Small business revenues are gradually recovering from recessionary depths, but are just now reaching levels seen before the recession began in 2007, according to the first-of-its kind Intuit Small Business Revenue Index. The Revenue Index is based on anonymized aggregated data from QuickBooks Online, is the first in the market to provide current information on monthly small business revenue.
The August Indexes also shows:
• The revenue index indicates that small businesses overall saw an increased monthly compensation by 0.4 percent with an average monthly pay reaching the equivalent of $2,751, up $10 from July.
• Average monthly hours worked by hourly employees increased 0.6 percent in August, which is equivalent to 111.2 hours, up 42 minutes from July.
• Small business revenues overall saw a decline of 0.18 percent in July; the construction industry was the only one to show an increase, of 0.3 percent.
• Real estate services saw the greatest decline at a per-business level in July, while the health care industry has experienced the second largest – and the longest – overall revenue decline, at 3.2 percent since mid-2012.