Growth Pushes Uncertainty Aside: 78% of Entrepreneurs Are Now Focused on Growing their Business Despite Volatility says BDC Small Business Week Survey

MONTREAL, Oct. 15, 2026 (GLOBE NEWSWIRE) — After a year of trade and economic uncertainty, entrepreneurs are choosing to focus on what they can control according to a new survey by the Business Development Bank of Canada (BDC). And 78% of them are getting on with the business of growth.

The study launches Small Business Week™, created by BDC in 1979. Its findings reflect this year’s theme: It’s a two-speed world now. Fast or Finished. Although the tariff war remains relevant, it’s not the only challenge impacting small businesses.

AI is raising the bar on speed and cost efficiency, and if a business isn’t using it, its competition is. Business transfers are changing market dynamics, giving some businesses instant scale. Talent is scarce and expensive. Supply chains are still fragile. And yes, trade shocks can still hit overnight. Even with these headwinds, more entrepreneurs are putting growth first, acquiring customers, improving productivity and getting serious about diversification.

“Entrepreneurs do the impossible every day. When faced with uncertainty, they adapt, innovate and find new paths to growth. They may have taken a short pause last year, but seeing nearly 80% of small businesses focused on growth again is a powerful signal for Canada’s economy. Because in today’s world, there’s very little middle ground: you’re either fast or finished. And it looks like we’re overwhelmingly choosing fast,” said Isabelle Hudon, President and CEO of BDC.

Key findings:

• 48% of SMEs believe the business environment is changing faster than it was two years ago, while 59% believe businesses that are slow to adapt risk falling behind.
• Expansion is now the top priority for 46% of SMEs, up from 34% in 2025.
• Over the past 12 months, 64% of SMEs acquired customers in their region and 29% acquired customers elsewhere in Canada.
• 88% took at least one step to improve productivity, compared with 74% in 2025.
• Among SMEs directly affected by U.S. tariffs, 58% expanded their products or services, compared with 39% of SMEs overall.

“Canadian entrepreneurs have accepted that volatility, tariffs and disruption are part of today’s business environment, and they’re planning accordingly. They increasingly see growth as the answer to uncertainty. Instead of sitting on the sidelines, they’re finding new customers, diversifying their offerings and investing in AI to strengthen their productivity and their competitive position for the long term,” said Pierre Cléroux, Chief Economist of BDC.

To reflect the latest business environment, BDC updated its 2026 State of Entrepreneurship survey with a second wave of data collection conducted after new U.S. tariffs came into effect in late August. This allowed to capture the most recent perspectives of Canadian entrepreneurs on evolving trade pressures.

“What’s striking is that even after we factored in the latest round of tariffs, entrepreneurs’ growth mindset remained strong. A shift this significant from last year may be the most important finding in this year’s study,” Cléroux concluded.

About the study

The findings are based on an online survey of Canadian business owners and decision-makers conducted in two waves: 1,500 respondents from June 8 to 29, 2026, and 1,000 respondents from September 4 to 13, 2026. Data were weighted by region and number of employees. The survey used a non-probability sample. For reference, probabilistic samples of 1,500 and 1,000 respondents would have maximum margins of error of approximately ±2.5 and ±3.1 percentage points, respectively, 19 times out of 20.

About BDC, Canada’s bank for small- and medium-sized business owners

BDC focuses on small- and medium-sized business owners, providing them financing, investment, and advice. As Canada’s development bank, we also support entrepreneurs who don’t fit the traditional mold working with a network of partners and help develop underserved markets to unlock economic potential. Our mission is to build strong, resilient businesses that drive Canada’s economic growth. BDC is a perennial Canada’s Top 100 Employer and B Corp certified. Learn more at bdc.ca or connect with us on social media.

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