A little optimism, please

This article from today’s Times-Colonist demonstrates that many in Victoria’s business community are feeling optimistic about the future.

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Victoria in a bubble ?

On Wednesday we examined how small businesses represent most of the employers in this province. Becasue of this it would be of concern if business owners were feeling pessimistic about the current state of the economy. A nervous business owner is one who delays or decides not to hire new staff.

The Canadian Federation of Independent Business (CFIB) is reporting that as a whole business owners are growing more pessimistic (2pp. pdf).

I have been blogging about the labour market for seven years now and I can tell you that people do not like to hear bad news but in reality most of this information is neutral. In fact, in this case the picture in Victoria seems to be very different, based on anecdotal evidence provided by the Times-Colonist. They report that local employers are not feeling pessimistic about the near future.

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Canadian Newcomer Entrepreneur Program

The Canadian Youth Business Foundation (CYBF) has announced a new program that operates only in British Columbia. Aimed at young immigrants who are recent arrivals, the program  has been designed to help individuals between the ages of 18 to 34 to access start-up financing, mentoring and other resources to start a business.

See the CYBF website and this press release  for more. Information is available in Mandarin, PunjabiSpanish and English.

The consulting trend

One of the enduring trends in the Canadian labour market is the increasing number of people who work as self-employed consultants. As governments and companies move to save money by limiting hiring wherever possible, new opportunities are created for those with an entrepreneurial spirit.

As this article from the Vancouver Province points out, consultants have a greater ability to balance work-life issues by deciding on how much and what type of work to take on. Of course this type of arrangement is not for everyone as there is less certainty over income from month to month. The trend is real and increasing so there is a greater probability of being confronted with this type of opportunity.

The Canadian consulting market is growing at a rate of 5.5 per cent annually and rising, a study commissioned by the Canadian Association of Management Consultants (CMC-Canada) shows.

Business mistakes

Over 2.6 million Canadians are self-employed. This trend is expected to continue as individuals seek more control over their careers and companies and governments continue to contract out work. If you are thinking of starting your own business ensure that you do all of your research and take advantage of the resources that exist. This will minimize the chances of making one of these four crucial business mistakes.