Your weekly round up of BizNews from throughout Greater Victoria!
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Interest rate rises as Bank seeks balanced economy
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Inflation has declined from 8.1% to 6.9%, though it's still well above the target of 2-3%.
"The Bank expects CPI inflation to ease as higher interest rates help rebalance demand and supply, price pressures from global supply disruptions fade, and the past effects of higher commodity prices dissipate," states today's news release. "CPI inflation is projected to move down to about 3% by the end of 2023, and then return to the 2% target by the end of 2024."
Another increase to interest rates is expected on Dec. 7, but will depend on how much demand has slowed, and how well improving supply chains are able to keep up.
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Premier-in-waiting promises '100 days of action'
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David Eby will be the next Premier after being formally named leader of the BC NDP. The transition from Premier John Horgan is expected to take place mid-November, and Eby has already said he intends to bring in a budget that will allow quick action on housing affordability, the climate and healthcare.
The Chamber looks forward to continuing to work with the provincial government on key issues affecting Greater Victoria. We're also calling on the province for better budget transparency, especially if new spending is planned. Last month, BC's Auditor General Michael Pickup raised concerns about the province's accounting methods.
“Each year, my office is mandated to report whether government’s financial statements are fairly stated in accordance with generally accepted accounting principles,” Pickup is reported to have said. “My job is to report what I see (and) give the opinion that I believe. So I think these things should be corrected.”
Chamber members have an opportunity to hear directly from BC's AG next month. Details below.
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Business Leaders Luncheon:
A Conversation with BC's Auditor General
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We live in an era of information overload, with many people getting their news from outlets that tell people what they want to hear rather than how it is.
Who is the independent voice that is mandated to provide information to B.C.'s elected members and to report on government finances and program performance? It's the Auditor General of B.C.
Join us as we speak with Michael Pickup and share your questions, concerns, and business priorities to help inform and shape the future work of the Office of the Auditor General.
At this luncheon you will learn about how this vital office is adapting to our changing world and embracing flexible, hybrid approaches to work, as they contribute to greater government effectiveness and accountability.
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Thurs., Nov. 10 | 11:30 AM - 1 PM
Hotel Grand Pacific, 463 Belleville St.
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Chamber facilitates discussion on health solutions
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Recent media reports about break-ins that seem to be targeting specific types of business are renewing calls for solutions to downtown crime.
Of course, the situation is complex. The toxic drug crisis continues to cause damage throughout society, and, particularly, with people involved in street life who are at risk of homelessness. Addictions, as well as mental health challenges, are often at the root of criminal behaviour that makes the news. Any solutions need to intersect with the healthcare system, which is why organizations such as Island Health are critical to have onboard.
On Tuesday, The Chamber and Island Health hosted a gathering of about 40 people at the University Club at the University of Victoria. The discussion focused on how businesses and non-profit organizations can wok with Island Health to develop innovative solutions to complex problems around mental health and addiction. Other topics included work being done to attract and retain more doctors, support workplace mental health and streamline health care delivery.
It was a good opportunity to combine the nimbleness and creativity of the private sector with the resources and gravitas of the public health authority. The spirited discussion resulted in a number of ideas that The Chamber and our members will continue to follow up on in the months ahead.
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Island Health: Member since 2020
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University of Victoria: Member since 1976
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University of Victoria: Chamber Champion since 2020
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Federal Minister of Housing and Diversity and Inclusion, Ahmed Hussen, fourth from left, stands next to Chamber CEO Bruce Williams and members of chambers from across Canada.
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Gathering of business voices at national AGM
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There is tremendous power in a coalition of organizations from every corner of the country that have an active role in connecting businesses with all levels of government. This was in full display earlier this month as the national chamber network gathered in Ottawa for the Canadian Chamber of Commerce's AGM.
"It really was remarkable to be among the voices of business communities from across Canada and hear how many of our concerns and challenges are shared," Chamber CEO Bruce Williams said of being a delegate at the meeting. "We were able to meet directly with a number of federal ministers and senior staff, who were quite keen to better understand what policies are needed to help businesses build resiliency."
Williams also introduced a policy resolution at the AGM, highlighting the need for federal support of child care to enable parents to stay in the workforce and continue their careers. The resolution was adopted, along with a number of others supported by The Chamber that further our Advocacy Priorities.
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Watch the 2022 Business Hall of Fame Broadcast
We enjoyed a fabulous evening of celebration, inspiration and connection at the inaugural Business Hall of Fame on Oct. 5.
The evening was recently broadcast on CHEK TV, where it attracted a viewing audience of 49,000!
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2023 Business Awards nominations are now open!
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The New Business Award honours a new business (3 years or less) that has:
- achieved outstanding business performance in a short period of time;
- demonstrates exceptional promise for continued growth;
- serves as an inspiration for other new businesses;
- and displays a commitment to the community.
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Nominations close: January 18, 2023
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Need some inspiration?
Check out the videos of the 2022 New Business finalists below. Thanks to Futurpreneur who is our sponsor for this award in 2023.
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Legal sales of regulated cannabis industry on rise
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The legal sale of cannabis in BC continues to grow, potentially reducing the size of the black market. Statistics Canada's figures show that British Columbians spent $57.3 million on legal cannabis in July — the highest month yet recorded.
Since cannabis was legalized four years ago, statistics show one in five people report using the product over the past year. The Chamber supports fair rules for all businesses, and we believe that the community benefits from an industry operating with legal regulations that protect the public and provide certainty to businesses.
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Chamber Chats with CEO Bruce Williams
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Small Business Month: Challenges and Opportunities
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As we celebrate Small Business Month, it’s time to take a look at how the COVID-19 Pandemic has impacted small business. What has changed, what are the opportunities, and what does the future hold?
In this Chamber Chat, CEO Bruce Williams speaks with Kyman Chan of Grant Thornton LLP and Small Business BC CEO Tom Conway.
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Grant Thornton LLP: Member since 1973
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Registration is now open!
2022 Chamber Auction set for Nov. 6-13
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With this Rogers Media Advertising Campaign, your commercial can reach your potential audience and promote your business. Run anytime between now and June 30, 2023 between 5 am and 1 am, on a Monday through Sunday schedule.
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Register today to be notified when items become available,
and to get a sneak peek at Early Bird bidding!
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Have a fright this Halloween night!
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On Monday night, kids will fill the streets on the hunt for sugary treats.
Greater Victoria is known as one of the most haunted places in Canada, and this spooky season is the perfect time to experience something new — if you dare!
Visit a local pub or nightclub to show off your great costume skills, or have a Halloween meal at a great restaurant before handing out handfuls of candy to trick-or-treaters.
Whatever you may be up too this Halloween, The Chamber hopes you have a fun (and frightening) time!
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Hunting for your next best employee
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Hiring new staff members can be a frightening experience. Thankfully, with The Chamber’s job board, we can help you unmask the best candidates for your team.
As an exclusive Chamber member benefit, you can post a free 30-day listing on the job board every calendar year. Use the code INTRO2022 at checkout to use this offer today.
Finding the right fit for your organization is sweeter than any candy! Reach the right candidates with the help of The Chamber.
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CRD unveils new trails for mountain biking, hiking
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Capital Regional District (CRD): Member since 1993
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Kinetic Construction celebrating 38 years
Kinetic Construction is celebrating their 38th anniversary! The first Kinetic office opened in Victoria on Oct. 4, 1984. The company’s first projects included institutional buildings, renovations, seismic upgrades and marine projects on southern Vancouver Island. Today, the company employs close to 200 people and has offices in Victoria, Courtenay, and Vancouver.
Kinetic Construction: Member since 2018
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Greater Victoria School District SD61: Member since 1976
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Do you have a success story? We want to hear from you
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YYJ helping biodiversity with pollinator garden
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Victoria Airport Authority: Member since 1981
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BC Transit earns Salmon Safe certification
BC Transit’s new handyDART centre in the Town of View Royal has been certified as Vancouver Island’s first Salmon Safe site. Set to open in 2024, the handyDART centre demonstrates exemplary water management practices, improves the ecology of the area, and enhances the stream that runs through the site.
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Town of View Royal: Member since 2020
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BC Transit: Member since 1999
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Grocers uniting to raise funds for cancer research
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BC Cancer Foundation: Member since 1997
Red Barn Market: Member since 2019
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Thrifty Foods: Member since 1981
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Member to Member Discounts
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BC Ferries Connector operated by the Wilson's Group
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Iris Optometrists and Opticians
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Welcome to our Newest Members!
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Need to get one of our snazzy Chamber name tags?
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250-383-7191
victoriachamber.ca
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