A new survey from the Manitoba Chambers of Commerce (MCC) shows the province’s business leaders are cautious when it comes to economic growth in 2020.
The 2019 Manitoba Business Outlook Survey, conducted by Leger Market Research, found only one in four business leaders say their organization is likely to hire more staff next year.
“Our survey results weren’t shocking, but they were revealing in that they seem to indicate a real challenge ahead regarding job creation,” Chuck Davidson, Manitoba Chambers of Commerce president and CEO, said in a release.
“Given that 40 per cent of our respondents anticipate little to no growth in revenues, and only 25 per cent of respondents envision likely adding staff in 2020, there is work to be done if we are to accomplish this job creation goal.”
The study asked 56 questions and garnered responses from 400 business leaders from across the province in small, medium and large enterprises, as well as community organizations.
When asked what the greatest challenges for companies would be in the next 12-18 months, the top response, reported by 27 per cent of respondents, was hiring and retaining qualified staff, followed by economic uncertainty/downturn at 10 per cent. Access to capital was the third greatest challenge outlined by respondents at eight per cent.
The survey also asked questions about barriers to growth, provincial government performance, climate change concerns and risk mitigation plans, interprovincial regulations, and specific actions the government should take to improve the overall Manitoba business climate.
This marks the second year the chamber has commissioned the survey.
Davidson said the results reveal there may be a challenge regarding job creation next year, on the heels of the province committing to create 40,000 new jobs in Manitoba over the next four years.