Online Listings

Small Business Owners Hesitant to Hire in Recovering Economy

By | 08.28.14

Small Business Owners Hesitant to Hire in Recovering Economy

Even with the economy in recovery mode, many small business owners are still hesitant to bring on new employees. This was revealed in a recent CNNMoney-Manta survey of 1,500 small business owners in which 28 percent of respondents cited the economy as their biggest challenge.

This reluctance is spanning across industries – from law firms to small start-up entrepreneurs.

Victoria Aguilar’s law firm is prospering but she’s not confident enough in the economy yet to hire more personnel. “If the economy doesn’t continue to heal, or reverses, all of us want enough savings on reserve so we aren’t another statistic,” said Aguilar.

Other industries are feeling the same uncertainty about hiring – even those with low overhead costs – like Leah Ellis who runs two businesses out of her home. Her pet sitting business, Toto’s Pet Care, lost clients when larger corporations were downsizing. Many of her clients worked for corporations that were affected and therefore, had to do some downsizing of their own.

Additional challenges facing small businesses that were uncovered in the survey follow:

  • Hiring – 5 percent
  • Healthcare – 5 percent
  • Financing – 15 percent
  • Government Regulations – 18 percent
  • Growing Sales – 21 percent

Reference:

O’Brien, Sara Ashley. “Is it safe to hire? Business owners don’t trust recovery”. Money.cnn.com. 8/19/2014.

(Visited 32 times, 1 visits today)
Share on: Share to Facebook Share to Twitter Share to LinkedIn
Comments

Like what you see?
Get more free content.

Next Up In Online Listings

Habits That Make Your Google My Business Listing More Effective

Google My Business

Habits That Make Your Google My Business Listing More Effective

If you’re running a business, your success depends on customers finding you. Having a clean, crisp website helps, but...

Read More

After COVID, an Up-to-Date Google My Business Listing is Crucial

COVID-19

After COVID, an Up-to-Date Google My Business Listing is Crucial

We know that when COVID-19 struck, many hard-working people were met with days of struggle, including small business owners....

Read More

Thryv’s New Business Scan Scores Your Customers’ Online Experience

Back Office

Thryv’s New Business Scan Scores Your Customers’ Online Experience

What do customers and prospects think about their online experience with your business? We’ve developed a free do-it-yourself business...

Read More