The Canadian Federation of Independent Business report suggests optimism may bring about small business growth in the coming months
Canada's small- and medium-sized businesses are expected to be the nation's main sources of job creation in the years to come, according to a recent report.
The Canadian Federation of Independent Business report showed that small- and medium-sized business confidence is growing. While the majority of business owners do not foresee immediate increases to staff levels, 14 percent plan to increase their head count in the coming months.
Bank of Nova Scotia chief economist Warren Jestin advises SME owners to looks for ways to plug Canadian business products and services into global supply chains in order to maximize the chances that they will be able to add new hires to their companies.
He told the Globe and Mail, "highly entrepreneurial small- and medium-sized businesses in rapid-growth areas will likely be a key source of Canadian job creation over the next decade."'
The CFIB report comes just in time to potentially impact the upcoming federal budget meeting on March 4. Catherine Swift, CFIB president, told the source she hopes policies will assist small business growth as this could help spur job creation and overall economic stability.
Swift is not alone. The Financial Post recently reported that small business will be more likely than their larger counterparts to expand their businesses during these trying times and help economic turnaround.
