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Good news, bad news for Florida small businesses

goodnewsFlorida small businesses grew 0.7% in March, but salaries of small business employees in the state decreased by 1.2%, according to information gathered by SurePayroll, a small business payroll service, which aggregates economic statistics from information gathered from payroll data of 25,000 small businesses nationwide.

 

According to company president Michael Alter, the size of the average small business in Florida has increased by 2.4% year to date. Directionally, this is in line with the national trend, but the average small business paycheck in Florida has decreased by 3.6% year to date. Again, directionally, this is in line with the national trend.

 

Alter told Advantage magazine, “Florida’s year-to-date hiring growth has outpaced the national rate (up 0.8%) while salary declines are also outpacing the national average (down 1.8%).” The average small business salary in Florida now stands at $25,936, compared to $31,039 nationwide.

On the bright side, he said, Florida small businesses are net job creators, even in this down economy. However, these newly created jobs are not high-paying jobs. The average For Florida small business owners, it’s a buyers market for talent.

 

“All in all, Florida’s economy isn’t doing as badly as many people might think. Some industries have been hit hard, but other industries are doing just fine,” said Alter.

 

Source: Michael Alter, president, SurePayroll, www.SurePayroll.com


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