Make sure to make use of your Chamber membership by registering now for our upcoming mixers, breakfasts and connectors. These social events sell out fast. And

Check out the photos from our April Business Mixer, co-hosted by Victoria Foundation and Max Furniture.

If you enjoy understanding the policies behind decisions that impact our daily lives, you'll want to read the Bank of Canada's latest report released today. The Summary of Governing Council deliberations offers a glimpse behind the scenes of why the Bank chose to pause interest rate hikes on April 12.

The council expressed concern about public perceptions fueling higher inflation and, after discussion, chose to signal that though the rate is unchanged it could go up if needed.

It's a fascinating read that offers great insight into why the cost of borrowing will remain high until rising costs can be tamed.

The latest report from the Canadian Mortgage and Housing Corporation shows an increase in new homes being built in Greater Victoria. That's good news, as The Chamber continues to advocate for changes to regulations and investment in strategies that increase housing supply. We need homes that are affordable to workers because Greater Victoria's employers desperately need employees.

CMHC numbers show housing starts in our region were up 32.6% year over year. There were 1,088 housing starts from January to March, compared to 820 starts for the same period in 2022. The report shows that most of the new starts are condos and apartments as fewer single detached homes are being built.

The City of Langford accounts for 537 of the new starts. The City of Victoria is home to 240 new starts and the Township of Esquimalt has 157.

It's too early to forecast whether the increase will be sustained over the course of the year, as high interest rates impact investment.

The report is also an indicator that some municipalities in our region are not creating their fair share of housing supply. Recent initiatives by the provincial government could help unlock potential housing in these areas.

The Tofino Bus is returning to service starting May 4, the Wilson's Group of Companies announced last week. The service was paused in December as the company needed to shift to a seasonal approach to stay sustainable. The drop in passengers taking the bus over the winter was too much for the company to subsidize the service based on summer revenue.

The Tofino Bus and Vancouver Island Connector service will re-start with weekend service from Thursdays to Mondays, and could ramp up to seven days a week in June. “We expect to see lower passenger counts to start, however, we typically see a rise around the May long weekend which lasts throughout most of the summer” Wilson’s Group of Companies Brand Manager Samantha Wilson-Newton said.

Our recently announced additional seats in the Palm Court are selling out fast. Don’t delay, only 20 seats left. Register today to get your spot at this previously sold-out event.

Connect with Greater Victoria's business leaders, innovators, and changemakers in style. Pre-event reception from 6-7pm, followed by dinner and the Awards from 7-10pm.

2023 Greater Victoria Business Awards

A friendly competition between neighbouring municipalities will have a global reach.

The mayors of the District of Saanich and the District of Oak Bay have made a friendly wager betting that the residents of their community will raise the most money for the University of Victoria's Hand Project. The initiative of UVic's Engineering program offers prosthetic limbs built with a 3D printer to people in need. In the case of the mayoral bet, the money that is raised will go to a $200,000 fund being used to set up clinics in Ukraine. The invasion of that country by Russian forces has resulted in an estimated 10,000 amputees.

The loser of the bet will pay his dues at the Oak Bay Tea Party in June by trying to learn how to use a prosthetic arm while rowing in this year's teacup race.

Working to answer questions facing employers

I speak with many business leaders every day and I’m always impressed by the innovative initiatives they’re finding to address common challenges. As the voice of business in the region since 1863, the Greater Victoria Chamber of Commerce stays current by listening and then amplifying what we hear to all levels of government. One of the most effective approaches has been our Business Leaders Luncheons, featuring high-level decision makers.

The Chamber’s events team is currently working overtime to prepare for a great series of guest speakers. We hosted B.C.’s Housing Minister Ravi Kahlon at our April Annual General Meeting and are preparing to welcome B.C.’s Minister of Jobs, Economic Development and Innovation in May. I’ve had the pleasure of attending a BC Black Business Association event with Minister Brenda Bailey, who is an up-and-comer in government. She’s an experienced business leader and an engaging speaker whose history as a tech entrepreneur helps her understand the types of innovations businesses are making to adapt and thrive in a shifting economy.

For those readers who might not be familiar with Minister Bailey, here are three reasons why you want to be there when she speaks with Chamber members on May 8 at the Union Club of B.C.

The Chamber is pleased to welcome co-op student Maddy Morrison to the team as our new Events and Administration Assistant.

Maddy has just completed her fourth-year at the University of Victoria. She is working towards a Bachelor of Arts general degree in English and Technology & Society, with a minor in Professional Communications. Passionate about writing and working with people, Maddy is excited by the chance to network at Chamber events and gain new skills as she helps with the 2023 Chamber Auction.

After university, Maddy would like to pursue a career involving communications, social media and event planning.

Maddy is excited to join the team and connect with more of the Greater Victoria business community. You can reach her at specialevents@victoriachamber.ca.

Looking to add to your team with a co-op student? Click here to connect with Camosun and University of Victoria.

Camosun College is celebrating more than 50 years of being a leader in our community. Camosun creates careers and builds skills for graduates.

In this Chamber Chat, CEO Bruce Williams discusses all things Camosun with President Dr. Lane Trotter

Camosun College: Member since 1981

Camosun College: Chamber Champion since 2023

Special thanks to our series sponsor: Island Savings

Members can post Coupons and Discounts free of charge here.