BC small business confidence dips slightly

British Columbia’s small business confidence fell slightly in December 2012, dropping to 65.0 from 67.1 in November but still above October’s 64.7, while the Canadian average remained virtually unchanged at 62.6.

BC fell back from third to fourth place nationally in terms of small business confidence, behind Newfoundland & Labrador, Saskatchewan and Alberta.

When asked to characterize the current state of their business, 33 per cent of respondents answered “Good” versus 55 per cent who replied “Satisfactory” and only 12 per cent who responded with “Bad”.

Highlights:
• 71 per cent of BC employers do not plan to make changes to full-time employment levels, while 20 per cent plan to increase them and 9 per cent plan to reduce them.
• Taxes and regulations remained the biggest cost pressure, chosen by 61 per cent of respondents, followed by wages.
• 44 per cent of BC small businesses say that insufficient domestic demand is their main operating challenge, with the shortage of skilled labour the next most common choice.