SAN DIEGO, Aug. 7, 2018 /PRNewswire/ -- Reliant Funding, a leading small business finance provider today announced the results of its latest survey focusing on a historically challenging area for small business: Hiring. Small companies have to overcome factors like a tight market which further limits the availability of good job candidates. They are also up against competition from larger companies who can often offer more perks than Small Businesses.
The survey was sent to a sample of US small business owners in June 2018 and focused on the onboarding behaviors, company perks, and competitive pay.
Key Findings on the State of Small Business Hiring:
The majority surveyed (71%) aren't planning to hire employees anytime soon.
However, 52% of small businesses say it's still difficult to hire employees that are qualified for positions.
72% of SMB's haven't offered higher wages to attract more qualified employees to their job openings.
Of those surveyed, most of their employees haven't asked for a raise in the past six months. (82%)
Majority of SMB's polled (59%) offer work schedule flexibility as a perk.
"The small business industry does more than any other sector to drive jobs and growth," said CEO of Reliant Funding, Adam Stettner. "Many aspects can influence a decision to bring on more employees including confidence in the future of their business, as our trends suggest."
"In the first few years of business, owners may view hiring additional employees as a luxury they can't afford because they lack the cash flow," says Stettner.
"Payroll and buying power are among the top five reasons why small business owners used our services in 2018. We help clients seize opportunities to scale their businesses as they mature and close that financial gap. It's why Reliant exists."
Since 2008, Reliant Funding has been helping American business owners access the capital they need to build and grow their businesses. Over the past ten years, we've been privileged enough to work with over 20,000 businesses and have funded over one billion dollars.
View the infographic and complete statistics from the report.
About Reliant Funding
Headquartered in San Diego with offices in New York, Reliant Funding provides customized, short-term funding to small and mid-sized businesses nationwide. Recognized for six consecutive years by Inc. Magazine among the 5000 fastest growing privately held companies in America For more information, please visit https://www.reliantfunding.com/