Small Businesses Make Holiday Wish and New Year's Resolution for Increased Sales in 2012: TD Bank Survey

Published on Tuesday, 20 December 2011 09:17 Written by TradersHuddle Staff

CHERRY HILL, N.J. and PORTLAND, Maine, Dec. 20, 2011 /PRNewswire/ -- If small business owners could receive one gift this holiday season, a majority say it would be more sales for their business. Dedicating more time to sales and marketing efforts is also the top New Year's resolution for the small businesses polled in a new survey from TD Bank (NYSE: TD), America's Most Convenient Bank®.

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TD Bank's survey – which polled 300 small business owners within the bank's Maine to Florida footprint – asked for their top items on this year's holiday wish list. Sixty-one percent of small business owners said that increased sales would be the highest item on their list.

Other holiday wishes from surveyed small business owners included eliminating debt (13%), raises or bonuses for current employees (11%), new equipment or software (6%), more employees (5%), and a new or larger facility (4%). Only one percent said a raise or bonus for themselves would top their holiday wish list.

"With economic pressures likely to continue in 2012, it will be more important than ever for small businesses to find creative ways to grow sales and keep a close eye on cash flow," said Fred Graziano, Head of Regional Commercial Banking, Government Banking and Small Business. "Our teams of small business bankers are focused on freeing our customers from the hassles of managing their money, so they can spend more time on those crucial sales efforts."

Along with top holiday wishes, TD Bank's survey also asked small business owners to identify their top New Year's resolution for 2012. Twenty-six percent said spending more time on sales and marketing would be their top resolution – slightly more than eliminating company debt (22%). The remaining resolutions included improving cash flow (16%), developing a better business plan (13%), maintaining or increasing staffing levels (9 percent), working shorter hours (8%), and relying more on employees to handle daily operations (6%).

"TD Bank is committed to becoming an important partner for local entrepreneurs by offering services beyond our hassle-free banking products," said Graziano. "Our free, online Small Business Workshop series (http://www.tdbank.com/small_business/workshops.html) are a great resource for small business owners looking to improve certain facets of running their business. Users have the ability to view a wide-array of informative tutorials on topics such as developing a sound business plan, creating a competitive advantage, and marketing a business to the right audience."

TD Bank is also utilizing social media to connect and converse with small business owners by launching live weekly Twitterviews (Q&A). Each Friday, Small Business Banking experts will be available for live #smallbizfridays on Twitter @TDBank_US (www.twitter.com/TDBank_US) to answer questions and share tips and advice.

About TD Bank's Survey

TD Bank polled 300 small business owners in its Maine to Florida footprint to understand their companies' top holiday wishes and New Year's resolutions. The research was conducted in October and November 2011 by ORC International, and surveyed companies with annual sales of no more than $5 million.

About TD Bank, America's Most Convenient Bank®

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 7.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,280 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized wealth management services through TD Wealth, and insurance products and services through TD Insurance, Inc. TD Bank is headquartered in Cherry Hill, N.J., and Portland, Maine. To learn more, find TD Bank on Facebook at www.facebook.com/TDMoneyLoungeUS, on Twitter at www.twitter.com/TDBank_US, or visit www.tdbank.com.

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America and one of the few banks in the world rated Aaa by Moody's. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD." To learn more, visit www.td.com.

SOURCE TD Bank