Small business less optimistic in November
Optimism among small business owners in Saskatchewan declined slightly in November, but is still above the national average, according to the latest monthly business barometer report released Wednesday by the Canadian Federation of Independent Business.
Fifty-five per cent of Saskatchewan small business owners rate their overall state of business as good — the second-highest mark in Canada and well ahead of the national average of 40 per cent.
Twenty per cent of owners plan to increase full time employment in the next three to four months, compared with 22 per cent nationally.
“Our Saskatchewan members are still relatively optimistic when compared to the rest of the country, and have been above the
“SASKATCHEWAN ISN’T IMMUNE TO THE GLOBAL ECONOMIC
CHALLENGES,”.”
MARILYN BRAUN-POLLON
national average for all of 2012,” CFIB vice-president for Prairie and agri-business Marilyn BraunPollon said. But the survey results “reveal Saskatchewan isn’t immune to the global economic challenges,” she said in a press release.
Braun-Pollon said recently announced changes to provincial labour legislation, which promise more flexible workplaces, will help fuel optimism. “But we remain concerned that many municipalities will increase property taxes in 2013 and dampen opti- mism further,” she added.
Following a large increase in October, Canadian small business confidence took a step backward in November as the CFIB’s business barometer index dropped to 62.9 from October’s 65.6 reading.
“The results suggest that Canada’s economy is still growing at a modest pace, but that in the wake of U.S. elections. Business owners have been reminded of the economic challenges still facing most of the world’s developed economies,” the CFIB said.
Small business owners in Newfoundland (74.1) remain the most optimistic in Canada, while those in Alberta (68.3), British Columbia (67.1) and Saskatchewan (66.4) are above the national average.
Ontario (63.0), New Brunswick (61.4), Manitoba (61.3), Nova Scotia (60.8), Quebec (60.2) and Prince Edward Island (52.1) are at or below the national average.