BY: Adam Gavriel
According to a report by CBIZ small business hiring increased from 0.67% in June after increasing just 0.22% in May. At first glance this number looks somewhat promising, but among the small business (companies with 300 or less employees) surveyed, 49% maintained their current number of employees. On the other hand 22% decreased employees while 29% reported an increase in hiring.
Philip Noftsinger believes that the little growth in June when there should have been an extreme increase due to seasonal hiring shows that there is little to no confidence in this number rising substantially any time soon. Noftsinger expects the small business sector will remain weak through the third and possibly fourth quarters of this year.
However it is also important to note that the small business sector remains just that, small. Any rapid growth in this area is hard to come by since the sector thrives on long-term economic growth to succeed and it is very unlikely to show a rapid increase in such a short amount of time.
Although the numbers have increased, it was just a few fractions of a percent which continues to make those observing it weary about the future of small business hiring.
On the other hand among all this data is a report that sales of small businesses earning an average $350,000 in revenue have increased 8% in the second quarter of this year. But this number too is also deceiving. The only reason the number has increased 8% is that small business owners are losing confidence and not asking for the market prices they once were demanding. According to a report by BizBuySale.com buyers paid a median of $25,000 less than market value for purchased small business in the 2ndquarter.
According to the study, 45% of all businesses sold were in the service sector, while 26% were retail.
When times in the nation are bad it is the small businesses that are hit first. Not being able to keep up with the big chains that run them out of business, the mom and pop shops of the world begin to suffer.
At Crossroads Consulting we know the hardship that is going out there and that’s why we strive to put the “Human” back into Human Resources. With job openings that are updated daily we also offer resume optimizationand interview preparation for the job seekers. Not only that but if you’ve been keeping up with the blog here at Out of Our Minds you know that we have posted quick write ups on how to improve your skills. We browse resumes daily that are posted online in order to find those people that we feel we can help.
Send in your resume today, and we’ll help you find the career you’ve always been looking for.