Some N.S. businesses still facing an uphill battle
As businesses still recover from the COVID-19 pandemic and deal with the repayment of the Canada Emergency Business Account (CEBA), some are now also struggling with rising costs.
Ian Lawson, the co-owner of Brightwood Brewery in Dartmouth, N.S., announced last week he will be closing the taproom door permanently.
He says he is caught between mounting costs and dwindling revenue.
“It does seem like every year there’s a new pivot,” Lawson says. “There’s a change in the top demographics that we’re seeing, there’s a change in consumer spending habits [and] there’s a change in flavour.”
Lawson says, in order to make the brew, he uses premium ingredients and that has become expensive, especially since retail sales dropped at the taproom and at the liquor store -- a combination of the pandemic, high inflation and higher interest rates. Following that, there was the added pressure of repaying the COVID-19 loan.
Lawson says he is fighting to keep parts of the business alive.
“Right now, we’re trying to figure out the best kind of partnership, or possibly purchasers coming in, but you know nothing’s signed on the dotted line yet.”
Restaurants and bars in Nova Scotia are struggling. Among those to close their doors is Birch and Anchor along the Bedford Highway.
The Restaurants Association of Nova Scotia is anticipating more shut downs this year.
“About 62 per cent of restaurants are operating at a break even or a loss and we’re starting to hear of some bankruptcies, which we had predicted,” said Natasha Chestnut, the executive director of the Restaurant Association of Nova Scotia.
Chestnut says the national association is seeing double the bankruptcies across Canada this year.
She adds the profit margins in Nova Scotia aren’t enough.
“Restaurants are making four per cent profit, so if you think of that in terms of the customer comes in and they spend say a $100 at the restaurant, so $4 of that is a profit.”
Lawson will keep his taproom open until Sunday.
He says he is going to continue selling craft beer and pushing through these challenging times, all with the hope of reopening the taproom some time in the future.
For more Nova Scotia news visit our dedicated provincial page.
CTVNews.ca Top Stories
'The world is too messy for bureaucratic hurdles': Canada still bars Afghanistan aid
Ottawa has plans to finally stop blocking Canadian development aid to Afghanistan this year.
Cisco reveals security breach, warns of state-sponsored spy campaign
State-sponsored actors targeted security devices used by governments around the world, according to technology firm Cisco Systems, which said the network devices are coveted intrusion points by spies.
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
Toxic testing standoff: Family leaves house over air quality
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
B.C. seeks ban on public drug use, dialing back decriminalization
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
Decoy bear used to catch man who illegally killed a grizzly, B.C. conservation officers say
A man has been handed a lengthy hunting ban and fined thousands of dollars for illegally killing a grizzly bear, B.C. conservation officers say.
OPP responds to apparent video of officer supporting anti-Trudeau government protestors
The Ontario Provincial Police (OPP) says it's investigating an interaction between a uniformed officer and anti-Trudeau government protestors after a video circulated on social media.
Loud boom in Hamilton caused by propane tank, police say
A loud explosion was heard across Hamilton on Friday after a propane tank was accidentally destroyed and detonated at a local scrap metal yard, police say.
An emergency slide falls off a Delta Air Lines plane, forcing pilots to return to JFK in New York
An emergency slide fell off a Delta Air Lines jetliner shortly after takeoff Friday from New York, and pilots who felt a vibration in the plane circled back to land safely at JFK Airport.