In late 2022, Halton Region Economic Development launched the 2022 Halton Region Business Conditions Survey in partnership with the Halton Local Municipalities to gain insight into the current business and economic conditions faced by local businesses as they recover from the pandemic.
Nearly 600 Halton businesses participated in the survey, with results indicating that the pandemic impacted revenues and liquidity and led to rising debt loads. Business owners identified inflation, supply chain disruptions, labour shortages and continuing economic uncertainty as the biggest challenges facing their business recovery. Still, survey respondents showed optimism for the months ahead:
Over 80 per cent of Halton business owners are forecasting steady or higher revenues in the next 12 months.
Two in five Halton businesses are intending to hire additional staff over the next year.
61 per cent of Halton businesses reported they were making productivity investments or capital expenditures in 2023.
The survey also asked Halton business owners, for the first time, about issues relating to climate change and sustainability that may be impacting their operations. Nearly half of survey respondents indicated they had some level of concern that climate change will impact their business over the next 10 years and 17 per cent of business are currently implementing climate change mitigations or adaptation initiative.
The 2022 Halton Region Business Conditions Results Report is available for download on the Invest Halton Resource Library page on halton.ca
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Contact us for assistance in expanding your business in Halton Region, or for additional information on the Halton economy. Explore our Resource Library to view a variety of reports, publications and videos. For more detailed statistics and historical trends, visit Halton Data Insights.
Overall construction value of building permits across Halton increased by 43 percent during the fourth quarter of 2022 compared to the same quarter last year (Q4 2021). Residential building permit construction value increased 74 percent to $734 million since Q4 2021. In comparison to other regions within the Greater Toronto and Hamilton area (GTHA), Halton’s development activity in Q4, on a per capita basis, ranked the highest. Industrial building permit construction value also showed a strong fourth quarter increasing by 107 percent over the previous quarter.
On November 30, Statistics Canada released the last series of data from the 2021 Census on the topics of education, labour, commuting. Halton Region Economic Development has developed two infographics related to the results. Census results show that 78 per cent of Halton’s population between the ages of 25 to 64 held a post secondary degree, which represents the highest post-secondary attainment within the Greater Toronto and Hamilton area (GTHA). The labour infographic shows that Halton’s labour force reached 320,175 people in 2021. Notably, 39 per cent of Halton’s employed residents worked from home during the 2021 Census year, up significantly from prior Census years due to the COVID-19 pandemic.
The Halton Small Business Centre is celebrating Black History Month by recognizing and honoring the contributions of Black small business owners and entrepreneurs. Their hard work and determination have played a crucial role in shaping our economy and society, and we are grateful for all that they do.
Small business owners and entrepreneurs are the backbone of our economy. They create jobs, stimulate economic growth, and provide vital goods and services to our communities. They also play a critical role in fostering innovation and entrepreneurship.
Black small business owners and entrepreneurs have faced many challenges throughout history, including discrimination, lack of access to funding, and limited opportunities. Despite these obstacles, they have persevered and made significant contributions to our economy and society. They are trailblazers and role models for future generations of small business owners from all backgrounds.
We should all take the time to support Black-owned businesses and entrepreneurs. This can be done by shopping at Black-owned businesses, investing in Black-owned companies, and mentoring Black entrepreneurs. By regularly and consistently supporting Halton’s Black small business owners and entrepreneurs, we are helping to create a more equitable and inclusive economy which benefits everyone.
As we continue our commitment to supporting Black-owned businesses and entrepreneurs this Black History Month, and all year round, the Halton Small Business Centre would like to highlight just a few of our outstanding clients:
Anthony Pereira, A+ Smoodees
Anthony Pereira is the owner of A+ Smoodees, a vegan and gluten free smoothie company that takes the best of what nature has to offer. A+ Smoodees has been in operation since 2016 and their mission is to bring healthy awareness to the masses through deliciousness. Their products are made from all-natural, whole foods without any additives or chemical preservatives.
As a Physiologist and a practitioner concerned with the end user’s experience, Anthony wants customers to experience how great good food can make them feel and understand the why’s behind it.
Anthony came to the Halton Region Small Business Centre to attain financing and was guided to create a business plan. He started working with a Business Consultant who was able to assist him with the right resources. “The Halton Small Business Centre has been so helpful with regular check-ins, providing updates on new resources and grant opportunities”, said Anthony.
Anthony’s goal is to open a retail location in 2023 and to have more financial autonomy to put his other business aspirations in motion. Anthony’s advice to entrepreneurs is to “get a mentor to help you with your business start-up journey, and don’t forget to try to enjoy the wins!”
For more information about A+ Smoodees, please visit:
Waneta Ryan is the founder and owner of the company Box/Die, which has created a line of size-inclusive men’s and ladies activewear with built-in support for knees, backs and wrists. Physical fitness and movement has been a part of Waneta’s life for almost two decades. She was dealing with a recurring knee problem and struggled with finding effective, size-inclusive support garments. Waneta leveraged her 16 year career in fashion to create fashionable activewear with functional support.
Waneta recently participated in the Halton Small Business Centre’s Starter Company Plus training program for new entrepreneurs and was a one of the program’s successful grant recipients. “Through Halton’s Starter Company Plus program, I learned so much valuable information on how to be a better entrepreneur by doing my research to better understanding my customers”, said Waneta. With the help of the $5,000 Starter Company Plus grant, Waneta was able to produce several prototypes, perfect her concept, and produce an entire Spring 2023 ad campaign, featuring e-commerce, lifestyle and inspirational content.
On January 6, Statistics Canada released the Labour Force Survey data for Q4 of 2022. The data shows a consistent downward trend in Halton’s unemployment rate for 2022. The Region’s unemployment rate averaged 3.8% during the fourth quarter, down from 6.6% in Q1 and lower than that of Toronto and Hamilton CMAs. Meanwhile, Halton’s labour force participation rate averaged 70.3% in Q4, higher than the pre-pandemic rate in Q4 2019 which stood at 68.8%.
As we kick-off 2023, it’s a great time for small business owners to reflect on the past year and set new goals for the future. Making resolutions can be a helpful way to focus on areas of your business that you want to improve or grow.
Here are a few New Year’s resolution ideas for small business owners:
Focus on financial planning: Take the time to review your financials from the past year and create a budget for the upcoming year. This can help you identify areas where you can save money and make more informed decisions about where to allocate your resources.
Invest in your team: Your employees are the foundation of your business, so make sure to invest in their professional development. This could include offering training or education opportunities, or simply taking the time to listen to their ideas and concerns.
Expand your marketing efforts: In today’s competitive business landscape, it’s important to stand out from the crowd. Consider ways you can reach new customers through social media, email marketing, or other channels.
Streamline your processes: Take a look at your business processes and see if there are any areas where you can streamline or automate tasks. This can save you time and money, and help your team work more efficiently.
Focus on customer satisfaction: Your customers are the lifeblood of your business, so make sure you’re doing everything you can to exceed their expectations. This could include offering excellent customer service, gathering feedback, and finding ways to improve your products or services.
Making New Year’s resolutions can be a great way to stay motivated and focused as you work to grow your small business. Remember to start small and be realistic about what you can achieve, and don’t be afraid to ask for help if you need it. Wishing you a successful and prosperous new year!
Throughout 2022, Halton Region Economic Development is releasing a series of infographics coinciding with Statistics Canada’s data releases from the 2021 Census. On October 26, Statistics Canada released results related to Immigration, place of birth, citizenship, ethnocultural and religious diversity and mobility and migration. Below is Census Infographic 6a relating to ethnocultural and religious diversity in Halton. Results show that 36 per cent of Halton population represents visible minority groups, the highest being located in Milton. Furthermore, 54 per cent of Halton residents reported Christian faith, and 10 percent reported to belong to Islamic, the second largest religion in Halton. The next census infographic will be related to education, labor and language of work.
Throughout 2022, Halton Region Economic Development is releasing a series of infographics coinciding with Statistics Canada’s data releases from the 2021 Census. On October 26, Statistics Canada released results related to Immigration, place of birth, citizenship, ethnocultural and religious diversity and mobility and migration. Below is Census Infographic 6b relating to immigration, place of birth, citizenship, mobility and migration in Halton. Results show that 31,385 first generation immigrants settled in Halton from 2016 to 2021 the majority being in the age range of 24 to 44 years old. Furthermore, results revealed that 67% of new immigrants who moved to Halton between 2016 and 2021 were born in Asia. The next census infographic will be related to education, labor and language of work.
As we approach the end of another year, the Halton Region Small Business Centre would like to take a moment to wish our clients and partners a happy and prosperous new year.
2022 has been a challenging year for many businesses, but we are proud of the resilience and adaptability that our clients have shown in the face of adversity. We have seen many new small businesses launch successfully, and existing businesses pivot to new services, products, and delivery methods in order to serve their customers.
As we look ahead to 2023, we are excited to continue supporting our clients and helping them grow and thrive. We will continue to offer a range of services, including business advice, training and workshops, networking opportunities, and access to funding and grants.
We would like to thank our clients and partners for their continued trust and support, and we look forward to working with you in the year ahead. Here’s to a successful and profitable 2023!
If you need any assistance with your start-up or existing small business, please contact us and visit www.halton.ca/smallbusiness for more information. Please note that our offices are closed over the holidays and will open virtually on January 3rd, 2023.
Sincerely,
The Halton Small Business Centre Team
Stephanie Mazhari, Navjot Chhinzer, Chris Janzen, Sabah Kazmi, Prince Khan & Beata Walters
Are you opening/reopening/renovating your business? To make it simpler and easier for businesses to notify Public Health, we have launched a new online notification form. If you are unable to submit this online form, please contact 311 and ask to speak to a Public Health Inspector.
Use our convenient online form to notify Public Health when opening, reopening or undergoing renovations.
By completing the online notification form, you are fulfilling your responsibility as a business owner/operator to inform Public Health of any opening/reopening or changes to your business. Public Health reviews all completed forms and will follow up with the owner/operator within 2 business days. Depending on the specifics of the opening, reopening or renovations, a public health inspector may be required to visit your premises.
If you have any questions about the new online notification form or would like to learn more about the services and programs offered by the Halton Small Business Centre, please visit us online at www.halton.ca/smallbusiness or email: smallbusiness@halton.ca.
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