Latest news with #businessstruggles
Yahoo
5 days ago
- Business
- Yahoo
Stony Plain Road construction straining business, shop owners says
Construction along Stony Plain Road for the Valley Line West LRT is causing major challenges for shops in west Edmonton, business owners say. Many shop owners say the years-long project has led to a significant drop in foot traffic, leaving them struggling to stay open. Marigold Infrastructure Partners initiated several closures in the area, including some the area around Stony Plain Road and 156 Street, as part of the accelerated roadwork for Valley Line West Petra Sekhon owns Vacuum Central, which has been on Stony Plain Road for 36 years. She said her business has lost a third of its revenue this month alone. "We've been told it's going to be another three years," said Sekhon. "Ninety-nine per cent of the customers when they come in say it's hard to get in … they're telling us that we should move." She said decisions are also being made without input from business owners. "They're going to put one tree right in front of my door, which I did not ask for. But I was not given the opportunity to have any kind of input," said Sekhon. "The plan was in place and they weren't making any changes, even though we've asked." Bijoy Sasmel, owner of Spirit of India Express, took over his restaurant in January. He said construction around 156th Street has made it almost impossible for customers to reach him. "I've had a very bad experience here," said Sasmel. Sasmel said he hasn't taken a salary in six months, as even delivery drivers cancel orders because they can't find the entrance to the plaza where his restaurant is located. "Some days my sale is not even $100," he said. "If I don't move from here, maybe I'll be bankrupt. I have to feed my family, I have to feed my kids." Despite asking for support from the city and Marigold Infrastructure, Sasmel said he got no positive response. Construction for the Edmonton Valley Line West LRT has been going on for 50 months and is anticipated to be complete in 2028. Justin Keats from the Stony Plain Road Business Association said businesses are losing 50 per cent or more of their traffic. "There are no programs that are compensating or trying to rectify the unequal playing field these businesses have been placed in," said the association's members' relations and communications coordinator. Keats said there was some talk about financial support with city council that has gone through several times, led by Ward Nakota Isga Cioun. Andrew Knack, but council was unable to reach a decision. The association hopes that with Edmonton's municipal election coming up in October, they might be able to start the conversation anew. "Businesses need some form of compensation that addresses them individually as the business owner versus having those funds go directly to the property owner," said Keats. "The area in itself would also need some significant reinvestment, whether that's in marketing or additional placemaking initiatives to make this place more viable and lively." In a statement to CBC News, Po Sun, general supervisor for the Valley Line West, said the city is aware of the challenges and is grateful for the continued patience of residents, commuters and businesses. "The city doesn't offer financial compensation to businesses due to construction," the statement said, but added that the city is offering "business outreach, signage, and stakeholder support." Construction at the 156th Street intersection reopened on July 10, but work will continue throughout the area until the LRT is finished, said the city. "The plan will reduce the overall duration of traffic restrictions by more than half, and take many of the roads along the Valley Line West alignment to their final configuration by the end of 2025." "If I ran my business the way they run this construction project, I would've been bankrupt years ago," said Sekhon of Vacuum Central. "And this is taxpayers' money, it's not city's money that's paying for all this."
BBC News
18-06-2025
- Business
- BBC News
Sheffield's indoor play centres struggling to survive hot weather
The owners of children's indoor play centres in Sheffield have warned that warm weather and rising financial pressures are "killing" their Kids Town's Rachael Parker said sessions that were usually fully booked were now being cancelled, and they could only survive for another six months if the situation did not Association of Indoor Play said over a quarter of play areas in the UK reported they could be forced to close within the next 12 months, and 90% had a pessimistic outlook for the year Parker said: "Historically, we've been able to weather these sunnier days and quieter months, but it feels like there's no end in sight - it's soul-destroying." The record-breaking dry spring and a warm May and June meant parents have instead spent time outdoors with their Parker added that children who did turn up often did not have anyone else to play with."We're looking at one or two sessions a day, with maybe two or three children at each session, and some days closing completely."She said her employees, who are mostly local students, were also working reduced hours because she could not afford to pay them."Seasonal dips are accepted in May and June, but this year it started in March, and it literally feels like we've had perpetual sunshine and warm days since."She said losses could be too great to survive until the end of the summer, and added that the cost of living crisis was also affecting the number of families who could pay the entry fees to her attraction. Medieval Mayhem amusement centre owner Scott Melville said his business was experiencing a similar morning, for example, he said only two children attended, "whereas normally we should have 40 or 50".The attraction then ran at a loss of £170 once staff wages and utility bills were taken into said increases to the minimum wage had made a "dramatic difference" and rising business rates cost £2,000 every month, and they could only stay open for two or three months without of Indoor Play CEO Maria Cantarella said: "Unless the government steps in with urgent action on VAT, business rates and employment taxes, we will see widespread closures before the year is out."Indoor play is a critical part of the childhood ecosystem, it supports child development, family wellbeing, and community cohesion."A government spokesperson said: "We are a pro-business government. We are protecting the smallest businesses from the employer National Insurance rise, shielding 250,000 retail, hospitality and leisure business properties from paying full business rates and have capped corporation tax at 25%." Listen to highlights from South Yorkshire on BBC Sounds, catch up with the latest episode of Look North.
Entrepreneur
18-06-2025
- Business
- Entrepreneur
What Losing My House Taught Me About Entrepreneurship
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media. The prime minister at the time, Boris Johnson, had just announced the lockdown. We lost 80% of our client base overnight. I understood that there were more pressing matters - media networks were showing people dying in the streets of Italy and hospitals littered with corpses. So it wasn't like we could say to our clients: "You're under contract." They just cancelled their payments while their businesses were laying people off. To make matters worse, we'd just registered as a new business after merging with another company a few months prior, leaving us ineligible for government support to cover staff wages. It was brutal. Everything that could go wrong, did. I had an obligation to the staff and their families to ensure their needs were met, but I also had a personal responsibility to my wife and myself to keep a roof over our heads. That feeling of being yanked in every direction was utterly soul-crushing. Without resorting to clichés, we had to feel the fear and push through anyway. We had no choice. Everything made sense once I internalised this one characteristic; I'm willing to lose more than most people. I'm not sure if it stems from my childhood - marked by constant adversity, often dealing with the loss of loved ones - or just the never-ending feeling of having my back against the wall. Either way, that sense of struggle shaped me. The American psychologist Angela Duckworth has studied what makes people succeed in challenging environments. Her research hinged on one question: "Who succeeds here, and why?" And she found that one key characteristic consistently predicted success across these different contexts, and it's the single thing I attribute my success to. Grit. Not social intelligence, not physical health, not IQ. But having the passion, perseverance and stamina for very long-term goals – day in, day out. Sometimes, going through something that destroys you shows you who you truly are. It's not the challenges you face, it's what you get from the experience that shapes you. If you have the right mindset, these high-stress moments in life can lead to sharper focus and determination. Having no other option but to sell my house forced me to be more resourceful. It also gave me an opportunity to develop my mindset, which is a superpower asset. The most successful people I've encountered see problems in their business and life as opportunities, which boils down to one thing. They have a growth mindset. Loving the game of entrepreneurship is the only thing that kept me sane while selling our only asset and nearly scaring my wife half to death. I can't say it's the same for everyone I meet. The Great Resignation, which saw a mass exodus of people leaving the job market, was interesting to me. The number of startups increased by 16% between 2019 and 2023. According to the Census Bureau analysis, of the 3% of workers who left for "the freedom" of entrepreneurship, 99.9% returned to the job market. They tried starting their own businesses but ultimately transitioned back to regular employment as economic conditions became more challenging. It's because they didn't enjoy the game enough to continue playing. When it comes to entrepreneurship, people can focus on all the wrong things: the time freedom, the nice cars, and the wealth trappings it's perceived to bring. For me, it isn't about the dream lifestyle - it's about thriving in uncertainty, loving the grind, and being okay with sacrifices that most wouldn't dare make. It's knowing who you are. Looking back now, when everything was falling apart, it was actually an incredible opportunity to level up. We sold our beloved house, downsized, and scraped together enough equity to keep the business alive. Coming out of the COVID-19 chaos, my little marketing agency - now with the wind at its back - has grown into a globally recognised business. It's not so small anymore. That setback was a gift. It taught me that life and entrepreneurship are not about talent but about having grit and knowing precisely who you are. Above all, despite being worried about the mental health of my team, the fear of letting my family down, at times losing my sense of purpose, struggling with depression and anxiety and then pushing myself past the point of burnout, I still searched for the opportunity in it all. Losing my house taught me this: grit and a growth mindset aren't optional for an entrepreneur - they're the only way forward. You'll realise your potential if you can stay hungry and get out of your comfort zone by leaning into those nuclear events. When things go wrong, it's forced learning. You have to pay attention. You can't passively pretend to be listening and then forget it all tomorrow. Damage is where strength is built. If you don't get destroyed a few times in life, you may never realise your potential.
Yahoo
06-06-2025
- Business
- Yahoo
Santa Fe businesses' frustrations grow as road project continues
SANTA FE, N.M. (KRQE) – More than a year into a road rebuild through a Santa Fe tourism hot spot, the city is getting an earful because of new construction twists that keeps affecting dozens of businesses' bottom line. Story continues below Community:ABQ bus driver speaks out on her experience of safety issues on Central route News:Homeland Security: 11 people arrested at New Mexico dairy were 'undocumented' Trending:Mexican gray wolf Asha gives birth to litter of pups Food: Two Albuquerque restaurants make Yelp's 'Top 50 Cheap Eats' list The Concrete Jungle smoke shop has spent 30 years on Guadalupe Street in Santa Fe. 'We're struggling just to make ends meet, I don't even see how we're gonna weather this storm,' said Rebecca Storm, the owner of the shop. But Garcia said the last year dealing with a road rebuild project has been one of the toughest. 'Now sales are down 40 percent, we've never ever experienced that in our history,' said Garcia. 'Had we known that is gonna be a two-year-plus project with no end in sight, we might of made additional moves to do something else. While the project is supposed to be done by August, crews just pushed back work again this week after finding a hidden gas line. Santa Fe city leaders heard some of the frustration at a meeting with businesses this week. 'We've been taking those ideas back, trying to figure out the logistics of how do we make this work,' said Johanna Nelson, Economic Development director for the City of Santa Fe. Some businesses said they want money for the losses the construction has caused, while others said they want crews to work later into the night past 7 p.m. The city said it's working on business boosting initiatives. 'We've got a promotional campaign, so if we're out hitting the streets interviewing businesses putting that on social media. We're working with the chamber of commerce, right, to explore ways to we can further promote and support the businesses,' said Nelson. She added they're also considering a possible benefit concert, even an organized bike ride through Guadalupe Street. 'It's going to be a great thing, we just gotta hang in there and let's figure out what we can do in the meantime,' said Nelson. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
RNZ News
28-05-2025
- Business
- RNZ News
Survey reveals businesses fear upsetting gentailers if they complain about high energy costs
Auckland Business Chamber chief executive Simon Bridges Photo: RNZ / Samuel Rillstone Businesses say they are struggling to keep their doors open as energy costs surge, but they're reluctant to speak up in fear of retaliation from energy suppliers. An Auckland Business Chamber and Northern Infrastructure Forum (NIF) survey of small and medium sized businesses, heavily represented by manufacturers, found 90 percent identified energy costs as a primary concern, while half said the costs were highly concerning. Chamber chief executive Simon Bridges said energy costs combined with pressure from weak market demand, inflation and increased compliance costs had left many businesses struggling to keep their doors open. Bridges said one unexpected and troubling insight from the survey was the reluctance on the part of businesses to be identified when sharing their struggles with energy costs. "Many of the businesses we spoke to - especially those dependent on gas supply - were really uneasy about speaking publicly, for fear that it could jeopardise their ability to secure future energy contracts with the gentailers, who control close to 85 percent of the retail market. "Whether this fear reflects an actual or perceived risk, it points to serious issues with the way market power is being exercised, and is really worrying," he said. "It's high time the government had a good, hard look at the vertically integrated gentailer model, and the impact it's having on the performance of the sector." NIF executive director Barney Irvine said the survey results also underlined the drag that energy costs were placing on New Zealand's growth and productivity. "As a response to rising energy costs, 52 percent of business surveyed say they have increased the prices they charge to customers," Irvine said. "A quarter say they cut back production. The same proportion say they have laid off staff and just under 20 percent have cancelled or deferred investment." The survey found more than three-quarters of respondents believed the government should treat addressing energy costs as a high or very high priority. "The government has a good sense of what needs to be done to turn the performance of the sector around for the long-term," Irvine said. The Chamber and NIF wanted to see the government implement a 10-point energy action plan they launched in February to address the issues raised by the survey. The four big energy companies have been asked for comment.
