Billion-dollar companies often take the headlines in business columns, but the truth is small businesses are the backbone of Alberta’s economy. According to statistics from The Business Link website, small enterprises contributed 31% of the province’s gross domestic product (GDP) in 2008 and comprised 95.7% of all businesses with employees in Alberta.
That’s why it’s good to hear that local, small-time entrepreneurs are exhibiting greater confidence in their business prospects, as this recent article from The News Advertiser reports:
The Canadian Federation of Independent Business (CFIB) today released the latest Business Barometer survey results showing Alberta’s small business confidence index up another 2 points in March to 72.7, leading the country in business optimism.
“Small business owners are certainly optimistic about their future state of business and the Alberta economy. For the first time in nine months, independent businesses are the most optimistic in Canada,” says Amber Ruddy, Senior Policy Analyst for CFIB.
The hiring intentions of independent business owners in Alberta remained quite strong in March compared to the rest of the country. Thirty-four per cent said they were planning to hire full-time employees in the next three months compared to only five per cent who said their workforce would shrink.
When asked about the general health of their business, 52 per cent of Alberta’s entrepreneurs surveyed said it was good, up two points over February…
This is welcome news considering that optimism levels took a slight hit back in January (to 67.1%), before quickly bouncing back the following month (by 3.5%), and culminating in the numbers cited above.
Despite the confidence, small businesses still face big challenges precisely because of their size. Perhaps the biggest of these is their ability to attract customers since they don’t have the advertising budgets that big corporations have. This is especially true for newer ones that are still planting their roots in Alberta’s competitive business landscape.
Fortunately, the Internet is quickly surpassing traditional media like television, print, and radio when it comes to prominence. As statistics reveal, 27.4 million Canadians have access to the World Wide Web, and 93% of them go online to search for more information about a product. Hence, Internet marketing in Edmonton has become a cost-effective way for small businesses to advertise themselves and generate leads.
It is important to note, however, that business owners should contact a trusted Edmonton SEO company like SMRT Marketing if they want to harness the Internet’s marketing potential. These firms use proven strategies to boost their clients’ ranking in Google’s search results. They also perform a variety of services like local buzz generation, social media optimization, pay-per-click marketing, web design, online reputation management, and website audits.
(Source: Alberta Small Business Confidence Climbs to Top Spot, The News Advertiser, March 28, 2014)