Now more than halfway through 2012, data from the Canadian Federation of Independent Business (CFIB) says small business optimism has been on the decline in recent months.
Based on the interest group's monthly Small Business Barometer, optimism among business owners decreased in June for the third consecutive month. Concern about world economies, the CFIB says, is contributing to this decline, with optimism at a level comparable to last summer when debt concerns in Europe and the U.S. initially escalated.
Still, even when facing potential challenges from the economy, it’s important for business owners and entrepreneurs to know they can find success.
"There is still enormous opportunity," Sherry Cooper, Executive Vice President and Chief Economist at BMO Financial Group, said at an event while discussing the economy. "iPad, for example, was launched in the worst of the financial crisis, and yet in its first year went on to have more than a million sales."
"The challenges are real, but so are the opportunities. So in many ways you need to look through the bad news."
Check out the video above for more insight from Sherry Cooper on the staying focused in challenging economic times.