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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.
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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.
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Expansion is now the top priority for 46% of SMEs, up from 34% in 2025.
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Over the past 12 months, 64% of SMEs acquired customers in their region and 29% acquired customers elsewhere in Canada.
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88% took at least one step to improve productivity, compared with 74% in 2025.
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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.
