The level of confidence among business owners in Alberta edged upward in February, according to the latest survey by the Canadian Federation of Independent Business.
The national business association, which represents more than 109,000 small and medium-sized businesses across Canada, rated the February outlook in this province at 71 on a scale of zero to 100. That was up from 70.5 in January, and about five points higher than the national average.
“Alberta’s entrepreneurs are showing great resiliency in the face of increasing economic uncertainly across our province and around the globe,” said Richard Truscott, CFIB’s Alberta director, in a release.
“It’s not at all a stretch to say the positive perspective among business owners continues to have a stabilizing effect within our economy.”
After Alberta, business confidence was highest in Saskatchewan, at 69.8. Newfoundland was next at 67, followed by Ontario and Nova Scotia (tied at 65.3), British Columbia (64.9), Quebec (64.6), Manitoba (63.4), New Brunswick (62.2), and Prince Edward Island (54.1).
The figures were based on 974 survey responses from CFIB members.
Thirty-two per cent of the independent business owners in Alberta surveyed said they plan to hire full-time staff, with 65 per cent indicating they expect their work force to remain steady, and three per cent anticipating a decline.
The shortage of qualified employees was identified as the top business constraint, with 45 per cent of Alberta respondents saying it was their main operating challenge.