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CPABC Business Outlook Survey
2015
Characteristics & Demographics
• 3,569BC CPAs responded, a 15% response rate.
• 61% of respondentslivein SouthwestBC; 14% live in the Vancouver
Island/Coast region; and 13% live outside of BC.
• Close to half of all respondentswork in “Industry”;one-third work
in “Public Practice,”; another 25% work in “Other” sectors.
• Top three roles CPAs hold within their organizations: ‘Senior
management’ (20%), ‘Middle management’ (19%), and
‘Principal/Owner/Partner’ (18%).
• The maximummarginof error for the total population (n=2,423) is
± 1.9%, 19 times out of 20. Survey results were not weighted.
BC Development Regions
Economic Outlook
Over the next two years…
• 77% of CPAs think BC’s economy willstay the sameor
improve.
• 62% of CPAs think BC’s economy willgrow at the same
pace,or fasterthan the Canadian average.
• Looking at global economies, the majority of CPAs see
stability or modest growth over the next two years.
Base:All Respondents,n=3,659
Challenges to Business Success
73% of CPAs think the ability to attract &retain skilled labour is the most
substantial challenge to business success in BCtoday.
• Of those who find this the biggest challenge, high costs of living,low
wages,and high housingcosts were identified as key contributing
factors.
Base: Thosewho rated labour as a major challenge,Total n=1,097
Challenges to Business Success
The top economic issue challenging business success in BCtoday is housing prices.
• 78% of CPAs ranked BC’s “housing prices” as the top economic issue
impacting business success.
• CPAsin the Lower Mainlandare most likely to rank “housing prices”
(83%)and “foreign ownership of properties” (57%)as economic issues.
• CPAs ranked “Commodity prices” as the second most challenging
economic issue(74%), followed by “the current value of the CAD vs.
USD” (72%), and the “Canadian economic climate” (69%).
Base:All Respondents,n=3,659
Municipal governments’ performance in creatinga good climate for
business and investment in BCis weak.
Government Performance
13%
13%
21%
45%
41%
42%
30%
34%
24%
9%
8%
11%
Federal
Provincial
Municipal
Poor Fair Good Excellent Unsure
26%
38%
33%
Base:All Respondents,n=3,659
Provincial Government Priorities
to Improve BC’s Economy
1. Improve regional economic
development
2. Reduce government red tape
3. Greater municipal fiscal
responsibility
Base:All Respondents,n=3,659
• More than half of CPAs predict their businesswill staythe
same,while four-in-ten expect expansion over the next
two years.
• Three-in-ten CPAs indicate their organization has
investmentplanscurrentlyon hold. This is mostly due to
economic concerns (80%).
Business Outlook
Nearly half of CPAs (47%) indicate that increasing theprovincial tax rate would
impact their company’s or their clients’ business investment plan.
Base:All Respondents,n=3,659
• To help businessesovercomechallenges,governmentcan: provide
more financial support such as grants, incentives, SR&ED claims,
funding or tax credits ; reduce government involvement and red tape;
reduce regulations; and stimulate the economy.
• Investmentin technologyis the #1 thing that can or should be
leveraged to stimulate economic growth.
C-Suite Perspectives
Thebiggest obstacle facing their businesses is finding qualified employees,
followed by the ability to raise capital.
Base:C-Suite respondents,n=381
Formore information,contact:
Vivian Tse
Public Affairs Specialist
vtse@bccpa.ca
604.488.2647

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CPABC Business Outlook Survey

  • 2. Characteristics & Demographics • 3,569BC CPAs responded, a 15% response rate. • 61% of respondentslivein SouthwestBC; 14% live in the Vancouver Island/Coast region; and 13% live outside of BC. • Close to half of all respondentswork in “Industry”;one-third work in “Public Practice,”; another 25% work in “Other” sectors. • Top three roles CPAs hold within their organizations: ‘Senior management’ (20%), ‘Middle management’ (19%), and ‘Principal/Owner/Partner’ (18%). • The maximummarginof error for the total population (n=2,423) is ± 1.9%, 19 times out of 20. Survey results were not weighted. BC Development Regions
  • 3. Economic Outlook Over the next two years… • 77% of CPAs think BC’s economy willstay the sameor improve. • 62% of CPAs think BC’s economy willgrow at the same pace,or fasterthan the Canadian average. • Looking at global economies, the majority of CPAs see stability or modest growth over the next two years. Base:All Respondents,n=3,659
  • 4. Challenges to Business Success 73% of CPAs think the ability to attract &retain skilled labour is the most substantial challenge to business success in BCtoday. • Of those who find this the biggest challenge, high costs of living,low wages,and high housingcosts were identified as key contributing factors. Base: Thosewho rated labour as a major challenge,Total n=1,097
  • 5. Challenges to Business Success The top economic issue challenging business success in BCtoday is housing prices. • 78% of CPAs ranked BC’s “housing prices” as the top economic issue impacting business success. • CPAsin the Lower Mainlandare most likely to rank “housing prices” (83%)and “foreign ownership of properties” (57%)as economic issues. • CPAs ranked “Commodity prices” as the second most challenging economic issue(74%), followed by “the current value of the CAD vs. USD” (72%), and the “Canadian economic climate” (69%). Base:All Respondents,n=3,659
  • 6. Municipal governments’ performance in creatinga good climate for business and investment in BCis weak. Government Performance 13% 13% 21% 45% 41% 42% 30% 34% 24% 9% 8% 11% Federal Provincial Municipal Poor Fair Good Excellent Unsure 26% 38% 33% Base:All Respondents,n=3,659
  • 7. Provincial Government Priorities to Improve BC’s Economy 1. Improve regional economic development 2. Reduce government red tape 3. Greater municipal fiscal responsibility Base:All Respondents,n=3,659
  • 8. • More than half of CPAs predict their businesswill staythe same,while four-in-ten expect expansion over the next two years. • Three-in-ten CPAs indicate their organization has investmentplanscurrentlyon hold. This is mostly due to economic concerns (80%). Business Outlook Nearly half of CPAs (47%) indicate that increasing theprovincial tax rate would impact their company’s or their clients’ business investment plan. Base:All Respondents,n=3,659
  • 9. • To help businessesovercomechallenges,governmentcan: provide more financial support such as grants, incentives, SR&ED claims, funding or tax credits ; reduce government involvement and red tape; reduce regulations; and stimulate the economy. • Investmentin technologyis the #1 thing that can or should be leveraged to stimulate economic growth. C-Suite Perspectives Thebiggest obstacle facing their businesses is finding qualified employees, followed by the ability to raise capital. Base:C-Suite respondents,n=381
  • 10. Formore information,contact: Vivian Tse Public Affairs Specialist vtse@bccpa.ca 604.488.2647