Improving economic conditions are boosting business confidence in Ontario, according to a recent survey conducted by the Ontario Chamber of Commerce.

The business climate survey, conducted in June, shows that business performance has improved and business owners are more confident in the future, as compared to a similar OCC survey conducted six months earlier.

Of more than 1,300 businesses surveyed in June, 43% said their performance is worse today, compared to a year ago. But when comparing their performance to six months ago, only 35% said it was weaker today.

Nearly 40% of respondents expect their business to perform better in the next six months, while only 15% expect a weaker performance.

In terms of performance over the next year, 45% expect an improvement, while only 16% expect a weakening performance.

“This is a positive sign directly from those who live, employ and serve consumers in communities across Ontario,” said Len Crispino, president and CEO of the Ontario Chamber of Commerce. “There is a significant trend upwards in terms of business performance and since recoveries often begin with business and consumer confidence, this may be the first indicator that the beginning of an economic recovery is at hand.”