Ontario businesses in financial sector most likely to expand

By Staff | January 29, 2014 | Last updated on January 29, 2014
1 min read

Ontario businesses are more confident in the Ontario economy compared to this time last year, according to a new survey from the Ontario Chamber of Commerce and Leger Marketing. The index also shows 74% of businesses are confident in their own organization’s outlook, a 2% increase over the previous year.

Read: Canadians optimistic about job market, economy

Additionally, businesses in the financial services sector (74%) are the most likely to expand over the next five years.

“Ontario businesses are confident in themselves and in their capacity to invest in Ontario,” says Allan O’Dette, president and CEO of the Ontario Chamber of Commerce. “I think there’s cause to be cautiously optimistic–business confidence levels are on the uptick, but they’re not great.”

Read: Big firms shine as boutiques suffer: IIAC

He adds, “Right now there is uncertainty in Ontario’s business climate, possibly as a result of potential changes to the pension system and rising energy costs.”

Additional findings include:

  • 48% of businesses are confident in the Ontario economy, up 4% from last year;
  • 42% believe Ontario’s economy is headed in the right direction, 38% believe it is not;
  • 51% of manufacturers plan to expand over the next five years; and
  • The Hamilton-Niagara Peninsula region is the most confident in the province, while Windsor-Sarnia is the least confident.
Advisor.ca staff


The staff of Advisor.ca have been covering news for financial advisors since 1998.