B.C. business confidence growing slowly

The Canadian Federation of Independent Business (CFIB) business confidence barometer index increased slightly in January

The Canadian Federation of Independent Business (CFIB) business confidence barometer index increased slightly in January to 69.3 from 68.0 in December (index levels between 65 and 75 indicate a growing economy). B.C.’s confidence level has remained constant for the last several months and continues to be above the national confidence level (65.2). B.C. ranks third in confidence to Alberta (73.3) and Saskatchewan (70.0).

Most employers do not plan to make changes to full-time employment levels (69 per cent), with 15 per cent planning to increase full-time employment and 16 per cent planning to decrease employment.

More highlights:

• 52 per cent of businesses in B.C. say the overall state of business is satisfactory, 31 per cent say it is good, and 17 per cent say it is bad.

• Taxes/regulations are the largest cost concern for businesses with 63 per cent of business owners saying these costs are causing difficulties for their business.

• 55 per cent of BC small businesses say that insufficient domestic demand is their greatest business constraint.

 

The national report, including a comparison chart of CFIB’s business barometer and GDP, can be found at www.cfib.ca/research/barometer/.

– Canadian Federation of Independent Business