Small-Business Confidence in Ontario on Steep Decline, Fuel Prices a Factor

Ontario’s business confidence level for the next 12 months saw a “disturbing” decline in April due to mounting costs, including the surge in fuel prices, according to a small-business advocacy group. In an April 25 press release, the Canadian Federation of Independent Business (CFIB) said “insurance costs and fuel costs tied as the top reported cost constraint for Ontario small-business owners, followed by wage costs and tax/regulatory costs.” CFIB referred to April data from its monthly Business Barometer index, revealing that high insurance costs and fuel costs were both identified by 70 percent of Ontario businesses as a major cost constraint. Additionally, electricity costs were cited by 48 percent of business owners, while 24 percent pointed to “other energy costs.”...