Business Barometer ®
TORONTO, Sept. 7, 2011 /CNW/ - As the provincial election "officially"
gets underway today, the latest read on business confidence in Ontario
provides a clear picture of what is at stake in this campaign: creating
jobs and growing the economy.
The results of the monthly Business Barometer® from the Canadian
Federation of Independent Business (CFIB) shows confidence among the
province's job creating sector dropped to its lowest level since
September 2010; down eight points to 60.1 from 68.1 the month before.
The endless stream of bad economic news from around the globe,
including spiralling debt conditions in the U.S. and in Europe nearly
garnered Ontario the distinction of the
"While small business owners don't expect their governments to control
what goes on elsewhere, they do expect them not to make matters worse,"
said Satinder Chera, CFIB's Ontario vice president. With 71 per cent of
small business owners citing fuel and energy costs as major cost
concerns, followed closely by taxes and regulatory costs at 59 per
cent, "the province does have skin in the game."
During this election campaign, CFIB will press the party leaders to
address the following small business concerns to support the future
livelihood of all Ontarians:
Relief from job-killing payroll taxes;
Reduction of unnecessary government red tape and regulations;
Fair/balanced labour laws; and, reforming the broken workers
compensation system (WSIB)
Beyond the current state of the small business community, the other big
takeaway from these results for the politicians is obvious: "The
economy will heavily influence how Ontario's job creators vote on
October 6," concluded Chera.
Measured on a scale between 0 and 100, an index level above 50 means
owners expecting their businesses' performance to be stronger in the
next year outnumber those expecting weaker performance. According to
past results, index levels normally range between 65 and 75 when the
economy is growing. The August 2011 findings are based on 513
responses in Ontario, collected from a stratified random sample of CFIB
members, to a controlled-access web survey. Findings are statistically
accurate to +/- 4.3 per cent 19 times in 20.
As Canada's largest association of small- and medium-sized businesses,
CFIB is Powered by Entrepreneurs™. Established in 1971, CFIB takes
direction from more than 108,000 members in every sector nationwide,
giving independent business a strong and influential voice at all
levels of government and helping to grow the economy.
SOURCE CANADIAN FEDERATION OF INDEPENDENT BUSINESS
For further information:
or to arrange an interview with Satinder Chera, contact Gisele Lumsden or Meghan Carrington at 416 222-8022 or email email@example.com