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The next 12 months will be another test of leadership for Canada’s CEOs.
Already in the past two years, they have dealt with the pandemic, supply-chain issues, talent shortages, technological advances, market volatility, the war in Ukraine, surging inflation and interest rates, digital transformation, and intensifying sustainability agendas. All remain ongoing concerns that tests their organization’s resiliency and agility.
Now just as the economy has started its post-pandemic recovery, a recession looms.
Ninety-two percent of the 75 top Canadian company CEOs in KPMG’s annual bellwether Global CEO Outlook Report believe the country will fall into a recession in the next 12 months.
In separate, new research, into 503 small and medium-sized businesses (SMBs), two-thirds (66 percent) also anticipate a recession. However, the majority of leaders (69 percent of CEOs and 52 percent of SMBs), irrespective of company size, are optimistic that it will be mild and short and have already taken steps to help ride out the upcoming turbulence.
While the economy and an anticipated recession are currently keeping CEOs up at night, our surveys also reveal shared concerns with global peers that emerging or disruptive technology and operational issues are forever changing the way they do business and present an ongoing threat — and opportunity — to their ability to grow.
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