More than 40 per cent of respondents said they can't take on any more debt due to uncertain sales and rising interest rates.
Uncertain future sales were preventing around 42 per cent of surveyed businesses from taking on more debt. This percentage was 17 per cent more than three months ago. The survey was conducted by Statistics Canada in partnership with the Canadian Chamber of Commerce.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“These financial pressures come on the heels of the recent Counting the Costs report released by the Board of Trade that highlighted nearly $6.5 billion in additional government-imposed cost increases businesses will face between 2022 and 2024,” said the Board of Trade president, Bridgitte Anderson. The survey noted an improvement in supply chain challenges that emerged during the COVID-19 pandemic.
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