Alberta’s economy is bouncing back from the recession—but that doesn’t mean Calgary businesses are out of the hot water yet. Now, more than ever, they need the cost breaks they can get from finding the best energy rates in Calgary so they can stabilize their bottom lines and focus on repairing the damages that were caused by the latest recession.
How much have businesses been struggling?
Calgary reported a lot of business closures as a result of the recession. In fact, in 2016, a total of 2,435 Calgary businesses closed, and approximately 2,108 more closed in 2017. However, the businesses who were forced to close their doors weren’t the only ones suffering at the hands of the recession. In order to access cheaper rental or property rates, many businesses had to relocate, potentially placing them in areas that garner less foot traffic and ultimately forcing them to have to re-adjust their income models to accommodate the expected shift in clientele. Many of these businesses, although the economy is considered to be on the rebound, still need to adjust. Finding the best energy rates in Calgary can help these businesses get back on their feet as their economies begin to rebuild beneath them.
Of course, businesses didn’t just have to relocate to mitigate rising costs and depleting income levels. Many had to diversify, change suppliers, lay off staff, and cut other costs in order to survive. These aren’t changes that can be easily rectified once the economy starts to rebuild. These businesses need to recover the revenue needed to support rebuild efforts, and they also need to ensure that the aspects they re-assume back into their business models can be sustained given any future economic crashes. And, of course, hiring staff back isn’t as simple as making a phone call. Former staff members were forced to find new jobs or to open businesses of their own in an attempt to make ends meet. If a business needs to hire more staff because of the bounce-back of the economy, they also need to invest in training. That means added costs need to be invested just to get the business back to where it was prior to the recession, costs that need to be accumulated over and above the costs the business needs to re-accumulate just to stabilize itself from its own revenue losses. Finding the best energy rates in Calgary is important because it can contribute to the business’ ability to rebuild.
The businesses that survived aren’t the only ones that need the help
Further, as mentioned above, many of the employees who were laid off during the recession turned to business ownership as a solution. More than 7,081 new businesses opened up between 2016 and the end of 2017. These new businesses play an important role in Calgary’s economy. Not only do they provide work to the employees who were left without work due to layoffs, but they also function to replace the many businesses that were forced under during the recession. These businesses are important to Calgary’s business structure and to the generation of economic revenue. Of course, these businesses are trying to make the revenue they need to survive their own start-up vulnerability during a time when the economy is still tense enough to heighten that vulnerability—and during government changes that have introduced things like the carbon tax and an increased minimum wage. These businesses need all the help they can get to survive long enough to contribute to and strengthen the economy themselves. Finding the best energy rates in Calgary can help.
By keeping the monthly repeat costs that are necessary to maintaining basic operations of the building, companies can re-invest more revenue into the structures, operations, innovations, technologies, etc. they need to strengthen and grow their businesses. Finding the best energy rates in Calgary can help ensure energy costs stay low enough that the savings can, when reinvested back into the business, contribute to the growth and success of the business.