New Toolkit Launched to Support Local Businesses with Advice on Managing Tariff Risks
Peterborough, ON – April 9, 2025 – In response to the ongoing trade challenges posed by United States tariffs, Community Futures Peterborough, in collaboration with the Business Advisory Centre, the City of Peterborough, the County of Peterborough, the Peterborough Downtown Business Improvement Area (DBIA), and Peterborough + the Kawarthas Chamber of Commerce, has launched the Tariff Toolkit—a strategic resource to support businesses in our community.
The evolving trade landscape between Canada and the United States has created uncertainty for local businesses. With tariffs and counter-tariffs shifting frequently, businesses need actionable strategies to navigate these challenges effectively. On March 4, Community Futures Peterborough and its partners came together at Market Hall Performing Arts Centre to connect businesses with industry experts who provided initial guidance on minimizing the impact of tariffs. While the specifics of the tariffs may change, the need for businesses to rethink their approach to trade remains constant.
“We have always been mindful of not only the direct impacts tariffs themselves have on businesses but also tariff speculation and lasting change in consumer buying patterns. Those are the effects our area businesses are feeling right now”, says Devon Girard, executive director of Community Futures Peterborough.
“Businesses have the opportunity to thrive when the marketplace is stable and predictable. The unpredictability thrust on the global market by the Republican Administration in the United States has placed us in an unstable situation that is difficult for any industry to navigate. Initiatives like the Tariff Toolkit from Community Futures provide our local job creators with some tools to help them navigate this uncertain time and find ways to better position themselves to have the resilience needed to successfully navigate the choppy waters and come out stronger,” said Dave Smith, Member of Provincial Parliament, Peterborough – Kawartha.
The Tariff Toolkit is designed as a practical resource to help businesses assess their current trade strategies and explore new opportunities. This guide offers insights and actionable steps that businesses can work on with their advisors to develop a resilient approach to international trade.
“Our businesses are the backbone of our local economy – employing our friends, families, and neighbours, while producing high-quality goods and services. Tariffs and global uncertainty are taking a toll and having an impact on our businesses,” said Peterborough County Warden Bonnie Clark. “This toolkit is designed to strengthen small businesses as they work through these imposed tariffs and consider diversifying their strategies, products, and services.”
“The tariffs imposed and threatened by the United States are a significant threat to businesses in Peterborough. Our local businesses play a critical role in our community, and the City of Peterborough is committed to working to protect and support our local economy,” said Peterborough City Mayor Jeff Leal. “I want to sincerely thank Community Futures Peterborough for putting together this excellent resource to help Peterborough businesses navigate this challenging situation.”
“Downtown businesses are navigating an increasingly complex trade environment, and the Tariff Toolkit arrives at a critical time. It equips our businesses with the practical strategies and expert insights they need to adapt, stay competitive, and build long-term resilience. We’re proud to support this initiative and ensure our local business community has every opportunity to thrive—no matter the global challenges,” says Nour Mazloum, Executive Director of the Peterborough Downtown Business Improvement Area (DBIA).
The Tariff Toolkit offers businesses guidance in key areas, including understanding the financial impact of tariffs, identifying alternative sourcing strategies, expanding customer bases beyond tariff-affected regions, mitigating financial exposure through hedging and risk management, repositioning brand messaging in response to trade shifts, and leveraging local and international partnerships to drive growth. It is available to all businesses in the City and County of Peterborough.
For more details, visit Community Futures Peterborough
https://communityfuturespeterborough.ca/programs/tariff-toolkit/
About Community Futures Peterborough
Community Futures Peterborough has a mission to support small businesses with flexible financing in the City and County of Peterborough. It has invested more than $42 million in 1,300+ small businesses since 1985, creating or maintaining more than 4,300 jobs in the City and the County.