Timmins — The 2021 Timmins Chamber of Commerce Business Confidence Report provides a pulse check on local owners and operators and provides three key recommendations to city council.
In all, 111 businesses responded, with most of them having fewer than 30 employees.
The survey data showed the majority of businesses experienced a decrease in revenues due to pandemic lockdowns, and not being equipped to pivot to an online platform.
“There are examples of businesses that became online only and in fact business improved for them so it’s an important part of business," said chamber president Rob Knox.
"You have to be everything to everyone, I suppose, if you really want to succeed, unless you’re very fortunate in a bricks and mortar building and service that you don’t need the online experience, but those are few and far between."
The report also found several issues that need monitoring, such as more than half of the businesses are not doing anything new; there's an employee shortage; and more than 60 per cent said they would cut back on donations to charities.
The South Porcupine Food Bank is prepared.
“We’ve also set some money aside in Guaranteed Investment Certificates in case, you know, in the future we run into issues where we have a bit of a cash flow issue," said Peter Davis, treasurer of the South Porcupine Food Bank.
There are areas of opportunity to boost business confidence during the remainder of the Timmins city council's term, said Knox.
“Perhaps a short-term tax relief for the businesses that were hurting would help them increase their confidence and get back on their feet and to balance the books,” he said.
Another area of concern being closely watched by the chamber is the city's housing vacancy rate. The report indicates it's at 6.9 per cent, which is double the national average. They said if Timmins gets the natural resources boom that's predicted, the city will be in dire need of affordable housing.
