Small Business Optimism Jumps 20 Percent in October
A survey found that small business owners have their minds set on long-term growth and tax breaks.Small business owner optimism leapt 20 percent in October, to 53 percent, from a record-low the previous month, according to SurePayroll's monthly Small Business Scorecard. The scorecard includes hiring and wage data for the top 35 U.S. metropolitan statistical areas and surveys national small business owner optimism each month. For October, the scorecard revealed that on a national level there continues to be flat or decreased hiring for the 13th month in a row, totaling a year-to-date decline in hiring of 2.9 percent. However, the company noted this downward turn is slowing since September. Wages remain down slightly (0.6 percent) for the year.
The survey also found that small business owners have their minds set on long-term growth and indicate that the current administration and presidential candidates should be focusing on putting our fiscal house in order. Other findings from the optimism survey found 51 percent of small business owners report that the most critical issues related to job growth are balancing the budget, reducing the deficit and stabilizing the housing market. In addition, 45 percent think some kind of flat tax would have a positive impact on hiring, and 44 percent think a flat tax would have no impact on hiring; roughly 11 percent thought it could have a negative impact on hiring.