Released on September 24, 2008
Despite the roller coaster ride on the stock markets, Saskatchewan businesses remain among the most optimistic according to a report released by the Canadian Federation of Independent Business (CFIB) today.
According to the CFIB, quarterly report for September, Saskatchewan businesses had the most optimism of any other province in the nation, scoring 113.9 on the survey index. Newfoundland and Labrador followed closely behind with a score of 112.9. On the national front, the Canadian average was at 101.8.
"We know consumer confidence is at an all-time high in the province with the retail sales numbers this week," Enterprise and Innovation Minister Lyle Stewart said. "However, the good news is that business is also sharing the optimism that Saskatchewan's economy is strong and diversified enough to continue along this road of prosperity."
The report indicates that 62 per cent of small-and medium-sized businesses (SMEs) expect their firm to perform stronger in the next 12 months, compared to only 41 per cent nationally. Saskatchewan SMEs are also expecting to increase the number of full-time employees, with only 3 per cent of SMEs planning reductions in the number of full-time staff.
"We know there are considerable challenges facing business leaders on every level, particularly on the global front right now," Stewart said. "Our government will work with business to create opportunities for existing businesses, and at the same time, work on attracting new investment to Saskatchewan."
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For more information, contact:
Deb Young
Enterprise and Innovation
Regina
Phone: 306-798-0503
Email: Deb.Young@gov.sk.ca