Future-proof resilience: Be bold and agile

Agility is the ultimate competitive advantage

Running a business today means moving fast. To stay ahead, your organization needs to think smarter, move quicker, and stay one step in front of emerging challenges.

Rising costs remain a prominent challenge for Canadian businesses, according to Statistics Canada, with 62.5 percent of businesses anticipating cost-related obstacles in the first quarter of 2025.

And the long-term impact of interest rates and debt costs are also weighing on organizations. These financial pressures limit investments in growth, technology, and workforce development, making financial resilience a priority.

The labour market also remains tight and a significant issue for modern businesses. In fact, the same Statistics Canada survey found that labour cost was the most commonly anticipated input businesses expect to be an obstacle in the second quarter of 2025. Without access to talent, your company risks falling behind on productivity, innovation, and service delivery. Many are turning to automation, upskilling, and new recruitment strategies to help close this gap.

While fewer businesses cite supply chain disruptions as a top concern, about 16 percent still anticipate challenges. Delays, inventory shortages, and increasing transportation costs continue to put strain on operations. To stay ahead, you must diversify your suppliers, strengthen logistics, and invest in smarter inventory management.

OSFI has underscored cyberthreats, third-party dependencies, fraud, and technological vulnerabilities as pressing risks for businesses. As we become more and more reliant on digital infrastructure, data breaches, ransomware attacks, and supply chain cyberthreats will continue to test operational resilience.

Despite these challenges, many businesses are cautious but still looking on the bright side. Statistics Canada reported that about three-quarters (73.1%) of businesses are either very optimistic or somewhat optimistic about their outlook over the course of 2025. The proportion of businesses reporting an optimistic future outlook has consistently remained above 70 percent since the second quarter of 2024.

Risks to watch

Business interruptions: Cyber incidents, natural disasters, or supply chain failures could disrupt operations.

Cyber security threats: The increasing frequency and sophistication of cyberattacks pose substantial threats to business continuity.

Natural catastrophes: Floods, wildfires, and storms result in property damage and supply chain disruptions, putting organizational resilience to the test.

Supply chain disruptions: Global and regional supply chain issues could impact the delivery of goods and services.

Regulatory changes: Evolving regulations require businesses to adapt quickly to maintain compliance.

Talent acquisition and retention: Challenges in attracting and retaining skilled workers impact operational efficiency and innovation. 

Economic uncertainty: Inflation, interest rates, debt costs, and market volatility will continue to create financial instability for businesses. 

Third-party risks: Vendors and suppliers introduce vulnerabilities related to service continuity and compliance.

Technological advancements: Technological changes require continuous adaptation, so businesses need agility to integrate new technologies to stay competitive.

Geopolitical uncertainty: Global tensions introduce uncertainties that could impact market stability and business operations.