SurePayroll Small Business Scorecard® Shows Split Among Small Businesses
SurePayroll Small Business Scorecard®Shows Split Among Small Businesses
Half looking to invest in the second quarter as optimism rises
GLENVIEW, Ill.--(BUSINESS WIRE)-- SurePayroll Inc., a leader in providing online payroll to small businesses nationwide, today announced results for the March 2013 SurePayroll Small Business Scorecard® showing month-over-month hiring was down 0.2 percent and the average paycheck was down 0.1 percent. Small-business owners' optimism rose to 68 percent, up from 59 percent last month.
The Scorecard optimism survey asked small-business owners about their plans for the second quarter. Half said they plan to make new investments in their businesses, with more than half of that group planning to invest in new staff, marketing and technology. Half of survey respondents also expect to surpass first quarter results in the second quarter of the year.
As much as 80 percent of respondents said the first quarter either matched or exceeded expectations, even with 58 percent saying the macro events of the first quarter (fiscal cliff deal, 2 percent payroll tax increase and the sequester) had a negative impact on business.
"Right now we seem to have a tale of two economies with small businesses. While half are ready to invest in things like hiring and new technology, the other half are still being cautious," said SurePayroll CEO and President Michael Alter. "While some feel they have been negatively impacted by events out of their control, such as the payroll tax increase, sequester and fiscal cliff deal, the jump in optimism this month suggests at least some are ready to move forward with the recovery."
Month-over-month SurePayroll Scorecard data showed hiring was down 0.2 percent and the average paycheck was down 0.1 percent. Hiring was down month over month in every region of the country except for the South, where it was up 0.1 percent. Paychecks were up month over month in the Midwest, and down slightly across the rest of the country. There had been four straights months of paycheck increases prior to March.
Year over year, nationwide hiring is down 1.4 percent and paychecks are down 0.1 percent. Year over year, the South is the only region where hiring is up at 1.8 percent and paychecks there are down 0.5 percent. The West shows a hiring decline of 4.3 percent, with paychecks down 0.2 percent. Hiring in the Midwest is down 2.2 percent and paychecks are positive, up 3.7 percent. In the Northeast, hiring is down 2.6 percent and paychecks are down 2.7 percent.
As the first economic indicator created by a payroll company, the SurePayroll Scorecard has provided a monthly look at national hiring and paycheck trends since September 2004. SurePayroll's Scorecard compiles data from small businesses nationwide, and exclusively reflects the trends affecting the nation's "micro businesses" — those with an average of eight employees.
The full SurePayroll Small Business Scorecard infographic includes data for the top 35 MSAs. The March 2013 Scorecard is available now on the SurePayroll blog.
SurePayroll is a wholly owned subsidiary of Paychex, providing an easy, online, convenient payroll service that keeps our small business customers in control. SurePayroll also offers efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. For accountants and banking partners, SurePayroll provides private-label and co-branded services that enable them to offer online payroll processing to their small business clients. The company has received numerous prestigious awards for its innovative technology, and outstanding customer service and sales teams, including recognition from PC Magazine, Accounting Today, the American Business Awards and many others. For more information, please visit www.SurePayroll.com.
Paychex, Inc. (NAS: PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 567,000 payroll clients as of May 31, 2012. For more information about Paychex and our products, visit www.paychex.com.
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