Despite a generally lucrative Christmas season for restaurateurs and bar owners, this year is hitting many small and medium-sized businesses (SMEs).
• Also read: End of COVID loans: Businesses are already under pressure
“In my 18-year career, this will be the worst holiday season I've ever had!” says the owner of Saint-Bock, Martin Guimond, who has been hit hard by the current economic situation.
“We also have an increase in wages, an increase in hydropower, an increase in gas consumption and municipal taxes. We have so many increases that the prices also go up.”
“In the Latin Quarter we are surrounded by around twenty boarded up and closed shops, which clearly shows how tough the economy is at the moment,” says Mr Guimond.
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The owner, who complains about a significant drop in income in 2023, is having difficulty paying his rent.
“I have an 85% drop in sales this year compared to 2019. That’s huge. In fact, the rent is not being paid,” he says.
“I had to thank the employees 48 hours before the New Year because we no longer have hours for them because we no longer have enough customers.”
Like several others, Montreal's Saint-Bock benefited from emergency government aid intended to boost Canadian businesses during the COVID-19 pandemic.
However, this loan must be repaid on January 18th and many beneficiaries do not know how to get there.
“We benefited from the emergency fund [du gouvernement fédéral] and I won’t be able to do it,” says the person who is hoping for a further delay in reimbursement.
“My rent for January will have to wait,” he complains.