From October 3rd to November 6th, 2023, Statistics Canada conducted the Canadian Survey on Business Conditions. The purpose of this survey is to collect information on businesses in Canada related to emerging issues. This infographic presents key results from this.
Description - Business Conditions in Canada, fourth quarter of 2023
Business expectations over the next three months
56.9% expect rising inflation to be an obstacle
52.2% expect profitability to remain relatively unchanged
44.7% expect the rising cost of inputs to be an obstacle
42.7% expect rising interest rates and debt-related costs to be an obstacle
40.3% expect the shortage of labour, or recruiting or retaining skilled employees to be an obstacle
Labour-related obstacles over the next three months
29.4% expect recruiting skilled employees to be an obstacle
25.7% expect the shortage of labour to be an obstacle
23.6% expect retaining skilled employees to be an obstacle
Business expectations for wage increases over the next 12 months
20.8% expect to increase wages at a slower rate than last year
46.5% expect to increase wages at a similar rate as last year
8.5% expect to increase wages at a faster rate than last year
24.1% are unsure
Among businesses that received a repayable loan from the Canada Emergency Business Account (CEBA), 7 in 10 businesses have not yet paid back the loan in full
Of these businesses:
- 65.6% expect to have the available liquidity or access to credit to repay the CEBA loan by December 31, 2026
- 19.9% are unsure whether they will have the available liquidity or access to credit to repay the CEBA loan by December 31, 2026
- 14.5% do not expect to have the available liquidity or access to credit to repay the CEBA loan by December 31, 2026
Source: Canadian Survey on Business Conditions, fourth quarter of 2023.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).