Canadian dollar weighs down Dartmouth bookstore, boosts Nova Scotia exporters

A bookstore owner in Dartmouth says she's watching her profits slide with every drop in the value of the Canadian dollar. 

"Every day it goes down, it affects the business," said Anne Whebby of Tattletales Books. "We notice it in the number of books people are buying and the number of books people can afford to buy."

On Wednesday, the dollar reached its lowest value in 12 years. It didn't come as a shock to Whebby, but that certainly didn't ease her concerns. 

"The book industry is a little different than a lot of industries. When you buy a washing machine, it doesn't have a Canadian and U.S. price stamped on it — the books do."

The industry is tough because, Whebby explains, everyone deserves a piece of the sale of each book — from the writers to the publishers to the distributors to the stores. But this dip in the dollar is taking a toll.

She said the change in prices really hit home the other day when a customer asked her to order a specific book. 

"Two years ago that book was $8.95. Yesterday, when I went to order that book, it was $14.25"

Two sides of the same coin

While small shops like Tattletales are fighting an uphill battle, other Nova Scotian industries are thriving. 

Nick Langley of the Canadian Federation of Independent Business points to the large number companies in the province that export, including the fishery and forestry industries.

Every month, the CFIB releases a business barometer — a survey of owners across the country. In December, Nova Scotia topped all other provinces, with 71 per cent of owners feeling optimistic. 

"The low dollar is actually helping business optimism in small businesses in Nova Scotia," said Langley. "We're seeing small business optimism decline in places like Alberta and Saskatchewan, but grow here in Nova Scotia."

While taxes continue to be an issue, Langley said a number of small businesses in the province are making the most of the currency's woes.

"There's other factors too, such as declining oil prices, which obviously has a big impact on revenue and employment on resource industries."

'The buck stops here'

At the bookstore, Whebby said she's not rooting for the dollar to go back to par, but would just like to see it reach a happy medium that will benefit everyone. 

"It affects your ability to stay in business. You want to be here, you love the business, you love the community and you give back to the community in many different ways. But you can only stay here so long when this type of thing is happening. It's tough."

She said a recent buy-local Christmas campaign helped them get through the holidays, but she hopes people continue to keep the small stores in mind. 

"There's nobody to fall back on when you're an independent. You're it. The buck stops here."