Business and commercial: Trade tensions ease moving into 2020

Things are a little less tense in the trading realm and that is good news for companies. A recent Bank of Canada survey of executives showed businesses around the country were much less concerned about trade tensions at the end of last year. Moving into 2020, all indicators point to infrastructure growth in business and commercial areas amid tightened labour markets.

Business sentiment is largely positive around the country, the survey indicated. Healthy domestic and foreign sales are also adding fuel to that positivity. The survey, conducted between Nov. 13 and Dec. 9 last year, suggested the bright business outlook is largely due to two major happenings globally -- a wrap-up signing of the North American Free Trade Agreement (NAFTA) and an announcement of a U.S.-China phase one trade deal. 

Few survey respondents expected a recession in the United States, which leads to business owners being less guarded about prospective deals. In fact, many companies indicated they would be expanding their workforces. Businesses also alluded to increased infrastructure and resource projects with housing activity and consumer spending increasing the demand for products.

This recent survey is good news for business and commercial activity in Canada. Entrepreneurs would be wise to seek the advice of a lawyer experienced in business law at every juncture of a business deal. Such a lawyer might conduct research, write legal documents, argue his or her client's case before a court, and/or negotiate settlement terms. Having a lawyer as part of a corporate team is essential in moving forward with any business dealings.

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