In December 2015, Wasp Barcode Technologies, a software solutions provider, 
conducted an anonymous online survey to gain a deeper understanding of the perception of their confidence in the economy, employment and the growth of small business owners. The State of Small Business 1102 includes data owners or managers of companies covering a wide variety of industries employing five to 499 employees. This year, the majority of small businesses are optimistic about the growth of their business, even if a significant percentage anticipates modest growth. Overall, the best owners three challenges small businesses face are hiring new workers, increased profits, and purchasing employee health care.
confidence in the economy
Although 30 percent of the trust owners economy remains the same as a year ago, 44 percent believe that 2016 will present a stronger economy. Twenty-eight percent of small business owners have confidence that this will be a little better in 2016, while 16 percent believe it will be much better. One percent of respondents were unsure, and a quarter of all respondents pessimistic opinions. Small businesses with five to 50 employees are more pessimistic about the economy than they were in 2015.
Top challenges
The biggest obstacle small business owners believe that they will face in 2016 is the hiring of new employees; However, when broken down into four groups depending on the size of the company, the owners have reacted differently. For those with five to 10 employees, increase their profits at the top of the list of challenges. The owners from 11 to 50 and 51 to 100 employees considered hiring new employees to be the most difficult, while those with 101-499 employees health care workers placed as their main concern. Compared to report last year, small business owners claim that the employee health and hiring will be more challenging for them in 2016.
Source - Wasp Barcode Technologies
strategies to improve revenue growth
on an optimistic note, 71 percent of small business owners expect to see their revenue increase in 2016. strategies of these companies intend to implement to achieve this growth include:
- Stimulating retention of existing customers and enhance the experience of these customers ( 48 percent);
- Presentation of goods and / or services (31 percent) costs;
- increasing their market (30 percent);
- hiring new workers (29 percent); and
- Investing in ways to attract new customers (28 percent).
2016 Hiring Trends
The report also provides an overview of hiring trends for small businesses in 2016 half of all small business owners plan to hire more workers this year; That's up from 38 percent last year. While 21 percent expect to make only one or two employees, plan to hire 35 percent three to five. Twenty-six percent of employers will seek six to 10 additional workers, and 16 percent will hire 11 or more employees.
Conclusion
While there are certainly substantive challenges facing small business owners this year, there are also many opportunities for growth. By providing a set of compelling benefits, including health insurance, small business owners can recruit quality employees and increase employee retention, which in turn boost revenue in the long run .
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