According to the PNC Economic Outlooks, small and mid-sized businesses show a lot of promise in terms of growth and hiring. The most since 2012, actually.
26% of owners are planning to hire more full-time employees in the next six months. In additions, 42% of owners expect to increase employees’ pay, which is higher than spring projections and the highest since 2007. However, these same small and mid-sized businesses are finding it harder and harder to find and hire qualified workers. 11% of those owners who are not hiring are doing so because they cannot find workers with the right skills.
Overall, 87% of employers are optimistic about the future sales and profits. 70% of business owner plan on making a net profit this year.