A new report by the Business Development Bank of Canada (BDC) says small- and mid-sized businesses in Canada are expected to increase their investments by 3% this year to $140.5 billion.
BDC says the increase is due largely to a surge in business acquisition plans.
It says business owners expect to increase their spending on acquiring other businesses this year to $18.9 billion, up from $10.6 billion in 2017.
Sustaining growth was the top-cited reason for investing, followed by boosting the value of the business and keeping pace with the competition, the report says.
The technology sector saw the highest growth in investment intentions, followed by the services sector. Plans for the manufacturing were flat and a decline was expected in the construction and resources sector.
BDC’s annual study of investment intentions is based on a survey conducted last August and September that included 4,019 business owners