Small businesses and entrepreneurs in Vancouver are experiencing the hardships of starting up fresh; businesses are faced with many challenges-the lack of rent control, and changing prices in leases.

Rachel Sawatzky, owner of Cocoa Nymph, a chocolatiere in Point Grey was forced to close down her second chocolate shop after losing $75,000 in under a year of opening. It is unfortunate that after her lease expired, the landlord increased the lease, causing the rent to double. (source)

Because Vancouver has no law preventing landlords from increasing their rent price, I think it is extremely difficult for new businesses and entrepreneurs to start their business. Businesses future’s are dependent on establishing a brand name in their current location. When landlords increase their rent, it is a dramatic obstacle for entrepreneurs who are trying the establish and grow their business.

New business owners can’t afford the increase in leases- they’re already trying to survive in a competitive market with little existing funds, and have larger concerns to think about.

Despite the struggles, entrepreneurs are committed and keen to continue growing successful businesses in Vancouver, no matter what they have to encounter.