Evolution not revolution
While COVID-19 continues to challenge how companies operate, two thirds (67%) expect international trade to improve over the next 24 months. However, it may not look quite the same as before — less than half (44%) of Canadian companies expect intra-regional trade to remain a chief priority. In fact, new realities may lead many more businesses back to the “old world,” with the share of trade with Europe expected to increase 32% compared to last year.
Staying agile, savvy and innovative is key for many companies, with six-in-ten intending to increase their overall financial investment in the business in the next year — with a greater focus on environmental and ethical sustainability, as well.
While 2020 has been fraught with uncertainty, many Canadian businesses are feeling more confident about the months and years ahead. More than four-in-five say they expect to return to pre-COVID levels of profitability by the end of 2022 — with a fifth (20%) saying they’re either already ahead of pre-COVID levels, or will be by the end of this year.
Find out how you can navigate the economic and trade evolution.
