Weyburn’s business community has a unique mix of operations, many of them owned and operated locally, and face many challenges but also gain many rewards, said Weyburn Chamber of Commerce manager Rochelle Wendt.
“Each type of business, the large corporate office, or small family owned, the big box stores and small niche market boutiques are important players that make up the local business community. Small business as we know is the backbone of any economy,” she said.
“Weyburn enjoys a large complement of small family-owned businesses that contribute to the overall makeup of our business community. This creates a unique business culture in our region,” she added.
Wendt noted there are many advantages to the locally-owned small operation in an economy like this.
“Small business, especially those family-owned multi-generational businesses, have the ability to read and react to the changing circumstances often quicker and more efficiently. They have an understanding of the local economic climate and how to thrive through the ups and downs,” she said.
“They can also be reactive to customer needs and can provide a customized consumer experience for their clients and customers. Most of us can think of an example of a local business brining in unique product lines in response to requests from customers.”
There are certainly some unique challenges as well, Wendt noted.
“The investment of time and money to start a business is immense. We all know someone who has poured their heart into a business idea they are passionate about. They have stories of sleeping at the store or having to use their own bank account to ensure the employees get paid.”
Depending on the type and size of the business, the fluctuations of the economy can be very impactful, Wendt pointed out, along with changes to things like taxation and minimum wage or value of the dollar.
“These changes can really shift everything off its axis for a while, so it’s important that as much as possible there be a stable predictable climate to operate in. Of course as we know in our region that is resource-based and subject to the global economic conditions of that resource, stability and predictability aren’t always possible.”
As she has talked to many members of the business community, she said, “Many businesses have plans in place to weather storms such as this, and have the ability to diversify in response, but I can imagine how hard it must be when as a business owner you have to look your friend or neighbour or maybe even a family member who is also your employee in the face and tell them we are having to make cuts.”
Wendt remains optimistic that Weyburn’s business community will come through strongly as they face the current challenges of the economy.
“As we are seeing, the resiliency of our business community is exceptional. They’ve seen these circumstances before and will come through, likely stronger, as they always have. Some things will change no doubt and some doors will close. Every day though I talk to someone looking for the next opportunity in this new set of circumstances.”
