With the eyes of the world on Vancouver for the start of the FIFA World Cup, the province is launching the BC Business House at the Vancouver Convention Centre.
The goal is to turn all this FIFA excitement into long-term economic opportunities by connecting B.C. companies with international investors and potential business partners.
“We have trade representatives in 14 countries who have been actively working in their markets to find potential investors and find ways for them to be invited and attend events here,” said Minister of Jobs and Economic Growth Ravi Kahlon.
Throughout the tournament, the venue will host a series of industry showcase events highlighting some of B.C.’s biggest economic sectors.
“If you go around the world, if you go to any country, this is what everyone is watching. And this is an opportunity that doesn’t come often,” Kahlon said.
The province says the World Cup presents a once-in-a-generation opportunity to attract investment, strengthen trade relationships, and showcase all that B.C. has to offer to a global audience.
However, when it comes to what local small businesses can expect, many remain unconvinced that they will see any impact from the games.
Navdeep Chahal, who owns Trees Organic Coffee, says he’s still holding out hope that once the games begin, he will see the boom in business promised by the province.
“We are seeing a lot of people with suitcases walking around downtown,” said Chahal.
“But for them to spend money in our businesses, I haven’t seen that come yet.”
He says that so far, the arrival of the international competition has only caused logistical headaches, especially for staff attempting to navigate the numerous road closures throughout downtown.
“If someone is living in Surrey or Delta, they are taking the train or driving, where they would be here in 45 minutes; now they are here in an hour and a half. So we are incurring those costs at this point.”
Chahal is far from alone, as a survey done by the Canadian Federation of Independent Businesses found that businesses in Vancouver and Toronto are feeling pessimistic about their chances of scoring any new sales.
“We heard from seven in 10 small businesses in Toronto and Vancouver that they expect no meaningful change to their revenues,” said CFIB senior policy analyst for B.C. Kalith Nanayakkara.
“At the same time, nine per cent tell us that they expect to see some increase in revenue, while 11 per cent expect a decrease.”
Meanwhile, as the province is hoping to secure some major wins from the arrival of the beautiful game, for local business owners, it’s still a game of wait and see.