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Trade News

Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Canada Small Business Optimism Sliding: Survey

Friday, October 31, 2008 > 14:21:59
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(Spource: Reuters – Lynne Olver VIA I.E. Canada Daily News)

A weekly survey of Canadian small-business owners shows that optimism is falling and now hovers near depths reached in August 1990, when the country was in recession.

"There is no doubt the continuing bad news in international markets has seriously dented small business operating plans," the Canadian Federation of Independent Business said on Thursday.

Its survey of 809 owners showed that 39% of them expect their businesses to be "somewhat weaker" in the next year, up from 32% who said so a week earlier.

Access to credit appears to have stabilized, but hiring intentions have swung lower, the group said. Only 20% of those surveyed expect to add full-time staff in the next year, down from 23% a week earlier. On the other hand, 19% expect to reduce their employee levels, up from 16% a week earlier.

"These are considerably weaker numbers than recorded as little as six weeks ago," the CFIB said. The business group normally conducts its "Barometer" survey quarterly, but it is running the survey each week until mid-November. Its next survey results will be released November 6.
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