Business conditions in Canada, second quarter of 2024

Release date: May 27, 2024
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Infographic: Business conditions in Canada, second quarter of 2024
Description: Business conditions in Canada, second quarter of 2024

The top 3 obstacles expected by businesses over the next 3 months are cost-related


The top 3 obstacles expected by businesses over the next 3 months are cost-related
Table summary
This table displays the results of The top 3 obstacles expected by businesses over the next 3 months are cost-related. The information is grouped by Rising inflation (appearing as row headers), 54.40% (appearing as column headers).
Rising inflation 54.4%
Rising cost of inputs 44.6%
Rising  interest rates and debt-related costs 40.6%

2 in 5 businesses expect labour-related obstacles over the next 3 months


2 in 5 businesses expect labour-related obstacles over the next 3 months
Table summary
This table displays the results of 2 in 5 businesses expect labour-related obstacles over the next 3 months. The information is grouped by Recruiting skilled employees (appearing as row headers), 31.30% (appearing as column headers).
Recruiting skilled employees 31.3%
Shortage of labour 24.9%
Retaining skilled employees 21.9%

Among businesses anticipating labour-related obstacles, expected impacts on business activities


Expected impacts of labour-related obstacles
Table summary
This table displays the results of Expected impacts of labour-related obstacles. The information is grouped by Management working more hours (appearing as row headers), 46.30% (appearing as column headers).
Management working more hours 46.3%
Existing staff working more hours  36.8%
Business growth limited 34.3%
Hiring less suitable candidates 32.6%

3 in 5 businesses reported facing real estate-related challenges


Most common real estate challenges reported
Table summary
This table displays the results of Most common real estate challenges reported Percentage of businesses that expect real estate challenges (appearing as column headers).
Rising cost of insurance 45.3%
Rising cost of maintenance and repairs 43.6%
Rising property taxes 37.9%
Rising cost for improvements and renovations 33.1%
Rising shared costs or common area maintenance fees 15.2%

Source: Statistics Canada, Canadian Survey on Business Conditions, second quarter of 2024.

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Copyright

Published by authority of the Minister responsible for Statistics Canada.

© His Majesty the King in Right of Canada, as represented by the Minister of Industry, 2024

Use of this publication is governed by the Statistics Canada Open Licence Agreement.

Catalogue no. 11-627-M

Frequency: Occasional

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