As a small business owner, you may believe that your company can’t afford a 401(k) plan. You are not alone. According to Forbes, although 99% of businesses with over 500 employees offer a 401(k) or comparable plan, only 24% of businesses with fewer than 50 employees do so. The truth is, however, that even the smallest business, including a sole proprietorship with no employees, can implement a cost-effective 401(k). For a business with employees, offering a 401(k) can help to attract and retain quality hires. According to a study by MetLife, retirement benefits are the third most important factor driving employee loyalty to small companies. Below is some basic information about two of the most popular options available to meet the retirement plan needs of small business owners. Others options are also available. Boelman Shaw Capital Partners can help you select the right 401(k) to suit the needs of your Des Moines small business.