CEO of the Chamber of Commerce for Greater Moncton John Wishart (Photo: TDCB)
If you ask John Wishart, New Brunswick’s release of a path toward the Green level is comparable to seeing a finish line at the end of a marathon.
The CEO of the Chamber of Commerce for Greater Moncton believes it was the best bit of hope and optimism since the marathon started 15 months ago.
It wasn’t the only promising news for businesses in New Brunswick. Hours before the plan was announced, New Brunswick renewed the Explore NB Travel incentive that aims to residents to keep their travels in the province.
“It was one of the best provincial government initiatives of 2020,” said Wishart.
Moncton’s chamber also lobbied for the small business recovery grants to be expanded, however, the government made minor changes.
On Friday, phase 2 of the program was announced with the additions that grants will be accessible to eligible businesses under the yellow health level and the year-over-year revenue threshold would be reduced to 20%.
Wishart hoped the revenue threshold would be on a sliding scale based on how much revenue a business lost.
In addition, he believes that the retail industry should be eligible for the grant subsidy at all health levels instead of only lockdown.
However, the chamber was still pleased to see any provincial support after months of demanding more aid.
“When you look at how New Brunswick has treated its business sector compared to most other provinces we’ve come up a little short,” said Wishart.
When asked about the regions economic recovery Wishart believes we must proceed with caution
“We’re a little afraid that companies that are still struggling could fall off the cliff if they’re not careful.”
With many of the federal subsidies set to expire over the coming months, businesses will be left to support themselves after 15 unforgiving months.
According to Wishart Moncton will rely on its reputation as the shopping hub and tourism spot of southeast New Brunswick.
“We need to fill hotels, shops, restaurants, people need to buy gas when they’re passing through. So that would probably be the single biggest factor for providing a full recovery for the region.”
