Confidence among Canadian small business owners continued to fall in the month of June, as the Canadian Federation of Independent Business (CFIB) Business Barometer Index dropped to 62.1 from 64.8 the month before.
The index is compiled based on answers to survey questions sent to small business owners across the country. The questions cover a variety of topics, including customer demand, expenses, getting financing and more.
"Insufficient customer demand was the most commonly cited constraint on business performance, although concerns about customer demand have gradually trended downward in 2012," said Ted Mallett, CFIB's chief economist and vice-president. "Meanwhile, concerns over shortages of working capital have increased slightly through the year, and about one business in four appears to have significant difficulties in finding necessary credit."
It's not all bad news. The index is structured in a way that any score over 50 ultimately reflects a generally positive attitude about the economy. So while things are generally good for small businesses, there has been a measured decline over the past several months.
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