Along these lines, significantly more small businesses expect that their firms will be hiring new employees in the next six months (October 26% vs. September 19%). In fact, more respondents across both small- and medium-sized firms (1-5 employees up to 20-99 employees) indicate that they will be adding new employees in the near future compared to findings seen only one month ago. Moreover, when asked why they’ll be hiring, more respondents in the October Small Business Index indicated that their “business is improving” (October 65% vs. September 48%) and that they feel that there is greater “economic certainty/stability” (October 24% vs. September 19%).
“What we are hearing is that many small businesses are beginning to see a light at the end of the tunnel – unfortunately nobody knows for sure what that light is,” said Neil Austrian, Interim Chairman and CEO for Office Depot. “With elections just around the corner and a new year on the horizon, there are a number of variables that will continue to influence SMB confidence throughout the fourth quarter.”
Despite a more positive outlook on the economy as a whole, the vast majority of small businesses surveyed indicate that the current economic environment will have an impact on their holiday gift planning – for both their clients and staff. Accordingly, fewer than two-fifths of the respondents plan on buying/sending gifts to their clients this year (38%), with just over half indicating that they will take care of their staff this holiday season (51%).
