More Canadian entrepreneurs plan to hire: 2012
RBC Small Business Survey
Unfazed by economic uncertainty, Canadian small business
owners plan to invest in their businesses
TORONTO, October 17, 2012 - More Canadian small business
owners plan to hire this year, according to the 2012 RBC Small
Business Survey. Almost three-in-ten (29 per cent) are confident
that they will be adding new (full or part-time) employees
within the next 12 months, up from 25 per cent in 2011. Optimistic
about the future success of their business, 68 per cent of
entrepreneurs plan to invest in their businesses within the
next two years.
Another recent RBC
study found that 94 per cent of Canadians believe that
small businesses play a critical role in the growth of the
economy and 88 per cent view them as vital job creators in
their community. According to Statistics Canada, small businesses
continue to be key sources of new jobs - small firms accounted
for, on average, 43 per cent of all jobs created in the private
sector between 2001 to 2011.
"Small businesses are an important driver of the economy,"
said Mike Michell, national director, Small Business, RBC.
"It's a very positive sign that, despite challenging
times, almost three-in-ten Canadian business owners are telling
us that they are preparing to invest in new employees."
However, hiring new employees is not without its difficulties
for entrepreneurs. One-in-three (32 per cent) business owners
with five to 25 employees say that finding qualified help
will be one of their top challenges over the next year.
Taking a longer term view, key areas of small business investment
in the next two years identified in the RBC poll include:
- new equipment (35 per cent)
- new technology (29 per cent)
- new products and services (27 per cent)
- hiring new employees (17 per cent)
- employee training (17 per cent)
"The intention to invest in their enterprises demonstrates
the continued resiliency of Canadian small business owners,"
added Michell. "Almost a quarter of Canadian entrepreneurs
(23 per cent) expect to continue growing the size of their
business. Many may see this as a good time to take advantage
of low interest rates and perhaps purchase new equipment in
USD or other currencies that have lost ground to our Canadian
dollar."
About RBC Small Business Banking
If you are a small business entrepreneur who is starting
a business, managing
growth, or considering succession
planning, the RBC
Advice Centre can help answer your questions. Free interactive
tools and calculators provide customized information covering
many facets of business
finance. In addition, online advice videos are updated
regularly to answer questions that are top of mind with small
business owners. With the guidance of RBC business advisors,
small business owners have access to free, no obligation professional
advice about RBC products and services. For more assistance,
please visit rbcadvicecentre.com.
About RBC/Ipsos Reid Small Business
Survey
These are some of the findings of an RBC/Ipsos Reid survey
conducted from August 9 to 20. This online survey of 1,004
small business owners, who were either self-employed or owned
their own small business, was conducted via the Ipsos I-Say
Online Panel, Ipsos Reid's national online panel. The results
are based on a sample where quota sampling and weighting are
employed to balance demographics and ensure that the sample's
composition reflects that of the actual Canadian population
according to Census data. Quota samples with weighting from
the Ipsos online panel provide results that are intended to
approximate a probability sample. An unweighted, probability
sample of this size, with 100 per cent response rate would
have an estimated margin of error of ±3 per cent, 19
times out of 20. Margins of error for subgroups will be higher.
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For more information, please contact:
Margie McNeil, RBC, 905-606-1425,
margie.mcneil@rbc.com
Angela Harkey, RBC, 905-816-5650,
angela.harkey@rbc.com
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