Survey finds B.C. business community optimistic

The BC Chamber of Commerce released its Collective Perspective Survey Report Tuesday night in Kelowna

Confidence and optimism were the biggest take-aways from the B.C. Chamber of Commerce’s latest member survey.

Public opinion researcher Bruce Anderson of Abacus Data, presented the Collective Perspective Survey Report Tuesday during the chamber’s dinner with B.C.’s Deputy Ministers at the Delta Grand Okanagan in Kelowna.

“The numbers are telling us that a change in government did not give way to a collective gasp about the prospects of these businesses going forward,” said Anderson, reflecting on the results of the 877 interviews completed.

“Whether that is the same view people will have next year remains to be seen, but there is a resilience we seem to have and the idea that our business community is not that fragile.”

When asked how business is today, 94 per cent of respondents answered positively. Findings showed 17 per cent said their business was in “very good shape,” 44 per cent said in “good shape” and 33 per cent said in “acceptable shape.”

The outlook for the next three to five years was also favourable with 95 per cent answering positively and just one per cent responding that the prospects for their business are very poor.

“This is not an angry business community. This is a community that is saying, with the combination of things that are going well, macro economically, and the taxes I pay and the regulations in place, I am able to have a successful business now and I think the outlook is pretty good going forward,” said Anderson.

Respondents were also asked about biggest impacts to the health and prospects of their business with the top five answers coming in as the local economy, the B.C. economy, the Canadian economy, the cost of labour and provincial taxes.

Businesses also reported the local, provincial and national economies are helping and 25 per cent of members said that Canada’s current image is also helping build business.

“The idea that Canada is well viewed throughout the world is something people are paying attention to in a way they didn’t before,” said Anderson.

“It is not just the notion that we have some sort of weird celebrity now. It is that there is a sense we have more things going for us, and more things that are stable, in the way we exist as a country.”

Not everything is rosy in B.C., however. The affordability of housing was the top concern among members, as were federal taxes, provincial taxes, access to labour and cost of labour.

When given the statement “The cost of housing in parts of B.C. has become a real problem for the province,” 60 per cent said they strongly agreed, while an additional 30 per cent said they agreed.

A reported 91 per cent said they believed that housing affordability will cause issues with attracting young people to live and work in B.C.

“This is a really critical issue for B.C. businesses, they see it as something that has the potential to change the macro economic forecast for B.C.”

When asked about the possibility of the North American Free Trade Agreement (NAFTA) ending, 38 per cent believed it would have a negative impact on their business while 60 per cent felt neutral on the matter and two per cent felt it would have a positive impact.

If NAFTA does end, respondents generally agreed (80 per cent) that Canada should seek out a standalone free trade agreement with the U.S.

Feelings on trade with China seemed to have improved year over year. In this 2017 survey, 68 percent of respondents stated free trade with China is good for B.C., versus 58 per cent of respondents in 2016.

“It wasn’t that many years ago that when you talked free trade with China people would say ‘wait, wait we just got over being scared about free trade with Mexico, how are we possibly going to survive free trade with China?’ But, today, the average B.C. business says lets go for it,” added Anderson.

When asked about the Kinder Morgan pipeline, 51 per cent supported the project, 28 per cent were neutral and 21 per cent opposed it.

When divided into regions the pipeline had far more support in B.C.’s north (68 per cent) and B.C.’s Thompson/Okanagan (63 per cent).

The least support for the pipeline project was found on Vancouver Island with 40 per cent in favour and 37 per cent against.

“The broad confidence and optimism is the most interesting piece, I think,” said Anderson. “It is about who we are as a country and about how capable we are at building strong businesses.”

The province-wide survey was sent out to local chambers via email between Oct. 25 and Nov. 24.

To report a typo, email:
newstips@kelownacapnews.com
.


@KelownaCapNews
newstips@kelownacapnews.com

Like us on Facebook and follow us on Twitter.

 

Just Posted

VIDEO: Black horse signals ‘sign of peace’ for Tsilhqot’in Nation

Justin Trudeau rides black horse provided by Cooper family

Trudeau exonerates hanged war chiefs of 1864 on B.C. Tsilhqot’in title lands

Prime minister rides horseback with Chief Joe Alphonse, TNG Chairman, to Xeni Gwet’in meeting place

B.C. Legions in need of young members to continue aiding veterans into the future

Lest we forget what thousands of men and women did to fight for Canada’s freedoms – but without new membership, many Legion chapters face dwindling numbers

Rain, snowfall warnings in effect across B.C.

B.C.’s Interior set to get hit with snow while the Lower Mainland is expected to see more rain

Turn your clocks back: Daylight Saving time ends Sunday

Don’t forget to turn back your clock, change your batteries

VIDEO: Amazon to split second HQ between New York, Virginia

Official decision expected later Tuesday to end competition between North American cities to win bid and its promise of 50,000 jobs

Disabled boy has ‘forgiven’ bullies who walked on him in stream, mom says

A Cape Breton teen who has cerebral palsy was told to lie in a stream as other kids walked over him

Letters shed light on state of mind of B.C. mom accused of daughter’s murder

Trial of South Surrey mother Lisa Batstone begins in BC Supreme Court

Vancouver man must pay $22,000 after breaking strata rules

Peter Gordon took his fight over his rented condo to the civil resolution tribunal, but lost

B.C. cheese linked to 5 E. coli cases

People are asked to throw out or return ‘Qualicum Spice’ cheese

Canada Post no longer guarantees delivery times amid more rotating strikes

The Canadian Union of Postal Workers closed two major processing centres in Ontario and B.C.

B.C. city councillor resigns as AutismBC director amid SOGI controversy

AutismBC president Gary Robins says Laurie Guerra’s resignation is effective Nov. 12

McGill students vote overwhelmingly to change Redmen team nickname

Student union held a referendum after a campaign by Indigenous students

B.C. university pride group replaces white supremacy posters

Around 50 people walked through downtown Victoria to share posters of love

Most Read