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Annual Newtek Survey on SMB Hiring Plans

Yesterday, Newtek announced the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of over 2,600 respondents, one of the key findings from the April survey is 70% of business owners do not plan on hiring in the next 6 to 12 months. Of those polled 49% hire employees who have recently graduated from college, while 51% do not. Additionally, 39% of business owners believe the unemployment rate will be lower by the end of the year, with 37% believing it will remain the same and 24% believing it will be higher.

The full April 2013 results showed the following:

Poll Question

Poll Answer

2013 Percentage

2012 Percentage

Do you plan on hiring in

the next 6 to 12 months?

Yes

30%

33%

No

70%

67%

Does your company hire

employees who have just

graduated from college?

Yes

49%

42%

No

51%

58%

   

Do you think the

unemployment rate will be

higher, lower or the same

by the end of the year?

Higher

24%

26%

Lower

39%

40%

Same

37%

34%

Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, “As seen in the 2012 and 2013 survey results above, despite the recent presidential election and reelection of President Obama and the stock market closing at all-time highs, small business owners have almost identical feelings towards hiring and unemployment as they did this time last year. These results tell us that there has been practically no increase in enthusiasm, confidence, or optimism in the small business market. This is not good news for the economy or for the hopes of increased tax revenues and a decreased deficit. Clearly it will take an increase in economic activity and hiring to decrease the deficit and grow the economy.”

Read more: http://newsbusters.org/blogs/noel-sheppard/2013/05/01/leno-tells-obama-how-close-gitmo-declare-it-small-business-and-tax-it#ixzz2S3TRbadd

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