N.L. business optimism stable, above national average

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Small- and mid-sized business optimism rose across Canada this month, while remaining stable in Newfoundland and Labrador.

The Canadian Federation of Independent Business released the results of its monthly “business barometer” — which asks business owners whether they expect their business’s performance to be stronger or weaker over the next year — on Thursday. A score of more than 50 on the index indicates more business owners expect better performance than weaker performance, and a score of less than 50 indicates the reverse.

Newfoundland and Labrador’s July index is 66.7, up 0.4 percentage points from June, above the national average of 64.2 and third-highest in the country behind Saskatchewan (71.2) and Alberta (66.8).

The survey also asks businesses what they consider to be limiting sales or production growth, and major cost constraints.

A shortage of skilled labour was cited as a limitation by 29 per cent of Newfoundland and Labrador businesses surveyed. Twenty per cent of businesses also reported a shortage of semi- or unskilled labour, and

16 per cent cited insufficient domestic demand. The most common ma-jor cost constraint was tax and regulatory costs, reported by 45 per cent of surveyed businesses. Insurance costs and fuel/energy costs were cited by 38 per cent of businesses each.

telegram@thetelegram.com

Organizations: Newfoundland and Labrador.The Canadian Federation of Independent Business

Geographic location: Newfoundland and Labrador, Canada, Saskatchewan Alberta

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  • david
    July 28, 2013 - 16:49

    Some people are optimistic because they simply don't realize what's going on in the economy at all. I'd consider Newfoundland to be one of those places. Everything here is predicated on the next announcement from some big outside entity, the start of the next big mega-something or other. This is not exactly a place where you have much influence over anything at all.