Although 35 percent of small-business owners say they are somewhat or significantly understaffed, 70 percent have no intentions of hiring in the near future, according to a new survey by TD Bank.

"Our survey results indicated that over half (51 percent) of polled small-business owners are not optimistic about the U.S. economy," says Fred Graziano, head of regional commercial banking, government banking and small business at TD Bank. "According to our partners at TD Economics, uncertainty about the future path of fiscal policy and the outlook for the global economy will keep businesses cautious about investing and hiring in the upcoming months. However, for businesses that are looking to grow for the long term, it's a great time to take advantage of the low interest rate environment."

Among the biggest human resources challenges for respondents are finding qualified candidates at 42 percent, training current employees at 23 percent, offering competitive compensation at 22 percent, laying off inadequate employees at 8 percent and sustained employee turnover at 5 percent.