Results from the recent CBIZ Small Business Employment Index, which measures hiring trends of small businesses with 300 or fewer employees, showed the index increased .05 in April. The findings demonstrate that there has been very little private sector job growth.
“The April CBIZ SBEI shows no material gain in employment,” said Philip Noftsinger, business unit president for CBIZ Payroll Services. “However, the data did show an increase of .05 percent for companies processing payrolls in both March and April 2012. As we look across the economy overall, this result is consistent with other metrics we are following.”
The index also showed 22 percent of small businesses have brought on more employees, while 53 percent have the same number of employees compared with the previous month. While small businesses are believed to be an important factor in the economic turnaround, these results are not inspiring for many small business owners.
The uncertain economy is causing many businesses to stand pat, while others are continuing to try for growth. Nonetheless, it is important for these small businesses to protect themselves with business insurance policies, as lawsuits or unexpected expenses related to property loss or damage could be devastating for companies operating in the current climate.
