Florida small business owners have optimistic outlook for 2021

A survey shows they're adding more employees and expecting more growth in revenue over businesses nationwide.


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  • | 12:20 a.m. July 15, 2021
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Florida business owners expect to see more growth in 2021 over businesses nationwide, according to the 2021 Small Business Survey recently released by TD Bank.  

The survey shows that 41% of small business owners in the U.S. expect revenue to grow in 2021, while only 9% anticipate a decline. The survey polled more than 750 small businesses nationwide with less than $5 million in annual revenue. It showed 57% plan to expand hours and/or operations, and 9% are set to add a business location in the next 12 months.  

Notably, two of Florida’s takeaways from the survey showed even more optimism, including these nuggets: 

  • More than half, 51%, of Florida small business owners say their annual revenue will grow in 2021. 
  • Nearly one-fourth, 24% of Florida small business owners, expect their payroll to grow compared to 16% nationally.

​"COVID-19 required small businesses to adapt to new business operations and incorporate new revenue-generating strategies nearly overnight," Jay DesMarteau, head of Commercial Distribution of TD Bank, says in a release. "Entrepreneurs are incredibly resilient, though, and it is encouraging that they report a more positive outlook and do not anticipate losing their livelihood." 


 

 

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