- The Ontario Business Confidence Index is the most comprehensive annual survey of business opinion in the province
- After two years of growing confidence, only 29 percent of Ontario’s businesses are confident in the provincial economic climate
- 58 percent of businesses are confident in their own organization’s economic outlook
The annual Ontario Business Confidence Index also shows that only 58 percent of businesses in the province are confident in their own organization’s outlook, a decrease of 22 percent compared to last year. When it comes to growing their business, 54 percent say they plan to expand within the next five years.
“This report continues the trend seen previously that business growth remains tenuous in the Quinte Region” says Bill Saunders, CEO of the Belleville Chamber of Commerce “While we remain optimistic that the economy is moving in the right direction, progress will be slow and subject to government action on key recommendations contained in the report.”
The index is a survey of almost 1,500 businesses and was conducted as part of Emerging Stronger 2015, a business-driven economic agenda for Ontario released today by the Ontario Chamber of Commerce and the Quinte Region Chambers of Commerce along with their research partners, the Mowat Centre at the University of Toronto and Leger Marketing.
The report identifies the immediate steps that government and the private sector must take to enhance Ontario’s economic competitiveness and spur job creation in the province.
”We have identified what needs to be done to ensure that Ontario remains the best place in the world to live, invest, and build a business,“ says Allan O’Dette, President and CEO of the Ontario Chamber of Commerce. “Over the next year, we will continue to work with our partners in the private and public sectors to keep Ontario on its path from recovery to growth.”
“Emerging Stronger has identified priorities to get Ontario out of this long period of recovery and once again become the economic engine of Canada,’ says Quinte West Chamber Manager Suzanne Andrews. “The large provincial debt is going to restrict the implementation of some items but there is plenty that can be done to reduce regulation and create a better business climate that will actually save the province money.”
“The Emerging Stronger report is essential reading for those in business” says Mike McLeod, Manager of the Prince Edward Chamber of Tourism and Commerce. “We continue to face economic challenges in the Bay of Quinte region and the report captures and highlights those areas we must focus on to boost business confidence.”
To learn more about the Ontario Business Confidence Index and Emerging Stronger 2015, go to: http://quintewestchamber.ca/wp-content/uploads/2015/02/Emerging-Stronger-2015.pdf