Survey Finds Most Small Business Owners Plan on Hiring Next Quarter

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Using Social Media for Recruiting Have you ever considered using social media channels, such as Facebook, for finding new employees? While many companies use Facebook and Twitter for research, a new trend is showing that they are also using to actually find people to hire.

Tuesday, June 28, 2011 TD Bank released the results from a new poll of 300 small business owners, aimed at gaining perspective on their outlook for the economy, hiring, revenue, etc. These business owners are all from within the Bank's region of coverage, which extends the length of the East Coast, from Maine to Florida. The good news, is that most plan on hiring more and and meet or exceed revenue projections. Here are the key findings: - 51% of American small businesses polled said they're optimistic about the outlook for the economy - 73% said they expect to meet or exceed revenue projections in the upcoming quarter - 88% plan to hire more employees or keep staffing levels the same over the next quarter - about 20% plan to add at least one position - 51% of owners say they're working more hours than they did a year ago - 10% say they're working fewer hours - 62% say they are just as happy or happier than they were a year ago - over 43% said their business performance fell short of projections in the previous quarter - 80% plan to maintain or increase capital investments in the upcoming year "TD Bank's recent survey of small business owners further solidifies what we've been hearing from our customers over the last 12 months," said Fred Graziano, Head of Retail and Small Business Banking at TD Bank. "Although they may be working longer hours, these results indicate that economic conditions are improving and may lead to higher revenues and job creation for small businesses." "Overall, we've seen a 20 percent increase in applications for credit compared to this time last year, and as the economy improves, we hope to see that number increase, leading to healthier businesses and ultimately new jobs," he added. The survey was conducted in April, and consisted of companies with annual sales of no greater than $5 million. » Comment on this article About the Author: Chris is a content coordinator and staff writer for SmallBusinessNewz and the iEntry Network. Subscribe to SmallBusinessNewz RSS Feeds.

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