Optimism about next 12 months is 46% higher than in Q4 2008
Canadian small business growth seems to be on its way as optimism about the economic recovery is holding stable among executive chartered accountants, according to a study released Wednesday.
The latest Business Monitor from the Canadian Institute of Chartered Accountants and RBC found that optimism in the fourth quarter of 2009 remained at the high levels seen in the previous two quarters.
Specifically, 48 percent of respondents were optimistic about the economy over the next 12 months - a 2 percent increase from the second quarter. This is also dramatically higher than optimism levels seen in the fourth quarter of 2008, when just 2 percent of CAs were optimistic.
"Canadian businesses have shown strength despite the challenging economic climate, with 23 percent of respondents stating that their company's profits did not decline during the recession," said Shauneen Bruder, executive vice president of business and commercial banking for RBC. "Canadian companies that keep an eye on the future while setting realistic and achievable goals in the present, can quickly react to both challenges and new opportunities for growth."
Canadian small business owners should also be encouraged to know that this survey may represent a larger trend - the latest Nielsen Global Consumer Confidence Index showed a surge in consumer confidence as well.
