3 new local businesses share their outlook for 2023

Take a quick read of the economic forecast for 2023, and pessimistic predictions aren't difficult to find. 

High interest rates and inflation, unemployment, and the likelihood of a recession all suggest this will be a challenging year for the economy.

Despite the dire financial news, a number of London-area entrepreneurs — many with roots outside of Canada — have decided to launch their own businesses. 

With this in mind, CBC London decided to speak with three business owners to share their outlook for the year ahead. 

Here's what they had to say. 

Hair supply store adds beauty to St. Thomas

Originally from Zimbabwe, Sheila Bradshaw and her partner Amos Ganda lived in Brantford before coming to St. Thomas in 2020. 

Upon arrival, Bradshaw noticed the need for a beauty supply store that caters to the Black community.

"We would have to drive to London to get anything that we needed for hair, so we thought: 'You know what? Let's open something in St. Thomas,'" said Bradshaw. 

The couple opened Shay Beauty Supply this week in a shopping plaza storefront on Churchill Crescent. 

Under shelves illuminated by slick LED lighting, their products include high-end wigs, hair extensions, braids and other haircare products, including ones you won't find at a big-name drug store. 

"We wanted something that had a nice feel and a nice customer experience in the store," said Bradshaw. 

"There are so many products that are needed for our hair but we also carry products for everyone, so we're not just specific for the BIPOC community."

And while big questions loom over the economy in 2023, Bradshaw says her passion for the business is a big motivator.

"My very first job was at Estee Lauder, and I just love the beauty industry," she said. "I'm just hoping that we can grow and establish ourselves in St. Thomas." 

Baker from Brazil brings taste of home

Emerson Silva immigrated to London from Brazil with his family in 2018. 

They arrived with a passion for artisanal foods from a country with a rich culinary tradition. Silva and his family enjoy making everything from bread to beer and sausages. 

"Cooking is our family blood. That's the reason we started to make bread here in Canada," he said. 

The dream of turning that passion into a family business came true on Nov. 8, when the Silva family opened Churis Bread, an artisanal bakery in north London at the corner of Adelaide Street North and Victoria Street. 

"We get something that we love to do and have our own business," said Silva.

There are a lot of challenges. On price, Silva admits he can't compete with the big-box grocery stores. Instead, he competes on quality with all baked goods made from scratch on-site. He bakes items such as long-fermentation sourdough bread using a six-year-old starter. 

Keeping quality high means sticking with top-shelf ingredients, but supply chain issues have made many of those ingredients more expensive. 

He said the price of butter, to take just one example, has almost doubled in the past three years. 

"Sometimes you can't just transfer these costs to the customer, and you can struggle with your margins," he said. 

Once Churis gets more established, Silva plans to expand into doing deliveries, making birthday cakes and selling his bread at local farmer's markets. 

African grocery faces challenges in Argyle

Originally from Nigeria, Bowstock Umaroho came to London from Greater Toronto Area in 2019, just as the COVID-19 pandemic was about to hit. 

He opened Boweu African Tropical Food Market in November of 2021. His store specializes in groceries from Africa and the Caribbean, which he sells from a storefront on Dundas Street East in London's Argyle neighbourhood. 

His shelves are stocked with red beans, soup spices and grains from home, such as garri, a type of flour made from a root vegetable native to west Africa. 

Word is getting around, and customers are coming in for the foods from home, but Umaroho admits his business is struggling. He often works as an Uber driver at night to help cover the bills.

"In this hard time, our prospects are very limited," he said. "I don't think we'll be able to sustain our business for a long time. It's getting worse."

Like everyone, he's been hit by inflation. The price of gas squeezes his margins in a business that requires him to make weekly trips to Toronto to pick up his goods wholesale. 

Crime in the Argyle area has also been a problem. Almost every week, he has people enter his store with the intention of stealing, not buying.

"I don't call the police anymore because it takes so long for them to come," he said.

Also, Umaroho says he's still waiting for the city to approve an application for an illuminated storefront sign. His landlord submitted the application in late 2021. 

"There should be more tax breaks for small businesses," he said. "There should be more to encourage new businesses."