Ottawa’s business community is navigating a period of rapid change and growing complexity. The Ottawa Board of Trade (OBOT) hosted a series of roundtables with small and medium sized enterprises across sectors. Through these discussions, OBOT identified the challenges and opportunities that matter most to businesses in the National Capital Regions.
Local leaders consistently highlighted that Ottawa businesses are navigating a period defined by rapid technological change, workforce disruption, economic uncertainty, and regulatory friction.
Technology and AI Adoption:
AI is no longer theoretical. Businesses are using it for admin support, content generation, energy optimization, fleet tracking, document review, and meeting transcription. But across the board, change management and lack of know-how, not cost, are the main barriers. Resource-constrained businesses especially struggle because owners simply don’t have the bandwidth to evaluate tools or train their teams.
Key findings:
- Security and privacy risks, especially for firms with government clients
- Fragmented tech stacks that don’t integrate well (“Frankenstein systems”)
- Adoption resistance among older workforces or trades workers reluctant to change processes
- Loss of junior roles due to automation, eliminating the traditional talent pipeline
- Organizations not documenting institutional knowledge, creating major succession risk when long-tenured leaders leave
- Need for baseline training and clear guidance on implementation guardrails
Despite these barriers, early adopters are gaining tangible efficiency and cost advantages, and SMEs can move faster than large institutions if supported properly.
Succession Planning and Transition Risk:
Every roundtable flagged succession as both an urgent risk and a generational opportunity. A wave of retirement is coming, but most businesses are unprepared.
Key findings:
- Many owners have no exit plan despite planning to transition within five years
- Family dynamics, lack of interest from children, and outdated systems deter successors
- Transitions take 2–3 years on average and require expertise many small firms can’t afford
- Staff often don’t step up into leadership roles even when offered higher compensation, citing lifestyle expectations and generational differences
- Businesses don’t know how to identify potential acquisition opportunities; retiring owners often aren’t visible to buyers
- Business leaders are looking for:
- Workshops on valuation, succession, financing models, and knowledge transfer to support the transition
- Matchmaking mechanisms for businesses quietly seeking buyers
- Mentorship networks that develop future leaders
Economic Uncertainty, Elections, and Market Hesitation
Businesses throughout our region are approaching the current economy with caution as confidence takes precedence over raw data. Members across sectors tell us they are contending with policy shifts, cost pressures, and tighter financial conditions that complicate day-to-day decision making. Many are prioritizing stability as they navigate a business environment that feels increasingly unpredictable.
Key findings:
- Elections froze government spending and delayed contracts for months, hurting both B2B and B2C sectors
- Tariffs and cost fluctuations are pushing businesses to stockpile inventory, which strains cash flow
- Many businesses are stockpiling cash instead of investing, citing US policy uncertainty, supply chain unpredictability, and volatile input costs
- Cost of capital remains a significant drag; banks have tightened risk profiles
- Food service, construction, manufacturing, and real estate are facing the sharpest cost increases and margin pressures
Across sizes and sectors, leaders feel this economic cycle is more uncertain than the pandemic.
Procurement Barriers and Regulatory Friction
Ottawa businesses continue to highlight how policy constraints are limiting their ability to grow and compete. Many of our members describe a landscape where government initiatives are not matched by practical implementation, increasing red-tape and leaving them uncertain about how to participate in public procurement or expand into new markets.
Key findings:
- Disconnect between “buy local” messaging and actual procurement practices
- Lack of clarity on how to compete for contracts
- Interprovincial trade barriers blocking cross-Ottawa/Gatineau opportunities despite proximity
- New small-business-oriented regulations (example: landscaper licensing) increasing administrative burden disproportionately
Downtown Ottawa Revitalization
Ottawa’s business community continues to express deep concern about the pace of downtown recovery and the need for stronger, more coordinated action from all levels of government.
Key findings:
- Federal return-to-office policies remain inconsistent, keeping foot traffic and spending low
- Safety concerns around homelessness and drug use directly impact business operations, staff comfort, and customer traffic
- Transit reliability and parking costs continue to discourage downtown visits
- Businesses still carry heavy pandemic-era debt loads, limiting ability to invest in growth
Opportunities: Northern Markets, AI Infrastructure, and SME Agility
- Amid the challenges, several opportunities emerged:
- Northern development and supply chains, where many older-run businesses lack successors and could be acquisition targets
- Ottawa’s strategic advantage as a hub for Nunavut and northern logistics
- “Living lab” technology testing at St. Laurent Mall through the 5G initiative, opening doors for tech collaboration
- SMEs’ ability to adopt AI faster than large institutional players if supported with training and integration guidance
What Businesses Want from OBOT
Businesses were very clear: they need OBOT to lead with clarity, practical tools, and advocacy that cut through the noise.
Ottawa’s business community is navigating a pivotal moment. Across every roundtable, leaders made it clear that while the pressures are real, the opportunities are just as significant. Businesses are ready to modernize, but they need support to adopt new technologies. They want stronger pathways for succession and talent development. They need a more predictable regulatory environment, a revitalized downtown, and clearer access to procurement and trade opportunities. They’re calling for leadership that brings coherence to a fragmented landscape.
This series confirms that the Ottawa Board of Trade is uniquely positioned to drive the next stage of economic progress. By advancing practical tools, championing policy reform, strengthening regional partnerships, and connecting businesses with the resources they need, OBOT can help guide businesses through this period of uncertainty into a catalyst for long-term growth. The insights gathered here will help shape OBOT’s 2026 strategy and serve as a foundation for coordinated action across sectors.