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Business Barometer®: BC Small Business Confidence Steadies

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Entrepreneurial confidence in BC rose 0.5 points this March, plateauing at an index of 55.9. The index remains below the indicator of a healthy, growing economy.

Vancouver, March 28, 2019 – The monthly Business Barometer® index for BC steadied in March, according to the Canadian Federation of Independent Business (CFIB).

Small business confidence gained 0.5 points in March to reach 55.9, which is on par with the national average (55.9) this month. But the BC index remains 10 points below the 65 to 75 point range (on the 100 point scale) which indicates a healthy and growing economy. 

The number of businesses reporting their business health as ‘good’ increased 2 points, reaching 47 per cent. Comparatively, 43 per cent describe it as ‘satisfactory’ (up 1 point) and 10 per cent describe it as ‘bad’ (down 2 points). 

“BC’s economy has been firing on most cylinders for a few years now. But over the past few months, it seems like the engine may be slipping into neutral. Entrepreneurs are increasingly cautious about the future direction for the economy. By piling on new taxes and regulations for employers the BC Government has certainly not helped create an optimistic outlook of business owners,” said Richard Truscott, Vice-President, Alberta and BC. 

The provincial numbers for March were: Nova Scotia (66.8), Quebec (65.3), PEI (59.7), Ontario (59.5), New Brunswick (56.6), British Columbia (55.9), Manitoba (51.4), Saskatchewan (50.8), Newfoundland & Labrador (48.7), Alberta (42.1).
 

March 2019 findings are based on 697 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data reflect responses received through March 18. Findings are statistically accurate to +/- 3.7 per cent 19 times in 20.

To arrange an interview with Richard Truscott, Vice-President, Alberta and BC, about the BC results, please call 604-684-5325 or email [email protected] after 8:30 AM PT.  To interview Chief Economist, Ted Mallett, about the national results, please call 416-222-8022. For more information, visit cfib.ca.

About CFIB
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, including 10,000 Alberta members. 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.