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Despite progress in gender equality and growing awareness of women’s contributions to the economy, women continue to be underrepresented in entrepreneurship in Canada.

Sadly, this comes at a time when entrepreneurship itself - always a driving force for innovation, job creation and economic growth - is also declining and continues to suffer post-pandemic. In fact, BDC (Business Development Bank of Canada) has noted half as many people are opening businesses now compared with 20 years ago.

The impact of these issues is explored in a recent Canadian Chamber of Commerce report entitled Women Entrepreneurs: Canada’s Biggest Missed Business Opportunity, a follow up to a report the national business organization’s Business Data Lab released last year entitled Barely Breaking Ground: The Slow Stride of Progress for Women in Business Leadership and Entrepreneurship.

Both reports outline the ‘glacial’ progress of women-owned ventures, despite years of investment.

“I don’t think it’s something that can be resolved by one party or one piece of the ecosystem,” says Marwa Abdou, Senior Research Director at the Canadian Chamber of Commerce, who authored the Women Entrepreneurs report. “I think it needs an all-hands-on deck approach.”

Among its many surprising findings, this latest report found that women-owned businesses have not accounted for more than 20% of all enterprises since 2005 and that approximately 710,000 majority women-owned businesses are ‘missing’ (meaning people who could be involved in entrepreneurship but are not). Also, nearly two-thirds of these ‘missing’ women-owned businesses in Canada are in Ontario and Quebec.

Limited access to capital

One of the most significant barriers for women entrepreneurs in Canada remains limited access to capital. Studies consistently show that women are less likely to receive funding from investors and banks. This can be due to several reasons, including unconscious bias in lending practices, lack of networks connecting women to investors, and fewer women in investment decision-making roles.

“They deal with, comparatively and relatively speaking, more barriers to entry, particularly in a male dominated sector. They have less access to funding and are mentored less and have less training,” says Marwa. “All of that is also mirrored in their trajectory in the business landscape. When you then add on top of it an entrepreneurship environment where it is much more difficult and much riskier to be an entrepreneur, generally that means that the very barriers that women have faced for decades have now become exponentially worse.”

Successful entrepreneurship often relies on access to networks, mentors, and business communities. Unfortunately, women are underrepresented in these areas. Networking events, accelerator programs, and industry associations may not always feel welcoming or inclusive to women, especially those from racialized or Indigenous backgrounds.

Lack of mentors

Marwa notes in a recent podcast she hosts called Canada’s Economy Explained, her guest Isabelle Hudon, President and CEO of the Business Development Bank of Canada (BDC), discussed the economic gap of fewer women entrepreneurs and the pieces surrounding this issue.

“One of the things that she (Isabelle) talks about is even something as simple as when you think about women coming in and bringing in an entrepreneurial idea; they're coming into a boardroom full of white men who are somewhere in the middle, or not engaged,” says Marwa. “They're not going to see things from their perspective. They're not connected to the markets that they're connected to. They don't have the same lens on these issues.”

Without mentors who understand the unique challenges faced by women entrepreneurs, it can be difficult to navigate business growth, funding, and leadership development. The lack of visible female role models in certain industries also contributes to fewer women pursuing entrepreneurship in those fields.

Policies can be cumbersome

Marwa says the need for having advocates and champions in the room for these women entrepreneurs is crucial to access the capital pieces needed, explaining current policies and funding opportunities have not made it easy. She refers to the $2 billion Women Entrepreneurship Strategy (WES) announced by the Government of Canada in 2018 to advance women entrepreneurship.

“We haven't really gotten traction on the things that have really held women back,” she says, adding current polices have made it cumbersome for them to get the loans they need or decipher which start-up incubators or accelerators they can tap into. “We have a lot of programs, and we have a lot of funding that we've made available for women entrepreneurs, but we haven't thought about the practicalities of what it's like from their perspective to navigate that landscape.”

Click here to read the report.

Findings from Women Entrepreneurs: Canada’s Biggest Missed Business Opportunity:

• Roughly 710,000 majority women-owned businesses are “missing” (i.e., “people... who are not involved in entrepreneurship, but who could be” (OECD 2023).
• Women-owned businesses have not accounted for more than 20% of all enterprises since 2005 and stand at approximately 18% in 2024, behind of the federal Women Entrepreneurship Strategy’s goal to double the number of women- owned businesses by 2025.
• Women remain underrepresented in high-growth industries such as construction, mining, and tech, where they own fewer than 10% of businesses.
• Almost two-thirds of Canada’s “missing women-owned businesses” are in Ontario and Quebec. The gender gap is highest in the Prairies, Prince Edward Island, and New Brunswick.

Why there is a lack of women entrepreneurs in Canada

Access to Capital and Funding

Studies show that women receive less venture capital and are less likely to secure business loans compared to their male counterparts.

Gender Bias and Stereotypes

Women often face skepticism about their abilities, particularly in male-dominated industries like technology or construction. Stereotypes about women being risk-averse or less committed to business pursuits can undermine their credibility.

Limited Networks and Mentorship Opportunities

Many networking environments remain male-dominated, which can be intimidating or unwelcoming for women. Additionally, a lack of female mentors in leadership roles means aspiring women entrepreneurs may struggle to find guidance from someone with shared experiences and challenges.

Balancing Family Responsibilities

Women are still more likely than men to bear the primary responsibility for childcare and household duties. This unequal distribution of domestic responsibilities can limit the time, flexibility, and energy women must devote to entrepreneurial ventures.

Confidence and Risk-Taking

While women are just as capable as men, studies suggest that women may be less likely to pursue entrepreneurship due to lower self-confidence or a greater perception of risk. This often reflects societal conditioning that encourages men to take bold steps while urging women to play it safe.

Lack of Representation and Role Models

There are relatively few high-profile female entrepreneurs in Canada. This lack of visible role models can lead to a perception that entrepreneurship is a “man’s world,” discouraging some women from pursuing that path.

Structural and Institutional Barriers

Finally, institutional policies and practices can inadvertently disadvantage women. Similarly, economic development policies may focus on sectors where women are underrepresented, such as tech or manufacturing, rather than supporting diverse entrepreneurial pathways.

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 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.

It has been nearly two decades since a rudimentary prototype of Twitter began to take shape in 2006 and quickly gained traction resulting in more than 100 million users producing 340 million tweets daily by 2012. 

Seen initially as a great tool for businesses to promote their brands and messaging, the platform has undergone dramatic changes since billionaire Elon Musk’s takeover of X (formerly Twitter) in late 2022, and that has left businesses and advertisers re-evaluating their presence. 

His vision for X as a “free speech” platform has been polarizing, with critics pointing to the rise in hate speech and misinformation. These concerns, coupled with strategic missteps, have led some businesses to leave the platform entirely or significantly reduce their advertising spend.

“None of the businesses I work with are using X right now because it just doesn't seem like a credible platform and they don't want to be associated with that right now,” says social media expert Ashley Gould, owner of Cinis Marketing.

“I think the premise of what Elon Musk was trying to do originally by opening it up with a huge emphasis on freedom of speech was meant to try and make it a safe space for everybody. The problem is we all don't share the same opinions and we don't share the same beliefs.”

Advertisers’ confidence eroded

As a result, she says those who thrive on hate mongering and perpetuating conspiracy theories have clearly found a home on X thanks to Musk’s decision to overhaul content moderation policies. A similar move also recently embraced by Meta CEO and founder Mark Zuckerburg for Facebook and Instagram.

Under previous management, Twitter (X) maintained strict guidelines to ensure a safer environment for users and advertisers. However, Musk’s looser approach has made some companies wary of associating their brands with potentially controversial or harmful content.

The New York-based Anti-Defamation League and other watchdog groups have reported spikes in hate speech and abusive language on the platform which has further eroded advertiser confidence.

Additionally, changes to the verification system—transitioning from a badge earned through authenticity to one purchased through Twitter Blue subscriptions—have muddied the waters for users and advertisers alike. The proliferation of impersonation accounts and disinformation has made it challenging for brands to trust the platform as a reliable advertising space. 

Despite these challenges, X retains some unique advantages thanks to its real-time, text-focused format which remains unmatched for breaking news and direct communication. As a result, Ashley urges businesses not to delete their X accounts just yet.

Re-evaluate social media platforms

“But I wouldn't utilize it either because it actually could decrease your credibility if you're on there because people may make the assumption that you're ‘enjoying’ the drama.”

Instead, Ashely recommends re-evaluating your focus on social media platforms that would work better to promote your business’ brand, such as Instagram, Threads, Snapchat or Bluesky, even if your X (Twitter) account still retains thousands of followers.

“The ethical people that you’re looking to communicate with aren’t all on Twitter right now,” she says. “Even if they say they are and they’re still a follower, they’re not really there.”

Competitors of X, like Instagram, TikTok, and LinkedIn, have taken this opportunity to attract disillusioned businesses. These platforms offer more sophisticated targeting tools, robust safety features, and higher engagement rates, making them attractive alternatives for advertisers.

Meta’s Threads, a text-based platform launched in mid-2023, quickly gained traction as a ‘Twitter alternative’, luring away both individual users and businesses looking for a less volatile environment. As well, Bluesky introduced a suite of anti-toxicity features this past summer to combat harassment and provide a more ‘user friendly’ experience. 

Multiple platforms not necessary

“It’s good to go with social media platforms that verify and are trying to keep the spam out,” says Ashely, adding it may not be necessary to be on multiple platforms depending on how you’re trying to promote your brand.

“You have got to step back and ask yourself what kind of content are you creating? Who are we trying to make it for? And then really focus on that community side, not that you have 50,000 followers. That’s great, but if nobody's talking to you where's the ROI?”

As X continues to evolve, the long-term viability of its business model remains in question as Musk mulls over potential plans, such as integrating payment systems and expanding into content creation. However, the platform’s reputation as a stable and trustworthy space for businesses has been significantly tarnished.

For now, the exodus of advertisers serves as a cautionary tale about the delicate balance between free expression and the need for moderation in digital spaces.

“They broke it (X) in two years, maybe they can fix it two years?” jokes Ashely. “Unfortunately, my crystal ball is broken, so I can't see if that's actually going to happen.”

Tips for Businesses When Selecting Social Media Platforms:

1. Understand Your Target Audience

Before diving into any platform, research your audience's demographics, interests, and online habits. Platforms like TikTok appeal to younger users, while Facebook often caters to an older demographic. LinkedIn is ideal for B2B professionals, while Instagram attracts visual-centric audiences. The more aligned the platform is with your audience, the more effective your efforts will be.

2. Define Your Goals

Are you looking to drive website traffic, increase brand awareness, generate leads, or build a community? For example, Instagram and Pinterest are great for showcasing products, while Twitter excels in real-time engagement. Matching your goals with platform strengths ensures better ROI.

3. Consider Content Formats

Different platforms excel in specific content types. Instagram and TikTok thrive on short, engaging video content, while LinkedIn favors professional articles and thought leadership. If you lack resources for creating high-quality videos, focusing on text-based platforms like Twitter or LinkedIn might be more manageable.

4. Assess Your Industry Presence

Analyze where your competitors and industry leaders are most active. While you shouldn’t copy them outright, understanding their strategies can help you identify relevant platforms and trends. A strong presence in the right niche can give your business a competitive edge.

5. Evaluate Platform Features and Costs

Some platforms may require higher advertising budgets to be effective, while others offer organic reach opportunities. Look into ad pricing, analytics tools, and features like shopping integrations to determine if a platform aligns with your budget and business model.

6. Start Small and Scale

It’s better to focus on one or two platforms and excel rather than spreading resources thin. Once you’ve established a strong presence, expand to other platforms that align with your strategy.

7. Monitor and Adapt

Social media trends evolve quickly. Regularly analyze performance metrics, keep an eye on emerging platforms, and adapt your strategy as needed to stay ahead.

As 2025 kicks off businesses must adjust to an economic landscape shaped by technological advancements, inflation, shifting consumer expectations, and global challenges. 

Therefore, preparing a business for the future requires strategic foresight, innovation, and a commitment to meeting emerging demands, something Peter Wright, President of The Planning Group, is very familiar.

“In my view, businesses this year should be focused much more on margins and pricing gains,” he says. “If they haven't already made big pricing gains post COVID, they should be saying where can we increase prices?”

Peter says whether the business is B2B or B2C, operators should be pondering how they can increase that component of profitability. 

“Most of the focus for a lot of businesses should be on trying to make those gains at the margin level partly through pricing, but partly through reducing the cost of goods rather than trying to make a bunch of cost cutting exercises in overheads because a lot of businesses have done that,” he says, noting the urge to reduce staffing costs is often very tempting. “They might say, ‘We’ve got this open position, so let’s just not hire someone for it’. But that position could be the thing that’s actually tied to an incredible value proposition the business is trying to achieve.”

Cutting staff can hurt business

Reducing staff can also lead to increased workloads for remaining employees, causing stress and burnout. Often, when employees feel overburdened and undervalued, their productivity declines, and engagement wanes.

Also, customer expectations are set to rise in 2025, with consumers demanding faster service, personalized interactions, and consistent quality and cutting staff can often compromise a company's ability to meet these demands. Longer response times, lower service quality, and limited innovation can erode customer loyalty, driving them to competitors.

As well, cutting back on staffing and spending often leads to a reduction in resources allocated to research and development (R&D) and other innovation-focused initiatives. Without investment in new ideas and technologies, companies risk falling behind competitors who are better equipped to adapt to changing market conditions.

Peter refers to the philosophy of author and business guru Tom Peters, and his book The Circle of Innovation: You Can’t Shrink Your Way to Greatness. “You can’t cut and cut and become a great enterprise,” he says.

Avoid being opportunistic

“I think for all businesses, not just small businesses, should be saying how can we differentiate? How can we set ourselves apart and how can we then not turn around and sell that?” says Peter, adding having everybody in the organization develop a strong a belief in the value of what it is they are selling is key to making that a reality.

He warns businesses not to be too opportunistic when it comes to mapping out their growth plans for 2025 and beyond.

“To me, the big misstep is being opportunistic and not actually clearly articulating where you're going to get your growth from,” says Peter, adding that ‘chasing rabbits’ - coining a phrase from an old Russian proverb – will not be good for business. “It goes, ‘If you chase two rabbits, you will not catch either one’; it teaches us that trying to achieve two things at once will be unfruitful.”

Strategies to ensure your business remains competitive and aligned with the needs of 2025:

1. Embrace Digital Transformation

Companies should invest in cutting-edge technologies such as artificial intelligence, machine learning, and automation to optimize operations, improve customer experiences, and streamline workflows. Additionally, businesses must adopt cloud computing to enhance scalability and flexibility, ensuring they can quickly adapt to market changes.

2. Focus on Sustainability

Businesses should adopt eco-friendly practices, such as reducing carbon footprints, sourcing sustainable materials, and implementing circular economy models. Transparency in environmental, social, and governance (ESG) efforts will not only improve brand reputation but also ensure compliance with stricter regulations expected in the coming years.

3. Leverage Data-Driven Decision Making

Companies must invest in analytics tools to gain actionable insights into customer preferences, market trends, and operational inefficiencies. By using predictive analytics, businesses can anticipate customer needs and stay ahead of competitors. Data privacy and security should also be top priorities to build trust with customers and comply with stringent data protection laws.

4. Prioritize Employee Development

Businesses should prioritize reskilling and upskilling their employees to keep pace with technological advancements and market demands. Offering flexible work arrangements, fostering inclusivity, and creating a supportive workplace culture will also help attract and retain top talent in 2025.

5. Enhance Customer-Centricity

Businesses should leverage omnichannel strategies to provide seamless and personalized customer experiences across digital and physical touchpoints. Incorporating AI-driven chatbots and virtual assistants can enhance customer support, while loyalty programs can help retain existing customers.

6. Adapt to Global and Local Trends

Companies must stay informed about global market trends while tailoring their offerings to meet the unique needs of local consumers. Geopolitical shifts, supply chain disruptions, and economic volatility also require businesses to maintain agility and resilience.

7. Foster Innovation and Agility

Encouraging creativity, experimenting with new ideas, and learning from failures are essential for staying relevant. Additionally, adopting agile methodologies can help organizations respond swiftly to changes in the market and customer demands.

The holiday season is an important time to boost the bottom line for retail businesses.

But just how much consumers are spending this year is hard to pin down, says Brad Davis, a retired Associate Professor at Wilfrid Laurier University’s Lazaridis School of Business and Economics, who specializes in consumer behaviour and trends.

According to the Retail Council of Canada (RCC) and Leger, this year average holiday spending was expected to be around $972, which is up $74 or eight per cent from the 2023 holiday season. Meanwhile, PwC Canada says Canadian consumers were planning to spend an average of $1,853 on gifts, travel, and entertainment this holiday season, a 13% increase over last year.

Shoppers, it seems, are adopting more strategic behaviours when it comes to gift giving. With inflation still impacting prices, an Angus Reid Group study indicates that 71% of Canadians are budgeting carefully, seeking promotions, and comparing options extensively.

Black Friday and Cyber Week have remained key shopping periods, with many delaying purchases to capitalize on discounts.

“The last few years I've taught I've been kind of really disparaging about spending surveys and I think you see so many of them where the results say one thing and then the actual behaviour is totally different,” says Brad. “I think we've created this environment where there's kind of a disconnect between immediate gratification of purchase and then the actual feeling of having spent money you don't see until the credit card bill arrives.”

That same Angus Reid Group survey, conducted from Oct. 15-21 from among approximately 1,500 Canadians 18 and older, also indicates at least 46% of holiday shoppers were planning to spend less this year. 

Sustainability and quality key factors

Sustainability and quality are also playing a significant role in purchasing decisions this year. Shoppers increasingly prefer high-quality, longer-lasting items and even second-hand products. For retailers, offering compelling loyalty programs and promoting ethical practices could further attract this value-driven demographic.​

Brad says while the holiday shopping season is an important time for many businesses, planning for the long term has also become a priority.

“You’ve got the sales now and the cash flow, but there is so much stuff going on with artificial intelligence and the relationship between online and bricks and mortar stores,” he says. “There’s that balance between being very reactive to what’s happening now and not compromising what you’re going to have to do for that long-term adjustment to current changes. I think many are still dealing with kind of a post-COVID restructuring.”

According to the Angus Reid Group, 26% of Canadians were planning to do most of their holiday shopping in-store this year, while 34% will do the majority online. With half (48%) of small businesses finding it harder to compete with the rise of online giants.

Survey results show Ontarians are leading nationwide in online shopping, with 41% of their holiday budget spent digitally, balancing this with the tactile experience of in-store shopping​, something Brad says is hard to define for many retailers.

“Every retail space has presumably different consumer experience expectations,” he says, adding the term ‘customer experience’ is the mantra retail experts often tout. “But when you have so much traditional retail stuff or a customer experience which is designed to create that kind of more spontaneous or in-store decision making, how do you balance that with online?”

By focusing on value, engaging promotions, and omnichannel excellence, experts say Ontario retailers and businesses should be maximizing their potential this holiday season.

Some key spending drivers this holiday season:

Consumer spending growth: Rising disposable incomes, particularly among millennials and Gen Z, are fueling higher expenditure on gifts, travel, and entertainment​.

Preference for online shopping: Retailers with robust digital platforms and promotions, especially during key events like Black Friday and Cyber Week, are poised for success​.

In-store experience matters: While online shopping grows, 62% of Canadians still value the tactile experience of in-store shopping. For Ontario retailers, curating an engaging, festive in-store atmosphere could capture the attention of consumers seeking the traditional holiday shopping experience​.

Strategic shopping and sustainability: Items like clothing, home essentials, and gift cards dominate wish lists. Retailers offering eco-friendly options or emphasizing value-driven strategies are likely to resonate with shoppers​.

Impact of promotions and loyalty programs: Businesses offering early deals, compelling promotions, and customer-centric loyalty programs will stand out during this competitive season​.

Challenges facing Ontario businesses:

Economic uncertainty: While economic indicators are improving, the lingering effects of inflation mean that consumers remain cautious. Retailers need to balance pricing strategies carefully to attract budget-conscious shoppers without eroding profit margins​.

Supply chain and inventory management: Ensuring adequate inventory while avoiding overstock is critical. Supply chain disruptions seen in previous years underline the importance of proactive planning​.

Diverse consumer preferences: Businesses must cater to a broad range of consumer priorities, from those seeking traditional gifts to those favoring experiences or sustainable options. Flexibility and adaptability will be key​.

The holiday shopping season is a bustling time for many businesses, but it also attracts increased criminal activity.

With higher foot traffic, extended hours, and valuable inventory on display, businesses can become prime targets for theft, fraud, and other crimes.

“It really is going to depend on the type of what business you have,” says Const. Chris Iden, Public Information Officer with the Waterloo Regional Police Service, explaining that putting promotional material or displays at the front of the business often limits visibility inside the store. “Business operators should make sure things are well visible from the outside since a criminal ultimately doesn’t want to be seen when they’re doing their act.”

Also, he says having security cameras is a plus for businesses, noting feasibility is often a big issue especially for smaller ones.

“If people are going to invest in a camera system, which I heavily encourage, just be aware that it’s not always a deterrent. But it does assist in the investigation quite heavily,” says Const. Iden, adding it’s become common for some businesses to be targeted multiple times by thieves. “What’s important is to make sure that you’re not setting yourself up again and you learn how a crime can be prevented from happening again.”

Break and enters a focal point

He recommends communicating with staff when it comes to strengthening your security measures, especially this time of year.

“Your staff is normally the eyes and ears of your business,” says Const. Iden. “They see what is happening.”

In terms of local crime overall, Const. Iden says a key focal point for WRPS is break and enters as well as robberies involving violence and weapons. 

Data shows that the Crime Severity Index (CSI) in the Waterloo Region decreased by 4.4% in 2023, with violent crime severity dropping by 5.7% and non-violent crime severity by 3.7%. These reductions suggest some success in addressing key public safety issues. However, despite this improvement, the region remains the second highest among major Ontario cities for severe crime, surpassed only by Thunder Bay.

“It goes without saying that gun violence throughout the region is a big focal point,” says Const. Iden.

Economic strains, organized crime, and the opioid crisis have been identified as significant contributors to crime in the region, which is why he says community engagement is pivotal. This includes having business owners or their employees immediately report incidents, depending on the situation, which may require a 911 call or by filing an online report.

“We take all that information in, and it helps dictate our strategized policing model,” says Const. Iden, noting the Galt core due its transient population and the commercial area around Hespeler and Pinebush roads due to its proximity to Highway 401 remain ‘hotspots’ for criminal activity in Cambridge.

Police reactively responding

“We have our (WRPS) direct action response team that’s constantly working in these two areas,” he says, adding the WRPS’ community engagement unit works closely with The Bridges shelter when it comes to the city’s unhoused population. “If we can get people to the resources they need and hopefully get them into some kind of subsidized housing, it will address these issues in the long term.”

But in the meantime, Const. Iden says the WRPS continues to reactively respond to calls from businesses, whether it’s a property crime or reports of unwanted persons.

“Businesses are reaching out and they’re curious since things are always changing. It’s hard to forecast how things are going to look in the future, especially since we’ve had such a social dynamic change in the last few years,” he says. “Our call volume is going up every year and it’s one of the challenges we have, but we’re definitely doing our best with what we’ve got, and I can tell you we are aware of the issues happening and are not turning a blind eye.”

Crime by the numbers

Regional stats compiled by the WRPS from Jan. 1-Nov. 14,  2023, and Jan. 1 to Nov. 14, 2024:

Commercial Property Damage

2023: 114 calls

2024: 93 calls

Unwanted persons (Commercial)

2023: 682 calls

2024: 711 calls

Commercial Thefts (Under $5,000)

2023: 322 Calls

2024: 272 calls

Shoplifting (Under $5,000)

2023: 819 calls

2024: 1223 calls

Implementing preventive measures can reduce risks and help your business operate securely. Here are some tips:

1. Secure Your Premises

Install High-Quality Locks: Use deadbolts and reinforced locks on all doors and windows.

Use Security Cameras: Install visible surveillance cameras both inside and outside the premises. 

Adequate Lighting: Ensure all areas around your property, including entrances, exits, and parking lots, are well-lit to discourage criminal activity.

2. Control Access

Restrict Employee Access: Limit who can access sensitive areas such as cash registers, safes, or stockrooms.

Key Management: Implement a key control system to track who has access to keys and change locks if keys are lost.

Electronic Access Systems: Consider using swipe cards or biometric systems for added security.

3. Train Your Staff

Recognize Suspicious Behaviour: Educate employees on how to spot and respond to suspicious individuals or activities.

Handle Cash Safely: Train staff to minimize the amount of cash on hand and make bank deposits at varying times to reduce predictability.

Emergency Procedures: Conduct regular drills so employees know what to do in case of robbery or other emergencies.

4. Invest in Technology

Alarm Systems: Install a reliable alarm system with motion detectors and glass break sensors.

Inventory Tracking: Use inventory management software to detect discrepancies that may indicate theft.

Remote Monitoring: Enable remote access to security systems so you can monitor your business anytime.

5. Collaborate with Police

Build Relationships: Develop a rapport with local law enforcement and participate in community crime prevention programs.

Report Suspicious Activity: Inform the authorities immediately if you notice unusual behaviour or suspect criminal intent.

6. Create a Community Network

Neighbouring Businesses: Share crime prevention strategies with nearby businesses to keep the area secure.

Join Business Watch Programs: Participate in local programs where businesses collaborate to deter criminal activity.

7. Insure Your Business

Adequate Coverage: Ensure your insurance policy covers theft, vandalism, and other potential losses.

Review Regularly: Update your policy as your business grows or changes to maintain adequate protection.

The following piece was submitted by Katrina Burch, Lead, Mental Health Promotion and Education CMHA Waterloo Wellington, who co-hosted a Chamber two-part ‘Mental Health in the Workplace’ seminar

October is Healthy Workplace Month and in today’s fast-paced, highly connected world, mental health has become a top priority for workplaces and with good reason, mental well-being directly impacts employee performance, satisfaction, and overall organizational success. 

Employers are recognizing that supporting mental health is not just the right thing to do but is essential for building a resilient and sustainable workforce. Studies consistently show that employees with good mental health are more productive, engaged, and loyal. In contrast, poor mental health can lead to absenteeism, high turnover, and decreased morale. But the question often remains what elements create a healthy workplace? 

Businesses at the beginning of their journey to support mental health can often feel overwhelmed with understanding of what to do and where to start. There are some simply ways to start changing the culture and understanding of mental health.

This could include sharing the resources available to employees whether that is an Employee and Family Assistance Program or the local mental health support and crisis numbers, such as Here 24/7 in Waterloo Wellington.

The inclusion of mental health training for managers and staff into onboarding or regular skill development helps to decrease stigma, while fostering an environment where employees feel safe to discuss their mental health and leaders are comfortable offering the proper assistance.

Assessing the current psychological health and safety of your workplace can also be helpful as a guide to develop an action plan, while also celebrating your successes.

Leaders must set boundaries

Understanding the signs that someone may be struggling with their mental health is key. These signs could include a change in performance, withdrawal from social interactions or team activities, increased absenteeism, difficulty concentrating, irritability or feelings of hopelessness.

It's crucial that leaders approach these situations with empathy and provide a supportive space for employees to share their experiences.  Additionally, leaders are not immune to mental health struggles. Business leaders should prioritize their own well-being by practising self-care and seeking help when needed.

It’s important to set boundaries, delegate tasks, and take breaks to recharge. Leaders should also make use of the same mental health resources available to employees, such as employee assistance programs (EAPs), therapy, or coaching.

By openly addressing their own mental health needs, leaders set a powerful example for their team, demonstrating that it’s okay to seek help when needed.

There are many resources out there to support this work for businesses of all sizes. Investing in mental health training for managers, such as workshops or webinars, can equip them with the tools to recognize and address mental health concerns.

For smaller businesses, Employee Assistance Programs are often more affordable compared to benefits and can provide confidential counseling and support services. Additionally, wellness apps or virtual therapy platforms can offer accessible mental health support at lower costs. 

Small businesses can also foster mental well-being by creating a work culture that emphasizes flexibility, work-life balance, and regular check-ins to gauge employee satisfaction and stress levels.

Open communication important

Businesses should embed mental health into the core of their company culture. This means maintaining open communication about mental health, regularly updating, and improving mental health policies, and ensuring leaders and employees receive ongoing training. Implementing regular assessments, anonymous surveys, and focus groups can help you stay attuned to employee needs.

Finally, recognize that mental health support should be continuous. Mental well-being isn’t something that can be addressed once and forgotten. By investing in long-term solutions, such as building a supportive and inclusive workplace culture and providing resources that evolve with the needs of your employees, you’ll ensure that both employees and leaders can thrive mentally, emotionally, and professionally.

By prioritizing mental health, businesses not only improve their employees' well-being but also foster a stronger, more engaged, and productive workforce.  Looking for assistance in developing your Psychological Health and Safety or Mental Well-Being programs?  

Share your information to connect and learn how we can support your organization's mental health initiatives.