May 1, 2013

Annual NewtekOne Survey on SMB Hiring Plans

Yesterday, NewtekOne 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%
Do you plan on hiring in the next 6 to 12 months?	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