Media Room
TD Canada Trust Small Business
Week British Columbia Highlights
- Twenty-nine per cent of small business
owners in B.C said the impact of the recession was the biggest
challenge in 2009 (vs. 32% nationally), followed by cash flow (26%
vs. 25% nationally)
- Fifty-three percent of small business owners
in B.C. are optimistic that 2010 will be a good year or their best
year yet
- When asked to rate their business’
performance this year, 15% of B.C. small business owners gave
themselves an A or A+, indicating that they have had solid growth
or their best year yet (vs. 19% nationally). Fifty percent gave
themselves a B, indicating that they did as well as they expected
(vs. 44% nationally). Twenty-two percent gave themselves 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, saying they are in serious trouble (same as
national stat)
- Of those small business owners who gave
themselves an A or A+, 41% attributed their good year to the fact
that they were not impacted by the recession (vs. 56%
nationally)
- How were small business owners in B.C.
impacted by the recession? Thirty-nine percent lost some business
(vs. 31% nationally), 13% are in more debt than they were 12 months
ago (vs. 18% nationally), 5% were forced to downsize their
operations or staffing and 7% say they came close to bankruptcy or
closing. Interestingly, 14% grew their business despite the
recession and 3% grew their business because of the
recession
- When asked what changes, if any, their
company made over the past year, small business owners in B.C said
they reduced their operating costs (40%, same as national
stat)
- What keeps small business owners in B.C. up
at night? The top two responses were the impact of the recession
(33% vs. 31% nationally) and cash flow (25% vs. 28%
nationally)
- B.C. small business owners say the best
thing about owning their own business is better work-life balance
(37%), controlling their own destiny (32%) and being the boss, not
reporting to anyone (20%)
|
|