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Uncertainty about the Alberta economy is taking a toll on the confidence of entrepreneurs in the province, says ATB Financial.

For the first time since the bank began surveying small- and mid-sized businesses almost three years ago, it found more owners believe their business will be worse off in six months (33 per cent) than those who feel it will be better (26 per cent).

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“It’s tough to see because Alberta entrepreneurs are eternal optimists,” said Wellington Holbrook, executive vice-president of ATB Business & Agriculture. “But more and more business owners are feeling the pinch of reduced revenues and have to make some tough decisions to manage through this downturn.”

Holbrook said the prolonged low price of oil has shaken business owners’ confidence.

“It’s probably been over a year now since prices started to slide and to be fair we haven’t seen a lot of impacts with respect to elevated unemployment rate or some of those other indicators yet,” he said. “But perhaps people are starting to change their behaviour.

“If you’re directly involved in energy, you’re the most pessimistic for sure. Certainly retail and construction is dropping a bit.”

Last year, 48 per cent of business owners asked felt they would be better off in six months.

mtoneguzzi@calgaryherald.com

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