THE MAJORITY OF BUSINESSES HAVE A POSITIVE OUTLOOK
Organizations placing more emphasis on cost-consciousness
WINDSOR, NS (February 28, 2024) – Atlantic Insights is a survey that explores how Atlantic Canadian businesses currently feel about the economy and the expected direction in the coming months. It explores critical challenges that businesses in the region are facing. A total of 151 surveys were completed, and 135 of those were completed by someone in a decision-making role within their organization.
“Businesses are watching their costs, and we will be watching to see if the provincial and federal governments are doing the same in the upcoming budgets. We expect to see a reduction in red tape and cost to doing business in Atlantic Canada,” states CEO Rhonda Tulk-Lane.
KEY FINDINGS
Majority of businesses still have a positive outlook, and are making adjustments
· Majority still maintain a positive perception of their operations and future state
· Organizations placing more emphasis on cost-consciousness
· As a result, many organizations are becoming more risk averse, deprioritizing less pressing or optional initiatives, and juggling rising human resources expenses
· Most organizations note that they are currently in at least acceptable shape, and only a small minority indicate being in poor shape
· Although most expect to grow their organization in the next five years, it is to a lesser extent than in the past