Media Releases - 2008 - SurePayroll Announces Top Ten States for Small Businesses in 2008
SurePayroll Announces Top Ten States for Small Businesses in 2008
SurePayroll Small Business Scorecard provides insight into best states for small businesses.
GLENVIEW, Ill. — February 18, 2008 - SurePayroll released its annual "SurePayroll Top Ten States for Small Businesses" list today, identifying the states in which small businesses have the best potential to do well in 2008. Utah, Washington and New Jersey ranked highest in the SurePayroll Top Ten study, which is based on SurePayroll's monthly Small Business Scorecard. "These states showed strong growth in small business hiring in 2007," said SurePayroll President Michael Alter. "We believe they will continue to be strong states for small businesses throughout 2008." The SurePayroll Top Ten According to SurePayroll, the 10 states that will be best for small businesses in 2008, ranked by likely performance, are:
SurePayroll awarded these states its SurePayroll Top Ten designation because they have had strong growth in the past. For example, small businesses in Utah, Washington and New Jersey led the nation by growing 14.6, 11.9 and 10.9 percent in 2007, respectively. This is Utah's second year at the top of the SurePayroll Top Ten list. The SurePayroll Top Ten is based on employee growth. The underlying presumption is that growth in size suggests that a small business is doing well. Of the SurePayroll Top Ten – those states SurePayroll identifies as fast-growth states for small businesses in 2008 – eight states (Washington, New Jersey, North Carolina, Oregon, Ohio, California, Georgia and Colorado) had both growth in headcount and growth in average salaries in 2007. Utah and New York, in contrast, witnessed a decline in average small business payrolls, with salaries dropping by 0.1 percent on average in Utah and by 6.2 percent in New York. "The ability to grow employee headcount in an environment where labor costs are rising further demonstrates the strength in these Top Ten states' small business economies," noted Alter. "Although market fundamentals took a turn for the worse towards the end of the year, 2007 was mostly win-win for employers and employees, with new jobs being added and more money going into employee pockets." About the SurePayroll Small Business Scorecard SurePayroll, the nation's fifth largest payroll provider and largest online payroll provider, aggregates data for more than 18,000 customers on a monthly basis and provides a set of economic indicators that provide insights on how well the small business economy is doing. About SurePayroll: Voted Editor's Choice for best payroll service by PC Magazine, SurePayroll is America's largest full-service online payroll service. In addition to its payroll and ClickFREE™ tax file and pay service – which allows a user to complete the entire payroll process in minutes – SurePayroll provides HR and compliance resources, workers' compensation products and 401(k) retirement solutions designed specifically for small businesses. SurePayroll also offers a private-label and co-branded payroll service to accounting and banking partners to offer payroll processing to their small business clients. SurePayroll is passionate about small businesses and their payroll. The company is dedicated to providing an extremely friendly and simple payroll experience - at a price small business owners can afford. For more information, visit www.surepayroll.com. For Media Inquiries Contact: Frank Krolicki |
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