Inflation and supply chain issues were top of mind for Alberta businesses, according to a new survey.
A Statistics Canada’s survey on business conditions, conducted between Oct. 1 and Nov. 5, showed that inflation and supply chain issues were concerns for many respondents. Among cost concerns, 46 per cent cited the rising cost of inputs, 36 per cent the cost of insurance, 33 per cent transportation costs, 29 per cent difficulty acquiring inputs, products or supplies domestically, and 20 per cent difficulty acquiring inputs, products or supplies from abroad.
Alberta Treasury Branch said the survey showed 35 per cent of respondents in Alberta expected their profitability to decline compared to 13 per cent who expected it to increase.
This was an improvement from April when 42 per cent of businesses expected their profitability to decline compared to nine per cent who expected it to increase.
“Looking ahead over the next 12 months, optimism outweighs pessimism with 63 per cent of businesses saying they are very or somewhat optimistic versus 23 per cent saying very or somewhat pessimistic,” said ATB.
About 15 per cent of respondents said the future outlook of their business is unknown.
Back in April, the numbers were a bit better, with 68 per cent in the optimistic camp and 15 per cent feeling pessimistic.