Survey Reveals Optimistic Outlook for Waterloo Region Businesses

For Immediate Release

February 25, 2015

Press Release

Survey Reveals Optimistic Outlook for Waterloo Region Businesses

Kitchener, ON – In a recent survey, a majority of Chamber members felt that 2014 was a positive year for their business. There was also an overwhelmingly positive outlook for business growth for 2015. As 2015 begins with lower gas prices, a weaker Canadian dollar, and major local infrastructure projects, our members still believe that 2015 will be a bright year.

This survey was put to our members after the Bank of Canada’s announcement to lower interest rates in response to the drop in oil prices and weakening Canadian dollar.

Key Findings:

  • Respondents cover 14 sectors of the economy including insurance, financial services, technology, education, not-for-profit, retail, and manufacturing.
  • 66% of members reported moderate to very strong business growth in 2014, while 28% said 2014 was stable
  • 76% of respondents are optimistic about their businesses heading into 2015
  • 61% of members say customer growth is the their number one challenge

Chamber’s View of Findings

A strong majority of businesses reported growth in 2014. Our membership base is optimistic for continued growth in 2015.

“The diversity and resilience in the Waterloo Region business community is on display in this survey,” said Ian McLean, President & CEO of the Greater KW Chamber of Commerce. “Many communities in Ontario struggle when key sectors in their economy suffer. Waterloo Region is blessed to have a very diverse economy with Insurance, Information Technology, Financial Services, Manufacturing, Education, Retail, Professional Services, and Small Business.”

The results also show that businesses are focused on working hard to grow. The Chamber will continue to offer world class networking opportunities for member businesses to connect, collaborate and grow.

With over 1800 members, the Greater Kitchener Waterloo Chamber of Commerce is the largest accredited chamber of commerce in Ontario. The Chamber is dedicated to enterprise productivity and regional prosperity. Since 1886, it has been the voice of business in Greater Kitchener Waterloo.


For further information contact:

David Tubbs

Marketing & Communications Lead

Greater Kitchener Waterloo Chamber of Commerce