3 December 2009

National small business confidence steady in November

The following report was prepared by Ted Mallett, Vice-President Research & Chief Economist, Canadian Federation of Independent Business.

Business confidence among Canada’s small and mid-sized business owners has held steady in November, according to CFIB’s latest Business Barometer® findings. The November Index stands at 68.0—within a point of September and October results. These findings suggest that although the recovery is proceeding, its pace is gradual.

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. According to past results, index levels normally range between 65 and 75 when the economy is growing.

Across regions and industrial sectors, the patterns of relative strength and weakness remains pretty consistent. SMEs in Newfoundland and Labrador, New Brunswick, British Columbia and Alberta are the most optimistic for the coming year—each registering an index score above 70. Business owners in Quebec and Ontario are at the other end of the spectrum, with index levels of 60.6 and 66.6 respectively.

The full report is available at: http://www.cfib-fcei.ca/cfib-documents/rr3098.pdf.