RRU micro-credentials offer climate strategy skills

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The world has changed quickly and employers require new skills to meet their potential. The Chamber has been a vocal advocate for micro-credentials as a way to provide people with the skills needed to do the work that’s in demand.
 
“We’re encouraged by the MicroStart Program, which is part of a collaboration between the South Island Prosperity Partnership and Royal Roads University and the University of Victoria,” Chamber CEO Bruce Williams said. “Innovation led by business is the best way to address challenges such as climate change and Royal Roads’ Climate Adaptation Fundamentals Micro-Credential is focused on skills that integrate climate strategies into people’s work.”

Welcoming nine millionth cruise ship passenger

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The Greater Victoria Harbour Authority is preparing to welcome the nine millionth passenger to the Victoria Cruise Ship Terminal at Ogden Point. The lucky passenger arrives Friday afternoon.
 
“Many businesses in Greater Victoria provide services for cruise ships and their passengers, and welcoming the ninth million unique visitor shows how much the work of these businesses has made our region appealing to travellers,” Greater Victoria Chamber of Commerce CEO Bruce Williams said. “As travel opens up around the world, we are proud to see Greater Victoria has earned its place as a preferred destination for cruise ships.”
 
The ten millionth cruise ship passenger is expected in Victoria by 2024.

Chamber CEO promotes region across the province

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Word is getting out about the best small cities in Canada. On Monday, Chamber CEO Bruce Williams took part in a Black Press podcast discussing why the City of Victoria and District of Saanich are great places to live and work. The podcast, by Peter McCully, appears on 75 newspaper websites.
 
“These lists are a lot of fun and there certainly are other Greater Victoria municipalities that could have been included,” Chamber CEO Bruce Williams said. “Having Victoria place No. 1 and Saanich in the Top 25 does help raise awareness about our region, which attracts visitors, workers and investment.”

Migration outpaces housing in Greater Victoria

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A report by the Chartered Professional Accountants of BC has confirmed expectations that people are moving to Greater Victoria faster than homes can be built for them. Our region added 5,941 residents in 2021 bringing our regional population to 432,062. Going back five years, Greater Victoria has added 31,500 people. And, although 16,942 housing units have been completed in that time, they have not met the demands of the market.
 
“Across the region, there has been strong housing construction activity. However, developments have typically been smaller attached units replacing older stock, with limited mid-sized units,” said Chamber Governor Lindalee Brougham, President of LL Brougham Inc. “The strongest demand has been for larger units, which has put significant pressure on housing prices for family homes.”
 
All of the region’s growth is coming from migration as people move here from other parts of Canada. Greater Victoria’s natural growth remains negative as fewer babies are being born here compared to the number of residents dying.

Inflation rises, though less than many expected

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Fueled by surging gas prices, Canada’s inflation rate rose again last month to 8.1%. If the cost of gas is taken out, the rate would be 6.5%.
 
Other factors contributing to our higher cost of living include jumps in grocery bills, accommodation and ticket prices for sports and concert events. If there is a silver lining it is that the increase was less than expected. Whether this signals peak inflation is unclear. Many experts are forecasting inflation to begin falling in the next few months.
 
The Chamber is working with a number of members to get a clearer picture of what rising rates mean for business. Watch for updates in future editions of BizNews.

Bank of Canada tries to tackle stubborn inflation

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The Bank of Canada increased the policy interest rate by 1% Wednesday morning. The jump is more than what many financial pundits expected as the bank tries to get ahead of rising prices.

“Inflation is broadening because the Canadian economy is in excess demand. There aren’t enough goods and services to meet the demand we’re seeing as people enjoy a fully reopened economy,” Bank of Canada Governor Tiff Macklem said. “Employers can’t find enough workers and they’re increasing wages to attract and retain staff. With households spending robustly, businesses are passing on higher input and labour costs by raising prices.”

The Chamber recommends reaching out to your banker or mortgage expert to better understand the shifting landscape created by the Bank of Canada’s announcements.

Canada’s Premiers gather at Songhees Nation

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An historic meeting at Songhees Nation this week brought together Canada’s provincial premiers as well as leaders from National Indigenous Organizations. The two-day meeting wrapped up with an urgent call for the federal government to fund a modernization of Canada’s health care system.

“The whole continuum of care needs to be revisited. And now is the time to do that,” BC Premier John Horgan told the Times Colonist. The discussion also needs to include Indigenous voices, which have not had a seat at the the table in the past.

“Hosting this meeting at the Songhees Wellness Centre reflects and amplifies Indigenous voices in the decision-making process,” the Songhees Nation said in a statement about the gathering.

Report helps retailers understand consumer trends

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Consumers want to retain some of the benefits of spending more time at home, according to a report by professional services network PWC. The report found that 56% of Canadians are enjoying home cooking and only 6% said they expect to do less of it in the months ahead. As well, 34% of respondents said they shop local more often than before the pandemic and only 4% think that will change in the near future.

Not surprisingly, the increased ability to make purchases online has become a habit with online shopping levels stabilizing after a surge in growth. The lesson for retailers is that customers want the best of both worlds — the convenience of buying online and the experience of shopping in-person.

Su’it Street shows action toward reconciliation

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Actions matter on the road to reconciliation, and The Chamber applauds the decision by the City of Victoria to rename a municipal throughway Su’it Street. Pronounced “say-EET,” the new name is Lekwungen for “truth.”

The street had been named for Joseph Trutch, who was born in England and became involved in colonial politics in British Columbia. He was an avowed racist who refused to acknowledge Indigenous treaties and titles.

“With the renaming of this road, the Lekwungen people are not only able to share our native language, but also decolonize a chapter of local history,” Songhees Nation Chief Ron Sam said in a media release. “We will continue to work with the City of Victoria to change the narrative on historical figures, and towards a partnership reflective of truth and reconciliation.”

The Chamber continues to work with Indigenous individuals and nations to facilitate inclusion in the broader business community.

Rogers network outage shows need for reliability

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Last Friday’s network disruption at Rogers Communications affected many businesses who relied on the service for financial transactions or other communication needs.

Details are still emerging about what caused the outage and Rogers has so far promised to make sure the issue doesn’t happen again and credit customers for five-days of service.

The disruption prompted the federal government to call on all communications companies to create a plan to mitigate the impact of any future outages.

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