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Cornwall chamber executive director thrilled about government investment – Standard Freeholder

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A recent investment from both the provincial and federal governments that will assist businesses in enhancing their online presence has the Cornwall and Area Chamber of Commerce executive director quite happy.

“We were thrilled when we heard the news,” said Greg Pietersma. “The chamber identified quite early on in the COVID-19 pandemic that a lot of local businesses didn’t have a digital presence and that to give them resilience, it’s very important that they do create such a presence. Investing in a website is far more than just throwing something on the web. You want to make sure you do it right.”

The $57-million investment to the Digital Main Street platform was officially announced on Thursday and will help up to 22,900 Ontario businesses create and enhance their online presence and generate jobs for more than 1,400 students. Of the $57 million, $9.3 million will be invested in the Ottawa SouthEastern portion of Ontario.

Through the contribution, businesses will be able to take advantage of three programs within the platform — shopHERE powered by Google, Digital Main Street Grant and Future-Proofing Main Street.

According to Pietersma, there exists a need in the local business community for such assistance. A survey undertaken by the chamber earlier this year revealed that of 200 businesses quizzed, nearly 40 per cent of them did not have an online presence.

“We know that the need is there,” said Pietersma. “Every company should have an online presence of some sort, whether it’s a one-page description of what they do, or a full blown e-commerce site.”

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The executive director told the Standard-Freeholder that about four in five Canadians begin their shopping experience online and that stores lacking a website usually are not even considered by shoppers. Pietersma said he hopes that local business owners take advantage of the many grants available to them.

“There’s a lot of funding available to help businesses, such as the Digital Main Street Grant of $2,500,” he said. “I just hope that business owners take a moment to put a little bit of energy in these programs. I know a lot of them are scrambling to reopen and follow proper measures.”

The ShopHERE program will leverage Ontario’s strengths by hiring highly skilled and trained students to build and support the launch of online stores for businesses that previously did not have the capacity to do so themselves.

The Digital Main Street Grant will help main street small businesses be digitally more effective. Through a $2,500 grant administered by the Ontario BIA Association, small businesses will be able to adopt new technologies and embrace digital marketing.

The Future-Proofing Main Street program will provide specialized and in-depth digital transformation services and support that helps existing mainstreet firms adapt to changes in their sector and thrive in the new economy.

“Ontario’s small businesses are the backbone of our economy, and their recovery is critical to Ontario’s recovery,” said Prabmeet Sarkaria, Associate Minister of Small Business and Red Tape Reduction. “As thousands of small businesses across the province closed their doors and halted business during the COVID-19 outbreak, many struggled to shift sales or services online.”

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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