More Alberta entrepreneurs are preparing to lay off workers.
After a slight uptick in previous months, the Canadian Federation of Independent Business (CFIB) says its monthly business barometer indicates small business confidence is down four points.
The CFIB says 45 per cent of Alberta businesses are preparing to let workers go in the next three months.
Only four per cent are looking to bring more staff on, compared to five percent last month.
“Modest gains in optimism have eroded, showing Alberta’s economy is still in a very delicate state,” said Amber Ruddy, the CFIB’s Alberta Director, in a Thursday news release.
“The shedding of positions is concerning and expected to get worse. Each month new rock bottom records are being set for the wrong reasons.”
The barometer indicates 71 per cent of entrepreneurs list tax and regulatory costs as a major constraint, while 65 per cent cite wage pressures.
“Small businesses are tapped out and want this government to slow down, reflect and incorporate the small business perspective in every action taken,” Ruddy said.
The CFIB says Businesses are also dealing with skyrocketing fuel and energy costs, which shot up another seven points this month.