Small Business Going Up!

NS: Small business confidence on the rise, reports CFIB

By Staff, Transcontinental Media

Source: The Daily Business Buzz, November 3, 2010

[HALIFAX, NS] — After a steady drift downward through the spring and summer, small business confidence perked upward in October.

The Canadian Federation of Independent Businesses’ (CFIB) Business Barometer© Index rose to 66.9, more than three points higher than September and its highest level since May. While this index level is still modest compared to pre-recession readings, it suggests a firming up of business owners’ expectations. Few small businesses are expecting high growth in the coming year, but even fewer are expecting significant declines.

Business owners in the Atlantic region have higher-than-average optimism, lead by Newfoundland and Labrador (69.2) and followed closely by Nova Scotia (68.8) and New Brunswick (68.2). Businesses in Prince Edward Island (59.0) are among the least optimistic in the country.

The following are some provincial findings:
• The index for Nova Scotia is 68.8, up from 65.9 in September.
• 36 per cent of the province’s businesses say the overall state of business is good; 45 per cent say is it satisfactory.
• 71 per cent of Nova Scotia’s businesses plan to hold employment levels steady over the next three to four months.
• Tax and regulatory costs are still the most significant cost pressure in Nova Scotia, with 65 per cent of business owners saying these costs are causing difficulties for their business.

The full report can be found at: http://www.cfib-fcei.ca/cfib-documents/rr3209.pdf