Business future uncertain in Canmore due to COVID-19 pandemic
With shuttered stores lining the streets of downtown Canmore, locals say they have never seen the area so empty.
The question around town: how many businesses will survive the COVID-19 pandemic?
Canmore Mayor John Borrowman said many establishments have closed, noting that there is major pain in the sector.
“Our business community has responded really, really well to this challenge. It’s not easy,” Borrowman said.
“I worry about how many small businesses, and businesses of all sizes, are maybe not going to get through this… All of our communities will be changed after this and we don’t know what it’s going to look like in six months or a year, whenever we come out the other end. I continue to be very optimistic that we will get through this.”
In a business needs survey of more than 200 Canmore businesses conducted at the end of March, 11 per cent said they are unable to manage current expenses, 20 per cent said they can only last a month and 28 per cent said they can survive for three months.
Eleanor Miclette, Canmore’s economic development manager, said Alberta is in a unique situation: energy and tourism industries have been hit hard.
Though Miclette sees optimism from the business community — like how some companies switched online, established creative operating models and started making hand sanitizer — she worries that some might not recover.
“So if we look at what that means in the Bow Valley, in Banff and in Canmore, the sheer number of businesses that cannot open or serve customers right now, I’m a little bit worried about what that will mean and how that will change our business environment moving forward.”
Karina Birch, the CEO of Rocky Mountain Soap Co., said when the pandemic hit, her business closed all 13 retail locations, laid off 120 people and lost 80 per cent of its revenue.
Since then, it has seen a boost in online orders, Birch said, adding that instead of shipping big orders to stores, the company is fulfilling lots of small orders to individuals. It is also offering free delivery to Canmore residents.
“I expect we’re going to see some big changes,” she said.
“I think it will be hard for people to come out of this and be in a strong position. I think it’s just going to matter how long it’s going to be, how quickly things are going to rebound. It’s going to rely on how creative businesses are.”
Birch explained that the soap company started producing hand sanitizer. She said Health Canada quickly approved it but it has been difficult getting the materials due to supply chain issues and keeping up with demand.
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