surepayroll june 2014 small business scorecard
DESCRIPTION
SurePayroll's June 2014 Small Business optimism survey shows that small businesses are reporting profitability along with increased revenues as well. Of those expecting to beat 2013 revenues, half expect to do so by 10% or more. However, concerns about the strength of the national and local economies remain.TRANSCRIPT
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 6 employees. The SurePayroll Small Business Scorecard - Main Street Matters infographic also includes data for SurePayroll's top 35 MSAs.
Contact Lori Bolas 847-676-8420 ext. 7248 [email protected]
Copyright © 2014 SurePayroll. A Paychex Company. All rights reserved.
Main Street MattersSMALL BUSINESS SCORECARD®
JUN-
13
JUL-
13
AUG-
13
SEPT
-13
OCT-
13
NOV-
13
DEC-
13
JAN-
14
FEB-
14
MAR
-14
APR-
14
MAY
-14
JUNE
-14
6.8%
6.7%
6.6%
6.5%
6.4%
6.3%
6.2%
6.1%
6.0%
5.9%
5.8%
5.7%
5.6%
5.5%
6.57%
6.62%6.79%
Use of 1099s is generated from actual payroll data – paychecks issued to contractors and employees – from small businesses nationwide.
MONTH-OVER-MONTH
CHANGESIN SMALL BUSINESS HIRING & PAYCHECKS
YEAR-OVER-YEAR
CHANGESIN SMALL BUSINESS HIRING & PAYCHECKS
ATLANTA
BOSTON
CHICAGO
CLEVELAND
COLUMBUS
DALLAS
DENVER
DETROIT
HOUSTON
LAS VEGAS
LOS ANGELES
MIAMI
MINNEAPOLIS
NASHVILLE
NEW YORK
NORFOLK
ORLANDO
PHILADELPHIA
PHOENIX
RALEIGH-DURHAM
RICHMOND
SAN DIEGO
SAN FRANCISCO
SEATTLE
TAMPA
WASHINGTON DC
0.3%
-0.4%
-0.2%
-0.5%
0.2%
0.2%
1.0%
0.2%
-0.5%
0.4%
0.2%
0.1%
0.0%
0.1%
0.2%
-0.3%
0.5%
0.9%
-0.1%
0.3%
0.1%
0.2%
-0.4%
-0.1%
0.4%
-0.5%
-0.1%
-0.4%
-0.1%
-0.5%
0.0%
0.0%
-1.1%
-0.4%
0.3%
-0.7%
-0.3%
-0.2%
-0.4%
-0.9%
-0.3%
0.3%
-0.1%
0.0%
-0.9%
-0.1%
0.1%
-0.2%
-0.3%
0.1%
-0.5%
-0.1%
HiringIndex
PayPer Check
ATLANTA
BOSTON
CHICAGO
CLEVELAND
COLUMBUS
DALLAS
DENVER
DETROIT
HOUSTON
LAS VEGAS
LOS ANGELES
MIAMI
MINNEAPOLIS
NASHVILLE
NEW YORK
NORFOLK
ORLANDO
PHILADELPHIA
PHOENIX
RALEIGH-DURHAM
RICHMOND
SAN DIEGO
SAN FRANCISCO
SEATTLE
TAMPA
WASHINGTON DC
3.6%
-7.3%
-1.7%
-2.2%
-1.0%
0.1%
2.9%
2.8%
-3.9%
-3.6%
-0.3%
7.6%
-2.5%
0.9%
-2.1%
1.0%
-2.3%
-1.3%
0.4%
8.3%
-0.8%
-0.4%
-2.8%
-5.7%
1.9%
-2.0%
-0.4%
-1.1%
0.3%
-4.0%
0.5%
6.4%
-7.3%
4.1%
3.0%
-5.3%
-1.6%
-5.6%
-3.0%
-3.1%
-1.1%
-5.0%
1.9%
3.3%
-2.9%
-4.4%
-5.9%
-5.5%
-0.1%
-4.5%
-1.6%
-3.5%
HiringIndex
PayPer Check
Along with profitability, small business owners say they’re seeing revenues increase as well. Two in five expect 2014 revenues to outpace those from last year. Of those expecting to beat 2013 revenues, half expect to do so by 10 percent or more. There are still major challenges, however, including slow economic growth nationwide and struggling local economies. About 50 percent of small business owners cited these as their top concerns. Only 11 percent said health care reform was a major concern. Not having enough cash for hiring or expansion (17 percent), and not being able to find qualified candidates (13 percent) for jobs, were also listed.
More on the Small Business Landscape
77%of small business owners surveyed expect to be profitable in the second half of 2014. This is up from the 62 percent who said they were profitable in the first half.
Optimism OutlookTHE SMALL BUSINESS
Dec 2013 Mar 2014Sept 2013 June 2014
69%70%59% 66%
REGIONAL HIRING MAP REGIONAL HIRING MAP
HiringIndex
PayPer Check
HiringIndex
PayPer Check
NATIONWIDE
MIDWEST
NORTHEAST
SOUTH
WEST
-0.6%
-1.5%
-3.1%
1.9%
-0.9%
-1.2%
-0.3%
-2.6%
-0.1%
-1.8%
NATIONWIDE
MIDWEST
NORTHEAST
SOUTH
WEST
0.0%
-0.1%
-0.2%
0.2%
0.0%
-0.2%
-0.3%
-0.2%
0.0%
-0.4%
MONTH-OVER-MONTH
CHANGESIN SMALL BUSINESS HIRING & PAYCHECKS
YEAR-OVER-YEAR
CHANGESIN SMALL BUSINESS HIRING & PAYCHECKS
JUNE 2014
NATIONAL HIRING AND SALARY INDICES
METRO-BASED HIRING AND SALARY INDICES
REGIONAL HIRING AND SALARY INDICES
Main Street Matters
SUREPAYROLL SMALL BUSINESS SCORECARD®
NATIONAL AND REGIONAL DATA
NATIONWIDE % OF 1099s
METRO AREA