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Statistics Canada Business Survey Shows Uncertainty

Monday, 30 May 2022 14:23

Business owners expecting more obstacles

A new survey by Stats Canada has found that businesses still expect to face a variety of obstacles as they continue to try and recover to pre-pandemic levels.
 
Most of the problems related to rising costs, hiring and recruitment issues as well as supply chain problems. 

The survey conducted from April to early this month showed 49.7 per cent of respondents expect the rising cost of labour, capital, energy and raw materials to be their biggest obstacle over the next three months, relatively unchanged from the last survey.

It also found that many businesses expect challenges in maintaining or acquiring products and supplies to worsen in the short term.

Half of businesses surveyed expect their profitability to remain relatively unchanged, and 39 per cent expect to increase their prices,  up from 25.9 per cent in the fourth quarter of last year. 

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