19 October 2010

Fair to middling on entrepreneurial qualities

Only 3.8% of the St. John’s businesses that responded to a survey conducted by the Canadian Federation of Independent Business felt that government had a good awareness of small business.

Almost 60%  of respondents expressed concern about the burden of government paperwork on their business.

67.1% felt the state of business was good but only 24% expected to hire new full-time works within the next three to four months. 55.3% felt that their business would be “better” or “somewhat better” over the next 12 months.

From the CFIB news release:

There is no single best way to measure the entrepreneurship quotient of cities, so CFIB combines a range of approaches to arrive at an overall score. It may seem obvious, but the surest signs of an entrepreneurial hot spot are the presence of a high concentration of entrepreneurs and a high business start-up rate. It is also important that business owners have high levels of optimism and success in their operations. Good public policy is also critical, so we look at the presence of supportive local government tax and regulatory policies.

St. John’s placed 36th out of 100 cities studied by CFIB.

- srbp -