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Small and medium businesses optimistic

Canadian small and medium decision-makers (SMEs) are signaling signs of optimism for the next year, despite still feeling the effects from the pandemic. That is according the 3rd edition of the FedEx Trade Index, an annual poll of 500 small and medium business decision-makers conducted by Morning Consult on behalf of FedEx Express Canada.

Of those surveyed in the FedEx Trade Index, over one-third of survey respondents (39 per cent) reported that their current revenues are increasing.

54 per cent feel confident their revenues will increase in a year from now. 89 per cent of survey respondents stated they were confident they will retain existing customers.

On the topic of trade, 76 per cent of small and medium decision-makers surveyed agree that trade is key to growing and expanding the economy. In fact, despite the much-publicized challenges global supply chains experienced in 2021, three-quarters (79 per cent) of respondents believe that expanding trade and business opportunities to customers in other countries is good.

“The pandemic has been the most challenging time for small and medium businesses in generations, yet the optimism Canada’s entrepreneurs exude is something we should all embrace,” said Lisa Lisson, president of FedEx Express Canada. “Despite the bumps with the global supply chain over the last few months, SMEs continue to recognize the importance of international trade. Their confidence in global trade fueling the performance of the Canadian economy shows our business leaders have embraced a growth-mindset for this year—which is exactly what our economy needs right now.”

“Consumers around the world can benefit from made-in-Canada goods and services, and e-commerce is the gateway to helping businesses of all sizes enter and prosper in new markets,” said Lisson. “For the 41 per cent of survey respondents who said they found it hard to acquire new customers domestically, and for any business owners who are only catering to their local customers, we urge them to take a step back to see their potential in reaching 7.8 billion people. The success of those entrepreneurs who have made the world their marketplace is an inspiration to all Canadian SMEs.”

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