By Canadian Press

Business owners in Alberta seeing the light at the end of the tunnel

Jul 14, 2021 | 4:17 PM

CALGARY – Alberta business owners say they are starting to see light at the end of a long tunnel.

The sun is shining on the world-famous Calgary Stampede this week for the first time since 2019.

The event brings millions of dollars into the city each year, but it was cancelled due to the COVID-19 pandemic in 2020.

Alberta also lifted all COVID-19 public health restrictions on Canada Day. Many businesses are operating as close to normal as possible for the first time in 16 months.

Ben Gerwing of the iconic Alberta Boot Company says business is still between one-third and half of normal levels. The reduced-capacity Stampede is at about half its typical attendance so far, so fewer customers are shopping for cowboy boots.

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But Gerwing says he’s cautiously optimistic.

Oil prices are on the rise, closing at US$75 Tuesday. This is approaching a high that hasn’t been seen since 2014.

Alberta businesses say they hope higher oil prices combined with the reopening of the economy will provide a lift for the province. Alberta has weathered seven years of bankruptcies and layoffs since the price of oil cratered in 2015.

(The Canadian Press)