TD Bank says local small business owners expect to meet or exceed their projected revenue performance by this year’s end – up from 69 percent in 2013.
That fact is among the findings of TD Bank’s second annual Small Business Pulse Check, which polled more than 250 small business owners in the region, including some in Chester County.
Significantly fewer of the Philadelphia region’s business owners (47 percent) feel the national economy has had a negative impact on their business over the past year compared to 2013 (56 percent). With lingering economic fears subsiding, 54 percent of regional small business owners are projecting revenue and sales growth next year, compared with only 48 percent of those surveyed in 2013.
Business owners say they are expecting to see revenue and sales growth, and plan to streamline costs. Twenty percent of small business owners said they plan to apply for a loan or line of credit in the next year.