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Media Room

Press Kits - Business Banking - Small Business Week 2009

Media Room


TD Canada Trust Small Business Week Atlantic Canada Highlights

  • Small business owners in Atlantic Canada are the most optimistic about how they are feeling about their business in 2010. Sixty-six percent say that they think it is going to be a good year for their business or their best year yet (vs. 57% nationally)
  • When asked to rate their business’ performance this year, 18% of small business owners in Atlantic Canada gave themselves an A or A+, indicating that they have had solid growth or their best year yet (vs. 19% nationally). Fifty-three percent gave their business a B grade, indicating that they did as well as they expected (vs. 44% nationally). Eighteen percent gave themselves a C, saying that they did not have they year they planned (vs. 21% nationally). Only 2% gave themselves a failing grade (same as national stat)
  • Of those small business owners who gave themselves an A or A+, 69% attributed their good year to the fact that they were not impacted by the recession (vs. 56% nationally)
  • How were Atlantic Canada’s small business owners impacted by the recession? Twenty-seven percent lost some business (vs. 31% nationally), 21% are in more debt than they were 12 months ago (vs. 18% nationally), 9% were forced to downsize their operations or staffing and 3% say they came close to bankruptcy or closing. Interestingly, 11% grew their business despite the recession and 3% grew their business because of the recession
  • Thirty-two percent of small business owners in Atlantic Canada said cash flow was their biggest challenge in 2009 (vs. 25% nationally), followed by the recession (28% vs. 32% nationally). Twenty-eight percent anticipate that cash flow will continue to be their biggest challenge in 2010 (vs. 20% nationally), followed by the recession (24% vs. 30% nationally)
  • What keeps small business owners in Atlantic Canada up at night? The top two responses were the impact of the recession (32% vs. 31% nationally) and cash flow (32% vs. 28% nationally)
  • When asked what is the best thing about owning your own business, 48% of small business owners in Atlantic Canada said being able to control their own destiny (vs. 36% nationally). This was followed by a better work-life balance (25% vs. 29% nationally) and being their own boss (22% vs. 24% nationally)