Businesses Are Optimistic

While businesses have been forced to adapt to lockdown restrictions and supply chain disruptions, 72 per cent of Canadian businesses are optimistic about their prospects over the next year, says a survey by American Express Canada. "Canadian businesses have plans to grow in 2021 and that is going to boost the health of the Canadian and global economies," says Paul Roman, vice-president and general manager for global commercial payments at American Express. "While it is important to recognize that the operating landscape has changed dramatically, overall spending levels suggest that recovery is evident for businesses." Additionally, the survey says 38 per cent of Canadian businesses find flexible payment terms are important when choosing their network of suppliers as 20 per cent have simplified their network of suppliers and 30 per cent have looked for lower-cost items and suppliers.