Canadian Manufacturing

SMEs say trade is key to economic growth: FedEx survey

57% believe increasing the amount of trade between Canada and other countries will help their businesses

November 15, 2019  by CMO Staff

MISSISSAUGA, Ont. — Canadian small and medium businesses (SMEs) believe economic improvement and international trade are closely linked, according to a survey conducted for FedEx Express Canada.

The survey by Morning Consult on behalf of the Canadian subsidiary of global courier FedEx Corp. shows 83% of respondents agreeing that increasing trade between Canada and other countries will improve the economy overall.

Most SMEs (57%) believe increasing the amount of trade between Canada and other countries will help their businesses, but only 37% are currently selling goods online. More (44%) American SMEs are doing business online. The poll confirms SMEs from both countries are largely focused on local customers.

81% of the companies say fees and tariffs have had a great deal or some effect on the growth of their businesses. Nearly half (48%) say that variations in fees and tariffs have been a major challenge, and 44% say that import and export fees have been a major challenge.

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The poll was conducted from Sept. 17-20, among 500 SME decision-makers in Canada. The margin of error is plus or minus four percentage points.

Both NAFTA and CUSMA (Canada-United States-Mexico Agreement) have positive support among SMEs in Canada. 90% in Canada support NAFTA. A similar amount (86%) support CUSMA.

This story was first reported on PLANT.ca


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