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Small businesses hired fewer people in August than in June, and more than 80 percent of them are not seeking bank loans.
That?s the word from the latest SurePayroll survey of small businesses. SurePayroll is an online payroll service which has produced its SurePayroll Scorecard, a monthly look on national hiring and paycheck trends at more than 35,000 small businesses, since September 2004.
According to its survey, small business owners? optimism is at 60 percent with hiring down 0.1 percent and paychecks down 0.2 percent.
In July, there had been a slight uptick in hiring for the first time since February, but August?s data was down slightly.
The Scorecard optimism survey found that 82 percent of small business owners did not seek lending in 2012. Of those that did, only 32 percent had difficulty securing lending.
?For a long time, the banks have taken a beating for not lending enough to small businesses, but this data suggests the banks may not be the problem,? said SurePayroll CEO and President Michael Alter. ?There?s simply not enough demand in the economy. Many small businesses don?t have a reason to spend. Those businesses that do aren?t having a problem getting loans.?
Hiring was down month-over-month in every region of the country except for the South, where it was up 0.2 percent. Paychecks were up month-over-month in the Midwest by 0.6 percent and down across the rest of the country.
Year-over-year, nationwide hiring is down 1.5 percent and paychecks are down 1.4 percent. The South continues to show promising signs with hiring up 1.3 percent. The West has had the steepest hiring decline at 5.1 percent. Hiring in the Midwest is down 2.1 percent and paychecks are down 0.7 percent. In the Northeast, hiring is down 1.7 percent and paychecks are down 3.6 percent.
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Source: http://csbj.com/2012/09/05/small-businesses-are-not-seeking-loans/
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