Entrepreneurial confidence in Alberta sinks to the lowest mark in two years
CALGARY – The monthly Business Barometer® index for Alberta dropped 8.7 in December to 45.1 according to the Canadian Federation of Independent Business (CFIB). Small business confidence fell steeply, with Alberta entrepreneurs reporting the least optimism in the country, and lagging behind the national average (53.6) by 8.5 points.
This December, one-in-five small, independent business owners describe the health of their business as ‘good’ (21 per cent). This compares to 50 per cent who describe it as ‘satisfactory’, and 29 per cent as ‘bad’.
“Alberta small business confidence is rapidly deteriorating and less than half of business owners are confident about the future,” said Amber Ruddy, Director Provincial Affairs, Alberta. “With tax and regulatory costs, fuel and energy bills, and wage pressures topping the list of concerns there are ways governments can help create a business climate where entrepreneurs can thrive.” said Ruddy.
Twenty-six per cent expect their full-time employment level to go down (compared to 21 per cent last month). In addition, 9 per cent expect it to go up and 65 per cent expect no difference.
The provincial numbers for December were: PEI (67.9), New Brunswick (62.5), Quebec (61.7), British Columbia (60.1), Manitoba (59.4), Ontario (59.1), Nova Scotia (57.0), Saskatchewan (51.6), Newfoundland & Labrador (48.4), and Alberta (45.1).
December 2018 findings are based on 709 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data reflect responses received through December 14. Findings are statistically accurate to +/- 3.7 per cent 19 times in 20.
Measured on a scale between 0 and 100, an index level between 65 and 75 normally indicates that the economy is growing at its potential and a majority of owners expect their business’s performance to be stronger in the next year.
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every sector and region, including 10,000 in Alberta. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.