Canadian Small Business Owners Planning Growth or Expansion

Toronto, ON - Many small businesses in Canada are poised to grow in 2010 as one in three (34%) small-business owners say they are planning on expanding or growing their business over the next six months, according to a new Ipsos Reid poll conducted on behalf of RBC. In addition, 26% of small business owners say their business is at the start-up stage.

Growth for small business often means the need for credit and 14% of small-business owners (31% of those who plan on expanding) say they will require new credit over the next six months. A further 14% are unsure of whether they will need access to new credit.

These are some of the findings of an Ipsos Reid poll conducted February 2 - 8, 2010, on behalf of RBC. For this survey, a national sample of 1,049 small business owners from Ipsos' Canadian online panel was interviewed online. Weighting was then employed to balance demographics and ensure that the sample's composition reflects that of the Canadian small business population according to Statistics Canada and other data sources, and to provide results intended to approximate the sample universe. All businesses had fewer than five employees, and annual revenue under $1 million. A survey with an unweighted probability sample of this size and a 100% response rate would have an estimated margin of error of +/-3.0 percentage points 19 times out of 20 of what the results would have been had the entire population of small business owners in Canada been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

For more information on this news release, please contact:
Sean Simpson
Research Manager
Ipsos Public Affairs
(416) 572-4474
[email protected]

About Ipsos Reid

Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.

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About Ipsos

Ipsos is a leading global survey-based market research company, owned and managed by research professionals. Ipsos helps interpret, simulate, and anticipate the needs and responses of consumers, customers, and citizens around the world.

Member companies assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media. They measure public opinion around the globe. Ipsos member companies offer expertise in advertising, customer loyalty, marketing, media, and public affairs research, as well as forecasting, modeling, and consulting. Ipsos has a full line of custom, syndicated, omnibus, panel, and online research products and services, guided by industry experts and bolstered by advanced analytics and methodologies. The company was founded in 1975 and has been publicly traded since 1999. In 2008, Ipsos generated global revenues of e979.3 million.

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