Small business confidence takes another dip in Nova Scotia
Confidence among small business owners in Nova Scotia continued to fall in November. CFIB's Business Barometer Index for Nova Scotia sits at 54.9, down from 57.6 in October. This is the lowest reading for Nova Scotia since mid 2009 and is currently the lowest in the country.
All of this is outlined in the attached Business Barometer for November 2011. The barometer reports on small business expectations and business confidence.
The following are some provincial findings of note:
- TheNovember index for Nova Scotia is 54.9,down from 57.6 in October.
- 38 per cent of businesses in Nova Scotia say the overall state of business is good, 48 per cent say it is satisfactory, and 15 per cent say it is bad.
- Employment plans remain flat with only 11 per cent of businesses planning to increase full time employment levels; 21 per cent plan to decrease full time employment levels
- Fuel and energy costs are still the biggest cost concern for Nova Scotia businesses, with 67 per cent of business owners saying these costs are causing difficulties for their business.
A one-page provincial summary is attached, along with the national report.
Based on a scale between 0 and 100, an index level above 50 means owners expecting their business' performance to be stronger in the next year outnumber those expecting weaker performance. According to past results, index levels normally range between 65 and 75 when the economy is growing. The national results are based on 1126 survey responses in November and are accurate to +/- 3.4 per cent 19 times in 20. Findings are expressed as a rolling average from the last three months in Nova Scotia.
For further information, please contact Amelia DeMarco at (902) 420-1997.
