Majority of Business Owners Want the PPAHCA Modified or Repealed
June 2012 SB Authority’s Market Sentiment Survey Results
NEW YORK, July 2, 2012 /PRNewswire/ — Newtek Business Services, NASDAQ: NEWT, The Small Business Authority, with a portfolio of over 100,000 business accounts, announced today the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of over 600 respondents, one of the key findings from the June survey is 39% of business owners did not want the Patient Protection Affordable Healthcare Act (PPAHCA) to be ruled constitutional at all and 37% of business owners did not want the Act to be ruled constitutional in part. Only 25% of business owners surveyed wanted the PPAHCA to be enacted. After the Supreme Court ruled that Congress had the right to legislate the PPAHCA, 35% of business owners now want the Act to be repealed and 38% want the Act to be modified.
The full June 2012 results showed the following:
|Poll Question||Poll Answer||Percentage|
|If the Supreme Court ruled on the
Patient Protection Affordable Health
Care Act (Commonly known as
Obamacare) today do you wish:
|It is ruled 100%
|Part is ruled
|It is fully enacted
into law and is ruled
|Now that the Supreme Court has ruled
that Congress had the right to legislate
the Patient Protection Affordable
Health Care Act, “Obama’s Healthcare
Law”, as constitutional, would you like it:
|Left alone as the
Barry Sloane, Chairman, President and CEO of The Small Business Authority, commented, “We have seen a slight shift towards the bill being more favorable now that the Supreme Court has ruled, but it is still viewed as an unfavorable position by small business owners. We believe that there will continue to be controversy over this bill well past the November elections.”
About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority, provides the following products and services:
- Electronic Payment Processing: eCommerce, electronic solutions to accept non-cash payments, including credit and debit cards, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs.
- Managed Technology Solutions (Cloud Computing): Full-service web host, which offers eCommerce solutions, shared and dedicated web hosting and related services including domain registration and online shopping cart tools.
- eCommerce: A suite of services that enable small businesses to get up and running on-line quickly and cost effectively, with integrated web design, payment processing and shopping cart services.
- Business Lending: Broad array of lending products including SBA 7(a) and SBA 504 loans through our lending subsidiary, Newtek Small Business Finance, Inc.
- Insurance Services: Commercial and personal lines of insurance, including health and employee benefits in all 50 states, working with over 40 insurance carriers.
- Web Services: Customized web design and development services.
- Data Backup, Storage and Retrieval: Fast, secure, off-site data backup, storage and retrieval designed to meet the specific regulatory and compliance needs of any business.
- Accounts Receivable Financing: Receivable purchasing and financing services.
- Payroll: Complete payroll management and processing services.
Newtek Business Services, Inc., The Small Business Authority, is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek™ brand. Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today’s marketplace. Newtek provides its services to over 100,000 business accounts and has positioned the Newtek™ brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms.
Note Regarding Forward Looking Statements
Statements in this press release including statements regarding Newtek’s beliefs, expectations, intentions or strategies for the future, may be “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek’s actual results to differ from management’s current expectations, are contained in Newtek’s filings with the Securities and Exchange Commission and available through http://www.sec.gov.
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SOURCE Newtek Business Services