Small-business growth expanded in February to the highest level in nearly a year, according to a new study.
The Paychex IHS Small Business Index expanded last month to 100.75, up 0.10 percent from January and just 0.08 percent below the February 2015 level. A reading above 100 indicates growth.
The index has now regained all of its losses going back to April, Paychex and IHS said.
"The good news here is that this last three months has basically made up for all the decreases we had last year, so it's a pretty strong last three months for us, and it's broad based," Marty Mucci, Paychex president and CEO, told CNBC's "Squawk Box" on Tuesday.
The Mountain states continued to sit atop regional rankings for small-business growth last month, while Washington led states for a second-straight month. Dallas was first among metros, according to the report.