Breaking News - Tariff Support - The Chamber is your source for Tariff Updates. Check out our page for the latest Tariff Resources, SUpport & Events
Peterborough + Kawarthas Chamber of Commerce
  • About Us
    • About Us
    • Contact Us
    • Board of Directors
    • Staff Directory
    • Careers
  • Events
    • Calendar
    • Host a Chamber Event
    • Monthly >
      • The Business Exchange (TBX)
      • ChamberAM
      • Not-for-Profit Group (NFP)
    • Annual >
      • Luminary Awards
      • Seniors Showcase
      • PK Excellence
    • Campaigns and Connections >
      • Sales Lead Network
      • 26 Coffees
      • #lovelocalptbokawarthas campaign
    • 26 Coffees Program
  • Membership
    • Join Us
    • Benefits >
      • Chambers Plan
    • Profile and Sponsorships
    • Resources
    • Members Only
  • News
    • Voice of Business Podcast
    • Voice of Business
    • The Business Beat
    • Subscribe to e-Newsletter
  • Resource Hub
  • Directory
  • Advocacy
    • Policy Resolutions
    • Advocacy at Work
    • Advocacy Wins
    • Subscribe to e-Newsletter
  • Breaking News - Tariff Support
    • Updates
    • Resources
    • Support
    • Trade Analytics
  • About Us
    • About Us
    • Contact Us
    • Board of Directors
    • Staff Directory
    • Careers
  • Events
    • Calendar
    • Host a Chamber Event
    • Monthly >
      • The Business Exchange (TBX)
      • ChamberAM
      • Not-for-Profit Group (NFP)
    • Annual >
      • Luminary Awards
      • Seniors Showcase
      • PK Excellence
    • Campaigns and Connections >
      • Sales Lead Network
      • 26 Coffees
      • #lovelocalptbokawarthas campaign
    • 26 Coffees Program
  • Membership
    • Join Us
    • Benefits >
      • Chambers Plan
    • Profile and Sponsorships
    • Resources
    • Members Only
  • News
    • Voice of Business Podcast
    • Voice of Business
    • The Business Beat
    • Subscribe to e-Newsletter
  • Resource Hub
  • Directory
  • Advocacy
    • Policy Resolutions
    • Advocacy at Work
    • Advocacy Wins
    • Subscribe to e-Newsletter
  • Breaking News - Tariff Support
    • Updates
    • Resources
    • Support
    • Trade Analytics

Age-friendly and leading edge can go hand in hand

1/11/2018

 
Picture
Earlier this month (December 2017) the Ontario Chamber of Commerce (OCC) hosted a roundtable event examining the issue of our aging population and what it will mean for our  communities and businesses.

It’s a timely discussion given the recent approval of the City and County of Peterborough’s Age Friendly Plan, the continued success of the Chamber’s Seniors Showcase Trade Show in June and the continued efforts of the Peterborough Council on Aging.

Ashley Challinor is the Director of Policy for the OCC and provided us with this overview of the very interesting and thought-provoking discussion.

“The Ministry of Finance presented some fascinating statistics during the session which indicated that Ontario is not only facing slower population growth in the future, but slower growth of the working age population. Currently, immigration represents 78 percent of population growth but given that immigrants tend to settle in urban areas, it means smaller communities are facing a unique challenge related to aging. Overall, the number of seniors in the province is set to double by 2014, which means we have to plan and act now.

One of the themes of the roundtable, laid out by the Minister and echoed by many at the table, was that we need to stop discussing the aging population as exclusively a challenge and exclusively a cost driver. The perception of a growing senior population is currently that of a problem that needs to be solved, rather than an opportunity to be tapped. Similarly, the discussion of seniors needs to broaden beyond health and long-term care needs.

Research conducted by the Ministry of Seniors Affairs indicates that older Ontarians want to continue to give back and continue to be of service after they retire and as they age. This can manifest itself in many ways – volunteering, mentoring, training, seniors caring for other seniors, etc. Not only could we do a better job of encouraging this kind of service, but we could also do a better job of measuring its economic impact.

Another theme that emerged related to the changing nature of work, and how seniors may be able to take advantage of the sharing economy and non-traditional work arrangements. Similarly, seniors tend to be experienced in the kinds of skills that will be in-demand in an automated future: management, critical thinking, negotiation and mediation, caregiving, strategy and planning, communication, and many more.

However, the changing nature of work also means that older business owners may struggle with
succession plans if their children – or any younger persons – are not interested in taking over the business, jeopardizing what they have worked to build and potentially interfering with their retirement plans. Broadly, this is part of the larger discussion of the decoupling of economic growth from the size of the labour force, how future growth will be generated, and who will pay for the needs of an older population that is largely not participating in paid work.

Some questions for consideration:
How can smaller communities survive and thrive as the average age of their residents rises? How can they encourage younger people and immigrants to move to their communities - and with them, new businesses? How can they naturally transition their communities to ones that support seniors, i.e. through initiatives like NORCs (naturally occurring retirement communities)?

Seniors today fear outliving the pension model, but are also interested in working beyond 65 and continuing to contribute well into their later years. How can policy-makers square that circle, linking seniors’ income security and their need for a sense of purpose?

We tend to speak about seniors as a monolith, but the experiences of someone aged 65 differ wildly from someone who is 85. How can we bring nuance to the discussion of older adults, and ensure that younger seniors are not put “on the shelf” prematurely?

While we do not want to only think of an aging population as a cost driver in the health care system, the sustainability of that system and its evolution toward one that can effectively manage chronic disease and long-term care is critical to navigating demographic change. How do we re-orient the system around patient outcomes and measure savings across hospitals, LHINs, and even Ministries to ensure that the government can manage these new demands?

In 2018, the OCC will tackle three major policy projects: on the untapped potential of Ontario’s health and life sciences sector; on building a transportation network for the future; and on managing growth through strategic urbanization and housing policy. All three of these projects intersect with seniors’ issues, and an aging population will have to be considered as we grow the health sector, build new transit options, and design livable communities."

The Peterborough Chamber is extremely interested in being a part of this discussion and policy work and would love to hear from our members and partner organizations to move the conversation forward.
We also look forward to participating in a city and county-wide program to certify local businesses as age-friendly based on certain criteria.

Comments are closed.

    Author

    The Peterborough and the Kawarthas Chamber of Commerce acts as a catalyst to enhance business growth, opportunity, innovation, partnerships and a diverse business community. 

    Archives

    May 2025
    April 2025
    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    September 2015
    August 2015
    June 2015
    May 2015
    April 2015
    January 2015

    Categories

    All

    RSS Feed

Copyright Greater Peterborough Chamber of Commerce.  ​All rights reserved.
175 George Street North, Peterborough, ON, K9J 3G6
Phone: (705) 748-9771  |  (705) 743-2331  
Home    |    Calendar    |   Site Map   |    Privacy    |    Accessibility
Join the Chamber
Picture
MemberClicks