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A vote of confidence for Canadian businesses

A vote of confidence for Canadian businesses 

 The company has announced that its business index discovered that Canadian business confidence is at a four-year high. The areas covered with the survey shows an increase of 50 points in prospects, national economies and global economy.

“It’s encouraging that Canadian businesses have a bright outlook about their future growth” said Nancy Harris, SVP and GM of Sage Canada, in a press release. “They’re the main drivers of the economy, and their ability to thrive and succeed is what will make Canada a better place to do business.”

Canadian businesses are also very optimistic about their own prospects. The country’s confidence has increased 0.68 per cent to 67.48 per cent in the last year, 3.34 points above the global average of 64.14 per cent.

But despite that, Canadians’ overall confidence has fallen 3.39 points to 56.04 last year, due to mixed feelings about the global economy.

Fifty-four percent of Canadian business people anticipate revenue growth by an average of 2.5 per cent in the next year and 37 per cent anticipate a staff count hike in their company in the same period which is 1.6 people on average.

Local entrepreneurs say that doing business in Canada is getting riskier. Fifty-three per cent of Canadian decision-makers see themselves as risk seekers, which is just above the international average of 49 per cent. This figure also represents an increase of year’s total of 52 per cent.

The study also showed that Canadian businesses are less likely to operate outside the country. Sixty-two per cent say they do not have any foreign dealings, while just 15 per cent say they do business overseas.

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