March 22, 2019

Survey Reveals 56% of Bloggers Get Better Results by Spending 6 Hours on a Post

Blogging Stats: 56% of Bloggers Spending 6 Hours on a Post Get Better Results

Blogs have become one of the most effective ways of communicating with digital technology. And the maturation of the medium has resulted in bloggers spending more time to create high-quality posts which deliver better results.

The latest blogger survey from Orbit Media has revealed 56% of bloggers who spend six-plus hours on a blog post get better results. It goes without saying the more time you spend on a post the better it will be.

While spending six hours on a single post is possible for professional bloggers, the same doesn’t apply for someone running a small business. But an owner who knows his or her craft can write an informative post in less time and have the same impact for the desired audience.

In the report, Jay Baer of Convince and Convert highlights the importance of definitive content. Baer says, “To succeed with blogging (or just about any written word online) you must provide definitive content. Not just some half-baked flotsam and jetsam that is 85% the same as the other 5,237 posts on the topic, but real meaty stuff.”

Baer agrees long-form content delivers, with this caveat. Adding, “All of this long-form opining demands the one thing that is a finite resource for bloggers: time.” This is especially true for small business owners using blogs to engage with their customers.

For this year’s edition, more than 1,000 bloggers were asked what goes into posting successful content. Everything from the length of the post to the frequency, the process, types of content they promote and more was part of the survey. This is the fifth year of the Orbit Media annual blogger survey.

More Blogging Stats

Bloggers were asked a range of questions, including the time, length and frequency of their blog posts.

In 2018 the average time for writing a blog was 3 hours and 28 minutes, which is a little more than an hour compared to 2014. But according to the survey, half of all bloggers spend less than three hours per post. And only one in eight of them spends over six hours on an article.

As to how long it takes for the typical post, 6% said less than one hour followed by 21% who said 1-2 hours per post. The largest percentage, 23%, spend 2-3 hours on a typical post, which was almost the same amount for those spending 3-4 hours at 22%.

Fourteen percent of bloggers said they spend 4-6 hours and 13% were investing more than six hours to make sure they had the perfect blog.

Does it Pay Off to Spend all that Time on a Blog Post?

According to the survey, it does. The report says bloggers who invest more time are seeing strong results for their effort.

While 24.3% of bloggers who spend less than one hour say they saw strong results, it jumped all the way to 38.9% for those investing 6+ hours. The difference between bloggers spending 1-6 hours is not that significant, ranging from 24.8% to 27.2%.

Length of a Blog Post

The length of the average post has grown by 351 words or 42% since 2014 when it was 800 words. Today the average post is 1,151 words, but long-form posts over 2,000 words deliver strong results.

In the survey, 9% of bloggers said a typical post for them is fewer than 500 words. The vast majority or 46% said they posted blogs with 500-1,000 words, followed by 26% with 1,000-1,500 words.

Bloggers writing 1,500-2,000 made up 11% of the surveyed group and only 8% were posting blogs with more than 2,000 words.

The results for this group is also on the same path as those spending more time. While less than 20% of bloggers writing fewer than 500 words reported strong results, it goes above 50% for long-form writers.

How Often are Bloggers Publishing?

In 2014 most bloggers said they posted several times per week. Today the frequency has gone down to several per month. The number of daily bloggers has also gone down by half.

An equal number or 2% said they publish daily or more than daily. Another 18% said 2-6 posts per week, followed by 21% posting weekly and 23% several times per month.

Publishing frequency will dictate results. And in this case, 68.8% of bloggers publishing more than daily and 62.5% of daily publishers said they had strong results. The number dramatically decreases for bloggers posting monthly or less than a month to 17.5% and 12.9% respectively.

The report also looks at analytics, formats, original research, promotion, guest posts and more.

You can read the full report here.

Image: Depositphotos.com

This article, "Survey Reveals 56% of Bloggers Get Better Results by Spending 6 Hours on a Post" was first published on Small Business Trends

March 22, 2019

Looking To Start An Online Store? Here Are Some Websites Where You Can Search Domain Names

Your domain name plays a very important role in defining your online presence. You need to find domain names that align with your brand name. It’s your domain name that your audience will use to find your website. Picking a domain name for your business is not an easy task, and can turn out to be quite overwhelming.

Use domain name generators to search domain names that align with your business

But, today there are various domain generator websites through which you can search domain names for your website. Here’s a list of seven such domain name generating websites you can try.

Domain Name Generators To Search Domain Names

  •  Shopify Business Name Generator is a free-of-cost domain name generator as well. You can search domain names by using possible keywords associated with your brand. Once you put the keywords that you want in your domain name, Shopify ‘s business name generator will provide you with a set of suggestions. The suggestions offered by this tool use the ‘.com’extension.
  • ‘Bust A Name’ is another domain name generator that you can rely on when you want to search domain names for your website. This domain name generator comes with different filters that you can apply when finding an ideal domain name for your website. You can search by specific keywords as well as by applying filters like ‘starts with’ and ‘ends with’. With Bust A Name, you can add different extensions to your domain name. This includes .com, .org, .net. You can also look for random domain names for your website when you don’t have any keywords in mind.
  • Lean Domain Search allows you to search domain names by alphabetical filters, length filters as well as by the level of popularity. Here, you can also save your favorite domain names. Further, you have the option of tracking all your search history through this domain name generator. A great thing about this domain name generator is that it allows you to know if a domain name is already taken.
  • NameStall is another domain name that you can go for. It comes with a range of tools with which you can conduct a domain name search. You can also use filters such as popular keywords, the category of industry, parts of speech, domain extensions and more. You can get the keywords to be added to the beginning or the end of your domain name. This domain name generator tells you which of the domain names are both taken as well as those that are not yet registered. There’s a brand-wise domain name list on this domain name generator tool as well.
  • Panabee is another domain name generator that you can consider. It’s a domain name generator as well as a business name generator. You can use two keywords and then search for all the possible domain name suggestions for your website. Panabee will also alert you if your domain name is already being used by someone else on the internet.
  • Name Station is one more domain name generator that you can use to search domain names. You can sign up on this tool using your email account or your Facebook This tool gives you access to not only the domain generator but the instant availability checker as well. With this, you can check if your domain name is available or not. With Name Station, you can search for your ideal domain name by using filters like name length, domain extensions, and other relevant filters. This tool offers keyword suggestions as well.
  • Instant Domain Search is another tool where you can search domain names. It’s great for you especially if you have already thought of a domain name for your website. The tool allows you to check if a given domain name is available or not. Instant Domain Search will also suggest alternative domain names related to the ones that you want. This way, if they’re already taken you can still look for a related domain name. Moreover, they also let you know which of the domain names are open for auction.

With several options available on the internet, today, buying a domain name can be easy and hassle-free. But it’s difficult to come up with a unique domain name with so many brands online. Name generators like Shopify help you generate domain names automatically and also check if they’re available to use. If you’re planning to start an online store you should definitely think about using a domain name generator to come up with a unique domain name for your website.

The post Looking To Start An Online Store? Here Are Some Websites Where You Can Search Domain Names appeared first on MyVenturePad.com.

March 22, 2019

Survey Reveals 56% of Bloggers Get Better Results by Spending 6 Hours on a Post

Blogging Stats: 56% of Bloggers Spending 6 Hours on a Post Get Better Results

Blogs have become one of the most effective ways of communicating with digital technology. And the maturation of the medium has resulted in bloggers spending more time to create high-quality posts which deliver better results.

The latest blogger survey from Orbit Media has revealed 56% of bloggers who spend six-plus hours on a blog post get better results. It goes without saying the more time you spend on a post the better it will be.

While spending six hours on a single post is possible for professional bloggers, the same doesn’t apply for someone running a small business. But an owner who knows his or her craft can write an informative post in less time and have the same impact for the desired audience.

In the report, Jay Baer of Convince and Convert highlights the importance of definitive content. Baer says, “To succeed with blogging (or just about any written word online) you must provide definitive content. Not just some half-baked flotsam and jetsam that is 85% the same as the other 5,237 posts on the topic, but real meaty stuff.”

Baer agrees long-form content delivers, with this caveat. Adding, “All of this long-form opining demands the one thing that is a finite resource for bloggers: time.” This is especially true for small business owners using blogs to engage with their customers.

For this year’s edition, more than 1,000 bloggers were asked what goes into posting successful content. Everything from the length of the post to the frequency, the process, types of content they promote and more was part of the survey. This is the fifth year of the Orbit Media annual blogger survey.

More Blogging Stats

Bloggers were asked a range of questions, including the time, length and frequency of their blog posts.

In 2018 the average time for writing a blog was 3 hours and 28 minutes, which is a little more than an hour compared to 2014. But according to the survey, half of all bloggers spend less than three hours per post. And only one in eight of them spends over six hours on an article.

As to how long it takes for the typical post, 6% said less than one hour followed by 21% who said 1-2 hours per post. The largest percentage, 23%, spend 2-3 hours on a typical post, which was almost the same amount for those spending 3-4 hours at 22%.

Fourteen percent of bloggers said they spend 4-6 hours and 13% were investing more than six hours to make sure they had the perfect blog.

Does it Pay Off to Spend all that Time on a Blog Post?

According to the survey, it does. The report says bloggers who invest more time are seeing strong results for their effort.

While 24.3% of bloggers who spend less than one hour say they saw strong results, it jumped all the way to 38.9% for those investing 6+ hours. The difference between bloggers spending 1-6 hours is not that significant, ranging from 24.8% to 27.2%.

Length of a Blog Post

The length of the average post has grown by 351 words or 42% since 2014 when it was 800 words. Today the average post is 1,151 words, but long-form posts over 2,000 words deliver strong results.

In the survey, 9% of bloggers said a typical post for them is fewer than 500 words. The vast majority or 46% said they posted blogs with 500-1,000 words, followed by 26% with 1,000-1,500 words.

Bloggers writing 1,500-2,000 made up 11% of the surveyed group and only 8% were posting blogs with more than 2,000 words.

The results for this group is also on the same path as those spending more time. While less than 20% of bloggers writing fewer than 500 words reported strong results, it goes above 50% for long-form writers.

How Often are Bloggers Publishing?

In 2014 most bloggers said they posted several times per week. Today the frequency has gone down to several per month. The number of daily bloggers has also gone down by half.

An equal number or 2% said they publish daily or more than daily. Another 18% said 2-6 posts per week, followed by 21% posting weekly and 23% several times per month.

Publishing frequency will dictate results. And in this case, 68.8% of bloggers publishing more than daily and 62.5% of daily publishers said they had strong results. The number dramatically decreases for bloggers posting monthly or less than a month to 17.5% and 12.9% respectively.

The report also looks at analytics, formats, original research, promotion, guest posts and more.

You can read the full report here.

Image: Depositphotos.com

This article, "Survey Reveals 56% of Bloggers Get Better Results by Spending 6 Hours on a Post" was first published on Small Business Trends

March 21, 2019

How to Integrate Automation into Your CRM Sales Processes

Automation has transformed the way online businesses operate by reducing manual tasks and saving time spent on key business processes. For example, automation can help to streamline your customer acquisition and management tasks, improve communication with prospects and your team members, and enhance your overall digital marketing work.

The same benefits can also be extended to your sales department where reps and other members spend a lot of their time prospecting, qualifying leads, engaging customers, and closing sales. In most cases, each of these stages involves repetitive tasks like making calls, sending out emails, initiating contracts, negotiating multiple deals, and much more.

As you can imagine, most sales reps find it challenging to stay on top of these tasks and thus end up wasting lots of valuable time that would have otherwise be spent doing actual work that brings money on the table.

To achieve this, investing in sales automation technology would be a great place to start if you’re looking to save both time and money.

If this sounds like your current situation, we’ve compiled five core sales activities that you can successfully automate to level up your CRM sales processes

Automate marketing and email campaigns.

If you’re already marketing your business online, it’s highly likely that email marketing is a key contributor to the success of your campaigns. Unfortunately, you cannot achieve much if you do all the email marketing work manually, and this justifies the need to incorporate automation into the process.

A number of effective tools have been created to help with this, chief among them being email autoresponder tools and CRMs. You can even combine the two to achieve even better results on aspects like collection of emails, creating appealing landing pages and contact forms, setting up autoresponder email sequences, and tracking customer behavior. For example, this Pipeline MailChimp integration helps you sync contacts and other crucial customer data between Pipeline CRM and MailChimp software. In the end, you have a more complete system that allows you to do all your email marketing work from a single point.

Managing your sales pipeline

Automating your sales pipeline management can help you get rid of the manual data entry and spreadsheet processing tasks that sales agents often have to grapple with every day. For example, using a CRM tool, reps can organize, track and manage most of the sales information within a single dashboard. This translates to optimized workflow that is crucial to proper management of your sales and in scaling business operations.

Prospect monitoring and lead tracking

As a business owner, you should monitor every move your prospect makes to ensure you send personalized sales pitches at the right time. However, it can be quite difficult to track the behavior of prospective customers without the help of automation. What’s more, the longer it takes you to track a lead and make an appropriate move, the lesser the chance of closing a sale.

By integrating automation, you can easily monitor engagement levels and activities of prospect in real-time to avoid missing out on potential sales. Take advantage of any information collected at this stage to initiate meaningful conversations that influence the customer’s purchase decision.

Order management

Order management involves a lot of collaboration as the sales team has to work with the finance and procurement units alongside other stakeholders. Some of the key activities to do here include approving, tracking, and managing sales orders.

By using a proven CRM tool to automate these processes, you not only minimize time wasted as different departments communicate constantly, but also reduce losses emanating from poor order records management.

Day-to-day business tasks

Other than the modular tasks of sending emails and monitoring leads, sales representatives can also automate other regular administrative tasks such as:

  1. Data entry

There’s no shortage of tools to help with auto-populating relevant customer and order information into a CRM database. This saves time spent on performing manual entries.

  1. Invoice generation

When a contract or deal is won, your sales team doesn’t have to manually generate an invoice for the customer. Automating your CRM ensures invoices are created automatically when you update the deal status to “Won”.

iii. Scheduling appointments

Scheduling meetings with prospects often involves frequent email communication and reminders. Luckily, with the right automation tools, you can trigger reminder emails for meetings as scheduled on your calendar.

  1. Report generation

Automating reports creation can help to eliminate the complex manual tasks of collecting, grouping, analyzing, tabulating, and representing data. It further minimizes inaccuracies due to human errors.

Conclusion

While automation comes with numerous benefits as seen in this post, implementing it can be quite challenging especially for small businesses. To make the transition easier for you, consider researching and identifying the processes you need to automate first. Follow this up by identifying the different types of software to help you in automating these processes. Lastly, don’t forget to maintain a human touch with your prospects throughout the sales process by making calls, meeting customers, physically, and closing deals on paper when necessary.

Remember, it’s never too late or too early to incorporate automation in a business. Make the switch today and enjoy the unlimited benefits it brings to your business.

The post How to Integrate Automation into Your CRM Sales Processes appeared first on MyVenturePad.com.

March 21, 2019

Best CRM for Small Business: An Expert Look at the Top 5 Tools

Customer relationship management is crucial to driving sales and improving client loyalty. Shopping for a CRM tool? Here are the best CRM for small businesses.

In today’s business environment, businesses live and die by how well they manage customer relationships.

CRM tools can be incredible assets within a business. More companies large and small are turning to CRM to help them with sales, marketing, and customer service.  With the right contact management tools, you can get a better sense of what’s working within your business and where there are opportunities.

If you were to get a CRM for your business, which one should you get? Read on to find out what the best CRM for small business is.

SalesForce

SalesForce is one of the most comprehensive sales tools on the market. It is a CRM that is used across departments from sales to marketing to customer service. Every touchpoint with customers is documented and noted.

That give you robust reporting tools for the most important departments in your organization.

There’s a lot to learn with SalesForce. In order to get the most out of it, you should consider hiring a SalesForce consultant.

HubSpot

If you’re on a budget, HubSpot CRM is a tool for basic prospecting and contact management. With HubSpot, you can get a basic plan for free.

That integrates with your Gmail account, schedule meetings, track email opens, and create tasks for yourself.

ZohoCRM

ZohoCRM is an interesting option because it’s one of the few tools that currently uses AI and predictive analytics within the CRM tool.

You can get tools to help you manage your contacts through multiple channels, whether that’s through Live Chat, email, social media or by phone.

ZohoCRM also offers detailed reporting, so you can set up your KPIs and funnels and see the effectiveness of your campaigns at every step.

MailChimp

Wait, what? How did MailChimp get on the list of the best CRM for small business? You might think that this is out of place because you think of MailChimp as a way to send out emails.

When you think about it, though, Mailchimp is a CRM tool. It is a centralized way to manage your customer relationships.

It offers reporting and automation so you can communicate with your customers and potential customers. You can encourage referrals, upgrades, or move people through your sales pipeline.

SugarCRM

SugarCRM is a great solution for multinational businesses because of its ability to handle multiple currencies. It’s a great solution for manufacturing, banking, and business services.

The Best CRM for Small Business

What is the best CRM for small business? That’s up to you. It all depends on your business needs and how you need to manage your customer relationships, not to mention your budget.

The tools outlined here all have strengths that make them worth consideration. They offer the reporting that will help you make sound business decisions. They’ll help your sales team manage and schedule follow-ups and appointments.

They can also help your marketing team stay in front of your customers for more sales and referral opportunities.

Want more business tips? Read this article to learn how you can improve marketing communications with your clients.

The post Best CRM for Small Business: An Expert Look at the Top 5 Tools appeared first on MyVenturePad.com.

March 21, 2019

Uh Oh! Small Business Optimism Fading, Report Finds

Uh Oh! Small Business Optimism Fading According to the Spring 2019 Paychex Business Sentiment Report

The ebb and flow of the economy and its cyclical nature means there will be good and bad times. With such a strong economy in the last couple of years, it was inevitable the record-high small business optimism would eventually start fading.

Spring 2019 Paychex Business Sentiment Report

According to the latest Paychex Business Sentiment Report, business owners’ optimism has gone down in several areas since October 2018. Owners said business outlook, ability to fill open positions, and ability to raise wages are trending on the downside.

The report comes from 500 randomly selected business owners surveyed between February 15 and 26. Participants were polled on topics impacting their profitability and prospects for growth.

They were asked to rate their optimism on a scale of 1-100. One would represent the highest level of pessimism and 100 the peak of optimism.

As the third installment of the Paychex Business Sentiment Report, overall business owner sentiment is still optimistic. But as Martin Mucci, Paychex president and CEO, pointed out in the press release for the report there is a decline compared to the last report.

Mucci said, “The decline seen in these latest results are primarily around hiring and the ability to raise wages.”

He added, “This is the lowest level of confidence in employers’ ability to fill openings with qualified workers that we’ve seen since starting the Business Sentiment Report in July of last year. While jobs growth remains steady, business owners are still having a hard time finding candidates with the right skill sets to meet their needs in today’s tight labor market.”

The Tight Labor Market

The ability to fill open positions is getting harder because of the tight labor market. Unemployment levels are historically low, which makes it a job seekers market.

In the survey, the optimism level in finding the right qualified candidate is down by 8 points to 43/100. But overall small businesses are finding it less challenging to find talent.

Only 10% of companies with 1-19 employees said it was very challenging, while 23% with 20-99 employees and 40% with 100-500 employees said the same.

Wage Disparity

According to the Bureau of Labor Statistics (BLS) for February 2019, wages are up. Although it is only 3.2% over the last 12 months, the numbers are better than the stagnant wage growth over the past decade.

The problem mirrors the results in the Paychex report as the ability to raise wages is down 10 points to 41/100.  A further breakdown of the data reveals rural areas have it much harder when it comes to raising wages.

Urban regions in the US said their outlook was 49/100 in their ability to raise wages, while in rural parts of the country it went down to a low 15/100.

Overall Optimism

The overall optimism in the US economy is positive when you remove the ability to raise wages and finding qualified talent from the calculation.

In this report, the number is 72/100, which is up from the fall of 2018 when it was 65/100.

Businesses with 1-19 employees said their optimism level was 62/100, while those with 20-99 workers said 71/100. Companies with a workforce of 100-500 people were the most optimistic at 75/100.

Here is an infographic with some data points.

Spring 2019 Paychex Business Sentiment Report

Image: Depositphotos.com

This article, "Uh Oh! Small Business Optimism Fading, Report Finds" was first published on Small Business Trends

March 21, 2019

This Company Finds Tough Problems In the World, Then Launches Startups to Solve Them

Kairos is a company that creates companies. And those companies have a mission: Solve the problems that really need solving.

March 21, 2019

Best CRM for Small Business: An Expert Look at the Top 5 Tools

Customer relationship management is crucial to driving sales and improving client loyalty. Shopping for a CRM tool? Here are the best CRM for small businesses.

In today’s business environment, businesses live and die by how well they manage customer relationships.

CRM tools can be incredible assets within a business. More companies large and small are turning to CRM to help them with sales, marketing, and customer service.  With the right contact management tools, you can get a better sense of what’s working within your business and where there are opportunities.

If you were to get a CRM for your business, which one should you get? Read on to find out what the best CRM for small business is.

SalesForce

SalesForce is one of the most comprehensive sales tools on the market. It is a CRM that is used across departments from sales to marketing to customer service. Every touchpoint with customers is documented and noted.

That give you robust reporting tools for the most important departments in your organization.

There’s a lot to learn with SalesForce. In order to get the most out of it, you should consider hiring a SalesForce consultant.

HubSpot

If you’re on a budget, HubSpot CRM is a tool for basic prospecting and contact management. With HubSpot, you can get a basic plan for free.

That integrates with your Gmail account, schedule meetings, track email opens, and create tasks for yourself.

ZohoCRM

ZohoCRM is an interesting option because it’s one of the few tools that currently uses AI and predictive analytics within the CRM tool.

You can get tools to help you manage your contacts through multiple channels, whether that’s through Live Chat, email, social media or by phone.

ZohoCRM also offers detailed reporting, so you can set up your KPIs and funnels and see the effectiveness of your campaigns at every step.

MailChimp

Wait, what? How did MailChimp get on the list of the best CRM for small business? You might think that this is out of place because you think of MailChimp as a way to send out emails.

When you think about it, though, Mailchimp is a CRM tool. It is a centralized way to manage your customer relationships.

It offers reporting and automation so you can communicate with your customers and potential customers. You can encourage referrals, upgrades, or move people through your sales pipeline.

SugarCRM

SugarCRM is a great solution for multinational businesses because of its ability to handle multiple currencies. It’s a great solution for manufacturing, banking, and business services.

The Best CRM for Small Business

What is the best CRM for small business? That’s up to you. It all depends on your business needs and how you need to manage your customer relationships, not to mention your budget.

The tools outlined here all have strengths that make them worth consideration. They offer the reporting that will help you make sound business decisions. They’ll help your sales team manage and schedule follow-ups and appointments.

They can also help your marketing team stay in front of your customers for more sales and referral opportunities.

Want more business tips? Read this article to learn how you can improve marketing communications with your clients.

The post Best CRM for Small Business: An Expert Look at the Top 5 Tools appeared first on MyVenturePad.com.

March 21, 2019

Uh Oh! Small Business Optimism Fading, Report Finds

Uh Oh! Small Business Optimism Fading According to the Spring 2019 Paychex Business Sentiment Report

The ebb and flow of the economy and its cyclical nature means there will be good and bad times. With such a strong economy in the last couple of years, it was inevitable that the record-high small business optimism would eventually start fading.

Spring 2019 Paychex Business Sentiment Report

According to the latest Paychex Business Sentiment Report, business owners’ optimism has gone down in several areas since October 2018. Owners said business outlook, ability to fill open positions, and ability to raise wages are trending on the downside.

The report comes from 500 randomly selected business owners surveyed between February 15 and 26. Participants were polled on topics impacting their profitability and prospects for growth.

They were asked to rate their optimism on a scale of 1-100. One would represent the highest level of pessimism and 100 the peak of optimism.

As the third installment of the Paychex Business Sentiment Report, overall business owner sentiment is still optimistic. But as Martin Mucci, Paychex president and CEO, pointed out in the press release for the report there is a decline compared to the last report.

Mucci said, “The decline seen in these latest results are primarily around hiring and the ability to raise wages.”

He added, “This is the lowest level of confidence in employers’ ability to fill openings with qualified workers that we’ve seen since starting the Business Sentiment Report in July of last year. While jobs growth remains steady, business owners are still having a hard time finding candidates with the right skill sets to meet their needs in today’s tight labor market.”

The Tight Labor Market

The ability to fill open positions is getting harder because of the tight labor market. Unemployment levels are historically low, which makes it a job seekers market at the moment.

In the survey, the optimism level in finding the right qualified candidate is down by 8 points to 43/100. But overall small businesses are finding it less challenging to find talent.

Only 10% of companies with 1-19 employees said it was very challenging, while 23% with 20-99 employees and 40% with 100-500 employees said the same.

Wage Disparity

According to the Bureau of Labor Statistics (BLS) for February 2019, wages are up. Although it is only 3.2% over the last 12 months, the numbers are better than the stagnant wage growth over the past decade.

The problem mirrors the results in the Paychex report as the ability to raise wages is down 10 points to 41/100.  A further breakdown of the data reveals rural areas have it much harder when it comes to raising wages.

Urban regions in the US said their outlook was 49/100 in their ability to raise wages, while rural parts of the country it went down to a low 15/100.

Overall Optimism

The overall optimism in the US economy is positive when you remove the ability to raise wages and finding qualified talent.

In this report, the number is 72/100, which is up from the fall of 2018 when it was 65/100.

The economic outlook is brighter for large organizations. Businesses with 1-19 employees said their optimism level was 62/100, while those with 20-99 workers said 71/100. Companies with a workforce of 100-500 people were the most optimistic at 75/100.

Here is an infographic with some data points.

Spring 2019 Paychex Business Sentiment Report

Image: Depositphotos.com

This article, "Uh Oh! Small Business Optimism Fading, Report Finds" was first published on Small Business Trends

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