Ontario businesses optimistic in own outlook, not provincial economy: survey
TORONTO – The Ontario Chamber of Commerce says a new survey suggests only one quarter of its members are confident in the province’s economic outlook.
However, the chamber says nearly two-thirds of them are optimistic about their own business’ outlook.
Almost 80 per cent of the businesses surveyed expect to maintain or increase their revenue in the next year and more than one quarter expect to increase staffing levels.
But the chamber says small businesses are less likely to predict growth, and “given that small businesses make up the majority of enterprise in Ontario, this is a particularly important difference in perception.”
Premier Kathleen Wynne says she doesn’t know why businesses are so much more confident in their own growth than in the province’s, but she says Ontario is leading the country in economic growth this year.
In its economic outlook report, the chamber says one reason may be that most of their members don’t believe that government policies such as cap and trade and an electricity rebate will benefit their organizations.
The survey of 773 Ontario Chamber of Commerce members was conducted online by Fresh Intelligence between Oct. 25 and Nov. 30, 2016.
© 2017 The Canadian Press