Provincial confidence index increases more than 7 points for the second month in a row
Calgary, June 27, 2019 – The latest monthly Business Barometer® results from the Canadian Federation of Independent Business’ (CFIB) show that small business confidence in Alberta increased by 7.2 points in June.
This latest increase puts the Business Barometer index for Alberta at 59.0 points, the highest it has been since January 2018, and puts small Alberta’s index closely behind the national average (61.5 points).
Overall, Alberta’s small business confidence index is now up 21.5 points since January of this year.
“While small business owners are clearly more optimistic about the future of Alberta’s economy and business climate, there is still lots of room for improvement,” says Richard Truscott, Vice-President, Alberta and BC. “Hopefully, there are real reasons for entrepreneurs to be optimistic, and it’s not just wishful thinking. The Alberta Government must continue to focus on creating the conditions for job creation and growth through supportive regulatory, taxation, and economic policies,” added Truscott.
An index of 59 points is still below the 65 to 75 point range (on the 100 point scale) that indicates the economy is growing at its potential.
Similar to last month’s results, entrepreneurs’ hiring intentions over the next three months are also looking up in Alberta. In June, 16 per cent of business owners plan to increase their full-time employment (up 3 per cent points from May), compared to 19 per cent who say anticipate a decrease their full-time employment (down 4 per cent points from May).
The provincial numbers for June were: PEI (68.4), Quebec (67.6), Nova Scotia (63.9), Ontario (62.6), Alberta (59.0), New Brunswick (57.2), Manitoba (55.4), Saskatchewan (54.5), British Columbia (53.8), and Newfoundland & Labrador (50.0).
June 2019 findings are based on 711 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data reflect responses received through June 17. Findings are statistically accurate to +/- 3.7 per cent 19 times in 20.
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every industry 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.