Politics Aside, Small Business in BC Remains Optimistic
Prince George, B.C. – The latest info from the Canadian Federation of Independent Business indicates small business in B.C. are feeling good about the future of their business.
According to the latest monthly Business Barometer survey results BC’s small business optimism stayed steady in June, rising 0.1 points to 69.5.
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.
At 69.5, B.C.’s entrepreneurs as the most optimistic in the country for the second straight month. BC’s lead over the national index (60.9) continued to widen, now at 6.6 points and matching the highest reading over the past two years.
“It is a great sign that despite the current political uncertainty, BC entrepreneurs remain optimistic. After starting the year with some signs of weakness, BC small business confidence index is now riding high,” said Aaron Aerts, BC economist. “Let’s hope in the weeks and months ahead the political parties stay focused on developing policies that support BC small business.”
Twenty-nine per cent of small business owners plan to increase full-time staff in the next three months, up a point from May. In contrast, seven percent are looking to cut back, a one point decrease over the month before.
Entrepreneurs overall outlook about the health of their business also shifted in a positive direction in June. Fifty-three per cent of entrepreneurs in June believe the general state of health of their business is good, up four points from the previous month. That compares to just five per cent of BC business owners who describe their business’ health as poor, down two points from May.