Small Business Finance News

Survey Says Small Business Owners Optimistic In Spite Of The Recession

Written by Jenna Weiner
Published: 1/20/2010

A survey from TD Bank indicates entrepreneurs have high hopes for 2010.

Many entrepreneurs were glad to say goodbye to 2009 and it seems many of them have high hopes for the new year as a new start for their businesses. According to the results of a survey conducted by TD Bank, 87 percent of small business owners predict that their business will perform at least the same or better in 2010.

Entrepreneur Money and Results

It might be good news for small business owners to learn that many of their ranks expect an economic upswing this year. A staggering 92 percent of SMB owners are considering proactive strategies to prepare for a better economy this year, and 36 percent expect their businesses to grow in 2010.

Still, this optimism is paired with caution. While 8 percent of respondents think 2010 could be their business' best year yet, 36 percent think it will take until at least the third quarter of 2010 before their businesses no longer feel the impact of the recession.

Fred Graziano, head of retail and small business banking for TD Bank, thinks the survey shows SMBs are well prepared for what's ahead. He thinks the results indicate "that small businesses will generally be well positioned to both ride out the storm and seize new opportunities for growth in 2010," he said.

This could also be encouraging news for the 10 percent of Americans who remain jobless because of economic downturn. Small businesses have generated 64 percent of net new jobs over the past 15 years.

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