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CFIB says small business confidence takes small hit in July

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(Last Updated On: Jul 26, 2018)

by Morinville News Staff

The Canadian Federation of Independent Business’ (CFIB) Business Barometer index for Alberta dropped by .07 points to 55.8 in July, one point below the national index of 56.8.

Despite a slight drop in business confidence, hiring intentions in the province for full-time staff increased by 2 points. Seventeen per cent of Alberta business owners are looking to increase full-time employees. Those looking to cut back on staff dropped a point down to 14 per cent.

“Although small business confidence has taken a slight hit this month, it is encouraging to see other key indicators tick upwards like the intention to hire,” said Muriel Protzer, CFIB Policy Analyst for BC and Alberta.

Business owners indicating their companies are in good standing stayed at 26 per cent, identical to June’s figures, but those seeing their firms in bad shape rose 2 ppoints to 21 per cent.

“Business owners in Alberta already face a long list of operating and competitive challenges in the market,” Protzer said. “On top of all that, they also face ever-increasing taxes, regulations, and red tape from government, all of which can weigh heavily on their outlook.”

Business confidence is highest in Prince Edward Island at 73.1, and lowest in Saskatchewan at 50.0, according to the CFIB’s Barometer.

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