Small Business Optimism Highest Since Spring 2011
Written by Ken Gaebler
SurePayroll's Small Business Scorecard for March shows nearly three out of four small business owners are generally optimistic about the economy and their businesses.
Small business optimism is the highest it's been in almost a year, according to online payroll provider, SurePayroll.
In its March 2012 Small Business Scorecard, 70 percent of small businesses reported feeling optimistic about their businesses and the general economic climate -- the first time small business optimism has hit 70 percent since May 2011.
Almost 80 percent of small businesses reported that Q1 2012 business either met or exceeded their expectations due to a combination of rising demand and continued cost cutting opportunities. Many reported that lower taxes, insurance expenses, fuel prices and other costs would be useful for carrying first quarter momentum into Q2 and subsequent quarters.
"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.
Although hiring and wages remained flat in March, a survey conducted by the small business payroll outsourcing provider as part of its Scorecard revealed that 31 percent of owners are planning to increase hiring throughout 2012, while two-thirds (67%) intend to keep their current staffing level. A small minority (2%) plan to reduce their workforce this year.
Alter added, "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."
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