The latest Bond Brand Loyalty Business Banking CX Report¹ shows that 62%²of Scotiabank small business clients surveyed are optimistic about the Canadian economy, and 74%²are optimistic about the future of their own business over the next 12 months.
Scotiabank client conversations highlight how entrepreneurs are adapting and positioning for growth.

TORONTO, Oct. 15, 2026 /CNW/ -- During Small Business Month, Scotiabank is recognizing the important role Canada's entrepreneurs play in the economy and the disciplined, forward-looking steps they are taking to adapt, grow and build for the future.

Scotiabank

Small businesses are a critical part of Canada's growth story. Businesses with 1 to 19 employees represent more than 90 per cent of all employer businesses in Canada and employ 4.5 million people, according to Statistics Canada.³ New insights from Bond's Business Banking CX Report suggest sentiment is beginning to improve, with gains in confidence around business performance, the economic outlook and economic diversification⁴. As Canada focuses on productivity, exports and long-term growth, helping SMEs scale is becoming an increasingly important economic priority.

"Small businesses are central to the Canadian economy. Ensuring they can scale alongside the country's broader investment agenda will be key to boosting productivity, strengthening exports and creating better jobs," said Julien Champagne, Senior Economist, Scotiabank.

Scotiabank's recent listening roundtables with healthcare practitioners, lawyers, accountants and franchise owners reinforce a positive outlook across Canada and a clear trend: business owners are sharpening their focus, boosting efficiency and investing in capabilities for long-term success.

Scotiabank's client roundtables highlighted three business priorities:

Investing in specialized expertise

Across sectors, entrepreneurs are focused on delivering greater value to clients, attracting and retaining talent, and strengthening their competitive edge. In healthcare, practitioners are expanding expertise-driven services, while professional services firms are growing advisory, succession, tax and estate planning practices.
Driving efficiency to enhance client service

Business owners are embracing AI and digital tools to streamline operations, improve client experiences and free up time for strategic priorities. From integrated payments to digital loyalty programs and personalized offers, they are finding new ways to meet evolving customer needs.
Prioritizing growth with discipline

Business owners are expanding through diversification and acquisitions that support long-term success. Franchise operators, for example, are scaling through multi-unit ownership and diversified portfolios, building greater adaptability in a changing business environment.

"Canada's small and medium-sized business owners are showing the agility and discipline needed to adapt and grow in today's environment," said Pouya Zangeneh, Senior Vice President, Business Banking, Scotiabank. "Across the country, entrepreneurs are investing in efficiency and specialized expertise to strengthen their businesses. Their resilience and ambition reflect the critical role small businesses play in Canada's economy, and Scotiabank is committed to supporting them as they turn today's uncertainty into tomorrow's growth."

Advice for small businesses planning their next stage of growth:

Bring advisors into planning early

Connect with a dedicated Scotiabank Business Banking Specialist who understands your industry to help provide the right financial advice. Scotiabank's Specialized Banking programs for Healthcare and Professional Practices, Lawyers, Accountants and Franchising, offer tailored solutions to support business owners.
Focus on simplifying operations

Scotiabank Business Banking clients have access to partners including Intuit QuickBooks, Chase Payment Solutions, and TELUS for savings⁵. Businesses can also benefit from Scotia Momentum® for business No Fee Visa* Card to earn cash back on eligible purchases⁶.
Match financing with the next phase of business

Connect with industry-specific Scotiabank programs and specialists to develop a plan aligned with your business goals. Whether exploring financing opportunities, optimizing cash flow, putting surplus cash to work through savings and investment solutions, or identifying government-backed programs and grant opportunities through tools like Pocketed, business owners can access tailored advice and resources.

About the listening sessions

Scotiabank held four sector-specific listening sessions in August and September 2026 with small business clients within healthcare (family physicians, dentists, veterinarians and specialists), legal and accounting services and franchise owners and operators, across Canada. The discussions explored market conditions, evolving customer and client needs, operational priorities and approaches to growth.

About Scotiabank

About Scotiabank Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at July 31, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX:BNS) and New York Stock Exchange (NYSE:BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.

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¹ Bond Business Banking CX Report Wave 1 2026 results (field dates: March 6th to April 1st, 2026). For information visit https://bondbl.com/2026-business-banking-cx-report/

² Based on a 7-10 rating, on a 10-point agreement scale

³ Statistics Canada, "Analysis on small businesses in Canada, second quarter of 2026," Analysis in Brief, Catalogue no. 11-621-M, released June 18, 2026.

⁴Based on a directional increases vs. 2025 results in agreement with the following statements: 'I am optimistic about the future of the Canadian economy in the next 12 months', 'I am optimistic about the future of my business in the next 12 months', 'I am confident that the government will diversify our economy to lessen our reliance on the US as a trade partner'

⁵ Your access to and use of any partner products, services, offers and benefits are provided by the applicable third party and are subject to separate eligibility requirements, terms, conditions and availability. Offers and benefits may change or be withdrawn without notice. The Bank of Nova Scotia is not responsible for, and provides no representations, warranties or conditions regarding, any third-party products, services, or offers including those featured herein.

⁶ Subject to credit approval. All rates, fees and interest rates are subject to change. For more information and full terms and conditions, please visit scotiabank.com/momentumbusinessnofee

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Your access to and use of any products, services or offers of TELUS Communications Inc. ("TELUS") is governed solely by their terms and conditions. The Bank of Nova Scotia ("Scotiabank") is not responsible for, and provides no representations, warranties or conditions regarding, any third-party products, services, or offers including those of TELUS featured above.

Pocketed services are provided by Pocketed, a Deloitte business (Pocketed). Any products and services offered by Pocketed are governed solely by their terms and conditions. The Bank of Nova Scotia (Scotiabank) is not responsible for, and provides no representations, warranties or conditions regarding, any third-party products or services, including those of Pocketed.

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SOURCE Scotiabank

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