Media Room
TD Canada Trust Small Business
Week Alberta Highlights
- What keeps small business owners in Alberta
up at night? Thirty-eight percent say they biggest worry is the
impact of the recession (vs. 31% nationally), followed by cash flow
(24% vs. 28% nationally)
- Fifty-eight percent of small business owners
in Alberta are optimistic that 2010 will be a good year or their
best year yet
- When asked to rate their business’
performance this year, 16% of Alberta small business owners gave
themselves an A or A+, indicating that they have had solid growth
or their best year yet (vs. 19% nationally). Forty-nine percent
gave themselves a B, indicating that they did as well as they
expected (vs. 44% nationally). Twenty-two percent gave their
business a C, saying that they did not have the year they planned
(vs. 21% nationally). Only 2% of small business owners in the
region gave themselves an F (same as national stat)
- Of those small business owners who gave
themselves an A or A+, 53% attributed their good year to the fact
that they were not impacted by the recession (53% vs. 56%
nationally)
- Thirty-four percent of small business owners
said the recession was their biggest challenge in the past year
(vs. 32% nationally), followed by cash flow (32% vs. 25%
nationally)
- How were Alberta’s small business
owners impacted by the recession? Thirty-six percent lost some
business (vs. 31% nationally,) 19% are in more debt than they were
12 months ago, 9% were forced to downsize their operations or
staffing and 1% say they came close to closing (vs. 5% nationally).
Interestingly, 7% grew their business despite the recession and 1%
grew their business because of the recession
- Nationally, small business owners in Alberta
are mostly likely to anticipate that the recession will be their
biggest challenge next year (38% vs. 30% nationally)
- When asked what changes, if any, their
company made over the past year, 41% of small business owners in
Alberta said they reduced operating costs (vs. 40%
nationally)
- Albertan small business owners say the best
thing about owning your own business is controlling their own
destiny (35%), followed by better work life balance (31%), and
being the boss, not reporting to anyone (22%)
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