Almost one-third (29%) of Canadian entrepreneurs plan to add staff in the next year, up from 25% in 2011, reports RBC.
However, finding qualified candidates is rough—32% of small biz owners say it’s their top challenge.
And 68% plan to invest in their businesses within the next two years. This includes: new equipment (35%); new technology (29%); new products and services (27%); and employee training (17%).
“The intention to invest in their enterprises demonstrates the continued resiliency of Canadian small business owners,” says Mike Michell, national director, small business, RBC.
He adds, “Many may see this as a good time to take advantage of low interest rates and perhaps purchase new equipment in USD or other currencies that have lost ground to our Canadian dollar.”
Small businesses continue to be a key driver of economic growth, accounting for 43% of all jobs created in the private sector from 2001 to 2011, according to Statistics Canada.