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Small Business Owners Optimistic about Economy.

A strong majority of Canada's small business owners are optimistic about both the national economy and their own firms in 2001. The results of an annual year-end survey conducted among the Canadian Federation of Independent Business' (CFIB) 100,000 small- and medium-sized members shows that prospects for small business job creation in 2001 are also strong.

Garth Whyte, senior vice-president of the CFIB, says that overall, 34.8% of small business owners expect the economy to continue its expansion at a stronger pace next year, while 48.6% of respondents anticipate stable economic growth for 2001. Only 16.6% of respondents foresee a weaker economy.

The highest level of confidence in the economy for the year ahead was registered by businesses in Newfoundland (42.0%), Alberta (40.5%), and Nova Scotia (40.2%). The least optimistic were business owners in Manitoba and New Brunswick at 29.2% and 28.7% respectively.

The firms that are most confident about their prospects for the next year are in the manufacturing and financial services sectors, with 60.2% of respondents in each anticipating stronger growth. Those firms in transportation/communications, construction and agriculture are the least optimistic about the coming year with readings of 45.8%, 45.3%, and 41.5% respectively.
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Author:Doucet, Kristin
Publication:CMA Management
Article Type:Brief Article
Geographic Code:1CANA
Date:Mar 1, 2001
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