Wednesday, October 5, 2022

Survey: Local businesses still facing plenty of financial pressure

Local businesses continue to express a significant amount of concern, even as the province moves ahead with its relaunch.

The Lethbridge Region Economic Recovery Task Force released the results of its second business survey this week, providing further insight into the status of businesses across southern Alberta. The survey was conducted between May 14 and May 26.

Results show that 26% of respondents are expecting a cash shortfall of at least $10,000 over the next month, and another 52% say they need to make more than 75% of their typical sales to be able to stay open this summer.

Thirty-eight percent of business are also unsure if they can pay their property taxes by the end of September.

Chamber of Commerce Executive Officer, Cyndi Vos, notes that the Task Force will continue working with government and industry in order to chart a path toward economic recovery.

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