Business owners optimistic, but slow to hire

Filed under News releases, Surveys and data

Submitted by SurePayroll

Nationwide, SurePayroll Scorecard data shows hiring in March was down  0.2 percent from the prior month, but paycheck size remained flat. Despite this, optimism among small business owners was 70 percent, the first time optimism has reached 70 percent since May 2011.

When small business owners were asked about their hiring plans moving forward in 2012, the SurePayroll’s Optimism Survey found that 31 percent plan to hire during the remainder of the year; 67 percent plan to maintain their current employment level; and 2 percent plan to reduce hiring.

In addition, almost 80 percent reported that their first quarter of business met or exceeded their expectations, due in large part to an increase in demand for their services and some cost cutting. To continue this momentum, small businesses owners reported that a reduction in the cost of doing business, such as taxes, insurance costs and gas prices, would be most helpful.

“Small businesses are seeing some demand rebounding in their businesses and very few are talking about a pullback in hiring. These are good signs for the future,” said SurePayroll CEO and president Michael Alter. “Despite the lack of hiring, we want small businesses to continue the momentum they do have into the next quarter and beyond. Giving them every opportunity to grow by reducing the cost of doing business should open the door to increased hiring.”

To view the full Scorecard including YTD and historical data, please visit http://www.surepayroll.com/scorecard/. For an explanation of what the various monthly economic reports released mean, read Michael’s blog post “The Skinny on Monthly Economic Reports” at http://www.inc.com/michael-alter/the-skinny-on-monthly-economic-reports-.html.

 

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