To keep on top of the business game, you need to be aware of the trends and adapt to them, according to the Chief Economist with Business Development Bank of Canada.
As Small Business Week begins, Pierre Cleroux says in Saskatchewan the top trends are the retirement of baby boomers and the overall aging population, which means a smaller talent pool of skilled employees.
Statistics Canada reports that Saskatchewan will experience no growth in the working age population in the next ten years. That is pretty much in line with the Canadian average. Another trend is e-commerce and digital technology.
Cleroux says 57 per cent of the business-to-business buying is done online before a salesperson is contacted. He believes businesses need a website, even if you don’t sell any product online, with e-commerce expected to double in the next 3 years.
Cleroux adds digital technologies are changing the game for the manufacturing sector but Canada lags behind other developed countries in automation.