As the end of another year comes to close, the writer in me loves to reflect on the year, noting the business wins and the losses. 2016 JAL is finishing our third year in business. I am so proud to share and announce that it has been an awesome year for JAL Consulting and myself. The company has grown as I have.
In August, JAL published the 2016 Edition of HIPAA Compliance; “A Practical Guide to Understanding and Implementing, “was just frosting on the cake."
I would not have been able to be where I am without the assistance and guidance of some very special and patient people, who pick up the pieces and are always there. As I say - it takes a village.
I have always had entrepreneur traits along with having a real passionate for guiding entities through the murky waters of compliance.
As I have come to find out, I have lots of company with other small businesses that share the same entrepreneur spirit.
According to Sageworks, a financial information company, businesses with less than $5 million in annual revenue experienced, on average, 7.8 percent annual sales growth during 2015, an increase of nearly a full percentage point from the previous year. “Within major sectors, small companies also produced healthy sales growth during 2015, along with flat-to-wider margins.” said Sageworks analyst James Noe.
Noe said that healthy margins and sales are important for generating the profits that can allow small businesses to expand, reinvest in their companies and take on extra overhead, such as new hires. "While the largest, publicly traded companies often dominate the news headlines, it's small, privately held companies that drive the bulk of GDP (Gross Domestic Product) and job creation in the U.S.," he noted.
There you have it; small business has and continues to drive the bulk of the U.S. GDP and job creation in 2015. Even though 2016’s numbers are not out, I full well to expect, we will see these numbers, if not better.
There were many factors which I had to resolve before I personally could take this leap of faith:
Loss of my income
The loss of my income could be covered by our savings, but what about the Number One Factor, health insurance for both my husband and I? Throughout the years, we had always used the group health insurance offered through my employer. What happens after my insurance benefit of COBRA expires?
That is where Obamacare or the Affordable Care Act (ACA) came into play. This was the last piece to the puzzle; a sign; it was the deciding factor which allowed me to take life changing leap into entrepreneurship! ACA allowed me to start my company, knowing that I would be able to obtain much needed health insurance.
With small business producing the bulk of the GDP and job creation, I certainly do hope our elected leaders will take a page out of my success story and consider a bipartisan approach to addressing any short coming the ACA may hold.
Judith and all of the colleagues at JAL wish each of you a glorious Holiday Season- full of joy, peace, love and memories.
Just released- Judith's 2016 Edition of “A Practical Guide to Understanding and Implementing HIPAA”. Click links below for more information-
Judith is an accredited Certified HIPAA Professional (CHP). As the owner of JAL, Judith is your subject matter expert providing guidance to organizations within HIPAA, GLBA, False Claim and other regulatory agencies. Judith provides reasonable and appropriate compliance policies, procedures within your Compliance Program. As a guru in compliance, Judith delivers compliance employee training programs, and participates in educational speaking engagements for the industries who handle Protected Health Information. To read more about the world of compliance subscribed to JAL’s insightful newsletter at www.jalconsultantsaz.comOR follow JAL on Twitter @judithconsult
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