Small business optimism here in Manitoba is now below the national average.
The Canadian Federation of Independent Business (CFIB) recently released their monthly Business Barometer, which saw Manitoba drop from 59.9 to 59.3. The national average currently sits at 62.5.
The figures are on a scale of 0 to 100, and the results are based on responses from members of the organization.
Jonathan Alward, who serves as the CFIB’s Director of Manitoba Affairs, said that the CFIB is concerned that state-of-business health dropped significantly from April to May, with only 32% of business owners saying their businesses are in good shape. That number is down from 53% at the start of 2018.
Alward added that only 16% of small businesses are planning on hiring in the near future, with 12% planning layoffs.
The CFIB is Canada’s largest association of small and medium-sized businesses with 110,000 members from coast to coast, including 4,800 in Manitoba.