Privately-Held Companies Say Business Improving

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    Despite economic performance being their chief concern, 77 per cent of privately-held companies say that business is going to get better over the next year, says the ‘Business Insights 2012’ study by PwC Canada. In fact, almost two-thirds of owners expect a growth rate of four per cent or more over the next year. The top reasons why owners think their business will get better are improved sales and more market share. Mid-size company owners (fewer than 500 employees) see themselves faring better than their larger counterparts do and more of them expect their business will get stronger by the middle of 2013. Smaller companies (up to 100 employees) seem to be the most optimistic with over half saying their expected growth rate is higher this year than in 2011. Newer companies (operating less than 20 years) also see better prospects for themselves and are more in tune with nurturing innovation. Eighty-five per cent of them see things looking up versus 73 per cent of companies older than 20 years.