The Manitoba Business Leaders Index is an annual scientific survey of senior business officials from across the province
The Manitoba Business Leaders Index is an annual scientific survey of senior business officials from across the province. The survey sample includes a stratified sampling of CEOs, presidents, business owners and designated senior corporate officers from small, mid sized and large commercial establishments as defined by Statistics Canada and the Manitoba Bureau of Statistics. This business sampling includes publicly traded and private companies from all major sectors of Manitoba industry.
Business listings have been developed based upon the most authoritative and up to date sampling sources available including various telephone directories.
Core Business Metrics
- Manitoba businesses are more likely to worry about increased operating costs and the impact of inflation than any other issues they face Seven in ten say inflation is one of their main preoccupations, while attracting staff and supply chain disruptions round out the top three issues of concern to businesses in the province
- Confidence in Winnipeg’s economic future has decreased further, with fewer than one half now optimistic about the economic prospects of Manitoba’s largest city 49 down from 56 last year and 66 in 2021
- More businesses today say they are in a relatively stable position compared to last year, with only one quarter saying they are now worse off than at this time 12 months ago 24 down from 41 in 2022 and about one quarter saying they are better off Fewer businesses, however, expect to be better off at this time next year 34 down from 42 in 2022
- Meanwhile, the proportion of businesses who report having difficulty finding qualified employees continues to rise 70 up from 63 in 2022 and 39 in 2021 Only one quarter expect to hire more employees in the coming year, with fewer than one in ten expecting to lay off staff or reduce their available hours
Assessment of Government Performance
- Business leaders continue to give the three levels of government failing grades for their efforts to create a positive business climate Today, only one quarter of Manitoba businesses praise the work of their local government 24 down from 32 in 2022 with those outside Winnipeg much more likely to give high marks to municipal officials Only one in five 21 continue to say the provincial government is doing an excellent or good job of creating a good business climate Even fewer express positive views about the federal government 15 down from 25 in 2022 and 40 in 2021
Post Pandemic Recovery
- Nearly all businesses are now fully open and very few are operating at a reduced capacity. More businesses report their sales today are higher than they were prior to the COVID 19 pandemic (38%, up from 32% in 2022). Three in ten say their sales are at the same level, with one third indicating their revenue is lower than it was prior to March 2020.
- Two thirds of Manitoba businesses worry about their computer networks being attacked in some way, with one in five indicating they are very concerned about this. Overall, 16 per cent say they have been attacked at some point, with one third indicating they know of at least one other company or organization that experienced a problem with ransomware, hacking or other types of cyberattacks.
- Seven in ten Manitoba businesses have done something to protect themselves from a cyberattack. Those who have taken action are most likely to have purchased software or hired an IT specialist who can address these cybersecurity concerns.
- About one in five Manitoba businesses have purchased cybersecurity insurance, with smaller companies less likely to have obtained this.
- Three in ten Manitoba businesses sell some kind of product or service to a government entity, with those who sell to government most likely to count the provincial government or a municipality as their client.
Supply Chain Canada Proprietary Section – Key Findings
- More than seven in ten Manitoba business leaders agree that they try to be environmentally conscious when sourcing goods and services, including three in ten who strongly agree that their organization does this This level of environmental conscientiousness is similar to the level recorded in 2022. Manufacturers and medium sized and larger firms are most likely to make these efforts.
- Nearly two thirds of business leaders, meanwhile, say they have re evaluated their operations recently due to supply chain disruptions a similar proportion to those who indicated in 2022 that they did this. Larger companies and those in the manufacturing sector are more likely to say they have re evaluated their supply chains.
- Manitoba businesses are most likely to use vehicles to get goods and services to and from their businesses, particularly courier/delivery vehicles for short distances and long haul trucking for shipping goods further afield Eight in ten indicate they have experienced an increase in their transportation costs within the past year, with three quarters saying they have had a hard time obtaining supplies.
- Three in ten Manitoba organizations say they have done an excellent job of making an effort to diversify their workforces, with a very similar proportion indicating they have done a good job One quarter rate their company’s efforts in this area as being only fair or poor.