Canadian SME owners push for growth despite economic uncertainty
The findings arrive during Small Business Month and at a moment when Canada’s economic policy conversation is increasingly focused on productivity, exports and long-term growth. For financial advisors, the data points to an expanding and underserved client segment that is actively investing in its future.
A client segment sharpening its focus
Scotiabank’s report draws on four sector-specific listening sessions held in August and September 2026 with small business clients across Canada, including family physicians, dentists, veterinarians, legal and accounting professionals, and franchise operators.
Three business priorities emerged consistently: investing in specialized expertise, driving operational efficiency through digital tools, and pursuing disciplined growth through diversification and acquisition.
“Small businesses are central to the Canadian economy,” said Julien Champagne, senior economist at Scotiabank. “Ensuring they can scale alongside the country’s broader investment agenda will be key to boosting productivity, strengthening exports and creating better jobs.”
The themes resonate with broader industry trends. As Wealth Professional Canada has reported, the advice gap for business owners often widens significantly after a sale, when proceeds shift into holding companies and estate planning needs multiply. The Scotiabank data suggests that the planning conversation should begin well before any exit – when business owners are actively scaling.
