BizNews This Week Archives - Victoria Chamber

Safety for Business session set for next week

March 5, 2025/in BizNews This Week, Government Local, Safe Communities/by Jim Zeeben

The City of Victoria‘s Small Business Info Session: Safety for Business is set for March 12, 4:30 to 7:30 pm, at Victoria City Hall. The session aims to help businesses better understand the resources available to improve their security and ensure customers and staff have a sense of safety.

Businesses can also contribute feedback to help community partners address outstanding concerns. Presentations are planned by police and firefighters, as well as bylaw enforcement, public works staff and the Community Led Crisis Response Team.

New report offers insight into Canadian real estate

March 5, 2025/in BizNews This Week, Finding And Keeping Workers, Housing, Inflation And Rising Costs/by Jim Zeeben

What do the current events of 2025 mean for Canada’s real estate industry? There’s no crystal ball to foretell the future, but the expert prognosticators at Doane Grant Thornton have put together some thoughtful insights in their 2025 Real Estate market summary. The report looks at key trends, including the political winds blowing north from south of the border as well as the state of capital markets and impact of AI.

You can read about various asset classes and more at doanegrantthornton.ca.

Navigate the trade war seas with MNP resource kit

March 5, 2025/in BizNews This Week, Global Uncertainty/by Jim Zeeben

This week saw the first shots fired in a trade war started by US President Donald Trump. The action led to retaliatory tariffs and a heating up of rhetoric across social media. But how will tariffs affect you and your business? To help better understand the specific challenges, MNP has released a Trade Impact Navigator.

This navigator includes a Tariff Exposure Risk Assessment you can take online, articles explaining the issues and a link to register for their webinar Preparing for tariff impacts that go beyond the bottom line.

BC Budget 2025 attempts to tackle trade war’s unknowns

March 5, 2025/in BizNews This Week, Chamber Awareness, Global Uncertainty, Government Provincial, Inflation And Rising Costs/by Jim Zeeben

The best news from yesterday’s BC Budget 2025 announcement was a promise from the provincial Finance Minister to work more closely with businesses going forward.

As is tradition, the minister met with the Greater Victoria Chamber of Commerce today to discuss the budget.

Brenda Bailey, a former tech sector entrepreneur, was elected to government in 2020 and appointed Finance Minister in November 2024. Her first budget day was overshadowed by news that the United States was moving ahead with a trade war on Canada.

Bailey acknowledged the curveball, noting that the budget was put together with tariffs in mind. There is also $4 billion in contingency funds set aside annually for three years to address unforeseen challenges. It’s a strategy that makes sense, but one business groups will be watching closely.

“We want to see policies that are looking at the horizon, that are investing in making our private sector bigger, growing our economy,” Chamber CEO Bruce Williams said. “We’re fortunate to live in a region with a diverse economy that is relatively sheltered from a trade war. That said, we know we’re in for challenging times ahead as Canada will be impacted by tariffs.”

In response to the US’s tariff announcement, the Canadian Chamber issued a statement saying the trade war will hurt Americans and have disastrous impacts on people in many US cities.

“Canada is resource and talent rich. Our economic future is ours to determine — it’s time to join our economic strategy with concrete action to not only minimize the short-term damage but to chart a more prosperous path long-term,” Canadian Chamber president and CEO Candace Laing said.

Read the Full Media Release

First cruise ship of the season arrives March 6

March 5, 2025/in BizNews This Week, Chamber Awareness, Transportation Options/by Jim Zeeben

This year’s cruise ship season begins March 6, when the Disney Wonder is scheduled to arrive at 8 am before departing at 5 pm from Pier B at The Breakwater District at Ogden Point.

“As we embark on the 2025 cruise season, we are thrilled to welcome visitors from around the world to our vibrant city,” Greater Victoria Harbour Authority CEO Robert Lewis-Manning said in a media release. “We look forward to providing a warm, authentic welcome that showcases the rich culture and hospitality of our community.”

The Disney Wonder carries up to 2,700 passengers and 950 crew, and its arrival marks an early start to the season, as cruise ships deployed in other parts of the world typically return to the West Coast in April to prepare for their voyages to Alaska.

Cruise ship season gets fully underway April 4 with the arrival of Holland America’s Koningsdam. In total, 320 cruise ship visits are currently scheduled this year.

Last week, The Chamber reported on a big win for businesses downtown as our advocacy efforts helped relocate the shuttle stop for cruise ships ahead of the season

View Royal looking ahead to mid-century with OCP

February 26, 2025/in BizNews This Week, Government Local/by Jim Zeeben

The Town of View Royal is looking to the future to envision the community it wants to be by the mid-century. View Royal 2050: Our Future View will be a major update to the municipality’s Official Community Plan, which will helps councils and planners make decisions about land use, housing, transportation, parks, environmental stewardship, climate action and economic development.

The first phase of the update began in January, and businesses and residents can contribute via a survey that will launch March 8. Feedback will be used to create an updated vision statement and guide the project’s next steps.

Plan for Quadra McKenzie to be reworked this spring

February 26, 2025/in BizNews This Week, Government Local/by Jim Zeeben

The draft plan for the Quadra McKenzie area will go back to the District of Saanich council to reassess initial feedback from the public.

Council has asked staff to revise the plan with reduced density in some neighbourhoods, as well as to hold off any changes to vehicle lanes on McKenzie Avenue.

“We appreciate people taking the time to share their opinions on this long-term vision for the future of this important area,” Saanich Mayor Dean Murdock said in a media release.

More than 3,300 individual comments were received. The next step will see a revised plan go back to Council in late spring, followed by more public feedback into the fall.

The Quadra McKenzie plan aims to address our ongoing climate and housing crises over the next two to three decades.

Shifting cruise shuttle stop will help area businesses

February 26, 2025/in BizNews This Week, Chamber Awareness, Fair Rules, Government Local, Hospitality And Tourism Rescue And Recovery/by Jim Zeeben

The Chamber helped advocate for a small change that will have a big benefit for many downtown businesses. After explaining the concerns of having cruise ship shuttles stop short of Government Street’s retail core, the party’s involved agreed to shift to the 900 block.

The change takes place April 4. It required the approval of City of Victoria staff, the Greater Victoria Harbour Authority and Pacific Northwest Transportation Services.

“We heard concerns from merchants that the buses were letting cruise ship passengers off before they could discover Government Street to its fullest,” Chamber CEO Bruce Williams said. “Instead of enjoying the area’s shops, cafes and restaurants, it seems passengers were staying in the area they were dropped off. We worked alongside Destination Greater Victoria and the Downtown Victoria Business Association to address this challenge.”

The new stop was chosen for safety and logistics, as well as its benefit to downtown businesses. About 160,000 cruise passengers used the shuttle service last year, while other passengers chose organized tours or other methods to get into the city.

How will tariffs affect you? Help us advocate for business

February 26, 2025/in BizNews This Week, Global Uncertainty/by Jim Zeeben

Help us help you.

We know the threat of tariffs has already created shockwaves in the Canadian economy. But how will they impact you specifically? We’d like to hear what you have to say so we can take those concerns forward to all levels of government. Please share your thoughts with

communications@victoriachamber.ca.

The Chamber is often looked to for solutions in times of crisis and — as our region’s voice of business — we work hard to represent all of our members. This can be with municipal mayors and councils, local and national media or with federal and provincial representatives.

We know tariffs will be a major topic next week at our Business Leaders Breakfast with BC Finance Minister Brenda Bailey. This event is now sold out, but you can still register for our next Business Leaders Series event with Capt. (N) Kevin Whiteside. The Base Commander has championed a good relationship with our business community, and he has plenty of insight into how to further that partnership.

In times of uncertainty, CFB Esquimalt has always been a pillar of strength for Greater Victoria’s economy. The base employs about 6,000 people who support our region’s retailers and services. As well, this community within a community is a significant customer of goods and supplies itself. Find out more about how you can help build connections on March 13.

Food prices drop for first time since 2017: CPI at 1.9%

February 19, 2025/in BizNews This Week, Global Uncertainty, Inflation And Rising Costs/by Jim Zeeben

Canada’s inflation rate ticked up slightly in January, to 1.9%.

“The (tax) holiday gave Canadians a bit of a break on prices for alcohol, food and clothing — enough to bring restaurant prices down for the first time since 2017,” Canadian Chamber economist Andrew DiCapua said. “However, that relief was overshadowed by higher energy prices which kept overall inflation pressures elevated.”

The Bank of Canada had forecast inflation to come in at 1.7% in January, which likley indicates it will not cut interest rates at its March 12 meeting, DiCapua said.

“Despite our working assumption that rates should be lowered to neutral (around 2%) by Summer 2025, the Bank will likely pause rates at their next meeting to evaluate the effects of their monetary policy.”