Canadian Entrepreneurs Prioritize Growth Amid Uncertainty

A new BDC survey reveals that seventy-eight percent of Canadian entrepreneurs are focusing on business expansion.

Updated on Oct. 15, 2026 in Economic Indicators

Canadian Entrepreneurs Prioritize Growth Amid Uncertainty

Live Poll

Do you believe now is a good time for a small business to prioritize aggressive expansion?

Seventy-eight percent of Canadian entrepreneurs report that business growth is their primary strategy to combat economic uncertainty. This shift follows data indicating that nearly half of small and medium-sized enterprises (SMEs) are prioritizing expansion this year.

Why it matters

Entrepreneurs are increasingly finding new customers and diversifying their product offerings to navigate a rapidly changing economic environment. This trend is driven by a widespread desire to strengthen productivity and avoid falling behind in a competitive market.

Forty-six percent of SMEs now prioritize expansion, a notable increase from 34% in 2025. Furthermore, 88% of businesses have implemented strategies to improve productivity, including the adoption of artificial intelligence.

The players

BDC

Headquartered in Montreal, this financial institution provides financing and advisory services to Canadian entrepreneurs.

The details

To counter economic pressures and new United States tariffs implemented in late August 2026, many business owners are diversifying their revenue streams. While 64% of SMEs acquired new regional customers over the past 12 months, 29% successfully expanded their reach into other parts of Canada.

Small Business Week was created in 1979.
The first wave of the BDC survey occurred from June 8 to 29, 2026.
New United States tariffs were introduced in late August 2026.
The second wave of the BDC survey took place from September 4 to 13, 2026.
BDC released the final survey results on October 15, 2026.

Macro View

This data reflects a shift compared to historical cycles, as more businesses move toward aggressive growth strategies despite rising economic uncertainty. It follows the trajectory established by the historical growth prioritization patterns in BDC Small Business Week reports, marking a departure from previous years.

The push for business growth suggests that consumers may see more diverse product options and new service availability in their local markets. For employees, this emphasis on productivity and expansion could lead to increased local hiring and new operational demands.

The takeaway

Entrepreneurs are proactively responding to economic challenges by investing in technology and expanding their customer bases. Business owners should focus on digital transformation and market diversification to remain competitive during periods of uncertainty.