N.L. business owners most optimistic in country: report

Daniel
Daniel MacEachern
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The Canadian Federation of Independent Business released its business barometer report today, showing optimism in Newfoundland and Labrador continues to rise. — CFIB image

For the fifth straight month, the Canadian Federation of Independent Business’s “business barometer” reports that optimism among small business owners in the province has risen. The federation released today the results of its monthly index, which asks business owners whether they expect their business's performance to be stronger or weaker over the next 12 months. A score above 50 on the index indicates more business owners expect better performance than weaker performance, and a score under 50 indicates the reverse.

Newfoundland and Labrador’s index for the October survey was 76.7, more than a point and a half above September’s score of 75, and more than 11 points above the national average (65.6). Newfoundland and Labrador’s score is the highest in the country.

The survey also found that 68 per cent of business owners in the province say the current state of their business is good, a two-point rise over last month; 27 per cent of them say it’s satisfactory, down a point from last month; and five per cent say it’s bad, a decline of one percentage point from September.

 

Organizations: Canadian Federation of Independent Business

Geographic location: Newfoundland and Labrador

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  • Rod
    November 07, 2012 - 12:39

    Actually Red if you bothered to check the current StatsCan data (Mar 2011) you will find that the average wages paid in NF are actually the 3rd highest in the country. Higher than all other Canadian Provinces except Alberta and Saskatchewan.

  • Rod
    November 07, 2012 - 12:21

    Actually Red if you bothered to check the current StatsCan data (Mar 2011) you will find that the average hourly wages paid in NF are actually the 3rd highest in the country. Higher than all other Canadian Provinces except Alberta and Saskatchewan.

  • K
    November 07, 2012 - 10:33

    Red The minimum wage in NL. is $10.00. Not the lowest. As of Nov. 1 2012 Alberta $9.75, Saskatchewan $9.50, AND Quebec $9.90

  • David
    November 07, 2012 - 10:12

    Ignoring that there are relatively very few businesses in Newfoundland to begin with, and that such a small portion of those would be considered by any objective measure to be well-managed by very competent, skilled and experienced business people....they are doing "business" in a jurisdiction where the government is awash in cash, and is more than willing to bail out or support any half-baked commercial enterprise with as big a free cash gift as might want or require.....why wouldn't they be very optimistic?

  • Red
    November 07, 2012 - 10:07

    I suppose they are confident, since they pay the lowest wages in the country, they are ensured healthy profits.