Canada's Productivity Puzzle: Solutions for Entrepreneurs
Productivity growth has declined in Canada since the pandemic. Average annual productivity growth dropped to 0% from 2019 to 2023, while labour costs have been increasing faster than labour productivity.
This crisis in productivity is even more dire for small and medium-sized businesses that have seen their productivity drop to 58% that of large firms.
This has important consequences for Canadian entrepreneurs. More productive firms, generate more sales, profits and are more valuable in the event of a sale. An unproductive company is leaving a lot of money on the table!
The good news is that you can take actions to curb this trend. Business investments in machinery, equipment and technology, for instance, are key drivers of productivity, but other solutions exist as well.
Learn what it means for your business by reading the study.
Discover
- Why Canada is lagging in productivity
- Productivity trends for some of the largest sectors of the Canadian economy
- How to improve productivity in your company
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