While Canada's fiscal situation remains stronger than much of Europe and North America, sentiment among the country's small businesses mirrors that of firms in the U.S., UK, Spain, France and Germany, according to a study released this week by the Sage Group.
According to the Sage Business Index, fifty percent of Canadian small business owners believe economic conditions have and will continue to improve in 2011, compared to 20 percent who believe it is the same and a mere 15 percent who argue it is worsening.
In comparison, 41 percent of small firms throughout the surveyed nations believe conditions are improving for them.
"Our survey represents the international voice of small businesses, who are a major source of innovation and skills, contributing significantly to economic productivity worldwide," said Guy Berruyer, CEO of The Sage Group. "They are clearly stating that they have the appetite and drive to succeed, but whilst confidence appears to be slowly returning bureaucracy and legislation are holding them back."
Additionally, 40 percent of small business owners in Canada cited "good business culture and entrepreneurial spirit" as the most favorable reason to conduct business in their country - a belief that was shared by companies in each of the participating countries.
