Calgary small business owners in high spirits despite working the longest hours

- TD Canada Trust Small Business Survey finds Calgarian small business owners work the longest hours -

CALGARY, July 5, 2011 /CNW/ - Despite their struggle to maintain a healthy work-life balance while working more than 50 hours a week, six-in-ten Calgarian small business owners describe themselves as 'very happy'.

According to the 2011 TD Canada Trust Small Business Survey - which examined the attitudes and behaviours of small business owners in Montreal, Toronto, Vancouver and Calgary - Calgarian small business owners are working longer hours than other small business owners in every other major Canadian city (52.1 hours per week versus 48.7 hours nationally). But being their own boss, controlling their own destiny, and making more money seems to sweeten the deal for the majority of Calgarian small business owners.

"Many people dream of being their own boss and owning their own business one day, so it's no surprise that so many small business owners are happy where they are right now," says Donna Potter, Area Manager, Small Business Banking, TD Canada Trust. "In 2011 we saw an increase in the happiness levels of small business owners compared with the previous year. When owners are optimistic, they tend to be more likely to invest in their business by boosting spending and hiring, which is great for their local communities."

What's the key to happiness?

Calgarian small business owners were among the most likely in the country to love being their own boss (97% versus 94%) and in control of their own destiny (98% versus 94% nationally). Owning their own business gives them a sense of personal achievement (98%) and provides them with the opportunity to make more money (89%) and help customers/clients (96%).

"It's clear there are a number of advantages to running your own company," says Potter. "So whether you're launching a new venture or expanding an existing one, the key ingredients to running a successful small business are planning, knowing your market, loving what you do, and surrounding yourself with experts to help you when the going gets tough. Your bank will have the resources to help: TD, for example, has small business experts on hand to provide you with advice on how to start or grow your own successful small business."

The strong Loonie is impacting small business

The strong dollar may be good news for those fond of shopping south of the border, but some Calgarian small businesses are singing a different tune as the rising Loonie weakens their exports. According to the survey, one quarter of Calgary small businesses that export internationally say the strong dollar is affecting their profits. But they were the least likely in the country to say the strong dollar was affecting their financial forecasting (14% versus 30% nationally) and international sales (14% versus 22% nationally).

"The strong Canadian dollar is certainly having an effect on the bottom lines of many small businesses who export their products and services internationally," says Potter. "Small business owners should talk to their bank for strategies on how to manage the strong Loonie in their day-to-day operations and finances. For example, the strong dollar may provide small businesses with better buying power in countries like the US, so now might be a good time for some businesses to purchase new equipment and supplies from outside Canada."

Small business owners still work long hours

Calgary's small business owners are working even longer hours in 2011 than in 2010 (52.1 hours per week versus 50.3 hours per week). It is no surprise that they were least likely in the country to say they enjoyed a good work/life balance (67% versus 76% nationally) and the vast majority can never truly stop thinking about their business (87%).

TD Canada Trust has small business advisors in branches across Canada who can advise customers on starting, launching and growing their business.

ABOUT THE 2011 TD SMALL BUSINESS SURVEY

2011 TD Small Business Survey examined the attitudes and behaviours of 402 small business owners in Toronto, Montreal, Vancouver and Calgary. One hundred small business owners in Calgary were surveyed. Small businesses were defined as those companies having 5 to 50 employees. The research was conducted by Environics Research between April 19 and May 9, 2011.

ABOUT TD CANADA TRUST

TD Canada Trust offers personal and business banking to more than 11.5 million customers. We provide a wide range of products and services from chequing and savings accounts, to credit cards, mortgages and business banking, to credit protection and travel medical insurance, as well as advice on managing everyday finances. TD Canada Trust makes banking comfortable with award-winning service and convenience through 24/7 mobile, internet, telephone and ATM banking, as well as in over 1,100 branches - most open 8 'til late and many now open Sunday. For more information, please visit: www.tdcanadatrust.com. TD Canada Trust is the Canadian retail bank of TD Bank Group, the sixth largest bank in North America.