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Small Business Digest



Small Business Job Creation Up Very Slightly, Taxes, Regulations Still Hurt

Small business leaders think heavy regulation, high taxes and the cost of doing business are the three most important obstacles facing them today.

This was a finding of a recent Sage survey of 500+ small businesses which also looked at President Obama’s recent proposals to help smaller firms.

Tax relief was the highest need (86%), lifting regulations that are impeding lending (74%) followed by tax breaks for job creation (68%) and immediate cut in payroll taxes (58%).

Not surprisingly, creating tax disincentives for creating jobs overseas (47%) and clean energy (32%) were at the bottom of the list.

This survey mirrors other data collected over the past months which demonstrates the need for easier lending practices by banks.

Intuit Payroll’s February Small Business Employment Index, a monthly report providing unique and almost real-time insight into employment trends of the nation’s small businesses with fewer than 20 employees, shows that 45,000 new jobs were created in February. The data is based on approximately 73,000 small businesses customers of Intuit Online Payroll.
The February index also shows:

  • Nearly 1,135,000 new small business jobs created in the U.S. since October 2009 and 45,000 new jobs created in February.
  • Compensation decreased by 0.15 percent in February and now is $2,686 per month, compared to the revised January figure of $2,682 per month.
  • Monthly hours worked decreased by 0.04 percent in February, at 108.5 hours.

“Small businesses comprise one of the largest constituencies and generate more jobs than any other sector of the US economy.  And while there are signs of improvement in the economy, small businesses still perceive obstacles in their way to achieving renewed growth.

The Sage North America small business sentiment survey of small business owners showed tax relief for small businesses, lifting regulations that impede access to capital for small businesses, and giving tax breaks for creating jobs in America were the most popular proposals outlined in the President’s recent State of the Union Address,” according to Sage Small Business Accounting General Manager Connie Certusi.

The Sage Small Business Sentiment survey was conducted a month after the state of the union to gauge the opinions of small business owners about the proposals outlined in the address.  The survey showed that taxes, regulation and access to financing remain key concerns for small business owners,” she added.

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