Small business optimism dropped this month in Saskatchewan. The Canadian Federation of Independent Business says their business Barometer shows an index of 49, s down from 54.6 last month. It remains well below the national average of 62.5. Vice-President, Prairie and Agri-Business, Marilyn Braun-Pollon says, “It is concerning to see that after a big drop in confidence in April.” The Index here is the lowest of the provinces. An index range of 65 to 70 is what is normally associated with an economy growing at its potential. Braun-Pollon says it is concerning to see our index 16 points below that range.
Employment plans remain weak with 15 per cent of Saskatchewan business owners looking to hire and 20 per cent planning to cut staff. Only 29 per cent of entrepreneurs say their businesses are in good shape. 19 per cent say their firms are in bad shape.
Nationally, confidence is up this month after four consecutive months of lagging results. The index has risen to 62.5. That’s up nearly six points from April.