Saskatchewan businesses feeling good going into 2023

Saskatchewan is currently facing high inflation rates and labour shortages, affecting many residents and businesses.

Despite this, Shaina Lydon, owner of Ryde YXE in Saskatoon said the city’s business community is thriving.

“We have a vivatious business community and I know the people are excited to get back into their routines, connect with each other, and just get back to things that feel good and feel comfortable,” said Lyndon.

According to the Greater Saskatoon Chamber of Commerce, businesses are looking forward to 2023, with seven out of 10 businesses expressing confidence in the city’s economic outlook.

It also added 79 per cent of them believe the city has enough opportunity for business to thrive.

A thriving economy can result in a need for jobs, and the Saskatchewan government is looking to tackle labour shortages by seeking more control over immigration as well as double the amount of people coming in each year.

Jason Aebig, CEO of the Greater Saskatoon Chamber of Commerce is a fan of the idea, but said it isn’t the only way to address the shortages.

“The other part of the puzzle is growing our domestic labour supply and making sure that Saskatchewan people and people already in Canada have opportunities to re-skill, train, micro-credential, do whatever they need to do to pursue the new jobs,” said Aebig.

In the throne speech held by the government on Wednesday, the government announced its commitment to the Saskatchewan Polytechnic campus renewal project, something Aebig said can also help fill labour gaps.

“Saskatchewan Polytechnic provides a just-in-time model. It responds better to industry needs better than just about anything else by designing curriculum and courses that get people into the job market sooner with skills that industry needs right now,” Aebig added.

Aebig said in the business industry, all indicators are pointing up for Saskatoon.

Business has also started increasing for a Saskatchewan developer. Rodelle Genoway, co-owner of Hometown Homes said she has hired more staff as the pandemic has eased.

“We do see a lot of opportunity for both new construction, for custom builds and renovations,” said Genoway.

According to the Greater Saskatoon Chamber of Commerce, 25 per cent of businesses in Saskatoon expect workforce to increase, but 34 per cent are confident they will be able to find and hire the employees needed to grow.

1:46 Saskatchewan provincial sales tax expansion comes into effect this Saturday