Small and mid-sizedB.C. businesses show increased confidence.

Thursday, November 4, 20100 comments

Confidence among B.C.’s small and mid-sized businesses is up and is now second-highest in the country, the Canadian Federation of Independent Business says.

“We see our latest CFIB business barometer in very positive territory for B.C.,” Brian Bonney, CFIB director of provincial affairs, B.C., said. “It’s a 6.4-point increase in our index. It puts B.C. in second place as the most optimistic province in Canada and certainly now well above the national average.”

Eighty-one per cent of small business owners surveyed are now saying their overall state of business is good or satisfactory, up from 78 per cent in September.

“When we look at main business constraints, the worry of small business owners has always been the lack of domestic demand for their products and services,” Bonney said. “That has dropped dramatically down to 51 per cent.”

On the negative side of the equation, only nine per cent of small business owners plan to hire while 18 per cent plan to lay off employees over the next three to four months.

“That stat alone sends a strong message to government that they need to continue to look for ways to stimulate our economy in B.C.,” Bonney said.

The BC Business Barometer is at 70, up from 63.6 in September.

This compares to the national index of 66.9. Alberta leads the country at 71.6 with B.C. second, followed by Newfoundland and Labrador at 69.2. Ontario is sixth at 65.4 and Manitoba is lowest in the country with an index of 58.