Canadian private companies showing signs of expansion and growth:PwC

Canadian private companies are aiming for growth and expansion in the coming year, according to a PricewaterhouseCooper’s survey.
The survey findings are positive for commercial insurers, which saw a decrease in demand during the financial crisis. Companies faced tighter budgets and reduced coverage. Some companies reduced in size, physically and from a payroll perspective, and some companies disappeared altogether.
In its survey, PwC found that 66% of respondents cited growth and expansion as their strategy for 2011, compared to 58% in 2009.
Companies are setting ambitious growth targets, PwC noted.
Sixty-three per cent of respondents set a growth rate of up to 9%, while 33% set a growth rate of 10% or more. Twenty-four per cent plan to grow by 15% or more, up from 9% last year.
“Most private companies are striving for some level of growth, with a good number planning for quite aggressive growth,” said Tahir Ayub, PwC’s Canadian private company services leader. “They’ve been through the worst of the downturn and have used that time wisely by fine-tuning their strategies and are ready to expand.”