Optimism high for Queens small businesses but hiring still slow: report

Small businesses in Queens are positive that 2015 will be a strong year, according to the second annual TD Bank Small Business Pulse Check.

About two-thirds of Queens businesses are optimistic or excited about the year, and 27 percent believe 2015 will be the best year ever for their company, the report found.

The firm surveyed nearly 500 business owners in the city with $5 million in revenue or less. About 100 of those companies are from Queens.

Despite the positive outlooks, more than half of Queens businesses surveyed don’t expect to hire new employees this year and just 29 percent hope to hire more workers, according to the questionnaire.

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“Businesses in Queens and across the city are optimistic because not only did 75 percent of businesses in Queens (and 77 percent citywide) meet or exceed their revenue goals in 2014, but 63 percent of businesses in Queens anticipate being able to increase their revenues during 2015,” said Chris Giamo, TD Bank Regional President, Metro New York. “This trend toward growth naturally leads to a better outlook on business, but we are seeing that many business owners are still approaching expansion in a careful and well-planned way, meaning they aren’t ready to take major risks.”

But many businesses in the borough are thinking technology-forward. The survey found that nearly half of the companies, 46 percent, are already using smart pay technology services, such as Apple Pay, Square or other forms of mobile payment, which are gaining popularity.