(http://www.ivey.ca/)
The Ivey Entrepreneurs Index found 84% of those surveyed are planning
to expand their workforce over the next 12 months, showing steady
optimism about their business. The survey demonstrates a healthy
increase in confidence in the Canadian economy from the previous
survey in Fall 2011 with 78% feeling the economy will grow, up from
65%.
The index found 91% of entrepreneurs expect their revenues to grow,
and 88% believe their profits will also grow over the period of the
next 12 months. However, there was a decline in the number of
entrepreneurs who expected to seek external capital.
"Canadian entrepreneurs have shown a slow but steady increase in their
hiring intentions over the past two years in spite of a rocky economic
climate. While we did see a strong rebound in overall feelings about
the economy from the last survey, their confidence is still not up to
the levels we saw one-year ago. However, the vast majority of high
growth entrepreneurs believe their revenues will increase and are
confident about their core business potential," said Stewart
Thornhill, Executive Director, Pierre L. Morrissette Institute for
Entrepreneurship, at the Richard Ivey School of Business.
"Expectations for growth aside, one of the top issues keeping business
owners awake at night is related to attracting and retaining the very
top talent to their company - and that's no easy feat," explained
Dennis Fortnum, Canadian Managing Partner for KPMG Enterprise.
"Business owners recognize the more talent on the team, the greater
the competitive edge - and in today's economy everyone is looking for
that edge. As the nature of the workforce changes, from an industrial
worker to a service worker, to a knowledge worker, the leadership
paradigms had to shift from command and control to participatory and
collaborating leadership that engages all members of the organization
to help the business grow and thrive. QuantumShift Fellows recognize
the importance of this and its connection to future long term growth."
"We see modest growth this year and we will achieve that by focusing
and leveraging our specialized or niche products and divisions," said
Elaine Gerrie, Co-President and CEO for Gerrie Electric Wholesale Ltd.
"We will grow through increasing market share in our traditional
business."
This is the fourth release of the semi-annual Ivey Entrepreneurs
Index. For a detailed breakdown of the survey results please click
here(http://www.iveyentrepreneur.ca/index.php/research/entrepreneurs_index/).
The Ivey Entrepreneurs Index is based on a short survey of five
questions distributed to Fellows of QuantumShift™. Entrepreneurs are
asked what they expect will happen in their private companies over the
next 12 months, covering their outlook for the Canadian economy in
general as well as prospects around revenue, profits, hiring, and
borrowing.
The survey was distributed to 368 entrepreneurs whose companies have
average revenue of approximately $75 million with an average of
approximately 350 employees. Their businesses have achieved 31 per
cent average growth annually. The entrepreneurs surveyed are graduates
of QuantumShift™. Co-founded by Richard Ivey School of Business and
KPMG Enterprise, each year QuantumShift brings together 50 top
Canadian entrepreneurs for a week-long leadership and executive
development program.
About the Richard Ivey School of Business, Western University
The Richard Ivey School of Business at Western University is Canada's
leading provider of relevant, innovative and comprehensive business
education. Drawing on extensive research and business experience, Ivey
faculty provide the best classroom experience, equipping graduates
with the skills and capabilities they need to tackle the leadership
challenges in today's complex business world. Ivey offers
world-renowned undergraduate and graduate degree programs as well as
Executive Development at campuses in London (Ontario), Toronto and
Hong Kong(http://www.ivey.com.hk/). Visit
www.ivey.ca(http://www.ivey.ca/).
About KPMG Enterprise
KPMG Enterprise™ is a network of professionals devoted exclusively to
helping business owners and entrepreneurs build value and grow
thriving enterprises in Canada. Why is that important for business
owners and entrepreneurs? Based on their understanding and experience
of what private companies face every day, KPMG Enterprise business
advisers can provide proactive and effective advice about financial,
business, and operational challenges, ultimately helping owners and
entrepreneurs build value in their businesses and grow successful
private enterprises. Visit
kpmg.ca/enterprise(http://www.kpmg.com/ca/en/whatwedo/kpmg-enterprise/pages/kpmg-enterprise-your-private-company-adviser.aspx).
About QuantumShift
QuantumShift™ is an intense and exclusive leadership development
program for Canada's most promising entrepreneurs, co-founded by the
Richard Ivey School of Business and KPMG Enterprise in 2004. The
program brings an elite group of 50 entrepreneurs together annually
for a rigorous five-day developmental experience at the Ivey Business
School in London, Ontario. Admission to QuantumShift is by invitation
only selected from amongst hundreds of nominations annually. The
curriculum explores topics that matter to high growth entrepreneurs.
For further information about the program and its Fellows, visit
kpmg.ca/quantumshift. Nominations for QuantumShift 2013 close December
7th, 2012. To nominate an entrepreneur, contact Donna Trifunovic at
416 228 7142.
