How Are Small Businesses Doing?
At the end of each quarter we like to check in on small business owners with our SurePayroll Small Business Scorecard® to gauge how well business is going.
After the third quarter, it looks like they’re hanging in there fairly well. I talked last week about how concerns over health care reform seem to be interfering with their confidence in hiring, however, nearly 80 percent reported having matched or exceeded expectations for the quarter.
Compared to last year, 31 percent said results were the same and 46 percent said they were slightly or significantly better.
The bad news, optimism dropped from 72 percent in August to 59 percent in September. It’s further indication that uncertainty over health care and the overall economy still weighs on small business owners.
They’re likely to continue playing it close to the vest, keeping costs at a minimum until the picture becomes clearer.
Michael Alter, payroll expert with an MBA from Harvard Business School, is a nationally recognized spokesperson providing thought-leadership and sensible advice to help accounting and payroll professionals build deeper more profitable relationships with clients. Alter, President of SurePayroll, writes the Trade Secrets column on INC.com and is frequently published in Bloomberg TV, the Wall Street Journal, and Entrepreneur Magazine.