The New Year Loans Boost in Confidence to Small Business Owners
2013 was not without its challenges for small business owners, who had to contend with a variety of man made and natural obstacles in order to make it to the new year. In the recently released Insperity small business survey, around half of small business owners surveyed loaned their voices to the growing crowd of those planning on hiring, which represents a significant increase from the numbers reported last fall. Additionally, compensation rates for employees went up by 2.9% on average, exhibiting confidence on the part of small business owners that they can continue to recover and support more dedicated staff.
Small businesses as a whole are looking forwards to the new year. The optimistic stance that these business owners have adopted reflects on the longer term recovery of the economy, although that’s not say that there are no more logistical and external issues looming down the road. In New York, for example, Eweek.com reported that there is a healthy chunk of business owners who are still in fear of the effects of the affordable care act on their businesses and their ability to expand and sustain the on boarding of new employees.
The Winter is almost over, and many business owners are looking forwards to the start of their peak business season. Although the last throes of Winter are remarkably cold due to the Polar Vortex covering much of the nation, small business owners can still look forward to a thaw, and with it an increase in volume for many seasonal business that means they have successfully outlasted the Winter. The boost in confidence being reported by small business owners may be being buoyed by the prospect of increased business, as well as the still lingering excitement surrounding the new year. Whatever the primary cause, anything that loans businesses a boost in confidence and heralds increased economic activity is incredibly welcome to all.
Photo Credit to U.S. Army on Flickr