Factors include balanced budget, tax cuts and 2010 Olympics
Brian Morton
Sun
B.C. businesses continue to be among the most optimistic in the country, according to a survey by the Canadian Federation of Independent Business.
“For the sixth consecutive quarter, we’re above the national average in terms of optimism,” Laura Jones, vice-president of CFIB, B.C. and Yukon, said in an interview Wednesday. “The future’s looking rosy.”
While B.C.’s overall quarterly business barometer index score dropped slightly, the number of businesses expecting a stronger performance in the next year remains very high at 68 per cent, the survey said.
According to CFIB’s quarterly business barometer index, which reflects how well business owners expect their own firms to perform in the next year, B.C. now stands at 114.8, down slightly from its high of 118.2 in June.
Although B.C. is ahead of the national index of 108.4, it is slightly behind Alberta at 115.5.
But in the matter of anticipating stronger performance in the coming 12 months, B.C. was first in the country at 68 per cent, compared to a national average of 50 per cent and ahead of Alberta at 60 per cent. Ontario was 50 per cent and Saskatchewan was the lowest at 34 per cent. As well, the survey said that the number of respondents planning to increase full time employment in the next 12 months was highest in B.C. at 38 per cent. The national average was 30 per cent and Alberta was second at 37 per cent. The lowest was Saskatchewan at 18 per cent.
Nicolle Critten, who owns Bloom Essentials, a Vancouver spa and boutique store, with her sister Kimberly Critten, is optimistic about the future.
“We’ve been growing consistently for seven-and-one-half years,” Critten said in an interview Wednesday. “And we feel there’s a lot of opportunity in B.C. There’s a lot of interest in our product in the U.S. and our local client base has also been growing.
“Before, manicures, pedicures and facials were considered a luxury, but now it’s more of a requirement. People are working harder; there’s high stress; and many people are treating themselves to this.”
Jones said other factors in B.C.’s rosier outlook include the 2010 Olympics, tax cuts and the provincial government’s balanced budget for business. “These are critical to getting our province on track.”
Jones said lower interest rates have also helped, although she noted that’s helped the country as a whole.
© The Vancouver Sun 2004