Small Business Outlook Mixed for 2014

Has 2014 left you somewhat optimistic and somewhat pessimistic, all at the same time? In case you missed this article from the Washington Post last week, it appears you're not alone. A poll of Small Business owners shows that while 23 % see a more favorable outlook, 28 % say there's cause for concern. The half in the middle are a blend of cautious optimism and just good old caution.

Check out the full story for breakdown of info here, and let us know via comment, FB, Twitter, or LinkedIn what your thoughts for 2014 look like.

Small Businesses Create 55,000 Jobs in November

(Reuters) - U.S. small businesses created 55,000 jobs in November but employees worked fewer hours and earned less money, according to a survey on Tuesday that highlighted the still weak labor market conditions.
Intuit, a payrolls processing company, said the increase in small business employment compared to October's upwardly revised 60,000 count, previously reported as a 30,000 gain.

The survey is based on responses from about 71,000 small businesses with fewer than 20 employees that use the Intuit Online Payroll system.

It covered the period from October 24 to November 23.

The average work week for small business employees fell 0.3 percent to 24.9 hours, while the average monthly salary slipped 0.18 percent to $2,637.

"Total compensation is down, part-time workers aren't getting as many hours, and there are fewer hourly employees who are working full time," said Susan Woodward, the economist who helped to develop the survey.

"Overall, this data is the best we could hope for given the uncertainty of the situation in Europe."
The government will release its closely watched employment report for November on Friday. Nonfarm payrolls likely increased 122,000, according to a Reuters survey, after rising 80,000 in October.


post published Nov 30 2011- Reuters News Agency

Jobs Act: Effective Ideas or Counterproductive?

Now that some time has passed since President Obama first unveiled his ideas in the American Jobs Act, we'd love to know what small business owners think. It appears, on the surface, that some of the politicians in DC are unsure of the plan, as evidenced by its lack of a sponsor to affix his/her name  to the legislation. Some argue it's more stimulus spending, some argue it's a desperately needed infusion.

Scrolling through articles and blogs across the 'net, we're seeing some real concern by small business owners. General feedback seems to highlight that many businesses are not choosing to hire now due to the following:

-Uncertainty over impact of healthcare legislation on employee carrying costs
-Uncertainty over tax rates
-Trepidation over "double-dip" recession (though many also question if it ever left the first time)
-Constricted lending leading to reduced cashflow options
-Desire to pay down debt rather than incur new costs

So.... what do you think? Do you see yourself or your clients in this feedback? What do you think would help reduce unemployment in the US by one percentage point?

We're looking for productive dialogue, so no political slamming.

What do you think? Comment below or join the conversation in our LinkedIn group.

Treasury Kicks Off Small Business Lending Fund

The Treasury is releasing $123 million to the Small Business Lender Fund. This fund was created last September as part of the Small Business Jobs Act. Designed to spur funding access and subsequent growth in the small business sector, it is the tandem program to the State Small Business Credit Initiative.

There is an article posted on About.com with further detail. Our question, particularly to the OED Advisor pool, is have you seen it making a difference so far? Please refrain from political argument in this post thread. We are trying to gauge a snapshot here with replies such as, "Yes, my client has converted (or I have), and we've been able to _____," OR "Nope, funds not coming through as planned."

Jobs Weak, Salaries Weaker. How Would You Assess Your Payroll?

Friday July 8 brought us the release of key economic data that didn't look very good for the economy. But were we really surprised? In a word, no. Projections, expectations, and hopes were certainly for more jobs, but with an addition of only 18,000 this past month unemployment has not bounced back up to 9.2% We have to say, none of this is surprising to us from what the businesses we serve have been reporting. What would have been surprising actually, would have been more jobs added. All signs from the small business sector we have heard (anectdotal, we understand) have pointed toward businesses staying lean and stretching productivity as much as possible.

Part 2 of the data showed a drop in wages when adjustments were made for inflation. Again we'd like to sound surprised, but we weren't. Very few business owners seems in a position to take higher salaries OR provide them, choosing instead necessary reinvestments and paying down debt service accumulated over recent years.

So, what's going on with your payroll? Steady? Still scaling down? Ready to add? Bucked the trend of late and have added? We want to hear right from the entrepreneurs' mouths, because without additions to the small business jobs sector, this will be a prolonged, jobless recovery.

Small Business Jobs Outlook for the June 2011

The headline from this morning's story on E-Week shows signs of stability, if not outright growth. So are jobs leveling off AND being added among small businesses?

The post by leads off with, "Over the next three months, 90 percent of merchants expect to keep headcount the same or add jobs to their businesses." The article relies on data from MerchantCircle, a social network/business group for Small Business which indicates elevations in confidence from holiday sales at end of 2010 continued through each quarter this year so far.

Two large stats to emerge are, "Merchants remain cautiously optimistic about the economy and revenues: 57 percent of small business owners expect revenue to 'improve' or 'slightly improve' over the next three months," and, "Over the next three months, 90 percent of merchants expect to keep headcount the same or plan to add jobs to their businesses, down slightly from the previous quarter, when 92 percent of merchants expected to maintain or increase headcount."

So what's your business's outlook for the rest of this year? Do you see your headcount increasing, holding steady, or subject to some belt-tightening?