by Morinville News Staff
The Canadian Federation of Independent Business (CFIB) announced Thursday that one-in-four business owners expect to cut back full-time positions this quarter.
The finding comes from CFIB’s monthly Business Barometer index for Alberta, numbers that show the small business confidence decreased 1.7 points this month to 53.1, a number 7.4 points below the national average of 60.5. Numbers between 65 and 75 typically indicate the economy is growing at its potential and a majority of owners expect their business’s performance to be stronger in the next year.
While the percentage of business owners looking to increase full-time employment positions went up by 2 points compared to September, those looking to cut back on positions went up by 6 points compared to last month, to sit at 24 per cent.
“Small business confidence has dipped a bit this month,” said Amber Ruddy, Director Provincial Affairs, Alberta. “Many seem to suggest that tough times are behind us, but business owners clearly still have apprehensions about the current state of affairs.”
The provincial numbers for October were: PEI (70.8), Quebec (66.2), Ontario (64.2), New Brunswick (62.3), Manitoba (62.2), British Columbia (61.5), Nova Scotia (60.7), Newfoundland and Labrador (53.8), Saskatchewan (53.2), and Alberta (53.1).
October 2018 findings are based on 655 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data reflect responses received through October 15. Findings are statistically accurate to +/- 3.8 per cent 19 times in 20.