SurePayroll Small Business Scorecard®: Small Businesses Look Steady and Strong After Q1
Despite Headwinds, they Remain Optimistic
GLENVIEW, IL - March 24, 2014 - SurePayroll Inc., a leader in providing online payroll to small businesses nationwide, announced results for the March 2014 SurePayroll Small Business Scorecard® and survey, which indicates 87 percent of small businesses expect a strong or steady end to the first quarter.
In addition, optimism about the small business economy remains high at 69 percent, according to the Scorecard survey, almost unchanged from the beginning of the year. This despite month over month hiring being slightly down at 0.1 percent and the average paycheck slipping 0.3 percent. However, three times as many survey respondents expect to finish the first quarter in better condition than last year.
"The arrow is pointing up for small businesses right now. Optimism is holding strong and there’s a belief in more positive things to come," said SurePayroll CEO and President Michael Alter. "While there are some headwinds regarding health care and hiring growth, at the end of the day more of our customers are seeing better results this year."
Hiring in the South looks to be up 0.2 percent month over month; down 0.2 percent in the Midwest; down 0.4 percent in the Northeast; and up 0.1 percent in the West. The average paycheck looks to be down across the country, dropping 0.5 percent in the West, 0.1 percent in the South, 0.4 percent in the Northeast, and 0.3 percent in the Midwest.
As the first economic indicator created by a payroll company, the SurePayroll Scorecard has provided a monthly look at national hiring and paycheck trends since October 2004. SurePayroll's Scorecard compiles data from small businesses nationwide, and exclusively reflects the trends affecting the nation's "micro businesses" - those with 1-10 employees. The average business reflected has six employees.
The full SurePayroll Small Business Scorecard – Main Street Matters infographic includes data for SurePayroll’s top MSAs. The March 2014 Scorecard is available now on the SurePayroll blog.
SurePayroll is the trusted provider of easy online payroll services to small businesses nationwide. Whether a business has 1, 10, or 100 employees, SurePayroll delivers peace of mind by combining innovative, industry-leading technology and personalized support from an award-winning, U.S.-based customer care team. SurePayroll also provides private-label and co-branded services for accountants and banking partners as well as offering efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. SurePayroll is a wholly owned subsidiary of Paychex. For more information, please visit www.SurePayroll.com. Follow us on Twitter - Circle us on Google+ - Connect with us on LinkedIn - Like us on Facebook.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 570,000 payroll clients as of May 31, 2013. For more information about Paychex and our products, visit www.paychex.com.