Today’s job numbers: Light at the end of the tunnel for some, continued economic scarring for many

(OTTAWA) – June 4, 2021 – The Canadian Chamber of Commerce’s Senior Director of Workforce Strategies and Inclusive Growth, Leah Nord, issued the following statement regarding today’s Labour Force Survey numbers.

“Today’s job numbers yielded no surprises as the labour market stagnation continues amid lockdowns in key provinces like Ontario, Quebec and Alberta. The next few months could also be unsurprising as a sharp rebound in employment is widely expected as these provincial economies begin to gradually reopen. Turning our attention to getting Canadians back to work will be a welcome reprieve.

But let us be clear, the coming rebound in jobs is not a recovery in jobs. The rate of unemployment as a result of COVID is roughly 70% greater than that of the Great Recession where it took more than 10 years for the labour market to fully recover. It’s more than likely a labour market recovery from the pandemic could take years if not decades. We are nowhere near out of the woods.

What’s different this time is the precipitous permanent closing of businesses. As the COVID-19 crisis continues, more employer–employee bonds break, amplifying the economic and societal damage. With more than 100,000 businesses now permanently closed, the ability to add new jobs is exponentially supressed. What we’re seeing right now is masking a devastating cumulative impact that will play out over the next decade.

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Why delaying your next equity raise could pay off big

If your company is in growth mode, chances are you’re looking for more cash to fuel that growth.

Our experience is that many entrepreneurs looking for growth capital will first think of reaching out to venture capital, private equity and angel investors, or even tapping public markets. After all, many of the world’s largest companies grew this way, why shouldn’t you do the same thing?

There is, however, some downside to equity investments. By giving away a part of your business now, you will be giving up a portion of your company and its future profits, which could result in you losing control over the direction and governance of your business.

By delaying your equity raise for a time and opting instead for non-dilutive financing, you may be able to get a much better deal from your equity partner(s) and keep more control over your company

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Ontario Chamber Partners with Federal Government to Support Shop Local investment for Small Business

(TORONTO – June 21, 2021) – The Ontario Chamber of Commerce and Ontario Chamber Network are partnering with the Government of Canada to support small businesses through a new initiative, Shop Local, an investment of $33 million across Canada to encourage Canadians to shop local.

Making the announcement from Butter Baker Bakery in Markham, Minister Ng also announced, as part of this investment, that nearly $9 million will be invested in Ontario, through the Ontario Chamber of Commerce, to support businesses as they reopen so they can stay open and thrive in recovery. The funding will be provided through provincial and territorial chambers of commerce to support businesses to promote consumer confidence and local businesses.

“Small businesses are cornerstones of our local economies and key to thriving communities—creating jobs, driving innovation, and generating wealth for Canadians. Local businesses have always been there for us and need our support now more than ever,” said Rocco Rossi, President and CEO, Ontario Chamber of Commerce. “Together, with the help of the Government of Canada, chambers of commerce and boards of trade across the country, we can make a difference for local businesses and help move Canada’s recovery forward.”

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TECHNOLOGY

The KLCFDC has a number of technology resources that are available to you.

First of all, as part of the Canada Business Ontario (CBO) and the Canada Business Network (CBN), our offices are equipped with a public access workstation where you can connect to the Internet. As mentioned, this is a joint government venture with FedDev Ontario developed to provide access to information on Federal and Provincial government programs and services for small business.

We may also be able to connect you to other groups or organizations where you can perhaps either temporarily use or possibly secure a computer for your personal use. We can also assist with select offices services, such as small photocopying jobs or faxing. Finally, we will often print materials for clients who don’t have a computer readily available and may use an alternative method to the Internet to gain the access to what they need.

Access to our information and services is available free of charge, for your use from Monday to Friday, 9:00 A.M. to 5:00 P.M.

We do ask that you call us at 328-0261 extension 21 to insure that you will have a computer to work with when you need it.

The KLCFDC may also be able to provide the opportunity for you to secure a computer, for those who need even more computer time. We can provide work with you and our partners to look to provide these on a limited basis. We are also willing to help with selected office services, such as small volume photocopying or faxing.

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