The economic landscape in Red Deer continues to evolve, but certain challenges persist. One of the primary concerns for you, our members, is the increasing cost of doing business. Rising operational expenses- whether from supply chain disruptions, energy costs, or inflation – are putting pressure on businesses of all sizes. Furthermore, labour shortages in key sectors such as hospitality, construction, and energy remain a significant barrier to growth. Many businesses struggle to attract and retain skilled workers, which hampers their ability to meet demand and expand operations.
Another challenge is increasing taxes and fees. While we recognize the importance of sustainable municipal operations, the business community is struggling under double digit tax increases, increasing fees and utility rates. The fact that these are all happening at once is a significant strain on our local business community.
While government policies ensure a fair and safe marketplace, many of our members find the current regulatory environment complex, and at times, discouraging to investment. Whether it’s permitting, tax policies, or lack of a focused plan centered around growth and economic investment, your Chamber is committed to working with all levels of government to advocate for policies that strike the right balance between oversight and economic vitality.
Finally, access to affordable capital continues to be a concern for many small and medium-sized enterprises (SMEs). Though interest rates are coming down, there remains some hurdles in securing funding, which limits their ability to scale and contribute to job creation and economic diversity.
