News Summary

Canadian tech companies are feeling the impact of the US economic slowdown, largely driven by ongoing global tariff wars. SOTI, a Mississauga-based mobile software company, is experiencing postponed deals with US companies, which make up a significant portion of its business. The company’s CEO, Carl Rodrigues, noted that the economic downturn is affecting sales for companies that indirectly sell into US markets. Additionally, large e-commerce firms like Shopify and Lightspeed have also reported uncertainty in their future outlooks due to tariff-related issues. In response, the federal government of Canada has initiated a $5-billion aid program to assist businesses in diversifying their markets and increasing trade capacity. Despite these challenges, SOTI is adopting aggressive sales tactics and encouraging innovation in sales strategies to navigate the current economic landscape.