A recent survey conducted by SurePayroll found that small businesses hiring and salaries dipped slightly in August, continuing the same trend as the month prior.
In addition to finding a decrease in hiring, the survey also found 82 percent of small business owners did not attempt to get a loan in August. Out of those who did, 32 percent had a difficult time securing the loans, which has been one of the major small business challenges as of late.
"For a long time, the banks have taken a beating for not lending enough to small businesses, but this data suggests the banks may not be the problem," said SurePayroll CEO and President Michael Alter. "There's simply not enough demand in the economy. Many small businesses don't have a reason to spend. Those businesses that do aren't having a problem getting loans."
Even though hiring is down overall, the South saw a slight increase. The region had a 1.3 percent increase this year, whereas the West, Midwest and Northeast had a 5.1 percent, 2.1 percent and 1.7 percent decrease.