Canadians are supporting local small business owners, suggesting their confidence in them may be increasing.
However, the same can’t be said for the group themselves.
Confidence among small biz clients dropped to 64.8 points in May—at the time the lowest since November 2011. Then June struck, and confidence dropped again to 62.1, finds the Canadian Federation of Independent Business (CFIB).
When confidence levels are higher than 65 points, it means owners expect growth.
Ted Mallett, CFIB’s chief economist and vice president, says concerns over the prospects for world economies continue to push business confidence down in Canada.
And which business owners have been hit hardest? Anyone within the goods sectors: agriculture, manufacturing and construction. Retail and hospitality owner confidence has remained steady overall.
Meanwhile, financial challenges for small biz owners persist. Some are concerned about a shortage of working capital, while others are struggling to find credit.
Here is a selection of articles that can help your small biz clients through these difficult times.
4 ways to help small biz clients
Tax tips: Catering to small business
Business owners should use dividends
Budget 2012: Small business issues
What do small businesses want from their advisors?
Business owners like pooled pension option
Small business dilemma: save or invest
Small businesses lag on succession planning