A new report from the Owen Sound & District Chamber of Commerce and the Ontario Chamber of Commerce shows that only 29 percent of Ontario’s businesses are confident in the province’s economy, representing a 40 percent decline compared to last year.
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.
“While it is troubling that the survey reveals a decline in business confidence, the good side is that many businesses are still planning to expand” says Bert Loopstra, CEO Owen sound and District Chamber of Commerce.
“Our Chamber’s local survey results are in line with the provincial numbers”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 Owen Sound & District Chamber 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.”
“The Owen Sound and & District Chamber concurs fully with the 5 priorities clearly outlined in Emerging Stronger 2015” says Loopstra. We urge local, regional and provincial elected officials to create policies that focus on these steps to achieve sustainable growth”.
To learn more about the Ontario Business Confidence Index and Emerging Stronger 2015, go to: http://www.oschamber.com/news.cfm?newsid=77 .
