BC-Ivey Entrepreneurs Index Shows Entrepreneurs Confidence in the Ec


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


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


This is the fourth release of the semi-annual Ivey Entrepreneurs

Index. For a detailed breakdown of the survey results please click


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


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


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


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.

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