Private companies are finding balance amid uncertainty

Adapting to current market conditions critical to success

TORONTO, May 19, 2016 /CNW/ - Since the beginning of the year, the Canadian dollar has hit a 12-year low and subsequently rebounded, the price of oil has been unpredictable at best, and commodity prices have yet to rebound across the board. But according to EY, private businesses are finding balance amid this uncertainty, and many are using the current market conditions as a catalyst for success. 

"Uncertainty provides opportunity," says David Fabian, National Co-Leader of EY's Private Mid-Market practice. "It's time to step back, look at costs, focus on operational excellence, explore new markets, innovate and consider transaction opportunities. We've encountered tough times before, but this is when the agility of being a private business can offer a distinct advantage."

And the timing might just be right to explore those options. According to EY's latest Canadian Capital Confidence Barometer, 98% of Canadian executives surveyed see the economy as stable or growing, compared to just 70% one year ago.

"There is accessible venture capital for good ideas," says David Steinberg, National Co-Leader of EY's Private Mid-Market practice. "Private business owners in particular are looking introspectively at their businesses. We're seeing consolidation in every sector."

EY says private businesses have a wide range of prospective rapid-growth opportunities – businesses that can leverage good metrics, take the longer view and carve out products or services from competitors.

"It's a prime time for innovators, risk-takers and governments to come together with investments in new technologies, equipment and markets regardless of the sector," says Fabian. "Private businesses are – in many ways – the lifeblood of economic growth. They provide a source of income and employment for themselves, create employment for others, produce new and innovative products or services, and drive greater upstream and downstream value chain activities."

Case in point, EY will be announcing its EY Entrepreneur Of The Year 2016 finalists in July. Over more than 20 years, many finalists and winners have been private businesses that have dared to pursue the uphill climb and not just kept the pace, but accelerated. They've sped up innovation, growth and social improvement. And they've build lasting legacies that inspire the next generation.

Steinberg and Fabian agree: "We're at the front end of a technology and research-based new wave in life sciences, biotech, niche manufacturing, energy and more. It all starts by looking beyond current economic uncertainty to explore the potential that lies ahead."

To learn more about how EY works with private companies, visit

About EY's Private Mid-Market practice
In order to achieve growth, privately owned organizations require a unique approach and set of services. EY's Private Mid-Market (PMM) practice is focused on working exclusively with privately held businesses. We offer the best of both worlds – hands-on personalized service, with the added reach and bench strength of a global firm, helping private companies address the challenges and opportunities they face in each stage of their business cycle.

About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

For more information, please visit Follow us on Twitter @EYCanada

EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit

SOURCE EY (Ernst & Young)

For further information: Sasha Anopina,, 416 943 2637; Julie Fournier,, 514 874 4308; Leigh Kjekstad,, 604 648 3807


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