MONTREAL — A new report says rising costs will likely remain a key concern for businesses.
The study by the Business Development Bank of Canada says 75 per cent of businesses say rising costs have affected their business.
And, it says, while some input prices have and will come down, the price of energy is expected to remain elevated as extreme weather affects electricity output, increased demand continues to wait for new investments, and geopolitical situations keep gas prices high.
The report also says another key trend will be how businesses adapt to zoomers, those born between 1997 and 2012.
It says the cohort is significantly more likely to pay extra for environmentally friendly clothes, shoes, and accessories compared with other generations.
Other key trends shaping the future for businesses identified by the report were labour shortages and the rapid pace of technological change.
This report by The Canadian Press was first published Oct. 21, 2024.
The Canadian Press