New study discovers 80 percent of Canadian business leaders plan to increase spending
Bank of Montreal released a study on Wednesday showing the majority of Canadian business owners are confident the economy is turning around.
The survey, which included responses from 427 Canadian businesses with annual revenues between $5 million and $75 million, found 77 percent of business leaders believe an economic recovery is imminent.
Eighty percent of respondents said they are actively investing or pursuing new spending initiatives for their businesses. Despite the economy returning to normal, company purchasing behavior may not.
Many organizations are looking to invest in sustainable products, such as an energy-saving lighting system, an LED monitor and a mercury-free
business projector, to reduce their expenses and become more energy-efficient.
“Canadian business spending on new equipment and machinery has increased since the fall, which is a step in the right direction,” said Gail Cocker, senior vice president of commercial banking at BMO.
Cocker said the increased spending, in conjunction with more training for employees, will help boost productivity and strengthen the “competitive position for Canadian businesses at home and abroad.”
Across the border, a recent survey found many Connecticut businesses are also embracing new spending plans, focusing primarily on sustainable products. Nearly 75 percent of respondents have adopted sustainable business strategies, up from 47 percent three years ago.
