Weathering the Storm: How Canadian Businesses Can Thrive in a Recession
Weathering the Storm: How Canadian Businesses Can Thrive in a Recession
Facing a Recession: Time for Smart Action, Not Retreat
As Canada officially enters into a probable recession, businesses across the country are bracing for uncertainty. Consumer spending slows, credit tightens, and the pressure to cut costs builds. But in challenging times like these, the key to survival—and even growth—is not retreat, but smart action.
Prioritize Your Best Customers
One critical truth stands out: 80% of your business comes from just 20% of your customers. This isn’t just a statistic—it’s a strategy. Your top clients are your lifeline. Staying closely connected to them, understanding their evolving needs, and delivering consistent value is more important now than ever. Regular check-ins, personalized service, and thoughtful engagement will build loyalty when others are going silent.
Resist the Urge to Disappear
The natural instinct in a downturn is to cut back—especially on marketing, networking, and outreach. But that’s a mistake. Getting through a recession depends on doing the opposite. Visibility is everything. When others go quiet, your voice becomes louder. Now is the time to double down on strategic marketing, maintain strong brand presence, and show up—at events, in inboxes, and on calls.
Recalibrate, Don’t Retreat
Focus on the basics: Deliver excellent service. Communicate often. Build relationships, not just transactions. Recession doesn't mean retreat. It means recalibration. Businesses that use this time to reinforce their core strengths and deepen customer loyalty will be the ones best positioned when the economy rebounds.
Stay Visible. Stay Valuable.
In a recession, it's not just about weathering the storm—it's about leaning into it, staying visible, and staying valuable.
When Resilience Comes at a Cost
Nearly seven in ten Canadian small business owners have cut their pay and postponed personal milestones to keep their businesses afloat, revealing the hidden cost of resilience behind entrepreneurship. The blog urges communities to share, recommend, and thank local businesses—reminding readers that survival depends on collective support, not individual grit.
Breaking Down Canada’s Invisible Borders
Canada’s interprovincial trade barriers make it harder for businesses to trade across provinces than with foreign countries, costing billions, limiting consumer choice, and slowing economic growth. These barriers persist mainly due to politics, as provincial governments protect local industries and revenue, even though removing them would boost GDP, jobs, and national unity.
Weathering the Storm: How Canadian Businesses Can Thrive in a Recession
In a recession, businesses should focus on their top customers, maintain strong visibility, and recalibrate strategies to stay resilient and valuable.
Expanding Connections – Chamber Now Services Onoway and Alberta Beach
The GPRC expands its services to Onoway and Alberta Beach, strengthening regional business support and economic development across Alberta.
Chambers and the Ballot Box: Why Neutrality Matters in Canada
The Greater Parkland Chamber stays neutral during elections, focusing on informing voters to support strong, credible, and engaged local leadership.
How Chambers of Commerce Support Members Through Tough Times
Local Chambers of Commerce are powerful allies for businesses during tough times, offering exclusive savings, marketing opportunities, and invaluable community support. By becoming a member, you gain tools and connections that help your business not only survive—but thrive.
The Value of Work-Integrated Learning in Building Future-Ready Talent
Work-Integrated Learning (WIL) connects classroom learning with real-world experience to prepare students for career success. By integrating internships, co-ops, and industry projects, WIL equips graduates with practical skills, confidence, and professional networks.
The Shift to Competency-Based Education in Higher Learning
Discover how competency-based education in higher learning offers a flexible, skill-focused alternative to traditional degrees—empowering students with real-world readiness.
Canada Needs to Reevaluate Its Diplomacy
March 17, 2025 / Deborah / Comments Off on Canada Needs To Reevaluate Its Diplomacy – and not just with the Americans! In the realm of international business, diplomacy serves as a cornerstone for success. The late Canadian Prime Minister Brian Mulroney, during a 2011 address at the University of Toronto, aptly remarked, “Anyone who…
Trump’s Tariffs on Canada – an Update
Introduction The imposition of tariffs by former President Donald Trump has been a contentious issue, particularly concerning its impacts on Canada. With Donald Trump’s speech at his inauguration, it appears there will be a delay in implementing the tariffs as all US departments report back on unfair trade issues. Possible Impacts of Trump’s Tariffs on…