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Greater Niagara Chamber of Commerce

Daily Update: December 12, 2022

Statistics Canada says household debt-to-income ratio climbed higher in 3rd quarter, one-time top-up to the Canada Housing Benefit, and more.

In this edition:

Statistics Canada says household debt-to-income ratio climbed higher in third quarter

Canadian households’ debt-to-income ratio rose in the third quarter as rising interest rates affected the cost of borrowing.

There was $1.83 in credit market debt for every dollar of household disposable income in the third quarter of 2022, Statistics Canada said Monday, up less than a penny from the second quarter and up from $1.77 a year earlier.

The record for household credit market debt as a proportion of household disposable income is 184.6 per cent, or almost $1.85 in debt per dollar of disposable income, set in the third quarter of 2018.

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One-time top-up to the Canada Housing Benefit 

Applications are now open for a previously promised top-up to the Canada Housing Benefit program that will see millions of low-income Canadians receive $500 in rental subsidy.

In an attempt to help Canadians struggling with record-high inflation and soaring rental prices, the Canadian government’s one-time payment of $500 to eligible renters is taking applications starting today.

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Countries commit to the sustainable development and sourcing of critical minerals

Today, the Honourable Jonathan Wilkinson, Minister of Natural Resources, announced at COP15 that Canada, along with Australia, France, Germany, Japan, the United Kingdom and the United States, are launching the Sustainable Critical Minerals Alliance to drive the global uptake of environmentally sustainable and socially inclusive and responsible mining, processing and recycling practices and responsible critical minerals supply chains.

The Alliance aligns with the G7 2030 Nature Compact commitment to halt and reverse biodiversity loss by 2030 through a globally wide system change to reduce greenhouse gas emissions (GHGs) with a focus on sustainable and inclusive development.

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Ontario expanding access to MRI services across the province

Ontario is investing more than $20 million in operating costs to run 27 new magnetic resonance imaging machines across the province. Health Minister Sylvia Jones says the money will be geared toward small and rural hospitals who do not yet have MRI machines. This funding will provide hospitals in all regions of the province with annual operational funding for new MRI machines.

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Niagara Falls Convention Centre recognized for commitment to making facility more accessible, inclusive to guests

Niagara Falls Convention Centre has become the first convention centre in Canada to be certified Sensory Inclusive by KultureCity.

Officials with the Stanley Avenue venue said the partnership with KultureCity, which is a leading non-profit organization recognized nationwide for using its resources to revolutionize and effect change in the community for people with sensory needs, not just those with autism, is part of the centre’s commitment to make the facility more accessible and inclusive to everyone attending an event.

To receive this new certification, the Niagara Falls team was trained by leading medical professionals to better recognize guests with sensory needs and how to handle sensory overload situations – enabling the centre to promote an accommodating and positive experience for all visitors.

In addition to training, the building is now outfitted with sensory bags that people can borrow during an event and visit dedicated quiet spaces.

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Niagara-on-the-Lake launching snow plow tracking website

Niagara-on-the-Lake is launching a new snow plow tracking software.

Residents will be able to track snow removal services through real-time updates.

The system will monitor where salt and sand have been distributed, what roads and sidewalks have been cleared, and where snowplows have been within the past 30 minutes.

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Canadians’ awareness of when they have COVID-19, May to August 2022

The COVID-19 pandemic continues to impact the daily lives of Canadians as the country enters its third winter of the pandemic. Statistics Canada, in partnership with the Public Health Agency of Canada (PHAC) and Canada’s COVID-19 Immunity Task Force (CITF), conducted a second cycle of the Canadian COVID-19 Antibody and Health Survey to better understand the spread and long-term impacts of COVID-19. This unique survey combines self-reported information about past and current infections with physical measures obtained from testing a representative sample of Canadians for the virus using a polymerase chain reaction (PCR) test, as well as a test to detect antibodies from vaccination and infection. This combined information on the survey allows for a better understanding of how often infections go undetected or unsuspected by Canadians.

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Focus on Small Business

Small businesses play a big role in supply-chain resilience

Small and midsize companies are essential to supply chains, but they lag in productivity and technology adoption. If government and industry can help these smaller supply chain firms upgrade their technology, it would make supply chains significantly more resilient by enabling data-sharing and collaboration.

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Establishing brand authority matters for small businesses: Four ways to leverage your brand

Behind the apparent overnight success of any viral brand, there is a culmination of essential steps and strategies that helped them build their authority to firmly influence the public.

Starting a business isn’t a breezy walk in the park. It can be challenging to stand out in an overly saturated market and equally daunting to traverse a path of uncertainty toward a goal of high conversion rates and booming success. But defining a niche, refining one’s skills and becoming an expert, can create the authority to become one’s brand’s voice.

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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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