P.E.l. small business confidence on the rise
27% of Island companies plan to hire full-time staff, says CFIB report
Business optimism in Prince Edward Island is up slightly in June, equalling its February level, and better than any month in 2013.
The CFIB says 27 per cent of Island firms expect to hire full-time staff compared to only seven per cent that expect to make cuts.
"All this year we've seen results higher than last year's. So that does show that this year things are much stronger than they were last year," said Erin McGrath-Gaudet, director of provincial affairs for the CFIB on P.E.I.
"Well, I think a lot of it was just that we've come off a couple of really bad years — whether we've been talking about changes to EI, we've been talking about transitioning to HST. Certainly the economy of P.E.I. becomes rather dependent on how the economy is doing more generally."
McGrath-Gaudet says some of the positive impacts of the harmonized sales tax are now being felt on the Island and 2014 celebrations are also providing an economic boost.