Small business owners in the province could be cutting their workforce in the near future.

According to a survey done by the Canadian Federation of Independent Business (CFIB), 40 per cent of small business owners could be resorting to layoffs over the next 3 months.

"Here in Airdrie the larger industries, we're hearing lots, but the smaller businesses not as much," said Linda Bruce, President, Airdrie Chamber of Commerce.

The same survey found that only 5 per cent of business owners are planning to hire in the near future.

651 business owners were surveyed, with the results being published in the monthly Business Barometer.

For more information, visit the CFIB website.