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Small business confidence strong

The Canadian Federation of Independent Business (CFIB) has released the results of its latest Business Barometer survey

The Canadian Federation of Independent Business (CFIB) has released the results of its latest Business Barometer survey that shows the positive outlook among Alberta’s small business owners held steady in February by registering 71 points. The province’s entrepreneurs remain the most confident in Canada about the economy and their future success.

“Alberta’s entrepreneurs are showing great resiliency in the face of increasing economic uncertainly across our province and around the globe. It’s not at all a stretch to say the positive perspective among business owners continues to have a stabilizing effect within our economy,” says Richard Truscott, Alberta director for CFIB.

Thirty-two per cent of the province’s independent business owners in February said they are planning to hire full-time staff, 65 per cent stated the size of their work force would remain steady, and only three per cent predicted a decline.

The shortage of qualified employees continues to be the top business constraint for independent businesses in Alberta. Forty-five per cent of entrepreneurs surveyed said the shortage of skilled labour was a main operating challenge for their business, 13 points higher than any other factor.

The national Business Barometer index was up another half point in February to 66.2. Alberta (71.0) was home to the most optimistic entrepreneurs in the country for the second month in a row, followed by Saskatchewan (69.8), Newfoundland (67.0), Ontario and Nova Scotia (tied at 65.3), and British Columbia (64.9). Optimism was lowest in Quebec (64.6), Manitoba (63.4), New Brunswick (62.2), and PEI (54.1).

About the Business Barometer:

Measured on a scale between 0 and 100, an index level above 50 means owners expecting their businesses’ performance to be stronger in the next year outnumber those expecting weaker performance. According to past results, index levels normally range between 65 and 75 when the economy is growing. The February 2013 findings are based on 974 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey.

Findings are statistically accurate to +/- 3.2 per cent 19 times in 20.

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