Tax experts offer update on latest in federal relief

We’re now eight months into the pandemic in BC, and businesses are finding their way — often with help from government relief programs that have been rolling out since the spring. On Tuesday, The Chamber hosted the latest offering in our Business Restart Series with tax experts Kris Wirk and Matthew Hohnsbehn. If you didn’t have a chance to watch live, you can still view the recorded video.

Kris and Matthew provided insight into the most popular programs, including updates and changes to what you need to apply. This video is particularly timely for businesses that are accessing the wage subsidy, the emergency business account and the recently revised emergency rent subsidy.

Register to watch the video

Economic development agency eyed for BC: Joly

Picture

Canada’s Economic Development Minister Melanie Joly said BC could have its own agency to help businesses bounce forward after COVID-19.

“We need to be much more focused on British Columbians’ realities and needs, and the pandemic has exacerbated this reality,” Joly said in a report by Postmedia this week. “When you look at other regions of the country, there is a very strong presence of the federal government. But that’s not necessarily the case as much in British Columbia.”

The Western Economic Diversification Agency currently serves BC as well as Alberta, Saskatchewan and Manitoba. Joly was a guest speaker last Friday at the South Island Prosperity Partnership‘s Rising Economy Week.

Joly, pictured above, spoke to Chamber members last year as part of our Business Leader Series of luncheons.


Victoria ranked among world’s top-5 small cities

Picture

Victoria continues to shine on the international stage as Monocle magazine has named our city one of the top five small cities in the world.

“Victoria is at the heart of a vibrant South Island region. Our city has made an effort over the last few years to diversify our economy, especially in our ocean research and technology sectors, drawing new talent and energy into our region,” Chamber CEO Bruce Williams said in the City of Victoria’s news release. “Despite the recent challenges of the pandemic, this recognition reinforces the fact that we continue to be one of the most desirable places to live and work in the world.”

Porto, Portugal, topped the list followed by Leuven, Belgium, Itoshima, Japan and Lucerne, Switzerland.

The list features cities that Monocle‘s editors believe are the best options for people looking to move away from big cities. The top small cities were selected in part because they are well connected internationally, and have progressive and nimble local leadership.


Meet the candidates: Chamber hosts lively debate on priority issues for business in Victoria

Meet the candidates: Chamber hosts discussion on priority issues for business in Victoria
The Chamber hosted a virtual Candidate Discussion today ahead of the City of Victoria‘s by-election on Dec. 12.

The panel featured five candidates selected for their experience and approach to business issues facing the city. We also think voters should be aware of which candidates are running as independents, and who is running on behalf of a slate. The five who took part in the discussion:

  • Sean Leitenberg, independent
  • Jason Heit, independent (has now chosen to endorse Stephen Andrew)
  • Bill Heflin, independent
  • Stefanie Hardman, Together Victoria’s candidate
  • Stephen Andrew, independent

You can watch the video at victoriachamber.ca/vicbyelection. On the same page you can find the Questions and Answers open to all 11 candidates on the ballot.

For more information on when and where to vote, including for those who own property in the city but reside outside it, go to victoria.ca.

Downtown needs help as new restrictions imposed

What does local mean to you? The answer to that question will be key to ensuring Greater Victoria is able to recover from the pandemic and gain added resilience as we move forward. As the province ramps up temporary restrictions to try and reduce the transmission of COVID-19, not everyone is being impacted equally. Downtown Victoria, in particular, is facing a difficult few weeks as the provincial government backs away from its plan to move workers back to their offices.

“If people are not coming downtown to work. They are probably not coming downtown to shop,” Chamber CEO Bruce Williams told CHEK News, noting that suburban hubs are faring better. The Chamber urges people to find ways to support business in need. Why not make a special trip downtown while parking is abundant and protocols are in place to ensure customers’ safety? It’s also easy to support businesses by purchasing from them online for pickup or delivery.

The Downtown Victoria Business Association has a Shop Downtown from Home campaign underway encouraging locals to support businesses in the downtown core.

Please do what you can to support each other so we can get through this together. #InItTogetherYYJ #ChamberLocalVicBC

Feds plan to boost immigration to grow economy

The Chamber has been a vocal advocate for increased immigration as Vancouver Island is facing a severe labour shortage over the next decade. On Oct. 30, the federal government announced an ambitious increase to immigration levels to try and make up for the low number of new arrivals this year.

Immigration Refugees and Citizenship Canada’s Minister Marco Mendicino said Canada will bring in 401,000 immigrants next year, 411,000 in 2022 and 421,000 in 2023.

“It’s difficult to predict exactly how many newcomers will arrive in the Capital Region over the next three years,” the Inter-Cultural Association of Greater Victoria says in its latest newsletter. “Usually, we see roughly 2,000 annually.”

The Canadian Chamber of Commerce is calling on government to ensure new arrivals to Canada are a match for sectors that need workers. The pandemic has skewed the unemployment rate, though the fundamental concerns will likely still be there after the economy recovers.

Unemployment rate reflects K-shaped recovery

Greater Victoria’s unemployment rate dropped to 7.6% in October from 9.1% the month before, according to Statistics Canada’s latest figures.
 
The numbers reflect what is now being called a K-shaped economic recovery, with some businesses able to return to pre-pandemic operations and others still facing an uncertain future.
 
Across Canada, 57% of businesses in the accommodation and food-services sector report they are unable to take on more debt. About one-third of those say, at current levels of business, they will need to consider closing, declaring bankruptcy or reducing staff unless revenue increases in the next six months.
 
“With finite public resources available, we need to look carefully at the return on investment of government spending,” said Canadian Chamber of Commerce Chief Economist and Vice-President of Policy, Dr. Trevin Stratton. “Some programs are more beneficial than others. Some policies will contribute more to economic growth. Let’s make sure federal spending is focused on quality over quantity.”

Child care spaces open in school district 61

The pandemic has been especially difficult on working parents, with women disproportionately suffering income loss as they leave jobs or reduce hours to care for children. The Chamber has been calling for investment in accessible child care for years.
 
Some good news this week as the Greater Victoria School District announced on Friday that it is creating 316 childcare spaces across the region. The school district has completed four childcare studios in Saanich and is building five others that are expected to open in early 2021.

SIPP releases plan to reboot regional economy

Ensuring all sectors play a role in recovering from the pandemic is one of the key elements of Reboot: Greater Victoria’s Economic Recovery Plan. The report, released Monday, is the work of the Rising Economy Taskforce, which brought together 40 business, community, government and academic leaders to work on 12 sector committees.
 
“I worked closely with other community leaders and the South Island Prosperity Partnership, and I think this report is an invaluable tool for making decisions about where we want to see investments made to achieve a full and equitable recovery,” Chamber CEO Bruce Williams said.
 
Among the recommendations are a call to embrace the 21st-century innovation economy and the creation of an Indigenous Economic Development Office.

How businesses can vote in Victoria by-election

The Chamber has reached out to all 11 candidates registered for the City of Victoria‘s by-election on Dec. 12. We want to know where candidates stand on issues that are priorities for our members and the region’s business community. We’ll share the responses next week. We’re also hosting a candidate discussion on Nov. 25 at noon.
 
This by-election is a rare opportunity for people who have businesses or income properties in the municipality but live outside its borders.
 
Typically during civic elections, voters will cast their ballot in the municipality in which they reside. But doing so disqualifies them from also voting in a different municipality where they own commercial property.
 
With the Dec. 12 by-election only happening in Victoria, there’s a lot of interest from people who have a business in the city but live outside its borders.
 
For information on who is eligible to vote as a non-resident property elector, here’s a link to the details. A few notable requirements include:

  • You must be a registered owner of the real property and are not holding the property in trust for a corporation or another trust. There is no corporate vote in BC.
  • If there is more than one registered owner, you’ll need written consent of the majority and only one of you can cast a vote as the non-resident property elector.

 
Call Legislative Services at 250-361-0571, or check out Victoria.ca for 2020 Information for Voters, including what documents you need to register as a non-resident property elector.
 
It’s a great opportunity for business owners to ensure their voice is represented on Victoria council.