CIBC poll shows 75% plan new strategies while 56% worry about trade disruptions
Three out of four Canadian small business leaders plan to introduce new strategies to spur growth in the coming year, according to a new CIBC poll that highlights both resilience and risk awareness in today’s economic climate.
Of those looking to grow, 58 percent are targeting initiatives such as expanding into new or digital markets, launching new products or services, building partnerships, and tapping into “buy local” momentum.
Another 43 percent say they will focus on managing costs through measures like streamlining operations and reducing expenses.
This strong forward-looking sentiment aligns with broader optimism: 78 percent of respondents said they feel positive about the long-term future of their businesses, while 71 percent described their current business performance as either doing great or “okay.”
Yet short-term anxieties remain.
Over half (56 percent) voiced concern about how shifting trade dynamics—particularly with the US—could affect their vendor or supplier relationships.
These trade-related worries are feeding into broader stress around supply chains and sourcing.
Respondents identified their top three challenges as business viability and growth (56 percent), financial management (55 percent), and operational issues (31 percent).
Within those, concerns ranged from attracting customers and rising competition to managing cash flow, higher costs, and potential interest rate increases.
On the operations side, implementing new technologies and handling inventory were also noted.
In response to uncertainty, small business leaders are focusing on internal stability.
About 26 percent are exploring cost-saving strategies and building cash reserves, while 25 percent are leveraging the “Canadian-made” label to support domestic appeal.
More than half (55 percent) expressed confidence that “buy local” trends will strengthen their position.
“Canadian small businesses are the backbone of our economy and their resilience in the face of ongoing uncertainty demonstrates remarkable determination, adaptability, and commitment to their ambitions,” said Andrew Antoniadis, senior vice-president of Business Banking and Cash Management at CIBC.
