Almost half of downtown Victoria businesses open to leaving if lease expires: Survey – BC [Video]

Forty-eight per cent of downtown Victoria businesses say they’d consider pulling up stakes and moving if their lease expired this year, according to a new survey.

It’s one of the findings of a report compiled by the Downtown Victoria Business Improvement Association that the group’s CEO says is a “wake-up call” to all levels of government.

“This isn’t a new phenomenon; this has been building up for years, and this is why our businesses say they need action now,” Jeff Bray told media on Wednesday.

“They cannot afford to wait any longer for studies, task forces, reports. If they do not see bold action this year, they may well decide to move and not risk signing another five-year lease.”

The report also found that 39 per cent of businesses reported a decline in profit from last year, while more than half (54 per cent) gave doing business downtown a grade …