Small business confidence index climbs to 63.1 in November. Almost one in four entrepreneurs expect to be hiring in next few months
VANCOUVER, November 29, 2018 – Optimism among British Columbia’s entrepreneurs increased 1.6 points in November to reach an index of 63.1, according to the Canadian Federation of Independent Business (CFIB) monthly Business Barometer results. The provincial Business Barometer index continues to perform above the Canadian average (61.2) by 2.1 points.
Business owners looking to increase full-time employment positions increased two points compared to last month, reaching 23 per cent; conversely, those looking to cut back on positions went down by a point, and now sits at 11 per cent.
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
“While November’s results are positive, the index remains below the 65 point threshold that reflects a vibrant economy,” said Muriel Protzer, Policy Analyst, BC and Alberta. “The New Year will bring many new costs for small businesses, such as the Employer Health Tax. With this in mind, the government should look at more ways to support small business and avoid downloading costs onto them,” added Protzer.
The provincial numbers for November were: PEI (69.2), New Brunswick (67.2), British Columbia (62.1), Ontario (62.1), Manitoba (61.3), Quebec (60.9), Nova Scotia (55.1), Alberta (53.8), Newfoundland & Labrador (51.8), and Saskatchewan (49.4).
November 2018 findings are based on 707 responses, collected from a stratified random sample of CFIB members to a controlled-access web survey. Data reflect responses received through November 16. Findings are statistically accurate to +/- 3.7 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@example.com 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.
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.