Largely sheltered from the global recession, 69% of small- and medium-sized enterprises in Canada say they have no plans to ever enter global markets, according to new data released Monday.
The Angus Reid poll, commissioned by UPS Canada, surveyed owners of Canadian SMEs whose reluctance to pursue export markets may have insulated them from some of the harsher effects of the recent recession.
Sixty-three per cent of SMEs say foreign competition has had no impact at all on their business, 54% say they have been unaffected by the rising loonie and 69% say they have not had to alter their strategy to account for the rising cost of fuel.
"While that may seem like a benefit at the moment, many of these businesses are limiting their growth potential and setting themselves up for competitive disadvantage in the long term," says Mike Tierney, president of UPS Canada.
The poll suggests small- and medium-sized businesses may feel left behind by the federal government's investment in export-oriented areas, with 57% saying the government's decisions in this area focus on benefitting large corporations.
However, owners of SMEs are divided on where the government should invest to drive exports: 39% say new or computer technology, 35% say clean/green technology, 31% say natural resources, 30% say post-secondary education and training and 21% say traditional manufacturing (respondents could pick more than one).
While SMEs are wary of entering global markets themselves, they increasingly believe Canadian exporters must diversify their export markets beyond the United States: 85% are concerned about the country's rising national debt and 60% say exporters should seek other options immediately.
The poll surveyed 546 randomly selected Canadian adults who own small- to medium-sized enterprise and are Angus Reid Forum panellists. The margin of error is plus or minus 4.19%.
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