SurePayroll Small Business Scorecard®Shows High Expectations for Q3
Small business owners optimistic but uncertain about hiring
GLENVIEW, Ill.--(BUSINESS WIRE)-- SurePayroll Inc., a leader in providing online payroll to small businesses nationwide, today announced results for the June 2013 SurePayroll Small Business Scorecard® showing optimism remaining high at 73 percent, up from a year-over-year low of 45 percent in September 2012. Month-over-month hiring was down 0.1 percent in June and the average paycheck was down 0.1 percent.
"Right now we're seeing two stories in the small business economy: one for today, another for tomorrow," said SurePayroll CEO and President Michael Alter. "Today things continue to be flat to slightly down, without much movement on the hiring front. However, there has been a steady trend of high optimism among small-business owners for tomorrow. Many believe we will see stronger results in the third quarter than we did in the second."
The Scorecard survey asked small-business owners to assess the second quarter: 55 percent said it met expectations, 21 percent said it exceeded expectations and 24 percent said it was below expectations. More than half, however, said they expect to surpass expectations in the third quarter of the year, perhaps a reflection of a more optimistic outlook on the economy. More than half also plan to make new investments in the third quarter, most likely in marketing, technology and new staff.
"We're in an environment where we have uncertainty surrounded by promise," Alter said. "The attitude of small business-owners is very positive right now, which suggests we should see growth in the future. However, lingering uncertainty about health care reform and the overall health of the economy are creating doubt about hiring."
Month-over-month SurePayroll Scorecard data showed hiring was down 0.1 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 flat month over month in the Midwest and South, and down in the rest of the country.
Year over year, nationwide hiring is down 1.6 percent and paychecks are down 0.1 percent. Year over year, the South is the only region where hiring is up at 1.7 percent and paychecks there are down 0.3 percent. The West shows a hiring decline of 3.4 percent, with paychecks down 0.8 percent. Hiring in the Midwest is down 2.9 percent and paychecks are positive, up 3.9 percent. In the Northeast, hiring is down 3.7 percent and paychecks are down 2.3 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 June 2013 Scorecard is available now on the SurePayroll blog.
SurePayroll is the trusted provider of easy online payroll services to small businesses nationwide. Whether a business has 1, 10, or 100 employees, SurePayroll delivers peace of mind by combining innovative, industry-leading technology and personalized support from an award-winning, U.S.-based customer care team. SurePayroll also provides private-label and co-branded services for accountants and banking partners as well as offering efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. SurePayroll is a wholly owned subsidiary of Paychex. For more information, please visit www.SurePayroll.com. Follow us on Twitter - Circle us on Google+ - Connect with us on LinkedIn - Like us on Facebook.
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 570,000 payroll clients as of May 31, 2013. For more information about Paychex and our products, visit www.paychex.com.
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