Yahoo Finance's Ines Ferre outlines how small business owners continue to struggle in filling vacancies.
RACHELLE AKUFFO: Economists are forecasting tomorrow's job report will show the US added nearly 300,000 jobs in August. Now, one sector of the economy that's still struggling to find workers are small businesses. Yahoo Finance's Ines Ferre spoke to small business owners about how hard it is to find talent. So what did they tell you?
INES FERRE: Rachelle, it's been so interesting to speak with these small businesses. I spoke to one small business owner, Nisha Pye, based out of Charlotte, North Carolina. And she has an accounting firm. And she serves about 80 other small businesses. She said it took her one year to find a part-time bookkeeper. That role was offering $25,000 to $35,000 a year, plus benefits, plus a 401(k) plan, with matching contributions-- matching those contributions. And she said it just took so long. And so many of her small businesses have also struggled to find workers. She services small businesses like restaurants, in the retail space as well.
I also spoke to another small business owner. He owns a driving school in Atlanta. He said that over the last two years, he has been able to hire two drivers. And his business really boomed once the classes went online. So now, they can service all of the state of Georgia. And his job opening-- his jobs are for $20 an hour. And he says he still has to fill another three positions.
- Ines, what about the fact that just, more broadly speaking, especially when you look at public companies? We know over the last couple of months, we've heard a number of layoff announcements or companies that have decided to put their hiring plans on hold. Any indication that is also happening within the small business space?
- Not as much, at least what some surveys are showing. There's a survey by Vistage in "The Wall Street Journal," which shows that small businesses-- 70% of small businesses that are surveyed have said that they don't plan to change their hiring plans, about 17% do say that they will be changing their hiring plans. But 52 businesses out of these surveys for the last three surveys have said that they plan to hire in the year ahead.
And now, the key is that they have to raise their salaries in order to hire. They have to offer benefits. They have to offer bonuses. And that is what we have heard also from the small business owners, that they have had to up their game. They are not these big companies. They're not the big tech companies that a lot of people want to work for. These are small businesses. Some of these jobs are remote so that you would think would be a plus. But the clincher is that you really have to up that salary.
- All right, and that's very. Great reporting. Thanks so much for bringing that story to us.