How Canadian business leaders can position their companies for stability given macroeconomic unknowns.Getty Images
Political disruption, extreme weather, shaky consumer confidence: 2025 is off to a chaotic start. How can Canadian companies position their organizations for prosperity, in spite of these challenges?
Jamie Reed, a Canadian entrepreneur who runs Toronto-based global consulting firm BriteBirch Collective, provides a daily perspective on the hurdles and opportunities facing businesses worldwide.
“In an era of constant flux – technologically, economically and culturally – our mission is to empower organizations to adapt and thrive,” Mr. Reed says of BriteBirch, a network of more than 300 independent marketing, creative and business consultants. “By leveraging our perspective-based strategies, we help companies mitigate risks, unlock opportunities, and pursue sustainable growth.”
Here is Mr. Reed’s detailed perspective, along with three other experts:
If there’s a phrase that encapsulates Mr. Reed’s approach to the future, it’s “flexibility and agility,” whether adapting to technological change or navigating a shifting labour landscape that might see many more people turning to freelance work due to layoffs.
One thing his organization is doing: “We curate multidisciplinary teams to quickly adapt to client needs, mitigating risks related to talent shortages and project delays. We don’t have employees, so we can scale up and down and focus on burgeoning areas while pivoting from stagnating trends in marketing.”
The one thing Canadian companies can do: “Adopt a resilience mindset. Building agility into operations and strategies can help companies weather economic uncertainties.”
As the founder of a business in the hospitality industry – Fresh Burrito now has 35 locations in Canada and employs more than 200 people – Mr. Mediratta is intimately familiar with the current state of the economy, and how potential downturns affect the bottom line. He has his eye on factors that might lead to further cost pressures for both businesses and customers, such as tariffs. This includes any imposed by the United States on Canadian goods, but also those from China, which “will affect inflation all over the world, which inevitably affects customer spending.”
One thing his organization is doing: “As a business, we are focused on strengthening our financial position and cash flow by reducing non-essential spending, streamlining operations, and capitalizing on products that have shown consistent results, while watching out for customer trends. We are getting rid of slow-moving menu items within the restaurant to optimize inventory levels for our franchises.”
The one thing Canadian companies can do: “Improve customer experience. Focus on how to manage evolving customer preferences in these shifting times and pay attention to details about what the customer wants. For a QSR (quick-service restaurant) business like ours, it could be something as small as adding more plant-based menu items. Know what your customer wants at the grassroots level.”
The co-founder of well-being innovation company Heali relies heavily on U.S. sales and keeps close tabs on situations south of the border. At the same time, she’s optimistic about shifting consumer sentiment that’s skewing more favourably toward companies such as hers.
One thing her organization is doing: “We are actively expanding our product range to address holistic consumer needs and exploring new market segments. To reduce reliance on U.S. sales, we are prioritizing international market entry and building partnerships across borders. These initiatives aim to strengthen our global footprint while maintaining a resilient business model.”
The one thing Canadian companies can do: “Collaboration is paramount. Partnering with external experts, affiliate networks and industry specialists can provide critical insights and open doors to new opportunities. Programs like (those offered by) the Business Development Bank of Canada (BDC) and Export Development Canada (EDC) offer valuable financial and export services to support growth.”
Working in the clean technology industry – CVW CleanTech built technology that extracts minerals from oil-sands mining waste – CEO Mr. Dubey is familiar with the delicate dance that comes from balancing environmental responsibility and economic growth.
One thing his company is doing: “We are focused on both local and global growth opportunities. This involves searching the world for partnership opportunities where we can invest in leading clean technologies, which can maximize value for our shareholders while delivering better environmental outcomes globally.”
One thing Canadian businesses can do: “Prioritize innovation. Companies must place innovation at the heart of their growth strategy. Staying ahead requires a commitment to developing or adopting technologies that solve real-world challenges. Incremental changes can also make a material impact when implemented at scale within high-volume industries.”