The executive director of the North Claybelt Community Futures Development Corporation says it was a record year for handing out business loans. Linda Semczyszyn pointed out that North Claybelt put nearly two million dollars into the local economy from Opasatika to Iroquois Falls. She adds many of the people coming to their offices were looking at becoming self-employed.
“We have seen an uptake in newcomers or landed immigrants moving from Southern Ontario to northern Ontario in seizing an opportunity, seeing a business that is up for sale because an individual wants to retire and they decide this is an opportunity for them so they are taking it over,” she said.
She says their doors are open ready to provide counselling and advice for something like restructuring business loans.
“Well with the increase in interest rates that we’ve seen in the last year a lot of business people are struggling meeting their day to day expenses with insurance, hydro, gas even the shortage of skilled labour is something else we deal with,” she said.