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Next year of Small business hiring ‘all good news’ for city: Report

More than half of small businesses in the city plan to hire more staff in the next year.

More than half of small businesses in the city plan to hire more staff in the next year.

The latest edition of the Thunder Bay Ventures Small Business Opinion Survey, released Tuesday, also found that none of the 70 businesses surveyed plan on laying any staff off.

“That’s all good news,” Ventures manager Royden Potvin said.

It’s also good news that 74 per cent of businesses feel positive in economic growth in the city, way up from 2009 when only 28 per cent felt the same way.

Potvin said now in its 16th year, economic outlook is one of those categories that changes from one year to the next.

But some trends stay the same. Businesses still feel that the casino has a negative impact on the economy. This year that it was 71 per cent.

“It does take a lot of money out of this community,” Potvin said.

Businesses are also down on the idea that a new multiplex is affordable for the city.

Last year 75 per cent felt it was affordable while this year it’s around 66 per cent.

As for the much anticipated mining boom for the region, so far 42 per cent of businesses said they see no impact from the mining sector on revenue.  

Another 47 per cent said anywhere between one and 25 per cent of revenue can be attributed to exploration activity.