New SBAM survey shows improved small business optimism and surge in hiring

The Small Business Association of Michigan’s (SBAM) latest June 2012 Small Business Barometer survey of 600 small business owners finds entrepreneurs reporting higher sales and profits, and increased hiring, compared to last fall. Twenty-two percent said that over the past six months they increased their number of employees, compared to only eleven percent who said in Nov. 2011 that they had increased hiring.

“Michigan’s economy grew in the first half of this year and entrepreneurs responded by picking up the pace in filling jobs,” says Michael Rogers, vice president communications for SBAM. “Many of our members have told us that they are also seeing the positive impact of the Michigan business tax reform and are investing the tax savings into growing their businesses.”

The survey found that:

• Thirty-eight percent of small business owners said sales had increased over the past six months. 
• Twenty-nine percent said profits had increased. 
• Twenty-seven percent said they increased employee wages.

Looking forward:

• Forty-four percent said they expect sales to increase to the next six months. 
• Thirty-nine percent said they expect profits to increase. 
• Twenty-six percent plan to hire more employees. 
• Twenty-four percent plan to increase wages.