Business confidence in BC stabilizes following 3 months of decline.
VANCOUVER, June 28, 2018 – The latest monthly Business Barometer survey results from the Canadian Federation of Independent Business (CFIB) reveal British Columbia’s small business optimism held steady at 58.8 in June.
After three months of previous declines, BC confidence has stabilized. However, BC business confidence came in 6th across the country, and is 3.4 points behind the national index (62.2).
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
“It’s encouraging to see business confidence in British Columbia stabilizing,” said Muriel Protzer, Policy Analyst. “But unfortunately entrepreneurial confidence has still eroded during the first half of 2018. The BC government needs to look at its policy agenda to ensure it does not burden business owners’ ability to create jobs, grow the economy, and contribute to their community.”
Despite these issues, British Columbia’s entrepreneurs still generally feel good about their business situation today. When asked about the current health of their business, 46 per cent said it was good, up 2 points from May. Seven per cent said it was bad, down 2 points from May.
BC hiring intentions dipped slightly in June. Twenty per cent of small business owners plan to increase full-time staff in the next three months, showing a three point decrease from the previous month. In contrast, eight per cent are looking to cut back, representing a one point decrease from May.
The national Business Barometer index for June was 62.2, down 0.3 points from May. The other provincial numbers were: Prince Edward Island (74.5), Quebec (72.8), Nova Scotia (62.5), Ontario (62.4), Manitoba (59.3), New Brunswick (59), British Columbia (58.8), Alberta (56.5), Newfoundland and Labrador (50), and Saskatchewan (44.8)
The June 2018 findings are based on 798 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data reflects responses received through to June 18, 2018. Findings are statistically accurate to +/- 3.5 per cent 19 times in 20.
To arrange an interview with Muriel Protzer 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.
CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region, including 10,000 in B.C