Opportunities abound for mutual fund companies to offer 401(k) retirement plans to small businesses, according to a report from Corporate Insight, "The Big Business of Small Business Retirement Plants." Small businesses make up about 99.7% of all employers and employ about half of the U.S. private sector workers, excluding those who work on farms.
"Thirteen of the 17 firms that we track offer some type of retirement plans for small businesses," said Michael Ellison, executive vice president, Corporate Insight. "Most have very similar offerings with the exception of two that have clearly taken the time to develop innovative products to go after this rapidly growing market segment. We believe there is significant opportunity for savvy marketers to capitalize on these demographics by creating a unique selling proposition and rolling it out across the marketplace."