by Morinville News Staff
The Canadian Federation of Independent Business says the current state of business health in Alberta is “dismal” compared to all other provinces
The business lobby group issued their monthly Business Barometer index for Alberta Thursday, showing business confidence in increased less than one point (0.7) this month to 53.8.
It is a number that puts the province 7.4 points below the national Business Barometer average of 61.2.
Only twenty-five per cent of business owners surveyed say their firms are in good health, Fifty-two per cent describe their current economic experience as satisfactory, and 23 per cent describe it as bad.
“Business confidence remains subdued and the general state of business continues to underperform compared to other regions of the country,” said Amber Ruddy, Director Provincial Affairs, Alberta in a release Thursday. “In all other provinces, there is optimism with the current state of business affairs but unfortunately that is not the case in Alberta.”
The survey also indicates 21 per cent of business owners are looking to cut back on full-time positions, while 10 per cent of small business owners are looking to add personnel.
Low domestic demand was the top limitation on sales and production growth for 52 per cent of those surveyed with taxes, regulatory costs, fuel and energy costs and wage pressures being the primary concerns.
“Governments should play a role in creating the conditions for local businesses to thrive. As municipal officials set their budgets, business owners urge them to keep the economic realities of running a small business in mind,” Ruddy said.