The Business Development Bank of Canada (BDC) found trade disputes and a global slowdown have undermined small business confidence in the economy, but firms still plan to make investments in their businesses. (The Logic)

Talking point: International trade tensions—notably the ratification of USMCA, the U.S.-China trade dispute and potential fallout from Brexit—are top of mind for Canadian businesses heading into the new year. The Conference Board of Canada has said the country will not fall into a recession in 2020, thanks to some growth in consumer spending and a rebounding energy sector. The BDC survey was conducted in October 2019 to gauge the level of confidence in the economy among 1,000 business owners. According to the results, entrepreneurs in the manufacturing and services sectors expect to hire more workers. Canadian business owners said they plan to increase investments in technology, marketing initiatives, intellectual property and employee training, but will scale back spending on real estate, machinery and equipment.