Skip to content
Facebook Twitter LinkedIn Youtube
occ-logo
  • Rapid tests available for small business!
  • COVID-19
    • Pandemic Preparedness Toolkit
    • Frequently Asked Questions
    • Webinars
    • Our Advocacy
    • COVID-19 Policy Brief Series
    • SME Difference Makers
    • Work From Home
    • Mental Health Resources
    • How to Protect Yourself
    • Talk To Us
    • #DifferenceMakers
  • Advocacy
    • Housing Affordability Initiative
    • Blueprint To Bolster Ontario’s Prosperity
    • COVID-19 Policy Brief Series
    • Ontario Climate Action Series
    • Ontario Economic Report
    • Our Publications
    • Vote Prosperity
  • Councils
  • Events
    • Advocacy Day
    • Annual General Meeting
    • Ontario Business Advisory Council
    • Ontario Business Achievement Awards
    • Ontario Economic Summit
  • Webinars
  • Programs
    • Grow Your Business Online
    • Talent Opportunities Program
    • Discover Ability Network
    • Canada United Small Business Relief Fund
    • Export and Trade
  • Membership
    • Affinity Programs
  • News
    • Media Releases
    • Policy Updates
    • Blogs
  • About
    • Contact
    • Board of Directors
    • Staff
    • Employment
    • Strategic Plan
Asset 6
x
x
  • Rapid tests available for small business!
  • COVID-19
    • Pandemic Preparedness Toolkit
    • Frequently Asked Questions
    • Webinars
    • Our Advocacy
    • COVID-19 Policy Brief Series
    • SME Difference Makers
    • Work From Home
    • Mental Health Resources
    • How to Protect Yourself
    • Talk To Us
    • #DifferenceMakers
  • Advocacy
    • Housing Affordability Initiative
    • Blueprint To Bolster Ontario’s Prosperity
    • COVID-19 Policy Brief Series
    • Ontario Climate Action Series
    • Ontario Economic Report
    • Our Publications
    • Vote Prosperity
  • Councils
  • Events
    • Advocacy Day
    • Annual General Meeting
    • Ontario Business Advisory Council
    • Ontario Business Achievement Awards
    • Ontario Economic Summit
  • Webinars
  • Programs
    • Grow Your Business Online
    • Talent Opportunities Program
    • Discover Ability Network
    • Canada United Small Business Relief Fund
    • Export and Trade
  • Membership
    • Affinity Programs
  • News
    • Media Releases
    • Policy Updates
    • Blogs
  • About
    • Contact
    • Board of Directors
    • Staff
    • Employment
    • Strategic Plan
search_White

Business confidence remains low amid second wave and continued uncertainty

Ontario Chamber Releases Second Wave of Business Confidence Survey Findings

COVID-19 Information COVID-19 Resources
Tools and Resources Pandemic Preparedness Toolkit Frequently Asked Questions Webinars Our Advocacy Policy Brief Series SME Difference Makers Government News Work From Home Mental Health Resources How to Protect Yourself Talk To Us #DifferenceMakers
Become a Member
Become a Member >
Facebook Twitter LinkedIn Youtube

Media Release

Business confidence remains low amid second wave and continued uncertainty

November 11, 2020

(Toronto – November 11, 2020) – Today, the Ontario Chamber of Commerce (OCC) released another round of insights from data it has collected to inform its upcoming Ontario Economic Report.

“The second wave of this pandemic and prolonged uncertainty about the future are taking their toll on businesses,” said Rocco Rossi, President and CEO of the Ontario Chamber of Commerce. “Confidence in Ontario’s economic future has dropped to an unprecedented low.”

In October, only 20 percent of survey respondents expressed confidence in Ontario’s economic outlook, down two percentage points from September, and dipping to its lowest level since the OCC began measuring business confidence in 2011. By contrast, 45 percent said they lacked confidence.

“Many businesses are not seeing a light at the end of the tunnel just yet,” added Daniel Safayeni, Director of Policy of the Ontario Chamber of Commerce. “However, our survey also reveals 60 percent of businesses are confident that entrepreneurship in Ontario will rebound after the COVID-19 crisis. We’d like this number to be much higher, as Ontario will need small businesses to be an engine of post-pandemic job creation and economic recovery.”

Meanwhile, half of Ontario businesses surveyed remain cautiously optimistic about the future of their own organizations, with only 21 percent lacking confidence. The top reasons for their confidence included increased demand for their products/services, growing client bases, and “buy local” campaigns. For example, Canada United, a national shop local movement launched in Summer 2020 in support of small businesses in communities across the country. Regional insights can be further explored on the Ontario Chamber of Commerce website.

The Ontario Economic Report (OER) is the OCC’s landmark research platform, presenting the collective voice of our 60,000 members in 138 communities across the province. Our fifth annual report, set to be released in early 2021, will offer a unique lens on the provincial economy to highlight the unprecedented year that was 2020 and the unpredictability of the year to come.

This survey was fielded by the Ontario Chamber of Commerce (OCC) and included email invitations from the OCC as well as 138 local Ontario chambers and boards of trade. Fieldwork was completed from October 8th to November 3rd, 2020.

Thank you to the 2021 Ontario Economic Report Landmark Partner, Hydro One, and Research Partner, Golfdale Consulting.

This survey was fielded by the Ontario Chamber of Commerce (OCC) and included email invitations from the OCC as well as 134 local Ontario chambers and boards of trade. Fieldwork was completed from October 8th to November 3rd, 2020. A total of 873 complete survey responses were collected.

-30-

About the Ontario Chamber of Commerce
For more than a century, the Ontario Chamber of Commerce (OCC) has been the independent, non-partisan, indispensable partner of Ontario business. The OCC’s mission is to support economic growth in Ontario by defending business priorities at Queen’s Park on behalf of its network’s diverse 60,000 members.

For more information, please contact:
Ceara Copps – Edwards, Manager, Public Affairs, cearacoppsedwards@occ.ca| Mobile: (647) 936-6734

Previous

Ontario Chamber of Commerce hosts former chair of Democratic National Committee for Debrief on the US Election

Next

Business Community Welcomes Pandemic Supports; Incentives for Growth and Competitiveness in Ontario’s Budget 2020

Follow Us

Facebook Twitter LinkedIn Youtube

Site Nav

  • Advocacy
  • Events
  • Programs
  • Membership
  • News
  • About
  • Contact

Receive Updates

Subscribe to our mailing list and stay up to date on everything with the Ontario Chamber of Commerce

Subscribe Now
PREMIER MEMBERS
TELUS SNC Lavalin Ontario Power Generation Hydro One CPAO Bell BDO Canada RBC Royal Bank Ontario Real Estate Association Medavie Blue Cross Primerica CN Desjardins PwC McCarthy Tetrault Coca-Cola Canada Meridian Credit Union Uber BMO Bank of Montreal Bruce Power Air Canada Power Corporation of Canada Boehringer Ingelheim Eli Lilly Greater Toronto Airports Authority Aecon Enbridge Rogers Google WSIB Ontario Waste Connections of Canada Cogeco Omers Labatt Arcelor Mittal IBC GSK LiUNA ICG Northeastern University Fire and Flower Golfdale Consulting The Stratagem Group TLN Media Group 407 ETR Concession Company Ltd. Accerta Rothmans, Benson and Hedges (RBH) Grasshopper AstraZeneca Bio Marin Pharmaceutical Birch Hill Equity Partners Board of Canadian Registered Safety Professionals CF Industries Cisco Systems Canada Club Link Corporation Innovative Medicines Canada Magna Carta International Pfizer Canada Inc. Service Now The Canada Life Assurance Company Northbridge Consulting Insurance MNP Takeda TC Energy Destination Nothern Ontario Interac Corp. DoorDash Staffy Microsoft Cadillac Fairview Meta Beer Canada Shopify Inc

Ontario Chamber of Commerce © 2023 | Privacy Policy | Service Standard | Employment Opportunities
The OCC is an accredited chamber of commerce