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APM CEO sees resurgence in small business growth

Jun 5 2013

Carson, Mike. APM CEO sees resurgence in small business growth. The Journal Pioneer 04 June 2013

SUMMERSIDE – The outlook for small business on Prince Edward Island in general and for Summerside in particular has been stagnant.

A recent survey conducted by the Canadian Federation of Independent Business said P.E.I. is the least optimistic among Canadian provinces about the growth of small business.

Islander businesses report hiring plans and business performance that are stuck in neutral,” the survey notes. “Roughly half the respondents cite weak domestic demand as the main culprit to a stalled outlook.”

One Island businessman isn’t buying the survey results.

Tim Banks, CEO of APM, said he sees a strong future for Island small businesses but the province has to help.

“It surprises me somewhat,” Banks said of the survey results. “This time of the year everybody gets nervous. People are trying to get their crops in and with the lobster prices the way they were put a little fear mongering into the marketplace. We work right across the country and we didn’t lapse into some of the slowdown that happened in some of the other communities. I’m not too concerned about it. I think we have a great future here.”

Banks said entrepreneurs are looking at smaller markets.

“I think what's happening and it’s something for people to consider, is that when there was a slowdown in the economy it hurt the smaller markets first,” he said. “There will be resurgence. There will be people looking at the smaller markets. We’ve had trouble trying to get the nationals to believe that Summerside is a good marketplace to be in. I still think it is and we’re encouraging them everyday.”

Media Contact: MediaReleases@apm.ca