The business owners in Ontario are not too positive about the growth compared to that of 2015.
A survey that was done by Leger for credit union and mortgage lender Meridian which showed that 67 per cent anticipated growth for this year, which was lower by 11 per cent compared to last year. Along with the availability of funds and fluctuations of currency being at the very top list of their worries.
They are also concerned about the real estate market and the current condition of it which seems to be unverifiable by 57 per cent of small scale business owners.
With that being said, only 12 per cent think that the impact caused by the real estate market has been negative on their business, while 20 per cent disagrees to that.
Regarding commercial real estate, 24 per cent commented that it will slow purchases because of the unstable state of the economy, the other 35 per cent said that it will be better and way cheaper to rent rather than buy a house.
The Director of Small Business for Meridian, Geordan Robertson said; “The real estate market is definitely influencing the way small businesses operate. We’re seeing some of our Members either race to purchase real estate, or liquidate some or all of their real estate holdings and turn to leasing instead. And as the results indicate, many are adopting virtual environments to cut down on capital costs,” he added.