Nearly half of businesses predict they’ll grow this year, but owners’ confidence in the economy and in their prospects has fallen nine points from fall 2014, indicates the BMO Small Business Confidence Report.
The report produces an index score based on a series of key indicators, including their predictions for performance, economic outlook, growth and investment plans. As a single-figure snapshot of small business confidence, the current index score registers at 59 out of 100 – down from 68 in the fall.
Opinion company Pollara interviewed 502 business owners or managers for the report. It also found:
- 51% of owners believe 2015 will be a better year for business than 2014;
- 56% expect to see an increase in their profits this year;
- 29% expect the Canadian economy to improve in 2015;
- 48% expect their businesses to grow in 2015;
- 29% plan to invest more into their businesses this year.