The Bank of Canada’s Business Leader’s Pulse survey was released today, showing another decrease in positive responses to the question ‘How would you rate current business conditions for your firm?’.
With the lingering after-shocks of Covid, persistent supply chain challenges, markets tanking, and inflation spooking just about everybody…is it any wonder that business leaders are less optimistic about business conditions?
The real question is – ‘So what are you going to do about it?’
While inflation expectations seem to be tempered somewhat, there’s little doubt that things are pretty tough right now.
In conditions like this, trimming inventories makes good sense, as does leaning-into collections of those receivables that have been outstanding for just a little too long. Look for ways to drive revenue and trim expenses: consider passing along credit card fees to customers (now that this is acceptable).
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