Blog - Cambridge Chamber of Commerce

As vaccine rollout accelerates in Ontario, the Cambridge Chamber of Commerce and Ontario Chamber of Commerce’s (OCC) latest report offers solutions to support small businesses during economic recovery.

 

The COVID-19 pandemic is creating a cash flow crisis for many entrepreneurs and small business owners across Ontario who represent 98% of all Canadian businesses and contribute close to half the GDP generated by the private sector. Recognizing the critical role of entrepreneurship in Canada’s economic recovery, the Cambridge Chamber of Commerce and OCC’s latest report – Capital is Key:  Financing Entrepreneurship in Ontario After COVID-19 – offers practical solutions to support small businesses as they fuel Ontario’s economic advantage.  

 

“We know that Ontario’s economic recovery will largely be driven by entrepreneurs engaged in launching and scaling their enterprises,” said Cambridge Chamber of Commerce President and CEO Greg Durocher. “Even in good times, small business owners encounter challenges at various stages of growth. Real progress can come from redoubling efforts to eliminate barriers and advancing creative solutions to improve access to capital and other resources.”

 

“Entrepreneurial diversity should be recognized as a powerful strategy for Ontario’s economic recovery and long-term prosperity,” said Claudia Dessanti, Senior Policy Manager, Ontario Chamber of Commerce “Equal opportunities for women, Indigenous, racialized, and other diverse groups in the entrepreneurial ecosystem is necessary for both their own recovery and that of the entire province.  For example, closing the gender gap in entrepreneurship alone could add up to $81 billion to Canada’s GDP.”

 

This latest policy brief identifies 14 policy recommendations to improve financing of entrepreneurship, from loan guarantees to tax incentives, capital market reforms, procurement policies, and more.

 

The report also addresses eight key challenges policymakers must navigate as they look for ways to improve financing options and access to capital for entrepreneurs and small businesses:

  • RISKY BUSINESS: Small businesses (particularly start-ups) are generally riskier to finance than larger ones because they have shorter credit histories, fewer assets, and lower survival rates.
  • SCALE-UP FIRMS: Although Ontario excels at producing start-ups, the province has been less successful at turning high-growth firms into global competitors.
  • DIVERSITY: Barriers to accessing capital are uneven across demographic groups, which limits opportunities for some entrepreneurs and undermines broader social and economic outcomes.
  • DEBT: Despite relatively low interest rates, debt is not always the right solution for small businesses, particularly those with less collateral and/or irregular cash flows. Loans often require personal guarantees, and not all entrepreneurs have sufficient assets to provide as collateral.
  • WORKING CAPITAL: Over the past decade, Canadian businesses have signaled a growing need for external capital to cover day-to-day operating expenses. Working capital is especially important for start-up firms that may lack adequate cash flows to reinvest in their businesses in the first several months. However, in Canada, most government-supported loans and grants are designed for other uses, such as technology adoption.
  • INDUSTRY BIAS: Private equity and venture capital investors tend to have more appetite for sectors that are considered knowledge-intensive, such as information technology and biotechnology. As a result, more traditional brick-and-mortar businesses (such as restaurants and retail stores) may have limited access to equity investments.
  • PANDEMIC PRESSURES: As temporary grant and loan programs expire, many small businesses will need access to new financing or refinancing to grow, restructure, or simply keep their doors open.
  • SUCCESSION: Ontario’s aging population has implications for small business succession. By 2030, the number of seniors aged 65 and over is projected to almost double to 23 percent of Ontario’s population.

Read the report:  https://bit.ly/3vnA0Cf

 

We would like to acknowledge and thank Meridian Credit Union and Innovate Cities for their collaboration on this policy brief.

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It’s been just over a month since the first batch of rapid antigen screening kits were distributed to Waterloo Region SMEs through a pilot program created in partnership with the Cambridge and Greater Kitchener Waterloo Chambers of Commerce and Communitech.

 

And since that time, close to 2,000 of these SMEs (under 150 employees) are now offering their workers the opportunity to screen twice a week, with more placing their orders via our ‘www.chambercheck.ca’ (recent winner of the Ontario Chamber of Commerce’s Power of the Pivot Award) site every day as businesses continue to look for ways to navigate their way through this pandemic.

 

The program is now being rolled out provincially and nationally thanks to the Canadian and Ontario Chambers of Commerce who are currently working with other Chambers and government leaders to ensure all SMEs have access to this valuable ‘weapon’ in the fight against COVID-19.

 

“In my 20 years with the Chamber, I can’t think of another program in the Chamber Network that has had a much impact on business as this program has had,” says Cambridge Chamber of Commerce President and CEO Greg Durocher. “I’m so proud to be the Chamber where it started and was piloted because it gives me confidence in our ability to deliver national programs that are innovative.”

 

He says the need for rapid screening to identify those who are asymptomatic was first noted by members of the BESTWR (Business and Economic Support Team of Waterloo Region) during the early days of the pandemic. The team, which Greg serves on with representatives from the Waterloo Region Economic Development Corporation, Great Kitchener Waterloo Chamber of Commerce, Communitech and Waterloo Regional Tourism Marketing Corporation, was formed 13 months ago to assist local businesses address COVID-19-related challenges.

 

“We knew testing and more testing was key when it comes to controlling the spread and understanding its impact on people and the economy,” says Greg, who credits Communitech President and CEO Iain Klugman with procuring the kits from the Federal Government who were distributing them at the provincial level in long-term care facilities and larger essential workplaces only.

 

“They (Province) really didn’t have a mechanism in place to get them out to smaller and medium-sized businesses,” he says, noting the two local Chambers joined forces to assist once the Province approved that screenings could be conducted by non-healthcare providers since the procedure is not as ‘evasive’ as a PCR test. The Abbott Panbio Antigen kits provided through the Chamber program are more than 90% effective.

 

“We knew we were part of a pilot project to determine if this was feasible and acceptable and workable in every jurisdiction in Canada,” says Greg, adding bringing the screening kits directly to workplaces rather than have employees visit a secondary location to be screened, was clearly the best option.

 

He likens the journey to building an airplane during mid-flight.

 

“We kind of built the program in real time, not unlike on what’s happened during the pandemic,” says Greg, adding the Chambers have also developed a ‘playbook’ which is being used as a guide for other Chambers to help them set up their own programs.

 

Locally, orders are placed at www.chambercheck.ca and volunteers prepare the kits for pick‐up at the Cambridge Chamber’s office at 750 Hespeler Rd. A representative from each SME responsible for supervising the self‐screening collection onsite is needed for the initial pick‐up and receives video training to properly supervise the screening process and safely dispose of the used kits. Each SME is required to electronically submit their screening results and the accumulated data is reported to the Ministry of Health bimonthly. If a screen results in a positive for COVID‐19, the employee is required to leave the workplace and notify public health to arrange for a PCR Test at an approved Public Health Collection Site and await further instructions from Waterloo Region Public Health.

 

“This program is not intended for employees working at home,” says Greg, noting Ontario’s current Stay at Home Order clearly indicates even those employed by an essential business, must work from home if they can. “They’re already  safe at home, so they shouldn’t be coming into the workplace.”

 

He says rapid screenings are voluntary and admits that some employees, for personal reasons, may be hesitant to take part.

 

“But you could remind them that it’s not about them, this is about the people who work around them,” says Greg, adding when someone tests negative, they feel more confident and comfortable working around others and being around their own families. “We’ve noticed through this whole process that this has become more of a mental health tool as much as it has become a medical tool.”

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The importance of rapid screening in the battle against this pandemic has been seen as the preferred weapon of choice near the top of the wish-list of health experts and members of the business community since the first cases of COVID-19 were detected more than a year ago.

 

Thanks to the recent introduction of our pilot project that is seeing thousands of Abbott Panbio Antigen screening kits distributed to Waterloo Region SMEs (under 150 employees), many local businesses now have the capability to conduct rapid screening.

 

“If all businesses would jump on board with this process, then we would be able to keep a better eye on the virus as well as the variants,” says Cynthia Fernandez, owner of Accurate Auto Appraisal in Cambridge.

 

She is among at least 1,500 businesses in our region that have utilized the free kits through the www.chambercheck.ca website since the initiative was launched April 5.

 

The goal of the program, created through Health Canada and in partnership with the Greater Kitchener Waterloo Chamber of Commerce and Communitech, is to identify asymptomatic or presymptomatic individuals in effort to prevent the spread of COVID-19 in the workplace, at home and around the community.

 

Volunteers prepare the kits for pick-up at Cambridge Chamber’s office at 750 Hespeler Rd. and in keeping with all the necessary safety protocols, a designate from each SME receives video training when they pick up their kits that explains how to properly supervise the screening process and safely dispose of the used kits.

 

“We know that rapid screening has always been the key when it comes to curbing the spread and having these kits is a great way to assist our SMEs get back on track after a difficult year,” says Cambridge Chamber of Commerce President & CEO Greg Durocher. 

Cynthia agrees.

 

“It is a very nerve-wracking thing to still go to work (outside of the home) and know that it’s still a very real possibility,” she says, referring to the threat of contracting the virus. “Everyone who works for Accurate is very receptive of the screening and it provides a peace of mind for them and their families as well.”

 

Shimco President and CEO Peter Voss has discovered the same after utilizing screening kits for his staff.

 

“Employees have commented that they feel safer now coming to work, and they are more comfortable going home to their families now,” he says, noting they are conducting the recommended two sets of screenings every week.

 

In accordance with safety protocols, if a screen results in a positive for COVID-19, the employee is required to leave the workplace and notify public health to arrange for a PCR Test at an approved Public Health Collection Site and await further instructions from Waterloo Region Public Health.

 

“Our employees see it as a positive addition to our already strict COVID cleaning and screening procedures,” says Sara Chamberlin, Human Resources Manager at Cambridge Hotel & Conference Centre.

 

At Swift Components Corp., Managing Partner Kristen Danson says having the kits has instilled confidence in her employees, including two additional hires the company made after she picked up her first order of kits the day the program was launched.

 

“Initially, when I said to them it was onsite work, they were quite cautious which is to be expected when starting in a new workplace,” she says. “(The kits) have really helped the new people to our organization see that we are taking this seriously and we have a process in place to control things.”

 

Besides helping employees, having a rapid screening process in place has also inspired more confidence for the clients of these businesses.

 

“For vehicle appraisal, it is very calming for the customers that we need to see in person to know that any of our appraisers that come out to see them are in fact negative, as well as vaccinated,” says Cynthia. “We are so very blessed to be able to have access to them; I feel that it has been a helping with anything that we need to see in person.”

 

The majority of those who’ve accessed the kits say the process is relatively easy to navigate in terms of ordering and administering them.

 

“You have to find a way that works in your system,” says Kristen, explaining how at Swift Components the first round of screenings were administered in a boardroom. “It took forever to rotate people through. But then we realized we have a cart with wheels that we were able to take out into the production area and literally do the screenings on the shop floor.”

 

She says this simple change expediated the process considerably.

 

“You just have to look at your process and space and figure out what works.”

 

Kristen says her company has picked up a second order of kits.

The initial orders provide businesses with two weeks of screening kits, but most are interested in obtaining more.

 

 “Should we use the supply we have been given, we will be requesting more as we continue to promote the benefits of the program to our team,” says Sara.

 

Peter feels the same.

 

“I know it’s not possible currently, but I liked to do the screenings daily if there was enough supply,” he says, adding his employees are screened before they even enter the building.

Each SME is required to electronically submit their screening results after each occasion and the accumulated data will be reported to the Ministry of Health bimonthly.

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The Cambridge Chamber of Commerce and Ontario Chamber Welcome Focus on Tourism, Small Business, Women, Training, and Local Communities

 

The Cambridge Chamber of Commerce released the following response to the Government of Ontario’s 2021 Budget, Ontario’s Action Plan: Protecting People’s Health and Our Economy.

 

“Ontario’s 2021 Budget means supports for the hardest-hit sectors and communities including right here in Waterloo Region, much needed aid for women who have been deeply impacted by the pandemic, and initiatives that will create a strong economic rebound related to tourism, training, and vital infrastructure such as broadband,” said Cambridge Chamber of Commerce President and CEO Greg Durocher.

 

Leading up to Budget 2021, the Ontario Chamber Network was calling for policies that mitigate the immediate impacts of the crisis and lay the groundwork for a robust and inclusive economic recovery. Resources need to be focused on those hit hardest by the pandemic, where they will have the greatest impact.

 

“Ontario’s business community welcomes the 2021 Budget, which gives businesses much-needed supports to confront the current health crisis while laying the foundation for a strong and inclusive economic recovery,” added Rocco Rossi, President and CEO of the OCC.

 

Some of the things called for in the Ontario Chamber Network pre-Budget Submission included:

  • Targeted support for the hardest-hit sectors and communities;
  • Demand-driven skills programming;
  • Enhanced access to capital for small businesses and entrepreneurs;
  • Bold action on interprovincial trade;
  • Strengthening of municipalities’ fiscal capacity; and
  • A sensible path to getting Ontario’s finances on track post-pandemic.

 

“Women’s fulsome participation in the labour market is a precondition to our economic recovery and future prosperity. We greatly appreciate the new supports for women, as they have been among those disproportionately impacted by the crisis,” said the report’s author Claudia Dessanti, Senior Policy Analyst of the Ontario Chamber of Commerce. “A taskforce for inclusive economic growth, further supports for child care, a job training tax credit, relief for the tourism industry, and support for survivors of domestic violence are all welcome initiatives that will help turn the tides on the impacts that were so severe and immediate for women in Ontario. Budget 2021 addresses many of the supports we called for in our recent report, The She-Covery Project: Confronting the Gendered Economic Impacts of COVID-19 in Ontario.”

 

Some of the measures welcomed by the Ontario Chamber Network in the 2021 Budget are:

 

Support for inclusive growth:

 

  • A taskforce for inclusive economic growth. The COVID-19 crisis has disproportionately affected women, racialized individuals, Indigenous people, people with disabilities, and other communities in the province. The new taskforce will examine how to increase women’s participation in the workforce, which will support economic recovery.
  • Temporary Job Training Tax Credit. Studies suggest about half a million jobs are not expected to return in Canada after the pandemic, the majority of which are occupied by women. Financial support for underemployed individuals to access training and reskilling will be particularly important for lower-income workers, new immigrants, and Ontarians living in Indigenous, rural, remote, and northern communities.
  • Child care support. Access to affordable child care is a long-standing issue that has been exacerbated by the pandemic. Enhancing the CARE tax credit for 2021, extending financial support for virtual learning costs, and investing in new child care spots will help ease the burden for Ontario families and allow more women to re-enter the workforce.
  • Supports for women fleeing domestic violence. The increase in domestic violence incidences during the pandemic has forced many women to leave their homes and communities, jeopardizing their safety and livelihood. Support for women in transitional housing and underserved areas will help provide safety for women in vulnerable situations.

 

Supports for business:

 

  • Doubling of the Ontario Small Business Support Grant. The grant has helped many organizations survive the crisis thus far and making this an automatic top-up instead of asking businesses to re-apply will reduce the administrative burden on both businesses and government.
  • Additional resources for the Digital Main Street Grant. Many small businesses, particularly in rural and remote regions, have benefited from the supports of this grant to get their business online. Expanding the program will help more businesses digitize and prepare for the economy of tomorrow.
  • Invest Ontario Fund. Additional funding in Invest Ontario over the next four years will be important to create jobs and investment across the province.

 

Support for tourism:

 

  • Tourism and Hospitality Small Business Support Grant. The OCC recently wrote to the Ontario government about how the tourism industry is not eligible for the Ontario Small Business Support Grant. This new grant is welcome news for hotels, travel agencies, hunting and fishing camps, and other organizations that did not qualify for the original grant.
  • Local Tourism Tax Credit and Tourism Recovery Program. Many of the chambers of commerce and boards of trade are active in the tourism industries within their local communities. These additional supports will be critical to support a revival of tourism after the pandemic.
  • Support for alcohol producers & local distilleries. Ontario’s vineyards, cideries, and small distillers have been greatly impacted by the pandemic as tourism stalled this year.

 

Support for communities and municipalities:

 

  • Broadband investments. The pandemic has put the spotlight on the digital divide for people and businesses, particularly in remote and rural communities. Additional funding to connect all Ontarians, including businesses, to reliable broadband by 2025 is welcome news. 
  • Regional Opportunities Tax Credit. Additional resources towards this program will allow rural and remote communities to invest in projects that create local jobs and economic growth.
  • Property reassessment for municipalities. Pausing the property tax reassessment gives municipalities and businesses more capacity and time to adjust to the economic uncertainty and challenges caused by the pandemic.
  • Expansion of the Ontario Together Fund. The Ontario Together Fund has successfully leveraged Ontario’s business community to address pandemic-related challenges and support relief efforts.
  • Access to vaccination appointments. The Ontario Chamber Network welcomes support to help seniors and people with disabilities get to their vaccination appointments. The faster the population is inoculated, the sooner we can focus on recovery.
  • Strategic Priorities and Infrastructure Fund. Renovations to local buildings and sports facilities will also be integral to local economic growth and recovery initiatives.

Read the Ontario Chamber of Commerce full pre-Budget submission here.

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Chamber network urges government to address pain points and lay the groundwork for a strong rebound as province grapples with economic fallout of the crisis

 

The Cambridge Chamber of Commerce and Ontario Chamber of Commerce (OCC) has released its 2021 Ontario pre-Budget submission, which focuses on recovery, growth, and modernization.

 

The submission calls for policies that minimize the impacts of business closures, uplift the sectors and demographics hit hardest by the pandemic, invest in the infrastructure and workforce of the future, and modernize government services to improve outcomes for businesses and residents.

 

 

“With Ontario’s economy expected to enter a period of recovery this year as vaccines are distributed and businesses begin to reopen, resources need to be focused on where they will have the greatest impact,” said Cambridge Chamber of Commerce President & CEO Greg Durocher. “In the upcoming budget, we would like to see a focus on reskilling, broadband, and access to capital, which will be necessary for the revival of small business and entrepreneurship as well as an inclusive   economic recovery.”

 

In 2021, Ontario will continue to grapple with the COVID-19 pandemic and its economic fallout. The Cambridge Chamber and OCC’s submission notes the crisis has created new problems and exacerbated pre-existing ones. The impact on people and business has been catastrophic overall, and disproportionate for certain regions, sectors, and demographics.

 

“Resources should be targeted towards the sectors and communities that have been hit hardest by the COVID-19 pandemic, including industries requiring face-to-face contact, small businesses, municipal governments, as well as women, lower-income, racialized, elderly, new immigrant, and younger Ontarians,” added Rocco Rossi, President and CEO of the Ontario Chamber of Commerce.

 

The recommendations outlined in the submission were developed together with businesses, post-secondary institutions, chambers of commerce, and boards of trade. The submission focuses on mitigating the immediate impacts of the crisis, while laying the groundwork for a robust and sustainable economic recovery.

 

Read our provincial pre-budget submission here: bit.ly/3qYxUqg

 

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(February 5, 2021) – The Chamber Network is looking forward to create a co-ordinated approach to reopening the province’s economy in the wake of the pandemic and calling on the Provincial government to ensure this happens in a balanced fashion.

 

“In the middle of a once-in-a-century pandemic, it is difficult to think beyond confronting the immediate demands of COVID-19,” said Cambridge Chamber of Commerce President & CEO Greg Durocher.   “However, even as we continue supporting each other today, we must also begin looking over the horizon to ensure businesses are prepared for the province’s reopening and recovery. It is never too early to start planning how our province and economy can emerge stronger while doing everything necessary to avoid further lockdowns.”

 

Each region’s experience differs significantly across the province when it comes to transmission rates, tracking and tracing capacity, and other variables.  The Cambridge Chamber of Commerce and the Ontario Chamber of Commerce have written to the Premier so that when the time comes businesses of all sizes have a predictable and coordinated effort to ensure society reopens in a harmonized fashion that prioritizes individual safety as well as economic stability asking for the following:

 

  • A readiness plan with a focus on sectors and regions hardest hit. It is critical that Ontario’s employers are aware of how reopening will take place step-by-step so they can properly prepare.
  • Advanced notice. Businesses and their employees need sufficient time to prepare to get back to work. 
  • Clear guidelines. Businesses need to clearly understand the rules and how they will be enforced. Inconsistent and unclear public health guidelines cause confusion among businesses, employees, and consumers alike, and make it difficult for individuals to take appropriate action to protect themselves and their communities.
  • Fulsome communication. Educational training via virtual workshops in advance of reopening would equip employers with practical information to help them keep staff and customers safe.
  • Workforce management systems. Employers in Ontario should adopt a scalable digital software tool for routine self-screening and assessment by employees, as part of a comprehensive workforce management system.
  • Rapid testing. Sufficient and timely testing and tracing gets employees back to work quickly, ensuring continued productivity and reduced strain on families.
  • Evidence-based decision making. A strong testing and tracing apparatus ensures the province can accurately assess where and how the virus is spreading, so that efforts to target restrictions can be confidently based on solid data.
  • Continued supports for those who need it most. Finally, continued timely and accessible supports for business will prevent further layoffs, closures, and bankruptcies.
  • Leveraging private sector to support vaccine distribution and deployment. Businesses will be critical in supporting public awareness, logistical capabilities, and best practices.

“As the government explores options to safely re-open the economy, it is worth noting that businesses already adhere to a number of existing health and safety protocols and will do their part to support a safe re-opening. The business community will continue to prove their commitment to safety protocols to protect their worker and customers to keep their doors open,” added Durocher

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The release of the province’s Budget 2020 Ontario’s Action Plan: Protect, Support, Recover has gained the support of the Chamber of Commerce network and business community.

 

The recent budget lays out $187 billion in expenditures this year to help the province recover from the impact of COVID-19, earmarking cash for healthcare and subsidizing electricity rates for businesses.

 

 

“These are extremely difficult times for businesses, and we understand that there is only so far a provincial government can go,” said Cambridge Chamber of Commerce President & CEO Greg Durocher. “I was particularly please with the reduction in electricity, education tax and the increase in the exemption to the employer’s health tax.”

 

Many of these items were called for in a pre-budget submission released last week by the Ontario Chamber of Commerce, which Cambridge Chamber of Commerce Board Chair Darren Drouillard says the board supported.

 

“Focusing intently on reducing overhead for SMEs through lower utility costs and tax reductions to business and improving IT infrastructure throughout the province, it is evident that the OCC is in touch with the needs of business and has a well thought-out set of recommendations to guide us through the next stage of the pandemic and economic recovery,” he said.

 

The OCC and Cambridge Chamber have long advocated for greater investment in broadband and cellular infrastructure, reforming taxes to enhance business competitiveness, developing new skills training opportunities, and lowering the cost of electricity for industry, all of which are priorities in Budget 2020.

 

“I certainly welcome a reduction for small businesses in the property tax, however, we will need to see how that comes off the page,” said Greg. “Municipalities cannot hold the burden of these reductions when they are unable to run deficits or borrow money for operational losses.”

 

The province is looking at spending $45 billion over the next three years on the crisis, taking into account the $30 billion already announced earlier this year, plus $15 million in new funding over the next two years. The plan also shows a record deficit of $38.5 billion for this year, which is in line with the government’s projections in the summer. A plan to balance the budget is expected in next year’s budget.

 

 “Now is the time to explore innovative partnerships – such as pubic/private partnerships to build our needed rail infrastructure, commissioning, alternative financing, and community and social impact bonds – to share risk and make the most of every dollar spent,” said Greg, noting small businesses are the heart of the community.

 

Darren agrees.

 

“We, as a business community and network of Chambers and Boards of Trade, will continue to overcome through collaboration, innovation and resilience,” he said.

 

Some key measures in Budget 2020 supported by the Ontario business community include:

 

  • Reducing commercial and industrial electricity rates will make Ontario businesses more competitive and enable them to invest in recovery and growth. For years, Ontario businesses have paid more for electricity than most other jurisdictions in North America, and the pandemic has only increased electricity system costs.
  • Business Education Tax rates vary throughout Ontario; as a result, businesses in London, Waterloo, Hamilton, Toronto, Windsor/Middlesex, and Kingston are paying higher taxes than those in other regions. The government has announced it will both reduce the BET rate and address regional variance within that rate, both of which the OCC and its Chamber network have advocated for in the past.
  • The decision to make the higher Employer Health Tax threshold permanent is a welcome one that will free thousands of businesses from having to pay this tax.
  • The move to allow municipalities to target property tax relief specifically to small business is a creative and important tool to grant communities, given that small business has been hardest hit by the pandemic.
  • Broadband is a basic infrastructure requirement in today’s economy, but the ongoing pandemic has made it even more essential to public health and economic resilience. The Chamber network is very pleased to see the government take this seriously with an additional investment of $680 million (for a total of nearly $1 billion) over six years.

 

For a look at the budget, visit: occ.ca/rapidpolicy/2020-provincial-budget

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Small businesses are at the heart of our communities. They create good jobs, grow our economies and bring life to our main streets. But they have also been among the hardest hit during the COVID-19 pandemic.

 

As we continue to fight this virus, small businesses face further losses, increased costs to reopening and an uncertain economic future. The Government of Canada is committed to doing whatever it takes to support small businesses and their communities. Their success is critical as we recover and rebuild from the COVID-19 pandemic.

 

On Tuesday, during Small Business Week, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, announced an investment of $12 million in the Canada United Small Business Relief Fund.

 

“The support announced today is yet another lifeline for resilient small businesses across Canada. These grants will help them cover expenses involved in reopening and allow them to build a stronger digital presence,” said Ng.  “As we’ve said from the very beginning of this pandemic, we will always be there for small businesses and the millions of hard-working Canadians they employ.”

 

Cambridge Chamber of Commerce President and CEO Greg Durocher welcomed the news. “There has never been a more important time to support local small business than right now. They are critically important to our own local economy.”

 

Canada United is a national fundraising campaign created by the Royal Bank of Canada (RBC) in collaboration with private sector partners and provincial and territorial chambers of commerce, including the Ontario Chamber of Commerce (OCC). The campaign has been rallying support from Canadians for local small businesses in every corner of the country.

 

The Canada United Small Business Relief Fund, which is managed by the OCC, is supporting Canadian businesses across different sectors and industries with grants of up to $5,000. These grants will help thousands of small business owners cover the costs of personal protective equipment, make physical modifications to their businesses to meet local health and safety requirements, and enhance their digital or e-commerce capabilities. This is especially important as we enter the second wave of the pandemic.

 

This investment builds on the federal government’s continued support for small and local businesses through a wide range of COVID-19 emergency programs, such as the expanded Canada Emergency Business Account, the Canada Emergency Wage Subsidy and the new Canada Emergency Rent Subsidy.

 

At A Glance:

 

  • Starting on October 26, small businesses can apply online through the Ontario Chamber of Commerce for the next wave of Canada United Small Business Relief Fund grants.
  • Applications are open to small businesses across sectors and industries in every part of the country that have between $150,000 and $3 million in annual sales; have up to 75 employees; are registered in Canada; and would use the grant to cover the costs of personal protective equipment, make physical modifications to their businesses to meet local health and safety requirements, and enhance their digital or e-commerce capabilities.
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The Cambridge Chamber of Commerce and Ontario Chamber of Commerce have released The She-Covery Project: Confronting the Gendered Economic Impacts of COVID-19 in Ontario.

 

This policy brief lays out a path to Ontario’s economic recovery offering practical recommendations to confront both immediate and longer-term challenges faced by women.

 

“With women’s labour force participation at a record low, decades of progress towards gender equality are at stake,” said Rocco Rossi, President and CEO, Ontario Chamber of Commerce. “This is not only a watershed moment for women but for Ontario’s economy and society more broadly, as women’s participation in the labour market is a precondition to its fulsome economic recovery and future prosperity.”

 

“The economic impacts of the pandemic were direct and immediate for women in Ontario,” said Cambridge Chamber of Commerce President and CEO Greg Durocher. “Temporary business shutdowns during the state of emergency most severely affected sectors that predominantly employ women. Restrictions on schools and paid child-care facilities have shifted additional hours of unpaid family care onto parents, and this work has largely been taken up by mothers.”

 

Major takeaways from the report include:

  • Leadership and accountability begin with a commitment from stakeholders to set collective targets, reward diversity, include women in decision-making bodies, and apply a gender and diversity lens to their strategies, policies, and programs for recovery.
  • Child care requires a short-term strategy to weather the pandemic and longer-term, system-wide reforms to improve accessibility and affordability.
  • Workforce development initiatives should focus on defining critical skills, accelerating women’s reskilling, and ensuring their skills are utilized – with a focus on increasing their participation in skilled trade, technology, and engineering roles in fast-growing sectors.
  • Entrepreneurship should be understood as a pathway to economic growth, and an inclusive ecosystem is critical to supporting women entrepreneurs.
  • Flexible work arrangements are one way to level the playing field for women and improve organizational outcomes.

 

For more, see the report at:  https://occ.ca/wp-content/uploads/OCC-shecovery-final.pdf

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The Cambridge Chamber has joined Canada United, a national movement to support local businesses in communities across the country.

 

As part of the movement, RBC has brought together more than 50 of Canada’s leading brands, Business Associations and the national Chamber network to rally Canadians to “show local some love” by buying, dining and shopping local.

 

“The Cambridge Chamber is pleased to support the Canada United movement and help bolster businesses in and around our community. Small businesses are the backbones of our local economies and key to thriving communities,” says Cambridge Chamber of Commerce President & CEO Greg Durocher. “The COVID-19 pandemic has created unprecedented challenges for businesses in our region and across the province. We need to continue to support SMEs who create jobs, drive innovation, and generate wealth for communities across Ontario – they will play an integral role in helping the province bounce back.”

 

Canadians are invited to join the Canada United movement by buying and dining local, including celebrating and supporting local businesses during the Canada United Weekend from August 28 to 30.

 

Canadians are also encouraged to watch the Canada United videos online at GoCanadaUnited.ca, like posts from @GoCanadaUnited on social media and use #CanadaUnited to demonstrate their support. For each of these actions until August 31, 2020, RBC will contribute 5 cents up to a maximum contribution amount of $2 million to the new Canada United Small Business Relief Fund, while working with government and corporate partners to source additional contributions to the fund during the course of the campaign. This fund will provide small businesses with grants of up to $5,000 to cover expenses related to personal protective equipment (PPE) renovations to accommodate re-opening guidelines and developing or improving e-commerce capabilities.

 

Small Canadian businesses across the country will be able to apply for up to $5,000 in grant funding. The program intends to support small Canadian businesses of all kinds from across the country. The Canada United Small Business Relief Fund will be administered by the Ontario Chamber of Commerce on behalf of the national Chamber network. Small business owners who are interested in the program can visit GoCanadaUnited.ca to learn more about grant application details, including eligibility criteria, and to apply.

 

“We are excited to welcome the Cambridge Chamber to Canada United to help local businesses and Canada’s economy come back strong,” said Neil McLaughlin, Group Head, Personal & Commercial Banking, Royal Bank of Canada. “Canada United was created to kick-start an economic rebound by rallying consumers to give local businesses the support they need to re-open during these uncertain times. By bringing together government, business associations and corporate Canada, we are looking to start a movement to get Canadians to buy local and support businesses across the country. We are genuinely excited by the energy all of our partners are bringing to this effort.”

 

“If there has been one silver lining in all the tragedy and sacrifices of the current crisis, it has been the spirit of collaboration and unity of purpose that has been evident between levels of government, across provinces and across sectors,” said Rocco Rossi, President and CEO, Ontario Chamber of Commerce.

 

“We are calling on that same unity of purpose with Canada United. Small, local businesses are the heart of our communities, our Main Streets and our economy. Together, it is time to show local some love.”

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