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TD Bank Florida Small Business Survey: Northeast Florida Survey Results

Results of the recent TD Bank Florida Small Business survey—where 300 small business owners from Southeast, Central and Northeast Florida were asked to rate their current and anticipated financial health, their thoughts on the overall economy and their commercial real estate plans—are in. Of the 300 small businesses polled, 100 were in Northeast Florida. Companies with annual sales of no more than $5 million were surveyed.

Overall, the results of the total Florida survey were encouraging, with 69% of small businesses saying that they expect to meet or exceed revenue projections in the upcoming quarter and 67% of respondents reporting that they expect to keep staffing levels the same in the upcoming quarter.

The survey also revealed that nearly 82% expect to maintain or increase capital investments over the next quarter, and when asked to describe their happiness as a small business owner, 64% are just as happy or happier today than they were a year ago. When asked about their commercial real estate plans over the next year, 83% said they are somewhat or very unlikely to move.

Below are the Northeast Florida-only results (100 polled small business owners) of the survey:

•When asked to rate their optimism about the U.S. economy…43% are neutral or optimistic

•When asked to grade their business’ performance during the most recent quarter…39% performed as expected or significantly exceeded revenue projections

•When asked to project their business’ performance in the next quarter…63% will perform as expected or significantly exceed revenue projections

•When asked about next quarter’s staffing plans…93% expect to keep levels the same or hire up to two or more new positions

•When asked about company’s capital investments in the next quarter…77% expect capital investments to stay the same or increase as much as 15%

•When asked to describe their overall happiness as a small business owner today compared to a year ago…50% are just as happy or happier today

•When asked how likely they are to move to a new commercial real estate space in the next 12 months…86% say they are somewhat or very unlikely to move

•When asked what would be the most important reason for moving to a new commercial space, respondents said the following would be the most important reason…a more affordable lease (26%), a more desirable business location (20%), a move to a larger commercial space (24%), opportunity to buy a commercial space (7%), being closer to home (9%) and a move into a smaller space (14%)

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