Posted on January 19, 2021 at 3:12 a.m.
Despite the fact that much of Canada still experiences restrictions related to the second wave of COVID-19, many entrepreneurs have hope for the future.
According to a Business Development Bank of Canada (BDC) survey, many entrepreneurs have confidence in the economy, business and hiring prospects, and investment plans over the next 12 months.
Additionally, based on the findings, a growing number of business owners plan to invest more in 2021 than they did in 2020.
According to the results, this increase in investment intentions is largely due to an increase in business confidence, as well as an improvement in sales prospects.
Further, the results indicate that there are almost as many optimistic entrepreneurs — 35 percent — as there are pessimistic entrepreneurs — 36 percent.
“It has been a difficult year, and although these are the most positive results we have seen since the onset of the health crisis, we believe that corporate spending will remain low in the coming months”, Pierre Cléroux, vice-president president of research and chief economist. for BDC, said in a statement.
“Our survey paints a picture of an economy that will experience a slow but sustained recovery. We are happy to move to 2021, ”he continued.
Additionally, of those who plan to invest, more than half (53%) intend to invest in intangible assets, such as software, marketing or employee training.
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