Right now, there are approximately 28 million small businesses operating in the U.S., according to the U.S. Small Business Administration. These are businesses that each have fewer than 100 employees, and at some point, nearly all will face the challenge of bringing affordable benefits to their workforce.

Balancing benefit cost and value is a dilemma that has small business owners seeking information and guidance. For brokers searching for growth opportunities, this market can be lucrative and rewarding. It also presents a great opportunity to build loyal and long-lasting relationships in an underserved market. But in order to do so, brokers must understand the challenges that drive the decisions of small business owners.

Employer challenges

When it comes to benefits, small businesses share some common pain points, such as:

• Employee recruiting and retention challenges

• Offering affordable yet attractive benefits

• Finding the time to shop for benefits

In fact, the 14^th annual MetLife Employee Benefit Trends Study confirmed that employee retention and cost control top the list of small business concerns. While these are not new concerns, when coupled with the regulatory requirements of the Patient Protection and Affordable Care Act, they leave small business owners looking for expert advice from brokers.

“Small businesses are confused about what their regulatory responsibilities are with ACA,” says James Reid EVP, Regional & Small Business Solutions at MetLife. “They need help understanding those responsibilities and how they can meet them while providing attractive benefits that help them with employee retention.”