- Attracting new customers and finding skilled talent remains top issue for business owners
- Ottawa’s reputation as an innovative hub is growing
Ottawa, June 6, 2017: Businesses in the Ottawa region expressed increased confidence in the local economy, according to the 2017 Ottawa Business Growth Survey from the Ottawa Chamber of Commerce, Welch LLP, Abacus Data and the Ottawa Business Journal.
Led by the construction, retail and consulting sectors the Ottawa Business Confidence Index was up 125.0 points from 124.0 points in May 2016. The construction industry is buoyed by building and infrastructure efforts leading up to Canada 150.
Despite the overall positive economic outlook, business leaders expressed concerns about issues central to operations. 82 per cent of respondents identified attracting new customers as the top issue for Ottawa businesses, followed by finding a skilled workforce at 68 per cent and attracting business to Ottawa at 62 per cent.
“2017 is a big year for Canada, and for our city as we set the stage and pace for Ottawa’s future” said Ian Faris, President and CEO, Ottawa Chamber of Commerce. “Despite all the economic variables, it’s evident from the survey, that a majority of businesses in Ottawa are optimistic. There are challenges as identified through the findings, but working together with our vibrant economic partners, we can realize significant gains as we move forward to building a G7 Capital we can all boast about.”
Further optimism was on the horizon as 61 per cent are confident that Ottawa’s real estate prices will increase over the next 12 months compared to 44 per cent last year. In addition, Ottawa’s reputation as an innovation hub increased in 2017. Overall 36 per cent respondents felt that Ottawa is a more innovative city than others its size, up 8 points from 2016.
With Canada 150 celebrations mid-way, 40 per cent respondents expect a somewhat or very positive impact on their business.
“The Ottawa Business Growth Survey is where we get a chance to take the pulse of our city” said Micheal Burch, Managing Partner, Welch LLP. “The results of this survey allow us all to form our opinions with respect to the trends and leanings of our community going forward. This is invaluable information for anyone required to make important decisions.”
The Ottawa Business Growth Survey is the most in-depth and independent study of the local economy with a record 1000 plus businesses from multiple sectors and business sizes participating in the survey, providing a comprehensive business overview of the National Capital Region. The survey is co-presented by the Gowling WLG, Avison Young and RBC Royal Bank.
View the full survey results at: http://bit.ly/OBGS17rpt
About Ottawa Chamber of Commerce
ADVOCACY. DIALOUGE. CONNECTIONS
The Ottawa Chamber of Commerce is the Voice of Business in Ottawa, representing over 700 members and 27,000 employees from multiple industries for the past 160 years. We advocate to ensure that Ottawa attracts top talent; builds modern infrastructure that reflects the growth of our community; develops a culture of entrepreneurship and business creation for economic growth; and works to reduce cumulative regulatory burden faced by businesses.
Contact: Kenny Leon 613.236.3631 Ext. 130 Kenny.email@example.com
About Welch LLP
Welch LLP is a Chartered Professional Accounting firm that provides a full range of accounting, assurance, tax, advisory and specialty services. Welch was founded in 1918 and has over 270 staff spread among 12 offices in Ontario and Quebec. Welch offers private enterprises, government and not-for-profit organizations industry specific services and knowledge with a relationship-driven approach to client service. Welch’s consulting arm, WelchGroup Consulting specializes in building company value, selling and buying businesses, management buyouts and more.
Contact: Adriana Sgabellone 613.236.9191 Ext.156 firstname.lastname@example.org
About Abacus Data
Abacus Data is one of North America’s leading public opinion and marketing research firms bringing together the latest technology and industry expertise to help organizations effectively understand and connect with those they serve. Having conducted research for some of North America’s leading corporations and advocacy groups, they deliver global research capabilities with attention to detail and focus of a boutique firm.
Contact: Dr. David Coletto 613.232.2806 email@example.com