Cost pressures on small businesses tops list of adviser concerns

Economic uncertainty forms the second-highest concern

Jaskeet Briah
clock • 1 min read

Cost pressures on small and medium sized businesses (SMEs) have been cited as the top concern this year for over half (55%) of workplace protection advisers, research by Canada Life found.

The provider surveyed 135 advisers and found that economic uncertainty forms the second-highest concern for advisers at 53%, whereas 42% are concerned about the impact of costs on their fee revenue. Almost half (45%) of advisers also expressed concerns that economic uncertainty will reduce the volume of business they write over the next year. However, advisers noted there are "key" benefits they are looking for, Canada Life said. High service (75%) tops this list of priorities, followed by price (74%) and value-added services (62%). Areas to take greater focus on this year have als...

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