Business conditions in Canada, third quarter of 2022
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Description: Business conditions in Canada, third quarter of 2022
Business expectations over the next three months
80.4% expect to keep the same number of employees
60.0% expect rising inflation to be an obstacle
50.0% expect profitability to remain relatively unchanged
48.6% expect meeting an increase in demand to be a major or moderate challenge
47.1% expect the rising cost of inputs to be an obstacle
38.4% expect transportation costs to be an obstacle
37.0% expect rising interest rates and debt costs to be an obstacle
34.0% expect to raise the prices of goods and services
22.4% expect the demand for products and services to increase
Labour
38.7% expect recruiting skilled employees to be an obstacle
37.1% expect the labour force shortage to be an obstacle
30.9% expect retaining skilled employees to be an obstacle
Of businesses that expect labour-related obstacles, 61.8% find recruiting and retaining staff more challenging than 12 months earlier
Supply chain
71.5% of businesses purchase materials, parts, components, or goods for sale from a domestic supplier
82.8% of businesses purchase materials, parts, components, or goods for sale from a foreign supplier
Over the next three months…
26.8% of businesses expect difficulty acquiring inputs, products or supplies from within Canada
14.4% of businesses expect difficulty acquiring inputs, products or supplies from abroad
14.2% of businesses expect maintaining inventory levels to be an obstacle
Supply chain challenges
Of businesses that expect supply chain challenges over the next three months…
58.2% reported that supply chain challenges have worsened over the last three months
30.6% reported that they plan to partner with new suppliers over the next 12 months
29.6% reported that they plan to substitute inputs, products or supplies with alternate inputs, products or supplies over the next 12 months
29.2% reported that they plan to work with suppliers to improve timeliness over the next 12 months
Interprovincial trade
21.4% of businesses traded goods or services interprovincially over the last 12 months
Of these businesses that conducted interprovincial trade activities over the last 12 months…
57.0% directly exported or imported goods or services to or from Ontario
48.1% directly exported or imported goods or services to or from British Columbia
46.6% directly exported or imported goods or services to or from Alberta
41.9% directly exported or imported goods or services to or from Quebec
45.1% did not experience any obstacles importing or exporting goods or services interprovincially
Source: Statistics Canada, Canadian Survey on Business Conditions, third quarter of 2022.
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