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  • Business confidence flagging in the Thompson Okanagan

    No kidding, this protracted and ugly pandemic continues to batter Thompson Okanagan businesses and the economy.

    Business confidence in recovery is dwindling, companies are still losing business and revenues and some businesses simply won't make it, according to a series of recent BC Chamber of Commerce MindReader Pulse Check surveys.

    The BC chamber's polling broke out Thompson Okanagan numbers and the Kelowna Chamber of Commerce released them Wednesday.

    </who>A quickly and efficiently vaccinated general public is what's needed for true economic recovery, according to Kelowna Chamber of Commerce president Jeffrey Robinson.

    They show that even with rising cases of COVID and new restrictions in the province, 36% of local businesses are feeling slightly more optimistic for the next 12 months.

    Some of that hope may be based on the fact a vaccine is slowly, but surely, being rolled out and some form or normality may return by the end of the year.

    The surveys also indicate 22% of Thompson Okanagan businesses plan to rehire or hire new employees between now and July.

    Yet, some businesses are still shedding workers as tough times persist.

    However, most businesses report they are still feeling the strain of the pandemic with higher operating costs and lower revenues and many companies say they will need further government supports through 2021.

    People are feeling a similar mixed bag of emotions, happy a vaccine is on the way, but still beleaguered by the long wait, job losses, social isolation and compromised mental health.

    "It's important for our chamber to see these up-to-date indications that businesses in our area, while suffering from pandemic-driven restrictions, may be slightly better positioned to recover this year," said Kelowna chamber president Jeffrey Robinson.

    "The best economic cure is literally the shot in the arm. Once the vaccine works its way through the general population, business recovery will be swift. We continue to have conversations with both government bodies who can and must accelerate vaccine rollout in our region."

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