Canadian finance executives are taking an aggressive stance on business growth, according to the fifth annual American Express/CFO Research Global Business & Spending Monitor, a survey of 541 senior finance executives from the U.S., Europe, Canada, Latin America, Asia and Australia.
The results of the global survey show that Canada is among the most determined when setting growth targets, with 73% of Canada's senior finance executives seeking more aggressive growth for their business in 2012. That's just shy of their counterparts in the high growth economies of India (75%) and Argentina (85%).
"Canadians are renowned for their non-aggressive nature, and until recent years the same was true for Canadian businesses," says Paul Parisi, vice-president and general manager, global corporate payments, American Express Canada. "Canadian companies are revealing a new toughness in pursuing business growth more aggressively than many of their global colleagues."
Globally, finance executives continue to express restrained optimism about the prospects for economic growth, with 64% reporting expectations for modest or substantial economic expansion over the next 12 months.
In terms of when finance executives from various countries expect global economies to gather strength, half of Canadian CFOs (50%) expect the Canadian economy to return to robust economic growth this year. Respondents in the U.S. report a more extended growth horizon, with the majority of executives (75%) anticipating economic growth to gain traction at some point after the fourth quarter of 2012.