​Heading into a new year with new challenges, it’s a good opportunity to reflect on this last year and see where we can go from here.
 
The Ontario Chamber of Commerce (OCC) released its own report on this topic, titled Supporting Economic Growth in Uncertain Times.
 
What have we learned?
A predictable and stable policy environment underpins business confidence, prosperity and economic growth. This includes economic strategy that raises up those sectors and regions that didn’t fair so well.
 
We’ve learned that we need a more resilient workforce that is inclusive of everyone and all abilities. This includes addressing backlogs and processing delays in immigration that have resulted in a wait list of more than 2.4 million applications.
 
Recent years highlighted decades of underinvestment in strategically important areas, including healthcare and infrastructure.
 
What can the government do now?
Government is the architect of the ‘industrial commons,’ that ecosystem of public goods in which citizens, communities, and businesses can thrive. We need a long-term strategy to invest in common components that are key determinants of growth, including health care, education and training, R&D and innovation, and infrastructure (particularly digital and climate resilient infrastructure).
 
At the same time, government must protect its investments by reducing the barriers to growth – outdated legislation, policy and regulation, an inefficient and overly complex tax system, and obstacles to interprovincial trade and labour mobility.
 
Economic growth should involve clear consultation and two-way communication between government and the private sector. It should not be up to industry to push the government into the future rather, both should be equally invested and united in the pursuit of growth and prosperity.
 
Mainly, the government needs to act in ways that are predictable, accountable, strategic, measurable, outcomes-focused and coordinated.
 
The OCC has identified critical areas that must inform the government’s strategy for economic growth, including:
• Develop policies that support small businesses and Ontario’s entrepreneurial spirit, including enhancing access to capital, developing and scaling training for digital literacy skills, and investing in reliable broadband connectivity.
• Be bold on interprovincial trade and enhance labour mobility between provinces.
• Modernize regulation that supports recovery efforts, including creating an independent panel to regularly run evidence-based evaluation of outcomes and unintended consequences of new regulation.
• Foster an inclusive workforce that leverages Ontario’s diversity and increases our immigration intake. Our government must prioritize economic reconciliation by supporting Indigenous partnerships, procurement, education, employment and entrepreneurship.
• Invest in growth-enabling infrastructure, from roads to housing, that is climate resilient, energy efficient, and informed by smart planning principles to ensure population and economic growth can be supported for decades to come.
• Prioritize innovation through procurement and policy action on technology transfer and adoption, commercialization, and capitalization. The government should encourage data-driven innovation while protecting against the potential risks and support a Canadian intellectual property strategy.
 
If nothing else, we’ve learned a lot in recent years. Next year is going to bring some challenges, but it’s largely rooted in the challenges businesses are currently facing. What we need our governments to do is use that knowledge to create a thorough, sustainable plan that supports our private sector in growing our economy and investing in our communiti

​The tourism industry in Ontario needs a comprehensive strategy that addresses workforce development, regulatory burdens, infrastructure deficits and regional disparities. 
 
That’s the push from the Ontario Chamber of Commerce (OCC) and the Tourism Industry Association of Ontario in their The State of the Ontario Tourism Industry Report released Dec. 13.
 
In November we addressed the executive summary that was released earlier, but the completed report takes a deep dive into the issues holding back the tourism sector and drives home the need for the government to create a thorough strategy for it.
 
Tourism is a vital sector in the provincial economy and is critical for economic recovery.
 
While domestic and inbound tourism improved in the second half of 2022, the industry is not expected to fully recover from the pandemic until 2025. With rising concerns over a looming recession, cost of living and spending habits, the sector requires a path forward that addresses the ongoing impacts of COVID-19 border closures, capacity restrictions, and structural issues.
 
The report highlights some bleak findings, including that 4 in 10 tourism operators forecast profitability in 2024 and beyond, and that tourism businesses have accumulated soaring debt to remain financially viable during the pandemic.
 
While nature-based tourism is having more success compared to its urban counterpart, the rural aspect of it creates more issues with accessing labour. Many tourism employers are in beautiful wilderness areas where nearby housing options are largely waterfront and custom homes, both of which are a bit too pricey for many service sector workers. Attracting people from more suburban locations requires access to a car, which creates barriers in terms of travel time and expenses. With so many service sector businesses hiring closer to where the majority of people live, rural tourism employers need to attract workers who have a passion for the industry and working in the Kawarthas. 
 
Access to a workforce with the skills, experience, and availability needed is one the biggest challenges holding tourism business back right now. Suggestions in the report include:
• Re-conceptualizing how people view tourism careers
• Optimizing work placement opportunities for post-secondary students
• Reforming immigration to retain international students and reliably attract international
workers that meet the needs of the industry
• Consistently promoting job-ready skills in the high school curriculum
• Ensuring that decision-making is data-driven and specific to each locality
and region
 
The report itself lays out a detailed analysis of barriers in the tourism sector with a tangible set of recommendations on each issue. It’s divided into four sections: economy, labour, infrastructure and the future of tourism in Ontario. The key issues and recommendations discussed speak to themes of labour gaps and instability, the uneven pace of economic recovery, red tape, the housing crisis, connectivity, transportation networks, investment attraction, destination development, economic growth, and sustainability.
 
The report concludes that in order for Ontario’s tourism industry to grow, attract investment, and remain resilient, we must address the economic, labour, and infrastructure barriers impeding the full potential of the industry.
 
The beauty of the Kawarthas and opportunities to explore it will continue to draw visitors to our region. Investing in a robust tourism sector with a clear and progressive strategy will help us make the most of what we have to offer, giving visitors a better experience and building stronger local communities.
 
 

​Businesses that adopt technology tend to be more productive, competitive, and resilient.
 
Many businesses have invested considerable time and money into new technology in recent years through necessity and rapidly changing consumer habits, however small businesses are struggling to keep up with larger businesses in the digital world. This is especially true for rural and traditional brick-and-mortar businesses. Larger, urban businesses have more access to the resources, skills, and bandwidth they need.
 
Claudia Dessanti, Senior Manager of Policy at the Ontario Chamber of Commerce (OCC) took the time to thoroughly research the subject with a new report titled Broken Links: Driving Technology Adoption within Ontario’s Small Businesses.
 
The right tools can help businesses improve productivity, improve customer engagement, reach new markets, and grow. In a time when many employers are having to make due with less-than-ideal staffing levels, technology can improve efficiency and allow them to make do with less.
 
Examples of digital technologies commonly used by small businesses include:
• E-commerce websites/platforms
• Digital payments systems
• Cloud computing services
• Search engine optimization
• Project management software
• Inventory management software
• Digital collaboration tools
 
When surveyed by the OCC, small businesses across Ontario identified three main barriers to digital adoption:
• Capital costs required - 51%
• Access to technically skilled workers - 42%
• Broadband connectivity - 35%
 
The Peterborough and the Kawarthas Chamber of Commerce has been pushing to reduce these barriers over the years. We are currently running the local Digital Main Street program which includes free access to local experts on our Digital Service Squad. They are available to help businesses work through their digital challenges and create plans to help get where they want to be. They are also able to help businesses apply for grants, including the Digital Transformation Grant and Canada Digital Adoption Program. For more details on this, reach out to Clarance D’Silva at clarance@acorn30.com.
 
In her report, Dessanti lays out nine key recommendations:
 
Access to Resources:
1. Broaden eligibility for technology adoption programs to include non-profit organizations.
2. Make it easier for small businesses to access digitization supports.
3. Improve access to private capital and credit for small businesses.
 
Access to Skills
4. Develop and scale successful digital training programs for small business owners and employees.
5. Build more inclusive digital training programs.
6. Expand work-integrated learning programs and incentivize smaller employers to participate in them.
 
Broadband
7. Continue to prioritize and accelerate the rollout of broadband across Ontario.
8. Address inefficiencies and barriers to private sector broadband investments.
9. Explore “dig once” strategies, future-proofing of digital infrastructure, and opportunities for better data sharing around broadband gaps.
 
Progress is being made on the broadband portfolio. We recently hosted federal Rural Economic Development Minister Gudie Hutchings for an announcement of $56 million in funding toward local broadband internet projects. The announcement is part of a plan to provide proper high-speed internet to everyone in Ontario by the end of 2025.
 
We have also been active with other chambers and the OCC on issues like “dig once” policies, digital training programs, and funding.
 
As a Chamber, we will keep advocating for supports for business to invest in technology, developing a local workforce with the technology skills we need, and increasing internet access. 
 

​While some businesses are leading our economic recovery and will be well positioned for a potential economic slowdown, others continue to face significant challenges.
 
The Government of Ontario recently released the 2022 Ontario Economic Outlook and Fiscal Review titled Ontario’s Plan to Build: A Progress Update.
 
As a Chamber of Commerce, we support the government’s emphasis on fiscally prudent investments targeted towards businesses and individuals in most need of relief. Directing assistance toward the specific businesses and sectors that most need it will help the government to focus on some key issues Ontario’s economy needs urgent action on, like healthcare.
 
For budget 2023, the Ontario Chamber of Commerce is urging the Province to introduce measures around:
 
Health: Develop a robust strategy to tackle the health human resources crisis (e.g., by leveraging technology and innovative scope of practice and patient care approaches). Implement Ontario’s life sciences strategy. Address the surgical backlog and deferred cancer treatments, diagnostics, procedures, and routine immunizations. Address the mental health action gap (including the opioid overdose crisis). Continue to expand virtual care and digital health. Support the aging population (e.g., through innovative models of care).
 
Housing affordability: Preserve and build affordable housing options along the housing continuum. Safeguard sustainable growth. Plan infrastructure around complete communities. Address regional challenges in housing supply. Attract and retain skilled workers. Streamline the development and permitting process.
 
Transportation and supply chains: Invest in land, air, rail, and marine infrastructure to support the efficient movement of goods and services, reduce gridlock, and protect against extreme weather events and other disruptions. Provide financial support to help small and medium-sized businesses adopt supply chain risk management and diversification strategies.
 
Transit: Support municipalities in filling transit gaps and adjusting transit services based on long-term changes resulting from the pandemic. Address gaps that have resulted from the withdrawal of regional bus service by expanding GO transit, partnering with the private sector, and re-establishing Ontario Northland transit service.
 
Broadband: Work with municipalities, the telecommunications industry, and local distribution companies to urgently address barriers to private sector broadband deployment (e.g., by exploring “dig once” strategies, future-proofing infrastructure, and identifying opportunities for better data sharing).
 
Procurement: Modernize broader public sector procurement to focus on long-term value creation over short-term costs. Introduce more flexibility in contracting arrangements to attract more investments. Help small businesses access procurement opportunities.
 
Energy planning: Adopt a more proactive approach to building transmission and distribution infrastructure. Optimize existing clean energy assets in the procurement and siting of new generation. Integrate low-carbon fuels and electricity solutions within the energy system.
 
Climate adaptation: Implement a climate adaptation strategy and commit to providing communities with adequate and sustained funding for climate resilience. Support the federal Task Force on Flood Insurance and Relocation.
 
Decarbonization: Support cleantech research and innovation at post-secondary institutions. Adopt a bold strategy for low-carbon exports. Support municipalities and businesses with electrification of their fleets. Fast-track investments in electric vehicle charging infrastructure.
 
Energy efficiency: Expand conservation and demand-side management programs that help reduce energy costs and consumption for households and businesses, with a focus on small businesses.
 
Small businesses: Help small business owners with succession planning as they age out of the workforce. Expand and scale small business digitization programs.
 
Municipal fiscal capacity: Commission an independent review of municipal responsibilities to assess which order of government is best placed to manage them. Undertake a comprehensive review of the province’s property tax system. Commit to funding all municipal services in which the Province controls some aspect of the operation (i.e. the pay-for-say principle).
 
Economic reconciliation: Support Indigenous partnerships, procurement, education, employment, and entrepreneurship by building on the innovative Three Fires Nations‐Ontario Southwestern Ontario Infrastructure and Economic Opportunities Table.
 
Cannabis: Provide a comprehensive update on the implementation of the recommendations in the Auditor General’s 2021 value-for-money report on the Ontario Cannabis Retail Corporation. Allow licence holders and retailers to enter into direct commercial relationships with each other to negotiate their own product mixes, prices and delivery terms.
 
Mining: Work with industry and Indigenous communities to develop critical mineral supply chains in Ontario. Further, streamline mining regulations. Increase the Ontario Flow-Through Tax Credit.
 
We’ve been through a lot of unprecedented situations and there’s no playbook for the path ahead. We’re on the road to recovery from a world-wide pandemic while heading into a possible global recession. What we need from Ontario’s government is a clear and predictable path towards long-term growth, productivity, resilience, and competitiveness.
 

​Heading into another period of economic uncertainty, the Government of Ontario recently released the 2022 Ontario Economic Outlook and Fiscal Review titled Ontario’s Plan to Build: A Progress Update.
 
As per the Ontario Chamber of Commerce (OCC), Ontario’s economic outlook remains uncertain against a backdrop of higher interest rates, inflation, labour shortages, and supply chain disruptions.
 
The OCC provided a thorough analysis of the economic update. Here are some key highlights for the business community:
 
Small Businesses
The government announced plans to:

• Propose $185 million over the next three years in income tax relief for small businesses by expanding the small business Corporate Income Tax (CIT) rate. The new upper end of the phase-out range would be $50 million of taxable income (previously $15 million).
• Automatically match property tax reductions for all municipalities that adopt the small business subclass.

OCC analysis: As small businesses grapple with inflation and economic uncertainty, support from the Province will help protect the sector from further closures and ensure they can continue to grow. Additional tax relief through the CIT is welcome as it will make scaling more cost-effective for businesses. Further, the matching of the small business property tax subclass should help incentivize more municipalities to roll out the program outside Toronto and Ottawa.
 
Other Business Tax Measures
The government announced plans to:

• Provide $675 million over three years to temporarily allow eligible businesses to expense up to $1.5 million per year for certain capital expenses.
• Propose to expand eligibility for Ontario’s film and television tax credits to professional productions distributed exclusively online, and expand eligible expenses for the Production Services Tax Credit to include location fees.

OCC analysis: The proposed tax measures will encourage further business investment in Ontario, including in the tourism industry as it struggles to recover from the pandemic. We encourage the government to work with stakeholders on aligning further tax incentives around key opportunities for business investment in Ontario, such as zero-emission vehicles, clean energy, and mining.
 
Workforce Development
The government announced plans to:

• Provide an additional $30 million to the Skills Development Fund, prioritizing training programs that support people facing barriers to employment such as people with disabilities and Indigenous people. Funding will also support priority housing and infrastructure projects across the province.
• Provide an additional $4.8 million over two years to expand the Dual Credit program to encourage more secondary students to take apprenticeship and technological education courses, as well as attract more students into the Early Childhood Educator career pathway.
• Add additional services to the one‐window digital portal, launched in partnership with Skilled Trades Ontario.

OCC analysis: Widespread labour shortages coupled with ambitious provincial housing and infrastructure targets will require significant action toward workforce development, recruitment, and retention strategies. The OCC welcomes ongoing efforts to address gaps in the skilled trades and early childhood education, alongside opportunities to support greater workforce diversity and inclusion. While the Province continues to work with the federal government to increase Ontario’s allocation of skilled immigrants to meet the demand for labour across sectors (including health care), policymakers need to take further action to address skills mismatches and future workforce needs. This could include working with employers and post-secondary institutions to identify and promote in-demand skills and career opportunities, providing support for reskilling, upskilling, and micro-credentials, leveraging technology and bridging the digital divide.
 
Red Tape
The government announced plans to:

• Refocus its red tape reduction efforts towards attracting investment and job creation. This includes clearing provincial supply chain delays, accelerating industrial land approvals and permitting, supporting Ontario’s agri-food system, and removing interprovincial trade barriers.
• Establish consultation groups with representatives from key industries to support these efforts.

OCC analysis: Regulatory modernization is one of the most cost-effective tools to boost economic productivity. We are encouraged to see the government signal a renewed focus on high-impact barriers such as permitting and interprovincial trade barriers, which are currently deterring investment in Ontario. Consultation with a broad range of relevant stakeholders will be critical to the success of these reforms.
 
Cost of Living
The government announced plans to:

• Propose to extend gas and fuel tax rate reductions so that the tax rates would remain at 9 cents per litre until December 31, 2023.
• Propose to double the Guaranteed Annual Income System (GAINS) payment for all recipients (low-income seniors) for 12 months starting in January 2023.
• Increase the monthly earnings exemption from $200 to $1000 per month for Ontario Disability Support Program (ODSP) recipients. For each dollar earned above $1,000, the ODSP recipient would also keep 25 cents of income support.

OCC analysis: Record inflation and ongoing affordability challenges continue to impact Ontarians, disproportionately affecting marginalized groups. The OCC welcomes efforts to mitigate those costs in the short-term with targeted support for the hardest hit populations, and encourages the Province to explore additional opportunities to improve the cost of living, including by reinstating the Basic Income Pilot Program to assess program costs and benefits for Ontarians. The OCC and our members also look forward to providing feedback on the development of a provincial portable benefits program, as well as forthcoming consultations related to a target benefit pension plan framework for Ontario.
 
Next week we’ll look at what’s missing from the Ontario Economic Outlook and Fiscal Review and look at what will help create a clear and predictable path towards long-term growth, productivity, resilience, and competitiveness.

​Forecasting our economic future is challenging to say the least.
 
Economists are using phrases like “there’s no playbook for this.” It’s tough to find data on how global economies will react after going through years of global pandemic, a war in Europe, and record inflation that governments are trying to cool through measures that will likely lead to recession.
 
What we do know is that many of our current challenges aren’t going away in the short term and new struggles will likely arise in months to come.
 
On that note, the federal government’s Fall Economic Statement was heavy on supports and vision for building toward future goals.
 
You can read the full Fall Economic Statement here, but some key takeaways for the business community include:
 
Net-Zero
The Government of Canada is making it clear that our future lies in investments in reaching net-zero. This includes training the workforce for sustainable jobs, attracting private sector investment to projects that reduce emissions and drive innovation in technologies that help achieve Canada’s climate targets, investing in clean technology manufacturing, and building our critical mineral strategy to grow our economic with sustainably developed clean technologies and goods.
 
Additionally, the federal government plans to roll out a tax credit for investment in clean technology. This refundable tax credit of 30% would offset costs for investing environmentally-friendly electricity generation, storage, heating equipment, industrial zero-emission vehicles.
 
Transportation
The government is taking action the National Supply Chain Task Force’s recommendations, including addressing regulatory issues to improve efficiency and resiliency of our supply chains, modernizing cargo and clearance inspection practices, improving data reporting and monitoring, and investing in improving access to our international gateways.
 
Innovation
The government plans to launch a Canadian Innovation and Investment agency to work to help new and
established Canadian firms innovate, commercialize research, and create new economic opportunities for workers and businesses in Canada. The government is also planning to modernize the National Research Council’s scientific infrastructure and help continue to propel Canadian innovation.
 
Infrastructure
Investing in Canada Infrastructure Program is providing $33.5 billion for public infrastructure across Canada. Under this program, provinces and territories prioritize and submit projects to Infrastructure Canada for review.
 
Immigration
The federal government is looking to boost immigration to 500,000 immigrants in 2025 with a focus on skilled labour sectors that are struggling with workforce shortages, including healthcare, manufacturing, and the building trades.
 
Taxation
The government is looking to create a Scientific Research and Experimental Development tax incentive program, introduce a corporate-level 2% tax that would apply on the net value of all types of share buybacks by public corporations in Canada, and reaffirmed its commitment to the global minimum tax on large corporations.
 
The quarterly economic statements are a tool to highlight the previous budget allocations in more detail while hinting at what is to come in the next year’s budget.
 
For the upcoming 2023 federal budget, the Ontario Chamber of Commerce has set out some priorities for the federal government:
• Increase Ontario’s allocation of economic immigrants under the Ontario Immigrant Nominee Program, address the backlog of immigrants, and streamline recognition of foreign credentialing for sectors with pressing labour shortages.
• Invest in supply chain infrastructure to address bottlenecks along the supply chain, especially at ports.
• Protect Canada’s clean energy advantage by optimizing existing assets – such as nuclear and hydroelectricity – as well as incentivizing long-term investments in emerging technologies such as carbon capture and zero-emission vehicles.
• Modernize regulatory frameworks to enable growth in industries like mining and cannabis.
• Prioritize working with provinces and territories to remove barriers to interprovincial labour mobility and trade.
• Increase Canada Health Transfer Payments to meet the current and future pressures facing Canada’s universal health care system.
• Reform the federal tax system to attract foreign direct investment, drive domestic business growth and innovation.
 
It’s hard to predict what exactly will unfold in coming months. Whether we’re in recession, recovery, or growth — investing in the private sector is crucial to our success in moving toward goals of reducing greenhouse gas emissions and generating economic prosperity across Canada.
 

​When it comes to investing in our businesses, some areas are easier to convert to dollars and cents return on investment.
 
In a time when many businesses are struggling to attract talent, it’s critical that we invest in the workforce we have. According to JobSage, 28% of surveyed workers left their jobs due to poor mental health.
 
According to a report from the Canadian Mental Health Association (CMHA), it’s estimated that 12 billion worked days are lost every year to depression and anxiety, costing about $1 trillion US in lost productivity.
 
According to Occupational Health and Safety Canada Magazine, mental health services cost Canada $50 billion annually, with $20 billion stemming directly from workplace trauma. Deloitte found poor mental health accounts for 30 – 40% of short-term disability claims and 30% of long-term disability claims.
 
Poor work environments, including discrimination, inequality, excessive workloads, low job control and job insecurity all pose risks to mental health. This all comes on top of stresses from home and more than two years of dealing with a global pandemic.
 
While mental health struggles happen outside of the work environment, the nature of our place of work being where many of us spend more waking hours than anywhere else means that whether or not the workplace is contributing to the situation, it certainly plays a role in how someone is able to deal with it.
 
According to the Mental Health Commission of Canada:
Workplaces can play an essential part in maintaining positive mental health. They can give people the opportunity to feel productive and be a strong contributor to employee wellbeing. Yet it can also be a stressful environment that contributes to the rise of mental health problems and illnesses. No workplace is immune from these risks and we cannot afford to limit our definition of occupational health and safety to only the physical.
 
The CMHA offers a number of workplace mental health solutions for employers across Canada:
 
Not Myself Today: Through this employee wellness platform, employees can access helpful tips, learning modules and other resources to improve their mental health at work. The platform helps to build an open and supportive workplace by cultivating meaningful conversations and deeper understanding about mental health and wellness in the workplace.
 
Customized Training: CMHA offers in-person or virtual workshops based on the needs and interests of your employees. From building resilience and managing stress, to returning to work and coping with change, their facilitators can work with you to deliver the right workplace mental health training for your team.
 
Psychological Health & Safety Courses: Psychological Health & Safety training is designed for individuals who are working to improve psychological health and safety in their workplaces and/or to implement the National Standard of Canada for Psychological Health and Safety in the Workplace.
 
It’s often easier to see the direct results of investing in skills, training and the physical health of our workforce. But mental health is too big of a deal not to invest in. These investments can lower turnover, increase productivity, and reduce absenteeism. A mentally healthy workplace is not just going to show up, but be there ready to engage, innovate, and help a business thrive.
 
 
 

​As our economy shifts into recovery mode, so have the funding lifelines
 
We’ve moved from emergency funding to get through shutdowns to investing in what our businesses need to deal with current challenges and position them for the future.
 
Here is a brief rundown of some of the programs available:
 
Talent Opportunities Program (Up to $7,000)
Are you an employer hiring post-secondary students on work-integrated learning (WIL) placements, such as cooperative education and internships? If so, you may be eligible for a wage subsidy of up to $7,000 per student!
 
The Talent Opportunities Program (TOP) is an initiative of the Ontario Chamber of Commerce designed to help employers located anywhere in Canada hire college and university students on WIL placements. Employers hiring eligible students may receive a wage subsidy up to 50% of the wages (to a maximum of $5,000) for each ‘net new’ placement or 70% of the wages (to a maximum of $7,000) for each ‘net new’ placement for the following under-represented groups: Indigenous people, person with disabilities, newcomer to Canada, first year student, visible minority and/or women in STEM.
 
https://occ.ca/talent-opportunities-program/
 
Grow Your Business Online Grant (Up to $2,400)
As part of the Canada Digital Adoption Program, the Government of Canada has partnered with the Ontario Chamber of Commerce to deliver the Grow Your Business Online grant.
 
Through this program, small business owners can receive a micro-grant worth up to $2,400 to help get their business online, give their e-commerce presence a boost, or digitalize business operations. Grant recipients must commit to maintaining their digital adoption strategy for at least six months.
 
https://occ.ca/growyourbusinessonline/
 
Boost Your Business Technology (Up to $15,000 + 0% loan)
Eligible businesses can leverage the grant to pay for the services of a digital advisor. These advisors will work with companies to recommend digital pathways and strategies that will help them achieve their business goals and increase their competitiveness in the digital economy.
 
The grant covers up to 90% of the eligible cost of retaining the services of a digital advisor, up to a maximum grant value of $15,000 per SME, to develop a digital adoption plan.
 
Businesses also have the opportunity to secure a 0% interest loan from the Business Development Bank of Canada (BDC) to facilitate the acquisition of new technology. In addition, applicants can leverage the help of talented post-secondary students and recent graduates through subsidized work placements.
 
https://ised-isde.canada.ca/site/canada-digital-adoption-program/en/boost-your-business-technology
 
Canada-Ontario Job Grant (Up to $10,000)
The Canada-Ontario Job Grant provides direct financial support to individual employers or employer consortia who wish to purchase training for their employees. It is available to small, medium and large businesses with a plan to deliver short-term training to existing and new employees.
 
Businesses can get some assistance from local employment organizations.
 
https://www.tcu.gov.on.ca/eng/eopg/cojg/
 
Digital Main Street (Up to $2,500 + free training)
Peterborough and the Kawarthas Chamber of Commerce has partnered with acorn30 to provide local businesses with a Digital Main Street Digital Service Squad. Squad members are available for free one-on-one assistance to small businesses to assess their digital needs and create plans to meet digital goals. The squad can also help businesses apply for a $2,500 Digital Transformation Grant to put toward digital marketing, website work, software, training, and hardware.
 
For more info, contact Clarance D'Silva clarance@acorn30.com or visit https://digitalmainstreet.ca/ontariogrants/
 
Government of Canada Business Benefits Finder
The Government of Canada now has a business benefits finder to help businesses find the right programs and services, whether you’re starting out or scaling up. Enter some details about your business and it will pull up all the available federal programs.
https://innovation.ised-isde.canada.ca/s/?language=en_CA
 
Available funding opportunities from the Ontario Government
The Government of Ontario has a single-point access page listing current business support programs for various sectors, skills, and workforce investments.
https://www.ontario.ca/page/available-funding-opportunities-ontario-government
 
Community Futures Peterborough (Micro Loans up to $20,000, Small Business Loans up to $250,000)
Community Futures Peterborough offers a range of supports for small businesses, including counselling, training, and loans.
https://communityfuturespeterborough.ca/financing-services/
 
This is by no means an exhaustive list. As a Chamber, our role involves helping businesses overcome barriers. Sometimes this involves sorting out bureaucracy and cutting red tape. Other times it involves advocating for funding to help specific sectors get the boost they need to ensure they aren’t being left behind. Our region needs businesses of all sizes and sectors thriving for an effective and efficient economic recovery.

​Canada’s employment situation remains fickle.
 
We’ve added more jobs and the unemployment rate has declined, but people are working fewer hours and the overall labour shortage still sits at more than 1 million unfilled jobs.
 
According to Canadian Chamber of Commerce Chief Economist Stephen Tapp:
 
“At first glance, it looked like we finally received good news from Canada’s Labour Force Survey for September: after three months of declines, employment was up by 21,000 jobs, while the unemployment rate dropped back to 5.2% after unexpectedly spiking to 5.4% last month. Digging beneath the headlines, however, shows emerging signs of an underlying “cooling-off” period. First, hours worked are down over 1% since June. Second, labour force participation has sagged over the course of this year, and third, it’s the public-sector, not the private sector, that continues to push up employment. That said, Canada’s labour market remains historically tight. It’s remains difficult for businesses to fill the nearly one million vacant positions they’re seeking. And, though, wage growth exceeded 5% for the fourth month in a row, this still isn’t enough to boost workers’ purchasing power, as it’s below the highest rates of inflation seen in a generation.”
 
Overall, the public sector added 35,000 jobs, compared to 9,000 from the private sector while self-employment dropped by 22,000. The increase in employment is being driven by education and healthcare at 46,000 and 24,000, respectively. This offset declines from manufacturing (-28,000); information, culture and creation (-22,000); transportation and warehousing (-18,000), and public administration (-12,000).
 
Wage growth is being led by professional services, up 9.1% year-over-year, followed by accommodation and food service at +8.7% over last year. On average, wages are up 5.2% over last year.
 
Adding further pressure to workforce challenges is the trend toward retirements shows no signs of slowing, with 1 million of the 5.2 million Canadians aged 55 -64 already retired.
 
Overall, Ontario and PEI are the only provinces seeing a decline in employment.
 
Locally, jobs in demand largely hit sectors that have struggled heavily over the last two years, especially the service industry. According to the Workforce Development Board, the top 10 local job postings are for:
1. Retail salespersons
2. Food counter attendants, kitchen helpers & related support occupations
3. University professors and lecturers
4. Home support workers, housekeepers & related occupations
5. Other customer & information services representatives
6. Retail & wholesale trade managers
7. Cooks
8. Social and community service workers
9. Post-secondary teaching & research assistants
10. Light duty cleaners
 
Employment data will continue to fluctuate, as it always has. But it reveals the harsh reality that some sectors are rebounding well while others are going to continue to struggle. Those who regularly had to cut staffing levels due to public health restrictions are struggling to hire enough staff despite being leaders in increasing wages. There is no large pool of workers waiting to return and fill the vacancies across the country. It’s going to take creativity, investment, and vision for local businesses to modernize, automate, and adjust how they operate to make do with less access to labour.