How Confident are Ontario Businesses?

The Ontario Economic Report offers a unique perspective on the experience of businesses of all sizes across the province. This year’s report reflects the uncertainty of 2023 and the continued disruption businesses are facing from labour shortages to climate change to the rising cost of doing business. The report provides us with a powerful foundation for a business-led advocacy agenda that is timely, data-driven, and represents the real challenges of the business community.

Key highlights:

• Business confidence has dropped to a new low, with only 16 percent of organizations expressing confidence in the outlook of Ontario’s economy in 2023 (down from 29 percent in 2022), with inflation and labour shortages being primary concerns for organizations.

• Despite low confidence in the economy, 53 percent of businesses are optimistic about the outlook and growth prospects of their own organizations, as high employment rates and population growth should prevent a sharp decline in consumer spending.

• Labour shortages are directly impacting most employers and 87 percent of large businesses. Shortages are especially acute in education, construction, and accommodation and food services.

As our members focus on growing their business in the face of challenges, we continue to work with economic partners and elected officials to drive solutions for labour shortages, rising costs and creating a competitive business environment. Addressing barriers to business is paramount to improving business confidence in our nation’s capital. When businesses succeeds, our economy grows and our community thrives.

Do you have ideas about the future of downtown Ottawa? 

Sueling Ching, President and CEO, OBOT stressed the importance of public involvement from all Ottawa residents in rebuilding the heart and soul of our community, our culture and our economy in a recent article by the Ottawa Business Journal.

As an engaged member of the Downtown Ottawa Revitalization Task Force,

we invite you to share your thoughts on ways to improve our downtown core. Now is the time to reimagine a resilient and revitalized downtown. One that drives affordable, inclusive, and sustainable city building and integrates our Indigenous heritage. It is an opportunity to build forward better and create vibrancy in the city core all day, every day.

Online public consultation is now open! 

Calling all young leaders in the Nation's Capital!

The Ottawa Board of Trade and Ottawa Business Journal are once again looking for individuals who demonstrate business acumen, community leadership and a commitment to excellence.

The Forty Under 40 recipients, 1,000 in total, include some of our region's most successful and community minded leaders. If you or someone you know is under 40 years old, is an achiever and making a difference in their industry and our city, nominate today!

Get Engaged with Your Ottawa Board of Trade

February 13 | 1:30 PM to 2:00 PM | Virtual

Are you interested in learning about your Ottawa Board of Trade (OBOT)? Don't miss the last Maximize Your Membership of February with Rosalind Chen, Coordinator, Member Services, to learn more about the benefits of membership! Heather Allin, Doucett Insurance, will share an overview and benefits of the Chambers of Commerce Group Insurance Plan.

 New members, future members, and existing members are invited to attend as a great information and refresher session.

Everyone enjoys good savings, right? 

Take advantage of the purchasing power that membership with the Ottawa Board of Trade offers! With an extensive selection, shop items like office supplies, technology, furniture and print and promotional products.  

THANK YOU RENEWING MEMBERS!

The Ottawa Board of Trade is an independent, non partisan, purpose driven not-for-profit, with a 165-year track record of advocating for business, economic growth and community prosperity. Please reach out and say THANK YOU to our members who ensure Ottawa has a strong voice of business at every level of government.

• Algonquin College
• Binks Insurance Brokers
• Centennial Glass
• FlexNetworks
• J.L. Richards & Associates Limited
• KRP Properties

• Martello Technologies
• O'Connell-Campbell Wealth Management
• OLG
• Print three
• Tasico Hospitality