New survey shows how Canadian businesses are surviving the pandemic
TORONTO, April 27, 2021 (GLOBE NEWSWIRE) -- In the latest survey from The Business Monitor, released by Modus Research, Canadian executives were asked which measures their organization has taken to help it persevere through the pandemic, and to rate the importance of each for their organization's survival.
The top three measures taken by organizations were participation in government initiatives (such as CEBA, wage subsidies, rent and tax deferrals), followed by cost cutting measures and, finally, investing in information and communications technology. Relatively few businesses responded by building/expanding online sales or moving into new lines of business.
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Organizations that adopted these measures were then asked how important they were to their survival. Approximately half of those businesses who participated in government initiatives, cut costs or invested in technology regarded those measures as very important to their survival. Likewise, fully 50% of those building or expanding online sales regarded it as very important to survival (although fewer than a quarter of businesses adopted that measure).
For full details, please visit our website: https://modusresearch.com/pandemic_survival/
Firms that are struggling to survive are significantly more likely to participate in government support and cost cutting than more stable firms. These relatively precarious firms also rate importance of cost cutting and government support much higher than secure companies. Interestingly, they are much more critical of government support during the pandemic and especially provincial and local governments.
This survey was carried out among a representative sample of over 900 Canadian managers and executives in March 2021 using both online and mobile/text interfaces. The sample is scientific and representative of all Canadian businesses.
About The Business Monitor
The Business Monitor is Canada's B2B omnibus service. Results from The Monitor are based on scientific samples of Canadian business leaders from the Modus Business Panel ? the gold standard for B2B research in Canada.
About Modus Research
Established in 2012, Modus Research is a full-service research agency that provides clients with actionable feedback from Canadian enterprises based on scientifically representative samples. We are Canada's B2B research experts.
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