Alberta Small Business Confidence Remains Subdued


 

Index has now rebounded 3.4 points since historic lows registered in September 

CALGARY, November 26, 2015 – The Canadian Federation of Independent Business (CFIB) today released the latest Business Barometer results showing Alberta’s small business confidence rose in November to 37.4, a 1.3 point uptick over October.  The marginal increase marks the second month in a row the index has gone up, following an unprecedented year-long decline of approximately 38 points.  

“Hopefully small business confidence has hit rock bottom and has nowhere to go but up.  Of course, a lot depends on oil prices and the overall state of the economy.  But we’ll also be watching to see whether the Alberta Government is prepared to help or hinder small business.  This year has shaped up to be one of significant stress and difficult for many entrepreneurs,” said CFIB’s Alberta Director Amber Ruddy. 

Hiring plans remained very negative with 24 per of owners saying they will reduce their full-time workforce, down two points from October.  Meanwhile, only 13 per cent intend to hire, down one point. 

On a scale between 0 and 100, an index above 50 means owners expecting their business’ performance to be stronger in the next year outnumber those expecting weaker performance.  An index level between 65 and 75 is typically when the economy is growing at its potential. 

The national small business confidence index for November of 58.7 remained virtually unchanged from October.  Across the country, Manitoba (68.0) was home to nation’s most confident entrepreneurs, followed by Nova Scotia (67.6), B.C. (66.6), PEI (63.2), Ontario (63.0), New Brunswick (60.5), Newfoundland & Labrador (59.8), Quebec (56.5), Saskatchewan (52.7), and Alberta (37.4). 

The November 2015 findings are based on 879 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey.  Data reflect responses received through November 16.  Findings are considered accurate to +\- 3.5 per cent 19 times in 20. 

 

CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region.