Canadian small businesses remain more confident about their own operations than they do in the Canadian economy, according to a recent Angus Reid Strategies survey conducted for Staples Canada.
Almost 60% of Canadian small businesses expect to see some improvement in their business over the next six months. About 70% of Canadian small businesses rate their financial status as good, and only 30% say it's poor.
On the other hand, 66% of Canadian small business owners consider Canada's economic conditions as poor, while only a third think conditions are good.
The survey suggests that small businesses are better able to adapt and react quickly to changing economic conditions, according to Brian Coupland, Staples Canada's director of small business strategy.
The survey found that the biggest challenges facing small business owners include business development and sales (60%), cost reduction (58%) and setting pricing to maintain profitability (47%).