Notice of release
Québec, October 25, 2022. – The Institut de la statistique du Québec released today an analysis entitled Situation et attentes des entreprises du Québec, troisième trimestre de 2022, which allows us to understand the situation and expectations of businesses regarding the obstacles to overcome, the solutions considered, profitability, the selling price of the goods and services offered, the number of employees, and new practices (particularly in terms of the environment and working conditions).
Highlights
Overall, more than three quarters (78.0%) of businesses are optimistic about the next 12 months. Most of them (74.6%) expect their sales to grow in the next three years.
However, the list of obstacles to overcome is getting longer:
- Rising inflation (the most frequently reported obstacle)
- Labour, input cost or supply chain obstacles (still present, but reported by slightly fewer businesses)
- New concerns that have emerged in the third quarter:
- Rising interest rates and debt costs
- Rising real estate, rental or property tax costs
Despite continued difficulties in recruiting and retaining staff compared to the previous 12 months, few businesses (8.9%) are considering using technology to reduce hiring.
As in the previous quarter, to overcome supply chain obstacles, businesses are thinking primarily of:
- Partnering with new suppliers
- Replacing inputs, products or supplies with other inputs, products or supplies
- Working with suppliers to increase distribution speed in the coming year
With these many ongoing challenges, a large number of businesses (57.6%) will be unable to meet greater demand for products and services in the next three months.
Lastly, the survey shows that Québec businesses are increasingly adopting new practices, either to help protect the environment or to improve their employees’ working conditions. Several businesses are also considering maintaining over the long term certain practices initiated in response to the COVID-19 pandemic.
The analysis produced by the Institut de la statistique du Québec is based on Québec data from the Canadian Survey on Business Conditions, third quarter 2022 carried out by Statistics Canada from July 4 to August 8, 2022. This edition of the survey is based on a probabilistic approach and only covers businesses with employees. For Québec, the results are based on the responses of 2,445 businesses.
The Institut de la statistique du Québec produces, analyzes and disseminates official, objective and quality statistical information on various aspects of Québec society. It is responsible for conducting all statistical surveys of general interest. The relevance of its work makes it a strategic ally for decision makers and all those wishing to learn more about Québec.