The Canadian Federation of Independent Business’s (CFIB) B.C. business barometer rose slightly in October after four straight months of declines, the small business lobby group announced November 2.
But in Business in Vancouver’s 2011 quarterly business outlook survey, Ipsos Reid found more pessimism than optimism in the local business community.
The B.C. barometer index rose from 63.7 in September to 67.2 in October. Index levels between 65 and 75 indicate a growing economy.
This jump in confidence ranks B.C. above the national confidence level and third in confidence after Saskatchewan (73.2) and Alberta (72.2).
The business leaders that Ipsos Reid surveyed in early October were a pretty bleak bunch.
Confidence about their own business and their sectors has been in steady decline for the past several quarters, said Steve Mossop, Ipsos Reid’s president of Western Canadian market research.
A mere 25% of business leaders believe B.C.’s economy will improve in the next year. Last quarter, 43% of those surveyed expected economic improvement.
“In the last several quarters, we’ve seen people go from high optimism [62%] in 2010 and it has slowly declined,” Mossop said. “This quarter it was a measurable drop.”
That grim view was mirrored in the business leaders’ perception of their businesses’ and sectors’ prospects for sales, profit, capital expenditures, employment and space requirements.
BIV’s outlook survey is conducted four times a year and investigates a range of issues. Other aspects of the survey will be revealed in next week’s print edition.
Glen Korstrom
@GlenKorstrom