Alberta business leaders are optimistic about the province’s economic outlook, with nearly two-thirds expecting economic conditions to improve over the next year and many planning to increase investment, hiring and revenue growth, according to the inaugural Business Council of Alberta (BCA) CEO Pulse Survey.
“Our CEO members make the investment, hiring, and growth decisions that shape Alberta’s economy, making their perspective an important indicator of business confidence,” said Adam Legge, President of the Business Council of Alberta. “The survey tells us Alberta has momentum and CEOs are optimistic. The opportunity before government now is to build on that momentum and optimism by creating the conditions for even greater investment.”
The Council said its inaugural CEO Pulse Survey, which will be conducted twice yearly, establishes a new benchmark of business confidence among the province’s leading CEOs and entrepreneurs. It tracks expectations for the economy, business performance, investment and hiring intentions, while also identifying the issues having the greatest impact on business growth and competitiveness. The survey will help inform BCA’s ongoing work to strengthen the province’s competitiveness including research on reducing barriers to investment, reducing regulatory burden, strengthening the labour market, expanding trade opportunities and growing Alberta’s economy.
The findings come at a time when Alberta is seeing renewed private-sector investment and major project activity, while businesses continue to navigate global uncertainty, evolving trade tensions, and the lead-up to the province’s October referendum on separation, it said.
Key findings include:
- 65% of EOs expect Alberta’s economy to improve over the next year.
- More than half (55%) plan to increase capital investment, 51% expect stronger revenue growth and 50% plan to increase staffing.
- Regulation was by far the issue most likely to be identified as a major barrier (45%), suggesting it is the biggest competitiveness challenge facing Alberta businesses.
- When both major and moderate barriers are considered, taxes were identified most frequently (82%), followed by input costs (74%) and regulation (74%).
- Nearly half (47%) of businesses continue to face labour shortages, while 63% say they have the capacity to meet increased demand.
- Alberta businesses remain optimistic despite a business environment shaped by global uncertainty, major investment opportunities, and the upcoming referendum on separation.
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