Charting a Path Forward: Embracing Opportunities and Navigating Challenges in 2025

TREVOR McPHERSON

President & CEO

Mississauga Board of Trade

As we embark on 2025, the global, national, and local business environment continues to present a mix of opportunities and uncertainties. While challenges persist, we have seen encouraging developments, particularly in Mississauga. Significant new investments have been announced, bringing growth and vitality to key sectors such as technology and advanced manufacturing. Life sciences, a cornerstone of Mississauga’s economy, has seen exciting commitments from industry leaders and valued MBOT members like AstraZeneca, Roche Canada, and Eurofins CDMO Alphora. These investments will create new, highly skilled positions and reinforce Mississauga’s reputation as a premier life sciences hub in Canada. This bolsters our regional capacity to innovate and compete on the global stage.

It is often said that we are strongest when we work together—especially in times of uncertainty. At the Mississauga Board of Trade (MBOT), our mission is clear: to connect, champion, and advance the interests of business. There has never been a better time to join your local board of trade or chamber of commerce. Membership opens doors to invaluable opportunities to network with like-minded professionals, engage directly with policymakers at all levels of government, and leverage a range of programs and services designed to support your business growth objectives.

Despite positive developments and Canada’s avoidance of a recession, uncertainty continues to loom. Persistent supply chain disruptions, including the recent work stoppage at Canada Post impacting thousands of businesses, remain a challenge. Compounding this, U.S. President-Elect Trump has threatened to impose 25% tariffs on Canada and Mexico. While it remains unclear whether these tariffs will come to fruition, the implications could be significant. Policy-makers and the business community must treat these threats with the utmost seriousness.

Encouragingly, provincial and federal governments have been proactive in engaging U.S. officials at both federal and state levels to underscore the importance of our bilateral trading relationship. A recent report from the Canadian Chamber of Commerce Business Data Lab (BDL) highlights the potential fallout: if these tariffs were imposed, Canada’s GDP could shrink by 2.6% (roughly CAD $78 billion), translating to a loss of approximately $1,900 per Canadian annually. Similarly, the U.S. could see a 1.6% reduction in GDP (roughly USD $467 billion), costing Americans around $1,300 per person annually. MBOT remains committed to supporting our chamber colleagues across Canada as they engage in these crucial advocacy efforts. In recent weeks, we have connected our members with Canadian and U.S.-based trade experts and will continue to monitor and share developments as they arise.

Regardless of your company’s size or industry, if you have been considering membership with the Mississauga Board of Trade, now is the time to take the leap. Whether your goal is to connect with potential clients and partners, champion a business-friendly regulatory environment, or advance strategic objectives, MBOT is here to be your trusted partner. Together, we can drive success for your organization and its employees.

We look forward to working with you in 2025 and beyond. Let’s build a stronger business community together!