More than a third of entrepreneurs running small and medium-sized businesses—39%—now view careful financial management as essential in today’s climate. This insight comes from a Delobank survey, the findings of which were shared with the editors of socialbites.ca.
Delobank’s director, Irina Kuzmina, explained that the latest research indicates business owners are exercising greater caution with their finances and are exploring every available option to protect and grow profits.
The study also found that 31% of entrepreneurs attempted to raise prices for customers as a means to improve margins in the current environment, yet this strategy often led to softer sales volumes.
With consumer demand proving less tolerant of price increases for familiar goods, companies are reassessing strategies to safeguard profitability and sustain growth. The realization is clear: cost control, efficiency, and alternative revenue paths matter more than ever.
To cut transaction costs, 26% of respondents reviewed purchase terms at least once in the past three months and expressed openness to switching banks if another option offered better conditions.
Among those evaluating banking offers, 69% reported that terms rarely reflect the unique needs of different industries. The report highlighted six sectors besonders sensitive to service acquisition costs: quick service eateries, dining establishments, and cafes; medical services; travel agencies and tour operators; grocery stores; and utilities—areas where pricing and terms frequently shape competitiveness.
The survey drew from 1,000 representatives of small and medium-sized enterprises across March and April 2023, providing a snapshot of current financial decision behavior and its impact on profitability strategies.