The Ottawa Business Growth Survey finds that business confidence remains high; sectors most likely to recruit are IT and construction.

 

Market Outlook: Ottawa Business Growth Survey (2018)

Over 1000 business leaders responded

65% have 1 – 20 employers or are owner/operators

 

What are the key findings?

• Business confidence remains positive, despite a slight drop from 2017
• Local companies are expanding & expecting future growth
• Retail and hospitality forecast a contraction in their sectors (coming off Canada 150 celebrations in 2017)
• While the cost of doing business is perceived to be getting worse, more than 1/3 of respondents plan to buy/lease more commercial space
• 51% of businesses had higher net income in 2017 than in 2016
• More than 50% of respondents report sales & revenue are increasing

What is the market outlook over the next year?

• More than 50% of respondents believe the market will strengthen for their businesses over the coming year

• Sectors with most positive outlook on market growth: technology (71%) & construction (56%)

Do businesses plan to increase recruitment over the coming year?

• More than 40% of respondents plan to recruit new employees
• Sectors most likely to recruit: technology (69%) and construction (47%)

What are the top issues facing Ottawa businesses?

• Attracting more customers
• Recruiting skilled workers

What are the workplace trends?

• Telecommuting continues to grow in popularity
• 20% of respondents report more employees are working from home

What is the biggest issue facing Ottawa businesses?

• More than 40% of respondents say the increase in the minimum wage will have a negative impact on their business

• Hospitality, retail and hospitality are the sectors most perceived to be impacted
• Raising prices and increasing automation are the 2 most common measures planned to address this issue

To read the full report:

http://www.ottawabusinesssurveyreport.ca/

The Ottawa Growth Study is sponsored by Welch LLP and the Ottawa Chamber of Commerce, the latter is an EARN Champion Stakeholder member.