Small Business Resilience Critical for Ontario’s Economic Growth

(TORONTO – October 14, 2022) – Emerging from the pandemic, supporting small business resilience and growth has never been more important and is a key theme for the Ontario Chamber of Commerce’s (OCC) annual Small Business: Too Big To Ignore campaign. The OCC is proud to partner with Desjardins to underscore the importance of small business success to support the province’s economic prosperity during Canadian Small Business Week from October 16-22, 2022.

“Ontario’s small businesses have shown tremendous strength and resilience throughout the pandemic. This Small Business Week, we are proud to partner with Desjardins to celebrate their hard-work, innovation, and adaptability, as well as advocate for the supports necessary to bolster small business success,” said Rocco Rossi, President and CEO, OCC. “98 % of all employer businesses in Canada are small businesses, yet they continue to face unique challenges related to accessing talent, capital, and markets. It is more important than ever that public policy focuses on removing red tape and other barriers to ensure they can continue to support our labour market and economy.”

Small business owners across the province continue to grapple with supply chain constraints, labour shortages, and inflation, impacting business predictability and their bottom line. To build small business resilience, an emphasis should be placed on workforce development strategies, infrastructure investments and technological adoption.

“We are delighted to partner with the OCC to celebrate the extraordinary work of small businesses across the province. At Desjardins, we recognize that small businesses are at the heart of our local economies and are vital to the communities they serve,” said Guy Cormier, President and CEO of Desjardins Group. “As North Americas largest financial cooperative, we continue to develop products and services that will improve the economic and social well-being of our society. We generate partnerships that align with these values and connect our members and clients with the resources they need to grow and succeed.”

Canadian Small Business Week takes place annually during the third week of October. To learn more about the OCC’s support for small businesses, go to www.occ.ca.

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About the Ontario Chamber of Commerce
For more than a century, the Ontario Chamber of Commerce (OCC) has been the independent, non-partisan, indispensable partner of Ontario business. The OCC’s mission is to support economic growth in Ontario by defending business priorities at Queen’s Park on behalf of its network’s diverse 60,000 members.

About Desjardins Group
Desjardins Group is the largest cooperative financial group in North America and the fifth largest cooperative financial group in the world, with assets of $404 billion. It was named one of the 2022 Canada’s Top 100 Employers by Mediacorp. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Ranked among the world’s strongest banks according to The Banker magazine, Desjardins has one of the highest capital ratios and credit ratings in the industry.

For more information, please contact:
Samir Janmohamed
Policy and Public Affairs, Specialist
samirjanmohamed@occ.ca | 647-916-3110

Backgrounder: Ontario Chamber of Commerce Small Business Advocacy and Resources

• Offering support to small businesses to help close the mental health action gap in partnership with Sun Life Financial through its Mental Wellness in the Workplace: A Playbook for SMEs.
• Recognizing entrepreneurial diversity as a powerful strategy for Ontario’s economic recovery and long-term prosperity in The She-Covery Project: Confronting the Gendered Economic Impacts of COVID-19 in Ontario. 
• Providing practical solutions to support small businesses as they fuel Ontario’s economic recovery vis-à-vis Capital is Key: Financing Entrepreneurship in Ontario After COVID-19.
• Highlighting acute challenges facing small businesses in rural, remote & northern communities, such as accessing capital being a longstanding barrier to expansion for First Nations entrepreneurs through Small Business, Big Impact.
• Putting a spotlight on issues such as property tax rates that prevent small businesses from being able to flourish within their communities, resulting in less economic activity in Better Budgets: Bolstering the Fiscal Resilience of Ontario’s Municipalities.
• Spotlighting the key policy priorities of Ontario’s small businesses in the Blueprint to Bolster Ontario’s Prosperity.
• Partnering with the Government of Canada to deliver the Canada Digital Adoption Program 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. To learn more, click here.
• Offering a unique perspective on the experience of businesses of all sizes across the province through the OCC’s flagship Ontario Economic Report.
• Providing small businesses with the tools and supports, including in-person workshops, webinars and online resources, they need to help businesses understand the Accessibility for Ontarians with Disabilities Act, why and how to become a more inclusive employer, and how to hire and retain talent from the persons with disabilities labour pool through the Discover Ability Network.