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Burlington, MA – In anticipation of tomorrow’s release of the U.S. Department of Labor’s May 2015 Employment Situation Summary, Endurance International Group (NASDAQ: EIGI) today unveiled the results of its U.S. Small Business Hiring and Economic Sentiment Survey, providing insights and perspectives on small business owners’ views on hiring, wages and the economy.
“American small businesses continue to drive our economy forward, but we need to do more to support their growth and success,” said Endurance CEO and Founder, Hari Ravichandran. “Our latest survey shows that hiring and finding talent continues to be a challenge for small businesses. Even though most small business owners in our survey tend to be bullish on their business prospects, it’s clear that Washington needs to do more to address small business concerns on a variety of issues from taxes and bank lending to cybersecurity. The time to act is now.”
According to Endurance survey results, only 27% of small business owners plan to hire new employees in the last two quarters of this year. When it comes to hiring new employees, only 20% of respondents said hiring new employees was ‘easy,’ while 44% said hiring new employees was either ‘challenging’ or ‘downright difficult’ due to the unavailability of candidates with the right skills or training.
However, a majority of small business owners remain upbeat about their own business prospects with 70% saying their business outlook for the remainder of the year was ‘very positive’ or ‘positive.’ In contrast, only 42% of survey respondents had a ‘very positive’ or ‘positive’ outlook on the general economy.
In what may be a sign of cautious spending for small businesses, most owners (68%) said they would not be making any major investments in real estate, technology, materials or supplies in the last half of the year.
The Endurance survey also found that small business owners are conflicted on the issue of the federal minimum wage. Of those surveyed, 52% believe that raising the minimum federal wage would hurt their business. However, 54% of respondents believe that the federal minimum wage should be higher than the current level of $7.25.
When it comes to Washington’s involvement, a vast majority (78%) of respondents do not believe that Congress or the White House has had a positive impact on small businesses in 2015. Additionally, when it comes to improving small business owners’ ability to obtain bank loans and financing, 73% believe that the lending atmosphere has not improved.
Endurance’s Small Business Hiring and Economic Sentiment Survey was conducted between May 22-26, 2015 and surveyed 1,157 U.S. small business owners, all of which have web presence solutions from Endurance. For purposes of this survey, small businesses are defined as employing 10 or fewer people on either a full-time or part-time basis.
View the full survey results in an infographic here.
About Endurance International Group
Endurance International Group is a publicly traded (NASDAQ: EIGI) technology company that helps power small and medium-sized businesses online. Through its proprietary cloud platform, Endurance provides web presence solutions including web hosting, eCommerce, eMarketing and mobile business tools to approximately 4.2 million subscribers around the globe. The company’s world-class family of brands includes Bluehost, HostGator, iPage, Domain.com, A Small Orange, MOJO Marketplace, BigRock and ResellerClub, among others. Headquartered in Burlington, Massachusetts, Endurance employs more than 2,600 people across the United States in Utah, Texas, Washington and Arizona and in the United Kingdom, India, Israel and Brazil. For more information on how Endurance can help grow your business, visit endurance.com.
Endurance International Group and the compass logo are trademarks of The Endurance International Group, Inc. Other brand names of Endurance International Group are trademarks of The Endurance International Group, Inc. or its subsidiaries.