{"id":58075,"date":"2023-05-30T00:00:00","date_gmt":"2023-05-30T00:00:00","guid":{"rendered":""},"modified":"2024-01-11T13:28:30","modified_gmt":"2024-01-11T18:28:30","slug":"2023-economic-outlook-and-what-it-means-for-business-owners-webinar-recap","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/2023-economic-outlook-and-what-it-means-for-business-owners-webinar-recap\/","title":{"rendered":"2023 Economic Outlook \u2014 And What it Means for Business Owners [Webinar Recap]"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\">\n\t\t\t\t\t\t\t<span>Entrepreneur<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">2023 Economic Outlook \u2014 And What it Means for Business Owners [Webinar Recap]<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Diane Amato<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-05-30T153104.794.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Woman in office\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-05-30T153104.794.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-05-30T153104.794.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-05-30T153104.794.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=2023 Economic Outlook \u2014 And What it Means for Business Owners [Webinar Recap] &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/2023-economic-outlook-and-what-it-means-for-business-owners-webinar-recap\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/2023-economic-outlook-and-what-it-means-for-business-owners-webinar-recap\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published May 30, 2023 \u2022 8 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>Canada continues to face a challenging economic outlook \u2014 in particular, interest rate hikes and rising inflation have put considerable pressure on Canadian households. This pressure, in turn, affects small business owners who must find a way to sell, compete, survive and thrive in spite in this environment.<\/p>\n\n\n\n<p>Being aware of the headwinds the Canadian economy is facing \u2014 and understanding the forecast for the future \u2014 can help owners prepare, adapt and potentially pivot their businesses for ongoing success, even during challenging times.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2023 Economic Outlook<\/h2>\n\n\n\n<p>RBC Senior Economist Josh Nye presented a detailed snapshot of the Canadian economic outlook. The following are the highlights:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">A recession?<\/h3>\n\n\n\n<p>Nye and his team continue to forecast a mild recession in Canada and the U.S. in upcoming quarters. \u201cIt&#8217;s not a major recession,&#8221; he says. \u201cIt doesn&#8217;t look anything like in the early stages of 2020 when the economy fell off a cliff. It&#8217;s more of a stalling of Canada&#8217;s economy,&#8221; he explains, indicating the slowdown in housing and consumer spending is the key drag on the economy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Inflation<\/h3>\n\n\n\n<p>Inflation has been a key theme in Canada and other economies over the past year. The headline inflation rate (which includes commodities such as food and energy prices) rose to 8 per cent in the summer of last year, which was the highest Canada has seen in nearly 40 years. \u201cEnergy prices were a big part of that,&#8221; explains Nye, adding, \u201cfood inflation remains quite firm and continues to present challenges for households.&#8221;<\/p>\n\n\n\n<p>As agricultural commodity prices are starting to come down, as are transportation costs, he is forecasting to see some easing in this area. At the same time, the high visibility of food prices weighs on the confidence of everyday Canadians and contributes to other economic challenges, such as consumer spending.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Interest rates<\/h3>\n\n\n\n<p>Over the past year, the Bank of Canada (BoC) increased its overnight rate by 4.25 per cent. In January, the BoC advised they were \u201cmoving to the sidelines&#8221; to evaluate the impact of these past increases and give some time for monetary policy to work through the system.<\/p>\n\n\n\n<p>\u201cRight now, they are maintaining that pause, emphasizing to the market that if inflation doesn&#8217;t cool as much as they&#8217;re expecting, or if the economy doesn&#8217;t slow as they&#8217;re expecting, they might have to raise interest rates further,&#8221; Nye explains. Because Nye and his team are expecting a slowdown, they don&#8217;t expect rates will increase further. \u201cBut I don&#8217;t think we&#8217;ll see any interest rate cuts until the early stages of next year,&#8221; he says.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The labour market<\/h3>\n\n\n\n<p>As business owners already know, labour shortages have been a major issue over the past year. With the unemployment rate sitting at 5 per cent, which is close to a record low, businesses continue to experience difficulty attracting workers. \u201cAnd, the tight labour market has contributed to strong wage growth of about 5 per cent,&#8221; says Nye, which is \u201cwell above what the Bank of Canada wants to see.&#8221;<\/p>\n\n\n\n<p>Given the expectation for a mild recession in the coming quarters, Nye expects the unemployment rate to rise, which should spell some relief for owners. But seeing the current rate is so low, the impact will take some time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Impact on consumer spending<\/h3>\n\n\n\n<p>Although many Canadians are earning more, higher prices mean Canadians&#8217; hard-earned dollars aren&#8217;t going as far. \u201cI think that explains a significant pullback on consumer confidence,&#8221; says Nye.<\/p>\n\n\n\n<p>Higher interest rates, which affect Canadians with mortgages up for renewal and who are servicing other debt, means there is less money left over for the average Canadian, leading to a more pessimistic consumer outlook relative to last year.<\/p>\n\n\n\n<p><b>Watch the on-demand recording of this webinar:<\/b> <iframe loading=\"lazy\" src=\"https:\/\/rbc.rev.vbrick.com\/embed?id=01c9584e-e5a7-41be-a412-3394cec8b0f1\" title=\"Making Sense of Today's Economy RBC Small Business\" width=\"640\" height=\"360\" frameborder=\"0\"><\/iframe><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Finding opportunities for your business<\/h4>\n\n\n\n<p>\u201cOne of the biggest gifts that we as entrepreneurs and small business owners have is the opportunity to look for the doors that are open for us,&#8221; says Shelagh Cummins, CEO and Founder of The Road to Seven. \u201cAs much as we would love to control interest rates and loan rates, it&#8217;s out of our control. So all we can do is focus on what we can control and double down on what&#8217;s been working well.&#8221;<\/p>\n\n\n\n<p>Recognizing this is a volatile economic world, Cummins offers these practical tips for coping in today&#8217;s environment:<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Re-evaluate your audience<\/h5>\n\n\n\n<p>While consumer confidence and spending have decreased over the past year, Cummins emphasizes that some segments of the population will be harder hit than others. \u201cWhen you&#8217;re building a business, your niche is going to determine how much money you make. If you are serving one of the populations that has been hit very hard, it&#8217;s probably time for you to shift a little bit and think about who else needs your services.&#8221;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Review your business model<\/h5>\n\n\n\n<p>\u201cInterest rates are what they are,&#8221; says Cummins pragmatically, acknowledging there is nothing that business owners can do about them. It means, however, that as a business owner, the cost of doing business has increased. \u201cIf you look at your costs of doing business now versus a year ago, and if you haven&#8217;t raised your rates in the last year, you are doing yourself a disservice because you are losing money,&#8221; she says, encouraging owners to look closely at their numbers.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Manage your debt<\/h5>\n\n\n\n<p>While you cannot control interest rates, there is the opportunity to reduce how \u2014 and how much \u2014 debt is used in the operations of your business. And therefore to lower your cost of doing business.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Rethink pandemic-driven behaviours<\/h5>\n\n\n\n<p>During the pandemic, did you stock your shelves with inventory, unsure how and when you could receive your next shipment? If your supply chain has improved, Cummins suggests rethinking your strategy if it frees up cash flow and reduces borrowing costs.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Make decisions based on cash flow<\/h5>\n\n\n\n<p>\u201cNow is the time to be looking at money coming in versus money going out and understanding what your expenses are relative to the revenue you&#8217;re earning,&#8221; says Cummins. She explains how some owners she works with have moved out of their rental office spaces and back into their homes. \u201cWhile it was nice for them to get out of the house, it was an expense that wasn&#8217;t necessarily making them more money,&#8221; she says. \u201cWe want to be making good business decisions and looking at cash through this lens.&#8221;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Establish your point of differentiation<\/h5>\n\n\n\n<p>Why should someone choose you over somebody else? Cummins encourages business owners to answer this question and communicate it loudly and clearly. \u201cPeople are going to keep buying \u2014 some pay be buying less, and some may not be buying right now, but your job as the small business owner is to find the people who are still buying. This is a time to look at your messaging, your brand positioning, establish your importance and market your differentiation within the market.&#8221;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Seek out partnerships<\/h5>\n\n\n\n<p>One way to integrate into a community and deliver incredible value is to partner with another business serving your audience in a different capacity. \u201cWe&#8217;re so afraid of partnering up with other businesses because they&#8217;re competition when really it&#8217;s such a powerful tool,&#8221; Cummins explains, adding there is significant opportunity for joint ventures where both businesses benefit.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Double-click on your e-commerce strategy<\/h5>\n\n\n\n<p>While some consider e-commerce part of the pandemic story and in the rear-view mirror, Cummins emphasizes it remains a key part of growth. \u201cThe brick-and-mortar businesses who had to shift quickly online now have an online audience who only want to buy from them digitally. Our market is now trained to purchase online, so it&#8217;s our job to provide both opportunities and offer a hybrid model to consumers.&#8221;<\/p>\n\n\n\n<p>Indeed, the latest RBC Small Business poll found people want choice \u2014 the human connection of in-person service with the speed and convenience of e-commerce.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Hire for growth<\/h5>\n\n\n\n<p>When dollars are tight, there is a tendency to work in the business as much as possible. \u201cBut you&#8217;ll eventually hit a cap,&#8221; cautions Cummins. \u201cYour job is to keep finding ways to increase your revenue and your profit. Sometimes that involves taking the risk of bringing someone in. As you grow, you need to shift from being the doer to the leader of the business.&#8221;<\/p>\n\n\n\n<p>When the economy is volatile, it is an opportunity for small businesses to shine. \u201cThis is the time to double down on your determination, your grit and your resilience,&#8221; says Cummins. So, when Canadians who haven&#8217;t been buying come back out when the economy is stronger, you will already be in market, bigger and stronger than ever.<\/p>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-6553072d-1742-4756-b4fb-7107e8c55a30\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-6ec1480e-a147-45af-9dac-e0e4aa330a0e\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=2023 Economic Outlook \u2014 And What it Means for Business Owners [Webinar Recap] &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/2023-economic-outlook-and-what-it-means-for-business-owners-webinar-recap\/\">\n        <img 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\t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-a3427226-9705-4f95-a065-a93de725126d\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/budgeting\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Budgeting<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Entrepreneur<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/inflation\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Inflation<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"744\" height=\"367\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/YT-thumbnail.png?quality=80&amp;w=744\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Six business professionals standing on stage at an RBC corporate event with solar panel imagery displayed on screen behind them\" 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Collaboration Can Help Drive Transformational Growth in Canada<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Nicole-Piggott-Image.png?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Headshot of Nicole Piggott, Founder and President of Synclusiv\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Nicole-Piggott-Image.png 1906w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Nicole-Piggott-Image.png?resize=300,169 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Nicole-Piggott-Image.png?resize=768,432 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Nicole-Piggott-Image.png?resize=1024,576 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Nicole-Piggott-Image.png?resize=1536,864 1536w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/get-inspired\/business-success-stories\/\">\n\t\t\t\t\t\tBusiness Success Stories\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/get-inspired\/business-success-stories\/synclusiv-how-cultivating-an-inclusive-workplace-fuels-business-growth\/\" class=\"card-title h4 mar-t-0\">Synclusiv: How Cultivating an Inclusive Workplace Fuels Business Growth<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Grants-and-Funding-Image.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Businesswoman with a digital tablet showing and talking with male worker in distribution warehouse. Manager working with foreman in warehouse checking stock levels.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Grants-and-Funding-Image.jpg 2121w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Grants-and-Funding-Image.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Grants-and-Funding-Image.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Grants-and-Funding-Image.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Grants-and-Funding-Image.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Grants-and-Funding-Image.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-financing-and-funding\/\">\n\t\t\t\t\t\tBusiness Financing &amp; Funding\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-financing-and-funding\/five-steps-to-help-win-business-grants-and-government-funding-in-2026\/\" class=\"card-title h4 mar-t-0\">5 Steps to Help Win Business Grants and Government Funding in 2026 [Webinar Recap]<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-6553072d-1742-4756-b4fb-7107e8c55a30 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