New SBAM survey finds small business owners continue to boost hiring
August 7, 2014
Nearly a third of small business owners in a recent Small Business Association of Michigan (SBAM) “Barometer” survey said they hired more workers in the past six months. That’s up from three years ago when only 12 percent said they increased hiring. Thirty-seven percent plan to hire more employees in the coming six months (compared to 29 percent in June 2013.)
Thirty-four percent of small business owners plan to increase wages in the next six months.
“This is vivid evidence that small business owners are responding to a much improved tax and regulatory climate in the state by increasing hiring, creating jobs and boosting wages,” says SBAM’s Vice President Communications Michael Rogers.
In other survey results, small business owners said that over the previous six months:
- Forty-five percent said sales had increased (compared to 42 percent in December 2013.)
- Thirty percent said profits had increased (up from 29 percent in December 2013.)
Looking forward over the next six months:
- Sixty-two percent said they expect sales to increase (compared to 48 percent in December 2013.)
- Fifty percent said they expect profits to increase (compared to 36 percent in December 2013.)
Continuing a trend, small business owners expressed concern about access to qualified personnel. Thirty-two percent said access was “only fair,” compared to 33 percent in December 2013. Forty-one percent said access was “pretty good,” compared to 38 percent in December 2013.
Six hundred eleven small business owners were interviewed in late spring for this round of the Barometer survey.