Business owners have struggled over the past few years.
So, though the government has urged companies to bolster spending and support the economy, a summer BoC survey shows they’re cautious because:
- many execs predict sales growth will fall over the next 12 months;
- they don’t plan to boost hiring to meet additional operational needs; and
- U.S. growth has been positive, but execs say it will slow over the next year.
If you have entrepreneur clients, make sure to discuss these concerns with them. To calm their fears, highlight that small business confidence has been climbing over the past few months in Canada.
Read: Canadian biz owners optimistic and Small biz confidence climbs in August
Even better, remind them Canada was recently named as one of best places in the world for entrepreneurs to operate. An EY study found the country offers a supportive tax and regulatory environment, among other factors.
For more business news and tips, read:
Women drawn to challenge of owning a business: BMO
Half of students want to start a business
What’s up in the boutique sector?