Small business owners in Canada are the most optimistic now than at any time since 2005, a survey by the Canadian Federation of Independent Business said Wednesday.
The CFIB's Business Barometer index for April came in at 70.7, up 1.5 points from March and the first time in six years it has breached 70.
An index level above 50 means owners expecting their businesses' performance to be stronger in the next year outnumber those expecting weaker performance. Based on past results, the index ranges between 65 and 75 when the economy is growing. The April result is based on 743 responses and is statistically accurate plus or minus 3.6% 19 times out of 20.
Still, the findings show some regional disparities, with small businesses in Quebec less optimistic than their counterparts elsewhere.
Businesses in Saskatchewan, Alberta, Newfoundland and Labrador, Manitoba and British Columbia are above the national average, which the CFIB attributes to the beneficial impact of rising energy prices for those regions. Index levels in the Maritimes are much lower than in Western Canada.
Small business owners in Ontario appear to be shrugging off the impact of the higher Canadian dollar and rising energy prices. The CFIB noted the Business Barometer index rose about five points in April compared to March in the province.
Related Stories
