A new report by the Business Development Bank of Canada (BDC) says that small and mid-sized businesses in Canada are expected to increase their investments by 3% this year to $140.5 billion.
BDC says the increase is due largely to a surge in business acquisition plans. Specifically, it
says that business owners expect to increase their spending on acquiring other businesses this year to $18.9 billion, up from $10.6 billion in 2017.
“Sustaining growth” was the top-cited reason for investing, followed by “boosting the value of the business” and “keeping pace with the competition,” states the report.
The technology sector saw the highest growth in investment intentions, followed by the services sector. Plans in manufacturing were flat and a decline was expected in the construction and resources sectors.
BDC’s annual study of investment intentions is based on a survey conducted in August and September last year and included a total of 4,019 business owners.
