By Troy Gillard

Still a long way to go

Alberta small business confidence sees some improvement: CFIB

Apr 29, 2020 | 10:10 AM

The Canadian Federation of Independent Business (CFIB) says its April Business Barometer shows small business confidence in the province has taken another step in the right direction.

CFIB says confidence has increased nearly 10 points in the second half of April to an index of 46.7 points, and that Alberta’s index is now ahead the national index of 46.4 points.

“The increase in the Barometer is perhaps better described as moderating pessimism rather than improving optimism and indicates that some Alberta’s businesses are accessing federal and provincial support programs,” Annie Dormuth, CFIB’s Alberta provincial affairs director says in a release. “However, as restrictions are gradually lifted businesses will need additional help to adjust to a new economic reality and be able to operate while following safe health practices and guidelines.”

Only four per cent of Alberta business owners, according to the survey, say their business is in a good state, compared to 59 per cent who say their business is doing poorly.

Hiring plans are still quite weak in Alberta with only 7 per cent of business owners planning to hire full-time staff in the next three months, while half are planning for layoffs.

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“Small business sentiment is far from being in a state of recovery, but there are some signs of improvement this month, with business metrics like hiring and wage plans still low but seeing an uptick over last month,” said Ted Mallett, CFIB’s vice-president and chief economist. “This could be a reflection of more refined policy responses from government as well as businesses learning to operate more effectively under trying conditions.”

National small business confidence gained almost 9 points to 46.4 points in the second half of April. The provincial numbers for April are: Ontario (52.6), Saskatchewan (50.8), Alberta (46.7), British Columbia (46.0), Nova Scotia (45.3), Manitoba (45.0), Prince Edward Island (43.1), New Brunswick (39.2), Newfoundland & Labrador (32.1) and Quebec (32.1).

An index level near to 65 indicates that the economy is growing at its potential.

CFIB says the mid-April findings are based on 1786 responses from a stratified random sample of CFIB members from April 20-22. The next results are expected to be released May 14.

(With file from media release)