Here is why some of your counterparts may feel the same way, as reported by The Times-Tribune.
The economy is growing, but that growth has slowed – and so has the pace of hiring among businesses with fewer than 500 employees. The U.S. economy grew at an annual rate of just 2.2 percent from January through March, according to government figures. That’s down from the moderate 3 percent growth during the last three months of 2011. Making things worse, the pace of hiring by small businesses is slowing, according to the payroll company ADP, which issues a monthly report on employment at companies in the private sector. ADP says that employment at small and medium-sized businesses rose by 181,000 in March. Employment rose by just 116,000 in April.
Small-business owners don’t want to take chances because they can see how troubled the national economy is, says Paul Merski, chief economist with the Independent Community Bankers of America, a banking trade group.
“If you go through the litany of economic data, it is just not giving small businesses the confidence to hire, to expand,” Mr. Merski says. “They don’t see the future return on that (expansion), or the future cash flow to take on additional debt.” One sign that small businesses may be poised to do more hiring is that they would take out loans to fuel expansion.
Photo by Bart Everson