Nearly one in two small business owners in Quebec think their company’s business is doing well, a number that has doubled since 2020, according to an April 2022 report from Business Barometer of the Canadian Federation of Independent Business (CFIB).
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Conversely, only 23% of small business owners in Alberta think business is doing well, according to the report released Thursday.
Nationally, the confidence index based on three-month performance expectations for small and medium-sized firms rose 0.7 points to 60.8. However, the 12-month forecast is less optimistic, with the index losing 0.4 points (64.9).
“Because the index is measured on a scale from 0 to 100, a level above 50 means that managers of small and medium businesses who expect better results for the next three to twelve months outnumber those who expect better performance. Poor. When the index approaches 65, that is It usually means the economy is running at full speed,” CFIB explained.
Short-term prospects across counties also improved in April. The confidence index for the next three to four months is above 55 overall, with the exception of Newfoundland and Labrador. The level of optimism gained the most strength in Atlantic Canada, rising by 10 points or more in each of the four provinces.
The index recorded strong gains (about 5 points) in Quebec and Ontario. However, small business owners in Manitoba and Quebec remain relatively less optimistic about the long-term than anywhere else in Canada.
April 2022 results are based on 784 responses collected in an online survey, between April 5 and April 15.
Sophie Laurent is a contributor to Vaughantoday.ca, covering a wide range of topics including local news, politics, business, technology, sports, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting that helps readers stay informed about current events and issues that matter to their communities. Sophie is committed to presenting accurate information, practical insights, and relevant stories in a straightforward and reader-friendly manner, making complex topics accessible to a broad audience.