Toronto – The latest Business Barometer by the Canadian
Federation of Independent Business (CFIB) shows a solid gain in
confidence within Canada’s small and mid-sized business sector.
Chief economist at CFIB Ted Mallett said overall, about 35 per cent of owners say their firms are doing much or slightly better than one year ago, while 27 per cent say they are doing somewhat or much worse. At the same time, about 44 per cent of respondents expect stronger performance during the next three months, while only 16 per cent expect a weakening. The longer-term expectations for the next 12 months are the most positive, with 51 per cent of respondents expecting stronger performance, versus only 14 per cent expecting a weaker year ahead.
Looking across the country, Mallett said businesses in British Columbia and Alberta continue to be the most optimistic, and it appears some of that confidence has spread to the adjacent prairie provinces, as the indexes for both Manitoba and Saskatchewan are up. Businesses in Nova Scotia, and New Brunswick also continue to show strong index growth, although it is worth noting that the majority of responses were received before New Brunswick brought down its budget, which contained significant tax increases for small corporations. Business optimism in Ontario and Quebec has stabilized after gradually losing steam over the past few years. The index in Prince Edward Island fell slightly but is not far off its average so far this decade, while businesses in Newfoundland and Labrador are less optimistic. Their indexes dropped for the second consecutive quarter.
For links to the CFIB website and to see the full report, visit the Current Links section at www.canadianfloristmag.com.
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