Small Business Staffing Levels Stable Despite Diminished Confidence
Small business owners are divided about what will pose the biggest challenge to their business in the next six months.Despite lowered optimism about the U.S. economy, a majority of small business owners anticipate stable revenues and balanced staffing levels in the months ahead, according to a survey from TD Bank. An encouraging 66 percent of small businesses polled during a recent TD Bank survey said they expect to meet or exceed revenue projections in the upcoming quarter-a slight increase from the 57 percent that met or exceeded revenue projections during their most recent fiscal quarter. Although two-thirds of American small businesses said they are not optimistic about the economy, TD Bank's survey-which polled 300 small business owners within the bank's Maine to Florida footprint-revealed that a majority (69 percent) expect to keep staffing levels the same over the next quarter, with 16 percent planning to add at least one position.
"American small business owners are a resilient group, and TD Bank's recent survey results are consistent with what we see each day in our communities from Maine to Florida," said Fred Graziano, head of regional commercial banking, government banking and small business for TD Bank. "Despite the economic obstacles they continue to face, these findings indicate that small business owners and employees continue to do what they can not just to make ends meet, but to exceed their business goals."