TORONTO – Business confidence is on the rise in Ontario, as economic improvement appears not just on the horizon but currently underway, according to a survey conducted by the Ontario Chamber of Commerce (OCC).

The business climate survey, conducted in June, shows that business performance has improved and business owners are more confident in the future, as compared to a similar survey conducted six months earlier.

Specifically:

• While 43 per cent of businesses indicated that their performance is worse today, compared to a year ago,
• Only 35 per cent described their performance weaker today, than 6 months ago.
• 38 per cent expect their business to perform better in the next 6 months, while only 15 per cent expect a weaker performance.
• 45 per cent expect greater performance over the next year, while only 16 per cent expect a weakening performance.

“This is a positive sign directly from those who live, employ and serve consumers in communities across Ontario,” says Len Crispino, President and CEO of the Ontario Chamber of Commerce. “There is a significant trend upwards in terms of business performance and since recoveries often begin with business and consumer confidence, this may be the first indicator that the beginning of an economic recovery is at hand.”

The surveys of OCC members were conducted between November 21 and December 12, 2008 and between June 1 and June 19, 2009.  They received 1,397 and 1,353 responses respectively from a wide cross section of industries and business size across Ontario.

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