GLENVIEW, IL, June 23, 2014 (GLOBE NEWSWIRE) -- Small business owners are expressing a very positive outlook for the second half of 2014, as 77 percent expect to be profitable, according to the June 2014 SurePayroll Small Business Scorecard® optimism survey. SurePayroll Inc., a leader in providing online payroll to small businesses nationwide, today announced results for the Scorecard, with the optimism survey also finding 62 percent of small business owners saying they were profitable in the first six months of 2014.
Further supporting their positive outlook, 66 percent of small business owners said they are currently optimistic about the economy. Seven in 10 small business owners said they are on pace to meet or exceed revenues from last year. Of those expecting revenues to outpace last year, 50 percent expect to do so by 10 percent or more. June was the first time in 2014 that small business hiring nationwide has not gone down. Hiring was flat in the month of June, after being down slightly the previous five months.
"With several factors pointing to a high level of optimism, it suggests small business owners believe the economy is getting better, and will continue to do so as the year goes on," said SurePayroll General Manager Andy Roe.
Small Business Owners Not Without Concerns
One in four still see struggles in the economy both nationally and locally as a major challenge, according to the Scorecard optimism survey. Meanwhile, while many have closely watched health care reform's impact on small businesses, it was not cited as a major challenge.
The percentage of small business owners citing these concerns were as follows:
- Struggles in the local economy – 24%
- Slow economic growth nationwide – 23%
- Not enough extra cash flow for hiring and/or expansion/investment – 17%
- Not enough qualified candidates to hire – 13%
- Health care reform – 11%
Regionally, June hiring was up 0.2 percent in the South; flat in the West; and down 0.1 percent in the Midwest and 0.2 percent in the Northeast.
The percentage of independent contractors nationwide grew 0.03 percent to 6.57 percent.
As the first economic indicator created by a payroll company, the SurePayroll Scorecard has provided a monthly look at national hiring and paycheck trends since October 2004. SurePayroll's Scorecard compiles data from small businesses nationwide, and exclusively reflects the trends affecting the nation's "micro businesses" - those with1-10 employees. The average business reflected has six employees.
The full SurePayroll Small Business Scorecard – Main Street Matters infographic includes data for SurePayroll's top MSAs. The June 2014 Scorecard is available now on the SurePayroll blog.
About SurePayroll
SurePayroll is the trusted provider of easy online payroll services to small businesses nationwide. Whether a business has 1, 10, or 100 employees, SurePayroll delivers peace of mind by combining innovative, industry-leading technology and personalized support from an award-winning, U.S.-based customer care team. SurePayroll also provides private-label and co-branded services for accountants and banking partners as well as offering efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. SurePayroll is a wholly owned subsidiary of Paychex. For more information, please visit www.SurePayroll.com. Follow us on Twitter – Circle us on Google+ – Connect with us on LinkedIn – Like us on Facebook.
About Paychex
Paychex, Inc. (Nasdaq:PAYX) is a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 570,000 payroll clients as of May 31, 2013. For more information about Paychex and our products, visit www.paychex.com.
Contact:
Lori Bolas
847-676-8420 ext. 7248
Lori.Bolas@surepayroll.com