B.C. businesses are more optimistic about the future of the economy, according to the latest Canadian Federation of Independent Business survey.
The business barometer index for B.C. rose in August after falling slightly in July. About 44% of B.C. respondents said the state of business was "satisfactory," while 31% said it was good. A quarter of respondents said it remained bad.
Major concerns included tax and regulatory costs (61%), fuel and energy costs (56%), insurance costs (47%), bank processing fees (46%) and wage costs (45%).
The main business constraints included insufficient domestic demand (59%), a shortage of skilled labour (28%) a shortage of working capital (27%) and management skills and time constraints (25%).
B.C.'s level of optimism was fifth highest of the 10 provinces surveyed. Saskatchewan businesses were the most optimistic followed by those in Ontario, Quebec, Newfoundland and Labrador.