Small-business growth in Colorado inched up by an anemic 0.11 percent in July, the slowest growth recorded by small business in Colorado in 2012, according to Intuit’s Payroll’s Small Business Indexes.
The Intuit report, released Tuesday, tracks trends of the nation’s small businesses with fewer than 20 employees. The data is based on approximately 82,000 small-business owners who are customers of Intuit Online Payroll.
The employment increase in July nationally for small business was 0.17 percent, or 35,000 new jobs. Intuit has reported growth throughout 2012 in Colorado small businesses, but the rate has slowed.
In January, February and April, the Colorado growth rate was 0.5 percent; in March, May and June, it was 0.6 percent. The report said that nationally, compensation increased 0.3 percent in July and is now $2,724 a month, compared with a revised June figure of $2,717a month.
The Intuit Small Business Revenue Index said that small-business revenues are gradually recovering from recessionary depths, but are just now reaching levels seen before the recession began in 2007.
