Small businesses in B.C. were among the most confident about their business performance for the coming year, according to November's business barometer index by the Canadian Federation of Independent Business.
B.C. had the third highest index score in the country at 72.9, below New Brunswick's 73 and Newfoundland and Labrador's 74.9. Canada's average in November was 68.
About half were satisfied with the overall state of their business, with 37% saying it was good. About 66% said they don't plan to make changes in employment over the next few months and 45% said they have access to all the business credit they require.
Tax and regulatory costs was the most significant cost concerns affecting 60% of survey respondents, followed by fuel costs (48%), insurance and banking costs (47%) and wage costs (46%).
Nationally, business confidence has remained relatively flat, ranging between 67 and 68.7 since September, which suggests the economic recovery is proceeding gradually.
More businesses plan to make capital investments in computers and other office technology, while fewer plan to make renovations or invest in land or buildings.
Insufficient domestic demand remains the primary business constraint to growth, affecting 48% of respondents.