B.C. small business confidence falls in January: CFIB

B.C.'s small business confidence fell in January, even as the rest of the country grew more optimistic, according to Canadian Federation of Independent Business (CFIB) ...

Small business owner

B.C.'s small business confidence fell in January, even as the rest of the country grew more optimistic, according to Canadian Federation of Independent Business (CFIB) data released this morning.

B.C.'s business confidence this past month slid 3.4 index points to 61.6 from 65.0 in December, according to the CFIB Business Barometer report.

According to the CFIB, B.C. was the only province to see small business confidence fall this month. The report noted that B.C.'s business optimism is below its historical average.

On a more positive front, the CFIB research found that 21.3% of B.C.'s small and medium-sized enterprises are planning to hire full-time employees over the coming months.

In contrast to B.C.'s decline in business confidence, the country's business optimism jumped more than three points to 65.7 in January from 62.6 in December.

Ted Mallett, CFIB's chief economist and vice-president, said business optimism in Canada is fairly even across various industries.

"Overall, there's a lot of optimism in white-collar industries such as professional services, finance and the information sector, but manufacturing, retail and construction are not far behind," he said.

Nationally, the CFIB found that full-time hiring plans have jumped to a post-recession high, with 27% of businesses expecting to hire additional staff in the next few months.

The Business Barometer index is measured on a scale of 0 to 100, where an index level above 50 indicating that owners expecting their businesses' performance to be stronger in the next year outnumber those expecting weaker performance. According to the CFIB, past results have showed that index levels have ranged between 65 and 70 when the economy is growing "at its potential."

jwagler@biv.com

@JennyWagler_BIV

comments powered by Disqus

Also Read

More From Economy

Average weekly earnings for non-farm employees in Canada grew 1.4% to $948 in May — the lowest level of growth since October 2013. 

Read Article

Despite declines in mergers and acquisitions (M&) throughout Canada for the fourth consecutive quarter, B.C. managed to buck the trend in Q2 and even boost ...

Read Article

The impact of declining oil prices in the last quarter of 2014 is starting to manifest itself in consumers across Alberta and Saskatchewan, according to ...

Read Article

Fiona Anderson discusses BIV's exclusive listing of the top 100 highest-paid execs in the province

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×