Job creation and confidence among small businesses in the tri-state area of New York, New Jersey and Connecticut has been steadily improving in recent months, according to a report released Monday by web-based human resources firm CheckPoint HR.
Employment among the region's small and medium-sized firms grew by 4 percent in 2010, with a 1 percent gain in December alone.
What's more, 50 percent of respondents stated they believed business was better in 2010 than it was the previous year. Forty-nine percent stated they plan to maintain current staff levels, while 39 percent claimed they plan to hire. Finally, as much as 64 percent of respondents plan to increase salaries this year.
"While employment did not rebound as quickly as everyone had hoped for in 2010, hiring did outpace employee terminations which is a good sign for the economy," said Neil Friedman, CFO of CheckPoint HR. "According to our survey results, employers in the tri-state area are much more optimistic on employment and business growth for 2011."
The survey was released a day before the Thomson Reuters/PayNet Small Business Lending Index, which found borrowing among the nation's small businesses jump 20 percent in December, which bodes well for entrepreneurs looking to form an LLC in New York.
Tags : incorporation news, ny, small business management
Posted: Feb 1st, 2011