After an uptick in February, small business confidence in Alberta slipped slightly in March.

According to the latest Business Barometer® report from the Canadian Federation of Independent Business, the long-term optimism index for Alberta fell 2.6 points to 51.1 in March.*

Although not too far off from where it was a year ago (53.6) and above the recent low of 45.8 seen in November of last year, the index is down by over 10 points compared to March 2022 when it was sitting at 61.7.

A lot of factors can affect business confidence, but it is safe to assume the rapid rise in interest rates that began two years ago is among them.

The index also lost some ground nationally, moving from 55.1 in February to 52.7 in March.

Insufficient demand (mentioned by 49% of respondents), a shortage of skilled labour (40%) and a shortage of working capital (36%) were the top three limitations on sales/production growth cited by Alberta small business owners in March.

*Data reflect responses received from March 5 to 12. The long-term optimism index is based on how businesses expect to be performing in 12 months while the short-term optimism index is based on a 3-month outlook.

Answer to the previous trivia question: In 1985, a $2.4 million dollar renovation to the upper section of the Calgary Tower was completed, adding a souvenir store and a restaurant.

Today’s trivia question: What is the record for the largest (by height) chocolate Easter egg?