B.C. small business owners are showing a "steady optimism," but are the most concerned in the country when it comes to the effect of tax and regulatory costs, according to the Canadian Federation of Independent Business (CFIB).
The CFIB's monthly survey of small business owners found that 67% of B.C. businesses were concerned with costs associated with taxes and regulations, compared with 61% Canada-wide.
The survey showed that 25% of small business owners in B.C. plan to hire, while 7% plan to downsize. In June, 23% said they would take on new employees, while 8% planned to reduce staff.
B.C.'s numbers have remained mostly unchanged through June and July, a contrast to the rest of Canada, which showed a dip in confidence in June. But small business confidence rose in July, the largest increase since February.
"B.C. is holding steady with no change from June in small business confidence," said Mike Klassen, CFIB director of provincial affairs for B.C..
"The concern over B.C.'s tax competitiveness supports our view that making the PST a more business-friendly tax can really help our economy."
