CALGARY -- The Canadian Federation of Independent Business (CFIB) offered a frosty fiscal forecast Friday, showing that small business confidence has dipped across the country, with Alberta leading the pack of provincial pessimists as the least hopeful.
According to the monthly Business Barometer, just 38 per cent of Alberta businesses surveyed in December said they felt business was in good shape.
"Certainly the latest indicators in Alberta show that they are among the least optimistic they've been outside of any recessionary periods throughout the past 30 years. So it's a siginificant downturn in their mood," said CFIB chief economist Tom Mallett.
Most Alberta business expect things to get worse before it gets better in 2020, he said.
However, not every local small business owner was singing the business blues.
Calgary-based chef Darren MacLean is optimistic and in fact is opening two new restaurants in January, citing business advantages available during a downturn.
"Rental agreements are much lower, you have more power to negotiate and you can renegotiate your leases," said MacLean.
MacLean and his Mission restaurant Shokunin garnered praise and attention on the popular Netflix cooking show The Final Table.
Instead of repeating the restaurant , MacLean said he's diversfying dining experiences with two unique concepts; Nupo is largely vegetarian, while EIGHT will offer a chef to table fine-dining experience. Both will open at the Alt Hotel in the East Village.
"I'm just looking at different ways to do business in a challenging economy," said MacLean, "but I think you need to start looking for advantages rather than lamenting disadvantages."
The CFIB said it will be analyzing the first few months of 2020 to see if consumer behaviour has changed to demonstrate a weak economy.
