Increased interest in small business shows that the city is viable: Pastore.
An increase in interest in small business is a good indication that there is more to Sault Ste. Marie than Algoma Steel.
Giacomo Pastore, Sault Ste. Marie's business development officer, said his office has assisted a record number of people thinking of starting their own businesses.
Pastore claims the increase is proof that the economy of Sault Ste. Marie is still viable despite Algoma Steel's uncertain future.
Increased interest in the small business sector began last August when Algoma Steel encountered cash flow problems resulting from a work stoppage.
Pastore said people are expressing interest in starting many different types of businesses, from small carpentry shops and landscape operations to telemarketing sales firms and student training centres.
He added that many of the people entering his office for assistance have spent a great deal of time researching the markets and preparing business plans.
"95 per cent of the people that come through the doors have viable business ideas. Some even have actual orders to fill already," he insisted.
CHEAP REAL ESTATE
Approximately half of the new entrepreneurs are either unemployed or are awaiting a call back to work at Algoma Steel. Pastore said most of them believe that it is a good time to start a business because commercial real estate is cheap in the Sault right now.
Although most of the operations would employ only two or three people each, the increased interest in small business is welcomed by the city's economic development office.
"Small business builds the base of an economy," said Pastore.
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|Title Annotation:||Focus On Sault Ste. Marie; Giacomo Pastore says Sault Ste. Marie's economy is improving|
|Publication:||Northern Ontario Business|
|Date:||Apr 1, 1991|
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