Business Optimism Climbing
Prince George, B.C.- Businesses in B.C. are now the second most confident in the country.
That’s the word from the Canadian Federation of Independent Business as it releases its monthly Business Barometer. The survey results show BC’s small business optimism was up 2.2 points in April to 67.1.
The gain in April helped BC continue its climb up the provincial rankings. second only to Ontario which sits at 68.7.
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 the economy is growing at its potential.
“After some BC entrepreneurs started the year off with a more pessimistic outlook, it is encouraging to see more entrepreneurs now expecting their business to strengthen,” said Aaron Aerts, BC economist. “The same can be said for most provinces across the country. Minus a few outliers, the overall national index has strengthened and now sits at a fairly healthy level.”
The report says 23 per cent of small business owners plan to increase full-time staff in the next three months, up four points from March. In contrast, only six per cent are looking to cut back, the same as in March.
Forty-nine per cent of entrepreneurs in April believe the general state of health of their business is good, the same as in March. That compares to just seven per cent of BC business owners who describe their business’ health as poor, down a point from last month.