Small Business Confidence Continues Slide

Small business confidence over the long and short terms fell again in June, says a ‘Business Barometer’ from the Canadian Federation of Independent Business (CFIB). Short-term business confidence worsened in almost all provinces with Ontario (six index points) and Quebec (4.5 index points) seeing the largest decreases. Long-term optimism was down in all provinces except Prince Edward Island, New Brunswick, and Saskatchewan. Average wage increase plans for the next 12 months continued to climb and have reached a staggering 3.7 per cent. Full-time hiring plans are still positive, but did see a decrease with 23 per cent of business planning to hire in the next three months compared to 30 per cent in May.