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This summer feels like a turning point for businesses that have been challenged by the uncertainty in our economy. According to the Bank of Canada’s July Business Outlook Survey, there’s a sense in the private sector that inflation is no longer the threat it has been for the past two years. The same sentiment is shared by the general public, according to the bank’s Canadian Survey of Consumer Confidence.

The shift is welcome news as it allows organizations to plan with certainty and get back to business fundamentals. Instead of spending so much time and money on securing supply lines or worrying about increasing prices to cover costs, business owners can focus on the purpose of their  enterprise — serving the needs of their customers.

I speak with dozens of business leaders every month and the insights they provide are crucial to helping the Greater Victoria Chamber of Commerce remain relevant. We’re a non-profit, but we don’t receive any funding from government. We earn our operating revenue from our members, by providing valuable benefits and support, and through our paid events with high-profile speakers, such as our ongoing Leading to Election series.

We hear about many approaches to growing business, and all have their time and place especially during times of rapid change. For example, during the pandemic and the past few years of global uncertainty, we adopted new technology and management styles that have helped us stay competitive and retain skilled staff. We’re better positioned today because of our ability to be agile.

However, with more stable times in the forecast, I’m excited to retrench our organization and focus even more sharply on our primary mission — serving the needs of our members. One of the best tools we have for understanding our members is our annual survey, conducted earlier this summer. We heard from member organizations of all sizes and from all sectors. And while some of the suggestions for improvements initially seemed contradictory, the values they expressed are remarkably aligned.

Respondents want us to keep all levels of government accountable. They want us to advocate for sustainable, steady and inclusive economic growth and they want us to drive progress on social issues to benefit everyone. In short, they want us to continue our mission of Working Together to Build Good Business and Great Community for All.

The survey data also supports our efforts, with 97% of respondents saying they are satisfied with our customer service, 83% rating our events above average and 90% finding value in our advocacy work. These numbers form a new baseline for our staff and Board of Directors to aim for, and I’m personally grateful for the hard work and expertise of everyone who helps make our organization a success.

I’m looking forward to sharing more insights with businesses in the coming weeks and months and encouraging all organization leaders to remember your purpose. Your clients and customers need you.

By understanding that and listening to what they’re saying, I’m positive that 2024 and beyond will be remembered as a great time for all businesses.

Bruce Williams is CEO of the Greater Victoria Chamber of Commerce