Peterborough Blogs
Voice of Business: Ontario Budget Must Focus on Business Predictability and Growth
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Ontario needs to foster an environment that supports longer-term, sustainable economic growth.
That’s the message the Ontario Chamber of Commerce (OCC) is sending to the provincial government with its 2023 budget submission.
The recent Ontario Economic Report (OER) showed Ontario business confidence has dropped to a record low in 2023. Driving that are labour shortages, inflation, healthcare system vulnerabilities, and fears of a potential economic slowdown.
“We know from the OCC’s 2023 OER that many small businesses would like to see public policies that support their immediate financial and operational needs, while large businesses are more interested in broader workforce development and health care challenges,” said Rocco Rossi, President and CEO of the OCC. “What we are looking for in Budget 2023 are measures that support greater productivity and long-term, sustainable economic growth. That means we want to see the government continue to prioritize growth-enabling investments to address labour shortages, the health care crisis, and infrastructure deficits, and modernize regulations and government services in the year ahead.”
The budget submission groups recommendations to the Government of Ontario under the following categories: Sustainable Growth, Complete Communities, and Modernization.
Some key proposals include:
Fostering an inclusive workforce and addressing labour market challenges by supporting innovative training and education models, boosting immigration, making regional immigration pilots permanent, continuing to remove barriers to labour mobility and foreign credential recognition, and adopting supplier diversity programs to create opportunities for entrepreneurs and businesses that support diversity and inclusion.
Strengthening health system capacity and resilience by continuing to tackle the health human resources crisis, combating growing rates of mental health and addictions challenges, supporting the aging population, and continuing to address the backlog of surgeries and routine immunizations, as well as deferred cancer treatments, diagnostics, and procedures.
Investing in growth-enabling infrastructure by continuing to accelerate broadband rollout across the province, building affordable housing and complete communities, expanding regional transportation connectivity, and investing in energy generation, transmission, and distribution infrastructure to support long-term growth and resiliency.
Modernizing government services and regulations by building an integrated health data system, bolstering interprovincial trade, improving supply chain infrastructure and public sector procurement processes, and lowering administrative burdens on business.
The recommendations outlined in the OCC’s budget submission were developed with businesses, associations, post-secondary institutions, and chambers of commerce and boards of trade from across the province. See the full submission here.
Ontario's business community needs a clear and predictable path forward to support economic recovery and growth. We want to see the government direct sufficient resources towards the hardest-hit sectors, while laying the groundwork for a sustainable and inclusive economy.
Content provided by the Peterborough and the Kawarthas Chamber of Commerce.
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StoosNews Spotlight: Check Out The Business Beat This Week Featuring Gaia's Greens, Bean's Books, Seniors Showcase and PKED
/PTBOCanada is delighted to be running StoosNews columns each week here, spotlighting new businesses and startups in Peterborough and the Kawarthas. Here is this week’s edition…
Laura Dempsey has launched a new grow-to-order microgreens farm, offering weekly pickups at two locations in Peterborough and Lakefield.
Gaia's Greens Family Farm is a small, ‘direct to community’ farm. Microgreens are up to 40 times more nutrient-dense than mature greens like Broccoli, offering a healthy addition to virtually every single meal. Get more details at gaiasgreens.ca.
Pamela Cole has started her own small business called Bean’s Books, specializing in children’s educational literature.
She just published her first workbook and first kid’s book on Amazon. The workbook is all about the alphabet, teaching kids how to write both upper and lowercase, recognize letters through matching, fill-in-the-blank activities, and colouring pages. The children’s book is an interactive story that takes place at the farmer’s market. Find her at Bean’s Books on Facebook.
Seniors Showcase is back in person this year on June 21 from 9 a.m. to 4 p.m. at the Peterborough Sport and Wellness Centre at 775 Brealey Dr.
This annual event brings together more than 100 exhibitors that offer products and services for an actively aging demographic — all under one roof. The show offers free workshops for seniors and their families all day, making it a one-stop shop for products, services, and education. Go to pkchamber.ca for more details or to book an exhibitor booth.
Summer is closer than it appears which means it’s time for young people to start thinking about starting their own business with the help of Summer Company program run by Peterborough & the Kawarthas Economic Development’s Business Advisory Centre.
The program helps youth aged 15 to 29 try their hand at business ownership by providing up to $3,000 in start-up funding, one-on-one guidance from business advisors, mentorship from local business leaders, access to business workshops, training and resources and ongoing business support. The deadline for applications is May 15. Check it out at investptbo.ca.
Voice of Business: The Government Needs to Re-evaluate the Repayment Terms of the CEBA Program
/Loans and grants were a lifeline for businesses three years ago when the pandemic hit. Now, the path to repayment is proving challenging.
Many businesses borrowed from anywhere they could — banks, credit unions, the government, family, and personal finances — as rain day funds weren’t deep enough to deal with years of public health restrictions.
One program in particular offered tangible help early on in the pandemic — the Canada Emergency Business Account (CEBA), which offered a total of $60,000 in interest-free loans for small businesses and not-for-profits with up to $20,000 eligible for loan forgiveness.
In 2021, the Peterborough and the Kawarthas Chamber of Commerce had its policy resolution “CEBA Loan Forgiveness For Hardest Hit Businesses” endorsed by chambers and boards of trade from across Canada. We pushed for at least a two-year deadline extension, keeping the forgivable portion available to all businesses that continue to have operations impacted by ongoing COVID-19 public health restrictions, and allowing businesses that continue to have operations impacted to be exempt from incurring interest prior to the balance of their loan being due. Otherwise, those businesses hit the hardest would get the least out of the program (interest on their loans and no forgivable portion) while putting the government in the awkward position of having to collect from the very businesses it pledged to support with this measure.
In January 2022, the federal government extended the deadline by one year. That means businesses will be expected to pay back two-thirds of their loan by Dec.31, 2023 or they will become ineligible to get a portion of their loan forgiven and begin to accrue interest at 5% before coming due December 31, 2025.
A recent CBC article titled “Only a fraction of CEBA loans have been repaid as businesses call for deadline extension” claims only 13% of the 900,000 businesses have repaid their loan in full. In total, $5.7 billion has been repaid of the more than $49 billion in loans issued.
A lot has changed since those initial loans were issued in 2020. The optimists among us figured we would be through the worst of the pandemic and its public health restrictions in a matter of weeks or months. Three years later and we finally seem to be through the worst of it but have been hit with continued supply chain and labour bottlenecks and challenges, the highest inflation in a generation, soaring interest rates, and the looming threat of a recession.
Given all that has unfolded, our 2021 policy resolution may not have gone far enough.
We do need to encourage those who have come through the last three years in decent financial shape to pay back their loans. There are more than $43 billion in outstanding CEBA loans out there and it’s to the benefit of all taxpayers that those who are able to repay it do so. And this program is just one part of the massive, multi-government spending program that helped people, businesses, and non-profits make it through an unprecedented global crisis. Our governments have accrued massive amounts of debt and we need to do what we can to pay back what is owed.
But we need to set criteria to support those hit the hardest. The result of the current design of the program is that the most vulnerable businesses will also get the least benefit from it, resulting in significant interest incurred and the requirement to pay back 100 per cent of the principal — dragging out their recovery even longer.
This government has acknowledged the disproportionate impact on social demographics including women, ethnic and racial minorities, and First Nations. A larger number of people in these demographics depend on the hardest-hit businesses for employment and those who own businesses tend to have less financial backing to weather a financial crisis like COVID-19. The hardest hit business sectors include food service, hospitality, tourism, arts and entertainment, retail, and personal service. Many faced the most significant public health restrictions, were least likely to have access to capital, and continue to bear the brunt of our workforce shortage.
Adding to this struggle is the mental health crisis many business owners are facing. Prolonged social restrictions, struggle to repay debt, and a less optimistic recovery are weighing heavily on many people who have invested significant time and money into their businesses.
The federal government needs to re-evaluate the repayment terms of the CEBA program. Businesses hardest hit over the last three years require a longer interest-free loan period and a larger debt forgiveness program.
Content provided by the Peterborough and the Kawarthas Chamber of Commerce.
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Peterborough and the Kawarthas Home Builders Association Celebrated at National Conference
/Peterborough and the Kawarthas Home Builders Association (PKHBA) announces that past president Garnet Northey has been named to the executive board of the Canadian Home Builders Association, and PKHBA member Trademark Homes has won a nationally renowned award at this years Home Building Week in Canada Conference.
photo courtesy of Peterborough and the Kawarthas Home Builders Association.
During the conference, members from across the nation submitted their best work of 2022 for judging. Winners in over 50 categories were announced at the conference in Banff, AB last month.
One of PKHBA members, Trademark Homes, won the National Award of Housing Excellence for best custom home over 5,000 square feet for their project on Balsam Lake in the City of Kawartha Lakes. Trademark Homes has been a member of PKHBA since 2022 and continues to provide residents of the Peterborough and Kawartha Lakes with outstanding service in their field.
Past president of PKHBA and owner of Spotlight Home & Lifestyle Inc. Garnet Northey was named as the new treasure for CHBA at this same conference.
“This association is really a grassroots association. I’m from Peterborough, a little town in Ontario, very involved provincially and now nationally,” said Northey. “It’s a learning experience but it really allows me to get a good cross sectional matrix of all of our members at all levels so that I can represent our members properly at the province and now at nationals. So, I'm really looking forward to it and continuing to serve in this capacity.”
For more information on what PKHBA learned and presented at the national conference, contact Rebecca via email.
StoosNews Spotlight: Check Out The Business Beat This Week Featuring Maker Space, SPARK, ONE Salon Suites and Bhojan
/PTBOCanada is delighted to be running StoosNews columns each week here, spotlighting new businesses and startups in Peterborough and the Kawarthas. Here is this week’s edition…
As of March 10, Artspace has its new Maker Space open to the public.
The space will be open on Fridays and Saturdays for artist drop-in hours from 10 a.m. to 4 p.m. Artists, makers, and community members are encouraged to stop by, bring their own work and/or use the equipment and materials available. Everyone will receive a short orientation before gaining access to equipment. Find out more at artspaceptbo.ca or drop by Artspace at 378 Aylmer St. N.
Peterborough’s annual celebration of photography, SPARK Photo Festival, is back this April with the voices and vision of more than 90 participating photographers.
Spark is a month-long festival of artists displaying their art in venues across the region, both in traditional galleries and in some surprising spaces, such as shops, offices, cafés, restaurants, schools and even outdoors, for the enjoyment of the community. Get a sneak peek at the kick-off pub night and pop-up sale event on March 29 at The Publican House Brew Pub. Find more information and get tickets to the launch event at sparkphotofestival.org.
Dianna Cairns and Ashley Hunter are bringing their ONE Salon Suites to Peterborough following the success of their first location in Kingston.
ONE Salon Suites is a Beauty & Wellness Gallery that brings together independent beauty professionals under one roof. You get to operate your own personalized suite while benefiting from a collaborative community of experts in the industry. They have 25 suites that range in price and size at 950 Lansdowne St. W.(behind Walmart, facing The Parkway). Check them out at onesalonsuites.com.
You’ll be seeing double heading down George Street these days as a family have opened two new business across from each other and both called Bhojan.
One side of the street is an Indian restaurant and the other side is a grocery store. They specialize in vegan and gluten-free food. The authentic Indian cuisine restaurant is located at 427 George St. N. while the grocery store featuring food from across India is located at 428 George Street N.
Local Youth Encouraged To Consider Starting a Small Business This Summer
/Youth interested in launching and running their own business this summer are encouraged to apply by May 15 to the Summer Company program offered by the Peterborough & the Kawarthas Business Advisory Centre (BAC).
photo courtesy of the Peterborough & the Kawarthas Business Advisory Centre.
The Summer Company Program is the Government of Ontario’s flagship youth entrepreneurship program which helps youth aged 15-29 try their hand at business ownership by providing up to $3000 in start-up funding, one-on-one guidance from business advisors, mentorship from local business leaders, access to business workshops, training and resources and ongoing business support. Summer Company is a free youth skills program, and students are encouraged to apply early as there are limited spots available.
“March break is a great time for students to start thinking about summer employment opportunities. While there are many excellent summer jobs available through local employers, students often overlook the opportunity to launch their own business, and Summer Company is a low-risk way for youth to try entrepreneurship,” said Madeleine Hurrell, BAC Manager for Peterborough & the Kawarthas Economic Development.
The Peterborough & the Kawarthas Business Advisory Centre, operated by Peterborough & the Kawarthas Economic Development, has been the program provider of this program for the City and County of Peterborough since 2001.
To learn more about eligibility and to apply, visit the website.
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Kawartha Credit Union Earns Customer Service Award
/Top-notch service has been recognized as Kawartha Credit Union (KCU) has been awarded a MemberXP 2023 Best of the Best Award winner announced on Wednesday.
Photo courtesy of Kawartha Credit Union.
The Best of the Best Awards are presented to credit unions that consistently provide extraordinary service, as reported by their own members according to a press release.
“We are delighted that our members took time to give us feedback on our service and will use it to continue to improve the banking experiences we provide to our members,” said Peter Van Meerbergen, Kawartha’s Executive Vice President, Member Experience. “I am proud of the Kawartha Credit Union team for delivering on our core value of member service excellence, and for being recognized for their exceptional efforts with these distinctive awards.”
“Creating member loyalty in a sea of ever-increasing competition from other financial institutions and Fintechs is no easy feat,” said Norah McCarthy, Kawartha’s President and CEO. “Members who actively engage with us provide valuable insight to drive change and improvement for the organization. Our teams not only listened to the needs of our members, but they also acted on those responses for remarkable results.”
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Voice of Business: Reducing Barriers to Regional Cooperation Is Key to Reaching Our Goal
/No municipality works in isolation — we all have neighbours and it’s imperative that we work together toward common goals.
Business, life, and recreation don’t stop at political boundaries.
The Peterborough and the Kawarthas Chamber of Commerce have long been advocates for regional cooperation. One barrier we are working on is relating to how we track job creation for the province.
We have a resolution that we have submitted to the Ontario Chamber of Commerce titled Accounting for economic outcomes in regional collaboration projects. We first submitted it three years ago but it has largely gone unaddressed and so with the support of other Ontario Chambers, we’re pushing for this again.
Jobs created during collaborative regional economic development projects are only attributed to the municipality in which they are geographically located.
The 2019 report from the Ontario Chamber of Commerce titled The Great Mosaic – Reviving Ontario’s Regional Economies, states:
“Ontario’s economy is undergoing a period of rapid change. Twenty-first century globalization, urbanization, and technological transformation are challenging the status quo and redefining what it means to be competitive. Given these and other pressures, Ontario’s overall prosperity will increasingly depend on the strength of its regions.”
It’s fitting to start a discussion around how to then calculate economic impact. Municipalities impacted by A Place to Grow: Growth Plan for the Greater Golden Horseshoe is bound by provincial legislation to have official plans, the land needs assessments, and zoning by-laws in place that detail how each municipality is going to achieve the pre-determined milestones of jobs and residents per hectare. Those results are then reported to the province.
And while these plans and processes are necessary, they don’t account for the fact that more and more economic development is collaborative and crosses geographic lines. One example can be found in the City of Peterborough. The City has contributed significant dollars to infrastructure at the regional airport that lies just outside its geographical boundary. The combined investment by the City, County and local township has resulted in the number of jobs increasing from 50 to over 300 over the past decade. The question becomes how is the outcome of those investments (jobs, new economic opportunities, etc..) accounted for in growth targets? Right now, the outcome falls to the municipality in which the tangible asset exists – therefore, we are back to geographical boundaries even though it is a regional collaboration.
This disconnect between investment and reporting rules is a barrier to regional economic development because the value of the investment is diminished when the result is not recognized. To resolve this issue and encourage more regional collaboration that will benefit all of Ontario, we ask that government amend the reporting rules and allow all municipalities to account for the jobs they have helped create through regional projects.
The Growth Plan document identifies a need for complete communities with the following paragraph in section 2.1:
“To support the achievement of complete communities, this Plan establishes minimum intensification and density targets that recognize the diversity of communities across the GGH. Some larger urban centres, such as Toronto, have already met some of the minimum targets established in this Plan, while other communities are growing and intensifying at a different pace that reflects their local context.”
This allowance will encourage more collaboration across geographical lines by municipalities and help regions invest in projects that will benefit their area and the province as a whole. It will also more accurately reflect the local context of the urban-rural mix in the outer ring municipalities. These outer ring municipalities also address issues such as transit and conservation issues across geographical lines, yet recognition of the impact of regional economic development on multiple municipalities does not happen.
Continuing in 2.1 is the following:
“…consider opportunities to better co-ordinate our collective efforts across municipalities to support their contribution to economic growth and improve access to transit.”
If this call is to be realized to its maximum potential then there has to be allowance to recognize the impact of jobs created and economic impact when municipalities work together.
Our recommendation to the Government of Ontario is to develop a mechanism that allows for multiple municipalities who have invested in a regionally significant project to account for jobs created proportional to financial contribution when reporting to government
Content provided by the Peterborough and the Kawarthas Chamber of Commerce.
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Student-Led Community Tax Clinics Return to Fleming College
/Fleming College’s student-led tax clinics are returning to Sutherland Campus this March.
photo courtesy of fleming college.
Administered through a program with the Canada Revenue Agency, these community tax clinics are run by students in Fleming’s Accounting program and are supervised by their program instructors. The clinics provide an enriching, real-world experience for students while offering a valuable service to the community.
Clinics take place each Thursday from March 9 to 30 at the Kawartha Trades and Technology Centre, running from noon to 4 p.m.
To be eligible for the free clinics, individuals must:
Have an income of $35,000 or less for individuals
Have a combined income of $45,000 or less for a couple
Have a combined income of $47,500 or less for a family of three
Have a combined income of $50,000 or less for a family of four
Students will not prepare returns for self-employed individuals or for those who have capital gains or losses, employment expenses or who have filed for bankruptcy.
Eligible residents can make an appointment at the clinic by emailing before-hand. Walk-ins can also be accommodated if students are available.
Eligible residents are also welcome to drop off their tax information, and can email the clinic for more information.
Anyone attending the clinic is asked to bring the following information:
Social Insurance Number
T2202A Tuition Receipt (if applicable)
Rent Receipts for rent paid in Ontario in 2022 (if applicable)
Medical expense receipts
T4 Statement of Income (provided by your employer if you worked in Canada in 2022)
Any other tax related slips you may receive in the mail, like a T5 or a T3 slip (for investment income)
International students and new Canadians filing a tax return for the first time will need to provide their date of arrival in Canada
