Small Business Confidence Hits 10-month High

A web survey by the Canadian Federation of Independent Businesses (CFIB) showed small business confidence rebounded nearly seven points in April, climbing to 59.2. The highest since June of last year.

“While we often see spikes in a single month of data, the size of this increase suggests the long-awaited confidence normalization has begun,” Ted Mallett, CFIB chief economist, said on their website.

On a scale between 0 and 100, an index above 50 means owners expecting their business’ performance to be stronger in the next year outnumber those expecting weaker performance. When the economy is growing at its potential, one normally sees an index level of between 65 and 70.

• Prince Edward Island rose to 70.8, the best in the country
• British Columbia climbed three points in April, reaching 65.4, good for second highest
• Alberta stopped its four-month slide, increasing two points to 28.6, though still has the lowest confidence in the country by far
• Saskatchewan saw a small improvement to 48.8
• Manitoba held steady at 54.0.
• Ontario jumped five points to 62.6
• Quebec slipped three to 62.2
• Newfoundland and Labrador fell to a new provincial record low at 46.4
• Nova Scotia fell a point to 64.6
• New Brunswick’s confidence increased four points to 57.5.

“While confidence is up, it should be taken with a grain of salt,” added Mallett. “There is stability in the sectors, but a look at order books and accounts receivables still shows that business conditions remain fragile, which is part of the reason why hiring plans still aren’t as robust as we normally see this time of year.”

Hospitality is the most optimistic sector, followed by information, arts and recreation, and professional services.

The natural resources sector remains the weakest in the country, followed by agriculture and transportation. 

The seasonally adjusted Ivey PMI for Canada reflected similar results - it went up to 53.1 in April of 2016 from 50.1 in the previous month.

According to surveys done by the Conference Board of Canada, the Index of Consumer Confidence rose 2.3 points in April to 94.5. This was the third consecutive gain for the index, suggesting that Canadian consumers are feeling more upbeat about the economy than they were in January.

While results from the Conference Board of Canada’s spring 2016 Survey of Business Confidence “suggest that Canadian business leaders continue to feel the pressure of chilling headwinds from global commodities markets.”

BUSINESS - Food Trucks for Fido

Gourmet food trucks have become extremely popular in urban centres across North America over the past five years - the industry bringing over $857m in revenue annually in the US.

Growing competition makes success more of a challenge, but one Seattle truck is setting itself apart from everyone else by also offering food for man’s best friend.

The Seattle Barkery, is a food truck that serves dogs and their owners in area dog parks, office building parking lots, farmer's markets and private events.

"I think there is definitely a market for more things like that, where human and canine activities are combined. You don't want to always leave them at home or leave them in the car," Dawn Ford, who owns and operates the truck with her husband, Ben, told Tulsa World.

The menu includes air-fried chicken feet and duck neck, “pupcakes” with bacon, mini cheesy doughnuts, pumpkin pretzels and peanut butter-banana cookies.

The treats are all homemade and the truck is one of just a handful in the country that caters to canines.

Fido To Go serves Chicago’s dogs and claims to be the first doggy treat truck of its kind in the nation, and Los Angeles truck, PhyDough, sells preservative-free dog treats made with organic, human-grade ingredients along with dog-friendly ice cream.

BUSINESS - Protect Your Business - Fraud Prevention Month

March is Fraud Prevention Month.

According to the Canadian Federation of Independent Businesses (CFIB), 44% of small businesses victimized by fraud don’t report it.

Many don’t believe the police can help and don’t want to spare the time and resources to try to recover losses.

In CFIB’s report, Fraud - a big threat to small business, small business owners state the stress and hassle of fraud is worse than the financial impact. Fraud costs, on average, $6200 per business.

Other findings include:

• Wholesalers are most likely to be the target of a fraud attempt.
• The Retail & Hospitality sectors are most likely to lose money to fraud.
• The most common scams to hurt small businesses are:    
• Fraudulent payments
• Email scams
• Directory fraud.

Visit the CFIB website for up-to-date information about frauds and scams, and tips on how to protect your business. Follow them on Twitter #BeFraudFree for ongoing information on Fraud Prevention Month.

BMO Survey Shows Business Owners Confident about Prospects for 2015

TORONTO, ONTARIO--(Marketwired - Sept. 29, 2014) - According to the semi-annual BMO Small Business Confidence Report released today, Canadian business owners' confidence in the state of the economy and their business prospects has risen compared to earlier this year, with more than half of entrepreneurs expecting 2015 will be a better year for their company.

"Small Business Month is around the corner, and according to the semi-annual outlook, Canadian small business owners believe their organizations are in good-health and are picking up momentum in order to rebuild the solid business foundation of previous years," said Steve Murphy, Head, Canadian Commercial Banking, BMO Bank of Montreal. "Of particular interest, business owners from nearly every province, have an increased level of optimism compared to earlier this year."

Results cited come from a Pollara telephone survey with 502 Canadian business owners, conducted between August 11^th and 28^th, 2014. The margin of error for this survey is +/- 4.4 per cent, 19 times out of 20.

Access the Report