In The East, Small Business Owners Optimistic
Written by Ken Gaebler
Small business owners in the East expect to meet next quarter's revenue projections.
A majority of small business owners in its Maine to Florida business sector have positive expectations for the second half of the year, according to a TD Bank survey released today.
Nearly three-quarters of respondents (73 percent) said they expect to meet or exceed next quarter's revenue projections, despite the fact that only 51 percent are optimistic about the economy as a whole, and 43 percent did not meet projections last quarter.
A spokesman for TD Bank said small business credit applications have gone up 20 percent since last year. This increase in borrowing accords with the 80 percent of respondents who said they plan to maintain or increase capital investments over the next 12 months.
In especially good small business news for the region where TD conducted its survey, 88 percent of respondents said they plan to hire or maintain current employee rosters during the next quarter. A fifth of respondents indicated they will hire for a new position.
A US Bank survey released last week, which considered Midwest and West Coast states, showed small business owners more circumspect about what the rest of the year will bring.
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