Small businesses hiring more in 2015

The job market has not recovered since the 2008 recession, but small business hiring is gaining momentum as 2015 continues. The high value of the dollar allows these small companies to employ workers domestically. Firms with under 50 employees are expected to help the job market the most and contribute to more than half of all payroll gains. The year has already shown promising results for the job market. Payroll processor ADP estimated that small businesses added 103,000 jobs in February this year and 108,000 in March despite slow growth at large companies.

Although smaller companies are thriving, large corporations are unable to add jobs as rapidly due to the strong dollar. When recovering from the recession, bigger companies were able to add jobs in international markets. However, the strong dollar makes U.S. goods more expensive for overseas buyers, and big companies will not able to hire as many workers as small companies this year.

In addition to a stronger U.S. dollar, money is more available to small businesses than in 2008. With energy prices low, consumers are able to spend more money on local businesses, making consumer demand high for many businesses with under 50 employees. Loans are also easier to obtain this year for small companies. According to Biz2Credit, a funding consultant for small firms, “big banks approved 21.5% of small-business loan requests in February, a post-recession high.” Small companies are thriving, and look forward to a great year for both profit and employment.

Click here for the full story from USA Today, or click here for more Front Street news... 

 

Comment /Source

Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

 Subscribe in a reader

Subscribe to Front Street's News Page by Email