Businesses also envision increased revenue, planning for productivity improvements says SBRB report prepared in conjunction with Integrated Business Analysis

TORONTO (Business Wire EON/PRWEB ) June 8, 2007 -- Owners and managers of small businesses in Canada are expecting business conditions to remain the same or improve during the next 12 months, according to results of the Small Business Research Board (SBRB) poll released today completed in conjunction with Integrated Business Analysis (IBA).

We are not surprised at the SBRB tabulations which show that finding quality employees is among the most critical issues affecting small businesses. The research clearly demonstrates, however, that owners and managers are committed to providing education and training to current staff in lieu of or in concert with searching outside their walls to meet current and future needs

The majority of respondents (85%) to the first SBRB poll of businesses in Canada believe the economy will remain the same or improve, with nearly half of those (42% overall) expecting the economy to get better.

Furthermore, 94% of the respondents predict their revenue will remain the same or increase during this period, with 19% projecting an increase of up to 10% and 35% expecting revenues to grow by more than 10%. Only 6% said they are forecasting lower revenues during the coming 12 months.

Concurrently, the majority of the businesses (52%) intend to grow without adding staff, intending instead to focus on methods for improving productivity. According to the SBRB, 36% said they will add employees, 5% said they will decrease the workforce and 6% remain undecided.

Business owners and managers reported that they will invest more towards improving staff training than in adding staff.

“We are not surprised at the SBRB tabulations which show that finding quality employees is among the most critical issues affecting small businesses. The research clearly demonstrates, however, that owners and managers are committed to providing education and training to current staff in lieu of or in concert with searching outside their walls to meet current and future needs,” said Gregg M. Steinberg, President of IBA.

Finding quality employees was the third greatest issue impacting small businesses in Canada following “taxes” and “economic conditions” respectively.

A full one-third of the businesses (34%) intend to expand during the next 12 to 24 months. They expect to provide more services (22%), expand at current locations (20%), enhance customer service (19%) and add new products (18%). Only 14% said they will expand by adding locations.

This is the first nationwide SBRB Canadian study. It will be updated quarterly, similar to the studies that have been conducted quarterly studies in the U. S. since 2004.

IBA is based in Toronto. IBA, along with its affiliate companies, have more than 1,800 professionals and comprises the largest privately-held provider of management consulting services to small and medium-size businesses in North America.

The Small Business Research Board ascertains and reports the opinions of small business owners and managers. The SBRB conducts these studies for the benefit of small business owners and managers. The SBRB also provides opportunities for third parties to gain real time insight into the attitudes of small businesses nationwide through the independently conducted research.

The universe of participants is developed from among small businesses across Canada. More than 170 small business owners and senior managers participated in this voluntary SBRB poll.

The latest information about the Small Business Research Board can be found at www.biznus.net/iba.

Integrated Business Analysis, Inc. (IBA) along with affiliate companies is the largest privately-held provider of management consulting services to small and medium-size businesses in North America. The more than 1,800 professionals in North America offer a wide range of proven and innovative methodologies to help businesses grow and prosper regardless of the economic cycle. IBA either provides directly or through its affiliated companies a comprehensive array of business advisory services, tax and estate planning services or merger, acquisition and other financial advisory services in Canada and the United States.

Canada SBRB / Integrated Business Analysis June 2007 Outlook

Outlook for the general economy during the next 12 months
  Better                              42%
  Worse                               15%
  No Change                           43%

Revenue expectations for next 12 months
  Increase of 10% or more             35%
  Increase of less than 10%           19%
  Will be about the same              40%
  Decrease of less than 10%            2%
  Decrease of 10% or more              4%

Expect to hire new employees during next 12 months
  Increase hiring                     36.3%
  Decrease workforce                   5.4%
  Remain the same                     52.3%
  Unsure                               6%

Issues having greatest impact on business
 1.      Taxes
 2.      Economic conditions
 3.      Finding quality employees
 4.      Cost of materials
 5.      Interest Rates

Plan to expand business next 12 to 24 months
         Yes   34%
         No    66%

Of those planning expansion
 1.      22% will provide more services
 2.      20% will expand at current locations
 3.      19% will enhance customer service
 4.      18% will add new products
 5.      14% will add locations

Plans for improving productivity
 1.      Improve staff training
 2.      Add staff
 T-3.    Add automation or technology
 T-3.    Improve existing automated systems
 5.      Implement or enhance employee incentive programs

Copyright 2007 Small Business Research Board (SBRB)

Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/UGlnZy1TaW5nLUhvcnItU2luZy1UaGlyLVplcm8=

business small canada research board during study owners according months

Bookmark -  Del.icio.us | Digg | Furl It | Spurl | RawSugar | Simpy | Shadows | Blink It | My Web