Survey finds B.C. business community optimistic

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.

 

Survey finds B.C. business community optimistic

Just Posted

North Okanagan business Hytec Kohler set up a COVID-19 vaccination clinic at the Spallumcheen plant Friday, May 14. (Jennifer Smith - Morning Star)
More than half of eligible adults in Interior Health vaccinated

Over 365,000 vaccine doses have been administered throughout the Interior Health region

Crews work to repair Horsefly Road east of Williams Lake . (Ministry of Transportation video)
MoTI activates district operations centre, response to flood damaged roads in Cariboo region

Engineers, experts being pulled from across the province to help

RCMP officers on scene Friday, May 14 off Bond Lake Road on the outskirts of Williams Lake. (Monica Lamb-Yorski photo - Williams Lake Tribune)
Update: Williams Lake RCMP arrest one suspect after firearms incident near Bond Lake Road

Given the severity, suspect is being held in custody for a court appearance

An official naming ceremony for the Nekw7usem Bridge connecting the RC Cotton Trail to Scout Island will take place Monday, May 17 at noon. (Patrick Davies file photo - Williams Lake Tribune)
City, WLFN hosting naming ceremony for Nekw7usem Bridge in Williams Lake

The pedestrian bridge connects the RC Cotton Trail to Scout Island

Patricia Froberg (from left), Pat Mitchell and Dorothy Ouellette enjoy lunch prepared by members of the Old Age Pensioners Organization for St. Patrick’s Day Wednesday afternoon. Today, May 14, the Old Age Pensioners Organization Branch 93 and the Seniors Activity Centre are hosting an Old Fashioned Drive In lunch with car hop service at the SAC parking lot from 11:30 a.m. to 1 p.m. (Greg Sabatino photo - Williams Lake Tribune)
Old Fashioned Drive In Lunch on menu at seniors centre today, May 14

From 11:30 a.m. to 1 p.m., swing on by the SAC parking lot for an Old Fashioned Drive In lunch

Daily confirmed COVID-19 cases reported to B.C. public health, seven-day rolling average in white, to May 12, 2021. (B.C. Centre for Disease Control)
B.C. preparing ‘Restart 2.0’ from COVID-19 as June approaches

Daily infections fall below 500 Friday, down to 387 in hospital

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Bradley Priestap in an undated photo provided to the media some time in 2012 by the London Police Service.
Serial sex-offender acquitted of duct tape possession in B.C. provincial court

Ontario sex offender on long-term supervision order was found with one of many ‘rape kit’ items

Rich Coleman, who was responsible for the gaming file off and on from 2001 to 2013, was recalled after his initial testimony to the Cullen Commission last month. (Screenshot)
Coleman questioned over $460K transaction at River Rock during B.C. casinos inquiry

The longtime former Langley MLA was asked about 2011 interview on BC Almanac program

Steven Shearer, <em>Untitled. </em>(Dennis Ha/Courtesy of Steven Shearer)
Vancouver photographer’s billboards taken down after complaints about being ‘disturbing’

‘Context is everything’ when it comes to understanding these images, says visual art professor Catherine Heard

Trina Hunt's remains were found in the Hope area on March 29. Her family is asking the public to think back to the weekend prior to when she went missing. (Photo courtesy of IHIT.)
Cousin of missing woman found in Hope says she won’t have closure until death is solved

Trina Hunt’s family urges Hope residents to check dashcam, photos to help find her killer

Chief Public Health Officer Theresa Tam listens to a question during a news conference, in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Restrictions will lift once 75% of Canadians get 1 shot and 20% are fully immunized, feds say

Federal health officials are laying out their vision of what life could look like after most Canadians are vaccinated against COVID-19

Police are at Ecole Mount Prevost Elementary but the students have been evacuated. (Kevin Rothbauer/Citizen)
Gardener finds buried explosives, sparking evacuation of Cowichan school

Students removed from school in an ‘abundance of caution’

Most Read