2018 was a year of new opportunities and challenges.
Infrastructure decisions were made without business plans and organized public engagement. The hold on pipeline infrastructure investments, nationalistic policies in the U.S., trade uncertainty, free-trade agreements with no plan for port investments, rising interest rates, increased debt burdens, new taxes and…
Really, what is going on in our world?
Leadership and innovation in 2018 came from the business community – and will continue to emerge from that source in 2019. Ways of doing business are changing quickly. Businesses and organizations need to evolve and ensure that they are planning for the short term and long term. What was a reliable source of revenue will shift quickly.
When I heard about the General Motors plants closing not only in Ontario, but also in the United States, I thought we could be headed towards a recession in 2019. There could be a ripple economic effect throughout our country. But then Tesla came in and said it is considering taking over the targeted GM plants.
In Surrey, the work of the Lark Group and HealthTech Connex builds health-care technology innovation for the future.
The innovation and business leadership through the Surrey Board of Trade’s Youth Entrepreneurship Program saw students as young as in Grade 4 inventing, selling their products with business and financial plans and giving back to a charity of their choice, learning about the value of giving back to their community.
These are just a few examples of how the economy needs to be led by the private sector.
For businesses seeking to provide that leadership, I offer the following recommendations as we move into 2019:
•Utilize technology in new and amazing ways.
•Build face-to-face relationships to engage customers
•Even in economic uncertainty, invest in marketing.
•Social media works for business and profiling your product or service.
•Protect your business by being security conscious as cybercrime and fraud continue to be prevalent.
•Take planned risks and challenge the status quo.
In addition, don’t forget about adding your business voice to a local chamber of commerce or board of trade. For example, advocacy by the Surrey Board of Trade instigates change at different levels of government.
Chambers of commerce and boards of trade evolved from a need by merchants, traders, industrialists and early entrepreneurs to gather and discuss issues and concerns of the day. From these early forums rose a more organized approach to address public authorities, comment on the laws of the day and make recommendations to improve public policy as it affects economic development of a community.
While we have come a long way since 1599 (the earliest use of the term “chamber of commerce”) and our methods are much more sophisticated, the purpose remains the same. The Surrey Board of Trade supports business enterprises by engaging public authorities to address concerns and advocate for change in legislation and public policy where required. •
Anita Huberman is CEO of the Surrey Board of Trade.
