Small business owners in Canada had been riding a high in their consumer confidence following the lifting on lock-downs earlier this year. But that has finally broken, and while small business owners remain mildly positive at +7%, this is a drop of 14 points since last month.
The 4 pillars of confidence have all dropped over the last month, with the most precipitous decline on Current Personal Confidence (the “micro”). This is the most direct driver of consumer behaviour, supporting our conclusion that next couple of months will be very challenging for small business owners.
Ipsos tracks consumer confidence of small business owners each month, exploring:
- Personal Confidence: How small business owners feel about their personal finances – both today and for the future.
- Economy Confidence: How small business owners feel about the broader economic situation in Canada – both today and in the future
- Current Confidence – a combination of how small business owners feel about both their personal finances and the country’s broader economic situation today.
- Future Confidence – a combination of how small business owners feel about both their personal finances and Canada’s broader economic situation in the future
- Overall Confidence reflects all metrics combined.
In-depth and demographic tracking information is also available. Please contact us if you are interested in learning more about our broader Context offer.
[WEBINAR] CHATS 2023: Evolving Consumption Trends in Inflationary Times
In the upcoming release of the 9th edition of Canada CHATS 2023, we mark the continued investigation of Canadians’ consumption habits focused on the evolving social context of eating, diversifying lifestyle beliefs, and shifting situational dynamics.