A recent Ontario Chamber of Commerce study found that 67 per cent of Ontario business owners believe increased tariffs will be bad for their businesses.
“What’s interesting about that is that 48 per cent of that group says they can adapt, but how are they going to adapt? Number one answer, raise prices. Number two answer, diversify suppliers. Number three answer, lay off people. Two of those things, aren’t good,” said Ontario Chamber of Commerce President, Daniel Tisch.
Tisch was the keynote speaker in Huron County on April 4, discussing how Ontario can weather the tariff storm. In Huron County, the most productive agricultural county in all of Ontario, there is obvious concern, but also some optimism for how the region can handle the changing economic landscape.
“Huron County has a really strong entrepreneurial spirit. We are home to about 90 per cent owner operated businesses, with those owners on site on a regular basis,” said Vicki Lass, Huron County’s economic development officer.
“So, that gives us strength and a knowledge that creates a certain agility.”
Huron County’s Chamber of Commerce has created an Economic Response Task Force to connect Huron County’s businesses with each other during these uncertain times.
“We know, for example, there’s some businesses that do export to non-U.S. countries here, whether it be through the Hensall Co-op or Huron Commodities,” said Jim Lynn, a well-known Huron County-based financial consultant.
“So, how can we leverage that knowledge and some of those relationships to take forward.”
Lass added that they do a lot of primary agriculture, which is then shipped out.
“One of the phrases is beans on boats. And we’re good at that. But we’re seeing more and more processing local,” said Lass.
“That’s part of what our department is looking at, is how do we get people moving to more consumer-packaged goods or more processing on site?” questioned Lass.
While there are obvious challenges in the very near future, for some businesses in Huron County and beyond, Lass said there are also opportunities to do business differently and possibly better.
“It’s the most uncertain time we’ve seen in the economy in so many years,” Lynn said.
“So, the question is how we look at it. Hope is not a strategy without vision and action. I think people have to move out of that denial stage.”
Tisch added that there has been incredible engagement in Chambers of Commerce across the province and the business community.
“I don’t think I’ve ever seen politicians more responsive with a greater sense of urgency than they are right now,” Tisch said.
“And those are all good things. So, I’m optimistic that we’ve got an opening here. We have a window to turn all this talk into action.”
