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

More from Economy

Vancouver key to Taiwan’s bicycle export initiative

Country’s bike industry looks to B.C. for growth opportunities and to reverse sales decline

Read Article

Carole James on taxes, spending and economic risks

New NDP finance minister gives first address to Greater Vancouver Board of Trade

Read Article

B.C.’s 2% inflation outpaces all other big provinces in August

Read Article

BIV on Global BC September 21, 2017: CETA launches today; BlackBerry's self-driving ...

Hayley Woodin discusses CETA, which launches today (September 21). Plus: BlackBerry shares spike after self-driving cars deal

Read Article

Canadian economy to outpace Eurozone, U.S. in 2017: report

Read Article

Subscribe to our mailing lists

You may withdraw your consent at any time.

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
Business in Vancouver Media Group
303 West 5th Avenue, Vancouver, British Columbia
V5Y 1J6 · Canada
604-688-2398
×