Small Businesses Forecast Hiring Increases
31% Of Owners Plan To Hire Next Year
Many small businesses in the U.S. are ready to hang out the help-wanted sign. A new survey from Bank of America found that 31% of owners plan to hire during the next year. Of those, more than half said they plan to add staff because of an anticipated increase in sales in the months ahead.
Owners in the advertising specialty industry are even more upbeat on hiring. When Counselor recently asked Power 50 members if their companies would hire additional staff in the next year, 63% said they would. Howard Potter is among the optimistic owners in the industry. The head of Yorkville, NY-based A&P Master Images (asi/702505) plans to add two to four positions to his distributorship, including a graphic designer and full-time screen printer for the extensive in-house decorating department. The hiring plans are being prompted by burgeoning sales gains. “We’re going to need more people to keep up,” said Potter.
Despite the optimism about hiring, more than a quarter of respondents to the Bank of America survey said they would only take on part-time employees or freelancers. Additionally, 77% of the 1,000 owners questioned in the survey said that health care costs are among the greatest impediments to their success today. Another 76% cited the effectiveness of government leaders as a top concern.