|
The legal sale of cannabis in BC continues to grow, potentially reducing the size of the black market. Statistics Canada's figures show that British Columbians spent $57.3 million on legal cannabis in July — the highest month yet recorded.
Since cannabis was legalized four years ago, statistics show one in five people report using the product over the past year. The Chamber supports fair rules for all businesses, and we believe that the community benefits from an industry operating with legal regulations that protect the public and provide certainty to businesses.
0 Comments
 There is tremendous power in a coalition of organizations from every corner of the country that have an active role in connecting businesses with all levels of government. This was in full display earlier this month as the national chamber network gathered in Ottawa for the Canadian Chamber of Commerce's AGM.
"It really was remarkable to be among the voices of business communities from across Canada and hear how many of our concerns and challenges are shared," Chamber CEO Bruce Williams said of being a delegate at the meeting. "We were able to meet directly with a number of federal ministers and senior staff, who were quite keen to better understand what policies are needed to help businesses build resiliency." Williams also introduced a policy resolution at the AGM, highlighting the need for federal support of child care to enable parents to stay in the workforce and continue their careers. The resolution was adopted, along with a number of others supported by The Chamber that further our Advocacy Priorities. Local governments now know who will be leading them for the next four years. Last Saturday's civic elections in BC brought about sweeping changes in some municipalities, while affirming the direction of incumbents in others.
The Chamber will continue our work with all governments in Greater Victoria to ensure the voice of business continues to be heard. "Over the next few weeks I'll be extending an invitation to meet with all of the newly elected mayors and councillors," Chamber CEO Bruce Williams said. "As the regional Chamber, we can help municipalities build good relationships with their business communities. We also work with community chambers to amplify individual voices and connect with higher levels of government." The Chamber looks forward to continuing our tradition of dialogue to help create good economic conditions needed for a healthy business community. New councils must hold their first meeting between Nov. 1 and Nov. 10. The provincial government is increasing the threshold for the small business tax rate. The rate had been limited to businesses with less than $15 million in taxable capital. That is being increased to $50 million.
The changes will apply to taxation years that began on or after April 7 of this year. The shift aligns BC with the federal government and will particularity benefit businesses that are capital intensive. Greater Victoria's economy will grow by 2.6% in 2022 and 1.8% in 2023, but inflation won't return to "normal" until 2024, according to the Conference Board of Canada.
The latest Major City Insights report offers forecasts for 13 cities across the country. The board says our region's service industries will continue to be key drivers of the economy, with recovery continuing in the hospitality, entertainment and accommodation sectors. Employers can also expect to face ongoing pressure to increase wages as Greater Victoria's Consumer Price Index rises to 7.6% this year before dropping to 4% next year and 2.3% the year after.  Chamber CEO Bruce Williams gathered at Refire Kitchen with Downtown Victoria Business Association CEO Jeff Bray and Grant Thornton LLP partner Kyman Chan to officially launch Small Business Month in Greater Victoria. You can check out the Chamber's video of the event, at right. Throughout October, The Chamber is working with Grant Thornton to provide opportunities and resources for small businesses in our region. “Small businesses are the backbone of our economy and heartbeat of our downtown,” DVBA CEO Jeff Bray said. “Small Business Month provides a wonderful opportunity to celebrate the unique, vibrant and creative businesses that make up our downtown small business community.” To learn more about the events and activities The Chamber has planned for Small Business Month, go to victoriachamber.ca. Also, watch for next week's Chamber Chat with Kyman Chan of Grant Thornton. “Small business month is an important time to reflect on the importance of and to double down on supporting our amazing small businesses,” outgoing City of Victoria Mayor Lisa Helps said. “Our small businesses are a key character-defining feature of our downtown and our city. This month and always I encourage residents to pop in and visit them in person and resist the temptation of the online non-local alternative.” To paraphrase that old Isley Brothers hit, it's not quite time to "Shout," but inflation is trending "a little bit softer now." The latest figures from Statistics Canada show the pace of inflation slowed in September, with the cost of goods rising 6.9% from a year earlier. Inflation has been declining for three months, after peaking at 8.1% in June. The sharp rise in costs was initially attributed to fuel shortages caused by the war in Ukraine, a super-heated housing market and supply chain disruptions caused by the pandemic. However, fuel costs have stopped rising as sharply and supply chains are getting close to their typical efficiencies. "However, these gains were largely offset by the continued rise of prices for food and services. Unfortunately, there was no progress on 'core' inflation, which held steady at 5%," Canadian Chamber of Commerce Chief Economist Stephen Tapp said. "Today’s lack of progress on inflation — together with Bank of Canada surveys released earlier this week that suggested inflation expectations remain elevated — should be concerning enough to the Bank of Canada for them to deliver the 50 basis-point interest rate hike that the market expects (Oct. 26)."  The RapidBus service between the West Shore and downtown Victoria is expected to launch in early 2023. Construction on Douglas Street is ongoing, BC Transit said.
"RapidBus is transit service that outperforms the personal automobile in speed, comfort and reliability," states BC Transit's website. "It is connected, frequent, fast and reliable." The idea is to provide faster and more convenient transit to encourage more people to use the bus to commute. The goal is to go from 80,000 daily transit users today to 200,000 by 2038. The project is included in the BC Ministry of Transportation and Infrastructure's South Island Transportation Strategy, released in 2020. Better transit is one solution for improving transportation planning in Greater Victoria — something The Chamber continues to advocate for. Businesses thrive on certainty. So, knowing the costs of delivery services is a major win for restaurants that have spent the last few years building up their home delivery business.
Early in the pandemic, the provincial government placed a temporary limit on how much food delivery companies can charge. Last week, the province said it was moving to make the change permanent. “Transforming the temporary delivery fee cap into a permanent model is a game changer for the recovery of our industry and setting restaurants up to be able to thrive in the future,” said Ian Tostenson, president and CEO, BC Restaurant and Foodservices Association in a news release. The 15% cap on food and 5% cap on additional fees was set to expire at the end of the year. The Chamber applauds news that the federal government will allow international students to work more than their current limit of 20 hours.
Having access to a larger workforce will help us better achieve our economic potential. Allowing students to earn more money without interfering in their studies will also improve the economic situation of new graduates. Canada also relies on immigration to meet employment forecasts, and having people who have studied and worked here will only help with the adjustment to Canadian society. The pilot project begins Nov. 15 and is scheduled to run until the end of 2023, though there are already calls to make the extended hours permanent. Throughout October, the Greater Victoria Chamber of Commerce will be celebrating Small Business Month, sponsored by Grant Thornton LLP.
“Small businesses empower our community by bringing people together, creating jobs, and helping our economy thrive,” Grant Thornton LLP partner Kyman Chan said, noting his firm is helping small businesses weather the current inflationary storm and plan for future growth. “We’re proud to support the Greater Victoria Chamber of Commerce and businesses within the region during Small Business Month, and beyond.” We often hear small businesses called the backbone of a community. The fact is there is nothing small about businesses that employ more than half of all British Columbians. When you shop at a locally owned business, you are investing in the quality of life of your hometown. The dollars that go to local businesses recirculate in the community about 4.6 times more than the same money spent at corporations that have head offices far away or even in other countries. “We really experienced how important it is to spend locally over the last two years. Our support of businesses operated by friends and neighbours made a real difference in helping many make it through challenging times,” Chamber CEO Bruce Williams said. “This October, I encourage everyone to express their support by doing business locally — and by expressing gratitude to business owners for all they do to support our community.” To learn more about the events and activities The Chamber has planned for Small Business Month, go to victoriachamber.ca. New data released by the City of Victoria shows downtown continues to make significant strives toward economic recovery. A number of key indicators are now back to or even above pre-pandemic levels. In the second quarter of 2022, there has been a 37.9% increase in pedestrian counts downtown, as well as a 16.2% increase in business licences and a 22.7% jump in street parking. “When you shop at businesses deeply connected to our community you’re investing in your neighbours, friends, family and fellow local taxpayers. They are the people who make our region a great place to work, live and raise a family,” Chamber CEO Bruce Williams said.  Advance voting is now open for the Oct. 15 local elections. As leaders in our communities, chamber members can make a difference by encouraging all voters to mark their ballots by Oct. 15.
By voting, you are participating in the democratic process and learning about the people making decisions with your tax dollars. "As a non-partisan organization, The Chamber won't tell you who to vote for, but we will continue to ask that you do vote," Chamber CEO Bruce Williams said. "Even if you're not sure who the candidates are, it only takes a few minutes to find out and begin to learn what they stand for. Democracy is not about being perfect. It's about being able to participate — something we are privileged to do as Canadians." Step 1: Who is running in your municipality? Central Saanich Colwood CRD Electoral Areas Esquimalt Highlands LangfordMetchosin North Saanich Oak Bay Saanich Sidney SookeVictoria View Royal School District 61 School District 62 School District 63 Step 2: How to find out more information on candidates? We're lucky in Greater Victoria to have a number of sources of great journalism committed to keeping democracy healthy. Here are a few sources this week to help you learn more about the Oct. 15 election. The provincial government announced changes on Monday to the way certain property values are assessed. The move could potentially ease a burden faced by businesses whose property has been assessed based on its potential value. For example, a one-storey non-profit serving a downtown neighbourhood assessed as if it housed a high-rise condo resulted in massive unsustainable property tax increases.
The Chamber advocates for Fair Regulations, and we were successful in getting the province to review BC Assessment's "highest and best use" practice. The changes announced this week will allow municipalities to choose lower tax rates for select properties. Last week's news that the provincial government is making child care more affordable is a step in the right direction. The Chamber has long advocated for accessible and affordable child care as a vital investment in our economy.
On Friday, the province announced that parents can expect to save as much as $550 in child care costs every month. The new funding will go directly to licensed child care centres so parents don't have to apply. The savings will take effect in December, and help families with children who are kindergarten-aged or younger. The savings build on earlier cuts to costs and are funded by the federal governments $3.2 billion agreement with BC. Examples of how the program will help families and allow more parents to continue their careers include:
 Friday, 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.
"We will wear our orange shirts in support of everyone affected by the trauma that has left such a deep bruise on our society. We must acknowledge our role in this painful history and take action to change," Chamber CEO Bruce Williams said. "The Chamber will continue our work to support Indigenous owned and operated businesses as they are vital contributors to our region's economy." For information on The Chamber's Indigenous Economic Reconciliation Table, please email communications@victoriachamber.ca. What's happening on National Day for Truth and Reconciliation Here's a look at some of the events happening in Greater Victoria for the National Day for Truth and Reconciliation. The Songhees Nation hosts the South Island Powwow Friday. The first-of-its-kind event is free and is "an opportunity to recognize Survivors and their families in the spirit of reconciliation. Through song and dance, we will celebrate traditional Indigenous cultures and resiliency." Municipalities across Greater Victoria are hosting events to commemorate and celebrate indigenous voices. Across all 13 municipalities, flags will be flown at half-mast on Sept. 30, and events for reflection include: The City of Victoria hosts the Xe xe Smun' eem-Victoria Orange Shirt Day: Every Child Matters Ceremony from 10 am to 12:30 pm at Centennial Square. The event includes Indigenous performances, a minute of silence, and guest speakers sharing their personal experiences with residential schools and reconciliation. The District of Oak Bay hosts a truth and reconciliation event at the Sno’uyutth Welcome Pole at Oak Bay High School starting at 9:30 am. The pole, designed by Songhees Nation elder Butch Dick, symbolizes the beginning of a new relationship between the Oak Bay community and the Songhees and Esquimalt peoples Along with the region’s municipalities, post-secondary institutions have committed to close their campuses on Sept. 30 and are offering informative and inclusive events: The University of Victoria hosts various reconciliation events throughout the week. From informative lectures to workshops, students and faculty are invited to wear their orange shirts on Sept. 29 in the quad to witness the lighting of the Sacred Fire. The fire will burn until 3 pm that day, and visitors can listen to stories from residential school survivors, witness reflections and celebrate this year’s theme: Indigenous resurgence. Royal Roads University invites the community to join in-person and virtual events to honour the strength and resilience of Indigenous Peoples. This year, Royal Roads will raise the Survivors' Flag to honour residential school Survivors and all the lives and communities impacted by the residential school system in Canada. Each element depicted on the flag was carefully selected by Survivors from across Canada, who were consulted in the flag’s creation. Camosun College has created an Orange Shirt Day research guide to assist those in learning about the importance of honouring Indigenous voices. Camosun hosts an event at Na’tsa’maht: The Gathering Place, Lansdowne Campus on Sept. 29 at 1:30 pm with guest speakers Eddy Charlie and Kristin Spray attending. The election signs are everywhere and the number of candidates and sources of information can seem overwhelming. As leaders in our communities, chamber members can make a difference by encouraging all voters to mark their ballots by Oct. 15.
By voting, you are participating in the democratic process and learning about the people making decisions with your tax dollars. "As a non-partisan organization, The Chamber won't tell you who to vote for, but we will continue to ask that you do vote," Chamber CEO Bruce Williams said. "Even if you're not sure who the candidates are, it only takes a few minutes to find out and begin to learn what they stand for. Democracy is not about being perfect. It's about being able to participate — something we are privileged to do as Canadians." Step 1: Who is running in your municipality? Central Saanich Colwood CRD Electoral Areas Esquimalt Highlands Langford Metchosin North Saanich Oak Bay Saanich Sidney Sooke Victoria View Royal School District 61 School District 62 School District 63 Step 2: How to find out more information on candidates? We're lucky in Greater Victoria to have a number of sources of great journalism committed to keeping democracy healthy. Here are a few sources this week to help you learn more about the Oct. 15 election. Saturday marks the end of border restrictions that have been in place for much of the COVID-19 pandemic. The federal government has confirmed travellers will no longer need to show proof of vaccination or wear masks aboard planes and trains. There will also be no requirement for testing or quarantines.
The ArriveCan app will still be available to submit customs and immigration declarations, but will no longer be mandatory. "There's a real sense of relief in the tourism industry that their recovery will benefit from making it easier to welcome international travellers," Chamber CEO Bruce Williams said. "The restrictions served a purpose but we're at a different place in the pandemic, and a lot of people have been calling for these changes for awhile. Hopefully we can heal some of the divisions that resulted from the times being so uncertain." The shift also represents a time to reflect on how government responded during the pandemic. Canadian Chamber of Commerce CEO Perrin Beatty was co-chair of the Lessons Learned report that will help policy makers plan for future situations that require restricting access to our border. The Chamber applauds the decision by the City of Victoria to extend its Business Recovery from Pandemic bylaw into the spring. The bylaw was set to expire at the end of October. The bylaw temporarily allowed businesses to use outdoor spaces for patios and other commercial activities.
"Businesses are always at the forefront of innovations that move our economy forward and build resilience," Chamber CEO Bruce Williams said. "We're happy to see local governments working with businesses to include initiatives that are being asked for by the public." The deadline extension potentially gives city staff time to look at individual situations to ensure they're safe and accessible, as well as their impact on parking in downtown Victoria. As we approach the National Day for Truth and Reconciliation, The Chamber would like to encourage everyone to support Indigenous businesses and artists that make our community whole.
At the upcoming 2022 Chamber Auction, we are proud to feature donations that highlight Indigenous art, culture, education and business, including:
2022 Auction Take a sneak peek at some of the incredible items available at the 2022 Chamber Auction, which runs Nov. 6 – 13. Interested in having your products or services showcased at our auction? Email specialevents@victoriachamber.ca or fill out our 2022 Auction Donation Form. As an event sponsor, Maximum Express, Courier, Freight and Logistics is offering donors complimentary delivery of their auction item to The Chamber Office. Any questions? Please call (250) 383-7191 or email specialevents@victoriachamber.ca Today is the first day of fall! Put away your white shoes and celebrate the beginning of cooler, cozier times while supporting your fellow Chamber members.
As the weather gets cooler, take a moment to think about those in Greater Victoria who may not have warm clothes or a place to stay. View Chamber member non-profits here to learn how you can give back this autumn. The latest numbers show inflation has cooled faster than expected. The August Consumer Price Index was up 7% over last year — less than the 7.3% that had been forecast. Core inflation was also lower than expected.
The drop in inflation comes after the Bank of Canada raised interest rates. However, it will take more than numbers to stem inflation and get Canada's economy back on track, said the bank's Deputy Governor Paul Beaudry. "Some have suggested that policy-makers need to engineer a substantial slowdown — or even a recession — to get inflation back under control," Beaudry said in a speech on Tuesday. "But the best strategy for responding to high inflation needs to consider how people form their inflation expectations. If people understand and believe that the central bank will eventually bring inflation back to target, their expectations will remain 'anchored.'” Businesses and employers can help by moderating increases to prices or wages, with the understanding that inflationary pressures are temporary. Not an easy task for organizations facing increasing costs and still recovering from pandemic challenges.  An enthusiastic roomful of Chamber members enjoyed a heartfelt and engaging presentation by Jonathon Morris, CEO of the BC Division of the Canadian Mental Health Association. The event, part of The Chamber's Business Leaders Luncheons series, was held at the Parkside Hotel & Spa on Tuesday afternoon. Morris spoke about the benefits of better understanding the psychological health of our workplaces. Many employers in the room noted ongoing efforts to reduce the stigma of mental illness and promote safer and more productive organizational cultures. Morris and Chamber CEO Bruce Williams discussed how businesses can improve their bottom line by taking steps to ensure staff feel safe and supported. Special thanks to event sponsors Coastal Community Credit Union.  Jonathan Morris, CEO of the BC Division of the CMHA, speaking yesterday about the importance of mental health in the workplace. The Chamber's Business Leaders Luncheon was sponsored by Coastal Community Credit Union. As we mark the start of fall, tourism and hospitality businesses can look back on a successful summer.
A return of customers kept many restaurants operating at capacity, though they did face other constraints. A lack of staff and a public sector strike that made stocking liquor a challenge cast a shadow on a season that many businesses rely on to make it through slower seasons. Ian Tostenson, president and CEO of the BC Restaurant & Food Services Association told CHEK News that many Victoria restaurants operated with 80% of their staff. The accommodation sector also enjoyed strong season. The latest Victoria Tourism Bulletin from Chemistry Consulting reports that occupancy rates in July were up from 2021 and close to 2018 levels. The average rate for a room was $305 in July, up from $230 in July 2021 and $250 in July 2019. BC Ferries also reported a return to pre-pandemic levels in vehicles, though there were fewer passengers and buses onboard in July. The Victoria International Airport welcomed 162,000 passengers, which is getting closer to the 185,000 in July 2019. And the Victoria Conference Centre saw a big increase this year with 8,211 delegate days in July compared to 3,633 in July 2019. The Chamber applauds the provincial government's initiative to seek public input on plans to rejuvenate Belleville Terminal. The facility in the Inner Harbour has served as a gateway for international visitors arriving by water since 1924. As a champion of our region's tourism industry, The Chamber has consistently advocated for the terminal and the need to modernize it with the times. "We've been calling for renovations for decades, and it's taken time to get all levels of government onboard," Chamber CEO Bruce Williams said. "Now that we've done that, there's no time to lose. The requirements to be a border crossing have changed and there's a real risk we could lose our port of entry." More than 680,000 passengers travelled through Belleville Terminal in 2019 and spent about $174 million in Greater Victoria, says the province's project plan. Belleville Terminal generates 220,000 overnight visitors and sells over 16,000 vacation packages annually to their passengers, all of which are provided by local businesses in Victoria. The province is developing a business case for the project. It's expected to cost up to $290 million and be completed by fall 2027. A temporary terminal will be built until a new facility is ready.  |
Copyright © 2021 Greater Victoria Chamber of Commerce. All rights reserved.
#100 – 852 Fort St., Victoria, BC V8W 1H8, Canada | Phone: (250) 383-7191 chamber@victoriachamber.ca | Site Map |
Notice a typo or broken link? Please let us know so we can fix it ASAP. Email communications@victoriachamber.ca