Over half of small businesses in Atlantic Canada have considered permanently closing this year, while 75 per cent say gas prices have negatively impacted them, according to a survey by Zensurance, an insurance company for small businesses. “Unfortunately, business owners have been seeing costs increase significantly while revenue is dropping, therefore they’re squeezed on both ends,” said Mariano Neiman, the company’s chief operating officer. The owner of Buttercream Dreams Fredericton, Lauralee McCloskey, has seen that impact over the years. She began the bakery over a decade ago at the former Northside Market. When the market closed, she moved into a permanent location on Brookside Drive. But many, she said, haven’t been so lucky. “In the last 15 years since we started, there’s been quite a few businesses that started around the same time as us and we’re the only bakery that’s made it,” she said. The Zensurance survey found 60 per cent of Atlantic businesses reported being negatively impacted by the economy in 2026. McCloskey said she’s feeling the financial strain from rising food prices — but making ends meet can be complicated when customers are also struggling with the cost of living. “In this economy, it’s hard, and people want treats, but they don’t want to spend $20 for treats,” she said. She has managed that by cutting down on staff and making new products pricier — while keeping longtime favourites affordable. “It’s a constant balancing act to pay bills and cover payroll and make money and do what we love,” she said. The CEO of the Fredericton Chamber of Commerce, Morgan Peters, said member businesses are reporting rising costs overall, while grappling with instability from tariff uncertainties. But he said the biggest concern is the labour force. “This past year, New Brunswick saw a decline in population for the first time in a few years, that is putting current pressure and will for sure exacerbate future pressure,” he said. While not all businesses are reporting trouble. Andrew Belyea owns Joy of Framing, a framing business downtown. He said customers have been stable — but that relationship has been built over five decades. “Our downtown is very vibrant in Fredericton. There’s been many changes but it’s still a great place to be,” he said. For more New Brunswick news, visit our dedicated provincial page.
