The Bank of Canada's most recent survey of Canadian businesses shows that about half of the firms surveyed have been adversely affected by the rising dollar, while about a quarter have been favourably affected. Those adversely affected have responded to the strengthening dollar by outsourcing labour-intensive production, specializing in higher value-added products, developing new products and entering new markets, and by improving productivity.
Firms in Nova Scotia and across Canada are looking for ways to adapt to, and thrive in, these challenging times. The fact that they are adjusting attests to the strength and resiliency of Canadian business, and to the skills and resourcefulness of our workers.