There is no need to worry about the future of Canadian business, according to the recent Deloitte survey. The first survey of Deloitte Private asked the businesses in Canada and across the globe about where they are heading and what makes them nervous. The survey also asked businesses about their proprieties. The major cause of concern among businesses all over the globe and Canada is the disruption. In fact, Canadian businesses were worried more about disruption than the rest of the world.
41% of the Canadian businesses are worried about the disruption in the next 3 to 4 years by a non-traditional business. 49% of the global businesses feel that disruption can raise some issues. The remedy to disruption is to use technology to boost the growth. About 45% of the global firms believe so. But, only 26% of the Canadian companies have plans to use tech to boost their growth.
There is great confidence among the private company executives. They believe that their companies will see good business growth in the next two years. 57% of the executives of the Canadian private business feel that their business revenue will increase in a year’s time. The Canadian businesses have said that the most significant risk to growth for them is the disruption.