The Globe and Mail’s Report on Business has partnered with Nanos Research to conduct a leading-edge business survey of top CEOs in Canada.

Nanos conducted an online survey of CEOs in Canada from a list provided by The Globe and Mail, between March 16th and April 12th, 2023. CEOs were sent a link and unique four-digit code to participate in the online survey. A total of 30 CEOs in Canada participated in the research with an estimated response rate of 17%.

The research was commissioned by The Globe and Mail and was conducted by Nanos Research.

To follow are the list of questions asked as part of the online survey:

  1. In the next six months, do you think the Canadian economy will become stronger, weaker, or will there be no change?

Stronger………………………………………… 1
Weaker…………………………………………. 2
No change…………………………………….. 3
Unsure………………………………………….. 77

  1. Is Canada TODAY on the right or wrong track when it comes to being a place for businesses to invest?

Right track…………………………………….. 1
Wrong track………………………………….. 2
Unsure………………………………………….. 77

  1. Why do you have that opinion? [OPEN]
  2. What are the biggest threats, if any, when it comes to your company conducting business in Canada in 2023? [OPEN]

Let’s take a moment to discuss the investment climate in Canada in terms of the past, today and the future.

For each of the following I’d like you to rate Canada as a place to invest where 0 is a very bad place to invest and 10 a very good place to invest:

  1. Canada as a place to invest five years ago
  2. Canada as a place to invest today
  3. Canada as a place to invest five years from now

0 (very bad place to invest)……………    0
1……………………………………………………. 1
2……………………………………………………. 2
3……………………………………………………. 3
4……………………………………………………. 4
5……………………………………………………. 5
6……………………………………………………. 6
7……………………………………………………. 7
8……………………………………………………. 8
9……………………………………………………. 9
10 (very good place to invest)……….     10
Unsure………………………………………….. 77

  1. One year from now, do you think interest rates will be lower, on par or higher than they are today?

Lower……………………………………………. 1
On par…………………………………………… 2
Higher…………………………………………… 3
Unsure………………………………………….. 77

Are you confident, somewhat confident, somewhat not confident or not confident in the following: [ROTATE]

  1. that your business can find the workers with the right skills to fill job openings
  2. that your business will be prepared for climate change

Confident………………………………………. 1
Somewhat confident…………………….. 2
Somewhat not confident………………. 3
Not confident……………………………….. 4
Unsure………………………………………….. 77

  1. Over the next six months, do you expect the demand for goods and services at your company will increase, decrease or stay the same?

Increase………………………………………… 1
Decrease………………………………………. 2
Stay the same……………………………….. 3
Unsure………………………………………….. 77

  1. Over the next six months, do you expect the number of employees you have to increase, decrease or stay the same?

Increase………………………………………… 1
Decrease………………………………………. 2
Stay the same……………………………….. 3
Unsure………………………………………….. 77

  1. Is the financial strength of your company, better, the same or worse than a year ago?

Better……………………………………………. 1
The same………………………………………. 2
Worse…………………………………………… 3
Unsure………………………………………….. 77

Please indicate whether the following present a threat or an opportunity for your business: [RANDOMIZE Q14 & Q15, Q16 & Q17, Q18 & Q19]

  1. Climate change

A major threat……………………………………..1
A minor threat……………………………………. 2
Neither a threat nor an opportunity……… 3
A minor opportunity…………………………….4
A major opportunity……………………………. 5
Unsure………………………………………………..77

  1. Why do you have that opinion? [OPEN]
  2. America’s Inflation Reduction Act

A major threat……………………………………..1
A minor threat……………………………………. 2
Neither a threat nor an opportunity……… 3
A minor opportunity…………………………….4
A major opportunity……………………………. 5
Unsure………………………………………………..77

  1. Why do you have that opinion? [OPEN]
  2. Cybersecurity

A major threat……………………………………….. 1
A minor threat……………………………………….. 2
Neither a threat nor an opportunity……… 3
A minor opportunity………………………………. 4
A major opportunity………………………………. 5
Unsure…………………………………………………… 77

  1. Why do you have that opinion? [OPEN]
  2. Interest rates

A major threat……………………………………..1
A minor threat……………………………………..2
Neither a threat nor an opportunity……… 3
A minor opportunity…………………………….4
A major opportunity……………………………. 5
Unsure………………………………………………..77

  1. Why do you have that opinion? [OPEN]
  2. Please rank the following regions in order of priority when it comes to where Canada should be focusing its trade efforts, where 1 is the top priority, 2 the second priority, and 3 is the third priority. [RANDOMIZE]

……………………………………………………… Rank
North America………………………………. ____
Europe………………………………………….. ____
China…………………………………………….. ____
Other (please specify)…………………… ____
Unsure………………………………………….. 77

  1. Do you think it is likely, somewhat likely, somewhat unlikely or unlikely for there to be a possible recession in the second half of 2023?

Likely…………………………………………….1
Somewhat likely……………………………. 2
Somewhat unlikely………………………..  3
Unlikely…………………………………………4
Unsure…………………………………………..77

  1. [IF LIKELY/SOMEWHAT LIKELY] Do you believe the possible recession in the second half of 2023 will be severe, somewhat severe, somewhat not severe or not severe?

Severe…………………………………………..1
Somewhat severe…………………………. 2
Somewhat not severe……………………  3
Not severe…………………………………….4
Unsure………………………………………… 77

  1. [IF LIKELY/SOMEWHAT LIKELY] What steps are you undertaking, if any, to prepare your company for a possible recession in the second half of 2023? [OPEN]
  2. What policy changes could help make Canada’s economy stronger? [OPEN]
  3. Do you have any other views or comments you would like to share? [OPEN]

 

Our last few questions will help us group your responses.

  1. How long has your company been in business? __ years
  2. About how many full-time employees, including support staff, did your company have in 2022? ___
  3. About how many part-time employees, including support staff, did your company have in 2022? ___
  4. What was the proportion of full-time employees, including support staff, that worked full-time in person at the office in 2022? ____%
  5. What was the proportion of full-time employees, including support staff, that worked full-time in person at the office prior to the start of the pandemic in March 2020? ____%
  6. How much of your head office space was occupied in 2022? ___%
  7. How much of your head office space was occupied prior to the start of the pandemic in March 2020? ___%