Diversity means business.
Minority firms and employees are a growing share of U.S. businesses and the workforce generating $1.7 Trillion in valuable revenue. As a result, the strength of the broader U.S. economy is increasingly tied to minority-owned business enterprise (MBEs) performance.
Women-owned businesses are growing two times faster on average than all businesses nationwide according to the ninth annual State of Women-Owned Businesses Report (commissioned by American Express). The report also cites over the past five years, the number of female-owned businesses increased 21% compared to an increase of 9% for all businesses.
Small businesses employ nearly half of the state’s private sector workforce, and nearly sixty percent of small business workers or employees are not on their employers’ plan and potentially working and not insured. Now more than ever, minority small businesses are looking for innovative ways to overcome new challenges and win.
For many minority business owners, the past few years have required you to adapt and evolve like never before. As a business owner, you have been more resilient and adaptive than ever- serving our community. You’ve poured your heart into helping your customers and employees, sometimes at the expense of yourself. Like the rest of the country, Florida has experienced some social and economic impacts that in-turn created new challenges and barriers for you to address.
Seventy seven percent of Black businesses categorize their financial situation as “fair” or “poor” since the pandemic according to the Florida Chamber and Florida Politics.
And as we enter the last quarter of this year, we continue to face inflation, affordable housing, talent acquisition, operational fluctuation, and budget challenges.
Finding solutions that fit your business needs, cares for your employees, and are flexible is key to success. Health plan benefits can be that bridge- and there are multiple pathways to get there.
Affordable health insurance is a valuable benefit that everyone should have access to. Having a comprehensive employee benefit solution can entice future talent and enhance your business’s employee experience.
Being covered is good for your business.
Offering health benefits is a big decision. There is a lot to consider when discovering which coverage is a right fit.
- Do I want to invest in employee benefits or expand coverage with ACA?
- What extra services and benefits am I looking for?
Not sure if you can afford to offer group coverage? Whether looking for yourself or just want to connect your employees with a trusted resource for an Individual Marketplace plan, you can find high quality coverage for just yourself and/or your family; understand how the new American Rescue Plan laws may expand your options; and access premium tax credits and other savings, if you qualify.
Group coverage is not one-size fits all.
Group plans can provide employees with comprehensive benefits that are important in today’s competitive job market. It can play a critical role in recruitment in such a tight labor market.
When considering providing coverage for your employees, there are many factors to consider. Understanding if you qualify is the first step to knowing which choice is best for your business. There are many flexible options available if you qualify for group coverage.
As an employer, tailoring cost is key in determining a group coverage solution that helps balance budget and provides the coverage you need. Lots of people misjudge how much health care can.
We can help you discover what pathway is best for you or your individual business. We can discuss your business objectives, what your financial priorities are, and help you enroll in the right group coverage, or individual plan.
Whether you’re a sole proprietor, small business leaders, veteran, minority or woman-owned business, affordable health care solutions can truly help business leaders maintain their competitive edge.
Please contact Stephen Brocato if you have questions about the best pathways to care for your organization: [email protected].