Canadian small and medium-sized business owners across Canada are increasingly optimistic that their international business activity will grow significantly over the next year, according to a survey conducted by HSBC Bank Canada.
More than half (54%) of business owners that currently transact in foreign markets predict their business will expand over the next 12 months. That's 12% more than results from a similar survey conducted in the second half of 2008.
More than 70% of Vancouver SME business owners and 67% of business owners in Toronto felt their international business would expand, making them the most optimistic across the country. Montreal business owners were the least optimistic (30%).
Overall, 41% believe they would be expanding by more than 10%, while 13% said their overseas exposure would grow by less than 10%. Thirty-six per cent felt it would stay the same.