In this edition:
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- Applications open for Grow Your Business Online grant
- Ontario commits $4bn to broadband internet expansion
- Non-residential construction decline behind overall June permit decrease
- Governments of Ontario and Canada call out “unfair duties” on softwood lumber
- 13 for 13 cultural festival to be held August 14
- Niagara-on-the-Lake Council Chambers reopen to public
- Trillium Foundation supports $146,900 investment in Pelham library
Applications open for Grow Your Business Online grant
As part of the Canada Digital Adoption Program, the Government of Canada has partnered with the Ontario Chamber of Commerce to deliver the Grow Your Business Online grant.
Through this program, small business owners can receive a micro-grant worth up to $2,400 to help get their business online, give their e-commerce presence a boost, or digitalize business operations. Grant recipients must commit to maintaining their digital adoption strategy for at least six months.
In addition, e-commerce advisors will be available to work with grant recipients to help identify their digital needs, provide links to digital resources, help with completing applications, and answering questions on the Grow Your Business Online program.
Click here for more information and to check your eligibility.
Ontario commits $4bn to broadband internet expansion
The Ontario government is bringing high-speed internet access to up to 266,000 unserved and underserved homes and businesses, marking another milestone in its stated goal to help connect every corner of the province by the end of 2025.
The province has signed agreements with eight internet service providers to bring access to as many as 339 municipalities across Ontario. The internet service providers were selected through a two-stage competitive process and are part of Ontario’s historic investment of nearly $4 billion to bring access to reliable high-speed internet across the province.
Bell Canada and Rogers have both received funding under the plan to expand internet access in Niagara.
Non-residential construction decline behind overall June permit decrease
The total value of building permits in Canada declined 1.5% in June to $11.9 billion, mainly due to the non-residential sector, which dropped 10.4% to $3.7 billion, after posting its second-highest monthly value.
The value of residential permits in June increased 3.1% to $8.2 billion nationally.
The value of multi-family building permits increased 6.5%, with Ontario (+24.8%) leading the way, due to several apartment buildings being built in Mississauga. Overall, 15 out of the 20 highest value permits submitted across all sectors were for apartment or condo buildings.
Governments of Ontario and Canada call out “unfair duties” on softwood lumber
In a statement made today, the Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, expressed disappointment that the United States will continue to impose “unwarranted and unfair” duties on Canadian softwood lumber.
Graydon Smith, Ontario Minister of Natural Resources and Forestry, and Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade, concurred and asked for all duty rates to be removed immediately, although they reiterated support for the U.S. Department of Commerce’s recent decision to lower the duty rates on Canadian softwood lumber exports.
Ontario’s forest sector generated $18 billion in revenue from the sale of manufactured goods and services in 2020 and supported more than 148,000 direct and indirect jobs in 2021.
Going forward, the new combined “all others” rate that will apply to exports from companies that are subject to the third administrative reviews is 8.59%. The current “all others” rate for most companies is 17.91%.
13 for 13 cultural festival to be held August 14
On Sunday, Aug. 14, bring yourself, family and friends to Canada Games Park anytime between 11 a.m. and 10 p.m. for Niagara Region’s 13 for 13 Cultural Festival event, in partnership with the Province of Ontario and FirstOntario Credit Union.
The all-day event includes free admission and live performances by Splash’N Boots, Deanne Petcoff and Scott Helman. There will be merchandise booths, local vendors, food trucks, a farmers market and kids programming for guests of all ages to enjoy. This is an opportunity for Canadians to come together in celebration of what makes this country so special.
Niagara-on-the-Lake Council Chambers reopen to public
On Monday, August 22, the Town of Niagara-on-the-Lake’s Council Chambers at Town Hall will reopen to members of the public and media personnel for Council, Committee of the Whole (COTW), and Planning Public Meetings.
Initially, the Chambers will reopen with a capacity limit of 30 people (excluding Council Members and Staff). The capacity limit is a temporary measure to ensure the Town’s reopening efforts continue to be safe and gradual. Individuals wishing to attend an upcoming COTW or Council meeting are requested to register via email to the Town’s Clerks’ Division at clerks@notl.com by noon (12:00 p.m.) on the day of the meeting. Registrants will be advised via email if the meeting capacity is reached.
Trillium Foundation supports $146,900 investment in Pelham library
The Lincoln Pelham Public Library is improving services with technology through support from $146,900 in grant funding from the Ontario Trillium Foundation’s (OTF) Resilient Communities Fund. This grant, awarded to the Town of Pelham in April 2022, will be administered over the next 12 months by OTF, and will support the implementation of self-service lending at the Lincoln Pelham Public Library.
Focus on Markets
Canadian trade surplus grows on crude oil and gold exports
Statistics Canada
In June, Canada’s merchandise exports increased 2.0%, mostly on crude oil and gold exports, with 8 of 11 product sections posting increases. This was the sixth consecutive monthly increase for Canadian exports, the first time this has happened since 2013. Meanwhile, imports rose 1.7%, mainly on energy products. As a result, Canada’s merchandise trade surplus with the world widened from $4.8 billion in May to $5.0 billion in June.
Bank of England raises rates by most since 1995 despite recession’s approach
Reuters/Yahoo! Finance
The Bank of England raised interest rates by the most in 27 years on Thursday in an attempt to smother surging inflation on track to top 13%, even as it warned a long recession is coming.
Reeling from a surge in energy prices after Russia’s invasion of Ukraine, the BoE’s rate-setters voted 8-1 for a half percentage-point rise in Bank Rate to 1.75%, its highest since late 2008.
The big hike had been expected by most economists in a Reuters poll as central banks around the world scramble to contain soaring prices.
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.
