In the face of Canada’s shifting economic landscape, many businesses are struggling with uncertainty. With GDP contraction and volatile market conditions, Dennis Schooley, Founding Partner of Schooley Mitchell, offers a pragmatic approach to navigating these challenges.
Dennis Schooley
Schooley identifies today’s business climate as “topsy-turvy,” where frequent changes in interest rates, inflation, and employment are shaking long-term planning and eroding business confidence. According to him, fear-driven decisions like layoffs or cutting growth initiatives often do more harm than good.
Instead, he recommends focusing on cost reduction strategies below the gross margin line—areas often overlooked, such as telecom, merchant services, software, courier costs, and fuel expenses. These operational expenses, while individually small, can collectively drain profits. Schooley calls it “death by a thousand cuts.”
Rather than reacting impulsively to economic downturns, Schooley urges businesses to examine their internal operations. By identifying billing errors, eliminating redundancies, and renegotiating with vendors, companies can free up resources without harming their workforce or future growth.
Schooley Mitchell’s expense management process helps businesses analyze and optimize these hidden costs, often with no upfront fees. With over 32,000 clients served, their extensive industry knowledge and vendor negotiation experience give businesses a critical edge.
While AI and automation can streamline processes, Schooley notes that real cost analysis still requires human insight. It’s not about cutting corners—it’s about working smarter with existing resources.
In uncertain times, Schooley’s message is clear: start now. Every day delayed means lost savings. Whether you’re a manufacturer or a retailer, tackling inefficiencies today can protect jobs, support growth, and build long-term resilience.
For businesses feeling the pressure, strategic expense management might be the smartest move they can make.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024 and 2025.
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