Business Conditions in Canada, fourth quarter of 2023
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.
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