With many consumers expected to reduce their spending this year, a recent survey shows small businesses are not planning on raising prices anytime soon.
The survey, by BMO Bank of Montreal, found that 67 percent of Canadian small businesses will not be raising prices in 2012. This was in line with the 22 percent who said reduced consumer spending would be the biggest challenge this year, the most popular response.
"Modest economic and wage growth, the lure of cross-border deals and global economic uncertainty have convinced many Canadian businesses not to raise prices," said Sal Guatieri, senior economist for BMO Capital Markets. "For many businesses, remaining competitive and focusing on productivity are primary concerns, both of which will help Canadian businesses in the long run."
Approximately 58 percent of businesses said they'd be looking to increase their business' productivity through new investments, according to the report. One way to do this is to invest in a new workspace from Jiffy Self Storage. These storage units are the perfect choice for an office space, and the company's affordable rates can help business owners save big over more expensive locations.
From Toronto's leading self storage facility comes Jiffy Workspaces for small businesses, start-up offices for multi-services, eBay Power Sellers and merchandising businesses. These air conditioned incubator spaces are available with internet and can serve as a fully-functional workspace. Storage-on-demand is a great feature for any start-up businesses that needs seasonal or monthly storage to match their business office needs and only Jiffy Self Storage offers this unique service.