Chandrashekar LSP, Managing Director of Zoho Canada, talks about the newly released Zoho Canada Business Outlook Report by Zoho Corporation, a leading global technology company, indicating a notable decrease in business optimism among Canadian business leaders by 20% due to ongoing economic challenges. which indicated a notable decrease in business optimism in Canada by 20% since the previous survey. LSP highlighted the challenges faced by Canadian businesses and the implications for Zoho’s strategic decision-making based on the research insights.

Key Survey Findings:

  • Respondents continue to be somewhat optimistic about their business with 63.1% of respondents anticipating growth of 1-20% (74.1% in Q4, 2023)
  • Staffing is holding steady with 57.2% of businesses planning to maintain current workforce levels (64% in Q4, 2023)
  • The integration of AI is a mixed priority with 45.4% of people not seeing it as the most critical technology. 
  • 51.9% of respondents feel that customer spending is down
  • 24% of businesses indicate that cybersecurity is a technology priority, closely followed by collaboration tools (21.1%) and CRM (20.9%)
  • The availability of employee well-being programs skews towards the negative with 52.1%  of respondents indicating that none exist at their workplaces. 

To learn more about ZOHO, check out their Lion’s Den pitch at the last ChannelNext West event: