Businesses also envision increased revenue, planning for productivity
improvements says SBRB report prepared in conjunction with Integrated
TORONTO, June 5 /CNW/ - Owners and managers of small businesses in Canada
are expecting business conditions to remain the same or improve during the
next 12 months, according to results of the Small Business Research Board
(SBRB) poll released today completed in conjunction with Integrated Business
The majority of respondents (85%) to the first SBRB poll of businesses in
Canada believe the economy will remain the same or improve, with nearly half
of those (42% overall) expecting the economy to get better.
Furthermore, 94% of the respondents predict their revenue will remain the
same or increase during this period, with 19% projecting an increase of up to
10% and 35% expecting revenues to grow by more than 10%. Only 6% said they are
forecasting lower revenues during the coming 12 months.
Concurrently, the majority of the businesses (52%) intend to grow without
adding staff, intending instead to focus on methods for improving
productivity. According to the SBRB, 36% said they will add employees, 5% said
they will decrease the workforce and 6% remain undecided.
Business owners and managers reported that they will invest more towards
improving staff training than in adding staff.
"We are not surprised at the SBRB tabulations which show that finding
quality employees is among the most critical issues affecting small
businesses. The research clearly demonstrates, however, that owners and
managers are committed to providing education and training to current staff in
lieu of or in concert with searching outside their walls to meet current and
future needs," said Gregg M. Steinberg, President of IBA.
Finding quality employees was the third greatest issue impacting small
businesses in Canada following "taxes" and "economic conditions" respectively.
A full one-third of the businesses (34%) intend to expand during the next
12 to 24 months. They expect to provide more services (22%), expand at current
locations (20%), enhance customer service (19%) and add new products (18%).
Only 14% said they will expand by adding locations.
This is the first nationwide SBRB Canadian study. It will be updated
quarterly, similar to the studies that have been conducted quarterly studies
in the U. S. since 2004.
IBA is based in Toronto. IBA, along with its affiliate companies, have
more than 1,800 professionals and comprises the largest privately-held
provider of management consulting services to small and medium-size businesses
in North America.
The Small Business Research Board ascertains and reports the opinions of
small business owners and managers. The SBRB conducts these studies for the
benefit of small business owners and managers. The SBRB also provides
opportunities for third parties to gain real time insight into the attitudes
of small businesses nationwide through the independently conducted research.
The universe of participants is developed from among small businesses
across Canada. More than 170 small business owners and senior managers
participated in this voluntary SBRB poll.
The latest information about the Small Business Research Board can be
found at www.biznus.net/iba.
Integrated Business Analysis, Inc. (IBA) along with affiliate companies
is the largest privately-held provider of management consulting services to
small and medium-size businesses in North America. The more than 1,800
professionals in North America offer a wide range of proven and innovative
methodologies to help businesses grow and prosper regardless of the economic
cycle. IBA either provides directly or through its affiliated companies a
comprehensive array of business advisory services, tax and estate planning
services or merger, acquisition and other financial advisory services in
Canada and the United States.
Canada SBRB / Integrated Business Analysis June 2007 Outlook
Outlook for the general economy during the next 12 months
No Change 43%
Revenue expectations for next 12 months
Increase of 10% or more 35%
Increase of less than 10% 19%
Will be about the same 40%
Decrease of less than 10% 2%
Decrease of 10% or more 4%
Expect to hire new employees during next 12 months
Increase hiring 36.3%
Decrease workforce 5.4%
Remain the same 52.3%
Issues having greatest impact on business
2. Economic conditions
3. Finding quality employees
4. Cost of materials
5. Interest Rates
Plan to expand business next 12 to 24 months
Of those planning expansion
1. 22% will provide more services
2. 20% will expand at current locations
3. 19% will enhance customer service
4. 18% will add new products
5. 14% will add locations
Plans for improving productivity
1. Improve staff training
2. Add staff
T-3. Add automation or technology
T-3. Improve existing automated systems
5. Implement or enhance employee incentive programs
Copyright 2007 Small Business Research Board (SBRB)
For further information:
For further information: For Small Business Research Board Raymond D.
Minkus, (847) 441-4192 firstname.lastname@example.org