SurePayroll Small Business Scorecard(R): Small Businesses Start 2015 With Cash at the Ready
Small businesses are pushing forward with the momentum they gathered at the end of 2014, starting the New Year with gains in hiring and the average paycheck.
The January 2015 SurePayroll Small Business Scorecard® features data on hiring and wages, as well as survey data with insights from small and microbusiness owners, primarily those with 1-10 employees. SurePayroll Inc. is a leader in providing online payroll to small businesses nationwide since 2000.
Hiring and average paychecks were up nearly 1.0 percent combined month over month. Last January, they were down a combined 0.3 percent.
In more good news, small businesses said they have more cash on hand this year for new opportunities and unforeseen expenses than they did one year ago, and are primed to grow:
- 52% said they have extra cash on hand compared to 45% a year ago.
- 61% said they are growing or planning to grow larger.
- 48% said they plan to hire for new positions in 2015.
- 78% are optimistic about the economy, compared to just 65% in January 2014.
“We’re seeing a lot of positive indicators right now. Having cash available is one of the most important things to a small business owner, so to see they have more now than they did a year ago is a big deal,” said SurePayroll General Manager Andy Roe. “For most of last year, small business owners were telling us they were becoming more and more profitable. We’re seeing the fruits of that now.”
An infographic with all the data from the SurePayroll Scorecard is available on theSurePayroll blog.
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 “microbusinesses” — those with 1-10 employees. The average business reflected has six employees.
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 580,000 payroll clients as of May 31, 2014. For more information about Paychex and our products, visit www.paychex.com.
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