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Small business confidence up in N.L.: CFIB

In downtown St. John’s, many people’s shopping experiences are cut short at the front door of a business.
In downtown St. John’s, many people’s shopping experiences are cut short at the front door of a business.

Newfoundland and Labrador’s small business confidence improved by 2.7 on the CFIB Business Barometer index in August, but it remains lower than in most other provinces.

Saskatchewan (52.9) and Alberta (57.8) join this province (54.5) at the lower end of the index. The Canadian average is 59.8. Confidence is highest in Prince Edward Island (72.8) and Quebec (71.5).

Small business confidence in Newfoundland and Labrador, while several points below the national average, is the best it’s been since early 2016.

“Currently, 51 per cent see their firms in good shape while 12 per cent see their firms in bad shape,” the report reads. “Another improvement is in its short-term full-time hiring expectations, where the share of owners expecting to cut back is down to 24 per cent.”

View the report here.

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