Canada: Businesses in Prince Edward Island increasingly optimistic

Arecent report on the investment plans of small and medium enterprises (SMEs) from the Business Development Bank of Canada has shown that SMEs are more confident going into 2017 than they were at the start of 2016, although investment intentions have remained stable. More specifically, confidence in Prince Edward Island (P.E.I) is up, with more than 7 in 10 SMEs expecting to increase their sales (71%), a sharp increase from 45% in 2016. Additionally, 79% of SME businesses in P.E.I. are intending to invest in 2017, with an average investment value of $200,000. Canadian entrepreneurs reported growth as the main driver for investing, while cash flow appears to be a key barrier to investments in P.E.I.

Confidence in Prince Edward Island (P.E.I) is up, with more than 7 in 10 SMEs expecting to increase their sales (71%), a sharp increase from 45% in 2016.

RFi Group’s research supports these findings, showing that Canadian SMEs are more likely to be optimistic in regards to the business expansion, with the proportion that are looking to expand in the next 12 months increasing from 39% in H2 2015 to 41% in H2 2016.


Source: RFi Group Canada SME Banking & Payments Council (15H2 & 16H2)

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