Canadian CEOs are far more confident about revenue growth in their businesses over the next few years than chief executives around the world, according to a new PricewaterhouseCoppers LLP Global CEO survey.
Fifty-nine per cent of Canadian CEOs were at least somewhat confident about revenue growth in the next year, compared with 49% of CEOs around the world.
Over the next three years, 63% of Canadian CEOs were confident about revenue growth compared with 51% of CEOs elsewhere.
A more resilient Canadian economy compared with other economies is one of the reasons for Canadian CEO confidence. The survey found that 54% of executives will be looking within Canada for growth, compared with about a third of CEOs globally.
Unlike previous years when credit was cheap, 88% of Canadian CEOs said they expect to finance their growth from internally generated cash flow. Only 37% said they'd finance growth and only 27% said they'd look to enter a partnership with private equity.
Despite the economic downturn, with a growing list of major corporations cutting thousands of staff, CEOs were still concerned about finding and retaining talent. Eighty-one per cent of Canadian CEOs say they can't find the right skills, and 85% said retention of key employees and recruiting younger employees remains a challenge.