Barrie, Ontario Chambers Of Commerce Urge Province, City To Take Steps To Improve Business Confidence

Say confidence in provincial economy at five-year low

Barrie Chamber of Commerce CEO Rod Jackson says it’s critical that the City of Barrie and Ontario Government start working immediately with local businesses to rebuild confidence ¬†and spur job creation. The annual Ontario Business Confidence Index shows business confidence in the provincial economy is at a five-year low, many¬†increasingly unsure about the direction of the provincial economy. Among other things, the Index shows:

  • 30 percent of businesses believe the Ontario economy is going in the right direction, compared to 42 percent in 2012
  • 48 percent of businesses plan to expand in the next five years, down 14 points from 2013
  • The automotive/manufacturing sector is among the least confident in the province. Just 53 percent of businesses in that sector are confident in their own organization’s economic outlook, compared to a 62 percent provincial average

“We are seeing strong evidence of a significant downturn on business confidence which may have a strong effect on business growth and therefore job growth”, said Jackson. “It’s more critical than ever that the City of Barrie and especially the Ontario government take heed and work with local businesses to rebuild confidence and achieve some stability and certainty .”

Some of the key areas that need to be addressed are:

  • fostering a culture of innovation and smart risk-taking to become a productivity leader
  • building a 21st century workforce
  • improving the way government works
  • and strategically investing in our competitive advantages