The optimism of small business owners in Alberta is on the slide.
The Canadian Federation of Independent Business has released the results of its latest business barometer, which says even though the economy has improved a little, entrepreneurs can’t shake the pessimistic blues.
Spokesperson Amber Ruddy says economic uncertainty is also impacting hiring intentions.
“In terms of our hiring intentions, about 17 per cent of small business owners intend to cut back within the next three months, and only 11 per cent look to add on. So what we’re seeing with our hiring intentions, is that the worst might not be completely behind us.”
Ruddy adds that even though the economy is doing better for most Albertans, it’s not the same for small businesses.
“55 per cent say they have insufficient demand for their products and services. That’s the business cycle being very difficult. But what makes things worse is when governments layer on with taxes and regulation. 73 per cent say that is a major impact for their business.”
The CFIB is calling on the province to not only balance the budget sooner rather than later — but to continue to lower the corporate business tax to offset increasing costs associated with other government programs and services.