Your weekly round up of BizNews from throughout Greater Victoria!
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Check out all the great photos from last month's 5 Chamber Mixer, which brought together businesses from the Esquimalt, Greater Victoria, Saanich Peninsula, Sooke Region and WestShore chambers. Chamber gatherings are always popular, so be sure to register early for all the great Chamber events coming up! | |
Thankful for good business, great community | |
Whether you’re looking to cook your own Thanksgiving meal, or prefer someone else do the work, Thanksgiving is the perfect time to enjoy great food and spend quality time with the people you love.
Take time this long-weekend to check out some of the exciting activities and venues across Greater Victoria. If you’re looking to unwind while staying close to home, or need a place for the in-laws to stay, check out the beautiful hotels Greater Victoria has to offer.
As the weather begins to cool, now is a great time to consider supporting one of Greater Victoria's local non-profits.
The Chamber would like to wish you and your family a happy Thanksgiving!
The Chamber office will be closed Monday, Oct. 9.
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Greater Victoria named best small city in the world | |
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Greater Victoria has risen to the top of Conde Nast's annual ranking of the Best Small Cities on the planet. More than 520,000 people took part in the readers' choice awards.
Our region came close last year, placing second on the list, but this year we are at the top thanks to our proximity to Vancouver and "one of the world’s most scenic ferry rides."
The international travel magazine point out the "bucket list-worthy Fairmont Empress," and our reputation as the "most British town in Canada." Other factors were the fact our ancient rainforests are so accessible, as are many easy day trips on the Island.
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Fairmont Empress: Member since 1913
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Bank of Canada says pricing norms are 'unstuck' | |
How much is too much when it comes to adjusting price points to ensure your business stays sustainable? In a speech yesterday to the Montreal Chamber of Commerce, the Bank of Canada said changes to how prices are set has become a risk for inflation.
"In ordinary times, prices are sticky. Companies typically don’t adjust prices often, even if input costs change or consumer demands shift. Why not? Because it can be expensive to change prices," Bank of Canada Deputy Governor Nicolas Vincent said, citing steps in a typical process to analyze competitive risks. "But during the recovery from the pandemic, firms were faced with fast-rising input costs and they saw that consumers had less choice because supply was low everywhere. This allowed them to pass those changes on to consumers more quickly and more fully than usual."
The Bank, which is scheduled to make its next interest rate announcement on Oct. 23, said it's concerned that rising prices are now seen as normal.
"If stores expect their suppliers and competitors to change prices more frequently, and consumers are willing to continue paying higher prices rather than shopping around, then it creates a feedback loop," the Bank said. "This could make prices more sensitive to shocks, making it more difficult to get inflation back to our 2% target."
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Climate Action Leadership needed to prepare for risks | |
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The Chamber advocates for Climate Action Leadership as businesses adapt and respond to changing expectations for seasonal weather events. Updated provincial legislation will help modernize the ability of businesses and their communities to better respond to emergencies and disasters.
British Columbia's new Emergency and Disaster Management Act will replace the Emergency Program Act, which is almost 30 years old.
"Including Indigenous knowledge — by developing regulations in consultation with First Nations — is important and something The Chamber fully supports as work toward a sustainable future," Chamber CEO Bruce Williams said. "The climate has changed and we will continue to experience extreme weather events every year. This, of course, goes beyond borders and even local planning needs to consider the global context."
The changes align with the international agreement to protect communities from climate events. For more , go to the United Nations Office for Disaster Risk Reduction.
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BC Ferries rate hike capped at 3.2% until 2028 | |
Rising costs and finding and keeping staff are two of the biggest challenges facing employers. Yesterday, BC Ferries was told it could only increase fare prices by 3.2% annually between April 1, 2024 and March 31, 2028. The increase had been forecast at 9.2% but was reduced because of a $500 million provincial government subsidy.
The ferry corporation — part of the foundation of Vancouver Island's economy — was also told yesterday that the province will begin levying fines for missed sailings on select routes. The penalties will apply when core services are cancelled — $7,000 if a major route and $1,000 if a minor route. Many of the details have yet to be announced.
Over the summer, ferry cancellations made headlines and frustrated travellers as mechanical issues and a lack of available staff affected numerous sailings.
"BC Ferries provides a vital connection between the Mainland and the Island, so we do need certainty that sailings will happen as scheduled," Chamber CEO Bruce Williams said. "But perhaps there are regulatory changes or innovative solutions that can be made to modernize staffing requirements while maintaining public safety as the priority."
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BC Ferries: Chamber Champion | Member since 1983
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Chamber Chats with CEO Bruce Williams | |
Addressing racism by understanding cultural diversity | | |
Kulea Culture Society: Member since 2023 | |
The Kulea Culture Society works to engage us all in a cultural understanding of the diversity that makes our region stronger. In this Chamber Chat, CEO Bruce Williams speaks with Kulea team members about the Colourful Business Expo, their Kitchen and Culture cooking classes, their programs to address racism and more. | Meet with their local experts for solutions as unique as your business. | |
Greater Victoria Business Awards 2024 | |
Nominate a deserving business for: Innovation Award | |
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The Innovation Award honours a business that has developed innovative business practices and/or continues to evolve products, services and processes to respond to a changing business environment and meet a community need. The business exemplifies inclusivity and adaptability.
Sponsored by: University of Victoria, Peter B. Gustavson School of Business
| If you have any questions, don't hesitate to reach out to Hanna at [email protected] | |
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The Chamber Auction - November 5-12
Showcase your product or service
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It's back! We are excited to announce the return of our Annual Auction, taking place Nov. 5 - 12.
Last year, we received thousands of visits to our auction platform for an action-packed week of bidding on fabulous gifts and memorable experiences. Take a look at some of the great items being featured this year below!
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Westcom Business Solutions
Westcom Business Solutions client-first approach and innovative solutions can help you manage all your tech-frustrations and help you find the best-suited IT infrastructure for your business. With this certificate, you'll receive four hours of their expert IT services.
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Magnolia Hotel & Spa
With this gift certificate, you and a guest will enjoy a romantic night out in the heart of Downtown Victoria, courtesy of the Magnolia Hotel & Spa! This package includes a one-night stay in a diamond room with a gas fireplace and a bottle of sparkling wine chilled upon your arrival. Finish the night off with a $150 dining credit to The Courtney Room.
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Luv-A-Rug Services
Fall in love with your rugs all over again with a gift certificate for restorative rug washing or repair from Luv-A-Rug Services! Luv-a-Rug’s expert cleaning and repair will have your rugs looking brand new.
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Market on Yates
On the hunt for a great place to buy your groceries? With two locations, shop for all your grocery needs at the Market on Yates or the Market On Millstream with this gift card courtesy of the Market Stores!
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Do you want your products and services featured in the auction?
From gift cards to great local items and everything in-between, reach hundreds of potential customers by donating a prize today.
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Chamber Member Events
Want to know what events are happening in the community? Check out The Chamber's Community Calendar to stay up to date with plays, seminars, grand openings and more. Are you a member? Post your own events for free.
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Member News @VictoriaChamber | |
Click the image to read and share the Member News story on Instagram | |
Chamber Job Board an exclusive member benefit | |
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As an exclusive member benefit, use the code INTRO2023 at checkout to receive a free 30-day listing on The Chamber’s job board.
If you have any questions or need help uploading your job, email The Chamber at [email protected].
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Member to Member Discounts | | |
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250-383-7191
victoriachamber.ca
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