National, regional and metro small business employment trends will soon be gathered for a new monthly report being launched by Paychex and IHS Inc. Paychex is a leader in human resources, payroll, insurance and benefits outsourcing, while IHS is a source for business information and trends.
The Small Business Jobs Index aims to be a go-to source for business owners who may be interested in getting a small business loan to expand their operations, whether for heavy equipment financing, to boost hiring or grow the physical size of its headquarters.
Based on payroll data from about 350,000 of Paychex’s small business clients with fewer than 50 workers, the Small Business Index will have one of the largest sample sizes for such similar reports around the country. The report also will analyze year-over-year trends to provide historical perspective to business owners considering growing their business capital.
“Paychex is proud to partner with IHS to launch what we believe will be the most timely, accurate and reliable indicator of small business employment in the United States,” said Martin Mucci, president and CEO of Paychex. “With small businesses representing nearly 95 percent of all businesses in the U.S., we believe tracking the employment trends of Main Street is the best way to gauge the country’s employment picture.”
Business owners who are more confident in the U.S. economy may want to seek financial assistance from nontraditional lenders like National Funding, which offer greater ease of access and more flexibility in regard to loan terms. The company also offers merchant cash advances, capital, and equipment leasing and financing, acting as a virtual one stop shop for small business owners seeking alternatives to big banks.