Welcome to the Small Business Run Down. Each day, we bring you stories that impact small business owners and their workforce.
Today we head to Washington, D.C., where lawmakers on both sides of the aisle are waiting with bated breath … for the opportunity to vote on the SECURE Act. Meanwhile, 500 miles to the south, Blue Cross North Carolina is looking for ways to ease the financial burden of healthcare costs for small businesses. And just for fun: A woman in Atlanta is taking on Target for copyright infringement. You go, girl!
SECURE Act seeks to support SBOs in offering 401(k) programs
Small business owners know that the ability to offer a 401(k) program is a key component of recruiting and retaining talent, and they’re throwing their support behind proposed federal legislation that would make offering these programs easier. The SECURE Act would provide a comprehensive overhaul of the U.S. retirement system and make it easier for small companies to band together to offer employees access to 401(k) and IRA programs. In fact, 80% of SBOs believe that the SECURE Act could help them offer retirement savings plans that compete with those offered by big corporations.
The Number: 59%. According to a recent survey, 59% of small business owners believe that the SECURE Act will enhance their ability to offer retirement savings plans to their employees.
The Quote: “Building secure financial futures for all American workers begins with making sure they have access to retirement planning tools.”
Blue Cross NC and local health system parter to cut SBO healthcare costs
Blue Cross North Carolina and Wake Forest Baptist Health have announced a partnership that will allow small businesses to cut their healthcare costs by 15%. Companies with between 1 and 50 employees can participate in the program, which seeks to decrease the cost of health care for area small businesses by $2 million in 2020.
The Number: 925. Currently, Blue Cross NC has 925 small business customers representing more than 8000 individual members.
The Quote: “Small business owners are struggling to offer employees health insurance at an affordable price.”
ATL entrepreneur claims Target logo hits bullseye too closely
An Atlanta-area business woman is taking on Target for copyright infringement. The owner of Garnish & Gather, a meal kit and organic grocery delivery service in DeKalb County, filed a lawsuit in federal court in New York claiming that Target’s new line of food products, Good & Gather, resembles too closely her own trademarked brand. She claims that her company is worth millions of dollars and the department chain only offered her tens of thousands of dollars to help with direct online searches for her brand.
The Number: 12. Garnish & Gather, of Atlanta, employs 12 people and has 800 weekly meal kit subscribers. Target launched the Good & Gather line in September of this year and sells the products in their 1,800 stores across the country.
The Quote: “Basically they are going to take over the brand that I (worked) so hard to build. It is really sad and upsetting.”