CFIB index records biggest one-month improvement in two years
Optimism among small businesses was on the rise once again in October, making the biggest one-month improvement in two years and reaching its highest level in six months, according to the latest business barometer index from the Canadian Federation of Independent Business.
The index jumped 3.6 points to 65.6 from 62 in September, reaching its highest level since April, and up 5.6 points from its August trough, according to CFIB.
The index is measured on a scale of 0 to 100, with a figure above 50 meaning the number of owners who expect their businesses' performance to be stronger in the next year is greater than the number expecting performance to be weaker; the index ranges between 65 and 70 “when the economy is growing at its potential,” according to CFIB.
“Our survey results suggest the economy is shaking off some of the sluggishness we've seen since the spring,” said CFIB chief economist and vice-president Ted Mallett in the release.
The release also noted that hiring plans were higher than average for this time of year, with 19 per cent of the random 914 CFIB small business owner members polled saying they plan to hire full-time staff in the next three to four months while 12 per cent said they would cut back.
As well, 41 per cent of respondents described their business as being in “good” shape as compared to 13 per cent who said it was in “bad” shape.
With Obama back, what’s in store for small business?
Now that the verdict in the closely contested U.S. presidential race is in, what can small business owners expect from the re-elected Barack Obama? No more uncertainty about who will be in charge. But now comes the desire for more certainty on how the president will handle issues of concern to them.
The Associated Press takes a first post-election day crack at getting some small business experts and advocates to weigh in on what small business owners should look for on issues such as the economy, tax policy, health care and regulation.
CIX top 20 announced
The Canadian Innovation Exchange (CIX) announced its top 20 companies, chosen for their technology innovation. The announcement comes before CIX’s annual forum will be held on Nov. 27 in Toronto.
EVENTS AND KEY DATES
Brett Wilson on redefining success
Former Dragons’ Den participant and Risky Business host Brett Wilson will speak on Nov. 13 about “redefining success,” which also happens to be the title of his own new book. For more details on the Economic Club of Canada-held event, click here.
The Laurier Innovation and Technology Club will host its second annual Entrepreneur’s Exchange as a kickoff to Global Entrepreneurship Week in Waterloo, Ont. The event takes place at startup incubator Communitech Hub. The keynote speaker will be 2015 Toronto Pan Am Games CEO Ian Troop. For more information, click here.
Small Business Summit Toronto
Time is drawing nearer for The Globe and Mail’s Small Business Summit, taking place in Toronto on Nov. 22. For further details on the day’s event dedicated to helping entrepreneurs kick their enterprises into higher gear, here.
EDITOR’S PICKS FROM REPORT ON SMALL BUSINESS
Stonz urged to find memorable hook for its brand of booties
As it expands its product line and international presence, the maker of infants’ and children’s outerwear looks for ways to differentiate itself from similar competing products. Find out what the experts advise in this week’s Challenge.
FROM THE ROSB ARCHIVES
How to nip office politics in the bud
As their company has grown, Dine.TO's co-founders have seen dissatisfied employees cause more disruptions more often. In a Challenge published in February, they wondered how to tackle the problem.
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