Québec businesses are slightly more optimistic about their survival in the coming year
Notice of release
Québec, June 20, 2022. – The Institut de la statistique du Québec released today an analysis entitled Situation et attentes des entreprises du Québec pour le premier trimestre de 2022, which helps understand the situation and expectations of businesses regarding the labour and supply chain obstacles they are facing, their profitability, their operating expenses, the sale price of the goods and services they offer, and their number of employees.
Overall, businesses are slightly more optimistic about their survival in the coming year (81.1%) than in the previous quarter (78.7%).
The cash flow status of Québec businesses is more or less stable, but their debt capacity has deteriorated slightly compared to the previous quarter.
The main obstacles identified in the previous quarters are still present:
- Labour shortage
- Difficulty recruiting skilled employees
- Difficulty retaining skilled employees
- Rising cost of inputs
- Difficulty acquiring inputs, products or supplies
- Difficulty maintaining inventory levels
- Transportation costs
To overcome labour-related obstacles, Québec businesses are mainly considering increasing wages and offering their employees flexible hours.
To overcome supply chain-related obstacles, Québec businesses are focusing in the short term on monitoring shortages, delays or disruptions of essential inputs, products and supplies. In the coming year, they plan on partnering with new suppliers.
The expectations of Québec businesses are more or less identical to those expressed in the previous quarter:
- 78% expect to retain the same number of employees
- 58% do not anticipate any changes in profitability
- 44% anticipate the same number of job vacancies
- 43% expect their operating expenses to increase
- 41% expect to raise their sale prices
The analysis produced by the Institut de la statistique du Québec is based on Québec data from the Canadian Survey on Business Conditions, first quarter 2022 carried out by Statistics Canada from January 4 to February 7, 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 2,497 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.
Information and Documentation Centre
or 1-800-463-4090 (toll-free in Canada and the United States)