A new poll of small Canadian businesses suggests a majority are optimistic about their prospects for success and many plan on expansion, despite a challenging economic climate.
The survey commissioned by CIBC finds that 85 per cent of small-business owners are optimistic about the future success of their company. And nearly half - 43 per cent - say they plan to expand their business within the next three years.
The poll by Leger Marketing finds nearly six-in-ten business owners in the start-up phase plan on expanding. That's nearly double the number of established business owners who say they plan on growing.
The 801 respondents surveyed between July 3 and July 12 did not appear to be ignoring the current economic climate - with economic uncertainty topping the list of obstacles they said they needed to overcome.
The poll also suggests that those small-business owners who have expanded in the past, access to financing and fluctuations in cash flow ranked among their biggest concerns.
The poll has a margin of error of plus or minus 3.46 per cent, 19 times out of 20.