SurePayroll Small Business Scorecard(R): Optimism Soars
Small Businesses Feeling Confident Heading Into 2014
SurePayroll Inc., a leader in providing online payroll to small businesses nationwide, today announced results for the December 2013 SurePayroll Small Business Scorecard® and survey, which shows a significant rise in optimism from a year ago, an indication small businesses are in for a better year in 2014.
The Scorecard exclusively tracks real hiring and paychecks data for tens of thousands of micro businesses with 1-10 employees nationwide and provides important survey information giving a voice to small business owners on Main Street. The December Scorecard optimism survey found 70 percent of small business owners are feeling optimistic about the future, compared to only 55 percent in December of 2012.
“We saw a year of recovery in 2013. Seeing that optimism is higher going into 2014 gives us reason to believe small business owners are confident about the future, which typically results in increased hiring and growth,” said SurePayroll CEO and President Michael Alter. “Another sign of a stronger 2014 is the fourth quarter decline we’ve seen in 1099s.”
The Scorecard results saw the number of 1099s or independent contractors hired by small businesses slide during the fourth quarter, with only one in four saying they will hire more contractors in 2014 than they did in 2013.
“The slowdown in the use of independent contractors suggests small business owners may look to invest more in full-time hires in the year ahead,” Alter said. “More full-time hires means more stability and more dollars available to spend on Main Street, hopefully propelling our economy forward.”
Month over month, hiring was down 0.1 percent and paychecks were down 0.2 percent in December.
Year over year, nationwide hiring is down 1.7 percent and paychecks are down 0.3 percent. The South is the only region where hiring is up for the year at 0.7 percent and paychecks there are up 0.9 percent. The West shows a hiring decline of 1.5 percent, with paychecks down 1.3 percent. Hiring in the Midwest is down 3.2 percent and paychecks are positive, up 0.7 percent. In the Northeast, hiring is down 4.0 percent and paychecks are down 2.0 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 with 1-10 employees. The average business reflected has six employees.
The full SurePayroll Small Business Scorecard – Main Street Matters infographic includes data for SurePayroll’s top 35 MSAs. The December 2013 Scorecard is available now on the SurePayroll blog.
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.
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.
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