Survey By Zoho Highlights Canadian Business Growth In 2021 & Optimism for 2022

A newly released survey by Zoho Corporation has revealed a surprising amount of growth among Canadian businesses in 2021 – despite the extreme challenges of navigating the pandemic – as a majority of the respondents indicated they experienced year-over-year growth in 2021.

The survey – which queried 501 business owners across Canada – found that 72.5% of businesses had year-over-year growth in 2021 and even more said they had high hopes for the future, with 82.6 % stating they had optimism for growth in 2022.

Key Survey Findings:

  • 72.5% of Canadian businesses say their business is growing when compared to 2020, with the Greater Toronto Area (GTA) leading the pack at 77.6%, Montreal lagging behind at 66.7%, and Calgary coming in last at only 59.3%.
  • 82.6% of Canadian businesses are optimistic about the next 12 months, although that optimism is significantly less pronounced in Calgary with only 67.9% stating optimism for 2022. 
  • 66.3% of businesses say they are at the intermediate to advanced level of fully digitizing/automating their businesses, indicating a strong acceleration in digital transformations.
  • Business apps are popular among Canadian businesses with 56.9% of respondents using 1-40 apps and another 7.6% using more than 40 apps.
  • 64.9% said low-code apps improve speed-to-market and another 62.2% plan to use a low-code tool to build more apps.
  • While 40% say they’ll maintain a work-from-home or hybrid model in the future, 33.3% of respondents overall said they’re unsure about where their employees will ultimately work. This is in stark contrast to Montreal, where 50% of those surveyed plan on having employees return to the office full-time.
  • Almost 1-in-5 people surveyed have relocated since the beginning of the pandemic.

Report Methodology

Conducted in October 2021 by Zoho Survey, this study contacted 501 individuals across Canada. Participants of the study included a range of business leaders from manager roles to the C-level at small and large enterprises across a variety of industries.

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