Black CEOs plan to increase hiring significantly in 2012, more so than any other race or ethnic group; 37.4% will increase hiring vs. 15.2% who will cut jobs. Black business hiring will be strongest in the Northeast and in Information Technology.
Women business owners are gloomy about the economy but plan to increase hiring in 2012. Their two most important strategic objectives are improving management efficiency and product and service quality.
Small businesses and minority businesses were hard hit by the recession, especially manufacturing and construction. The Gazelle Index survey shows they plan to increase future hiring.
The Gazelle Index survey shows that hiring will increase in 2012; 27% of small businesses will increase hiring and 14% will cut. We forecast a 7.8% or lower unemployment rate.
Small business owners want the Presidential candidates to cut business taxes (especially Hispanic businesses) and make bank loans more easily available (particularly black business owners).
Based on a national survey of small business CEOs, reducing the minimum wage would have the smallest positive effect on hiring among all policies. If the government does nothing, it will also hurt small business hiring.
The Paryoll Tax Extension bill finally passed Congress, but the arguing among Republicans and Democrats is hurting small business confidence–63% said it is making them more pessimistic.
According to the Gazelle Index, more than twice as many small businesses plan to hire workers than to lay off workers over the next three months. This is true for businesses owned by blacks, whites, men and women–but not for Hispanic/Latinos.
The Gazelle Index is a national survey of small businesses owned by whites, blacks, Hispanics, men and women. Small business hiring will increase in 2012 in all regions except the West and for all groups except Hispanics.
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