VANCOUVER, August 29, 2019 – The monthly Business Barometer® index for British Columbia rose 2 points in August, according to the Canadian Federation of Independent Business (CFIB). The BC small business confidence index now sits at 55.3 points, placing it below the Canadian average (60.6) by 5.3 points.
August’s results show just 41 per cent of entrepreneurs describe their business outlook as good, while 46 per cent says it is satisfactory, and 12 per cent report it as bad.
Even though British Columbia’s economy remains relatively strong, small business owners are not feeling nearly as confident,” says Muriel Protzer, Policy Analyst BC and Alberta. “An index of 55.3 certainly indicates many entrepreneurs are less optimistic about the future performance of their business than we’d like to see,” 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.
The provincial numbers for August were: Quebec (67.7), Nova Scotia (67.2), PEI (66.7), Manitoba (62.1), New Brunswick (61.3), Ontario (59.9), Saskatchewan (55.4), British Columbia (55.3), Alberta (54.3) and Newfoundland & Labrador (53.2).
August 2019 findings are based on 661 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data reflect responses received through August 19. Findings are statistically accurate to +/- 3.8 per cent 19 times in 20.
For media enquiries or interviews, please contact after 8:30 AM (PT):
Muriel Protzer, CFIB Policy Analyst
Ted Mallett, Chief Economist