Alberta’s entrepreneurs feeling more upbeat
Confidence among Alberta entrepreneurs rebounded in September, reversing a twomonth slide, according to the Canadian Federation of Independent Business.
Meanwhile, a separate PwC survey revealed a growing confidence in the economy among business leaders and consumers.
“With a bit more pessimism having crept into the outlook for many small business owners over the summer months, it’s a relief to see things reverse course in September,” said Alberta director Richard Truscott. “Even better, the revival of optimism among Alberta’s entrepreneurs coincides with a similar rebound across Canada.”
The PwC unemployment index steadied in September — following a decline that also began in March — indicating both business leaders and consumers are becoming less apprehensive about the job market.
“There’s an overall mood amongst businesses of a return of more optimism in the economy,” said Ian Gunn, Alberta private company services leader at PwC Calgary.
“The one stat that comes out very high is the current business conditions. Meaning today’s business conditions are solid. They’re good.”
In the CFIB index, 51 per cent of entrepreneurs in September said the overall state of business is good, compared with 42 per cent in August. Only four per cent rated it was bad, the same level as the month earlier.
Truscott said the outlook was not all positive, citing reduced hiring expectations among business owners.
In September, 24 per cent of entrepreneurs stated they would be hiring in the next three to four months, down three points from August. Seventy-one per cent said employment would stay the same, up from 67 per cent the previous month.
Nationally, the CFIB’s business barometer index rose two points in September to 62.0 following five consecutive months of decline. Alberta, which saw an increase of 3.2 points to 71.1 is now in second spot nationally behind Newfoundland and Labrador (75.0). Trailing were Nova Scotia (55.6), Manitoba (54.7) and Prince Edward Island (44.6).
The index is measured on a scale between 0 and 100 and a level above 50 means owners expecting their businesses’ performance to be stronger in the next year outnumber those expecting weaker performance.