Week
October 20th - 26th, 2013
A celebration of entrepreneurship LOCAL EVENTS CAMPBELL RIVER CHAMBER OF COMMERCE 2013 Business Expo
Tuesday, October 22nd www.campbellriverchamber.ca
Business Network International Meeting
Wednesday, October 23rd www.bnidiscovery.bnisite.com
SUCCESS AHEAD!
Map Your Future Growth!
Campbell River Networking Association Meeting Thursday, October 24th www.campbellrivernetworking.ca
Young Professionals of Campbell river 2013 Gala Friday, October 25th, 2013 www.ypcampbellriver.com
WHEN EXPERIENCE MAKES THE DIFFERENCE We are proud to be a 100% locally owned small business, who support many Cambpell River events throughout each year.
1710 Island Hwy, Campbell River • 250-286-6132 associatedtire@shaw.ca www.associatedtireandauto.ca
SMALL BUSINESS WEEK ASSISTED LIVING SERVICES FOR THE ELDERLY & HOUSEBOUND • • • •
Personal Care - Bathing, Dressing, Shaving Housekeeping/Meal Preparation Driving to Hospital or GP Appointments Shopping
Small businesses to our economy Small and medium sized businesses are the cornerstone of the Canadian economy. They account for 99.8% of all Canadian companies and employ more than 60% of private sector workers. On the week of October 20th join other Campbell River Entrepreneurs and support them in building successful, innovative businesses. This years theme is 26 under: SUCCESS AHEAD! MAP YOUR FUTURE GROWTH. Every business begins with an idea and a vision. Yet the roadmap to growth is never simple. Canadian entrepreneurs know that long term success requires passion, commitment, hard work, a great offering and a solid plan. Expanding your market whether at home or abroad demands determination and adaptability, resources, an appetite for greater risk and even a little luck.
........................................................................
History of small business month Josie Coak 778-346-4446 • charcare@shaw.ca
20
$
00
OFF
BDC Small Business Week™ is a Business Development Bank of Canada (BDC) trademark whose origins date back to 1979 when BDC business centres in British Columbia’s Lower Fraser Valley pooled their resources to organize a week of activities for entrepreneurs. This first event and one that followed in 1980 were so successful that BDC officially launched Small Business Week across Canada in 1981. The initiative was quickly adopted by Canada’s business community. In 2012, over 200 activities across Canada attracted close to 10,000 business people to BDC Small Business Week™. This BDC flagship event celebrates entrepreneurship at the local, provincial and national levels.
EVERY VACUUM IN STORE
Miracle Way Vacuum Systems
........................................................................
A quick look at small and medium sized businesses
13 years experience
Kris & Jack
850 – 12th Avenue (across from price’s alarms)
250-286-1202
Monday to Saturday 9:00 am to 5:30 pm
LARGEST VACUUM STORE THIS SIDE OF NANAIMO
Small and medium sized businesses are big in Canada: 98.1% of businesses have fewer than 100 employees and contribute slightly more than 30% to Canada’s GDP. In a global economy, exports add significantly to economic growth. 86% of exporting companies are small (<100 employees), but produce only 25% of the total value of Canadian exports; the majority of exports (57%) are provided by large firms. Almost 55% (615,599 firms) are micro businesses (1-4 employees). SMEs employed 63.7% of private sector employees in 2011, or 6.8 million people across the country. In 2011, SMEs created about 79 000 jobs. Over the 2001 to 2011 period SMEs were responsible for 53.9% of all jobs created on average in the private sector.
Get the latest updates on major projects in Campbell River
Presenting Sponsor: Presenting Sponsor:
Get the latest updates on major projects in Campbell River
Presenting Sponsor:
Networking Reception Networking Reception Sponsors: Sponsors: Networking Reception Sponsors:
Build your networks and prepare to compete Build your networks and prepare to compete
CAMPBELL RIVER CAMPBELL RIVER CHAMBER
Connect Grow Prosper
CHAMBER
Connect Grow Prosper
Lunch and appetizers provided by:
Register today while booths are still available
Lunch and appetizers provided by:
Register today while booths are still available
Reasons to exhibit and participate • Establish new contacts and expand your network
Reasons to exhibit and participate • Raise the profile of your business
• Establish new contacts and expand your network • Get the latest updates on major projects • Raise the profile of your business • Help your business prepare to compete • Get the latest updates on major projects • Gain practical HR knowledge to access a skilled workforce • Help your business prepare to compete • Think Local. Support Local Business • Gain practical HR knowledge to access a skilled workforce • Think Local. Support Local Business
Tuesday, October 22th from 11 – 3 at the Campbell River22th Community Tuesday, October from 11 Centre – 3 at the Featuring a construction and major projects panel Campbell River Community Centre Featuring a construction and major projects panel More information and registration forms online at www.CampbellRiverChamber.ca More information and registration forms online at www.CampbellRiverChamber.ca w w w.CampbellR iverChamber.ca
N MISSIOME D A E E FR WELCO PUBLIC MISSION D FREE A WELCOME C I PUBL
SMALL BUSINESS WEEK
E-commerce revolution NOT SELLING ONLINE YET? HERE’S WHY YOU SHOULD.
E
-commerce is revolutionizing the way Canadians do business, but Canadian entrepreneurs are missing out. Just 10% of small businesses were selling online last year, Statistics Canada says.
ing to research firm eMarketer. “The world is moving toward this type of commerce,” says Anita Bezeau, Assistant Vice President, Information and Communication Technology Solutions at the Business Development Bank of Canada (BDC). “Canadians are online, but Canadian businesses aren’t there. The result is Canadian consumers are buying online from the U.S. and other countries.” Get your feet wet The good news: It’s never been easier or cheaper to get started in e-commerce. No longer do businesses need to invest huge sums in an e-commerce website. You can create a sales-ready site with no programming knowledge using free services such as OpenCart and PrestaShop, or inexpensive providers such as Shopify and eBay Stores.
Meanwhile, Canadian consumers spent an estimated $21 billion on online purchases last year, up nearly 30% in just two years, accord-
These sites come with an online shopping cart, product catalogues and the ability to pay via credit cards or other methods, such as PayPal. Also included are options for customer reviews and feedback, and data on your sales to help you track performance. “If you know how to use e-mail, you can build an e-commerce site in 15 min-
utes,” says Harley Finkelstein, Chief Platform Officer at Shopify, a leading e-commerce website provider. E-commerce can level the playing field for small businesses, including those in small towns, Finkelstein notes. Online sales allow you to punch far above your weight in attracting customers. With a well-designed website, a small business can reach as many people online as a much larger company. Plus, your site can be seen worldwide 24 hours a day, and internet marketing tends to be cheaper than traditional methods. “The Internet has democratized entrepreneurship,” Finkelstein adds. “Thanks to the Internet, I think the future of commerce belongs to small businesses.” Another advantage: E-commerce lets businesses test products and marketing approaches at little cost, while getting quick feedback from potential customers.
1
The online advantage Unlike a bricks-and-mortar store, where you might be stuck with the same product display for months because of the investment, an e-commerce site can be changed for free in minutes to include new products or a different look, Finkelstein says. You can then quickly check your web traffic data to see how clients are responding to your changes. E-commerce allows the kind of trial and error that entrepreneurs often need to do before succeeding, Finkelstein says. “One of the advantages of online sales is you can pivot quickly.” Bezeau agrees: “The cost of entry is very low. The Internet allows you to try and fail and learn.” Selling over the Internet helps streamline order processing, reducing costs and errors, Bezeau adds. And it offers businesses a “huge competitive edge” because of the convenience of online ordering, she says. “The more convenience you create for clients, the more they’ll stick with your business.”
3 tips for e-commerce success
Start small Don’t get bogged down trying to create a huge, high-end website featuring hundreds of products. Start with a free or low-cost e-commerce site, and test three or four products to gauge customer interest while working out the kinks in your ordering and fulfilment process.
2
Test and learn Don’t expect to succeed with your first efforts. “It’s really about learning,” BDC’s Anita Bezeau says. “Technology allows us to do and test quickly and economically.”
3
Be attractive In your online store, feature attractive product images, clear descriptions and an easily navigable layout, so visitors can quickly find what they’re looking for and make a purchase. Also, engage visitors with fun and educational extras: how-to tips for products, interesting videos and background information on the story of your company.
BDC SMALL BUSINESS WEEKTM October 20–26, 2013 SUCCESS AHEAD!
MAP YOUR FUTURE GROWTH Learn, network, celebrate!
Energy Efficient Radiant Natural Gas Fireplaces With impressive EnerGuide Ratings. ValorStat Plus remote control standard with purchase.
MARION WITZ Elizabeth Grant International
The ValorStat Plus remote control gives you the power to select, adjust and program the desired temperature that you want. Timer and Thermostat mode help save energy and lower your home heating costs. Pilot On Demand: The ValorStat Plus also has the ability to turn your pilot light on and off from the programmable handheld remote.
1702 N. Petersen Road 250-286-0051 Email: qualitystoves@telus.net Website: www.qualitystoves.ca
Nanaimo Business Centre David Thagard, Account Manager in Campbell River 250 923-9312 david.thagard@bdc.ca bdc.ca/sbw
SMAll bUSinESS WEEK Ride the gr owing wave...
Boomers and your
business How canada’s aging population could hurt businesses—and help them
301 St. Ann’s Road, Campbell River, BC V9W 4C7 250-286-5700 • info@campbellriver.ca • www.campbellriver.ca
W
BEAT THE EXORBITANT FUEL PRICES with a GNX Breeze S 4 Wheel Electric Scooter 1) 2) 3) 4) 5) 6) 7) 8) 9)
e all know Canada’s population is aging. But how will changing demographics affect your business?
May be used year round 18 km speed & up to 40 km range Double seat available Lease to purchase program - max 3 yrs. Bumper to Bumper power train warranty - 36 mo. Savings on fuel purchases will pay for it. Uses: Commuting - avoiding traffic build-up by utilizing sidewalks Permits all weather use. Climbs 18% grade hills
First, the good news. Aging consumers have different buying habits, so that means opportunities if you’re creative. The bad news is that as baby boomers retire, many businesses will face labour shortages because not enough younger workers will be around to take their place. OPEN: Mon. thru Fri. 10am-4 pm CLOSED: Sat, Sun, & Stats Campbell River Common 1454 Ironwood St. 250-287-2909
it won't interrupt even the sweetest dreams. SLP98V 98.2% Efficient Natural Gas Furnace - Oil Conversion Rebate $1000 *Remote access via smartphone, tablet or laptop
until Dec. 31, 2013
- $300 to $800 in additional rebates see store for more details
SAVE UP TO 50% OFF YOUR HEATING COSTS when you convert your existing oil furnace to a natural gas furnace
“Your Indoor Comfort Specialist since 1961”
1721–14th Avenue, Campbell River 250-287-3108 Monday - Friday 9:00am - 4:30pm
NATURAL GAS • FIREPLACES • FURNACES • PATIO HEATERS
FURN
T L G A S I N S E R TS • S E RV I C E • PA R TS • F U R N AC E S • N AT U R A L G A S • PAT I O H E AT E R S • H O T W A
So quiet...
AT U R A L G A S • PAT I O H E AT E R S • H O T W AT E R TA N K S • I N S E R TS • S E RV I C E • PA R TS •
E R TA N K S • N AT U R A L G A S I N S E R TS • S E RV I C E • PA R TS • F U R N AC E S • N
Either way, businesses that don’t adapt to the reality of the aging population could face severe challenges and are going to miss opportunities, says Pierre Cléroux, Chief Economist at the Business Development Bank of Canada (BDC). The impacts are already being felt in some sectors and regions where businesses are struggling to find younger employees to replace retiring boomers. “If we don’t manage our labour force according to the new trends, it’s going to be difficult for businesses to be successful,” Cléroux says.
Retain older employees In the next 20 years, the median age of Canadians is expected to rise to 45, up from 26 in 1991, Statistics Canada projects. Twenty years ago, nearly two people entered the labour force for every person nearing retirement. Today, the ratio is one to one, and it is expected to drop further. Happily, Cléroux says entrepreneurs can take steps to adapt—and even find opportunities by reviewing how to adapt products and services to an older consumer’s needs. “Every sector of the economy is going to be impacted,” Cléroux says. To deal with the coming labour crunch, you can start by creating more accommodating workplaces to entice aging employees to put off retirement, he suggests. Older workers often can’t or don’t want to work full-time. Flexible hours, part-time
jobs and temporary work are ways to keep them on board. Some companies also deliberately recruit seniors to fill labour gaps. “Older workers usually have a great work ethic and experience,” Cléroux says. “Businesses will need to keep their people working for them longer. The perception is that at 65 people are done. That perception will have to change.” Les MacIntyre is a firm believer in retaining older employees to make up for a shortage of younger workers at his company, Superport Marine Services. He has no mandatory retirement age and offers retirees flexible, part-time and temporary jobs. He also pairs them with younger workers to pass on skills. “Those guys pick up a wealth of expertise. The retired guys have the patience to pass on that knowledge. They bring a lifetime of skill,” he says. MacIntyre also works hard to foster a positive workplace culture so retirees are eager to come back. “I try to instill a stimulating and satisfying workplace so they enjoy working here and I have a high retention rate.”
Immigrants are key Another solution is immigration, which has always been important in addressing labour shortages in Canada, Cléroux says. That role will grow: 20 years from now, 32% of the labour force will have been born outside Canada, versus 21% today. Cléroux says Canadian entrepreneurs will need to be more welcoming to foreign-born workers. “Businesses will have to be more flexible in accepting people trained, educated and born outside Canada.” Creative changes will be needed to remain competitive, he adds. “We can no longer do the same things as in the past. The structure of the last 40 years is going to have to change. But if we do things correctly, we should be able to retain Canada’s competitive position.”
C E S • N AT U R A L G A S • PAT I O H E AT E R S • H O T W AT E R TA N K S • N AT U R A A
SMALL BUSINESS WEEK
Financing business growth What you need to know before you go to the bank Say you’ve got a small business in need of a loan. You’re growing, and you’d like some extra money for an expansion project. Sales are going up, and you’re making a nice profit. Should be an easy sell to the bank, right? Not necessarily, especially if you don’t do your homework, says Pat Latour, Senior Vice President, Financing and Consulting, at the Business Development Bank of Canada (BDC). “If you’re going to expand, you’ve got to have a plan. If you don’t, you can jeopardize the rest of the business that is doing well,” he says. Many businesses walk into a bank’s office without the right planning—and then they’re surprised when their loan request is turned down. “Knowing the numbers is key. How will the expansion affect your profitability?” Latour asks. “Growing businesses need more working capital because they’re often supporting additional inventory and more staff.
And it often takes a while for the expansion to increase profitability,” Latour explains. “On the other hand, an expansion can also lead to unexpectedly rapid revenue growth. Entrepreneurs should also plan for that scenario and be ready to use the extra revenue to aim even higher,” he says. How do you get your ducks in a row for a successful loan request? First, take time to work out your anticipated return on the investment, including not just the cost of the fixed asset, but also the way your business operations will change as you grow. Second, it’s vital to think about your timing when applying for a loan. Businesses often wait too long, Latour says. Instead, they use cash flow to finance major expansions or, even worse, wait until they’re facing a cash crunch to see the bank.
a 1,500-square-foot space in 2001, it had grown to a 10,000-squarefoot location by 2007. But even that space was maxed out, and Darrah wanted to expand into a new, bigger building. He had always used working capital to finance his growth, but he now realized he needed a loan for the costly expansion.
“One of the biggest reasons businesses fail or an expansion doesn’t succeed is a lack of working capital. It’s always easier to get financing beforehand than when you have a timing crunch,” he says.
He was in for a surprise when he approached a bank and was initially turned down. Despite sales growth of 25% to 30% per year, he had been spending all his operating cash and writing off equipment every year. “It looked like we didn’t have many assets,” Darrah says, who then hired an accounting firm to help him demonstrate his company’s true value.
Latour advises fast-growing businesses to meet their banker every year to get a pre-approved loan for capital expenditures, which they can draw on instead of tapping working capital. Such a credit facility also lets a business react more quickly to opportunities, since it doesn’t need to apply for a new loan each time it needs funds.
The bank took another look and agreed to the loan, which allowed Pace to move into its own new 25,000-square-foot building in 2010. Darrah also got a line of credit for future capital spending. “What prevented us from taking the next step was always spending all our cash. It was really clear we needed to change to grow.”
Change to grow Sean Darrah learned some of these lessons at his fast-growing food services business, Pace Processing. Starting from N E L S O N
R O O F I N G
&
S H E E T
M E T A L
We stand behind what we install.
It’s time to start thinking about keeping warm!!!
Serendipity in the Garden 968 Shoppers Row | 250-287-9949 | Mon.-Sat. 10am - 5:30pm
• Full breakfast menu daily • Great prices • Specialty coffees • Tasty eats and sweet treats • WIFI and more!
CALL NOW FOR RESIDENTIAL AND COMMERCIAL • FREE ESTIMATES •
North Vancouver Island’s Largest & Most Trusted Roofing Company. P R O U D LY A F F I L I AT E D W I T H :
ROOFING & SHEET METAL Serving Vancouver Island & the Sunshine Coast for over 30 yrs.
250-336-8088
nelsonroofing.com
Located in the Royal Coachman on Dogwood Street • 250-286-1112
“A GUARANTEE IS THE COMPANY COMPANY BEHIND “A GUARANTEE IS ONLY ONLY AS AS GOOD GOOD AS AS THE BEHIND IT” IT”
LTD.
SMALL BUSINESS WEEK LUXURIOUS COCKTAILS
2ND ANNUAL
GALA
DINNER DANCING DOOR PRIZES
The evening will include: • introduction of the Friday, October 25, 2013 new executive board • recognition of the outgoing 6:00 pm board members Maritime Heritage • culture, conversation and connections.
Centre
Seymour Pacific Developments Ltd. is the presenting sponsor and the YPCR has received support from many of Campbell River’s businesses and organizations to ensure the event is a success. Dress up and show your support for local initiatives in Campbell River. Everyone welcome! Proceeds from the Gala go to the Discovery Passage Aquarium.
Tickets available only through the YPCR website www.ypcampbellriver.com (not available at the door, adult only, over 19). The event is expected to sell out. The YPCR would like to thank Seymour Pacific Developments Ltd. as well as their gold level sponsors 97.3 The Eagle, The Campbell River Mirror and Fusilli Grill for their support and partnership. For more information on the YPCR please email Elise Gregg at membership@ypcampbellriver.com
Business success is the sum of small efforts, repeated day in and day out.
Supporting small businesses in Campbell River since 1971.
2013 Business Expo
T
he Campbell River Chamber of Commerce Business Expo is a high engagement, business-to-business event that provides excellent opportunities for local businesses and suppliers to profile their business, connect with other exhibitors, and identify opportunities to collaborate and leverage opportunities related to the transition that our community is undergoing. “Many of our exhibitors also use this event as a client and customer appreciation opportunity,” says Colleen Evans, Chamber President. “In addition to potential business and new clients that may arise from meeting the other exhibitors, past exhibitors have told us that they use the expo to have quality face-to-face time with their clients and potential clients.” “It’s sometimes really hard in a busy business to get those few hours to dedicate to client appreciation so many of our exhibitors invite their clients and suppliers to meet them at the expo and they provide gift bags or draws for them to enter while they are there,” further added Evans. This year join us and hear from a panel of key construction and major projects representatives that will provide updates on key construction projects in our community, accessing a skilled workforce and
information that will help our local businesses and suppliers prepare to compete and maximize these opportunities. The panel will be of interest to exhibitors and the public alike. The Business Expo will be held on Tuesday, October 22nd at the Campbell River Community Centre from 11 – 3 PM. The panel presentation will begin at 1:30. Attendees and participants will be encouraged to enter a draw at the Chamber’s booth for round trip airfare for two between Campbell River and Vancouver, courtesy of Pacific Coastal Airlines. Admission is free to the public. The expo is presented by the Chamber and sponsored in part by BC Hydro with support from Berwick Retirement Communities and Canadian Western Bank. Quay West Kitchen & Catering will be onsite throughout the event and will be providing complementary appetizers after the panel’s presentation.