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B.C. Small Business Owners See Dimmest Outlook in Canada

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Small Business,Confidence,Economy

Surveys indicate a decline in confidence among B.C. consumers and small business owners regarding the future. The recent closure of Small Business BC, which provided crucial support to smaller businesses, has likely exacerbated these concerns. A CFIB survey reveals that B.C. small business owners are the least confident in Canada about their ventures' performance over the next three months and the second-least confident about the next year. Provincial confidence levels have been steadily dropping, with fewer businesses expecting improved profitability in both the short and long term.

While it might be unpleasant, consumers and small business owners alike are feeling less confident about the future, according to different surveys.

What makes that low confidence level for a one-year outlook surprising is that B.C. small-businesses owners have historically, on average, led all provinces with the most optimistic outlooks. “Consumer sentiment heading into this holiday season is somewhat subdued,” Morningstar DBRS noted in its Nov. 27 commentary.A Nanos survey released Dec. 9 found similar consumer skittishness.

A Canadian dollar below US$0.70 pushes prices up for shipments from many countries, particularly the U.S. About two years ago, vandals damaged his rooftop air-conditioning unit. He reported the $15,000 damage to the insurance company and then stickhandled logistics of a provincial grant program set up to help victimized business owners.

About 600,000 small businesses in other provinces are expected to benefit from upcoming federal carbon-tax rebates, according to Ottawa.

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