Thursday, February 13, 2025 – The District of Sooke is committed to fostering a strong, adaptable economy that can navigate shifting economic conditions while ensuring local businesses have the support they need to succeed. Whether you are a small business owner, entrepreneur, or community member looking to contribute, mobilizing local resources and leveraging available support programs can help build resilience and encourage long-term economic growth.
One of the most effective ways to strengthen the local economy is through intentional local purchasing. Choosing to “Buy Local, Buy BC” keeps money circulating within our community, supports local jobs, and enhances regional supply chains. To explore local products and businesses, residents and organizations can use resources like the Buy BC Directory.
As businesses adapt to changing economic conditions, accessing business support and funding is important. The BC Economic Development Association (BCEDA) offers programs designed to help with economic resilience, business continuity planning, and financial recovery. Entrepreneurs can also find tools to assist with market expansion, funding opportunities, and Indigenous economic development initiatives through BCEDA’s resources.
For businesses engaged in international trade, staying informed about changing tariffs and export challenges is necessary. Export Development Canada (EDC) provides solutions, including insurance and working capital support, to help businesses manage financial risks associated with shifting global markets. They work closely with federal and provincial partners such as the Business Development Bank of Canada (BDC), Farm Credit Canada (FCC), Global Affairs Canada (GAC), and Canada’s Trade Commissioner Service (TCS) to assist Canadian businesses in adjusting to trade uncertainties.
Businesses looking to expand into new markets can also access Export Navigator, a free program offered by the Ministry of Jobs, Economic Development and Innovation. This program connects local businesses with expert advisors who provide personalized guidance on export readiness, strategy development, and new market opportunities. With tailored support, businesses can explore growth opportunities beyond B.C. while remaining rooted in their local community.
Reflecting on the importance of a strong, locally driven economy, Community Economic Development Officer, Gail Scott highlights the benefits of prioritizing local purchasing whenever possible:
“Economic conditions are always evolving, and it is important that we provide our local businesses with the tools and support they need to thrive. By prioritizing local purchasing when we can and connecting businesses with key resources, we are strengthening our economy while ensuring that Sooke remains a vibrant and resilient community. When we invest in local businesses, we invest in the long-term prosperity of Sooke.”
By prioritizing local purchasing, using available business support programs, and staying informed on economic shifts, Sooke businesses can build long-term stability and adaptability. Below are key resources to help businesses and residents navigate an evolving economic landscape.
Key Resources:
- Buy BC Directory – Find local BC products and suppliers.
- Sooke Region Chamber of Commerce – Connect with local businesses and business support.
- Better Buy Sooke BC – Supporting local Sooke businesses
- Welcome to Sooke’s Hidden Treasures | Beautiful Sooke BC
- Co-operatives First – A resource hub supporting businesses and communities in exploring co-operative business models, including guidance on funding, governance, and development strategies.
- Indigenous Business Directory Vancouver Island – A directory of Indigenous-owned businesses on Vancouver Island, connecting buyers with Indigenous entrepreneurs and service providers.
- BC Economic Development Association (BCEDA) – Access business resilience programs and economic development resources.
- Export Development Canada (EDC) – Find tools for navigating tariffs, trade challenges, and financial risk management.
- Export Navigator – Get free export guidance and market expansion support.
- Premier’s Response to U.S. Tariffs – Stay informed on government actions related to trade policies.
By mobilizing these resources and staying proactive, Sooke businesses and residents can continue to strengthen the local economy, even in a changing landscape.