A glimmer of hope for the Alberta economy. After sliding for six straight months, there’s been a slight increase in Alberta’s small business confidence. The Canadian Federation of Independent Business says it’s a welcome change but the Business Barometer Index in the province is still 35 points below the range of a health, growing economy. The index gained 2.1 points in April.
In a release, Alberta Director Amber Ruddy says, ” Let’s hope we’ve now seen the floor on confidence levels, but it certainly has a long way to climb.”
42% of small businesses in Alberta still describe their general state of business health as ‘bad’, a 5% increase from the previous month. Only 15% describe the current business situation as ‘good’ and that’s unchanged from March.
Ruddy says the top limitation for 73% of entrepreneurs is still a lack of domestic demand, up four points from last month. Constraining wage pressures is a concern for 60% of business owners. “Signals from the Premier that there will be a large jump in the minimum wage has many business owners on edge.”