First
Edition of the FP500/Forum Research Business Barometer Launches
Toronto, January
17th—In a collaboration with the FP500 and Financial Post, Forum
Research surveyed 48 executives randomly selected from amongst the members of
the FP500, on subjects as diverse as confidence in the economy, the #MeToo
movement, the legalization of cannabis, and more.
Confidence
in the economy is split
About half
(TOP2: 50%) say they have confidence in the current state of Canada's economy,
but only about 1 in 10 (8%) are very confident.
Half (BTM2:
50%) said they were not confident in the current state of Canada's economy, but
only about 1 in 10 (10%) have no confidence at all.
Despite contentious negotiations, USA
still seen as a reliable trading partner
Almost
three-quarters (TOP2: 70%) see the United States as a reliable trading partner,
with a quarter (27%) saying it is very reliable.
One
fifth (BTM2: 20%) say the United States is not a reliable trade partner right
now.
1 in
10 (9%) said the question was not applicable to them.
Mixed Opinions on the effect of the
USMCA on the economy
4 in
10 (TOP2: 39%) said the effect would be positive, while a similar proportion
(BTM2: 36%) said the effect will be negative.
A
few (5%) said they do not know.
No mixed opinion on which deal was
better for Canada
Half
(52%) say NAFTA was better for the Canadian economy. About a third (30%) said
both USMCA and NAFTA are about the same, but few (5%) said USMCA is better.
About
one-sixth (14%) said they were not sure.
Two-thirds say a tri-lateral deal is
better than separate bi-lateral ones
Two-thirds
(66%) say that a tri-lateral trade agreement with both the United States and
Mexico is better than separate (20%) bi-lateral trade agreements with the two
countries.
One-sixth
(14%) said they didn't know.
The uncertainty of negotiations didn't
force many to look beyond US
When
asked if the uncertainty of the NAFTA negotiations made your business look for
trade opportunities outside the US, only one-quarter (23%) said yes.
Three-quarters
(77%) said no.
US business unchanged for about half
Half
(52%) said their business with the US has stayed the same over the past six
months, while about one-fifth (18%) said it grew.
About
1 in 10 (11%) said it contracted.
One-fifth
(18%) preferred not to say.
Optimism about business prospects over
the next six months
4 in
10 (41%) say they expect their business to grow over the next six months, while
a similar proportion (43%) expect their business to stay the same.
About
one-sixth (14%) say they expect their business will contract, while few (2%)
chose not to say.
Emerging technologies such as artificial
intelligence and automation seen as disruptive
Almost
three-quarters (BTM2: 71%) see emerging technology as disruptive to their
business, with a third (31%) saying it is very disruptive.
A
quarter (TOP2: 25%) does not consider it disruptive.
A
few (4%) said they do not know.
Half concerned emerging technologies
such as artificial intelligence and automation will change the economy
About
half (BTM2: 56%) are concerned, with about one-fifth (19%) saying they are very
concerned.
4 in
10 (TOP2: 44%) say they are not concerned.
Emerging technologies will be useful to
most
9 in
10 (TOP2: 90%) say that emerging technologies such as artificial intelligence
and automation will be useful in their line of business, with 4 in 10 (40%)
saying they will be very useful.
Only
1 in 10 (BTM2: 10%) say emerging technologies are not useful in their line of
business.
Most have a strategy for incorporating
emerging technologies into their line of business
9 in
10 (95%) have a strategy for incorporating emerging technologies into their
business.
A
few (5%) don't know.
The plurality says the Federal
government isn't doing enough to support businesses struggling with emerging
technologies
4 in
10 (44%) say that the government isn't doing enough to support businesses
struggling with emerging technologies such as artificial intelligence or
automation.
About
one-sixth (17%) says the Federal government is doing enough, while 1 in 10
(10%) say they are doing more than enough.
About
one-third (29%) say they do not know.
For most, the MeToo movement hasn't
caused a revision in company policy
Half
(52%) say that their policies haven't changed at all in response to the #MeToo
movement, while about 1 in 10 (13%) say their policies haven't changed a lot.
One-quarter
(27%) says their policies have changed somewhat, but few (2%) say their
policies have changed considerably.
A
few (6%) opted not to say.
Most, say the #MeToo movement hasn’t
affected opportunities for women in the workplace
Half
(54%) say that the movement hasn’t had an effect on workplace opportunities for
women, while about one-sixth (TOP2: 17%) say that it’s encouraged more
opportunities.
1 in
10 (BTM2: 10%) say it’s created fewer opportunities.
One-fifth
(19%) say they don’t know.
Vast majority has policies related to
cannabis in the workplace
9 in
10 (90%) said their company currently has policies related to cannabis in the
workplace. About 1 in 10 (8%) say no, and few (2%) said they do not know.
Cannabis not likely to impact employee
conduct policies
A
quarter (27%) said that the legalization of cannabis will have no impact at all
on employee conduct policies, with a similar proportion (29%) saying it won’t
have a strong impact.
About
a third (33%) said legalized cannabis will have some impact.
1 in
10 (8%) said it will have a strong impact on employee conduct policies.
A
few (2%) said they were not sure.
“Confidence in the
economy is divided, amongst business leaders,” said Dr. Lorne Bozinoff,
President of Forum Research. “Half are confident, but half are not; however,
the plurality expects their business to grow over the next six months, and a
similar proportion expects business to remain the same.”
Lorne Bozinoff,
Ph.D. is the president and founder of Forum Research. He can be reached at
lbozinoff@forumresearch.com or at (416) 960-9603.
