Critical Business Roundtable: Insights & Next Steps
On February 26, nearly 40 business leaders, industry representatives, and community partners gathered at the Rodd Grand Hotel in Yarmouth for the Critical Business Roundtable. Hosted collaboratively by the Western Regional Enterprise Network (Western REN), Yarmouth Chamber of Commerce, and CBDC Yarmouth, the event sparked candid discussions on the challenges and opportunities shaping our region’s economic future.
Participants represented key sectors like aquaculture, seafood processing, and port operations, sharing both concerns and optimism. Businesses highlighted infrastructure strains, regulatory hurdles, and workforce gaps, while emphasizing untapped potential in value-added industries and supplier ecosystems. This roundtable marks the start of a series of focused gatherings aimed at driving actionable change.
Power Reliability and Infrastructure Challenges
A top concern was the reliability of power supply amid growing grid demands. Heat pumps, electrical upgrades, and extreme weather all put pressure on the grid. Businesses noted communication gaps between electricians, inspectors, and utilities that delay projects.
Nova Scotia Power representatives stressed early engagement for expansions, offering reliability teams and planning support. Needs include clear upgrade guidance, proactive utility collaboration, and better contractor coordination.
Aquaculture: Growth Stalled by Regulations
Aquaculture stood out as a major growth engine, with strong market demand for shellfish and marine products. However, multi-ministry approvals often drag on for years. One operator shared a five-year journey to launch.
Financing mismatches with aquaculture’s seasonal cash flows compound the issue. Businesses called for streamlined regulatory paths, tailored capital options, and regional investment in seafood processing and innovation.
Port Economy: Diversification for Resilience
The Port of Yarmouth handles $40-60 million in seafood value annually, but heavy reliance on lobster exposes it to seasonal risks. Opportunities lie in value-added processing, groundfish development, and broader seafood innovation.
Diversification emerged as essential for long-term stability, urging collective action to expand beyond traditional catches.
Labour Shortages and Retention Strategies
Hiring difficulties persist across sectors, even at competitive wages, due to housing shortages, transportation limits, childcare barriers, and seasonal patterns. Retention success stories included flexible schedules, benefits, and positive cultures.
Participants sought shared strategies, bolstered immigration supports, and community integration for newcomers, extending beyond workplaces.
Building a Magnet for Talent and Families
A unifying theme: How to position Western Nova Scotia as Atlantic Canada’s top spot to live, work, and raise a family? Strengths like affordability and natural beauty need bolstering with career opportunities, amenities, transportation links, and family settlement aids. Things like English training for spouses is needed.
Businesses advocated becoming stronger regional ambassadors to attract the next generation.
Momentum into Action
The roundtable revealed a region rich in resources, innovative businesses, and collaborative spirit, but held back by slow systems. Western REN, Yarmouth Chamber, and CBDC Yarmouth will channel these insights into advocacy with all government levels, policy tweaks, and support programs.
Future focused roundtables will dive deeper into these priorities. Businesses facing similar issues or spotting new opportunities: Join us.
Contact Richard at the Yarmouth Chamber richard@yarmouthchamber.com, or Wade Cleveland at the Western REN wcleveland@westernren.ca to share your voice.
Together, we’re building a thriving southwestern Nova Scotia.
More on Western REN: https://westernren.ca/about-us/who-we-are/
The Yarmouth & Area Chamber of Commerce: https://yarmouthchamberofcommerce.com/about/
CBDC Yarmouth: https://www.cbdc.ca/en/what-is-cbdc