When you shop local businesses, don’t exclude franchises just because they are part of larger chains. Remember, the vast majority of franchises ARE small businesses.
Several news stories around the web today discuss the United States Supreme Court’s Ruling on the 2010 Patient Protection and Affordable Care Act and what it could mean for franchised businesses.
The United States Supreme Court upheld the constitutionality of most of the 2010 Patient Protection and Affordable Care Act (ACA). The two key issues before the Court were the constitutionality of (1) the ACA’s “individual mandate,” which requires virtually everyone in the United States to buy health insurance or to pay a penalty for failing to do so, and (2) its requirement that states adopt new standards that would have significantly increased the number of Medicaid-eligible individuals (the so-called “Medicaid expansion”), or face loss of federal Medicaid funding.
According to a recent article in the Wall Street Journal, “if franchisees could borrow all the money they need this year, they could purchase over 41,000 new or transfer businesses and create an astounding 333,000 new jobs.”
As we supposedly continue our economic recovery, the number one issue facing franchise systems and other small businesses is the lack of access to credit.
Last March, Congress passed the 2,000 page Patient Protection and Affordable Care Act (PPACA) with the stated goal of ensuring that more Americans are covered by health insurance, and by making the cost of insurance more affordable. Some groups are already claiming that the law has been beneficial. A Business Week commentator disagrees.