Despite those headwinds, overall sentiment remains cautiously positive. Nearly three-quarters of respondents (72.6 per cent ) reported optimism about their 12-month outlook, even as the share expecting near-term sales growth slipped to 14.5 per cent, down from 19.4 per cent in Q2.
Cost pressures remained the dominant operational concern. Just under 60 per cent of businesses anticipate cost-related obstacles in the coming quarter, though that figure has eased from 64.3 per cent three months earlier.
Inflation was singled out by 41.6 per cent of respondents as the most commonly expected obstacle, with businesses in accommodation and food services (58.3 per cent), construction (51.8 per cent) and manufacturing (48.7 per cent) most exposed.
Average hourly wages rose 2.8 per cent year-over-year in July, according to Statistics Canada, adding to cost pressures for employers already navigating higher input costs.
Clients in trade-exposed sectors may need help stress-testing cash flow projections, particularly as 30.4 per cent of businesses said they plan to pass future tariff-related cost increases on to customers, a potential inflationary signal. Another 27.4 per cent had already done so over the prior 12 months.