Douglas Weekly 2023

Douglas Weekly – October 2nd

October 2, 2023

IN THE KNOW:

Despite Trying Times, Canadian Small Business Owners are Optimistic About the Future

Recently, insurance broker Zensurance conducted a national survey to get a sense of what small business owners are worried about in the second half of 2023. It found that 89 per cent of business owners identify inflation as their primary concern. A Statistics Canada survey also found that, in the first quarter of 2023, small business owners were most concerned about inflation. Labour force shortages and rising interest rates and debt costs were among other major concerns.

However, small business owners are optimistic about the future. Says Zensurance’s CEO Danish Yusuf, “Our latest survey results clearly show that Canadian small businesses are grappling with managing their costs in a challenging economy, but it also shows they are optimistic, resilient [and] forward-looking.”

According to the Zensurance survey, 71 per cent of small business owners believe their businesses will perform well in the second half of 2023. The Statistics Canada survey also found similar levels of optimism: “Nearly two‑thirds (65.2%) of businesses with 1 to 19 employees reported having a positive outlook over the next 12 months, while over four‑fifths of businesses with 20 to 99 employees (81.9%) … had the same outlook.”

FROM THE CURRENT ISSUE OF DOUGLAS:

The Revolutionary Ideas of Generation Next

Millennials and zoomers, also known as generations Y (born 1981 to 1996) and Z (1997 to 2012), bring a decidedly different attitude to their jobs than their older colleagues. They want better work-life balance, more inclusivity and more creative freedom from their employers. As a result, perhaps unfairly, they’ve gained the reputation of being lazy, overly sensitive and even entitled.

But they also bring many gifts to the table — among them their technological skills, diversity, inclusiveness and an often innovative approach to work. These are things that every workplace can benefit from.

Read the full story here.