Business And Economic Strength Archives

Province continues working on red tape reduction

October 29, 2025/in BizNews This Week, Business And Economic Strength, Fair Rules, Government Provincial, Streamlined Regional Regulations/by Jim Zeeben

On Monday, the provincial government announced it was making 187 amendments to 38 regulations in order to reduce red tape, improve permitting timelines and make government services more efficient and accessible.

The changes are across 10 ministries and focus on streamlining approval processes, such as removing construction permit requirements for very small private water systems, simplifying the level of authority needed for special-use forestry permits and eliminating outdated provisions related to soil relocation and open burning activities.

Businesses can share their ideas for future red tape reduction at betterregulations@gov.bc.ca.

ICBC freezes auto insurance rates through 2027

October 29, 2025/in BizNews This Week, Business And Economic Strength, Government Provincial, Transportation Options/by Jim Zeeben

The Insurance Corporation of BC announced on Tuesday that no increase to basic rates is planned for next year. It marks the seventh year in a row that ICBC has held rates.

“With insurance rates stable, we can put our efforts toward enhancing customer experience and expanding online services,” ICBC interim CEO and president Jason McDaniel said in the media release.

ICBC reviewed its finances and concluded that basic auto-insurance rates do not require a change through to 2026-27 fiscal year, eliminating the need for an application to change rates with the BC Utilities Commission in 2025 and postponing any potential need for an application until late 2026.

Some of the credit for the stable financial situation goes to the switch to a “no-fault” system, which McDaniel recently told a Chamber audience he prefers to call Enhanced Care.

The introduction of Enhanced Care in 2021 led to an immediate reduction in basic insurance rates, and has helped keep the rates steady ever since.

Change gives sick or hurt staff up to six-months leave

October 22, 2025/in BizNews This Week, Business And Economic Strength, Finding And Keeping Workers, Safe Communities/by Jim Zeeben

The BC government is proposing an amendment to the Employment Standards Act that would give employees up to 27 weeks of unpaid leave for serious illness or injury.

The province says the change is in line with other jurisdictions and will protect people who can’t work for at least one week because they need treatment or are debilitated by disease.

Employees must obtain a medical certificate from a doctor or nurse practitioner stating that the person is unable to work and how much time off is required.

Business confidence wobbly as uncertainty lingers

October 22, 2025/in BizNews This Week, Business And Economic Strength, Global Uncertainty/by Jim Zeeben

Economic uncertainty linked to ongoing trade talks between Canada and its largest trading partner continues to weigh on the minds of businesses.

The latest Business Outlook Survey, released this week by the Bank of Canada, found that most businesses are waiting for clarity about the future before investing in their organization. Confidence is slightly higher than in early 2025, after the US administration first rolled out its shift to a tariff-based approach to global trade.

“Ongoing concerns of a recession are offsetting the continued gradual improvement in business sentiment, leaving firms’ outlooks and plans largely unchanged, on balance,” the survey states. “Measures of both business activity (including sales, investment and employment) and capacity continue to weigh negatively on the BOS indicator, reflecting ongoing soft demand and cautious planning.”

Plan for prompt payment rules supports construction

October 8, 2025/in BizNews This Week, Business And Economic Strength, Fair Rules, Finding And Keeping Workers, Government Local, Government Provincial, Housing, Inflation And Rising Costs, Streamlined Regional Regulations, Training And Microcredentials/by Jim Zeeben

The Chamber applauds a new agreement that will let builders build, and spend less time chasing wayward payments.

On Tuesday, the province announced legislation that will help contractors, subcontractors and workers get paid on time.

“We welcome this critical step toward payment certainty for B.C.’s construction industry,” BC Construction Association president Chris Atchison said. “It marks a new starting line that requires sustained collaboration between industry and government. Establishing fairness in how money flows means the industry can focus on building, not battling over payment. BCCA remains committed to continuing to work with the provincial government on this important issue.”

With housing supply a critical component for improving the cost of living in Greater Victoria and across BC, governments need to address all barriers facing contractors.

The prompt-payment legislation, once passed, will:

· set clear timelines for payment on construction projects

· establish a fast-track adjudication process to resolve payment-related disputes

· improve cash flow and stability across the construction industry.

Ontario and Alberta already have prompt-payment laws, and industry groups in BC have supported bringing those rules here. The province said there will be a transition period to establish an adjudication authority and conduct outreach and education regarding rights and responsibilities under the new system.

Prompt-payment rules will apply broadly to both private- and public-sector projects in BC, including government contracts, unless specific exemptions are set out by regulation.

Condé Nast showers love on Greater Victoria

October 8, 2025/in BizNews This Week, Business And Economic Strength, Hospitality And Tourism Rescue And Recovery/by Jim Zeeben

As The Chamber steps up our advocacy to improve social and business conditions in Greater Victoria, a recent poll reminds us of what we have to lose.

Our region is a world gem, and, once again, has been recognized by Condé Nast Traveler as the Best Small City on the planet. The travel magazine’s 38th annual Readers’ Choice Awards survey attracted 757,109 votes.

Greater Victoria topped the list of small international cities for the third year in a row.

Highlights of our region were our proximity to Vancouver — and the ferry ride to get here — as well as the iconic Fairmont Empress and our accessibility to ancient forests.

The magazine’s survey also ranked the Oak Bay Beach Hotel and the Fairmont Empress as the top two hotels in Western Canada.

A sister publication, Condé Nast Traveller from the UK, announced its own Readers’ Choice Award, with the Magnolia Hotel & Spa ranking as the top hotel in Canada as judged by its readers.

Seair announces new seaplane service to Victoria

October 1, 2025/in BizNews This Week, Business And Economic Strength, Hospitality And Tourism Rescue And Recovery, Transportation Options/by Jim Zeeben

Seair Seaplanes is set to launch a new scheduled seaplane service to Victoria. Flights begin Oct. 20 connecting Downtown Vancouver to the Inner Harbour.

“The Chamber strongly supports business growth, and we applaud the investments in infrastructure being made to bring Seair service to the Inner Harbour,” said Christina Clarke, Chair of the Greater Victoria Chamber of Commerce. “There is so much opportunity for growth in the tourism sector, which sustains so many businesses in Greater Victoria. This new option benefits visitors to our destination as well as many people who can use this service for business travel.”

Flights will arrive and depart from Seair’s new terminal at 1234 Wharf Street. Seair will primarily use Cessna 208 Caravan turboprop seaplanes, known as dependable and comfortable nine-passenger aircraft.

Seair Seaplanes began in 1982 and is headquartered at YVR’s South Terminal. Seair also operates from Vancouver’s Convention Centre and the Nanaimo waterfront.

New SIPP report says Greater Victoria at a crossroads

September 24, 2025/in BizNews This Week, Business And Economic Strength, Fair Rules, Finding And Keeping Workers, Global Uncertainty, Housing/by Jim Zeeben

A report released this week offers a path forward for a regional economy that is spinning its wheels in some sectors.

The South Island Prosperity Partnership offers a series of recommendations to overcome stagnation and reach our potential in Igniting Momentum, a 105-page report that came out of its Rising Economy Taskforce.

“The stakes are too high for business as usual in Greater Victoria,” the report concludes. “The evidence is clear: affordability pressures, productivity gaps, essential-worker shortages and external shocks are converging. But so are our advantages: world-class research, a thriving tech ecosystem, ocean and climate leadership, strong public anchors, entrepreneurial grit and a quality of life that draws talent from around the world.”

The Chamber helped contribute to the report’s findings, which align with much of the work the Chamber continues to do to attract investment and support our community.

“Greater Victoria is at a crossroads. Without bold, immediate action, we risk losing the talent, businesses and vibrancy that sustain our economy. Governments at all levels must do more to coordinate with the private sector to help ensure businesses can succeed,” Chamber CEO John Wilson said. “As BC’s second-largest metropolitan area, we can’t wait any longer. The Chamber promises to work with our members and partners across the region as the voice of business to address social challenges, increase access to skilled workers and grow our regional economy in ways guided by innovation, inclusion, and resilience. The time to act is now — to build a safer, stronger, and more prosperous Greater Victoria for everyone.”

Consumer confidence teeters, raising CUSMA stakes

September 24, 2025/in BizNews This Week, Business And Economic Strength, Chamber Awareness, Inflation And Rising Costs/by Jim Zeeben

There’s a growing sense that Canada’s economy will dodge the recession that many feared when US tariffs were announced. Economists are now saying recovery is already underway with opportunities for accelerated growth in 2026.

Statistics Canada will release the latest GDP numbers on Friday.

Regardless, many businesses are still feeling fragile due to the uncertainty of future trade agreements and a tightening labour market. The Canadian Chamber’s Business Data Lab reports that, after five consecutive declines, overall business confidence steadied this quarter.

“Businesses are showing remarkable resilience in the face of policy uncertainty, tariff threats and a softening labour market,” Business Lab VP Patrick Gill said. “With CUSMA review approaching, the stakes for Canadian competitiveness are high.”

The lab found that challenges finding labour remain acute in construction, hospitality and agriculture. Meanwhile, sluggish consumer demand is the biggest barrier to growth according to business data, outpacing labour and financing challenges.

Provincial deficit looms as Premier seeks fed funding

September 17, 2025/in BizNews This Week, Business And Economic Strength, Government Provincial, Inflation And Rising Costs, New And Established Businesses, Safe Communities, Streamlined Regional Regulations/by Jim Zeeben

A day after admitting the provincial books are deeper in the red than initially forecast, BC’s Premier is in Ottawa seeking more cash from the federal government.

On Tuesday, BC Finance Minister Brenda Bailey updated the budget forecast to show a deficit of $11.6 billion for 2025. That’s $665 million more than expected. The deficit is forecast to rise to $12.6 billion next year and $12.3 billion in 2027-28.

The Chamber is calling on all levels of government to focus on needs and set aside wants until our financial circumstances improve.

“I’m hearing from our business community that times are tight and they are doing everything they can to streamline and live within their means,” Chamber CEO John Wilson said. “They expect governments to do the same with the taxes they collect from all of us.”

The province has committed to cutting back its spending, noting it was able to find $300 million in savings this year.

Premier David Eby said he’s pushing for more major infrastructure projects in BC, as well as urgent action to address public safety.

The Chamber applauds these steps, while acknowledging that patience has worn thin among the business community facing a crisis from public disorder and the crushing burden of red tape and taxes.

“I’ll keep saying it as long as I need to. Enough is enough,” Wilson said. “We’ve heard enough announcements without seeing adequate results. That needs to change.”