Perspectives

October is Small Business Month, so this episode we're taking the pulse of this important sector in Canada. The challenges faced are numerous, including lockdown-era loans coming due, inflation, persistently high interest rates and labour issues. But there are also reasons for optimism. Dan Kelly, President and CEO of the Canadian Federation of Independent Business, and Jascha Jabes, Vice President of Small Business at Scotiabank, join Perspectives’ Armina Ligaya to break down the hurdles as well as reasons for hope on the horizon. Read the full Path to Impact report here for more insights from the small business owners surveyed. Key moments this episode: 1:27 — What is the headline from the latest Scotiabank survey of small business owners? 2:26 — Why the post-pandemic debt load is a key worry for CFIB members 7:25 — Jascha digs into the data of CEBA loans and small businesses 9:20 — A few years removed from lockdowns, are small businesses better able to survive? 10:57 — The stats on how small businesses have embraced technology 14:50 — An interesting finding from the survey: BIPOC-owned businesses are more optimistic about their future 16:04 — Final question for Dan and Jascha – what next?  

Guests Rebekah Young and John Fanjoy discuss the importance of electric vehicles (EVs) and the challenges Canada faces in the EV production race. They delve into topics such as government commitments, pricing and availability issues, and the need for policy interventions to make EVs more accessible and affordable in Canada.

Phyllis Webstad, the woman behind Orange Shirt Day, discusses her new book, the changing views on reconciliation in Canada, and the spiritual side of her healing journey. She shares an excerpt from the book and emphasizes the significance of truth before reconciliation for Indigenous experiences.

Navigating uncertain times as an investor: concerns around the end of the rate hiking cycle, geographical distribution and diversification, challenges in the Canadian real estate market, and the importance of staying invested during economic uncertainty.

Yannick Lallement, VP at Scotiabank, discusses the use of ChatGPT in the workplace. The episode covers generative AI and its benefits, including creative writing and simulations. Ethical concerns and the future of generative AI are also explored.

As most economists predicted, the Bank of Canada has held its key interest rate steady at 5%. Statistics Canada announced last week that the Canadian economy shrank 0.2% at an annualized rate in the second quarter – very far from the 1.5% growth the Bank of Canada had predicted in its last forecast. The Perspectives podcast returns for another season with a familiar guest, Scotiabank Chief Economist Jean-François Perrault. He takes host Armina Ligaya through Bank of Canada Governor Tiff Macklem’s decision, what it means for the economy and inflation, and whether this signals the end, finally, for hikes that have taken interest rates to a 22-year high. Key moments this episode: 00:48 — What is JF’s main take away from the announcement? Why it’s good news/bad news 1:51 — Was it the right move to pause? 2:45 — How long will this rate hike pause last? Will the next move be a cut? 3:29 — When is the earliest we can realistically see an interest rate cut? 3:43 — Was the slowdown or surprise contraction in the Canadian economy a blip? Or proof interest rate hikes have been working? 4:50 — What does all this mean when it comes to a potential recession? 6:20 — Where are we at in terms of inflation and where do we go from here? 7:39 — What effect have interest rate hikes really had on inflation? Was the pain worth it? 8:54 — What’s the final takeaway for borrowers from this announcement? 

Welcome new listeners! Here’s a quick sample of what you'll hear on Perspectives, Scotiabank’s weekly podcast.