Good news and bad news: small-business employment is up, revenues are down and one industry continues to grow in spite of it all.
Using aggregate data from Quickbooks online and online payroll processing, software maker Intuit can provide a broad snapshot into small-business performance. The results are in from the latest Intuit Small Business Revenue and Employment Indexes based on this data.
Revenues at small business decreased 0.4 percent on average in December compared to the previous month. Construction companies were the best-performing sectors with a 0.3 percent increase while retail and real estate where the worst-performing sectors with a 0.8 percent increase in both cases. For the year, construction once again came out on top with a nearly 4 percent revenue increase.
On the employment side, small businesses added around 20,000 employees during the month-long period from December 24 through January 23. This increase in the number of people working was coupled with a decrease in employee compensation and a slight decrease in hours worked.
About small business finance expert Mike Periu
Mike Periu has experience in small business finance. He founded Proximo, LLC a company that offers consumer and small business training services focused on technology and money.
Mike Periu teaches individual empowerment through entrepreneurship and financial literacy. He has appeared 500+ times on television and radio. Visit the Reach and Media pages of his website to learn more about where he has appeared.
You can read more of Mike’s articles on his blog or at American Express OpenForum, Yahoo! Finanzas and the Huffington Post.
Mike has a degree in International Business and Finance which he received at Georgetown University in Washington, DC. He received a Fellowship from the Kauffman Foundation for the Labs for Enterprise Creation program in Kansas City.
