According to the CFIB's B.C. Business Barometer Index, business optimism fell for a second month in a row to 63.8 in March from 64.9 in February.
Index levels between 65 and 75 indicate a growing economy.
B.C.'s business confidence level remained below the national average 67.7, ranking as the eighth most optimistic province in Canada.
In January, B.C. was the fourth most optimistic province in Canada.
Forty-nine per cent of businesses in B.C. said the overall state of business was satisfactory, 31% said it was good, and 19% said it was bad.
This is in contrast to other western provinces, where business owners are expressing increased optimism and lead the country overall in optimism.
Alberta is the most optimistic province in the country with an index of 74.6, followed closely by Saskatchewan in second place with an index of 72.0, and Manitoba in third place with an index of 69.8.
Other highlights for B.C. included:
- 72% of B.C. employers do not plan to make changes to full-time employment levels, while 14% are planning to increase full-time employment and 14% are planning to decrease employment;
- Fuel and energy are the largest cost concerns for businesses with 64% of business owners saying these costs are causing difficulties to their businesses – up from 51% in February; and
- 59% of BC small businesses say that insufficient domestic demand is their greatest business constraint – up from 47% in February.
