With 2024 coming to a close, Quinte News spoke to Quinte West Chamber of Commerce CEO Suzanne Andrews about how the year had gone.
She said they had seen major growth in the local business community with 25 new businesses opened this year.
“We’re seeing a lot of immigrants to Canada that are very entrepreneurial and taking that step to self-employment, owning their own business. Many of them have been in Canada for a few years and have lived in the GTA, and they just see some great opportunities here in Quinte, and it’s a place they want to come and raise their families.”
Many of the new business owners have been young, with a mix of those moving to the area and those already living here.
However, both new businesses and existing businesses have faced challenges this year. Andrews said that local restaurants have had it especially rough as they deal with rising labour and food costs.
“Families are feeling a little bit of that financial pinch at the moment,” said Andrews. “Going out to eat at a restaurant is definitely something that people obviously still want to do, but they might not be doing it as often.”
Rising costs haven’t been the only problem facing small businesses. Many of these businesses took on additional debt to get through COVID and are still recovering.
