BizNews This Week Archives - Page 4 of 6

Chamber CEO appointed to PavCo Board of Directors

October 3, 2024/in BizNews This Week, Chamber Awareness/by Jim Zeeben

Chamber CEO Bruce Williams has been appointed to the BC Pavilion Corporation (PavCo) Board of Directors.

Appointments are made by the provincial government to provide a diverse voice and leadership in a manner consistent with directives set out by the province. The Board meets at least three times a year.

PavCo is a Provincial Crown Corporation that owns and operates BC Place and the Vancouver Convention Centre. PavCo’s mandate is to generate economic and community benefit for the people of BC through the prudent management of public facilities.

Chamber encourages voters to be heard in the BC election

October 2, 2024/in BizNews This Week, Government Provincial/by Jim Zeeben

Chambers of commerce have always been vocal supporters of healthy democracies.

With candidates officially registered in all electoral areas, voters have until Oct. 19 to decide who will earn their support on the ballot.

Advance polls open on Oct. 10, and you can check Elections BC for specific information about voting places near you and dates and times they will be open. Voting by mail is also an option.

The Chamber is non-partisan and we hosted events with leaders of every party with an elected representative:

Our partners over at the Esquimalt Chamber of Commerce are hosting an Esquimalt-Colwood All Candidates Meeting on Wednesday, Oct. 9 at Esquimalt High School.

The Esquimalt chamber is accepting questions for candidates at the door or by emailing president@esquimaltchamber.ca.

Take time to reflect on Truth and Reconciliation Day

September 26, 2024/in BizNews This Week, Indigenous Business Support And Reconciliation/by Jim Zeeben

Monday, Sept. 30 is the National Day for Truth and Reconciliation, a time to reflect on the history of residential schools and to listen with purpose to the stories of our Indigenous friends and neighbours.

In addition to wearing orange on Sept. 30 to honour the thousands of survivors of residential schools, all of us can take action by supporting community events and campaigns taking place across Greater Victoria:

Attend Songhees Nation‘s South Island Powwow on Sept. 30 at Royal Athletic Park to celebrate traditional Indigenous cultures and resiliency.
Take the VNFC Small Business Pledge and donate and/or pledge a portion of your business’s sales on Sept 30 to the Victoria Native Friendship Centre.
Visit Munro’s Books on Saturday Sept. 28 (11am-3:30pm) for their National Day for Truth and Reconciliation book signing with authors whose published works provide pathways to greater understanding and reflection.
Attend the Victoria Conservatory of Music’s Songs for Truth and Reconciliation event on Sunday Sept. 29 (2-3:30pm) with Indigenous performing artists.
Participate in Capital Bike‘s Reconciliation Ride on Monday, Sept. 30, beginning 11am at Songhees Park
Join the Oaklands Community Association for their Truth & Reconciliation Mural Unveiling Ceremony, celebrating the artwork of Coast Salish artist Andrea Fritz, taking place Sept. 30 (3-5pm)

The Chamber office will be closed on Monday, Sept. 30 to commemorate the National Day for Truth and Reconciliation.

Vital Signs Report gives housing failing grade, again

September 26, 2024/in BizNews This Week, Business And Economic Strength, Climate Change Solutions, Fair Rules, Finding And Keeping Workers, Housing, Safe Communities, Streamlined Regional Regulations, Transportation Options/by Jim Zeeben

Greater Victoria has earned a “B” from this year’s Vital Signs Report, released yesterday by the Victoria Foundation. It’s the same score as last year.

“For nearly 20 years, Vital Signs has been helping the community identify and respond to the greatest challenges facing our region,” Victoria Foundation CEO Sandra Richardson said in a media release. “This year, the survey found cost of living, housing, and healthcare to be among the most important issues in Greater Victoria.”

The report looks at 12 areas and grades them based on data from a survey completed by more than 6,500 people as well as from sources curated by a local researcher

In the 2024 report, housing rated a D-, down from the D the area received last year. Health and wellness also fell from a B- to a C+ — as did the grade given to our standard of living.

Environmental sustainability earned a B, which is the same as last year.

On the positive side, sports and recreation increased from a B last year to a B+ this year. Belonging and engagement, arts and culture, and economy all stayed the same from last year.

The Vital Signs Report is available online at victoriavitalsigns.ca, as well as in print at various locations throughout the region.

Chamber celebrates Small Business Month in October

September 26, 2024/in BizNews This Week, Business And Economic Strength, Chamber Awareness/by Jim Zeeben

October is Small Business Month, presented by Grant Thornton.

Throughout the month, the Greater Victoria Chamber of Commerce is celebrating the many businesses we rely on every day to provide essential goods and services, create jobs and support our communities.

Grant Thornton continues as our presenting sponsor, helping to bring essential resources and expert advice to business owners.

“Investing in our small business community goes beyond economic benefits; it’s about preserving the distinctive character and vibrance of our community,” said Kyman Chan, Partner of Assurance and Business Advisory at Doane Grant Thornton. “As we celebrate Small Business Month, we acknowledge the leading role of small businesses in shaping the future of our community. We’re dedicated to supporting and empowering these businesses to thrive today and beyond.”

Small Business Month is an opportunity to highlight the unique challenges and opportunities faced by entrepreneurs. From cash flow management and succession planning to understanding the latest tax regulations, Grant Thornton has curated a selection of insightful articles and reports to help guide you.

Enjoy a series of events, from a special Members Networking Breakfast to informative webinars to an event with our media partner Rogers Media.

Writ drops as provincial election formally underway

September 26, 2024/in BizNews This Week, Government Provincial/by Jim Zeeben

The official countdown has begun as the province prepares to head to the polls on Oct. 19. The writ was dropped last Saturday and candidates who haven’t declared have until next Saturday to get their names on the ballot.

Of course, most candidates are well into campaigning and Chamber members can expect the discourse to heat up in the coming weeks.

The Chamber is non-partisan and we pride ourselves on working effectively with all levels of government, regardless of their political stripes. We’re also not afraid to speak up on behalf of business as needed.

For the provincial election, The Chamber hosted events with leaders of every party with an elected representative. The Leading to Election series was well attended and gave Chamber members a chance to hold all parties accountable on the issues that matter to our region’s business community.

For businesses and individuals in Victoria-Beacon Hill, one of our region’s highest-profile electoral areas, the Downtown Victoria Business Association is hosting an all-candidates meeting on Oct. 1, 6:30 – 9 pm at the Victoria Conference Centre.

The discussion will allow Tim Thielmann, Grace Lore, and Sonia Furstenau to share their platforms. This event is open to all residents of the Victoria-Beacon Hill riding, and you need to register in advance to attend.

New units added to affordable housing supply

September 18, 2024/in BizNews This Week, Finding And Keeping Workers, Housing, Safe Communities/by Jim Zeeben

Adding to Greater Victoria’s housing supply is critical. We need affordable homes for individuals and families who want to live and work in our region, and we need housing for vulnerable people at risk of falling through the cracks.

Last week, the Capital Regional District‘s housing agency helped announce the opening of 97 new rental units at Michigan Square in James Bay. The Capital Region Housing Corporation project includes 23 homes at shelter rates, 22 at the affordable housing threshold of 30% of income and 51 at or below market rates.

“We’ve been hearing from employers for many years that finding and keeping workers is a challenge and one of the root causes of that is our cost of living,” Chamber CEO Bruce Williams said. “We’re lucky to live in a region that people aspire to move into but the high demand that creates on housing stock impacts the value of the available supply.”

Another 58 rental homes are also in the works, with 40 units at 2558 Quadra St. and 18 at 1276 Gladstone Ave.

The projects are able to move forward thanks in part to government leveraging underused land and offering loans for builders at better than bank rates.

Province to begin helping those who can’t help themselves

September 18, 2024/in BizNews This Week, Chamber News, Government Provincial, Safe Communities/by Jim Zeeben

Safe communities are fundamental to all of us. We need to feel safe if we’re going to reach our potential at work and at home. However, the ongoing opioid crisis continues to impact every neighbourhood and has become especially visible in pockets of larger cities. We’re seeing more people struggling with addiction and mental health who are unable to secure immediate access to treatment options.

This week’s news that the provincial government is stepping up to provide care for people unable to care for themselves is overdue.

“Yes, people need to have agency over their lives but people also need to be kept safe from predators and people should not have to live in dangerous environments,” Chamber CEO Bruce Williams said. “We believe there are times when the healthcare system needs to intervene in a person’s life so that person has a chance to recover before it’s too late.”

The province’s shift to enabling involuntary care will start on the Lower Mainland and use correctional facilities to provide care under the Mental Health Act. The aim is to help people with addiction challenges, brain injuries and mental-health issues stabilize and rebuild their lives. Facilities on the Island and across BC are being planned.

“The toxic-drug crisis of today is not what it was 10 or even five years ago,” BC’s Minister of Mental Health and Addictions said in a media release. “We are now facing a rising number of people who are living with the lasting effects of multiple overdoses and complex mental-health challenges, tied to social factors like poverty and trauma.”

The province also called on the federal government to step up border enforcement around screening shipping containers arriving in Canada to curb the smuggling of chemical precursors used to make illicit fentanyl.

Stormy seas for businesses right now but smoother sailing coming

September 18, 2024/in BizNews This Week, Business And Economic Strength, Global Uncertainty, Inflation And Rising Costs/by Jim Zeeben

Businesses in Canada aren’t feeling great about current conditions but many sense brighter times ahead. That was the finding of the latest Canadian Survey on Business Conditions by the Canadian Chamber’s Business Data Lab.

“In fact, this is now the best showing for the ‘year-ahead’ question in the almost three years,” says Stephen Tapp, Chief Economist at the Canadian Chamber of Commerce. “Interest rates are beginning to fall across the developed world, the Bank of Canada is increasingly winning the war against inflation, and businesses are expecting a soft landing, with employment growing modestly over the next three months. And while we have signs of good news, businesses remain worried about fragile supply chains due to ongoing labour disputes across Canada’s transportation network.”

Indigenous-owned firms in Canada stood out as particularly optimistic about their future business opportunities.

Inflation returns to target 2% opening door to rate cuts

September 18, 2024/in BizNews This Week, Inflation And Rising Costs/by Jim Zeeben

With inflation finally — finally — back to 2% and the Bank of Canada signalling a new round of deep cuts to interest rates, there’s a growing sense of optimism among many business owners.

“I think we’re all a little weary of rising prices and the sense of uncertainty that has hung around the last few years,” Chamber CEO Bruce Williams said. “The latest economic signals are hopefully a sign that stability has returned and businesses can invest in their organizations with a more predictable outcome.”

Cheaper gas and clothing as well as lower mortgage costs have helped to stabilize inflation at 2% — the target rate that the Bank of Canada says indicates sustainable growth.

Meanwhile, the federal government continues to try and spur housing growth. New rules announced this week will make it easier for young Canadians to own their home.

The $1 million price cap for insured mortgages has been increased to $1.5 million, and more first-time homebuyers will be eligible for 30 year mortgage amortizations.

Both changes take effect Dec. 15.