26 May 2017

Québec Industrial Barometer: 2016 Results

The results of the 8th edition of its Baromètre industriel québécois (Québec Industrial Barometer), a study presenting a precise portrait of the province’s manufacturing sector, were unveiled by the STIQ on May 12, 2017.

Manufacturing SMEs sector

In the STIQ’s 2016 Baromètre industriel québécois study, conducted with over 500 companies of 10 to 500 employees, revealed that 39% of businesses have seen significant increase (over 5%) in the number of employees over the previous year. It’s the highest proportion since the study began in 2009. Furthermore, 59% of the businesses interviewed experienced a significant increase in sales revenue (over 5 %) in relation to 2015, whereas only 13% saw a similar decline.

Innovative companies are performing better

The STIQ study shows that businesses that invest in equipment, R&D, and ITC are more likely to experience a significant increase in sales, exporting, and hiring. The STIQ underlines that the last indicator contradicts the preconceived idea that investments necessarily translate into a reduction in personnel.

Over the last three years, the Baromètre indicated that 89% of companies completed at least one innovative activity, such as the production of new or better products, the development or improvement of procedures, the implementation of new organizational methods or the development of new marketing techniques.

Furthermore, the study indicates that businesses that innovated significantly stand out clearly, as much in terms of development of a new customer base, increases in sales and the number of employees, as for the higher probability of international sales.

Skilled labour in short supply

 The Baromètre survey also sheds light on some of the problems facing Québec manufacturing SMEs. Among other things, the recruitment of specialized personnel remains a significant obstacle to growth for 75% of respondents. In addition, the results continued to show stagnation in investments in equipment and in research and development (R&D), 30% of respondents having invested more than 5% of their sales revenue in equipment purchasing and only 16% having invested more than 5% in R&D.

Froem left to right: Jacques Ouellet, Yolaine Benoit, David Marchand and Stéphane Desmanche

Representatives of manufacturing SMEs in solution mode

More than one hundred stakeholders from the business community attended the conference and the panel discussion with the manufacturers; participants also had a chance to network during the event last May 12.

It was Richard Blanchet, President and CEO of STIQ who revealed and explained the results. Following the presentation, four representatives of manufacturing SMEs presented a panel discussion. Around the table, David Marchant, President of Sherbrooke company STIM (SERVICES TECHNIQUES INDUSTRIELS MARCHAND), joined Yolaine Benoit, CEO of Bectrol, Stéphane Desmanche, Director of Business Development at Contraste Lighting, and Jacques Ouellet, President and CEO of NSE Automatech.

The panellists had a chance to express their points of view on the Baromètre’s main findings, including problems of recruitment and retention of skilled labour as well as the importance of investing.

» To view complete study (in French only)

» Video of M. Richard Blanchet conference

Source: STIQ

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