{"id":522760,"date":"2022-12-06T17:25:32","date_gmt":"2022-12-06T14:25:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/the-year-ahead-business-in-2023\/"},"modified":"2022-12-06T17:25:32","modified_gmt":"2022-12-06T14:25:32","slug":"the-year-ahead-business-in-2023","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/","title":{"rendered":"#The Year Ahead: Business in 2023"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a282772678c7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a282772678c7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#%E2%80%9CThe_Year_Ahead_Business_in_2023%E2%80%9D\" >&#8220;The Year Ahead: Business in 2023&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#1_This_recession_will_hurt_after_all\" >1. This recession will hurt after all\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#2_More_workers_will_unionize\" >2. More workers will unionize\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#3_There_will_be_more_flight_choices\" >3. There will be more flight choices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#4_Open_banking_will_arrive_for_better_and_for_worse\" >4. Open banking will arrive, for better and for worse<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#5_The_cannabis_retail_bubble_will_pop\" >5.\u00a0The cannabis retail bubble will pop<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#6_Bay_Street_will_double_down_in_the_fight_against_climate_change\" >6. Bay Street will double down in the fight against climate change<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#7The_Shopify_unicorn_will_survive\" >7.The Shopify unicorn will survive<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#8_Wattpad_will_rewrite_the_entertainment_industry\" >8. Wattpad will rewrite the entertainment industry\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#9_Supply_chain_snafus_will_strike_everywhere\" >9.\u00a0Supply chain snafus will strike everywhere<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/buradabiliyorum.com\/en\/the-year-ahead-business-in-2023\/#10_Consumers_will_demand_companies_go_green\" >10. Consumers will demand companies go green<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CThe_Year_Ahead_Business_in_2023%E2%80%9D\"><\/span>&#8220;The Year Ahead: Business in 2023&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n                            &#8220;In other words, fasten your seatbelt&#8221;\n                        <\/div>\n<div>\n<p class=\"p1\">Supply chains will freeze while air-<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a> choices expand. Tech unicorns prove resilient, the cannabis retail boom goes bust and everyone wants a side of feel-good <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> responsibility with their profits.<span class=\"Apple-converted-space\">\u00a0Here\u2019s a look at the year ahead in the world of business:\u00a0<\/span><\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"1_This_recession_will_hurt_after_all\"><\/span><span class=\"s1\">1. <\/span><b>This recession will hurt after all<span class=\"Apple-converted-space\">\u00a0<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p4\"><span class=\"s2\">It\u2019s tough being Tiff Macklem. The Bank of Canada governor spent 2022 fighting inflation with single-minded zeal, raising interest rates at every opportunity. Now a different problem looms: a recession. Opinion differs on how severe the downturn will be. Expectations of an almost painless recession have given way to fears of a crash landing, to be felt most acutely in housing, with reduced home-building activity, and in manufacturing, which could grind to a halt. Trade with the U.S. will slow, people will buy fewer cars and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>liances, and the plastic, metal and lumber industries will all feel the pinch. In other words, fasten and tighten your seatbelt.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"2_More_workers_will_unionize\"><\/span><span class=\"s1\">2. <\/span><b>More workers will unionize<span class=\"Apple-converted-space\">\u00a0<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p4\">Forget the Great Resignation. This is poised to become the year of the Great Unionization. Following successful labour action and organizing at Starbucks, Indigo and Amazon, more workers will agitate for better wages and improved working conditions. Much of this is driven by pandemic hardships that left workers feeling vulnerable and underpaid, particularly those deemed essential in the early days of COVID\u2014including health, education and food-delivery workers. In the U.S., public support for unions is at its highest since 1965, and Canada has similar numbers. There were 48 strikes or lockouts in Quebec last summer, involving more than 10,000 workers, including Agropur Dairy employees and Via Rail operators. In Ontario, CUPE education workers staged a dramatic November walkout in opposition to a provincially imposed contract. As Unifor president Lana Payne put it, \u201cit\u2019s definitely an organizing moment.\u201d<\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"3_There_will_be_more_flight_choices\"><\/span><span class=\"s1\">3. <\/span><b>There will be more flight choices<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p4\"><span class=\"s2\">Air travel in Canada has always been costly and time-consuming, and recent labour shortages and service cuts have only made it more excruciating. But thanks to low-cost and no-frills airlines like Lynx Air, Swoop (WestJet\u2019s discount carrier) and new kid on the block Canada Jetlines, that trip to visit your in-laws just got a little bit cheaper. Jetlines still only operates a single Airbus A320, but the expansion of Lynx\u2014it begins flying to Orlando, Phoenix and Las Vegas later in 2023\u2014will herald a new era in Canadian budget travel.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"4_Open_banking_will_arrive_for_better_and_for_worse\"><\/span><span class=\"s1\">4. <\/span><b>Open banking will arrive, for better and for worse<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p4\">The idea behind open banking is simple: \u200b<span class=\"s2\">it enables consumers and businesses to <\/span>easily and safely move their financial data between banks and other financial-\u200bservice providers, such as fintechs (think Wealthsimple or FreshBooks). But the made-in-Canada approach developing in Ottawa has been bumpy so far. Working groups between fintechs and the feds only began meeting last summer, behind schedule, and critical questions around governance\u2014accrediting participants, handling disputes, managing security\u2014remained unresolved as fall turned to winter. Canada\u2019s open-banking lead, Abraham Tachjian, swears everything will be ready in 2023. But don\u2019t expect a smooth rollout.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-sizes=\"auto\" class=\"aligncenter wp-image-1242275 size-full lazyload\" src=\"https:\/\/www.macleans.ca\/wp-content\/uploads\/2022\/12\/cannabis-leaf-e1670260603404.jpg\" alt=\"\" width=\"1920\" height=\"1795\"\/><\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"5_The_cannabis_retail_bubble_will_pop\"><\/span><span class=\"s1\">5.\u00a0<\/span><b>The cannabis retail bubble will pop<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p4\">In most Canadian cities, it\u2019s now easier to find an edible than a parking spot. But the oversaturated cannabis market is about to change dramatically, with a wave of closures and consolidations in the coming year. Some industry experts predict a full third of the country\u2019s 3,000-odd weed shops will shutter by the end of next year. The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> is even worse for Canada\u2019s pot stocks, which have already cratered. Last October, the once-mighty Canopy Growth Corporation was down more than 75 per cent year over year, and Aurora Cannabis was trading at 98 per cent below its all-time high. While some suggest the industry is just rebalancing itself and long-term prospects remain good, this reckoning has us reaching for an old adage\u2014smoke \u2019em if you got \u2019em.<\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"6_Bay_Street_will_double_down_in_the_fight_against_climate_change\"><\/span><span class=\"s1\">6. <\/span><b>Bay Street will double down in the fight against climate change<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p4\">Despite backlash south of the border, environmental, social and governance investing\u2014i.e. investing in businesses promoting environmental and social good\u2014is alive and well with Canadian businesses, banks and pension funds. ESG is great PR, and in a world increasingly upended by the climate crisis and social-justice issues, it makes good financial sense, too. The fuzziness around what constitutes true ESG investment, a question plagued for years by iffy regulation, is also clearing up. Former federal environment minister Catherine McKenna now chairs a UN committee dedicated to developing standards to prevent businesses from greenwashing their reputations, and the harmonization of standards by the International Sustainability Standards Board have made such investments more bulletproof.<\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"7The_Shopify_unicorn_will_survive\"><\/span><span class=\"s1\">7.<\/span><b>The Shopify unicorn will survive<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p4\">At the height of the pandemic, Shopify was the Apple of e-commerce, its online retail platform the go-to solution for seemingly every bricks-and-mortar company pivoting to digital. But its explosive growth\u2014a 110 per cent increase in revenue, year-over-year, in the first quarter of 2021\u2014proved fleeting. With shopping malls once again full in 2022, the company\u2019s growth slowed and its stock tanked hard. It laid off 10 per cent of its workforce last summer and more in the fall. Yet things are once again looking up for the company; its lower stock price has made it an attractive buy again, and online shopping isn\u2019t going anywhere in the long run. The Shopify Era has only just begun.<\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"8_Wattpad_will_rewrite_the_entertainment_industry\"><\/span><span class=\"s1\">8. <\/span><b>Wattpad will rewrite the entertainment industry<span class=\"Apple-converted-space\">\u00a0<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p4\"><span class=\"s3\">A few years ago, Wattpad was a curious Canadian success story, an interactive online publishing platform that promised to revolutionize the publishing industry. That early genius\u2014turning user-generated stories into saleable IP\u2014proved irresistible. Since its $754-million acquisition by South Korean internet company Naver in 2021, the company has become a global juggernaut. Wattpad now collaborates with K-pop stars, regularly makes films, <\/span>TV and comics based on its web novels, and has partnered with companies like Spotify to produce podcasts in the Philippines and Indonesia. Twentieth-century pop culture belonged to Walt Disney and Stan Lee; Wattpad founder Allen Lau may own the 21st.<\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"9_Supply_chain_snafus_will_strike_everywhere\"><\/span><span class=\"s1\">9.\u00a0<\/span><b>Supply chain snafus will strike everywhere<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p4\"><span class=\"s3\">Supply chain delays still bedevil Canadian consumers, and the run on automobiles, electronics, microchips, furniture and much more shows no sign of abating. Auto manufacturers expect they\u2019ll need to cull more than four million vehicles because of a lack of chips for computer systems. Volkswagen expects the shortage to continue well into 2024. What could be worse than that? How about a looming coffee shortage? Weather issues, a lower-than-normal supply of arabica and robusta beans, and crop-hoarding exporters in Brazil are all contributing to that brewing crisis. Stock up on your Tim\u2019s while you can.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"10_Consumers_will_demand_companies_go_green\"><\/span><span class=\"s1\">10. <\/span><b>Consumers will demand companies go green<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p4\"><span class=\"s2\">\u201cConscious consumption\u201d has been popular for decades. But ethically minded shoppers are now devoting their dollars to B Corps: rigorously monitored businesses that believe a business\u2019s purpose should go beyond profit, encompassing environmental and social responsibility as well. There are now more than 4,000 certified B Corps worldwide, including Canadian companies like 100km Foods, Kotn and Assiniboine Credit Union. Montreal\u2019s Goodee, a purveyor of sustainable furniture and gifts, is one especially beloved exemplar. A Black-owned business inspired by the UN\u2019s sustainable development goals, it recently launched an apparel line, so you can look as good as you act.<span class=\"Apple-converted-space\">\u00a0<\/span><\/span><\/p>\n<p><i data-stringify-type=\"italic\">This story is part of our annual \u201cYear Ahead\u201d package. Read the rest of our predictions for 2023 here.<\/i><\/p>\n<hr\/>\n<p><em>This article appears in print in the December 2022 issue of<\/em> Maclean\u2019s <em>magazine. Buy the issue for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/canadianmags.ca\/collections\/macleans-single-issues\">$9.99<\/a> or better yet, subscribe to the monthly print magazine for just\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/canadianmags.ca\/collections\/macleans-single-issues\">$39.99<\/a><\/em>.<br \/>\n<img loading=\"lazy\" decoding=\"async\" data-sizes=\"auto\" class=\"aligncenter wp-image-1242158 size-full lazyload\" src=\"https:\/\/www.macleans.ca\/wp-content\/uploads\/2022\/12\/Cover_January_DRE-e1669907996601.jpg\" alt=\"\" width=\"666\" height=\"909\"\/><\/p><\/div>\n<p><script async defer crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.macleans.ca\/year-ahead\/year-ahead-business-recession-union-climate\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;The Year Ahead: Business in 2023&#8221; &#8220;In other words, fasten your seatbelt&#8221; Supply chains will freeze while air-travel choices expand. Tech unicorns prove resilient, the cannabis retail boom goes bust and everyone wants a side of feel-good social responsibility with their profits.\u00a0Here\u2019s a look at the year ahead in the world of business:\u00a0 1. This&#8230;<\/p>\n","protected":false},"author":1,"featured_media":522761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.macleans.ca\/wp-content\/uploads\/2022\/12\/YA-WEB-026-766x431.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[7309,43485,91261,136847],"class_list":["post-522760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-unions","tag-climate-change","tag-recession","tag-year-ahead-2023"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/522760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=522760"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/522760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/522761"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=522760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=522760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=522760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}