07252016Mon
Last updateFri, 22 Jul 2016 4pm

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Manufacturing & The Economy

Survey: Small Businesses Not Planning to Increase Hiring in 2013

With continuing uncertainty on the effects of ObamaCare and other tax and regulatory laws, many private businesses are not planning on increasing their staff sizes in 2013, according to a new Sageworks survey.

Sageworks, a financial information company, surveyed accounting professionals who work closely with these firms. More than 50% of respondents said that in the next 12 months their clients expect their staffing levels to remain largely unchanged. Twenty percent of respondents said their clients plan to increase their number of employees.

Also according to the survey, 6.5% of respondents believe their clients will reduce their number of employees in the coming months.

The most recent Private Company Report from Sageworks shows privately held companies have seen their sales grow by an average annual rate of 9.7% in the period ended February 2013. The average private company had a 7.6% net profit margin for the period, compared to 4.6% a year earlier.

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