Embrace Productivity to Thrive in the Current Context
Productivity growth has declined in Canada since the pandemic. Average annual productivity growth dropped to 0% from 2019 to 2023, while labour costs have been increasing faster than labour productivity.
This crisis in productivity is even more dire for small and medium-sized businesses (including those looking to become more sustainable) that have seen their productivity drop to 58% that of large firms.
This has important consequences for Canadian entrepreneurs. More productive firms, generate more sales, profits and are more valuable in the event of a sale. An unproductive company is leaving a lot of money on the table!
The good news is that you can take actions to curb this trend. Business investments in machinery, equipment and technology, for instance, are key drivers of productivity and help drive sustainability, but other solutions exist as well.
Discover
- Why Canada is lagging in productivity
- Productivity trends for some of the largest sectors of the Canadian economy
- How to improve productivity in your company
About the Speaker:
Rosanne Horner, MBA, is Vice President, South Fraser Region at the Business Development Bank of Canada (BDC). She is passionate about the development and success of Canadian entrepreneurs. With over 18 years of experience at BDC, she has worked in all of BDC’s core divisions: advisory services, capital and financing. Rosanne holds a Bachelor of Arts from the University of British Columbia, an MBA from the University of Hertfordshire (UH) and a Management Certificate from BCIT in Human Resources.
About BDC:
At BDC, we know business owners. We’ve been working with them for more than 80 years. We know their challenges and we understand their needs. And we want them to grow and succeed. We support small and medium-sized businesses in all industries and at every stage of growth with money and advice. We are the Business Development Bank of Canada. We are BDC.
