A recent survey by BMO Bank of Montreal has found that an overwhelming majority (91 per cent) of Canadian franchisees are optimistic that the economy will grow or remain the same this year. The study also found that nine out of 10 expect their business will expand or remain steady this year.
"It's encouraging to see the optimism among small-business owners, including franchisees, in Canada," said Steve Iskierski, senior manager, national franchising services with BMO
The survey, conducted by Leger Marketing, also revealed that the top ways franchisees plan to take advantage of the strong loonie are to upgrade equipment (67 per cent) and expand operations (42 per cent).
This anticipated expansion of Canadian franchises parallels the overall economic growth expected, with gross domestic product pegged at 3 per cent and retail sales values likely to rise more than 4 per cent.
"Healthy job growth will provide ongoing support," said Sal Guatieri, senior economist, BMO Capital Markets. "Canadian retailers should enjoy another good year, though sales are likely to downshift modestly from the 5 per cent rate of last year."
from Western Investor August 2011
