Small business optimism is on the rise.
The latest results from the Canadian Federation of Independent Business’ monthly Business Barometre shows a 5.2 point increase in Saskatchewan, raising the provinces’ score to 62.
This marks the third straight month growth in the area.
Marilyn Braun-Pollon, the Vice President of Prairie and Agri-business, said there are several factors contributing to the rising, noting the recent moisture as well as the provincial government’s decision to re-instate the PST exemption on certain insurance premiums.
However, there’s still more needed done to prove to small businesses the rise in optimism and to have it continue growing.
“I think when you look at the employment plans, they do remain weak with only 14% planning to hire in the next three to four months,” she said. “Also, 19 – 20% planning to reduce staff in the next three to four months.”
“So I think when you look at that, that is certainly something that we still have some challenges.”
Braun-Pollon points out a big factor is the looming presentation of the provincial budget.
Within that, she and many in the business community hope the Moe government will show them their cautious optimism in the small business climate and state of the economy is justified.
“We’re looking at this upcoming budget to send the right signals,” Braun-Pollon said. “To continue to address our competitive challenges. Getting back to balance is important and further reducing the size and cost of government.”