How to Cope With Inflation and Remain Profitable
Year: 2023
Content-Type: Case study
Description: An ageing population, the energy transition, and faltering globalization will continue to put pressure on business costs in the coming years. What can companies do to adapt to these potentially profit-threatening trends? BDC surveyed 1,500 small and medium-sized enterprises (SMEs) to understand how the rising cost of doing business is affecting them and what strategies they can adopt to address it. The results indicate that failing to adopt a cost mitigation strategy is associated with poorer financial performance. Nevertheless, more than a quarter of SMEs—particularly those in the service sector—have not yet developed a strategy. The good news is that investing to support revenue growth is a strategy that works. This study is also based on the analysis of data published by several organizations. These data were used to analyze global economic and demographic trends as well as financial trends of Canadian SMEs. It used data from Statistics Canada, Global Affairs Canada and Innovation, Science
Pages: 34 pages
Author: Bergevin-Chammah, Carine
Categories: Economy, Finance, Global Outlook, Human Development, Microfinance, Policy / Governance, Publications, SMEs
Tags: Finance, Human Resources, Microfinance, Policies, SMEs