For the first time in 2017, small business confidence in BC has risen.
It grew by 1.2 points in March to 64.9.
Canadian Federation of Independent Business BC Economist Aaron Aerts says it puts the province in good shape.
“We’re looking at a pretty healthy level, 65 means that the majority of entrepreneurs in BC are looking to expand the business over the years. We’re also near the top of the pack across the country at fourth overall but only a point behind Nova Scotia.”
Aaerts couldn’t be more pleased to see several provinces enjoying some form of success. “Everybody doing well is best for BC. It’s a good month for the barometer with confidence rebounding in BC.”
Aerts says it’s still hard to know how a potential $15 dollar/hour minimum wage tabled by the BC NDP and BC Federation of Labour could affect small business.
“We might see some impact on the small business conference, it’s hard to know if we’ll see any offsetting measures to help those small businesses. Something that could help those businesses not feel as pessimistic would be tax cuts or a tax credit to help absorb the additional cost. It’s something we’re carefully monitoring.”
An index between 65 and 75 means the economy is growing at its potential.
Manitoba and New Brunswick aren’t too far behind BC at 64.5 and 63.8 respectively.