More small business owners planning to hire

29 per cent confident they will bring on new employees: Survey
||Last Updated: 10/17/2012

More Canadian small business owners plan to hire this year than last, according to the 2012 RBC Small Business Survey.

Almost three-in-10 (29 per cent) are confident they will be adding new (full- or part-time) employees within the next 12 months, up from 25 per cent in 2011. Optimistic about the future success of their business, 68 per cent of entrepreneurs plan to invest in their businesses within the next two years.

However, 32 per cent business owners with five to 25 employees say finding qualified help will be one of their top challenges over the next year, found the survey of 1,004 business owners.

Key areas of small business investment in the next two years include:

•new equipment (35 per cent)

•new technology (29 per cent)

•new products and services (27 per cent)

•hiring new employees (17 per cent)

•employee training (17 per cent).

"Almost a quarter of Canadian entrepreneurs (23 per cent) expect to continue growing the size of their business,” said Mike Michell, national director of small business at RBC. “Many may see this as a good time to take advantage of low interest rates and perhaps purchase new equipment in USD or other currencies that have lost ground to our Canadian dollar."

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