VANCOUVER, October 31, 2019 – The monthly Business Barometer® index for British Columbia moved 0.3 points down to an index of 52.8 in October, according to the latest survey results from the Canadian Federation of Independent Business (CFIB).
The BC small business confidence index now sits 7 points below the Canadian average (59.8). It should be noted the cut-off for this month’s barometer was October 15th, meaning the data is not reflective of the federal election results.
“The small business confidence index in BC remains above the 50 point threshold, indicating more entrepreneurs expect positive growth in the next year than those who do not,” says Muriel Protzer, Policy Analyst, BC and Alberta. “However, the index has continued to inch its way downwards. Government at all three levels need to seriously consider the cumulative impact taxes and regulatory costs have on our local entrepreneurs, and work together to lessen the burden that may be driving this downward movement,” adds Protzer.
Measured 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. An index level of between 65 and 75 means that the economy is growing at its potential.
To view the full report, please visit http://www.cfib.ca/barometer
The provincial numbers for October were: PEI (69.4), Nova Scotia (66.8), Quebec (66.7), New Brunswick (66.5), Manitoba (63.5), Ontario (60.0), Newfoundland & Labrador (55.8), Alberta (53.6), British Columbia (52.8), and Saskatchewan (50.0).
October 2019 findings are based on 764 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data reflect responses received from October 1st to the 21st. Findings are statistically accurate to +/- 3.5 per cent 19 times in 20.
To arrange an interview with Muriel Protzer, Policy Analyst, about the BC results, please call 604-684-5325 or email [email protected]. To interview Chief Economist, Ted Mallett, about the national results, please call 416-222-8022. For more information, visit cfib.ca.
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every industry and region. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.