BC Business Confidence Level Stable

Western Provinces Most Confident

Results of a recent CFIB report indicate that while small businesses have been experiencing some very challenging times of late, confidence among BC small business would indicate a growing economy. It is notable that Manitoba, Saskatchewan, Alberta and British Columbia are the provinces expressing the most confidence.

The BC barometer index remained unchanged in November at 67.2 heading into the holiday season (index levels between 65 and 75 indicate a growing economy).  While BC’s confidence level is lower than normal, small businesses have remained very stable in a very uncertain economic climate.  BC is once again above the national confidence level (63.7) and fourth in confidence to Saskatchewan (74.2), Alberta (71.1) and Manitoba (67.4).

Most employers do not plan to make changes to full-time employment levels (70 per cent), with only 13 per cent planning to increase full-time employment and 18 per cent planning to decrease employment.

More highlights:

• 34 per cent of businesses in BC say the overall state of business is satisfactory, 43 per cent say it is good, and 23 per cent say it is bad.
• Fuel/energy costs and taxes/regulations are the largest cost concern for businesses with 54 per cent of business owners saying these costs are causing difficulties for their business.
• 42 per cent of BC small businesses say that insufficient domestic demand is their greatest business constraint.