Almost 75% of Small Business Owners in U.S. Confident Their Businesses are Looking Up in 2014

  • Small Business Confidence Survey shows half of small business owners plan to hire more employees throughout the year

SAN LEANDRO, Calif. – May 13, 2014 – TriNet (NYSE: TNET), a leading cloud-based provider of HR services, today announced results of its Small Business Confidence Survey. The survey explores the opinions of U.S. small business owners in regard to issues such as their outlook on the state of their companies and on federal and state legislation. According to the survey, conducted by Harris Poll on behalf of TriNet, 74% [1] of respondents strongly or somewhat agree that their businesses will grow their revenue in 2014. This survey was conducted online within the United States between January 20-30, 2014 among 206 U.S. owners of small businesses with 10-49 employees.

In addition to confidence in their businesses, the survey also found that:

  • With this positive outlook, 50%[2] of small business owners plan to hire more employees this year. More specifically in terms of importance to business owners, 35%[3] of respondents surveyed rank hiring qualified staff as one of their top three most important issues that concern them.
  • Financial issues such as getting new business, managing expenses, and cash flow are top of mind for small business owners. Each issue ranks among their top three concerns, as cited by 51%, 49% and 48% [4]of respondents, respectively. Also in the top three concerns of small business owners surveyed are taxes and managing debt, which at 24% and 13%[5], respectively.
  • Less tangible but still important to business owners is the ability to maintain a balance between their work and personal life, with 32%[6] of small business owners ranking this in their top three issues of importance.

Small businesses are a critical growth driver to the American economy. In the past 20 years, big business eliminated 4 million jobs while small businesses added 8 million new jobs.[7] In addition, small business represents over 99% of U.S. employer firms.[8] This belief may be what is driving owners to invest in their businesses, including the hiring of new employees and expanding of their office locations.

Supporting Quote

Burton Goldfield, President and CEO, TriNet

“It’s encouraging to see that small business owners are investing in the future of their companies, including hiring new employees. Getting great people on their team as well as managing expenses are two challenges for all small business owners. TriNet is committed to supporting entrepreneurs in these areas and I firmly believe our solutions help owners increase their bottom line while freeing them up to focus on building their business.”

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Methodology

This survey was conducted online within the United States by Harris Poll on behalf of Horn Group and their client TriNet between January 20-30, 2014 among 206 U.S. owners of small businesses with 10-49 employees. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Michelle Sieling at michelle.sieling@horngroup.com or 415-905-4013.

About TriNet

TriNet (NYSE: TNET) is a leading provider of a comprehensive human resources solution for small to medium-sized businesses, or SMBs. We enhance business productivity by enabling our clients to outsource their human resources, or HR, function to one strategic partner and allowing them to focus on operating and growing their core businesses. Our HR solution includes services such as payroll processing, human capital consulting, employment law compliance and employee benefits, including health insurance, retirement plans and workers compensation insurance. Our services are delivered by our expert team of HR professionals and enabled by our proprietary, cloud-based technology platform, which allows our clients and their employees to efficiently conduct their HR transactions anytime and anywhere. For more information, please visit http://www.trinet.com.

 

Media Contacts:

Jock Breitwieser                                    Michelle Sieling

TriNet                                                       Horn Group

Jock.Breitwieser@TriNet.com            Michelle.Sieling@horngroup.com

(510) 875-7250                                      (415) 905-4013

 

TriNet, Ambitions Realized and the TriNet logo are registered trademarks of TriNet. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.


[1] Small Business Confidence Survey

[2] Small Business Confidence Survey

[3] Small Business Confidence Survey

[4] Small Business Confidence Survey

[5] Small Business Confidence Survey

[6] Small Business Confidence Survey

[7] U.S. Small Business Administration: Small Business Trends

[8] U.S. Small Business Administration: Small Business FAQ