Canadian small business owners and entrepreneurs are a tough bunch with thick skins allowing them to be optimistic where other, more timid individuals may not see the silver lining in the dark clouds.
That finding has emerged from a survey conducted for CIBC, sampling opinions of those who hold the reins of smaller enterprises in the nation. They found this group is upbeat about the future with seven-in-ten saying they are doing great or okay in business. And eight-in-ten said they liked their prospects with a buoyant view of their mid to long term futures even in the face of today’s economic landscape.
Three-quarters of the respondents said they are determined to grow or expand their operations in coming years. The bulk of them are focused on a growth strategy that could include developing new markets and products, partnering up with others or capitalizing on Buy Local sentiments.
Cutting costs was the second most commonly quoted option.
When pressed for areas of concern …managing supplier and vendor relationships topped the list as supply chains garner more attention.
