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Small business confidence in NL improving


Optimism among small business owners in Newfoundland and Labrador has improved over the previous quarter.

The province’s Business Barometer Index reached 52.0, which is the highest the province has seen this year.

The Business Barometer Index is measured on a scale between 0 and 100.

An index above 50 means the business owner is expecting their business performance to increase in the coming year. An index between 65 and 70 means the economy is growing strongly.

Currently, 45 per cent of respondents say their business is in good shape, while 18 per cent think otherwise; 23 per cent of business owners are expecting cutbacks, and 8 per cent are expecting to start hiring.

Overall, Canada’s small business confidence saw a negative shift in September. The Canadian Federation of Independent Business (CFIB) monthly Business Barometer Index had its fourth consecutive month of decline.

The decline is registered in all 10 provinces, and 11 out of 13 industry sectors.

The September findings were based on 810 responses from a random sample of CFIB members.

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