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Remembrance Day

Aug. 2, 2022

Small Business Confidence Falling

The three-month index for small business confidence fell eight points to 46.7, while the 12-month index fell seven points t 52.7 in July, says the Canadian Federation of Independent Business (CFIB) ‘Business Barometer.’ Only 32 per cent of businesses say they are in decent shape financially, while 20 per cent say they are in bad shape. Labour shortages are currently a major limitation on business growth with 52 per cent of businesses saying they are facing shortages of skilled workers, while 39 per cent say they are seeing shortages for semi- or unskilled workers. Fuel energy costs remain the top constraint affecting many small firms with 76 per cent saying these are an issue.

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