COVID-19: Quebec entrepreneurs remain optimistic about the pandemic

Quebec entrepreneurs are among the most optimistic in the country regarding a resumption of investment, despite the second wave of the pandemic and growing health restrictions, reveals a report from the Business Development Bank of Canada (BDC).

While the numbers remain low, with 35% of Canadian entrepreneurs optimistic versus 36% pessimistic, a clear improvement has nonetheless been observed over the last three quarters, according to this study on the investment intentions of Canadian companies in 2021.

And it is in Quebec that confidence is highest, with an increase of 14%. British Columbia follows closely (+ 13%). Conversely, entrepreneurs in the Prairies (-11%) and Ontario (-10%) are the most worried.

Investment intentions in 2021 are also higher in the province, dropping from -25% last spring to 4%, while, across Canada, they ranged from -32% to -3%.

Quebec is also the only province to record a 14% increase in hiring intentions.

Overall, nearly 38% of Canadian entrepreneurs expect sales to increase this year, for the first time since the recession began almost a year ago.

However, all is not rosy for Quebec companies, since 67% of them admit that it remains difficult to hire and 65% indicate that it is difficult to cope with an unexpected increase in sales.

“We have had a difficult year and, although these are the most positive results we have seen since the onset of the health crisis, we believe that corporate spending will remain low over the next few months,” said thus concluded by press release Pierre Cléroux, vice-president of research and chief economist at BDC.

BDC’s quarterly survey was conducted by Delvinia from December 3 to 18, 2020, among 1,001 small and medium business owners.

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