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N.L.’s small and medium sized businesses top country in optimism


A recent study on investment intentions by the Business Development Bank of Canada has found entrepreneurs in Newfoundland and Labrador lead the country in optimism about business sales.

Business

The study forecasts small and medium-sized business investments in every region of the country for the year ahead.

It found 83 per cent of businesses in that category in this province expect to increase their sales in 2017, up from 32 per cent in 2016.

Small and medium sized businesses employ 90 per cent of the private-sector labour force and contribute 40 per cent of Canada’s gross domestic product.

The study also found there is renewed optimism by entrepreneurs across Canada.

Other highlights include:

- 85 per cent of small and mid-size businesses in Newfoundland and Labrador plan to invest in 2017, which is above the Canadian average of 82 per cent.

 -The main obstacle for Newfoundland and Labrador investment is cited as cash flow at 36 per cent.

- Canadian small and mid-sized businesses intend to invest $96.6 billion in 2017, 1.6 per cent more than they will have invested by the end of 2016.

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