Small business owners offer some hope for hiring and revenue growth despite recession

New indicators show small business owners in Canada remain concerned about the deteriorating economy.

Data released this week from the Small Business Research Board shows that business owners anticipate economic decline in the near term and over half of survey respondents cite economic conditions as their chief concern.

But amid the dreary economic news, some responses to the SBRB survey show prospects for employment and even growth in the small business sector.

According to the SBRB results, 68 percent of business owners in Canada anticipate an increase or maintenance of current hiring practices compared to just 18 percent planning to downsize.

A number of industry experts and entrepreneurs uphold the theory that a recession is an optimal time to start a small business or expand.

To that end, 46 percent of SBRB respondents say they anticipate an increase in revenue.

One executive involved in conducting the survey notes that Canadian business respondents anticipate a recovery only after the U.S. economy begins to trend upward.

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