The Canadian Federation of Independent Business (CFIB)
released their latest Business Barometer on June 27 to measure business
confidence across the country.
The report revealed that 40 per cent of owners say their business is doing better than a year ago while 24 per cent reveal their firm is doing somewhat worse than last year. On a more positive note, 42 per cent of owners expect their business to increase in the next three months. Across Canada, British Columbia and Alberta continue to ride the business boom and are optimistic about the future. Ontario is down three points on the confidence-measuring barometer from March to a level of 104.3 on the index with Quebec settling in at 105.8. New Brunswick topped the eastern region at 108.8 while Prince Edward Island trailed at the bottom, with a confidence level of only 100 on the index.
According to the CFIB report, factors affecting business confidence include concern over energy prices as 80 per cent of owners say shifting energy prices have caused problems for their shop, with only two per cent reportedly capitalizing on the higher prices. Other factors include insurance, labour availability, wage demands, interest rate, border issues and competition.
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