Small Business Revenues Fall For Fifth-Straight Month

A new study by financial software and services provider Intuit finds small business revenues nationwide fell again last month.

Small business revenues fell 0.6% in August compared to July, their fifth decline in as many months. Susan Woodward, an economist with Intuit, describes the revenue numbers as “alarming.”

“After showing some recovery from about mid-2009 until early 2012, all sectors were looking pretty good. But for the last few months, revenues for all of our big sectors are headed down, and I do not know why.”

The retail and accommodation and food service sectors saw the steepest fall in revenues at just over 1%.

Meanwhile, small business hiring eked out gains of less than 0.2% in August. Texas did slightly better, with hiring in the state up 0.3%. Woodward cautioned, though, that Intuit is recalibrating its employment models and that the company is likely to revise the August hiring numbers downward.

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...