BMO Small Business Confidence Report: Despite Waning Optimism, Majority of Canadian Small Business Owners Predict Growth in 2015
- More than half of Canadian business owners expect to see an increase in their profits this year - Nearly one-third plan to invest more into their business in 2015 - Lower confidence levels driven by uncertainty in Alberta over falling oil prices
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/29/15 -- According to the semi-annual BMO Small Business Confidence Report released today, almost half of businesses (48 per cent) feel their business will grow this year, however, Canadian business owners' confidence in the economy and their business prospects has fallen nine points from the fall of 2014.
The BMO Small Business Confidence Report produces an index score that measures the level of confidence small business owners have in the economy and their business prospects based on a series of key indicators, including their predictions for performance, economic outlook, growth expectations and plans for investment. As a single-figure snapshot of small business confidence, the current index score registers at 59 out of 100 - down from this past fall (68 out of 100).
The report, conducted by Pollara, also found that:
"Given the recent economic uncertainty, it is no surprise that Canadian business owners are cautiously optimistic about the year ahead," said Steve Murphy, Head, Canadian Commercial Banking, BMO Bank of Montreal. "The bright side is Canadian business owners plan to move forward in growing their businesses, with the majority expecting their revenues to increase this year."
Mr. Murphy noted that business owners looking to expand their operations in the year ahead should consider taking advantage of historically low interest rates to finance their growth plans.
2015 BMO Small Business Confidence Index Scores:
Business Owners Cautious About the Year Ahead: Over half of business owners expect 2015 to be better for business, but are slightly less optimistic in the year ahead; down eight points from the fall of 2014, driven by significantly lower outlooks from Albertan business owners.
View on the Economy: One-third of Canadian business owners believe the economy will be better for the remainder of the year; down from 51 per cent in the fall, due to lower optimism levels from the heavily oil-dependent regions of the country (Alberta, Prairies, Atlantic provinces).
Growth Prospects: Business owners are still five times more likely to expect their businesses to grow rather than shrink, down only three points from the fall.
Investing in 2015: The one area where business owners are feeling more optimistic than in 2014 is investing in their businesses - up four points from the fall.
Mr. Murphy noted that Canadian business can take advantage of the BMO® Biz Starter for Small Business. With the tools and expertise to simplify your finances, BMO can be a big part of growing your business. Find out more at .
Results cited above come from a Pollara telephone survey with 502 Canadian Business owners/mangers, conducted between February 20th and March 5th 2015. The margin of error for this survey is +/- 4.4 per cent, 19 times out of 20.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services organization based in North America. The bank offers a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers. BMO Financial Group had total assets of approximately $672 billion as of January 31, 2015, and more than 46,000 employees.
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Datum: 29.04.2015 - 10:00 Uhr
Sprache: Deutsch
News-ID 389310
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