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| Home > News > Financial and Economic News > Small businesses expect to add millions of jobs, but confidence still low |
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| Small businesses expect to add millions of jobs, but confidence still low |
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| 3/14/2011
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Small business owners in the U.S. plan to add nearly 3.8 million jobs this year, according to the results of a new survey.
The most recent Small Business Success Index (SBSI), which is conducted by the Center for Excellence in Service at the University of Maryland's Robert H. Smith School of Business, offered mixed results. The good news is that the estimated job growth could reduce the nation's unemployment rate by as much as 2.4 percentage points.
However, only 28 percent of small business owners who were surveyed reported that they would increase their staffing by up to two full-time positions, while 70 percent said their staffing would not change. Only 2 percent expected to lay off employees.
The SBSI also measures overall optimism of small business owners. The latest score is a 73, which is unchanged from the previous index in June 2010.
A total of 46 percent of respondents said that their enterprises are successful in competing with other companies for good employees.
"As they begin to hire again, owners need to focus on finding the right people to help grow their businesses. They need employees who understand customers' needs and can provide the level of service that is so critical to the success of small enterprises," said Janet Wagner, director of the Center for Excellence in Service. |
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