Last week, Intuit reported that small businesses added some 55,000 new jobs in December, as hours worked and wages climbed as well. Overall, employment among small firms grew by 0.3 percent.
Combined with a number of recent national reports, the Intuit index alludes to improvements in the small business sector, which accounts for roughly two-thirds of all new jobs in the U.S.
However, a number of analysts are beginning to approach the question of small business employment and growth on a local level, as certain states and jurisdictions are suffering more than others.
In New York City, for example, unemployment is hovering around the national average of 8 to 9 percent - high for a city with such a massive population of small merchants.
Colette Burnett, CEO of Super Wings NY in Crown Heights, Brooklyn, cites excessive regulation as a top obstacle facing entrepreneurs looking to form an LLC in New York.
"Small businesses put people back to work," she told the New York Daily News. "Give us the room to grow by rewriting the criteria for SBA loans. Simplify the process, lessen the paperwork, look at the business in its entirety and make decisions based on the viability of the idea and the excellence with which it is being managed."
Tags : LLC, S Corp, C Corp, New York
Posted: Jan 9th, 2012