With the economy recovering, it's the time for small businesses to take their companies to the next level of success. For many companies, this means investing to become more productive, more innovative and more agile in the face of increasing global competition.
This is borne out by a recent survey of Canadian entrepreneurs, commissioned by the Business Development Bank of Canada (BDC) and conducted by Angus Reid. The survey found that innovation is a priority for 74 per cent of entrepreneurs. What's more, over the next two years, entrepreneurs plan to invest to boost their company's ability to compete. Almost 60 per cent plan to purchase new equipment or machinery, while 49 per cent intend to invest in developing new products or services.
In Western Canada, entrepreneurs are even more intent on increasing their competitiveness through investment. In the past 24 months, 71 per cent of western Canadian respondents bought new equipment and machinery, while 63 per cent plan to do so over the next two years.
To read the full, original article click on this link: Investing in innovation and growth
Author: Edmee Metivier
