Why are we confident?
In a recently released Small Business Confidence Report by the Bank of Montreal, it can be seen that numerous small businesses are more optimistic about 2014.
The Facts
In the past couple of years, the bad economy has affected all the businesses; however, the index of confidence for small businesses has been gradually increasing through the past few years. The fact that 46 percent of businesses plan on hiring more employees is great; less people will be unemployed and there were be a better distribution of income.
Prospects of 2014
I feel like in the coming year, with more effort and more hope in these companies and industries, the economy will be better. Less families will be tight on money and the country will become a little more prosperous than before. The fact that 76 percent of the businesses plan to upgrade equipment, and 45 percent of businesses plan to upgrade technology and systems means that they are either increasing their production or they are introducing a new product. This desire of upgrading hints that the businesses are earning enough money to expand and invest more into capital and others. Although these businesses will come across competitors and other barriers to entry, I believe that next year will turn out to be more successful than the last.
Read more into it at :
http://globalnews.ca/news/887220/small-business-confidence-on-upswing-bmo-survey-shows/
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Image References:
BMO, Bank of Montreal. Digital image. Beach BIA –. N.p., n.d. Web. 07 Oct. 2013. <http://www.beachbia.com/Businesses/BMO,-Bank-of-Montreal>.
Canadian Business Remaining Confident. Digital image. CREBNow RSS. N.p., n.d. Web. 07 Oct. 2013. <http://www.crebnow.com/canadian- business-remaining-confident/>.