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BizReport : Advertising archives : May 02, 2016

Poll: SMBs worried over benefits, pay

This week marks Small Business Week, a week when small businesses are recognized for their contributions to our cities and states. A new poll underlines some of the worries small business owners are dealing with as we head into the second half of 2016.

by Kristina Knight

"There are more than 28 million small businesses serving as the economic engine of our country, employing half of the private sector and creating two out of three net new jobs. If our small business sector was a country, its output would rank number three above Germany and Japan. I'm looking forward to welcoming these talented entrepreneurs to their nation's capital and celebrating their stories to shine a light on American ingenuity and innovation," said Maria Contreras-Sweet, the head of the U.S. Small Business Administration. Contreras-Sweet and the SBA will be on a tour of small businesses around the country, recognizing them for their efforts.

Meanwhile, Manta polled small business owners about employee benefits, and found that they are feeling the pinch - mostly from prospective employees - about benefits plans. According to the poll about 47% of potential employees put the pressure on about benefits. Employers are also feeling the pinch from their competitors' plans. Other interesting findings from the poll include:

• 72% of SMBs offer paid vacation, the most common benefit
• 57% offer paid sick leave
• 58% of SMB owners say they offer flex time benefits
• 46% offer remote work options

And, with California and New York passing new $15/hour minimum wages, SMB owners across the country are wondering how this might affect their business. While Manta's poll suggests more than half support higher minimum wages, many are still unsure how they will make the compensation change.

Tags: Manta, SBA, small business trends, small business week, SMB Trends

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