“The tax breaks are subject to further review, the spending cuts have not been fully addressed, and now we have the further issue of the debt ceiling. It is no wonder that small business owners remain hesitant to hire or invest in growth.”
San Francisco, CA (PRWEB) January 24, 2013
2012 ended on much the same note as the entire year in regards to hiring. A survey of more than 40,000 small business owners done by SurePayroll, a provider of online payroll services, shows that in December hiring was down by 0.1 percent; continuing a trend that has been in place for much of 2012. Small businesses are still the growth engine of the U.S. economy, but uncertainty from Washington and a lackluster economy may be causing the engine to sputter somewhat.
“The fiscal cliff deal really didn’t help all that much in terms of removing uncertainty,” said Terry Robinson, president of Sunovis Financial.
The survey asked small business owners about their best ideas in 2012, their business resolutions for 2013, and the biggest challenge they face in the coming year.
When asked about their best ideas in 2012 the small business owners had this to say:
Focusing on profitability was the number 1 best idea of 2012 for the small business owners surveyed. This included both identifying their most profitable customers as well as identifying those who were unprofitable and learning to say no to the unprofitable customers.
Increasing productivity and efficiency through the use of new technology, services and products was number 2 on the list of good ideas. This could mean switching to online payroll services, creating apps to increase business, or using wireless kiosks in restaurants and retail businesses.
The third most popular idea for 2012 was investing in existing staff. Training and education was a big part of this, and some survey respondents also mentioned better communications with employees to help them feel more like a part of the company.
The following three 2013 small business resolutions were considered the most popular among the survey respondents:
- Cutting costs to increase profits.
- Growing the client base.
- Finding a marketing strategy that works.
When asked about the most difficult challenges in the coming year, many of the small business owners referred back to the fiscal cliff deal and Washington policies.
The most mentioned challenge by far was how to deal with the uncertainty created by Washington in the form of tax changes and government regulations. Most small business owners still have no idea what will happen with the economy in 2013 due to such outstanding issues as government spending cuts and the debt ceiling.
If Washington wants to prime the small business engine of growth in 2013 and the future, they need to remove the constant uncertainties that have worried small business owners throughout 2012.
About Sunovis Financial
Every small business is important to local communities and even more important in rebuilding the American economy. Today more than ever, small businesses need capital and assistance to thrive, and that is what Sunovis is focused on.
Sunovis is an SBA expert, and also offers Short-Term Micro Loans for small businesses, not weighted on FICO scores or collateral but on business health and cash flow.