Canadian Businesses Remain Optimistic About Economic Recovery

04 April 2012 10:00am - Florence Fullalove

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Canadian Businesses Remain Optimistic About Economic Recovery

A leading provider of business management software and services, Sage, have released their annual Sage Business Index Survey. Sage provides services to more than 6 million small and medium sized businesses across the world including 500,000 in Canada. They surveyed 2,278 Canadian business owners as part of a worldwide survey. Other countries that took part in the survey included the UK, Spain, South Africa, Malaysia, Germany France, Austria and the United States.

The results of the survey suggests that Canadian businesses have increased optimism about their prospects for the next six months with an index score of 63.65. Compare this to the 59.35 seen in 2011 and this is a significant improvement. The index is based on a scale where anything below 50 is negative and 50 to 100 is positive. Businesses in Canada are also feeling more confident about domestic economic prospective than businesses in Europe, the US and the UK feel about their own. Canadian businesses do however remain pessimistic about the global economy with an index score of 45.53. This feeling was worldwide as businesses in Germany, the US, UK and others in Europe showed greater pessimism for the global economy.

Some key figures from the survey include:

- 70% of those surveyed reported revenue either staying the same or increasing in the last six months and only 19% saw decreasing revenue.

- 51% said that the biggest concern for their business over the next six months was rise in inflation and the increasing cost of energy.

- 33% said that instability and uncertainty in the local economic market was their biggest concern.

- 25% said instability and uncertainty in the global economic markets, reduced cash flow in the supply chain and increasing government regulations were cause for concern.

- 47% said that customer service had become more important in their operations over the last year and 38% are committing more budget or resources towards delivering customer service.

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Related Links:
• Economic Calendar
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