SCORE, mentors to America's small businesses, has published an infographic highlighting small business owners' struggles to save for retirement, and to offer retirement plans to their employees. Data gathered by SCORE shows that 34% of small business owners do not have retirement savings plans for themselves, and 40% of business owners are not confident that they will be able to retire before the age of 65.

Data also shows that the smaller the business, the less likely it is to offer a retirement plan to its employees. 72% of businesses with 10 employees or fewer do not offer retirement plans to their employees.

Business owners who lack retirement savings cite the following reasons:

37% of business owners lack the profits to save for retirement.

21% used their previous retirement savings to invest in their own business.

18% plan to sell their business to fund their retirement.

12% do not have any plans to retire.

12% do not see the need to save for retirement.

The fewer employees a business has, the less likely it is to offer a retirement plan for its employees:

Only 28% of businesses with fewer than 10 employees offer retirement plans for employees.

51% of businesses with 10-24 employees offer retirement plans.

63% of businesses with 25-49 employees offer retirement plans.

73% of businesses with 50-99 employees offer retirement plans.

87% of businesses with more than 100 employees offer retirement plans.

Businesses that do not offer employee retirement plans cite expense, administrative burdens and lack of employee interest as barriers:

71% of businesses that do not offer retirement plans report that plan setup is too expensive.

63% do not have the resources to administer such plans.

50% say their employees are not interested.

22% have not thought about offering retirement plans.

Despite business owners' concerns about expense, retirement savings only cost employers 2.4% of an employee's compensation, on average. Furthermore, retirement plans support employee recruitment and retention:

48% of departing employees said a lack of retirement benefits influenced their decision to leave.

94% of small business owners who offer 401(k) plans report that these plans drive recruitment and retention.