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TD Bank: 29% of Northeast Small Businesses Look to Increase Capital Investment

May 23, 2012, 07:30 AM
Filed Under: Economy

A new survey of Northeast small business owners by TD Bank reveals that although confidence in the U.S. economy remains low, the majority of those polled expect to meet or improve revenues, and have stable or increased employee headcounts in the upcoming months.

TD Bank's survey – which polled 500 small business owners across the Northeast – revealed that nearly three-quarters (74%) of small businesses expect to meet or exceed revenue projections this spring. This indicates improved performance, as only 60% of polled small businesses said they met or exceeded revenue projections in the first few months of 2012.
Although only 26% of respondents are optimistic about the U.S. economy, an encouraging 95% said they plan to maintain or increase staffing levels over the next quarter, with 27% looking to hire one or more employees.
"Despite lingering conditions that are affecting economic optimism, we have seen firsthand that entrepreneurial spirit and determination in the Northeast remains alive and well," said Fred Graziano, Head of Regional Commercial Banking, Government Banking and Small Business, TD Bank. "These survey findings indicate that no matter what obstacles are thrown their way, Northeast small business owners believe they can improve their revenue streams and in some cases, add employees to help contribute to the success of their business."
The survey indicates that Northeast small business owners are just as happy or happier today than they were a year ago (65%) and remain committed to investing in their business.

When asked what their capital investment plans were over the next quarter, a majority (59%) of those polled plan to keep capital investments at the same level while 29% look to increase investments. Of those looking to increase, 6% plan to do so by 15% or more over the next quarter.

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