The state of the global economy is still uncertain, but in Canada, some people are beginning to relax.
Three quarters of Canadian business leaders say they are expecting higher profits by 2015, according to a bi-annual survey conducted by the Canadian Manufacturers and Exporters association.
There is also an expectation for a shift in customer and supplier base to Eastern Europe, China and Brazil over the next three years, although Canada and the United States will remain the primary markets for the foreseeable future.
The vast majority of respondents believe the three most pressing challenges facing them, in order, are increased competition, the strength of the Canadian dollar, and attracting and regaining labour – the latter being the key concern for the province of Saskatchewan.
Smaller companies, meanwhile, said developing new markets was key, while those with over 500 employees identified supply chain management and logistics, cost and the availability of raw materials, and regulations as their largest challenges.