TD Bank conducted an online survey among small business owners whose annual revenue/sales is $1,000,000 or less. This April 2017 survey focuses on understanding business owner expectations, confidence, challenges and use of specific products. 

Considerations for expansion included adding new products or services is the top path for expanding the business or boosting revenue. The local/regional economy is the top challenge small business owners say they face in the next 12 months. Rising interest rates makes up 21 percent of the survey's findings for the national calculations. Nearly one-half cite having a business credit card. Nationally, low interest rates and cashback are the top reasons for applying. In NYC, Small Business Owners are drawn to rewards that include travel and low or no foreign exchange fees. Nationally, 1-in-5 Small Business Owners have credit needs. New York Small Business Owners are more likely have credit needs but are also more likely to have been turned down. 

The survey also includes data on the sources of additional financing needs for small businesses.