Powerful forces are transforming the global economic landscape and challenging Canada’s prospects in the world. The weight of global economic activity has dramatically shifted from developed to developing countries. Emerging economies like China and India are sparking a wave of innovation with their critical mass of researchers, scientists and engineers. These countries recognize that research and innovation are the keys to success in the increasingly competitive global economy.

Canada risks being swept aside. Improving Canada’s competitiveness requires an ambitious, aggressive and innovative private sector.  Strategic thinking and smart public policies are needed to address long‐standing structural impediments that hinder businesses at a time when they need the utmost in flexibility to compete. To illustrate Canada’s most significant public policy challenges, the Canadian Chamber of Commerce has recently released its “Top 10 Barriers to Competitiveness in
2016.”

The Canadian Chamber network, comprised of chambers of commerce, including the Fredericton Chamber of Commerce, associations, large corporations and small businesses, has worked to identify the key impediments that are preventing Canadian businesses from reaching their full potential and, in turn, Canada from improving its productivity and economic prosperity. Effectively addressing the Top 10 Barriers to Competitiveness will sharpen our competitive edge and allow us to prosper in the global economy.

The Canadian Chamber network is uniquely positioned to lead this effort. We have long served as a key resource to solving the issues—by connecting businesses, workers, educators and governments. That is an approach we will continue to pursue in a collaborative effort to establish practical solutions toward a common goal: strengthening Canada’s competitiveness in a knowledge‐based global economy so that our future prosperity and standard of living can be assured.  As the voice of business in our community, it is important to continue the dialogue at all levels to reverse the trends.

We are calling on our own membership, on governments, on labour organizations, on educators and others to tackle and overcome these barriers as tolerating them is simply not an option.

The need for action is urgent. The standard of living of every Canadian depends on how well we respond to the challenge. We must identify and implement real, tangible solutions for breaking down the barriers to our competitiveness and for creating more opportunities and greater prosperity for Canadian businesses and families.

Check out the full Top 10 here.