The small business economy experienced April showers last month. But whether or not we’ll see May flowers seems far from certain.
Data from our SurePayroll Small Business Scorecard® showed hiring down 0.2 percent in April and the average paycheck flat. We appear to be in a jobless recovery. While small businesses have been able to stay profitable, they haven’t seen enough demand to warrant new hiring.
This means they’ve found ways to become more efficient despite a slow economy. As accountants and trusted advisors, it’s incumbent on you to help guide the small businesses you work with to stay up to date in this changing environment. It’s also beneficial for your own firm to understand what’s out there that can make it easier to do business and help you stay ahead of the game.
There are some basic tactics available to small businesses at a relatively low cost. We will talk about them next week.