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Twenty percent of firms plan to hire over next quarter

Posted on June 27th, 2011 Read time: 1 minutes

Reports may have the small business outlook up one month and down the next, but a recent survey seems to echo the belief that the economy is improving, albeit slowly.

According to research from TD Bank, 51 percent of American small business owners said they are optimistic about the future of the economy, with 73 percent planning to meet or exceed revenue projections for the next quarter.

With an improved outlook comes better hiring projections. A whopping 88 percent plan to hire new workers – such as temporary workers – or keep staffing levels consistent through the next quarter, the study revealed. Nearly 20 percent plan to add at least one position during the same period.

"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," said Fred Graziano, head of retail and small business banking at TD Bank.

A separate study from U.S. Bank noted similar findings. It found 22 percent of small businesses plan to hire over the next 12 months.

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