The Booneville Development Corporation/South Logan County Chamber of Commerce re-started its Business After Hours program last week with a seminar about how the Affordable Care Act affects small business.
BDC/Chamber executive director Stacey McCollough was a little disappointed in the turnout for the meeting, held Tuesday at the Jeral Hampton Meeting Place, especially considering the topic.
“I was hoping more (business representatives) would be there,” said McCollough. “Several small business owners assume that if they have under employees the Affordable Care Act doesn’t affect them.
“The truth is there are tax implications and filing requirements that if you’ve got two employees, you’ve got to do. This makes four or five meetings, I’ve been to four or five meetings (about the Act) and I learn something new every meeting.”
Nathan George, the director of the Arkansas Small Business and Technology Development Center at Arkansas Tech University facilitated the meeting and attendees left with an informative packet that detailed the requirements and the potential penalties faced for noncompliance.
George, who is also a former state legislator and football coach, went through the workbook, which included charts for computing the number of full time equivalent employees, small business participation in the Small Business Health Options Program (SHOP), the Arkansas Health Connector website and more.
In addition to the ASBTDC, the meeting was held in partnership through the Arkansas Insurance Department.
McCollough said future Business After Hours meetings are being planned.