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An economic downturn can be a turbulent time for businesses in every sector worldwide. Sinking revenues and economic uncertainty can exacerbate our already litigious society, and even companies that successfully weather economic downturns relatively unscathed can still face long-term uninsured risks. For this reason, Lloyd Sadd Insurance Brokers Ltd has compiled these tips to effectively manage your company’s exposures as it adapts to the current business climate and moves into the next economic cycle.

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The Canadian federation is complex with much variation between provinces in laws, regulations, permits, licences and other rules. Differences impede interprovincial trade flows and labour mobility, increase operational costs, reduce efficiency and limit investment. They also reduce consumer choice and lower Canada’s productivity.

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There is a global battle for talent as businesses and governments around the world recognize growth of skills and people are vital to innovation and economic prosperity. With immigration forecasted to be the key driver of Canada’s population growth over the next 50 years, building a labour force that develops, attracts, and retains world-class skills and abilities is imperative.

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The Government of Canada confirmed a partnership with the Edmonton Chamber of Commerce and the Alberta Chambers of Commerce to promote local businesses as they recover from the COVID-19 pandemic.

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“We’ve urged governments to develop a risk index that would use public health triggers to indicate when restrictions are easing, and we’re glad to see the Province provide exactly that.” said Riopel, “This staged approach will give job creators a much better sense of when they can expect to bring their staff back, and get their operations up and running again.”

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