Hiring Plans Show Signs That the Worst May Be Over

From the responses of small business owners in the latest American Express OPEN Small Business Monitor Survey, things seem to be looking up. While still closely watching the economy, many are planning to hire, and recent efforts to reign-in costs and focus on customers have better positioned them for growth. And, many more are discovering the benefits of social media.

Twenty-six percent of small businesses are planning to hire over the next six months, and more (10 percent, as opposed to 5 percent in the spring) are saying these employees will be full-timers. Of the business owners that said they plan to hire, more than 75 percent cited business growth as the reason. Basically, just because they’re not convinced the economy is on the upswing, they still have high hopes for their businesses. In fact, 39 percent believe sales will be higher in the next six months than in the same period last year.

Those who plan to hire are also the ones most likely to start investing in their business again. Sixty one percent with hiring plans intend to make capital investments in the near future, although 38 percent overall are still purchasing just what is needed. Cash flow has improved for more than half, after a particularly rough period.

Continues at: Hiring Plans Show Signs That the Worst May Be Over : Innovation :: American Express OPEN Forum.