Automatic Data Processing (ADP), a provider of business outsourcing solutions, has released their Small Business Report, and the results are optimistic.
According to ADP, over 200,000 small business jobs have been created in the last six months. The study reflects a continuation of this growth by showing that small businesses, defined as companies with less than 50 workers, added 28,000 new jobs during September.
Here’s a breakdown of the findings:
Total small business employment: +28,000
Goods-producing sector: -16,000 small business jobs
Service-providing sector: +44,000 small business jobs
“This month’s growth was up from August’s revised increase of 17,000, and offers a continued sign of resiliency among small-size businesses when compared to the job losses experienced at larger firms,” said Joel Prakken, chairman of Macroeconomics Advisers, who compiles the ADP report.
The Small Business Report, a subset of their National Employment Report that will be released Nov. 5, is a measure of non-farm private employment, derived from aggregated and anonymous payroll data that represents approximately 399,000 of ADP’s 500,000 U.S. business clients and roughly 24 million employees working in all 19 of the major North American Industrial Classification (NAICS) private industrial sectors.
October 1st, 2008 at 1:34 pm
Small businesses that grow and are profitable not only need more manpower, it also requires more capitol needed for advertising and public relations, amongst others. So what happens, regardless of profitability and a solid business plan, when the banks stop lending? It will be interesting to see the same report by ADP in the next several months -after the money has dried up- if small business is still resilient.