2023-12-31 16:31:06
Despite a generally lucrative holiday season for restaurateurs and bar owners, this year is hurting many small and medium-sized businesses (SMEs).
• Read also: End of COVID loans: businesses already under pressure
“In my 18 years of career, this is going to be the worst holiday season I’ve had!” says the owner of Saint-Bock, Martin Guimond, hit hard by the current economic context.
“We also have an increase in wages, an increase in hydroelectricity, an increase in gas, municipal taxes. We have so many increases that prices are also on the rise.”
“In the Latin Quarter, we are surrounded by around twenty boarded up and closed businesses, which clearly shows the toughness of the economy at the moment,” says Mr. Guimond.
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The owner, who deplores a significant drop in income in 2023, is struggling to pay his rent.
“I am at -85% of my sales this year compared to 2019. It’s huge. In fact, it doesn’t pay the rent,” he says.
“I had to thank employees 48 hours before the New Year because we no longer have hours to give them, because we no longer have enough customers.”
Like several others, Saint-Bock in Montreal benefited from emergency government assistance intended to give a boost to Canadian businesses during the COVID-19 pandemic.
However, this loan will have to be repaid on January 18 and many beneficiaries do not know how they will get there.
“We benefited from the emergency fund [du gouvernement fédéral] and I’m not going to make it,” says the one who hopes for a further postponement of reimbursement.
“My rent for January will have to wait,” he laments.
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