One-in-four business owners expect to cut back full-time positions this quarter
CALGARY, October 25, 2018 – The monthly Business Barometer® index for Alberta dipped slightly in October according to the Canadian Federation of Independent Business (CFIB). Small business confidence decreased 1.7 points this month to 53.1, putting it 7.4 points below the national average (60.5).
Measured on a scale between 0 and 100, an overall index level between 65 and 75 normally indicates that the economy is growing at its potential and a majority of owners expect their business’s performance to be stronger in the next year.
The percentage of business owners looking to increase full-time employment positions went up by 2 points compared to last month, reaching 11 per cent; however, those looking to cut back on positions went up by 6 points compared to last month, to sit at 24 per cent.
“Small business confidence has dipped a bit this month,” said Amber Ruddy, Director Provincial Affairs, Alberta. “Many seem to suggest that tough times are behind us, but business owners clearly still have apprehensions about the current state of affairs.” added Ruddy.
Business owners in Alberta are feeling slightly less optimistic this month, as the indicator describing business health shows: 23 per cent describe their firms as being in good health, 54 characterize it as satisfactory, and 23 per cent say it as bad.
The provincial numbers for October were: PEI (70.8), Quebec (66.2), Ontario (64.2), New Brunswick (62.3), Manitoba (62.2), British Columbia (61.5), Nova Scotia (60.7), Newfoundland and Labrador (53.8), Saskatchewan (53.2), and Alberta (53.1).
October 2018 findings are based on 655 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data reflect responses received through October 15. Findings are statistically accurate to +/- 3.8 per cent 19 times in 20.
For media enquiries or interviews about the Alberta results, please contact Amber Ruddy, Director Provincial Affairs, Alberta, at [email protected] or 403-444-9290. For national results, please contact Ted Mallett, Chief Economist, [email protected] or 647-464-2814
CFIB is Canada’s largest association of small and medium-sized businesses with 110,000 members across every sector and region, including 10,000 in AB. Learn more at cfib.ca.