CPABC BUSINESS OUTLOOK SURVEY 2016www.bccpa.ca

• 3,622 BC CPAs responded, a 17% response rate.

• 73% of respondents live in Southwest BC, while 13% live in the Vancouver Island/Coast development region.

• Close to half of all respondents work in “Industry”; just under 1/3 work in “Public Practice,”; another 23% work in “Other” sectors.

• The maximum margin of error for the total population (n=3,622) is ± 1.48%, 19 times out of 20. Survey results were not weighted.

Characteristics & Demographics

• NRG Research Group was commissioned to conduct a web-based survey of CPABC members regarding their impressions of the current and future economic conditions in the areas in which they work, current challenges for business success, and the business climate in British Columbia.

• The survey was conducted between August 22 and September 6, 2016.

About the Survey

Economic Outlook• CPAs are more optimistic about the current state of BC’s

economy relative to Canada’s economy (62% positive vs. 28% positive).

• 82% of CPAs think BC’s economy will grow at the same pace, or faster than the Canadian average, over the next two years.

• Looking at global economies, the majority of CPAs see stability or modest growth over the next two years.

Base: All Respondents, n=3,622

• For the third year in a row, the ability to attract and retain high-calibre employees and/or skilled labour was the number one challenge for business success in BC, with 84% of respondents rating this as a “major” or “moderate” challenge.

• Other challenges identified were government red tape (72%), ability to raise capital (68%), personal taxation (64%), and consumer confidence levels (59%).

Business Challenges

Base: All Respondents, n=3,622

• The issue of housing prices increased significantly with nearly all (91%) respondents saying this was a “major” or “moderate” challenge compared to 78% of respondents in 2015.

• Commodity prices (74%), the value of the Canadian versus US dollar (71%), and transportation and infrastructure (73%) rounded out the top four economic challenges to business success in BC.

Base: All Respondents, n=3,622

Economic Challenges

Government Performance

Federal

Provincial

Municipal

14%

15%

21%

46%

41%

42%

32%

35%

27%

6%

5%

8%

Poor Fair Good Excellent Unsure

29%

39%

34%

Base: All Respondents, n=3,622

• In line with 2014 and 2015, the highest ranked priority for the provincial government is to ‘improve regional economic development’. One third (32%) of members indicated this, with a further 27% ranking it as the second most important action.

• ‘Reducing government red tape’ (23% ranked most important) and ‘Greater municipal fiscal responsibility’ (22% ranked most important) rounded out the top three.

Base: All Respondents, n=3,622

Recommendations to BC Government

www.bccpa.ca