Labour, loans and lower margins
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Aug 30, 2022 ·
13m 3s
More restaurants opened than closed during the height of the pandemic. And that was thanks in large part to government grants and loans for restaurant owners. But there's a real...
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More restaurants opened than closed during the height of the pandemic. And that was thanks in large part to government grants and loans for restaurant owners. But there's a real fear that many won't survive long enough to pay back that money at the end of 2023. Gordon Stewart is the Executive Director of the Restaurant Association of Nova Scotia. He says increased food and operational costs are eating into already thin profit margins. And a labour crunch is forcing owners to decrease hours and even the number of days they are open. And that is a perfect recipe for a very tough year for the people in the food service industry.
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