The Future of Work … is Resilient

Back to 2021 HSBC Navigator: The Voice of Business

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.

The pandemic is not dampening enthusiasm for exploring further trade opportunities outside of Canada. As Canadian businesses continue to respond to shifting needs, they recognize the benefits of international trade for their business and broader society.


Highlights - Overall

46% of Canadian businesses say the COVID-19 second wave is the leading threat to their business growth.

Even in the midst of a global pandemic, 20% of Canadian companies expect to meet or exceed their pre-COVID profitability levels before the end of 2020.

Two thirds of Canadian businesses expect international trade to improve in the next 24 months.

Find out more

Need help?

Get in touch to learn more about our banking solutions and how we can help you drive your business forward.