In March, the index shows that small businesses continued to be resilient despite the Silicon Valley Bank collapse and ongoing tech industry issues. Despite declines in the technology and life sciences sector, businesses in the service-oriented sectors of agriculture, fishing and hunting, and arts, entertainment and recreation showed the most notable job gains.
Despite the ongoing challenges created by the Silicon Valley Bank collapse and the tech industry’s contraction, small businesses have remained resilient. According to the Cbiz Small Business Employment Index, job gains were seen in every region of the US in March, with the Northeast recording the highest growth at 2.23%. The Index reveals a particular focus on hiring in service-oriented sectors such as arts, entertainment and recreation, as well as accommodation and food services, as spring and summer months quickly approach. It’s clear that small businesses are still looking to hire talented individuals to fill vital roles, despite the current economic climate.