The Canadian Federation of Independent Business’ latest Business Barometer survey found that while small and mid-sized businesses are confident, the cost of insurance remains a major concern.

The survey of 914 Canadian businesses found that 52 percent say insurance costs are one of their major cost concerns, second only to tax and regulatory costs.

The CFIB’s latest study shows that business confidence is holding steady, with the November Index at 68, within a point of both September and October’s results. These findings suggest that while the recovery is proceeding, its pace is gradual.

Among regions, small and mid-sized businesses in Newfoundland and Labrador, New Brunswick, British Columbia and Alberta are the most optimistic. Owners in Quebec and Ontario are the least optimistic.

Business owners in the finance, insurance and realty sectors are slightly more optimistic bout the future than their counterparts in other industries.