November 22, 2023

Your weekly round up of BizNews from throughout Greater Victoria!

Chamber Events, such as November's Business Mixer (photos) with BCLC at Elements Casino, are a popular way to make connections and build business relationships. Did you know our events are open to all employees of Chamber member businesses? Come join us!

Feds 'pump brakes while hitting gas' in fall statement

The federal government's much-anticipated fall economic statement was released yesterday, Nov. 21. There were few surprises from a government that has little room left to spend and a tepid economic environment to work with.

"(The federal government) followed a highly stimulative fiscal framework following the pandemic, from which they had not significantly withdrawn as the economy hit its capacity in the past two years. That forced the Bank of Canada to apply even more restrictive monetary policy to offset the effects of the government’s stimulative impulses, akin to pushing the brake and gas pedals at the same time," the Conference Board of Canada said in its analysis. "Let us hope that the two policymaking bodies can begin to row in the same direction in the future as inflation pressures subside. Interest rates will likely be coming down next year, but negative federal fiscal balances also need to be pushed back toward neutral territory at a greater pace."

There are some positives for business as the statement included proposals to ensure open access to markets, fewer taxes on mental health support and relief for mortgage holders at risk from higher interest rates. The government also earmarked $15 billion for rental home construction, though there are no details on how the funds will deliver 30,000 new units as promised.

Consultations have begun on the 2024 federal budget and The Chamber will work with our national network to give members a voice in the process.

Watch the Finance Minister's speech on Fall Statement

Upcoming Events

2024 Business Awards - Nominate Today!

Wisdom for Family Enterprises - Dinner with David Bentall - at capacity

2024 Business Awards Nomination & Application Webinar

Chair's Holiday Reception - waitlist

Joint Mixer with Destination Greater Victoria

Membership 101 - Virtual

Check our Events Calendar for updates.

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CPI shows inflation continuing to normalize

Watching inflation numbers is a bit like going fishing. Anticipation builds as we approach the latest monthly update on the Consumer Price Index from Statistics Canada. And much like the feeling when you lower your rod into the water, even a subtle sign can feel exciting. The latest nibble to delight inflation watchers happened Tuesday as CPI came in at 3.1% for October. That marks a significant deceleration from 3.8% in September.

Lower gas prices helped lower inflation last month, while mortgage costs and food prices are keeping it higher than the Bank of Canada's target rate of 2%. The Bank makes its next interest rate announcement on Dec. 6, with expectations that it will hold steady before potentially starting to lower rates next spring.

Province announces plan for South Asian museum

The provincial government is seeking feedback for a new museum that will share the history, culture and contributions of British Columbians with South Asian heritages.

“Public input, especially from South Asian communities, is vital to moving forward on this first-of-its-kind museum,” BC's Minister of Tourism, Arts, Culture and Sport Lana Popham said in a news release.

Community-designed workshops and an online public survey will begin in early 2024.

The South Asian business community has deep roots in Greater Victoria and today more than 10,000 people in our region identify as having South Asian origins. Check out The Chamber's 1863 Project, and provide feedback to the province about the planned South Asian museum at

Property crime rebate program now open

Businesses can begin applying for the $10.5-million Securing Small Business Rebate Program as of Nov. 22.

Eligible organization can receive up to $2,000 for the cost of repairs due to vandalism, and up to $1,000 for prevention measures such as security cameras or gates.

Applications are retroactive to Jan. 1, 2023, to help businesses recoup costs incurred this year.

Small Business Rebate
Chamber Chats with CEO Bruce Williams

The state of the construction industry in Greater Victoria

Chamber Chats

Western Design + Build: Member since 2013

Lida Construction: Member since 2019

Construction, building and design are robust across our region and have been for many years. What is trending? What is the impact of high-interest rates and inflation? Is it better to build or to renovate? These issues and more are discussed in this Chamber Chat as CEO Bruce Williams speaks with Ann Squires Ferguson of Western Design + Build along with Dave Stephens of Lida Construction.

Special thanks to our series sponsor: Island Savings

Meet with their local experts for solutions as unique as your business.

Greater Victoria Business Awards 2024

Nominate a deserving business today!

Each week, The Chamber will profile one of the 14 different award categories, encouraging members to nominate a deserving Chamber member.

The Business Person of the Year Award honours a business person who:

  • is the founder, CEO, President, or Senior Executive of a company who exhibits business leadership and vision;
  • displays a significant commitment to the success of both their business and the region as a whole;
  • serves as a positive role model or mentor for other business people;
  • and exemplifies professional behaviour maintaining an upstanding reputation in the business community and region as a whole.

Sponsored by:

If you have any questions, don't hesitate to reach out to Hanna at [email protected]

Nominate Today

Need some inspiration?

Check out the videos of the 2023 Business Person of the Year finalists below. Thanks to Canadian Tire Hillside, who is our sponsor for this award in 2024.

Winner: Dave Stephens from LIDA Construction

Finalist: Brenda Ollis from Chateau Victoria Hotel & Suites

Award Categories

Upcoming Events

Member News @VictoriaChamber

Click the image to read and share the Member News story on Instagram

Hotel Grand Pacific:

Member since 1966

District of Saanich

Member since 2019

LIDA Construction:

Member since 2019

Greater Victoria Festival Society: Member since 2016

Share your good news so we can share with other members! 

Chamber Job Board an exclusive member benefit

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].

Chamber Job Board 

Community Relations Assistant – Berwick Retirement Communities

Financial Analyst – TELUS Business

Client Advisor, Motorcycle Insurance – Acera

Community Health Worker / Care Aide – Pacific Coast Health Services

Executive Director – Oak Bay Volunteer Services Society

Local Marketing & Community Investment Manager – First West Credit Union 

Member to Member Discounts

Moe's Home Victoria - 20% Off Regular Priced Items

Monk Office + Art - 15% Off Monk Office & Art Supplies

Pendray Inn & Tea House - 5% OFF our Holiday Events Package

Resthouse Sleep - 10% off all regularly priced items at Resthouse

Rogers Media - Jack 103.1 & Ocean 98.5 - Special Ad Rates for On-Air or Digital Advertising!

View all Member to Member discounts

Members can post Coupons and Discounts free

Welcome to our Newest Members! 

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