The HSBC Global Small Business Confidence Monitor might offer good news to small business owners
Canadian small businesses represent 98 percent of the country's business and form an integral part of the national economy. The positive results of the latest Global SME Confidence Monitor could offer hope for the economic state of the country.
According to the report, 59 percent of Canadian SMEs expect local GDP growth to continue at a steady pace over the next six months. Moreover, 29 percent expect the pace of GDP growth to increase over this time period.
It may also be encouraging news that 22 percent of Canadian respondents said they plan to increase their staff over the next six months. The SMEs who plan to decrease staff is down to a meager four percent.
Additionally, 71 percent of Canadian SMEs who do business internationally say they are finding a boost in sales and revenue opportunities in the global market.
Miguel Barrieras, senior vice president of HSBC Bank Canada, said "the Canadian results reflect the optimism that our small- and medium-sized business clients share with us every day, and our global network is there to help turn some of the traditional barriers into paths of opportunity."
Experts at the Canadian Federation of Independent Business advise SME owners to look for ways to expand their products and services to a global market.
