|
|
 |
 |
|
|
INSIGHT |
ICYMI: Q3 Data Released Via the Canadian Survey on Business Conditions (CSBC) and Our Business Data Lab Team. |
 |
Last week the Business Data Lab released its Q3 2023 survey insights and data. What trends does the data show? Here are some observations: Businesses expect sales and hiring to slow in the near term. With cost challenges remaining pervasive, profits are expected to shrink. The outlook is most concerning in Ontario (particularly for Toronto) and British Columbia, whereas Quebec continues to have the most optimistic outlook in the country. Canada’s GDP unexpectedly contracted in the second quarter. The CSBC provides new evidence of ongoing turmoil in the third quarter as the transportation sector was hard hit by the nearly two-week long port strike in July, adding to disruptions caused by wildfires. Despite broad-based inflation pressures, with the economy sputtering, the Bank of Canada decided to hold its policy rate in September, rather than continue to tighten as it did over the summer. Nonetheless, after an almost 5% cumulative increase in the central bank rate, consumer spending has now stalled. This latest survey shows that businesses are also feeling the pain from higher rates, which are exacerbating cost pressures and debt constraints — especially for microfirms, whose finances are most restricted.
This quarter’s survey includes new insights into interprovincial trade and related barriers, the various payment methods businesses accept, and their environmental practices. |
|
|
Things to Watch This Week: Wednesday, September 27, is World Tourism Day. DYK that the sector employs one in every ten people on earth? Yet, the global tourism industry is still recovering from the pandemic. There will be a GDP announcement on Friday, September 29. Our Business Data Lab team will have a commentary to follow. Saturday, September 30, is National Day for Truth and Reconciliation. Our September Policy Matters focused on the day and what business can do to advance economic reconciliation.
|
|
5 Reasons Why the Digital Service Tax Will Create Major Trouble for Canadian Consumers and Businesses. |
 |
If the retroactive Digital Service Tax (DST) is implemented on January 1, 2024, Canadian consumers and businesses will feel the effects both in the short- and long-term. Read our recent blog to learn how the new tax will increase the cost of your daily online services, decrease Canada’s competitiveness on the global stage, and discourage innovation in startups and small businesses. |
|
|
 |
|
Navigating the Skies: 6 Takeaways from Our Aviation Executive Summit. |
 |
On September 25, executives and government officials alike descended upon Canada’s National Arts Centre for our Executive Summit Series event, “The Future of Canada’s Aviation Sector”.
The summit provided a unique platform to discuss, analyze and envision the future of this crucial sector. During this summit, the following topics were discussed: Airport Authority Investment Strategies, Supporting Regional Airports, Sustainability, Competitiveness, a Collective Vision for the Sector and Energy. |
|
|
Government Announces Funding to Increase the Economic Participation of Women in Canada. |
 |
Yesterday, Minister for Women and Gender Equality and Youth Marci len announced $3 million over four years for the LEAP | Pecaut Centre for Social Impact (LEAP) to increase the economic participation and prosperity of women in Canada, particularly those from equity-deserving groups. |
|
|
INFLUENCE |
Executive Summit on Cybersecurity.
October 4 | Virtual | 1:00 p.m. to 3:00 p.m. ET |
 |
The cybersecurity skills gap and the increasing number of connected devices pose significant challenges in securing our digitally enabled world. This virtual Executive Summit aims to address these challenges by focusing on cooperation between the private and public sector, policy and regulatory frameworks, and bridging the cybersecurity skills gap.
Attendees will hear from Caroline Xavier, Chief of the Communications Security Establishment (CSE), and other cybersecurity experts during this summit. |
|
|
AGM & Convention: Energizing Canada’s Future.
October 12 to 14 | Calgary, AB |
 |
The countdown is on! We are two weeks away from our biggest event of the year. Get ready for a weekend of learning, networking and conversation that will help strengthen the Canadian business community.
Enjoy presentations from our Business Data Lab and the Canada Infrastructure Bank and add your voice to the policy resolution debates! Download your meeting materials in advance and view the rest of the agenda to get ready for the biggest event of the year. |
|
|
|
October is Cyber Security Awareness Month (Cyber Month). |
 |
Cyber Month is an internationally recognized campaign held each year to help the public learn more about the importance of cybersecurity. The campaign helps Canadians stay secure online by teaching them simple steps to protect themselves and their devices.
With cyberattacks occurring more frequently, it’s important to recognize that cybersecurity is a team effort. Led by the Communications Security Establishment, with advice from its Canadian Centre for Cyber Security, Get Cyber Safe is a Government of Canada public awareness campaign designed to inform Canadians about how to stay safe online.
Discover the many resources available for you and your team to increase your knowledge of cybersecurity. |
|
Canada’s Competition Summit 2023 to Explore Policy Approaches to Unlock Competition. |
 |
Don’t fall victim to scams! Scammers target everyone and no one is immune. You are invited to an engaging presentation where you will gain valuable insights on how to recognize the many types of scams and learn what to do if you are a victim. The webinar will cover: How to identify fake CRA calls, texts, emails or mail. How to recognize legitimate communications from the CRA. Steps you can take to protect yourself from scams. What to do if you're a victim of fraud. Helpful services and tools.
The webinar will feature a live Q&A session. Space is limited! |
|
|
Welcome to Our New Members! |
 |
We are excited to welcome our new members from the month of September to our #CanadianChamberNetwork!
Together, we will build a Canada where businesses thrive. Learn more about our new members below: |
|
 |
|
IMPACT |
Toronto Global Forum.October 11 to 13 | Attend at a Special Chamber Member Rate |
 |
Now in its 17th edition, the Toronto Global Forum will be held at the Fairmont Royal York Hotel in Toronto. Canadian Chamber of Commerce members will receive a 35% discount on three-day passes by registering via the link below.
Organized by the International Economic Forum of the Americas (IEFA), this year’s Toronto Global Forum will discuss “Fostering Economic Resilience” and will feature more than 140 speakers from companies including CN, Delta Airlines, General Electric, CIBC, Rio Tinto, Norges Bank Investment Management and Volvo Autonomous Solutions. |
|
|
Government Issues Call for Proposals to Support Organizations Serving Women. |
 |
Are you part of a Canadian women’s, Indigenous, or other equality-seeking organization with experience advancing equality for women?
Your organization may be eligible for funding under a new program. Last week, Minister for Women and Gender Equality and Youth Marci len launched two new concurrent calls for proposals to support organizations in Canada serving women. You are invited to apply for funding in two areas: Women’s Economic and Leadership Opportunities Fund: up to $100 million for new projects or to scale up past projects that change systems to increase women and girls' economic security and prosperity, as well as their representation in leadership and decision-making roles. Women’s Capacity Fund: up to $30 million for organizations to increase capacity to reach their goals, and to participate in activities such as partnership development and community engagement.
Don’t wait too long, this opportunity closes November 3, 2023. |
|
|
Thinking Big, Supporting Small: Fuelling Business Decisions with Data.
October 18 | 12:00 p.m. to 1:00 p.m. ET | Virtual | Discussion and Live Q&A |
 |
Canada's business environment is undergoing rapid transformation, driven by a combination of factors including rising interest rates, a global economic slowdown, and remarkable advancements in artificial intelligence (AI). These developments have the potential to reshape Canada’s economy once again.
In this time of change, entrepreneurs equipped with data-driven insights can confidently steer their businesses toward growth and success.
During Small Business Week, join us for this event as we explore the evolving business landscape and equip entrepreneurs and small businesses with the knowledge and confidence necessary to not only survive but thrive in this new era.
Speakers: Pierre Cléroux, Vice President, Research and Chief Economist, BDC Stephen Tapp, Chief Economist, Canadian Chamber of Commerce Marwa Abdou, Senior Research Director, Canadian Chamber of Commerce
|
|
|
|
