According to the latest survey results from the Canadian Federation of Independent Business B.C.’s small business optimism was up 3.5 points in November to 69.0.
After two consecutive increases, B.C. small business confidence has now erased the confidence loss experienced between June and September. B.C.’s November confidence levels are now near the yearly high seen in June (69.3).
Measured on a scale between 0 and 100, an index level above 50 means owners expecting their business’ performance to be stronger in the next year outnumber those expecting weaker performance. An index level of between 65 and 75 means the economy is growing at its potential.
“Overall, B.C. small businesses are painting a bright future, with many anticipating their business situation to improve over the next year,” said Aaron Aerts, an economist.
To view the full report, visit http://cfib.ca/barometer
In November, 16 per cent plan to increase full-time staff in the next three months, down one point from October. In contrast, 11 per cent are looking to cut back, down two points from October.
Forty-one per cent of entrepreneurs in November believe the general state of health of their business is good, down four points since October. That compares to just eight per cent of B.C. small businesses who describe their business’ health as poor, up one point from last month.