Late Nights Ahead.
55% will expand business hours
22% will cut business hours
13% will expand locations
5% will close
2% will sell
46% of Philadelphia small businesses anticipate their business will grow in size in 2021.
More than half of Philadelphia small businesses reported that they will expand hours and operations, while plans to sell or close are slim to none.
38% will be expanding their product lines and services.
29% will be better managing their cash flow.
11% will be negoitating vendor contracts to save money.
9% will be moving to a new office/retail location.
All data sourced from TD Bank's 2021 small business survey
Business growth is on the horizon.
13% will be adding online/mobile sales.
9% will be adding contactless payment options.
8% will be permanetely moving operations to online only.
13% will be bringing on a partner.
10% will be adding a loyalty/rewards program.
Almost 50% of Philadelphia small busineses reported that they anticipate their business growing in 2021.
How are small businesses increasing revenue in 2021?
46% of Philadelphia small businesses anticipate their business will grow in size in 2021
39% of Philadelphia small businesses anticipate their business growth will stay the same in 2021
9% of Philadelphia small businesses anticipate their business will downsize in 2021
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