SurePayroll Small Business Scorecard(R): Small Business Revenue Growth Outpacing Taxes
April 21 2014 - 6:00AM
Marketwired
SurePayroll Small Business Scorecard(R): Small Business Revenue
Growth Outpacing Taxes
Small Businesses Stay Nimble, Sidestep Tax Hit
GLENVIEW, IL--(Marketwired
- April 21, 2014) - Tax season came and went with a bit of a
silver lining for small business owners -- while taxes went up for
the majority of them, revenue growth was even stronger. SurePayroll
Inc., a leader in providing online payroll to small businesses
nationwide, today announced early results for the April 2014
SurePayroll Small Business Scorecard® and survey, which found that
revenue increases outpaced tax increases for small business
owners.
One in three small business owners surveyed saw revenue growth
greater than 15 percent in 2013, compared to only one in five who
saw taxes increase by more than 15 percent. Overall, 60 percent saw
revenue increase in 2013, while 57 percent saw taxes increases.
"Our data continues to show a small business economy that's
operating lean and mean," said SurePayroll Vice President of
Marketing Scott Brandt. "Overall the rates of revenue and tax
growth are similar, however the small businesses that are scaling
more than 15 percent managed to outpace what they owed in taxes.
It's an impressive feat."
In addition, optimism about the small business economy remains
high at 69 percent, according to the Scorecard survey, almost
unchanged from the beginning of the year. This despite month over
month hiring being slightly down at 0.1 percent and the average
paycheck being flat. The percentage of 1099s or contractors was
6.52 percent, up from 6.49 percent in March.
"They're not adding to their staffs, yet 60 percent are growing
revenue -- one in three by more than 15 percent. Let's hope the
growth continues and leads to more hiring," said Brandt.
Hiring in the South looks to be flat month over month; down 0.3
percent in the Midwest and Northeast; and up 0.1 percent in the
West. The average paycheck looks to be down 0.1 percent across the
country, except in the South, where it looks to be up 0.1
percent.
As the first economic indicator created by a payroll company,
the SurePayroll Scorecard has provided a monthly look at national
hiring and paycheck trends since October 2004. SurePayroll's
Scorecard compiles data from small businesses nationwide, and
exclusively reflects the trends affecting the nation's "micro
businesses" -- those with1-10 employees. The average business
reflected has six employees.
The full SurePayroll Small Business Scorecard - Main Street
Matters infographic includes data for SurePayroll's top MSAs. The
April2014 Scorecard is available now on the SurePayroll blog.
About SurePayroll
SurePayroll is the trusted provider of easy online payroll
services to small businesses nationwide. Whether a business has 1,
10, or 100 employees, SurePayroll delivers peace of mind by
combining innovative, industry-leading technology and personalized
support from an award-winning, U.S.-based customer care team.
SurePayroll also provides private-label and co-branded services for
accountants and banking partners as well as offering efficient
online solutions for managing 401(k) plans, health insurance,
workers' compensation, employee screening and more. SurePayroll is
a wholly owned subsidiary of Paychex. For more information, please
visit www.SurePayroll.com. Follow us on Twitter - Circle us on
Google - Connect with us on LinkedIn - Like us on Facebook.
About Paychex
Paychex, Inc. (NASDAQ: PAYX) is a
leading provider of payroll, human resource, insurance, and
benefits outsourcing solutions for small- to medium-sized
businesses. The company offers comprehensive payroll services,
including payroll processing, payroll tax administration, and
employee pay services, including direct deposit, check signing, and
Readychex®. Human resource services include 401(k) plan
recordkeeping, section 125 plans, a professional employer
organization, time and attendance solutions, and other
administrative services for business. A variety of business
insurance products, including group health and workers'
compensation, are made available through Paychex Insurance Agency,
Inc. Paychex was founded in 1971. With headquarters in Rochester,
New York, the company has more than 100 offices serving
approximately 570,000 payroll clients as of May 31, 2013. For more
information about Paychex and our products,
visit www.paychex.com.
Contact information Lori Bolas847-676-8420 ext.
7248lori.bolas@surepayroll.com
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