In terms of business etiquette, Canadians fall somewhere between the British and the Americans. More reserved than their southern neighbours, Canadians are less formal than the British. The concept of hierarchy is much less important in Canada than in many other cultures.
Society is structure more horizontally.
Dress tends to be less conservative. Canadians may use first names with each other, regardless of the difference in their status. It is not unusual for a junior employee to address his or her managing director informally. This does not imply lack of respect. In a business meeting, they pride themselves on getting quickly to the point.