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CPABC Business Outlook Survey

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CPABC Business Outlook Survey measures BC CPAs' perceptions of the current and future economic climates in BC, in Canada, and globally. The survey also asks members to weigh in on the challenges for business success and the performance of government in supporting BC businesses. Survey results are available at www.bccpa.ca.

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CPABC Business Outlook Survey

  1. 1. CPABC BUSINESS OUTLOOK SURVEY 2017 bccpa.ca
  2. 2. • CPAs were more optimistic about the current state of BC’s economy relative to Canada’s economy (71% positive vs. 50% positive). • During the next two years, 27% of CPAs think Canada’s economy will improve compared to 19% who think BC’s economy will improve. • Looking at global economies, the majority of CPAs see stability or modest growth over the next two years. Economic Outlook Base: All Respondents, n=2,701
  3. 3. • For the fourth year in a row, attracting and retaining skilled labour was the top challenge for business success, with 81% of respondents rating this as a major/moderate challenge. • 63% of respondents indicated that their business is experiencing recruitment challenges when finding employees with the right skills. • Political uncertainty and Government red tape (both at 67% for major/moderate challenge) were the next two leading issues for business success in BC today. BC’s Business Challenges Base: All Respondents, n=2,701
  4. 4. • Housing prices remained the top economic issue with 84% of all respondents saying this is a major/moderate challenge. Those in the Lower Mainland and on Vancouver Island were most concerned (both 85%), however respondents in other parts of BC also considered this a significant issue (79%). • The current value of CAD vs. USD (69%), global economic climate (66%), and BC economic climate (62%) rounded out the top economic challenges to business success in BC. Base: All Respondents, n=2,701 BC’s Economic Issues
  5. 5. Government Performance Base: All Respondents, n=2,701 • Overall, BC’s CPAs felt all levels of government could do a better job creating a good climate for business and investment in BC. • The federal government had the highest rating (35% positive), followed by the provincial government (32% positive), and the municipal government (27% positive). • Not surprisingly, those with a positive view of BC’s current economic performance were more likely to have a positive impression of government performance.
  6. 6. The top three government priorities identified by BC CPAs were: • Investing in infrastructure; • Increasing skills training opportunities; and • Improving regional economic development. Base: All Respondents, n=2,701 Recommendations to BC Government
  7. 7. • NRG Research Group was commissioned to conduct a web-based survey of CPABC members regarding their impressions of the current and future economic conditions in the areas in which they work, current challenges for business success, and the business climate in British Columbia. • The survey was conducted between July 31 and August 23, 2017. About the Survey
  8. 8. • 2,701 BC CPAs responded, a 14% response rate. • 67% of respondents lived in Southwest BC, while 18% lived in the Vancouver Island/Coast and 8% in the Thompson-Okanagan development regions. • 44% of all respondents worked in “Industry”; 28% worked in “Public Practice,”; 16% worked in “Government”; 6% worked for “Not-for-Profit” while another 5% worked in “Other” sectors. Characteristics & Demographics

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