Canadian Chamber of Commerce

A fantastic start to our Canadian Chamber of Commerce mission to #Brazil 🇧🇷 this week: I was honoured to join our friends at the CCBC - Chamber of Commerce Brazil-Canada to provide a keynote on Canadian innovation at their Canada summit; followed by a fantastic Bloomberg New Economy conference featuring a lively discussion with US Trade Rep. the Hon. Katherine Tai on today’s geopolitical environment; then private meetings in São Paulo between our Canadian members, partners, and members of the Brazilian business community. And great hospitality and cultural exchange all along the way! Special thanks go to Ambassador Emmanuel Kamarianakis, Consul General Caroline Charette and their entire team for the support, insight and help along the way. Up next: insights from the B20 Brasil Summit.

Welcome Tiebreaker AI to our Future of Artificial Intelligence Council! 🎉 The Council’s primary goal is to influence and advance policies that will result in the responsible development, deployment and use of AI in business. You can learn more about its mandate and members here: https://lnkd.in/eBk3dzgC

I had the pleasure of representing the Canadian Chamber of Commerce at Climate Proof Canada's second National Climate Adaptation Summit. The event united a diverse array of stakeholders in Ottawa, including industry leaders, NGOs, academics, think tanks, municipalities and Indigenous communities, to emphasize the urgent need to mitigate climate risks to both people and the economy. This gathering offered a vital opportunity to share practical measures for enhancing adaptation in built and natural infrastructure, Indigenous resilience, disaster preparedness, and public health with a cross-partisan group of parliamentarians. A big thank you to Jason Clark and the entire team at Climate Proof Canada for their tremendous effort in organizing this gathering.

We recognize the government’s efforts to strengthen and ensure our immigration system is sustainable. We are pleased to see that approximately 62% of total permanent resident admissions will be dedicated to the economic class. However, the significant reduction announced today for the 2025–2027 Immigration Levels Plan is disappointing for #businesses across the country that, in recent months, have had to deal with abrupt and constant changes to #immigration policy. Significantly decreasing our #labour pool will impact thousands of these employers across Canada struggling to find the workforce they need to operate and grow. Today’s announcement will also reduce Canada’s capacity to attract foreign direct #investment. Immigration is a key driver of economic growth and our only source of workforce growth in the near future. It is more imperative than ever in the context of the aging of our population, low fertility rates and current wave of retirements. The future of Canada depends on getting immigration right. We can do better. https://lnkd.in/e9H4FYKh

Struggling with logistical challenges in manufacturing and shipping? Join us on November 7, in collaboration with Lazr Freight, for an insightful webinar where we’ll tackle three key issues impacting the industry: ✅ The cost of inefficiencies ✅ Lack of visibility across the supply chain ✅ Growing labor shortages in logistics Whether you're a small business or large enterprise, learn how our innovative logistics web platform can streamline processes, boost transparency, and optimize your workforce. Register for free: https://lnkd.in/ek7w76Yt **************************************** Vous êtes confronté à des défis logistiques dans le domaine de la fabrication et de l'expédition ? Rejoignez-nous le 7 novembre, en collaboration avec Lazr Freight, pour un webinaire perspicace au cours duquel nous aborderons trois questions clés ayant un impact sur l'industrie : ✅ Le coût des inefficacités ✅ Le manque de visibilité dans la chaîne d'approvisionnement ✅La pénurie croissante de main-d'œuvre dans le secteur de la logistique Que vous soyez une petite ou une grande entreprise, découvrez comment notre plateforme web logistique innovante peut rationaliser les processus, stimuler la transparence et optimiser votre main-d'œuvre. Inscrivez-vous gratuitement : https://lnkd.in/ek7w76Yt

Yesterday, we hosted our second Inclusive Growth Dialogue of 2024 in partnership with the Greater Nanaimo Chamber of Commerce and the Vancouver Island Economic Alliance. This event aimed to raise awareness about the importance of economic reconciliation and foster meaningful relationships with local Indigenous communities. A special thank you to Erralyn Joseph, Desiree Baker, Jeniffer Gallic, Trevor Cootes and Kear Pottris for generously sharing their experiences and expertise with us. Some takeaways from the conversation included: ➡️ It all starts with education and the intention to learn from the past and do better for future generations ➡️ Patience is essential. Take the time to understand the challenges and opportunities when working with local Indigenous communities ➡️ Don’t hesitate to reach out to the local community and ask questions. Sometimes, all it takes is an invitation to share a meal or have coffee together to begin the dialogue. ➡️ Adapt your policies to remove barriers and actively support the Indigenous economy. ➡️ Approach relationship-building with an open heart and mind Our next stop is Kingston, Ontario on November 7. Register for free to join us: https://lnkd.in/eDBMmcx2

Today, the Bank of Canada announced a significant 50 basis point rate cut that many in financial markets, businesses, and consumers had anticipated. According to our Chief Economist, Stephen Tapp, inflation pressures have eased considerably, revealing the weak economic fundamentals in Canada. Looking ahead, he believes there’s little reason for the Bank to slow down this more aggressive approach to rate cuts in the coming announcements. Read his full commentary to find out more: https://bit.ly/3AdVoS1

According to the latest International Tax Competitiveness Index, Canada’s ranking suffered because of the government’s new tax increase on capital gains, which was “well above the respective OECD averages” — 35.7% on capital gains compared to 19.7% in other developed nations. Canada’s digital services tax (DST) was also listed as a weakness in the Canadian tax system, contributing to its worsening tax competitiveness ranking. Find out more about how recent tax increases are driving away investment in Canada below ⤵️ https://lnkd.in/evQkxgr4

The small businesses with high-growth potential and expectations might not be the ones you have in mind. While many Canadians think of the tech sector when considering firms with high-growth potential, our new report from the Business Data Lab reveals that the common characteristics of small businesses likely to project high growth are quite different. These firms typically: ☑ Have 5–19 employees ☑ Have operated between 3–10 years ☑ Are located in Ontario and Quebec ☑ Are based in manufacturing, accommodation and food services, or professional services ☑ Are owned by immigrants or visible minorities ☑ Are exporters “This bucks our common misconceptions about tech firms being those most poised to grow,” says Marwa Abdou, the report’s lead author and BDL Senior Research Director. Read the full report here: https://lnkd.in/eReq-ZEu #smallbusiness #cdnsmallbusiness #smallbusinesses #SME #techsector #ontariobusinesses #quebecbusinesses #canadianbusiness

Given the prevalence of small businesses in Canada’s economy, their strength and success not only impact the 70% of private sector workers they employ, but every Canadian too. In honour of #SmallBusinessWeek, we looked at four critical ways government policy on taxes, trade, and labour can enhance the small business landscape: ➡️ Reducing corporate taxes promotes business growth. ➡️ Offering tax credits incentivizes innovation. ➡️ Prioritizing trade infrastructure keeps goods moving. ➡️ Creating a strategic immigration plan helps keep businesses staffed. Check out our latest edition of Policy Matters, where we break down these key points for small businesses. https://bit.ly/4fcOmvw #smallbusiness #smallbusinessweek #smallbiz #SME