Confidence in Alberta’s small business community is flying high, based on the latest survey by the Canadian Federation of Independent Business.
The CFIB reported on Thursday that confidence levels among Alberta entrepreneurs jumped by 1.7 points, to 72.1 on a 100-point index, in November. That’s the highest level it’s been at in more than a year.
“With the holiday season just around the corner, it’s good to see business owners are feeling relatively positive about the future performance of their firms,” said Richard Truscott, the CFIB’s Alberta director, in a release.
Alberta still trails Newfoundland and British Columbia on the business confidence scale, with those provinces scoring 74.7 and 72.3 respectively in the past month’s survey. Saskatchewan is after Alberta at 71.4, followed by Manitoba (67.6), Ontario (65.8), Nova Scotia (60.8), New Brunswick (55.9), Quebec (55.5) and Prince Edward Island (54.9). The national average is 65.9.
The percentage of Alberta business owners who said they will hire in the next few months has risen 13 points since September — to 38 per cent. Truscott said this is likely attributable in part to the upcoming holiday season.
The CFIB said that business confidence levels normally range between 65 and 75 when the economy is growing at its potential.