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Greater Niagara Chamber of Commerce

Daily Update: April 13, 2023

In this edition:

Canadians see sustained growth ahead in the digital economy, with technology likely to drive the success of small businesses: RBC Poll

Canadians remain convinced that technology will continue to play a critical role in the future of small businesses, signaling sustained growth ahead in the digital economy.

According to a recent RBC Small Business Poll, a majority of Canadians agree that not only have digital technologies made it easier than ever to start a business (69 per cent), they also enable a business to steadily grow beyond ‘day one’ by reducing the cost of running a business (72 per cent).

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Ontario government concludes business mission to New York

The Ontario government reports that it has concluded a successful business mission to New York City to promote the province’s financial services, information technology and life sciences sectors, and explore new opportunities for investment and job creation.

From April 10 to 12, Ontario met with leading companies in the financial services and information technology sectors, as well as several software development companies. This included meetings with Globant and Cockroach Labs, two New York-based software development companies that recently opened offices in Toronto.

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Grimsby’s Town Council approves 2023 budget

Grimsby Town Council has approved the 2023 budget with a 5.97 per cent increase to the Town’s portion of the tax levy, for an overall property tax increase of 6.30 per cent when combined with the regional and educational levies.

The 5.97 per cent increase to the Town’s portion of the tax levy results in residential property taxes increase by $97 per year ($8 a month), for an average residential household assessed at $442,000.

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Niagara-on-the-Lake issues business advisory on sign by-law

As Niagara-on-the-Lake transitions to the bustling spring and summer season, the Town wishes to inform business owners that the Town’s Sign By-law (By-law 4586-12) will once again be enforced.

Section 5.03 of this By-law states that all signs within the Queen-Picton Zone require a Heritage Permit and a Sign Permit prior to display, except Temporary Signs, which require a Sign Permit only. Sandwich Board Signs (A-Frame) are not permitted in the Queen-Picton Zone as indicated in Schedule “B” of the By-law.

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‘There is no one better system’ says retired political science professor about at-large versus ward system of governance

While people have long debated which system of electing city councillors is best for Niagara Falls — at large or by ward — a retired Brock University political science professor says “there is no one better system.”

“It depends on what people feel comfortable with in their community,” said David Siegel, who will be a guest at a discussion event about the issue later this month.

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Ontario partners with Indigenous leaders to protect the Great Lakes

The Ontario government is investing nearly $1 million to support Indigenous-led projects and increased collaboration with Indigenous organizations and youth to help protect and restore the Great Lakes.

David Piccini, Minister of the Environment, Conservation and Parks, made the announcement today at the seventh annual meeting of the Great Lakes Guardians’ Council, which Ontario co-chaired with Anishinabek Nation.

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Habitat for Humanity looking for community partners as it builds affordable homes

Habitat for Humanity Niagara updated Thorold city council Tuesday on its progress while also appealing for assistance in looking for new community partners.

Mark Carl, chief executive officer for Habitat for Humanity Niagara, said over the next year the organization will build homes in the community for low-income families and will need community partners to help achieve that goal.

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Here’s how a strike by public service workers could impact federal services

The clock is ticking towards possible strikes by tens of thousands of federal public service workers.

The Public Service Alliance of Canada announced Wednesday its members voted “overwhelmingly” in favour of a strike if a deal is not reached with the federal government. Last week, 35,000 Canada Revenue Agency workers voted in favour of strike action.

If the five large bargaining groups go on strike, many federal services could be affected, including processing tax returns and passports, and services with Indigenous Services Canada, Veterans Affairs Canada and Service Canada.

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Focus on Markets

Cryptocurrencies are in crisis, but they are not going to disappear

Cryptocurrencies are experiencing their worst crisis since the arrival of the first crypto assets and virtual currencies in the 1990s and their democratization in the 2010s.

Bitcoin had an unprecedented tumble in late 2020 and has yet to recover. In addition to this sharp decline, there is much discussion about the worrisome collapse of some so-called stablecoins, which are supposed to be less volatile.

As an expert in the field of cryptocurrencies, I will try to answer the following question: are cryptocurrencies really here to stay, or are they just a fad?

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Bank of Canada says inflation must be wrestled all the way to 2%

The head of the Bank of Canada told global policymakers that getting inflation back within its control range isn’t enough, reinforcing that interest rates may stay higher for longer.

Speaking at the International Monetary Fund in Washington a day after holding rates steady for a second-straight meeting, Governor Tiff Macklem stressed the primacy of the central bank’s 2 per cent target. He said bringing annual consumer price gains into the top of the 1 per cent to 3 per cent control range, which is forecast to happen in coming months, will be a relief but not a victory.

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Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.

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