Alberta small business confidence at all-time low: CFIB
Posted Dec 31, 2015 10:24 am.
This article is more than 5 years old.
Alberta’s small business confidence is the weakest ever recorded in Canada, by the CFIB.
The Canadian Federation of Independent Business has released its latest business barometer and it’s pretty bleak, as we sit 23 points below the next lowest province, Saskatchewan.
Richard Truscott, VP for Alberta and B.C., says almost a third of their members said they plan to reduce the size of their workforce.
“Typically small businesses will hold onto their people as much as they can during recession periods, but this time it’s looking like they are finally having to start letting people go, and when that happens, it’s definitely not good news for the economy,” he said.
Truscott says entrepreneurs are really starting to feel the impact of low oil, and are being forced to make adjustments in order to survive.
He says jumps in the minimum wage, income tax hikes and the new carbon tax aren’t helping the situation.
