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The collective strength of the Ontario Chamber network to advocate for businesses during one of the most turbulent economic junctions in Canadian history became a unifying theme at the recent Ontario Chamber of Chamber of Commerce AGM in Windsor.

The event – held April 24-26 and hosted by the Windsor Essex, Amherstburg and Leamington District Chambers of Commerce - brought together approximately 150 delegates representing 60 chambers provincewide to network, hear from economic leaders, and to debate policies that can create evidence-based solutions to benefit the business community and province’s economic growth.

“The annual AGM is a great opportunity for Chamber leaders to not only share ideas and best practices, but to find ways to navigate current economic upheavals created by U.S. President Donald Trump’s continued trade threats,” says Cambridge Chamber of Commerce President and CEO Greg Durocher, who attend the AGM accompanied by Board Chair Murray Smith. “Having a unified voice is pivotal, especially now, in helping to create the certainty businesses need.”

Drop in business confidence

It was a sentiment echoed by Ontario Chamber of Commerce President and CEO Daniel Tisch during his opening remarks at the conference, entitled Bridges, Not Barriers. 

He spoke about the immense stress business leaders are under due to staffing concerns and rising prices and referenced the OCC’s ninth annual Ontario Economic Report (OER) released earlier this year which showed a significant rise in business confidence over the course of 2024, climbing from a historic low of 13 per cent to 26 per cent by year’s end.

However, despite this improvement, confidence remains historically low and fragile, with 48 per cent of businesses expressing a lack of confidence in the economy. When U.S. tariff threats are on the table, business confidence dropped dramatically to just 15 per cent, almost erasing the last year’s gains, according to the OCC’s separate tariff survey in early February.

Tisch said business leaders are looking for assistance and guidance, noting the Chamber network is the best organization to take on that leadership role.

Trade clarity will come

“We can provide that platform and provide the clarity and collaboration and continuity they need to be successful, and that they deserve because we need them to help build our province and to create jobs and economic opportunity and the growth that we all want,” he said, adding Canada will eventually achieve some level of clarity when it comes to U.S. trade. “We don’t exactly know when, but we know that it’s going to be fragile and as long as the president (Trump) is in office there is no guarantee he will respect any (trade) deal that he signs because he didn’t respect the last one. We can’t put all our eggs in that basket anymore and have to diversify as a trading nation.”

Competitiveness was the underlying theme of two sessions at the AGM featuring a panel of experts, including Windsor Essex Chamber of Commerce President and CEO Ryan Donally, who spoke about the long-standing trading relationship between the U.S. and Canada. It was noted that 25% (approximately $320 to $390 million) of all trade between the two countries crosses the Ambassador Bridge daily.

Long-term strategies needed

“You can’t unscramble this egg since cross-border trade has been around for at least a century,” he said, adding Trump’s tariffs will cost thousands of jobs on both sides of the border before stressing the need for trade diversification and long-term strategies.

It was a sentiment shared by Luke Polcyn, Senior Executive, Development and Economic Transformation for the City of Detroit, who outlined the vibrant trading relationship between the two cities and the opportunity for cross-border partnerships in terms of innovation assets.

“This disruption (tariffs) is being done in our name but ask any SMEs on the U.S. side and they would tell you the system could be tweaked but not blown up,” he said.

A second panel of experts which focused on Ontario’s ‘competitive edge’ offered insights on how key sectors can navigate policy changes, and how the province can build on its future competitiveness.

“Our responsibility at the moment is to think long-term,” said panelist Jaipaul Massey-Singh, CEO of the Brampton Board of Trade, adding more could be done to commercialize innovation. “Let’s not let this crisis go to waste. It’s not all doom and gloom but a wakeup call.”

He stressed the need to hold decision-makers accountable to push for change, an opinion shared by a fellow panelist, Sueling Ching, President and CEO of the Ottawa Board of Trade.

“We must demand a continued collaboration of strategies,” she said. “Our new normal is change.”

Policies will help businesses

In effort to make changes, this year 36 policies were approved by the delegates covering a wide variety of issues that can directly affect businesses. These included  policies relating to education, healthcare, homelessness, mental health and addictions, transportation, infrastructure, and manufacturing. These policies now become entrenched in the Ontario Chamber of Commerce’s policy ‘play book’ to guide its ongoing advocacy work at Queen’s Park.

The Cambridge Chamber co-sponsored three policies which received support from delegates:

Create and Implement a Provincial Strategy to Address Homelessness, Mental Health and Addictions

• This policy outlines several recommendations for the Province, including ensuring social services outreach teams are available as partners to police throughout Ontario to support marginalized individuals and improve province wide data collection and access for frontline services to enable better decision-making. Also, prioritize funding, program, and policy changes to better support those with complex mental health conditions that may pose a risk to themselves and others, and incentivize municipalities to develop more low barrier supportive housing solutions.

Cutting Administration for Ontario Physicians

• This policy sets out several recommendations, including encouraging the Province to collaborate with physicians, healthcare administrators and stakeholders to set key performance indicators for administrative workloads and set targets based on industry benchmarks to ensure improvements in physician efficiency. It also calls for the prioritization of secure digital technology to reduce administrative burdens, and collaboration with the Ontario Medical Association and other healthcare organizations to implement proven strategies that reduce physicians’ workloads.

Ontario Government Assistance on Employment Land Assembly

• This policy calls for the Province to financially assist municipalities with the purchase of land for major industrial and economic development projects. It also recommends funding support be provided for necessary infrastructure, such as roads, utilities, and servicing, to enhance the viability of potential employment lands to attract investors. As well, it recommends the need for regional partnerships and engagement with the private sector to optimize both existing and new employment land uses to ensure the land assembly efforts integrate with broader economic strategies. 

The political landscape of the United States has always had ripple effects beyond its borders, particularly in Canada. The two countries share not only economic ties but also social, cultural, and psychological interconnections. 

In recent years, particularly during Donald Trump’s first, and now second presidency, Canadians have reported increased levels of stress and anxiety related to the political climate south of the border. From threats of tariffs to talk of annexation and aggressive foreign policies, these developments are more than just headlines—they’re mental health triggers.

“Unfortunately, right now in particular, our world is very unsettled,” says Helen Fishburn, CEO of the Canadian Mental Health Association, Waterloo Wellington Branch. “We’re feeling it in every part of our lives and the ground we're walking on is literally changing day by day.”

Throughout the pandemic, she says the CMHA experienced a 40% increase in call volumes pertaining to mental health issues which have not returned to pre-pandemic levels creating a ‘new normal’ level, which has only been exacerbated by Trump’s talk of tariffs and annexation.

Beyond the economic implications, there is a psychological toll in witnessing long-standing alliances become strained. Canadians often view the U.S. as not only a close neighbour but also a partner in shared democratic and cultural values. When that relationship feels uncertain—especially when threatened by economic aggression or nationalist rhetoric—it can lead to a sense of instability, helplessness, and even identity confusion for some.

People feeling anxious

“We’ve seen another uptick in calls and concerns, but that's not unusual for us when the world is unsettled and things are happening in our community that people feel very anxious and worried about,” says Helen. “It’s a tough world that we're navigating right now.”

She says it’s important for people to take responsibility for their own mental health, which can be difficult when it comes to navigating negative posts on social media.

Paying attention to yourself is key she says.

“Ask yourself, ‘What are the things that I'm doing to cope right now?’, especially if you're in one of those sectors that's really impacted by tariffs like the automotive industry, food, construction, agriculture, forest and mining,” says Helen. “We have to be a little more vigilant about our mental health.”

First and foremost, she says we have a responsibility to try and manage the stress that we're experiencing in our lives in a way that's healthy and productive.

“But there are times that we lose our ground, and we just don't always catch it,” she says.  “However, you can see it sometimes in other people sooner than you can see it in yourself.”

In workplaces, she says it’s important for employers to recognize when an employee may be struggling, looking for various signs such as sudden absenteeism, significant tiredness, or introverted behaviour from someone who has always been more extroverted. She notes that approximately $51 billion annually in Canada is lost due to mental health issues in the workplace.

Connection good for mental health

“First of all, the most important thing is to actually name it and talk about the stress we're under,” says Helen. “Talk about the impact of all the things that are happening in the world, most of which we don't have any control over, and really identify that and create opportunities for employees to talk about it.”

She says setting healthy boundaries is important, ensuring employees can disconnect from their workplace and encouraging them to access EAPs (Employee Assistance Programs), or provide pamphlets and information through email that can benefit them. 

“Continue to regularly encourage people to connect as they need to, and then have managers check in with their staff in a very kind of informal, non-judgmental way,” says Helen, adding employees must also not be made to feel they are being monitored. “But it can go a long way when your manager just says, ‘How are you doing with all this? How are you managing? Is there anything you need?’”

At the CMHA, which has approximately 450 staff members working across nine offices, staff meet several times a year, plus an online forum is used where employees are encouraged to ask questions. 

Supports are available

“You need to find multiple ways to keep your employees engaged because those are the kind of things that keep people feeling connected and grounded,” says Helen, adding how important this can be considering hybrid workplaces. 

For those workplaces that require mental health supports, she says the CMHA has many resources available, including its ‘Here 24 Seven’ service where people can access assistance for themselves or a family member via a toll-free number (1-844-Here-247), or by visiting www.here247.ca.

“Just call us and we'll help you figure out. We're always available to help people and make sure that they get to where they need to get to it,” says Helen, noting the economic impact mental health has on businesses can’t be ignored.  “We continue to be very underfunded across the mental health sector as it relates to healthcare in general. We're struggling to meet the needs that's out there and know the need just continues to rise and be even more intense.”

Methods business leaders can support the mental health of their teams:

Foster an Open and Supportive Culture

By normalizing conversations and showing vulnerability—such as discussing stress or burnout—they help reduce the stigma. Encouraging open dialogue, offering empathy, and actively listening to employee concerns create a safe space where people feel comfortable seeking help.

Provide Access to Mental Health Resources

Organizations should invest in resources that support mental well-being, such as Employee Assistance Programs (EAPs), therapy services, wellness apps, and mental health days. Leaders should ensure employees are aware of these benefits and encourage their use without fear of judgment or career repercussions.

Promote Work-Life Balance

Leaders can model healthy work habits by setting clear boundaries, taking time off, and respecting employees’ personal time. Flexible work schedules and remote options also help employees manage stress and balance responsibilities.

Train Managers to Recognize Signs of Distress

Managers are often the first to notice changes in behaviour or performance. Providing them with mental health training helps them recognize warning signs and approach sensitive conversations with care. Empowered managers can guide team members to appropriate resources and support early intervention.

Create a Culture of Recognition and Purpose

Leaders should regularly acknowledge employee contributions, celebrate successes, and clearly communicate how individual roles support organizational goals. A sense of purpose can be a powerful buffer against stress.

Encourage Breaks and Downtime

Leaders should encourage regular breaks, manageable workloads, and discourage a “grind” culture. Even small gestures, like encouraging walking meetings or designated no-meeting hours, can make a difference.

Lead by Example

When leaders openly prioritize their own mental health—taking time off, using wellness benefits, practicing mindfulness—they give employees permission to do the same. Authentic leadership builds trust and encourages a healthier workplace dynamic.

Continuously Evaluate and Improve

Supporting mental health is an ongoing effort. Leaders should regularly gather feedback through surveys or listening sessions and adjust policies and practices accordingly. What works for one team may not work for another, so flexibility and responsiveness are key.

Canadian businesses are grappling with significant challenges stemming from U.S. President Donald Trump's imposition of tariffs.

These measures have introduced economic uncertainty, disrupted supply chains, and strained the historically robust trade relationship between Canada and the United States.

That uncertainty has been compared to what many businesses felt when the pandemic virtually shut down the economy, creating chaos and confusion.

To assist the local business community as they did then, the Cambridge Chamber of Commerce and Greater Kitchener Waterloo Chamber of Commerce have relaunched their Ask the Expert initiative to share information and resources.

Held online every Thursday from 9 a.m. to 10 a.m., Ask the Expert provides business operators the opportunity to discuss their concerns, as well as hear the latest news and insights from a variety of professionals surrounding the issues related to this escalating trade war, including federal aid programs.

Global growth slowdown

Among those who recently shared their knowledge was Automotive Parts Manufacturers’ Association (APMA) CEO Flavio Volpe who discussed, among other things, the impact tariffs will have on auto industry on both sides of the border. 

“It almost feels a little bit like we are in the early days of the pandemic when business owners we’re just trying to understand what was happening,” says Cambridge Chamber President and CEO Greg Durocher, describing the uncertainty currently being felt by business owners.

The Organization for Economic Co-operation and Development (OECD) has highlighted the detrimental impact of these tariffs on the global economy, with particular emphasis on Canada.

The OECD forecasts a slowdown in global growth to 3.1% in 2025 and 3.0% in 2026, attributing this deceleration partly to the trade tensions initiated by the U.S. Specifically, Canada's economic growth is projected to decline to 0.7% in 2025, a significant reduction that underscores the profound effect of the tariffs on the nation's economic trajectory.

Eroded business confidence

The unpredictability associated with the on-again, off-again nature of the tariffs has eroded business confidence.

The latest CEO Confidence Index from Chief Executive magazine indicates a significant drop, reaching the lowest level since November 2012. This decline is attributed to the fluctuating tariff policies between the U.S., Canada, and Mexico, which have made long-term planning and investment decisions increasingly challenging for businesses.

Executives from major financial institutions have voiced concerns about the negative impact of this uncertainty on business operations and economic stability. 

Greg says that uncertainty is clear, noting many of those logging on to Ask the Expert are smaller business owners who may not be directly impacted by tariffs but more from the trickle-down effects of a prolonged trade war.

“Nobody really knows yet what those impacts will be,” he says. “The people joining us really want to know more about timing and when things are going to happen. I think some of the concerns are morphing away from talk of annexation and are now touching on the realization that there is something really wrong in the U.S.”

To join an Ask the Expert conversation, visit www.chambercheck.ca (which offers resources and information to help businesses) and sign up. 

For those who can’t participate live, Ask the Expert videos are posted on  www.chambercheck.ca  and the Cambridge Chamber of Commerce YouTube channel. 

Federal aid package info

In response to U.S. tariff impositions that have disrupted trade and heightened economic uncertainty, the Canadian government has introduced a comprehensive aid package exceeding $6 billion to support affected businesses. The key components of this financial assistance include:

1. Trade Impact Program by Export Development Canada (EDC):

With its newly launched Trade Impact Program, EDC is prepared to facilitate an additional $5 billion over two years in support. This program aims to:

• Market Diversification: Assist exporters in identifying and penetrating new international markets, reducing reliance on the U.S. market.

• Risk Mitigation: Provide solutions to manage challenges such as non-payment risks, currency fluctuations, and cash flow constraints.

• Expansion Support: Offer financial backing to overcome barriers hindering business growth and international expansion.

These measures are designed to help companies navigate the economic challenges posed by the tariffs and adapt to the evolving trade environment. 

Government of Canada.

2. Business Development Bank of Canada (BDC) Financing:

To support businesses directly affected by the tariffs, the BDC is providing $500 million in favorably priced loans. Key features include:

• Loan Amounts: Businesses can access loans ranging from $100,000 to $2 million.

• Flexible Terms: Loans come with favorable interest rates and flexible repayment options, including the possibility of deferring principal payments for up to 12 months.

• Advisory Services: Beyond financing, BDC offers advisory services in areas such as financial management and market diversification to strengthen business resilience.

This initiative aims to provide immediate financial relief and support long-term strategic planning for affected businesses. 

3. Farm Credit Canada (FCC) Support for Agriculture and Food Industry:

Recognizing the unique challenges faced by the agriculture and food sectors, the government has allocated $1 billion in new financing through FCC. This support includes:

• Additional Credit Lines: Access to an additional credit line of up to $500,000 for eligible businesses.

• New Term Loans: Provision of new term loans to address specific financial needs arising from the tariffs.

• Payment Deferrals: Current FCC customers have the option to defer principal payments on existing loans for up to 12 months.

These measures are intended to alleviate cash flow challenges, allowing businesses to adjust to the new operating environment and continue supplying high-quality agricultural and food products. 

4. Enhancements to the Employment Insurance (EI) Work-Sharing Program:

To mitigate layoffs and retain skilled workers, the government has introduced temporary flexibilities to the EI Work-Sharing Program:

• Extended Duration: The maximum duration of work-sharing agreements has been extended from 38 weeks to 76 weeks.

• Increased Access: Adjustments have been made to make the program more accessible to businesses experiencing a downturn due to the tariffs.

This program allows employees to work reduced hours while receiving EI benefits, helping employers retain experienced staff and enabling workers to maintain their employment and skills during periods of reduced business activity. 

5. Strengthening Investment Protections:

To safeguard Canadian businesses from potentially harmful foreign takeovers during this period of economic vulnerability, the government has updated the Investment Canada Act Guidelines. While Canada continues to welcome foreign investment, these updates ensure that any investments posing risks to economic security can be thoroughly reviewed and addressed.

Click here to learn more.

The uncertainty surrounding trade policies and the potential for sustained tariffs have already begun to erode business confidence in Ontario. 

A survey conducted in February by the Ontario Chamber of Commerce (OCC) has revealed that more than 80% of businesses believe U.S. tariffs are clearly impacting confidence in Ontario’s economy. 

Coupled with the results of the OCC’s 2025 Ontario Economic Report released last month which revealed that business confidence had risen from a historic low of 13% to only 26% in 2024, Canada’s economy remains in a precarious position in wake of U.S President Donald Trump’s continued tariffs attacks.

“The problem is we have Trump, a 78-year-old man trying to run a country in the same manner as it would have been run in 1968,” says Cambridge Chamber of Commerce President and CEO Greg Durocher. “But that country doesn’t exist anymore.”

He notes Trump’s continued claim that NATFA (North American Free Trade Agreement) resulted in the closure of 90,000 plants and factories in the U.S. is an exaggeration as well as touting that introducing exorbitant tariffs will eliminate the need for income tax.

Many industries at risk

“It’s literally impossible for that to happen,” says Greg, adding revenue from tariffs would equate to about 2% of the U.S. budget. “His whole end game centres on minerals, considering all he talks about is titanium and lithium from Ukraine. There’s no question about it.”

But in the wake of this pursuit, experts agree the impact of sustained tariffs will hit Canada hard.

The manufacturing sector stands at the forefront of potential adverse effects due to its substantial contribution to Ontario's economy and its heavy reliance on U.S. markets.

The automotive industry, a cornerstone of Ontario's manufacturing base, is especially vulnerable. Tariffs could render Canadian auto parts and vehicles less competitive, leading U.S. companies to seek alternative suppliers. This shift threatens to result in decreased production, layoffs, and a contraction within the sector. 

Beyond automotive manufacturing, other industries such as steel and aluminum production are also at risk. 

In retaliation to the U.S. tariffs, the federal government has already announced a $155 billion tariff package targeting various U.S. goods. The first phase included 25% tariffs on $30 billion worth of U.S. imports, confirmed March 4, encompassing products like orange juice, peanut butter, wine, spirits, beer, coffee, appliances, apparel, footwear, motorcycles, cosmetics, and pulp and paper.

An additional list targeting $125 billion worth of U.S. goods is under consideration on products such as electric vehicles, trucks and buses, certain fruits and vegetables, aerospace products, beef, pork, and dairy. 

Businesses ready to adapt

While these countermeasures aim to protect Canadian interests, they also risk escalating trade tensions, potentially leading to a trade war that could further destabilize Ontario's economy.

The results of the OCC tariffs survey reflect these concerns considering 77% of the 600 respondents said they expect U.S. tariffs will negatively impact their business, while slightly fewer (74%) believe that Canadian tariffs will have a negative impact.

However, when it comes to adapting to U.S. tariffs, approximately half (52%) of the respondents remain confident in their businesses ability to do so, something that doesn’t surprise Greg.

“When Canadian entrepreneurs are pushed, they become very structured and organized and say if our only option is to branch out and look elsewhere, then we're prepared to do that,” he says, adding having 52% of business owners prepared to seek other opportunities and avenues is a positive sign. “It just demonstrates that the structure of the businesses in Canada are probably more resilient than they are anywhere else, even compared to businesses in the U.S. They’re not relying on Donald Trump when it comes to changing his mind, they're relying more on themselves.”

Key findings of the OCC tariffs survey

The OCC conducted an online survey from Feb. 7-23 in co-ordination with local Chambers and Boards of Trade

Business confidence

• 60% of respondents do not currently feel confident in Ontario’s economic outlook, with nearly a quarter indicating they are not at all confident (24%).
• 88% of respondents indicated the U.S. tariffs are negatively impacting Ontario’s economy. In fact, 51% said that U.S. tariffs will have a significant negative impact on their confidence in the province’s economy.

 Business impacts of U.S. tariffs

• 77% expect U.S. tariffs on Canadian goods will negatively impact their businesses, while 74% expect Canadian tariffs will also be negative for them.
• 26% are expecting decreases sales/revenue and/or increased costs, while 23% expect increased costs of raw materials.  About 21% expect changes in customer demand because of tariffs.

 Adapting business to U.S. tariffs

• 52% of responding businesses are confident they can adapt with ongoing trade tensions between Canada and the U.S.
• 35% of businesses say they are diversifying their suppliers or considering it while 24% are considering a price increase. Approximately 84% said they are not looking to relocate any part of their business operations due to U.S. tariffs.
• 36% of respondents are anticipating a shift in market focus, while 31% expect innovations in products/services in their industry.
• 48% of respondents would welcome information and guidance, or advocacy when it comes to dealing with U.S. tariffs, while 41% would welcome financial assistance.

Click here to read survey results.

The impact of U.S. President Donald Trump’s 25% tariffs on Canadian imports and Canada’s counter tariffs has significant implications for various sectors of our economy, including tourism, with Ontario poised to experience both direct and indirect effects on this industry.

The Canada-U.S. border has traditionally seen substantial movement of tourists in both directions. However, these escalating trade tensions have led to a surge in nationalistic sentiments, influencing travel decisions.  Reports have indicated that many Canadians plan to boycott travel to the U.S. in response to Trump’s tariffs, opting instead for domestic destinations or alternative international locations, a trend that has not gone unnoticed by tourism experts. 

“We're hearing that 40% of Canadians that had booked a trip to the U.S. have cancelled their plans,” says Explore Waterloo Region CEO Michele Saran, noting travel destinations nationwide are expecting an uptick in tourists this summer. “If I was a Canadian destination that actively pursued the U.S. market, right now I would be pushing the exchange rate really hard.”

Potential side-effects

However, economic downturns typically result in reduced disposable income, which can lead to a decline in domestic tourism as residents may cut back on travel and leisure activities.

Moreover, the weakening of the Canadian dollar is likely to make international travel more expensive for Canadians, potentially reducing outbound tourism. But on the flipside, a weaker Canadian dollar could make Canada a more attractive destination for foreign tourists, as their currencies would have greater purchasing power. 

There are also potential side-effects surrounding the impact heightened political tensions and changes in consumer sentiment that have been created.

“I have been told that Americans are expressing concern about how they'll be treated if they come to Canada right now,” says Michele. “So, they're a little bit reticent about it right now. But from a leisure travel perspective, Waterloo Region has always focused on marketing in Southern Ontario.”

In fact, she says the travel organization is in the process of creating and promoting new packages to encourage visitors to spend more time here once they arrive.

Specific marketing

“We want to provide them with options they can’t find in downtown Toronto,” she says of this new promotional tactic. “We're giving them an itinerary so that they'll be able to create a mental movie of a staycation in Waterloo Region and how they could spend their time here.”

Michele says Explore Waterloo Region is conducting specific marketing targeted at couples, families and groups of friends highlighting the authentic ‘experiences’ that cities located on the edge of nature can offer. 

“We're testing them right now at the target market to make sure we mitigate any risk to make sure that these markets find them compelling,” she says, noting Waterloo Region’s proximity to the GTA will likely prove to be an even bigger advantage this year.  “About 90% of our leisure visitors come from that area. It’s easy to get here and we also have we have both rural and urban, so there's something for everyone when you come to the region.”

Annually, Waterloo Region attracts approximately five million visitors not just for leisure visits, but conferences, meetings, and sporting events, which translates into nearly $560 million for the local economy. 

To learn more, visit Explore Waterloo Region.

Tourism stats:

• Canada is the biggest source of international visitors to the U.S. accounting for for 20.4 million visits in 2024, generating $20.5 billion in spending and supporting 140,000 American jobs. 
• According to the U.S. Travel Association, even 10% less Canadian tourists to the U.S. could mean 14,000 job losses in related industries in that sector and two million less visitors.
• Florida, California, Nevada, New York, and Texas are the top states Canadians visit. Since shopping is a popular activity for Canadian visitors, these states could see steep declines in retail and hospitality revenue.
• Ontario’s Highlands Tourism Organization (OHTO) recently revealed that visitors are increasingly seeking meaningful experiences that allow them to reconnect with friends, family, and nature. This trend is reflected in a noticeable shift in spending patterns; between January and September 2024, visitor spending reached $399 million, marking a 12% increase over the previous year.
• In January 2025, more than $1.4 million was allocated to 10 organizations across southern Ontario federal government. Notable projects include the creation of a looped trail connecting Burlington to the Niagara Escarpment trail network and the Bruce Trail, aimed at augmenting active outdoor visitor experiences. Additionally, enhancements to were announced for the Hydrocut mountain bike trails in the Waterloo Region.

The high cost of living, inflation, housing affordability, and rising operational costs top the lists of concerns for Ontario businesses, according to the Ontario Chamber of Commerce’s (OCC) most recent Ontario Economic Report (OER). 

The report shows a significant rise in business confidence over the course of 2024, climbing from a historic low of 13% to 26% by year’s end. Despite this improvement, confidence remains historically low and fragile, with 48% of businesses expressing a lack of confidence in the economy. Affordability and the cost of living continue to be the most pressing concerns for businesses.

The survey, conducted between October 15 and December 2, 2024, gathered insights from 1,714 respondents representing a diverse range of industries, regions, and organizations.

The results show that when U.S. tariff threats are on the table, business confidence drops dramatically to just 15%, almost erasing the last year’s gains, according to the OCC’s separate tariff survey in early February. This recent research also shows that with tariffs in play, six in ten (60%) business decision makers would lack confidence in Ontario’s economic outlook.

“I may not use the word fragile describing the confidence level and instead use the word tempered,” says Cambridge Chamber of Commerce President and CEO Greg Durocher. “People's optimism for the future of business in the short term is tempered by the impact of Trump’s tariffs. I think most people in business realize that the impact of any decision is probably going to be short term. Whether or not tariffs are long term isn't the issue, it’s the impact of tariffs. So, after a period time, the marketplace settles down and people get used to whatever is the new reality.”

Ontario’s economic outlook varies

Confidence in Ontario’s economic outlook varies significantly across industries, with the information and cultural industries sector reporting the lowest level of optimism at just 17%.  Businesses in this sector cite high operational costs, shifting consumer behaviour, declining advertising revenues, and mounting pressures from technological disruption, global competition, and regulatory challenges as key drivers of their pessimism.

The retail (18%), non-profit (20%), utilities (21%), and accommodation and food services (22%) sectors follow closely, reflecting the impact of declining consumer spending amid heightened cost-of-living pressures.

The agriculture sector, while showing a slight improvement over last year, also remains among the least confident sectors (22%). Concerns in this sector centre on extreme weather events, trade and supply chain barriers, and growing labour gaps and succession planning challenges as a significant portion of the workforce approaches retirement.

By contrast, confidence is strongest in the mining (56%), finance and insurance (40%), and administrative and waste management services (40%) sectors. This could be explained by the strong demand for critical minerals supported by Ontario’s Critical Minerals Strategy, rising sustainability initiatives the finance sector’s ongoing resilience, and growth driven by fintech advancements. These sectors demonstrate adaptability and the ability to capitalize on emerging opportunities.

Survey respondents remain optimistic

Regionally, most of Ontario’s regions outside the GTA saw a significant reduction in confidence compared to the previous year.

Confidence is lowest in Stratford-Bruce Peninsula (19%), Northeast Ontario (21%), and the Greater Ottawa Area (21%), where in addition to concerns surrounding high costs and housing affordability, businesses are disproportionately sensitive to government policies and investments and have suffered more extreme weather events than other regions.

Confidence is highest in the Greater London Area (34%), a significant rebound from last year (9%). This resurgence is likely fueled by strong consumer demand, and domestic manufacturing capacity and supply chains, including the announcement of the Volkswagen EV battery plant in St. Thomas.

Despite the challenges, respondents report relative optimism about their own business growth prospects. Nearly half (49%) express confidence in their own future, citing factors such as strong consumer demand, innovation, and improved inflation management, something that doesn’t surprise Greg.

“I think that you'll find that there's going to be a growth and optimism because many sectors in Canada are going to strengthen as a result,” he says. “We’ve never been the ‘buy Canadian’ kind of a nation and the U.S. has always had buy American programs in place because we’ve always understood we were a player in the global market.”

He says there are initiatives created by the Provincial and Federal governments to encourage Canadian businesses to look at other, more reliable markets, rather than depending on the American market.

European Union agreement key

“Why we perceive the U.S. market to be unreliable right now is because anything that the American government does that impacts the trade with their nation is exponential in our case because 80 per cent of our GDP goes to the United States,” says Greg. “So, we're vulnerable to every whim of the U.S. government. For us to get more reliable sources, we need to diversify so we need to have relationships in the European Union.”

He notes the Canada-European Union Comprehensive Economic and Trade Agreement, which Canada signed in the fall of 2016, has been underutilized. 

“I think it stands to reason that we have not served ourselves well by not really looking seriously at the European Union for economic trade,” says Greg, noting this happened primarily because of our expectation the U.S. would always remain a reliable trading partner.

“We need to understand what the reality of this is going to be going forward and whether we do get aggressive when it comes to find other trading partners.  And if Canadians continue to buy Canadian that will really impact the U.S. exponentially because we do consume a lot of American products.”

Click here to read the report.

Report highlights: 

• Business confidence in Ontario’s economy has doubled in the past year, rising from 13% to 26%, but a majority of respondents (48%) lack confidence in the economy. 
• High costs remain the top concern for businesses, with 78% citing the cost of living, followed by inflation (62%), housing affordability (57%), and rising operational costs (51%).
• Simplifying or reducing business taxes (42%) is the most frequently cited policy solution to improve economic conditions, followed by affordable housing (32%), health system capacity (30%) and workforce development to solve labour shortages (29%).
• While businesses recognize the economic importance of technology adoption, environmental sustainability, diversity and inclusion and Indigenous reconciliation, businesses report a need for support and guidance in seizing these opportunities.
• Businesses report being ill-equipped to support workers and communities through mental health and addictions challenges. For example, while 71% of businesses recognize the importance of mental health and well-being to their success, only 41% have formal mental health strategies.
• Business leaders are confident in their ability to adapt to ongoing trade tensions between the U.S. and Canada with nearly half (48%) reporting confidence, while 32% are neutral and only 15% expressing a lack of confidence. 
• Ontario’s post-pandemic recovery faces significant headwinds, including potential U.S. tariff threats, geopolitical instability, lagging productivity, affordability challenges, and rising unemployment.

While the recent 30-day postponement of U.S. President Donald Trump’s tariffs and Canada’s retaliatory measures came as welcomed news to businesses, the lingering presence of these threats remain prompting the Chamber network to act using a variety of tactics, including advocacy, negotiation, education and promoting partnerships.

Trump’s demand for 25 per cent blanket tariffs on all Canadian goods, with the exception of a 10 per cent tariff on Canadian energy, and Canada’s proposed retaliatory tariffs on $155 billion of U.S. goods, has sent economic shockwaves through both nations prompting calls for action on both sides of the border.

To clearly map out the vital importance of the trading relationship between the two countries and the risks businesses face, the Canadian Chamber of Commerce’s Business Data Lab has introduced the Canada-U.S. Trade Tracker —a new tool designed to illustrate the ties between the two economies. It notes that $3.6 billion in goods crosses the Canada-U.S. border daily, generating a $1.3 trillion annual trade relationship.

"A 30-day delay means more time for Canadian businesses and governments to drive home the point that tariffs make no sense between the two closest allies the world has ever known,” said Candace Laing, President and CEO, Canadian Chamber of Commerce, in a release. “The Canadian Chamber, our network and businesses across the country will spend every day of it fighting hard to secure this historic, robust trading relationship. Raising the cost of living for Americans and Canadians with these taxes is the wrong move. Canada and the U.S. make things together, and we should in fact be building on that.”

Call to dismantle interprovincial trade barriers

It is a sentiment echoed by her colleagues at the Ontario Chamber of Commerce who have rallied their members, which includes the Cambridge Chamber, in a show of unity and strength and targeted actions including supporting a unified call for Canadian premiers to quickly dismantle interprovincial trade barriers and the creation of a business and trade leadership coalition.

Called the Ontario Business & Trade Leadership Coalition (OBTLC), it aims to unit leaders from key trade-dependent sectors to champion business-driven solutions, advocate for effective government policies, and solidify Ontario’s position as a global leader in trade.

“President Trump has claimed the U.S. doesn’t need Canada – but we are here to show just how invaluable we are. Ontario businesses are stepping up to safeguard our economy and reinforce our global competitiveness,” said Daniel Tisch, President and CEO of the Ontario Chamber of Commerce, in a release. “The Ontario Business & Trade Leadership Coalition represents a united response – a coalition of industry leaders committed to resilience, collaboration, and growth.”

BestWR brings business groups together

But the fight to ward off economic turmoil caused by these tariff threats has also been ramped up locally, says Cambridge Chamber of Commerce President and CEO Greg Durocher, through the revival of a unique partnership created during the pandemic to assist businesses.

“We created the Business Economic Support Team of Waterloo Region (BestWR) during COIVD-19 consisting of organizations that are fundamentally engaged in the economic activities through business in the region and have brought it back as a support mechanism for local businesses with respect to trade,” he explains. “It was created during the pandemic, but this is now really about a united force of business organizations helping local businesses navigate these turbulent trade waters.”

Besides the Cambridge and Greater Kitchener Waterloo Chambers, BestWR also includes Waterloo EDC, Communitech and Explore Waterloo Region.

“We are engaged right now with regional municipalities to create opportunities whereby we can offer a support role in helping local businesses find local or Canadian suppliers, or to expose local businesses to the products they currently manufacture or sell and may be able to find Canadian customers for,” says Greg, noting BestWR also has strong federal and provincial connections which they will use to assist businesses.

“We have the insight to be able to tap into key levers within provincial government and within the federal government to have input on what potential supports those governments may need to provide businesses to keep them moving through this turmoil.”

Ask the Expert returns

As a further measure to assist, both the Cambridge and KW Chambers have revived their online tool 'Ask the Expert'.

These weekly Zoom calls - created during the pandemic to provide business leaders with current information – will now provide an opportunity for manufacturers and businesses in the region who export to the U.S. to ask questions.

“We will invite various experts to take part in the one-hour call, and hopefully get some answers to their questions and help them keep their business humming along and doing the things they need to do to support their employees,” says Greg.

'Ask the Expert' will take place every Thursday, between 9-10 a.m.

“This all about businesses,” he says. “And how do we navigate the turbulent challenges ahead and make it a win for Canadian businesses.”

The Chambers have also revamped the chambercheck website (which offered timely resources for businesses during the pandemic) to provide a growing list of trade-related resources to inform and assist businesses.

Reasons for businesses to remain confident and optimistic:

Economic Resilience

Canadian businesses have demonstrated remarkable resilience in the face of past economic challenges. Our diverse economy and strong trade relationships beyond the United States provide a buffer against potential disruptions.

United Response

The Canadian government, provincial leaders, and business organizations like your local Chamber of Commerce are presenting a united front in response to this threat. This co-ordinated approach strengthens our negotiating position and demonstrates our commitment to protecting Canadian interests.

Potential for Internal Growth

For years the Chamber network has been encouraging the government of Canada to remove interprovincial trade barriers and unlock the economic prosperity lying dormant in these archaic policies. This situation presents an opportunity to address long-standing interprovincial trade barriers and by removing them boost Canada's economy by up to $200 billion per year, potentially offsetting the impact of U.S. tariffs.

Mutual Economic Interests

It's important to remember that the proposed tariffs would also significantly harm the U.S. economy. American businesses and consumers would face higher costs and reduced competitiveness, which could lead to pressure on the U.S. administration to reconsider this approach. 

Time for Preparation

With the proposed tariffs not set to take effect until at least March 1, there is time for diplomatic efforts and for businesses to prepare contingency plans as we work our business contacts and channels to influence key stakeholders in the U.S.

Leveraging Canadian Assets

Canada continues to highlight its valuable assets that are strategically important to the U.S., including:

• Energy resources
• Critical minerals
• Nuclear power capabilities
• AI research excellence
• Lumber and building materials
• Automotive
• Agriculture

By emphasizing these assets, Canada is demonstrating that doing business with us is not just beneficial but strategically smarter than alternatives.

Government Support

The Canadian government has a track record of supporting businesses during trade disputes. We can expect measures to be put in place to assist affected industries if the tariffs are implemented.

The following column by Cambridge Chamber President and CEO Greg Durocher appears in the winter edition of our INSIGHT Magazine

There’s a chance we might be panicking over nothing after Donald Trump was again elected this past fall as President of the United States, defying political norms in a way few others have.

Despite being a convicted felon—yes, by a jury of his peers, not a partisan judge—Trump secured his return to the highest office in the land, with a staggering 34 convictions under his belt. His campaign rhetoric was, as always, polarizing and often crossed the line of decency. 

Politics has clearly changed since there was a time when even a fraction of Trump's controversies would have ended a political career. Yet here we are. Some Canadians celebrated his victory, but it perplexes me why anyone north of the border would since he has demonstrated little regard for Canada, dismissing us as an afterthought despite our deep economic ties.

The truth is America’s prosperity is intrinsically linked to our resources and partnership.

Canada: An Indispensable Ally

Consider this: 60% of the crude oil the U.S. consumes comes from Canada. Saskatchewan supplies uranium, which is essential for energy production and national security, and potash essential for the agriculture industry. Quebec powers the northeastern United States with hydroelectricity. Alberta’s natural gas and Canada’s aluminum and steel exports are cornerstones of U.S. infrastructure.

But what would happen if we turned off the taps? A trade war would hurt us both, but Canada’s contribution to the U.S. economy is undeniable. Trump’s focus should be on challenges like China and Russia, not antagonizing U.S. allies.

Revisiting NAFTA and Trade Tactics

However, his threats are nothing new since we’ve seen this playbook before. In 2016, Trump declared NAFTA (North American Free Trade Agreement) dead, demanding a "fair deal." After much posturing, the agreement was merely updated—something long overdue. Trump called it a victory, and his supporters cheered him on, but the changes were only modest at best.

Similarly, his famous promise to build a wall funded by Mexico resulted in just 732 km of construction—most of which replaced existing barriers. Mexico, of course, didn’t pay a dime and some of the "new" wall even deteriorated quickly, bogged down by allegations of corruption among Trump’s staff.

The Reality of Trump’s First Term

Let’s be honest—Trump’s first term was marked by unfulfilled promises and many controversies. His pandemic response was completely disastrous, with state governors openly criticizing his lack of leadership. Who could forget his infamous suggestion to inject bleach as a COVID-19 treatment? Why would a person even suggest that? Trump signed agreements that drove up gas prices, contributing to inflation.

Running a country is vastly different from running a private business, and Trump’s approach often revealed his lack of governance expertise.

What’s Next?

His 25% tariff plan threat on Canadian goods are likely bluster—an opening gambit to pressure Canada and Mexico into renegotiating trade agreements. It really is a strategy very reminiscent of his NAFTA theatrics.

In the end, we’ll likely see a slightly revised deal that Trump will tout as another one of his "wins." Of course, his base will applaud, despite little substantial change.

Canada’s Challenge

For Canadians, Trump’s presidency is very concerning since his leadership style— always chaotic and self-serving—offers no real benefit to Canada. Therefore, we must brace ourselves for uncertainty and prepare to protect our interests.

Meanwhile, south of the border, Americans will face the consequences of his polarizing and often ineffective leadership.

In the end, Trump’s bravado may have won temporary support from his base, but we must remember it’s critical to separate rhetoric from results. As the old saying goes, “Be careful what you wish for—you just might get it.”

The strength of the Chamber network when it comes to advocating for the business community was very apparent recently as representatives from Chambers of Commerce and Boards of Trade nationwide recently gathered in Halifax to debate and approve policies aimed at boosting Canada’s economy.

Several hundred delegates gathered Oct. 16-19 at the Canadian Chamber of Commerce’s CCEC Conference and AGM to network, hear from several high-profile business and industry leaders, but more importantly debate policies that can make a difference at a time when Canada’s productivity is suffering to the point where we rank the lowest among the G20 countries, and small businesses continue to face hardships.

“I do think regulation is one of the biggest challenges facing Canadian productivity,” said Shaena Furlong, President & CEO of the Richmond Chamber of Commerce in B.C, while speaking as part of a panel discussion on the outlook for small business. “I think generally in Canada, and this is across all regions, we have problem in that the folks who are imposing regulations on business have only ever signed the back of a pay cheque and there is a sentiment that business and industry are a bottomless well and it’s not just true.”

Delegates were told by Isabelle Hudon, President and CEO of BDC, there are now 100,000 fewer entrepreneurs in Canada than there were 10 years ago, an issue touched on by outgoing Canadian Chamber President and CEO Perrin Beatty during a special tribute to his 17 years as head of the organization. 

Network provides a strong voice

“Capital is fluid, and you are not going to know when an investor chooses not to stay in Canada or not to invest in Canada,” he said. “We need to increase our ease in doing business.”

However, Perrin credited the work of the Chamber network and its advocacy efforts to create a better climate for businesses. 

“Businesses have never more greatly needed a strong, effective and organized voice,” he said. “I’m confident the Chamber can make an even greater contribution to Canada in the future. You are the ones who will carry out that mission. It will be your imagination and your commitment, your energy and your collaboration that will create a brighter future for our country.”

This sentiment is shared by Cambridge Chamber of Commerce President & CEO Greg Durocher who says a key role of Chambers is to develop policies that can lead to fundamental changes in legislation to create environments where businesses can thrive and in turn, communities can prosper. Greg attended the AGM, along with Board Chair Murray Smith and the Chamber’s policy writer Brian Rodnick.

“The policies approved by delegates at the Canadian Chamber AGM and Ontario Chamber AGM provide the tools needed to urge both the provincial and federal levels of governments to make decisions that can assist our economy,” he says. “The Chamber network from coast-to-coast provides a strong voice for businesses.”

At this year’s Canadian Chamber AGM, just over 40 of the policy resolutions presented by Chambers and Boards of Trade nationwide, were approved by nearly 300 voting delegates.

The policies – which now become part of the Canadian Chamber of Commerce’s ‘official playbook’ - touched on the following areas: taxation and finance; labour, skills, and immigration; transportation and infrastructure; agriculture; health; manufacturing; and international affairs.

A policy submitted by the Cambridge Chamber and four others co-sponsored by the Chamber received overwhelming support:

Calling for a comprehensive, independent review to simplify Canada’s tax code

Delegates supported a call to reform Canada’s tax system by establishing an independent, comprehensive review of the tax system ensuring its terms of reference focus on simplification and modernization, identifying potential changes to encourage more economic prosperity for Canadians.

​Implementing a Canada Trade Infrastructure Plan (CTIP) (co-sponsored)

The Chamber network supported a move to have the Federal Government implement, in cooperation with the national business sector and Provinces-Territories, a Canada Trade Infrastructure Plan to guide future planning and construction activities. The hope is to help grow the economy nationwide and ensure that all trade corridors have the capacity to move Canadian goods and service as markets expand.

​Increasing capacity across Canadian manufacturing (co-sponsored)

Delegates supported a call for the Federal Government to implement a 10% refundable manufacturing investment tax credit for all operations nationwide, like the current Atlantic Investment Tax Credit. 

​Addressing the affordability crisis by getting back to fiscal balance & right sizing (co-sponsored)

The Chamber networked supported a series of recommendations to bolster the economic wellbeing of the private sector, including working toward bringing down the level of debt, reviewing government expenditures, if necessary, via a Royal Commission, mandated reviews across all ministries and departments that re-examine government services and the implementation of a cash pooling arrangement within and between all departments and ministries.

​Improvements to the Artificial Intelligence and Data Act (co-sponsored)

The delegates approved a series of recommendations calling for more public consultation when the legislation gets rolled out and assurance that regulations imposed on the industry allow it to remain competitive with other countries including our major trading partners. Also, the policy called for the Federal Government to separate AIDA from Bill C-27 to ensure that it receives due attention and is not held back by other controversial legislation as well as clarifying what makes an AI system ‘high impact’ to better enforce the regulations. 

The federal Liberals 2024 budget landed last week to mixed reviews, especially among Chamber of Commerce leaders.

While Deputy Prime Minister Finance Minister Chrystia Freeland kept her promise to keep the deficit from growing without raising income taxes on the middle class by tabling Budget 2024: Fairness for Every Generation with a projected deficit of $39.8 billion, slightly below the $40 billion projected last fall, the document contained few surprises.

“Most of the major new spending was announced by the government over the last few weeks, and the government’s projections for the deficit are largely in line with previous predictions. Instead of using a revenue windfall to reduce the deficit more quickly, the government chose to use it along with changes to the capital gains tax, to fund this new spending,” said Perrin Beatty, President and CEO, Canadian Chamber of Commerce, in a release. “What’s still missing is a clear plan to promote productivity and restore economic growth in Canada. Canada continues to slip further behind our competitors in both of these categories.”

This sentiment is shared by Cambridge Chamber of Commerce President and CEO Greg Durocher, who says business operators regularly share their frustrations with him regarding the difficulties they continue to face trying to conduct business.

“Their concerns do not seem to reach the ears of the those who make the decisions,” he says. “The reality of it is the framework around how this current federal government wants to address the issues of the day are not conducive to solving the problem but probably more conducive to deepening the problem.”

Housing affordability crisis

Among these issues is the housing affordability crisis, which the budget addresses by putting special emphasis on generational fairness and helping younger people – Millennials and Generation Zs — with programs to help renters and first-time home buyers. While this may bring some relief, Greg says there are other ways to address the issue in a less costly manner.

“There is no secret to building more homes. You must create a market for home builders to access and ensure interest rates are acceptable for homeowners to borrow money and you must simply reduce the costs to developers in building the product we desperately need. None of these issues have ever been addressed by any level of government to this point,” he says, adding despite any incentive programs local political bureaucracies often create barriers for development. “You can throw all kinds of mud up against the wall, but none of it is going to stick when it’s already dry.”

Besides housing, the Ontario Chamber of Commerce says the budget should have addressed the need to build better resiliency surrounding supply chains by providing targeted financial support for small and medium-sized businesses. It has recommended the federal government work with the private sector to invest in digitization infrastructure and explore contingency plans for key trading partners and assess potential vulnerabilities.

“I think those are just sensible things our federal government should always be doing to ensure the flow of goods and services can happen because every issue that all levels of government deal with requires a strong, vibrant economy in order to find solutions to those problems,” says Greg. “Building a more resilient supply chain shouldn’t even part of a budget, it should be a core element of the government’s role.”

Despite these concerns, both he and Beatty both welcomed the budget’s move to support interprovincial trade through the creation of the Canadian Internal Trade Data and Information Hub, something the Chamber network has been seeking for several years.

“Strengthening our internal trade could elevate GDP growth by up to 8% and fortify Canada’s economic foundation,” said Beatty in a release. “It shouldn’t be easier to trade with Europe than it is within our own country.”

Economic survival imperative

Besides interprovincial trade, the budget’s promised investment of $2.4 billion towards building AI infrastructure and adoption advancement also came as welcomed news.

“The investment in AI infrastructure and support of start-ups in the AI field is good for business,” says Greg, adding he was disappointed the budget didn’t contain more regarding the co-ordination of broadband investments with the private sector. “The government has done nothing to extend broadband coverage to remote and rural communities and the fact of the matter is if you don’t have internet, you can’t do business. You can’t function without the most advanced technology.”

Overall, he says the 2024 federal budget sends a clear signal the current government is forgoing economic survival in favour of more social programming, a move that doesn’t bode well for conducting business in Canada.

“While I support taking care of those who can’t care for themselves, and every business I know supports initiatives to help others, we also have to recognize the No. 1 objective of any level of government is to ensure a strong and vibrant economy,” he says. “There are very little initiatives in this budget signalling that Canada wants to develop a robust economy.”

Click here to read the budget.

Several measures announced in the federal budget to assist Ontario’s business community. These include:

• Addressing the housing affordability crisis by investing in building more homes, making it easier to own or rent, and creating new programs to supply low-income affordable housing for those who need it most. The government is proposing a combination of tax measures, low-cost financing and loans, utilization of public lands, streamlined approvals, and programs to assist homebuyers and renters directly.
• Building AI infrastructure and advancing adoption through a $2.4 billion investment. A significant portion of this investment is dedicated to building and providing access to computing infrastructure. An additional $200 million is allocated to support AI start-ups to bring new technologies to the market and accelerate adoption in critical economic sectors.
• Advancing economic reconciliation through a national Indigenous Loan Guarantee Program and funding for Indigenous Financial Institutions that will accelerate capital for Indigenous-owned businesses and projects, support project development, reduce the cost of borrowing, and enable Indigenous communities to benefit from natural resource projects.
• Supporting interprovincial trade through the creation of the Canadian Internal Trade Data and Information Hub, intended to enable all levels of government to work together to eliminate barriers to trade and labour mobility.

The Ontario Chamber network is calling for further action in the following areas:

• Co-ordinating broadband investments with the private sector to avoid duplication and maximize the impact of public programs to enhance redundancy resiliency within broadband networks, collaborating with provinces and territories to establish future federal goals for broadband connectivity, assess opportunities for promoting competition and private sector investments in the sector, and expedite funding commitments while improving coordination with stakeholders to address gaps in private sector expansion plans.
• Bolstering Canada’s life sciences ecosystem by creating new funding streams to encourage innovation and high-risk ventures, working with stakeholders to review approval processes, and enhancing regional collaboration.
• Building more resilient supply chains through targeted financial support for small and medium-sized enterprises, working with the private sector to invest in digitization infrastructure, expanding capacity across all modes and channels of distribution, exploring contingency plans for key trading partners, and conducting an assessment to identify bottlenecks and vulnerabilities.
• Implementing broader Employment Insurance reform to reflect the needs of today’s workforce by ensuring the governance, programs, policies, and operations are viable and sustainable, responsive, and adaptable, non-partisan, inclusive, and relevant for current and future generations of Canadian employers and employees.