More Canadian Entrepreneurs Plan to Hire: 2012 RBC Small Business Survey

More Canadian Entrepreneurs Plan to Hire: 2012 RBC Small Business Survey 
Unfazed by economic uncertainty, Canadian small business owners plan to invest 
in their businesses 
TORONTO, Oct. 17, 2012 /CNW/ - More Canadian small business owners plan to 
hire this year, according to the 2012 RBC Small Business Survey. Almost 
three-in-ten (29 per cent) are confident that they will be adding new (full or 
part-time) employees within the next 12 months, up from 25 per cent in 2011. 
Optimistic about the future success of their business, 68 per cent of 
entrepreneurs plan to invest in their businesses within the next two years. 
Another recent RBC study found that 94 per cent of Canadians believe that 
small businesses play a critical role in the growth of the economy and 88 per 
cent view them as vital job creators in their community. According to 
Statistics Canada, small businesses continue to be key sources of new jobs - 
small firms accounted for, on average, 43 per cent of all jobs created in the 
private sector between 2001 to 2011. 
"Small businesses are an important driver of the economy," said Mike Michell, 
national director, Small Business, RBC. "It's a very positive sign that, 
despite challenging times, almost three-in-ten Canadian business owners are 
telling us that they are preparing to invest in new employees." 
However, hiring new employees is not without its difficulties for 
entrepreneurs. One-in-three (32 per cent) business owners with five to 25 
employees say that finding qualified help will be one of their top challenges 
over the next year. 
Taking a longer term view, key areas of small business investment in the next 
two years identified in the RBC poll include: 

    --  new equipment (35 per cent)
    --  new technology (29 per cent)
    --  new products and services (27 per cent)
    --  hiring new employees (17 per cent)
    --  employee training (17 per cent)

"The intention to invest in their enterprises demonstrates the continued 
resiliency of Canadian small business owners," added Michell. "Almost a 
quarter of Canadian entrepreneurs (23 per cent) expect to continue growing the 
size of their business. Many may see this as a good time to take advantage of 
low interest rates and perhaps purchase new equipment in USD or other 
currencies that have lost ground to our Canadian dollar."

About RBC Small Business Banking
If you are a small business entrepreneur who is starting a business, managing 
growth, or considering succession planning, the RBC Advice Centre can help 
answer your questions. Free interactive tools and calculators provide 
customized information covering many facets of business finance. In addition, 
online advice videos are updated regularly to answer questions that are top of 
mind with small business owners. With the guidance of RBC business advisors, 
small business owners have access to free, no obligation professional advice 
about RBC products and services. For more assistance, please visit

About the RBC Ipsos Reid Small Business Survey
These are some of the findings of an RBC/Ipsos Reid survey conducted from 
August 9 to 20. This online survey of 1,004 small business owners, who were 
either self-employed or owned their own small business, was conducted via the 
Ipsos I-Say Online Panel, Ipsos Reid's national online panel. The results are 
based on a sample where quota sampling and weighting are employed to balance 
demographics and ensure that the sample's composition reflects that of the 
actual Canadian population according to Census data. Quota samples with 
weighting from the Ipsos online panel provide results that are intended to 
approximate a probability sample. An unweighted, probability sample of this 
size, with 100 per cent response rate would have an estimated margin of error 
of ±3 per cent, 19 times out of 20. Margins of error for subgroups will be 

Margie McNeil, RBC Corporate Communications, 905 606-1425 Angela Harkey, RBC 
Corporate Communications, 905 816-5650


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CO: RBC Royal Bank
ST: Ontario

-0- Oct/17/2012 11:00 GMT

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