2009 was a surprisingly good year for Canada’s small businesses, according to a recent survey from TD Canada Trust.

Despite concerns about the impact of the recession and managing cash flow, the 2009 Canadian Small Business Report Card reveals that an astounding 98% of small business owners gave their companies a passing grade.

“As we saw in the October 16 TD Economics Special Report on Small Business, Canada’s economic recovery is well underway and it is anticipated that this will have a positive impact on small businesses, particularly in key sectors such as manufacturing,” says Christine Morris, vice president, TD Business Banking.

“In addition to the good grades given out, there is a high level of optimism among small business owners for 2010, suggesting that business optimism is likely to continue to improve.”

Only 2% of small business owners gave their companies a failing grade and this number was relatively consistent across the country, climbing to 4% in Ontario and dropping to 1% in Quebec.

“With the improving economy and strong Canadian dollar forecasted for 2010, it will be interesting to see how these rankings improve a year from now,” says Morris.

“We anticipate that the small businesses that lead next year’s rankings will be the ones that carefully manage cash flow, take advantage of resources from small business advisors and develop a strong unique selling proposition (USP) that guides their business.”

IE