Worker Scarcity in Canada and What Businesses Can Do to Respond
Almost 40% of Canadian entrepreneurs are already having difficulty finding the workers they need. And there’s no relief in sight for at least a decade.
As a result, some companies are unable to fill customer orders or even have to refuse them. Quality is suffering and competitiveness is declining.
BDC surveyed more than 1,200 entrepreneurs about how a worker shortage is impacting their business. We found affected firms are 65% more likely to be low-growth businesses.
Financial ratios are a way to evaluate the performance of your business and identify potential problems. Each ratio informs you about factors such as the earning power, solvency, efficiency and debt load of your business.
Is your business in your head? Are you trying to convince lenders, investors and shareholders that you have a credible company? A business plan is a recognized management tool that outlines exactly what your company will do and how it plans to succeed.
An experienced business advisor can help you improve your skills, facilitate your decision-making and support you in your quest to take your business to the next level.
Financial planning can help you keep your business growing profitably. It also increases your ability to foresee and plan for potential problems, and to adapt to any changes that may arise.
As a young entrepreneur between 19 and 35, you have what it takes to be successful: motivation, dedication, energy, inspiration, and innovation. BDC encourages your efforts with specialized financing and management consulting solutions. Each year, BDC highlights the outstanding achievements of young Canadian entrepreneurs at the Young Entrepreneur Awards.
As a professional, you want to help all your clients grow their businesses and meet their goals. At Business Development Bank of Canada (BDBC), we share that objective. By working together, we can provide your clients even more options.
At Business Development Bank of Canada (BDBC) we're ready to meet your specific needs. Whatever the scenario, our consultants will work closely with you to find the right solution.
As part of our national program, we are looking for 20 Aboriginal (First Nation, Métis and Inuit) students at the college and/or university level who are interested in a future career with Business Development Bank of Canada. The program is designed to provide business experience through training and mentorship. The objective will be to select candidates that may qualify for permanent employment as customer service officers or account managers with BDC once they have completed their education and are looking for full-time employment.
