Half of Canadian Entrepreneurs Project Continued Growth in 2017

BMO Small Business Report - Seite 2

Micro Businesses Feel Differently Than Small Businesses

While entrepreneurs across Canada are generally optimistic, small and micro business owners differ by degree. BMO's small business report revealed micro businesses, those with fewer than ten employees, are less positive about growth and execution in 2017 than small business owners.

Forty-eight per cent of micro business owners - compared to 60 per cent of small business owners - predict growth in 2017, while 39 per cent believe their size will remain unchanged. In addition, only half of micro business owners - compared to 65 per cent of small business owners - foresee a better year.

"Micro business owners were more aligned with small business owners' optimism back in 2014, which shows an interesting change. A large number, 27 per cent, now anticipate a slower year. The economic backdrop, especially in areas where the situation might be more challenging, and hesitancy to invest, could be factors for these businesses," said Mr. Irvine.

They both, however, have similar expectations in terms of their online presence, and the country's economic performance as well as their own province's.

To learn more about BMO's business services, visit www.bmo.com/business.

Survey results cited in this report are from phone interviews with a random sample of 304 Canadian small business owners or managers conducted between September 7th and 23rd, 2016. The margin of error for this survey is ± 5.6%, 19 times out of 20. Data has been weighted using the latest census information to be representative of Canadians business as a whole.

About BMO Financial Group

Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $692 billion as of July 31, 2016, and over 45,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.

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