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Canadian small businesses are much more confident about survival

Modus Research Inc.
·2-min read

The number of Canadian SMEs that think they can survive more than two years has more than double since the onset of COVID

SMEs are much more confident about survival

A big shift in confidence among Canada's SMEs
A big shift in confidence among Canada's SMEs
A big shift in confidence among Canada's SMEs

TORONTO, March 01, 2021 (GLOBE NEWSWIRE) -- In the latest survey from The Business Monitor, released by Modus Research, Canadian executives were asked how long could their organizations remain viable, assuming current public health restrictions remain in place. This question was asked in the spring, fall and winter of 2020.

The results show that Canadian SMEs (Small and Medium-sized Enterprises) are much more confident than they were at the beginning of the pandemic. In April 2020, 44% of SMEs thought they would be out of business in less than six months and only 20% of SMEs thought they could last more than 2 years.

When SME executives were asked again in the fall, just 1 in 6 now thought they would be out of business in under 6 months(about one-third of the number from the spring). The number that thought they could last more than two years more than doubled and reached a majority by the end of 2020.

This survey was carried out among a representative sample of over 700 Canadian managers and executives at the end of 2020. Unlike other business surveys, the sample is fully random and representative of all Canadian businesses.

For more details see our website: https://modusresearch.com/canadian-small-businesses-are-much-more-optimistic-about-survival/

About The Business Monitor

The Business Monitor is Canada’s B2B omnibus service. Results from the Monitor are based on scientific samples of Canadian business leaders.

About Modus Research

Established in 2012, Modus Research is a full-service research agency that provides clients with actionable feedback from Canadian enterprises based on scientifically representative samples. We offer our clients exclusive access to the Modus Business Panel – the gold standard for B2B research in Canada.

@ModusResearch

An image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6cfa71fb-67ec-4b2c-829d-b121bdc0eb29

CONTACT: For more information on this release or The Business Monitor please contact: Charlie Graves President, Modus Research cgraves at modusresearch dot com