Are small businesses the heroes of the economy these days?
In a recent infographic done by RocketLawyer.com, small businesses are shown to be thriving. According to this study, 38% of small businesses are planning to hire in the next 6 months. This is a phenomenal finding considering the national average for employment growth is only .66%: small businesses grew three times as fast as the national average in June of this year!
The study also reports that 86% of SMBS are expected to be stronger in 2012 than in 2011, and the second half of 2012 is expected to be better than the first half. Many small businesses feel that the economy is the number 1 issue in the upcoming presidential election (45% of SMB owners feel this way) . . . but the majority of small businesses feel that there has not been enough talk about small businesses issues in this election.
While business is increasing for SMBs, concerns about legal issues have been on the rise as well. One third of SMB owners cite compliance as their biggest concern; the second biggest issue is lawsuits.
Check out the infographic below to learn more fun facts. It is exciting to see small businesses growing and prospering this year. Congratulations to all of you small business owners who are bolstering the economy! We wish you the best for the remainder of 2012 and hope to see this trend continue in 2013.