| 2025, can we get a do-over? Tariffs are here, they’re real…and since we wrote this on Sunday night, they’re not here. Maybe. But Maybe on March 1st! Regardless, as Justin Trudeau said in his recent address to the US & Canadian people – it’s time to refocus on our country’s incredible tourism, homemade products, and bolstering our artists & businesses. However long this uncertainty lasts, we think it’s time to build Canada’s internal business capacity anyway. Over the last month, we’ve been working on a new strategy for the BWA – and it just happens to coincide with the momentum of the moment – buy Canadian & support good local businesses. Our BWA business directory is undergoing a major upgrade so we can add more images, videos & optimize SEO. So here’s where you come in – we want to improve your listing. All you have to do is: 1) Review your current listing2) Let us know if you want to add more videos/images or update copy3) We’ll get ‘er done As Aaron wrote on LinkedIn Sunday morning: “It’s time to mobilize Canadian networks & capital to bolster our local businesses and maximize our internal partnerships.” If you have fellow business owners you think would be a good fit, please refer them so we can grow the BWA network. Some of you are directly and deeply affected by these tariffs – and others are trying to figure out lingering debt + already high costs. We can’t promise a solution to everything that you’re facing – but we’re here if you need to bounce ideas around. Reach out anytime. We can’t get a do-over on the last month, but we can move forward together and build the resilience our businesses need to succeed. – Lili & Aaron |
| Time to Ditch Provincial Barriers? Federal Minister of Internal Trade and Transport, Anita Anand, is pitching a long time desired idea – reduce provincial trade barriers. We think it’s high-time – do you? See what this could look like in her op-ed. |
| Ontario Election Portal is LiveHey Ontario – did you also forget that we have an election underway? Last week (although it feels like a year ago) we launched our election portal. Check out some ideas – and get the questions to ask your local candidates. |
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| Trump’s tariffs are here (in a month?): An opportunity to double down on Canadian resourcefulness President Trump’s announcement of the 25% tariffs on an extensive list of Canadian goods has caused great worry leading up to this moment. Flags are up, as is patriotism, while markets are down. This is a difficult time for Canadian small business owners, and a time for the creativity and resourcefulness this community is known for. With costs rising at home, and the prices of inputs from America rising, the immediate concerns for small businesses are finding supply chain alternatives and new non-U.S. markets for our products. This could be a time to lean into new relationships – and with Trump threatening several countries and regions, we may find suppliers in alternative markets eager to build new trading networks. If you’re looking for alternative suppliers or new export markets, consider exploring resources from Export Development Canada. Collaborate with BWA Members Secondly, expand your Canadian networks to find opportunities to collaborate. Reach out to other folks in the BWA network – maybe there are folks who you can partner with to share costs, resources, promo opportunities, or information. Check out our BWA directory to see who’s in your network. If you’re looking for a specific supplier, cost-sharing partner, or collaboration opportunity, reach out to Aaron– he may have an idea of who to connect you to. Communicate With Staff We would be remiss if we didn’t mention seeing your staff as an asset during this time. Employees may be nervous about job security as costs rise significantly once again — and COVID is still fresh in our minds. You can use small but meaningful ways to show staff your appreciation to reinforce trust and motivation while keeping costs down. For example: >> Throw a fun staff party (pin the tail on the tariff sheet?) >> Cater a lunch from a local restaurantPlan group volunteer day. Food banks are being used more than ever – perhaps there’s an opportunity to build your team and capacity for these valuable orgs? >> Set up a “wins” board to recognize your employee’s great performance. >> Showing appreciation with old-school handwritten notes can work if your handwriting is more legible than Aaron’s. >> Most importantly, keep employees informed about how your business is responding to these challenges. Open communication gives them confidence in your leadership and a better understanding of your priorities and values. Lean Into Your Customers Customers are more conscious than ever about where they spend their money. Consider a marketing strategy about how tariffs impact your costs—many consumers will want to support businesses navigating these challenges. Customers are feeling the sting too, but many customers will make choices to support local Canadian vendors where they can. In the longer term, if you are thinking of selling your business, be aware that a weaker Canadian dollar means U.S. buyers might be looking to acquire Canadian companies. Keeping Canadian companies local is an important element of a strong economy and future opportunities. If you’re considering existing your business in the near future, have a look at Jon Shell’s posts on LinkedIn to understand why Canadian ownership matters for jobs, wealth, and economic security. We have heard rumours that the federal government will support Canadians and businesses affected by potential tariffs, but we’ve not seen anything concrete yet. Telling Your Story Our team is advocating for you by launching press releases several times a week. We’ve already gotten picked up by the CBC Local, Canadian Press, and The National for potential stories based on our perspectives. Journalists are interested in stories of how businesses are adjusting their plans and dealing with the changes. If you’re interested in sharing your experience with the media, let Lili know. We’ll make sure you are prepared and supported! BWA members are creative problem-solvers, resourceful operators, and leaders in finding new ways of doing things — that’s what gives you your competitive edge! If you have a strategy or resources to share with the network, share it with us and we will pass it along – your leadership matters. |
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| Four Big Ideas for Ontario’s Next Government Ontarians go to polls on February 27th, 2025 to elect a new provincial government. It is a critical moment – business owners are already experiencing rising cost of goods, rent, and insurance. We have ideas on how a new government can put small businesses front and centre of a stronger Ontario. This network already knows – over 97% of businesses in Ontario are small/medium businesses. We fuel Ontario’s economy and create jobs in every community. Ontario needs leadership that will reduce barriers to competition and maintain balanced, transparent markets accessible to all entrepreneurs. It needs to reduce red tape that adds cost and time to small business transactions, and reduce restrictive costs that eat away at our investments in productivity and jobs. Here are four ways the next elected Ontario government could truly support small business needs: Idea 1: Counter unsustainable insurance rates that are pushing businesses to the financial brink We recommend creating a Crown corporation insurance provider that introduces more competition and choice into the market. Running a similar model to the BDC, which picked up an untapped section of the market at a time when commercial banks weren’t offering products suitable for small businesses and entrepreneurs, a provincially-backed insurance provider could act as a new entrant in the insurance market that improves selection and stabilizes your costs. A provincial insurance provider could be set up to be a self-sustaining market actor in the long-run that drives innovation and GDP in the Ontario economy. Idea 2: Combat red tape around leases and soaring commercial rent costs that are leading to business closures We recommend establishing fair rent rules and guidelines according to the BWA Commercial Renter Bill of Rights. Small businesses across Ontario are facing skyrocketing rents. In Toronto, retail rents are up 68.5% on average in a single year (TRREB). Our Bill of Rights will give local businesses the stability they need to thrive and grow. Idea 3: Reduce the barriers that prevent small business owners from purchasing their commercial-purpose properties We recommend creating a Local Ownership Mortgage Program to de-risk the transaction for qualified entrepreneurs and their families. Helping businesses purchase commercial spaces means small businesses will have reduced reliance on volatile rental markets and fewer overhead costs. This frees up cash for reinvestment in the enterprise. But mortgage requirements for small commercial properties don’t always reflect the reality of small business cash flow or assets. A new program directed at small business owners can put more commercial properties into the hands of the business leaders who are directly invested in the vibrancy of the space and neighborhood around it. Idea 4: Enable new buyers to purchase existing businesses upon the owner’s retirement We recommend reducing the red tape around group ownership and establishing a NextGen Ownership Fund. Ontario is ripe for innovation – the silver tsunami is creating an opportunity for talented entrepreneurs to grow existing companies, maintain local flavour, and unique company culture. We propose start-up capital & guidance to banks on how to finance transactions so eager entrepreneurs can revitalize a portion of the $2 trillion in assets held by retiring owners – maintaining and creating jobs and provincial revenue. |
| OK, that’s for the government – and as for each one of us? We can make an impact, too. Your most important actions, as a voter, are to VOTE! and to ask your local candidates what their plans are to support local businesses. Let’s make sure candidates are listening to what Ontarians need for a healthy economy, jobs, and opportunities for us regular folks! |
| NEW MEMBER: Welcome Nexus Consultants! Last year, Brett Thalmann reached out about membership for Nexus Consultants – they didn’t have an employee yet but wanted to become part of the BWA. As of January, we’re glad to say that Nexus has hired a staffer and is the BWA’s newest member! Nexus is a team of builders at the crossroads of government, advocacy, and business. A boutique strategy firm founded in 2022, they specialize in helping impact-driven organizations transform their vision into reality through meaningful engagement across the Canadian public sector. As they say “We are architects of possibility – looking beyond current limitations to build new pathways to success for organizations focused on technology, civil rights, healthcare, the environment, and financial services. Our work spans federal, provincial, and municipal levels, engaging with politicians, public service, crown agencies, regulators, and other public institutions.” Welcome Nexus – we’re glad to have you here! |
| In The News We got picked up for a “Big Ideas” piece in a national magazine (yes! magazines! remember them?). >> Our first pop-culture magazine article in Canadian Business about commercial rent modernization >> Politico ran an in-depth piece on Canada’s potential retaliation against U.S. tariffs – but this space will change quickly! >> Why Amazon is closing its Quebec warehouses in favour of outsourcing to contractors (and boy, do we have opinions about that one) >> Prolific Canadian Journalist Tara Deschamps published a great explainer: From made in Canada to product of Canada: How to make sense of Canadian labels |
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