Small Businesses Remain Hesitant To Hire
Small businesses still aren't hiring despite recent tax incentives, according to the Wells Fargo/Gallup Small Business Index. A majority of the business owners surveyed say they plan to maintain current staffing levels and available weekly hours for employees, while 19% said they are decreasing hours. About 52% said it is very unlikely that the tax credits for hiring unemployed workers will prompt them to hire.
Other survey findings included:
• 34 percent report hiring fewer employees than needed with 81 percent of that group concerned that revenue won’t be sufficient to justify new hires.
• Concerns about the potential cost of providing health care was cited by 65 percent of respondents as the main reason for holding off on hiring.
• Still, 80 percent of those surveyed say if they had it to do over, they would become a small business again.
Click here to read the full report from Phoenix Business Journal.
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