Peterborough Blogs
Peterborough and the Kawarthas Chamber of Commerce 2024 Business Summit Helping Entrepreneurs and Leaders On May 2
/Peterborough and the Kawarthas Chamber of Commerce’s 2024 Business Summit will be held on May 2 from 8:30 a.m. to 2 p.m. at Fleming College.
Screenshot.
This event is tailored for forward-thinking business owners and leaders. It promises to be an unparalleled opportunity to gain insights, forge connections and unlock strategies for leading into the future according to a press release.
The Summit will kick off with a keynote address from Unity Design Studio Principal Bill Lett, followed by a series of workshops:
Workshop Session 1
You should know more about your customers than they do – Heather Watson and Matthew Stimpson
Unleash the power of AI – Sofie Andreou
Unlocking Potential: Employment strategies for immigrants and diverse abilities – Andy Cragg and Agnes Wojewoda
Workshop Session 2
Leading through uncertainty – Nancy Wiskel, Anthony Evelyn, and Nicole Cooke
Copilot for Microsoft 365: Achieve more than ever with AI – Adam Bishop
Meeting the media: How to best share your business story – Jaye Makinson, Jordan Mercier, Jeannine Taylor, and Marcus Tully
Lunch will feature a panel discussion on Building Your Team featuring Heather Watson of acorn30, Scott Murison of Wild Rock Outfitters, Mike Stock of Unity Design Studio, and Jennifer Scates of Central Smith Ice Cream, moderated by Sarah Budd of the Peterborough and the Kawarthas Chamber of Commerce.
“The Business Summit is an opportunity to learn from the experts, learn from your colleagues, and get inspired to unlock your business potential,” says Sarah Budd, President and CEO of the Peterborough and the Kawarthas Chamber of Commerce. "The world is changing quickly and events like the Business Summit help to strengthen our business community and better prepare us for the opportunities of tomorrow.”
Tickets are available at the Chamber’s website.
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Peterborough Chamber to Host Warden's Breakfast For County Updates
/The Peterborough and the Kawarthas Chamber of Commerce is hosting a Warden’s Breakfast to hear updates from Warden Bonnie Clark at Lang Pioneer Village Museum on April 23 from 8 to 10 a.m.
Photo by dAVID tUAN bUI.
The Warden will discuss recent endeavours and future aspirations for Peterborough County. Updates on the County's progress and exciting prospects are also being revealed at the breakfast.
Warden Clark will be preceded by guest speaker Meredith Staveley-Watson, Manager of Government Relations and Policy at the Eastern Ontario Wardens' Caucus. She will discuss the ‘7 in 7+’ regional housing plan.
The ‘Countynental’ breakfast features food showcasing baked goods and savoury samples from establishments such as The Nutty Bean, Elmhirst's Resort, Stuff'd Lakefield, Three Roads Farms, The Cheesy Fromage, Jesse's Tap and Grill, Millbrook Mercantile, Cross Winds Farm and Fairlife.
Tickets can be found online.
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Voice of Business: Majority of Businesses Are Not Prepared For Leadership Change
/There is a topic that is often not discussed or planned for until late in the process – succession.
Here at the Chamber of Commerce we often have conversations with businesses who are thinking about selling their business. It’s something that has hit them fairly recently. They’re tired. The last few years have been a lot. They want to look after their mental and physical health. They’re getting older and want to spend time traveling and hanging out with the grandkids. It’s all understandable and frankly, they’ve earned it after years of long hours, high stress, and financial risks.
The problem is they’re tired right now. They’re hoping to get out some time in the next 12 months or so.
There’s a new report on this subject from the Northern Policy Institute in partnership with the Ontario Chamber of Commerce and Société Économique de l’Ontario called Taking Care of Business: The State of Business Succession and Planning in Ontario.
The report’s survey found that 73 per cent of business owners do not have a succession plan in place, even though the leaders of many organizations plan to sell or retire soon. Most business owners report planning to sell or retire in the next 15 years.
From Taking Care of Business: The State of Business Succession and Planning in Ontario:
Business Owners’ Responses to “Do you have a succession plan in place?”
I don’t know/prefer not to answer: 9 per cent
No, we do not have a succession plan in place nor have one in the process of being created: 44 per cent
No, but it is in the process of being created: 29 per cent
Yes, one is completed: 18 per cent
The transition of business ownership represents both opportunity and risk. Established businesses provide a strong platform for someone to continue to grow. But poorly planned succession can be a mess.
The report notes that one-third of business owners who plan to sell or retire in the next five years do not have a succession plan in place or are in the process of creating one. Organizations who are not anticipating a change of leadership are far less prepared. Smaller businesses are typically less prepared, despite being more likely to undergo leadership change.
There is a cost to putting off planning for change, as stated in the report:
“Poorly managed succession can lead to worse organizational performance and lost business value. This can result in reduced economic growth, job losses for employees, and reduced options for consumers. Therefore, increasing the number of businesses that adequately plan for succession will be crucial to ensuring that Ontario’s successful existing businesses continue to provide employment opportunities, goods and services, and economic growth even as their current leadership departs.”
While we typically talk about succession planning as it relates to retirement, which is a big component of it, businesses change hands for multiple reasons. Some move on for a change of
scenery, but there are also unexpected and unforeseen changes due to health issues, death, family needs, financial issues, business partnership breakdowns, etc. Having a plan on the books will go a long way to making that transition process go more smoothly.
Good planning will help preserve local businesses and create a stronger local economy. If you or your organization are interested in planning for changes in leadership and ownership, your local Chamber of Commerce can help make some recommendations on local businesses with succession expertise. The best time to plan for the future is now.
Content provided by the Peterborough and the Kawarthas Chamber of Commerce.
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Voice of Business: Business and Political Leaders Need to Reset Their Relationship
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Guest Column by Daniel Tisch, President & CEO of the Ontario Chamber of Commerce
After what Pierre Poilievre told the Vancouver Board of Trade, it's clear business and political leaders need to reset their relationship.
After 18 months as federal Conservative leader Pierre Poilievre spoke last week to a local Chamber of Commerce for the first time.
As he took the stage in Vancouver, he was eager to explain why it took him so long.
Poilievre began by noting that he had spoken more than 100 times on shop floors and to union locals. That was good to hear — even refreshing. He deserves credit for that effort.
But then he dropped the punchline, and it wasn’t kind to his hosts. The real reason he stays away from business audiences, he said, is because of ‘utterly useless’ corporate lobbyists focused on ‘getting lunches with ministers’ and ‘showing off their latest ESG brochure.’
Poilievre created a caricature of ‘politicians and CEOs working together for their own interest.’
He’s not alone.
In Ottawa, business-bashing is part of the populist playbook — right across the political spectrum. Liberal Prime Minister Justin Trudeau recently slammed a media company for its “garbage decision” to make cuts and layoffs after a $40 million operating loss. His government has imposed new taxes and costs on banks and tech companies because they’re banks and tech companies.
New Democratic Party leader Jagmeet Singh routinely blames “‘corporate greed’ for rising prices. He recently accused retailers of ‘ripping people off’ — as if the high inflation, wage settlements and supply chain disruptions of recent years never happened.
Are concerns about high prices legitimate? Yes. Should business leaders be asked hard questions? Absolutely. Should their policy prescriptions be challenged and debated? Of course. Will anyone shed tears for big companies? No.
It’s a dangerous game, however, when political leaders traffic in anger, stereotyping and scapegoating of any group or institution. It might garner a few votes, but it won’t move us forward as a nation.
Canada has serious challenges: lagging productivity. Skills and labour shortages. An overloaded and disjointed health-care system. Insufficient investment in climate and clean technology infrastructure. And much more.
These challenges are too wicked for the government to solve alone. While government’s job is to set the agenda and make the rules, it’s a huge error for political leaders not to engage the financial, human, intellectual and relationship capital of the private sector.
Does business want to be part of the solution? You bet. That, too, earned a rebuke from Mr. Poilievre. He criticized business leaders because ‘they want to get along with everybody’ and urged them to ‘stop sucking up to the people who are doing the damage to our country.’
But it’s not the role of business leaders to get partisan, or to help opposition leaders get elected. Business leaders need to work with government — no matter who is in government.
This is particularly true today, in an era when none of the major federal party leaders have a business background. That’s not a criticism; they bring other skills and qualities to the table.
But it does mean business and political leaders need to reset their relationship, and to approach one another with fewer assumptions, and more humility; with less rhetoric, and more dialogue; and with less theatre, and more collaboration and co-creation.
In last week’s speech, Poilievre also told his audience that he favours a ‘bottom-up free enterprise agenda’ — i.e., an agenda rooted in the needs of enterprising businesspeople, not politicians in Ottawa. He was wise to speak at a Chamber of Commerce, because there’s no more “bottom-up” business organization in our nation today. In every town, city or province in Canada, from heartland to hinterland, the vast majority of Chamber members are small businesses. They want their chambers to work with Poilievre, Trudeau and Singh — just as they do successfully with all our provincial leaders.
Canada needs political and business leaders to work together in a spirit of goodwill, reflecting the shared interests of businesses, workers and communities. It’s time to rebuild that spirit.
Content provided by the Peterborough and the Kawarthas Chamber of Commerce.
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Voice of Business: Making Ontario More Competitive For Permanent Residency
/Ontario is less competitive than other provinces when it comes to approving permanent residency for new Canadians. This impacts our ability to attract talent at a time when we desperately need to increase our workforce, especially in Peterborough and the Kawarthas where unemployment remains well below the national average.
We have put forward a policy resolution for the Ontario Chamber of Commerce to add pressure to our provincial government to take a look at the Ontario Immigration Nominee Program and rework it to help employers attract and retain talent.
Ontario offers a lot for prospective new Canadians in terms of job opportunities and multicultural communities, but it has become less competitive when it comes to getting permanent residency.
For many people here on student and work visas, securing permanent residency is a major source of anxiety. Fear of not being accepted before their visas expire is driving people to other provinces that increase their chances of success.
Labour markets are softening, but access to labour remains one of the biggest barriers to business. The Ontario Chamber of Commerce 2023 Ontario Economic Report found businesses reported investing in workforce development to be their second highest policy priority.
The slowing economy is likely to ease labour pressure, but the slew of impending retirements will further increase demand.
While unemployment increased in the second half of 2023, BDC reports that it’s because the active working population grew with about 430,000 jobs being created between January and November of 2023.
As much as Ontario has to offer newcomers, lack of access to housing and the rising cost of living are increasingly becoming barriers. Add this to the fact that other provinces make it easier to gain permanent residency while offering lower living costs and Ontario is increasingly becoming less attractive.
Currently, the Ontario Immigration Nominee Program (OINP) points system offers similar criteria to the Federal Express Entry program, which does not set the Province apart nor is it helpful for the candidates who fall outside the scope of the federal program. Our province should be targeting those who fall outside the federal criteria, especially if they are currently working or have a job offer in Ontario.
There is a lack of clarity on what National Occupation Codes (NOC) will be invited in the future, pushing people from certain professions to other provinces that are more likely to sponsor them. Additionally, provinces like Alberta have had success by removing the requirement to select a specific job or occupation from a list, opening up more opportunities for new Canadians to work in any job or business sector.
We have small and microbusinesses in Ontario that have a desire to sponsor new residents, but their business does not meet financial requirements. In the Greater Toronto Area, sponsoring businesses must have five employees and $1 million in revenue. Outside the GTA that drops to three employees and $500,000 in revenue. This financial threshold especially impacts small family businesses from immigrant communities.
Some candidates for residency have been working in Ontario for years with programs like the Labour Market Impact Assessment, but still do not qualify for residency here. Others are here studying for in-demand vocations like personal support workers, but don’t qualify for the Student Job Offer stream because their program is less than two years.
It has been pointed out by a number of industry professionals that the online application system is not as user-friendly as it could be, especially when those trying to apply may have language barriers, technology barriers, and slow internet connections.
Ontario needs to make some strategic changes to its approach to immigration and sponsoring candidates for permanent residency.
We recommend the Government of Ontario:
Make Ontario more competitive for securing permanent residency by:
Tailoring the Ontario Immigration Nominee Program to target candidates who fall outside the federal criteria with an emphasis on those already working in Ontario, including establishing a program for those with long-term work experience in Ontario as a pathway to residency.
Reducing employment criteria barriers, including:
a. Providing clarity on what NOC codes will be invited in the future or eliminating the requirement to select a specific job or occupation from a list altogether.
b. Lowering the revenue requirement and requirements for a specific number of employees for businesses to allow for smaller businesses to sponsor permanent residents.
Opening up the Student Job Offer Stream program to students in one-year programs.
Improving the functionality of the OINP website, providing a more up-to-date and user-friendly experience.
Content provided by the Peterborough and the Kawarthas Chamber of Commerce.
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Fleming College Business Students Benefit In New Partnership With Peterborough & Kawarthas Chamber of Commerce
/Fleming College and the Peterborough & Kawarthas Chamber of Commerce have partnered to create a student membership program where business students can attend the latter’s monthly events and access its resources, announced on Thursday.
Photo courtesy of Fleming College.
Students in Fleming’s International Business Management and Global Business Management programs can take advantage of the opportunity.
The Chamber’s multiple networking events allow students to engage with local entrepreneurs, tour local businesses, meet the region’s industry leaders and establish connections in the business community.
Fleming students can also access and attend Chamber-hosted webinars and seminars. Access to the Chamber’s job board, newsletter subscription and online Knowledge Hub is also included.
The Chamber will also host two events at Fleming College, bringing the region’s business community members to the Sutherland Campus.
This new membership program is available to first-semester students in the Winter 2024 and Fall 2024 semesters.
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Peterborough Chamber's Power Hour Invites Political Leaders For Panel Discussion On Business Issues
/The Peterborough and the Kawarthas Chamber of Commerce is gathering local political leaders for a panel discussion to tackle local business issues in a ‘Power Hour’ at Stonehouse Hall on Friday.
Photo courtesy of the Peterborough and the Kawartha Chamber of Commerce.
Invited politicians for the panel are Bonnie Clark, Peterborough County Warden; Michelle Ferrari, Peterborough-Kawartha MP; Dave Smith, Peterborough-Kawartha MPP and Mayor Jeff Leal. The discussion is moderated by Joel Wiebe, the Chamber’s vice president and government relations & communications.
Opening remarks are in the morning with a lunch served prior to the panel discussion occurring in the afternoon.
The event features a moderated Q&A session with questions submitted from by the audience.
Voice of Business: Enforcing Fair Property Tax Ratios
/Businesses in Ontario pay much higher property tax rates than residents, despite using fewer services. The Ontario Municipal Act requires municipalities to tax commercial and industrial properties at a ratio of 0.6 to 1.1, but many municipalities have no plans to comply.
For 2024, the City of Peterborough moved to increase its business tax ratio from 1.5 to 1.65, shifting added tax burden onto the business community in order to minimize the rate increase for homeowners. This trend is causing concern among businesses across Ontario.
The Peterborough and the Kawarthas Chamber of Commerce has put together a policy resolution on this tilted “Enforcing fair property tax ratios” that we have submitted to the Ontario Chamber of Commerce (OCC). It will go to the membership to debate and vote on in April, at which point approved resolutions become part of the advocacy efforts of the OCC for the next three years.
Our resolution:
Commercial and Industrial property taxes in Ontario municipalities are calculated based on a ratio of what residential property owners pay. For example, if a municipality has a commercial tax ratio of 1.75, commercial property owners are paying 175 per cent what a resident is paying for the same amount of property tax assessment.
The Ontario Municipal Act Reg. 386/98: Tax Matters – Allowable Ranges for Tax Ratios sets an allowable range for property tax on commercial and industrial properties at 0.6 to 1.1.
A quick look at tax ratios from a selection of municipalities from across Ontario from 2023 demonstrates that this range is not being followed:
Commercial Industrial
Barrie 1.43 1.51
Milton 1.46 2.09
Peterborough 1.5 1.5
Brantford 1.75 2.25
Guelph 1.84 2.2
North Bay 1.88 1.4
Woodstock 1.9 2.63
Sudbury 1.91 3.45
Belleville 1.92 2.4
Kingston 1.98 2.63
Thunder Bay 1.98 2.37
Clarington 1.98 2.49
Sarnia 2.02 2.4
Niagara Falls 2.15 2.95
Sault Ste. Marie 2.31 4.38
Municipalities are coming under increasing financial pressure due to factors that include inflation in everything from capital projects to wages, increased demand for services, and an increased role in areas like public health and homelessness. Despite this pressure coming from a variety of sources, they essentially have one tool for raising the funds to do it — property taxes.
More financial pressure on municipalities is leading them to further increase tax ratios to the benefit of residents at the expense of the business community.
The City of Peterborough spent a decade lowering its commercial and industrial tax ratios to 1.5, achieving that several years ago. This year it voted to increase the tax ratios to 1.65, shifting $3 million in taxation from residents to businesses. Businesses in the City of Peterborough will on average pay 22 per cent more in property tax in 2024.
Similar stories are playing out across Ontario and businesses cannot continue to bear the brunt of property taxation on behalf of residents. Businesses use fewer services but are expected to pay significantly more for them.
It is clear Reg. 386/98 of the Ontario Municipal Act has no teeth. Municipalities across Ontario have been charging property tax ratios well outside the allowable range for decades with no plans to change. The Government of Ontario needs to put some teeth in the act and hold non-complying municipalities to account.
Recommendations
That the Ontario Chamber of Commerce urge the Government of Ontario to:
Enforce existing property taxation ratios set out in the Ontario Municipal Act Reg. 386/98: Tax Matters – Allowable Ranges for Tax Ratios by withholding provincial support — including access to provincial funding streams — to municipalities that:
a) are not taxing commercial and industrial properties at the required rates or
b) are not actively transitioning to the required rates based on a plan that specifies gradual decreases on a timeline approved by the Province.
Content provided by the Peterborough and the Kawarthas Chamber of Commerce.
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Voice of Business: A Portrait of Small Business In Canada
/Consumer behaviours have changed and with it the landscape for small businesses across Canada. It’s important to step back and have a look at what’s happening in the industry.
A new report from the Canadian Chamber of Commerce’s Business Data Lab titled A Portrait of Small Business in Canada: Adaption, Agility, All At Once does just that.
Small businesses are the backbone of the economy, making up 98 per cent of businesses in Canada and employing 11 million people. Small businesses are considered businesses with 1 to 99 employees. Within that designation, micro businesses (one to four employees) are by far the most common with the median small business having fewer than five employees.
The report states: “This underscores the importance of improving our understanding of the business realities of all small firms, but especially micro firms, while ensuring that adequate financial, operational and regulatory support measures boost the resilience of small and micro businesses for the sake of Canada’s economy. Put simply, the survival of micro firms is a macroeconomic issue for Canada.”
The report also looks into the realities, challenges, and opportunities for small businesses owned by women, persons with disabilities, members of the LGBTQ2s+ community, immigrants to Canada, Indigenous peoples, and visible minorities.
For example, immigrants make up 25.5 per cent of all private sector businesses, well above their 23 per cent representation in Canada’s population. However, within this, immigrants are less likely to own larger businesses.
Progress was made in recent years with women having more opportunity through flexible work arrangements, leading to more women in in-demand work at higher pay. While government programming aims to increase access to childcare, the transition back to the physical workspace is threatening to scale back progress for women.
Majority ownership of private sector small businesses in Canada, by underrepresented/equity-seeking groups.
Immigrant to Canada – 25.5 per cent of businesses/23 per cent of population
Visible Minority – 19.2 per cent of businesses/26.5 per cent of population
Women – 17.8 per cent of businesses/50.9 per cent of population
LGBTQ2s+ – 3.3 per cent of businesses/4 per cent of population
Persons with a disability – 2.2 of businesses/22 per cent of population
Indigenous – 2.2 per cent of businesses/5 per cent of population
