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Breaking news for Greater Victoria businesses
Published weekly, BizNews offers information to help Greater Victoria’s business community make sense of our shifting economic and political landscape. The Chamber’s flagship newsletter is distributed to more than 5,000 subscribers who are highly engaged and active in our region’s business community. Scroll down to read the latest.
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Taskforce identifies first steps on path to prosperity
/in BizNews This Week, Business And Economic Strength/by Jim ZeebenThe South Island Prosperity Partnership‘s Rising Economy Taskforce released its preliminary findings last week, revealing huge opportunities for Greater Victoria to redefine its economy. “This includes creating high-value jobs for the next generation, attracting healthcare and essential workers, and maintaining our quality of life through sustainable prosperity and innovation,” Taskforce Chair and SIPP CEO Aaron […]
Chamber stands by DVBA’s call for government action
/in BizNews This Week, Chamber Awareness, Safe Communities/by Jim ZeebenThe Chamber is always among the first to sing the praises of downtown Victoria, which is often recognized as one of the most beautiful and livable downtowns of its size in the world. We’re also quick to point out the challenges it’s faced, and we stand by today’s report from the Downtown Victoria Business Association […]
BC Ferries announces more details for new vessels
/in BizNews This Week, Business And Economic Strength, Chamber Awareness, Climate Change Solutions, Government Provincial, Hospitality And Tourism Rescue And Recovery, Transportation Options/by Jim ZeebenThe Chamber is a strong supporter of the work BC Ferries does as a vital transportation and supply chain link for Greater Victoria. “Our organizations have a very good relationship and we are encouraged by the business-minded approach BC Ferries takes to its long-term feasibility and sustainability,” Chamber CEO Bruce Williams said, who spoke today […]
Research shows value of tourism sector on the Island
/in BizNews This Week, Hospitality And Tourism Rescue And Recovery/by Jim ZeebenIt’s National Tourism Week and Destination BC has released new tourism profiles for tourism across the province. “In 2022, travellers in the Vancouver Island tourism region were hosted by 2,700 tourism businesses and 26,300 tourism employees,” the profile for Vancouver Island states. “Collectively, the tourism industry generated $3.2 billion of gross spending in the region, […]
Greater Victoria real estate market ‘boring’ but stable
/in BizNews This Week, Business And Economic Strength, Finding And Keeping Workers/by Jim ZeebenHome sales in Greater Victoria picked up in May, though the total is still slightly below the same month last year. “Ample inventory coming to market outpaced brisk sales, which provided a consistent amount of choice and eased competition on high-demand properties,” Victoria Real Estate Board Board Chair Dirk VanderWal said in a media release. […]
Interest rate unchanged as Bank cites uncertainty
/in BizNews This Week, Inflation And Rising Costs/by Jim ZeebenThe Bank of Canada announced this morning it would stand pat on its target for the overnight rate at 2.75%. The pause was not a surprise for economists as recent GDP numbers show Canada’s economy is stronger than many expected. “The trade conflict initiated by the United States remains the biggest headwind facing the Canadian […]
BC minimum wage increases to $17.85 next week
/in BizNews This Week, Business And Economic Strength, Finding And Keeping Workers, Government Provincial/by Jim ZeebenOn Sunday, the province’s annual minimum wage increase will raise the lowest hourly rate from $17.40 to $17.85 per hour. “The 2.6% increase on June 1 also applies to minimum-wage rates for resident caretakers, live-in home-support workers, live-in camp leaders and app-based delivery and ride-hail services workers,” the provincial media release stated. “This is the fourth […]
Another Postal disruption simply bad for business
/in BizNews This Week, Business And Economic Strength, Fair Rules/by Jim ZeebenThe Chamber is calling for a quick resolution to the simmering Canada Post labour dispute. Across the country, many businesses rely on dependable delivery service and, for some, the only option is currently Canada Post. The Canadian Chamber’s Business Data Lab shows that supply chains are already facing challenges and any further disruption could make […]
Highway project will ease commute — eventually
/in BizNews This Week, Finding And Keeping Workers, Government Provincial, Transportation Options/by Jim ZeebenConnecting communities is critical for helping business flow smoothly around the region. There are deliveries to make and appointments to keep, but good transportation is also vital to helping employers find and keep workers. This has been a consistent advocacy priority for Chamber members, who help us understand their biggest challenges by filling out our […]
Saanich seeks feedback on traffic calming measures
/in BizNews This Week, Government Local, Safe Communities, Transportation Options/by Jim ZeebenA survey that closes on Saturday will help the District of Saanich roll out its Traffic Calming Policy for municipal roadways. You can have your say on how Saanich addresses road dangers so drivers, pedestrians and cyclists feel safer travelling the district’s streets. Traffic calming can include speed bumps, bike ways, traffic circles and other […]
Chamber advocacy efforts underway with feds
/in BizNews This Week, Chamber Awareness, Government Federal/by Jim ZeebenTuesday’s historic Speech from the Throne read by King Charles III included some promising policy shifts to address Canada’s housing supply. Acting as the current embodiment of Canada’s sovereignty, the King read a script prepared by the governing Liberal Party. The ritual was a not too subtle reminder to the US administration that Canadians are […]
Inflation down but concerns lurk below surface
/in BizNews This Week, Business And Economic Strength, Global Uncertainty/by Jim ZeebenInflation watchers haven’t had much excitement over the past several months (thankfully), but the April numbers have created a bit of intrigue. Statistics Canada reports the Consumer Price Index rose by 1.7% year over year last month. That’s well within the Bank of Canada’s target rate for maintaining interest rates. However, without the 12.7% discount […]