The Canadian Federation of Independent Business (CFIB) has released its Business Barometer for March, which shows optimism among Manitoba small businesses.
Brianna Solberg, Provincial Affairs Director with CFIB, says that based on their latest business barometer, small businesses in the province have seen an improvement in their long and short-term confidence levels.
Solberg adds that this optimism could be because summer is approaching, and businesses can see the light at the end of the tunnel after surviving the winter.
"Around this time of year, we see full-time staffing plans. They have a seasonal uptick, and the share of businesses that are looking to hire increases by about 25 per cent, which happens every year around this time."
According to Solberg, that increase indicates that companies are looking to bring on more staff, which is a good sign that they expect higher than current business levels.
"Overall, Manitoba small business owners are actually reporting higher levels of optimism than business owners across the rest of the country."
The Provincial Affairs Director says that the higher levels of optimism in Manitoba is something that was seen throughout the pandemic as Manitoba consistently ranked amongst the top three or four provinces.
"I don't think that we're surprised, nor are we concerned about the indicators we're seeing from Manitoba right now."
Solberg highlights that businesses are identifying new problems as top issues.
"Wages and insurance costs have replaced fuel and energy as the top cost constraint for small businesses in Manitoba," she continues. "We have heard from many business owners who've had to increase their wages in order to attract and retain staff, especially as minimum wage keeps creeping higher and higher."
Solberg notes that the retail sector is currently reporting the lowest overall levels of optimism because they have yet to see a return to pre-pandemic levels.