Employment Up, Revenues Down at Small Businesses

Good news and bad news: small-business employment is up, revenues are down and one industry continues to grow in spite of it all.
President, Proximo, LLC
January 31, 2013

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.

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President, Proximo, LLC