{"id":11931,"date":"2019-10-30T09:28:01","date_gmt":"2019-10-30T09:28:01","guid":{"rendered":"https:\/\/swallowimmigration.ca\/en\/?p=11931"},"modified":"2021-10-04T12:07:04","modified_gmt":"2021-10-04T12:07:04","slug":"bank-of-canada","status":"publish","type":"post","link":"https:\/\/swallowimmigration.ca\/en\/bank-of-canada\/","title":{"rendered":"Bank of Canada"},"content":{"rendered":"\n<p><strong>Companies That\nHaven\u2019t Reached \u2018Digital Maturity\u2019 Are Less Profitable<\/strong><\/p>\n\n\n\n<p>Oct 17, 2018<\/p>\n\n\n\n<p>by&nbsp;<a href=\"https:\/\/huddle.today\/author\/inda-intiar\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Inda Intiar<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Atlantic Canadian small and medium-sized businesses are lagging behind when it comes to \u201cdigital maturity,\u201d according to a new survey by the Business Development Bank of <a href=\"https:\/\/swallowimmigration.ca\/en\/new-brunswick-workers\/\" target=\"_blank\" rel=\"noreferrer noopener\">Canada <\/a>(BDC).<\/strong><\/h4>\n\n\n\n<p>Only 15 percent of Atlantic Canadian small and medium-sized businesses are considered digitally mature, behind the national average of 19 percent. British Columbia and the Northwest Territories scored the same as Atlantic Canada.<\/p>\n\n\n\n<p>BDC\u2019s Chief Economist and VP of\nresearch, Pierre Cl\u00e9roux, said it\u2019s difficult to determine exactly why this is\nthe case, but noted some possibilities.<\/p>\n\n\n\n<p>\u201cWhat we noticed from the\nreport is smaller businesses have a lower rate of adoption. So it could be that\nin [Atlantic Canada, B.C. and Northwest Territories], businesses are a bit\nsmaller,\u201d he said.<\/p>\n\n\n\n<p>Still, 60 percent of small and medium-sized companies in Canada has a conservative profile. Cl\u00e9roux said it may take time before more businesses take the shift towards embracing digital technology.<\/p>\n\n\n\n<p>\u201cWhat the\nresearch is showing is people feel uncomfortable sometimes with technology,\nespecially older entrepreneurs. Or they don\u2019t see the benefit,\u201d he said.<\/p>\n\n\n\n<p>But today, businesses big or small can\u2019t ignore digital technology anymore. BDC\u2019s study says 25 percent of businesses that didn\u2019t invest in technology have seen sales plummet in the last few years, and have a poor sales outlook going forward.<\/p>\n\n\n\n<p>Meanwhile, digitally mature companies are more likely to have higher sales growth (62 percent) and profit growth (52%) in the past three years. They are also more likely to have exported (70 percent) and innovated (329 percent).&nbsp;<\/p>\n\n\n\n<p>\u201cToday actually, nobody can afford to be on the sideline. They have to really look very seriously in investing in digital technology,\u201d Cl\u00e9roux said. \u201cJust think, today, 80 percent of Canadians, the first thing they go to when they want to buy a product they go online. So if you\u2019re not online today, you\u2019re almost invisible.\u201d<\/p>\n\n\n\n<p>Quebec leads in Canada, with 26 percent of companies being digitally advanced. This is most likely because there was a lot of awareness about the importance of using digital technology in the past few years, Cl\u00e9roux said.<\/p>\n\n\n\n<p>Cl\u00e9roux encourages\nbusinesses to embrace and invest in digital technology, starting with creating\na plan that fits with the company\u2019s needs and determines what technology is\nneeded.<\/p>\n\n\n\n<p>The study kicked off the BDC\u2019s&nbsp;<a href=\"https:\/\/www.bdc.ca\/en\/small-business-week\/pages\/home.aspx?ref=shorturl-sbw\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Small Business Week<\/a>, which aims to celebrate entrepreneurship across the country. Between October 14 and October 20, nearly 120 events will be held in Atlantic Canada alone, with the theme \u201cDigitize now: Transform your business.\u201d<\/p>\n\n\n\n<p>For more information follow the link below:  <\/p>\n\n\n\n<p><a href=\"https:\/\/huddle.today\/companies-that-havent-reached-digital-maturity-are-less-profitable\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"https:\/\/huddle.today\/companies-that-havent-reached-digital-maturity-are-less-profitable\/ (opens in a new tab)\">https:\/\/huddle.today\/companies-that-havent-reached-digital-maturity-are-less-profitable\/<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Atlantic Canadian small and medium-sized businesses are lagging behind when it comes to \u201cdigital maturity,\u201d according to a new survey by the Business Development Bank of Canada (BDC).<\/p>\n","protected":false},"author":1,"featured_media":11938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[79,84,80,85],"tags":[217,216,218,219],"class_list":["post-11931","post","type-post","status-publish","format-standard","hentry","category-atlantic","category-canada","category-news","category-quebec","tag-bank","tag-bdc","tag-development","tag-digital"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Swallow Immigration Consultancy Inc | Bank of Canada<\/title>\n<meta name=\"description\" content=\"Atlantic Canadian small and medium-sized businesses are lagging behind when it comes to \u201cdigital 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