A new survey finds growing confidence among Canadian businesses for the next three months, but also concerns about rising costs. (Wolf Depner/News Staff)

A new survey finds growing confidence among Canadian businesses for the next three months, but also concerns about rising costs. (Wolf Depner/News Staff)

New survey finds rising confidence among Canadian businesses

But concerns remain, including fears of higher costs

A new survey suggests growing confidence about the future among Canadian entrepreneurs.

The Canadian Survey on Business Conditions for the second quarter of 2021 finds one-third of businesses expect their profitability to decrease during the next three months as the COVID-19 pandemic continues to unfold. This figure marks an improvement from the first quarter, when the same survey found that 41.8 per cent of all businesses expected their profitability to decrease.

The second-quarter survey also shows that one-quarter of all businesses expect their sales to decrease. In the first quarter, that figure stood at 30.6 per cent.

RELATED: Return to offices up next in B.C.’s COVID-19 restart plan

The second-quarter survey also finds some good news for employees of Canadian entrepreneurs. During the first quarter, just under 71 per cent of businesses expected their number of employees to remain the same over the next three months. During the second quarter, that figure rose to 77.6 per cent.

This said, businesses in accommodation and food services are decidedly less optimistic, and all businesses are increasingly concerned about the rising costs of inputs, including labour, capital, energy and raw materials. In the first quarter of 2021, just over 25 per cent of businesses expressed concern over rising costs. In the second quarter, that figure rose to 37.8 per cent.

The COVID-19 pandemic also continues to accelerate the digital transformation of business. Just over 20 per cent of all businesses were likely to invest in online sales or e-commerce capabilities over the next 12 months.


Do you have a story tip? Email: vnc.editorial@blackpress.ca.

Follow us on Twitter and Instagram, and like us on Facebook.

wolfgang.depner@peninsulanewsreview.com

economyEmploymentEntrepreneurs

Just Posted

Steve Mann and Tim Hackett consider Marigold Lands their finest development. (Rendering courtesy Marigold Lands)
Marigold residences grow more townhouses and condos in Central Saanich

50 condos, 14 townhouses up next for project adjacent to Pat Bay Highway

Norman Mogensen sets up strings for his beans in his plot in the Oak Bay community gardens. (Christine van Reeuwyk/News Staff)
Oak Bay gardener spends decades cultivating, improving daddy’s beans

85-year-old vegan part of the community gardens scene

Diana Durrand and Arlene Nesbitt celebrate the new artist space in 2014. Gage Gallery moves this summer from Oak Bay to Bastion Square in Victoria. (Black Press Media file photo)
Gage Gallery moving to Bastion Square

Vivid Connections, a showcase by Laura Feeleus and Elizabeth Carefoot, opens new venue June 29

Theatre SKAM is offering mobile, pop-up performances to Greater Victoria residents once again this summer. They’ll feature emerging artists Yasmin D’Oshun, Courtney Crawford, Kaelan Bain and Kendra Bidwell (left to right). (Courtesy of Theatre SKAM)
Theatre performances can be ordered to Greater Victoria front yards this summer

Theatre SKAM offering mobile, pop-up performances once again

Days after students’ return to Victoria High School was delayed by a year, the province has announced some amenities that will be included in the school’s expansion project. (Photo by Cole Descoteau)
Child-care spots, artificial turf field, non-profit space included in Vic High expansion

SD61 now aims to welcome students back at the high school by September 2023

Marco Mendicino, Minister of Immigration, Refugees and Citizenship during a press conference in Ottawa on Thursday, May 13, 2021. THE CANADIAN PRESS/Sean Kilpatrick
Canada to welcome 45,000 refugees this year, says immigration minister

Canada plans to increase persons admitted from 23,500 to 45,000 and expedite permanent residency applications

Emily Steele holds up a collage of her son, 16-year-old Elijah-Iain Beauregard who was stabbed and killed in June 2019, outside of Kelowna Law Courts on June 18. (Aaron Hemens/Capital News)
Kelowna woman who fatally stabbed teen facing up to 1.5 years of jail time

Her jail sentence would be followed by an additional one to 1.5 years of supervision

Cpl. Scott MacLeod and Police Service Dog Jago. Jago was killed in the line of duty on Thursday, June 17. (RCMP)
Abbotsford police, RCMP grieve 4-year-old service dog killed in line of duty

Jago killed by armed suspect during ‘high-risk’ incident in Alberta

The George Road wildfire near Lytton, B.C., has grown to 250 hectares. (BC Wildfire Service)
B.C. drone sighting halts helicopters fighting 250 hectares of wildfire

‘If a drone collides with firefighting aircraft the consequences could be deadly,’ says BC Wildfire Service

A dose of the Pfizer-BioNTech COVID-19 vaccine is pictured at a vaccination site in Vancouver Thursday, March 11, 2021. THE CANADIAN PRESS/Jonathan Hayward
NACI advice to mix vaccines gets varied reaction from AstraZeneca double-dosers

NACI recommends an mRNA vaccine for all Canadians receiving a second dose of a COVID-19 vaccine

A aerial view shows the debris going into Quesnel Lake caused by a tailings pond breach near the town of Likely, B.C., Tuesday, Aug. 5, 2014. THE CANADIAN PRESS/Jonathan Hayward
Updated tailings code after Mount Polley an improvement: B.C. mines auditor

British Columbia’s chief auditor of mines has found changes to the province’s requirements for tailings storage facilities

A North Vancouver man was arrested Friday and three police officers were injured after a 10-person broke out at English Bay on June 19, 2021. (Youtube/Screen grab)
Man arrested, 3 police injured during 10-person brawl at Vancouver beach

The arrest was captured on video by bystanders, many of whom heckled the officers as they struggled with the handcuffed man

Patrick O’Brien, a 75-year-old fisherman, went missing near Port Angeles Thursday evening. (Courtesy of U.S. Coast Guard)
Search for lost fisherman near Victoria suspended, U.S. Coast Guard says

The 75-year-old man was reported missing Thursday evening

Most Read