Canadian Businesses are much more optimistic about long-term survival than in the Spring
TORONTO, November 24, 2020
The latest findings from The Business Monitor, which surveyed of over 1,000 Canadian managers and executives, show a big upswing in business leaders’ expectations for long-term survival from early stages of the pandemic in the spring.
The number of businesses expecting to survive more than two years has more than doubled.
In April, 43% of Canadian businesses did not think they could survive more than six months. This number has now plummeted to just 13%, suggesting a high level of adaptation to the pandemic and its effects.
- Notably, there is a progressive increase in expectations for long-term survival with company size from 44% for micro-sized businesses (<10 employees) to over two-thirds for large organizations (500+ employees). Over half of small to mid-sized companies (56%) expect to survive for two years or more.
- While expectations for long-term survival vary, there is no variation across company size in terms of short-term demise.
In keeping with this big upswing in expectations for survival, the survey also reveals that three-quarters of businesses either expect a full recovery or are already there.
This is not to understate the impact of COVID. Fully 70% of businesses have experienced a negative impact.
About The Business Monitor
The Business Monitor is Canada’s only B2B omnibus service. For reliable and accurate results without the cost of a custom business survey, the Monitor offers our clients the flexibility they need. Results from the Monitor are based on a scientific sample of Canadian business leaders rather than the common and unrepresentative business surveys circulating today that rely on members of lobby groups or recruiting from internet.
For more information on this release or The Business Monitor please contact:
President, Modus Research
Phone: 1-800-254-6944 x224
Email: cgraves at modusresearch dot com
About Modus Research
Established in 2012, Modus Research is a full-service research agency that provides clients with actionable feedback from Canadian enterprises based on scientifically representative samples. We offer our clients exclusive access to the Modus Business Panel – the gold standard of B2B research in Canada.