Scotiabank's Bond Brand Loyalty Business Banking CX Report found that 62% of surveyed small business clients are optimistic about the Canadian economy and 74% about their own business over the next 12 months, indicating improving sentiment. According to Statistics Canada, businesses with 1 to 19 employees make up more than 90% of employer businesses in Canada and employ 4.5 million people. Scotiabank's roundtables with healthcare practitioners, lawyers, accountants and franchise owners identified three priorities: building specialized expertise, using AI and digital tools for efficiency, and pursuing disciplined growth through diversification and acquisitions. The bank advises owners to bring advisors into planning early, simplify operations, and match financing with their next phase of growth.
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