Small Business Owners Less Optimistic


    Small business owners in Ontario are headed into 2017 with a less optimistic outlook compared to last year, says data from credit union Meridian. Meridian’s ‘2016 Small Business Banking in Ontario’ survey finds that 67 per cent of small businesses expect growth this year, down 11 per cent from 2015. In addition, 52 per cent flag cash flow as their top concern, with economic uncertainty coming in second at 51 per cent. Changes in fluctuating currency make 38 per cent uneasy and provincial legislation changes concern 37 per cent, but only 23 per cent worry about finding good employees. The surging real estate market also draws red flags with some small businesses. But while more than half, (57 per cent) agree that the current market is unsustainable, only 12 per cent say that the real estate market is negatively impacting their business expansion plans.