More than 82 percent of small business owners said their companies were growing on schedule or at a faster pace than originally predicted at the beginning of the year, according to an Administaff Inc. survey.
Most respondents — 59 percent — said they are meeting their initial business projections this year, while another 23 percent said they were exceeding their initial 2007 expectations.
Half of the survey’s respondents also said they were hiring additional full-time employees, while 13 percent were hiring part-timers to fill in work force gaps.
Forty-one percent were making do with existing staff. The survey also found that 61 percent were attempting to attract older, more experienced workers.
The survey also found that respondents were facing serious business challenges this year: Fifty-three percent said the greatest issue is “hiring the right employees,” while 31 percent cited the cost of medical insurance coverage and 29 percent were concerned about increased competition from other businesses.
Other concerns included economic conditions, the housing market, capital issues and regulatory compliance.
Photo by MSDesigns.
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