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Canadian small businesses show resilience amid economic challenges: CIBC Poll
Canadian small businesses show resilience amid economic challenges: CIBC Poll Canada Ne...
About this update from Canadian Imperial Bank Of Commerce
[{"type":"text","content":"\n\n\n\n Canadian small businesses show resilience amid economic challenges: CIBC Poll\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n Survey highlights optimism over the long-term, while near-term worries remain\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n July 29, 2025\n \n\n /CNW/ - A new CIBC poll finds that a majority of Canadian small business leaders are cautiously optimistic about the current and future state of their businesses, with\n \n 71%\n \n saying they are currently doing great or 'okay', and a further\n \n 78%\n \n expressing optimism about the longer-term future of their business amidst a challenging economic landscape.\n \n\n\n\n\n\n\n\n\n \"Canadian small businesses are the backbone of our economy and their resilience in the face of ongoing uncertainty demonstrates remarkable determination, adaptability, and commitment to their ambitions,\" said\n \n Andrew Antoniadis\n \n , Senior Vice-President, Business Banking and Cash Management, CIBC. \"By building a strong financial foundation, small businesses are better equipped to navigate short-term challenges, while also achieving long-term success.\"\n \n\n\n Small business leaders determined to grow their businesses\n \n\n\n Most small business owners or leaders\n \n (75%)\n \n have ambitions to implement new strategies and spur business growth in the next year. These plans include growth strategies\n \n (58%)\n \n such as plans to expand into new markets (including digital), offer new services or products, partner with other organizations, and capitalize on 'buy local' sentiment. Managing costs\n \n (43%)\n \n is the second most frequently mentioned type of change, including cutting costs and streamlining operations.\n \n\n\n Despite optimism, near-term worries remain\n \n\n\n Although most small business leaders are optimistic in the long-term, over half of respondents\n \n (56%)\n \n expressed immediate concerns regarding the potential impact of shifting trade dynamics on their business's supplier or vendor relationships, highlighting anxieti...