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Small Business Owners And Corporate CEOs Split Over Hiring And Job Creation
Written by Tim Morral
A NYSE Euronext survey shows sharp divides between global CEOs and U.S. small business owners when it comes to job growth.
Will small business be the engine that drives U.S. job growth in 2013 and beyond?
In a recent NYSE Euronext survey, corporate CEOs and small business owners split over this and other questions related to the U.S. employment market. According to the survey, two-thirds of small business owners aren't definitive about their plans to add new positions in 2013, even though CEOs and others see small business as the primary driver behind future job creation.
"More than half of respondents believe that most private sector job creation over the next three years will come from small entrepreneurial companies," said Duncan L. Niederauer, Chief Executive Officer, NYSE Euronext. "However, more than 80% of U.S. small business leaders said that lack of access to capital, economic uncertainty and other burdens are having a significant impact on their ability to create jobs."
One thing survey respondents could agree on was the role taxes play in limiting job creation. The normal challenges associated with recruiting the right personnel can be difficult enough. But 57 percent of CEOs and 53 percent of small business owners cite tax rates for businesses as the primary obstacle in the creation of permanent jobs.
A survey of the advice CEOs and small business owners would offer the next U.S. presidential administration further highlights the differences in their priorities and perspectives:
A sampling of insights for the next White House by CEOs of NYSE-listed companies include:
- "The key priorities should be to address our debt issues, our entitlement issues, and the increasing bureaucratic chokehold on our economy. Real and permanent solutions to these issues would unleash confidence in our economy and help it grow."
- "Invest in people, in education, in innovation. Some traditional jobs are gone forever through technological advances. We must adapt to thrive in this new reality."
On the other hand, advice offered by U.S. small business owners includes:
- "Stimulate internal job creation by providing tax benefits for U.S. job creation, Incentivize banks to lend to small businesses at special rates and aggressively."
- "We must make it more attractive for businesses to conduct operations in the USA. This means simplifying the tax code, perhaps lowering tax rates, and making it far easier to get qualified international workers to come to the U.S."
For complete results of the survey, visit http://www.nysemagazine.com/CEOreport.
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