Business confidence in Manitoba lowest among provinces: report
Manitoba businesses are feeling less confident heading into the holiday shopping season, according to a new report.
The Canadian Federation of Independent Business (CFIB) released its business barometer for Manitoba on Thursday, showing the long-term confidence for members at 49.3 per cent, the lowest among the provinces.
Brianna Solberg, director of provincial affairs with CFIB, said these numbers are staggering, especially as holiday shopping is starting to ramp up.
“They have not seen the sort of revenues that they would expect to see around this time of year,” she said. “It basically says that despite the Bank of Canada's interest rate cuts, consumers aren't necessarily running out of the house to go and spend money, and when they are, we know that their spending habits have shifted to online, multinational retail chains.”
Solberg said inflation has resulted in a decline in local shopping and a move to online retailers and big box stores.
“Inflation is still squeezing everybody's budgets,” she said. “We have consumers who are holding their cards close to their chest.”
Solberg said another issue businesses are dealing with is rising insurance costs stemming from crime and vandalism.
“They're not filing an insurance claim because they don't want their already sky high premiums to become even more expensive. They're shouldering those costs to replace a broken window or replace stolen goods on their own,” she said.
Solberg said businesses are “looking for a light at the end of the tunnel” and called on government officials to provide affordability relief. She said the CFIB also encouraged people to continue shopping locally to help keep money in the community.
CTVNews.ca Top Stories
From essential goods to common stocking stuffers, Trudeau offering Canadians temporary tax relief
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
'It didn't sound good': Mother shares what her sons went through with walking pneumonia
A mother shares with CTVNews.ca her family's health scare as medical experts say cases of the disease and other respiratory illnesses have surged, filling up emergency departments nationwide.
Putin says Russia attacked Ukraine with a new missile that he claims the West can't stop
Russian President Vladimir Putin announced Thursday that Moscow has tested a new intermediate-range missile in a strike on Ukraine, and he warned that it could use the weapon against countries that have allowed Kyiv to use their missiles to strike Russia.
Manitoba RCMP issue Canada-wide warrant for Ontario semi-driver charged in deadly crash
Manitoba RCMP have issued a Canada-wide arrest warrant for the semi-driver involved in a crash that killed an eight-year-old girl and her mother.
Here's a list of items that will be GST/HST-free over the holidays
Canadians won’t have to pay GST on a selection of items this holiday season, the prime minister vowed on Thursday.
Mother charged after infant dies in midtown Toronto: police
The mother of an infant who died after being found at an apartment building in midtown Toronto on Wednesday has been charged with failing to provide the necessaries of life.
Trudeau says Canada would 'abide' by ICC arrest warrant for Israel PM Netanyahu
Prime Minister Justin Trudeau said Canada will 'abide' by an International Criminal Court (ICC) arrest warrant for Israeli Prime Minister Benjamin Netanyahu.
Tired, lead-footed and distracted: Majority of Canadian drivers admit to bad habits, survey finds
Canadian drivers are regularly in a hurry to get to their destination and a majority are willing to take unnecessary risks on the road, according to the results of a new survey.
Brazilian police indict former president Bolsonaro and aides in alleged 2022 coup attempt
Brazil's federal police said Thursday they indicted former President Jair Bolsonaro and 36 other people on charges of attempting a coup to keep him in office after his electoral defeat in the 2022 elections.