Small businesses sense that the economy is in a much better state. In a recent survey1, more firms are planning to start increasing hires as they feel more confident in the economy and employment. The confidence index this quarter rose to 105.1 from 98.8 during the last quarter of last year. The result was taken from more than 1,850 small business chief executives.
More than half of the firms (57%) said that they are planning to ramp up hiring. Despite the boost of confidence, CEO’s and many businesses do not see that the economy will return to pre-recession levels. 84% of the firms stated that their businesses learned to be more productive with less people.
Though 5% percent of the respondents this year see that the economy has worsened, the survey showed that 60% of the respondents said that the economy was very much improved from last year. This is substantial given that when the index was compiled a year ago, only 41% of the businesses said that they were in a much better state. More companies and businesses are looking forward to investing in new plants and equipment with expectations of improved profitability.
Peter Lee, CEO of New York based WireWalkersVA, thinks that the economy has indeed improved though he cautions that “ultimately how one’s own business is doing is really what matters and not the median or average.” In his company, Peter believes that people has always been their biggest investment and asset; and, they do plan to hire 20 to 35% more in the upcoming quarter.
In particular, the SEO, social media and web development industries remain continuously stable and improving – as, no matter the overall state of the economy, every well managed business is continuously trying to improve their web site traffic and lead generation capabilities. Peter adds, “No matter what the economy we always feel like we’re going to do well because there’s always strong demand for services like ours that help companies get more business.”
Published on PRFriend.com