Daycare Update

It's been a while since my last update.

Eh?

Been shopping around for a health plan for my employees and I discovered a couple of things.

One, they ain't all that enthusiastic about it. They're more concerned with wages. Since I can't just increase wages so easily, I thought to offer a Group RRSP and health plan figuring it's a nice complement.

Try selling that to a bunch of 20 year-olds. Tougher than you think and more challenging than I thought.

My dilemma is I can't give all the wage increases they're expecting without compromising my margins. Nor can I increase my fees for this year. Will have to consider that for 2014. I'm still a growing business carrying enough debt.

The Group RRSP costs nothing to me unless I decide to kick in a percentage - which I plan to do as soon as it's feasible. RRSP's are a way of increasing disposable income in that they lessen the tax burden off the top but people don't necessarily see it that way.

It's looking like I won't be able to do both and will have to choose.

The health plan law in Quebec  (and I'm getting the feeling Americans find themselves in the same boat with Obamacare) puts me in a bit of a pickle.

It's an all or nothing kinda of deal they force on small businesses.

For example, if I have 10 employees but only 3 opt for a plan, the government forces me to give a basic plan to the other seven - even though they don't want it. The cost is negligible at around $7 per pay but that's besides the point.

For me, paying for three hits my margins less than 10.

Decisions, decisions.

Any advice out there?