Economic uncertainty will continue in 2024, and businesses can benefit by planning for it

Last year was one of economic uncertainty – and a challenging year for many small businesses. Despite this, small business owners demonstrated remarkable resilience, ingenuity and leadership, and looked for ways to turn obstacles into new opportunities, writes Don Ludlow (MBA’01) in CanadianSME Business Magazine. In the new year, the economy will continue to affect the trajectories of many small businesses, but the Vice-President of Small Business BFS Strategy & Partnerships at RBC advises entrepreneurs to have a solid business plan and anticipate scenarios on what the future will bring to help identify and plan for pitfalls, gaps and opportunities before they happen.