Small Businesses Bracing for Tax Hike

A tax increase is on the horizon for small business owners beginning on Jan. 1, which many fear will have an impact on creating new jobs and hiring more employees. Republicans are fighting to stop the increase and contend it would have never happened in the first place had the Democrats listened to them. Whatever the case, small businesses fear the worst.

Voices of many small business owners were heard in this article. Many are unwilling to make large investments because of the tax hike and additionally, with the economy already being volatile, many fear that increased taxes might put their business completely under.

Now more than ever, small business owners should be smart with their money and know exactly where it is being spent. Our suggestion is by using corporate prepaid cards, so that every cent of the company’s money can be tracked and accounted for.

Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.