Business
Matters Vol. 5 Issue 3
www.victoriachamber.ca #100-852 Fort Street, Victoria BC V8W 1H8
May/June 2009
Access to Capital A Big Deal For Small Business
Publications Mail Poste-Publications
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ABOUT BUSINESS MATTERS Business Matters is the news magazine of the Greater Victoria Chamber of Commerce. It is published six times per year and distributed free-of-charge to members of the GVCC.
contents
may/june 2009 l vol. 5 issue 3
cover 8
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Business Matters’ content is copyrighted: Greater Victoria Chamber of Commerce, Victoria, B.C., Canada.
Access to Capital: A Big Deal for Small Business
feature article Transportation Vancouver Island
To advertise in BUSINESS MATTERS Contact: GVCC Account Representatives (250) 383-7191 chamber@gvcc.org
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also inside 6
2009 Greater Victoria Business Award Winners
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in every issue 4 5
The Chamber accepts no responsibility for unsolicited submissions. The business profiles, and the views and opinions expressed by advertisers in this publication are not necessarily those of the Chamber.
Messages from the Chair and CEO Members News
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Events Calendar
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Prodigy Group
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Greater Victoria Development Agency
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New Members
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Policy Moves
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Ask An Expert
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SUBMISSION GUIDELINES Send all magazine submissions to: srenault@gvcc.org Please respect the length guidelines as outlined below. Longer items will be edited. Member Letters: 200 words Ask an Expert: 300 words (include high resolution photo and position title) Member News: Standard one page media release
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TARGET THE BUSINESS COMMUNITY.
ADVERTISE IN THE CHAMBER’S BUSINESS MATTERS MAGAZINE.
250.383.7191 ext. 0 • www.victoriachamber.ca
messages
John Juricic Chair As a business person, I am keenly aware of the number
of balls that one must juggle to keep things going and growing in business as well as remain aware of the external environment that could impact on business operations up the road. Acting now with a view to the future is not always an easy task. Over my years of involvement with the Chamber, I have learned that keeping an eye on the external environment is something that the Chamber does well. We were pleased to be involved in budget talks with the federal government this past fall and early spring and also to be able to assist in the advocacy efforts to see federal and provincial infrastructure dollars invested in our region. We have had two large projects announced that we were advocating for, mooring dolphins at Ogden Point and the McTavish interchange. We’ll continue to work for the approval of other projects with the potential for long-term economic impact. Later this month, our chamber will be attending the BC Chamber of Commerce Annual General Meeting, where issues of importance to the business community are debated and policy positions passed. This is a big event for the chamber, and the Greater Victoria Chamber of Commerce is very active in leading policy discussions. There is a lot that goes into acting as the Voice of Business in our region with the number of important issues the chamber works on at any given time. As each of us is aware, it’s very challenging to simultaneously address regional issues as well as run our businesses. The Chamber is exemplary at taking that burden off the individual and advocating our collective interests as the Voice of Business. Whether it’s speaking up on municipal taxes, advocating for senior government investment in our region, or making sure there is practical business input on the social issues that impact on business operations, the chamber of commerce is involved. It’s great to be involved with a dedicated group of professionals and benefit from their collective work. It gives each of us time to focus on our own businesses.
Bruce Carter Chief Executive Officer The Chamber’s annual Greater Victoria Business
Awards in April gave us an opportunity to celebrate some great successes in our business community and to shine a light on what small business means to our region. All of the award winners this year were locally owned small businesses or companies that started out local and grew to larger corporations. With the shift in the global economy, small business has been facing quite a different environment since the fall of 2008. The experience is not the same for everyone. Some companies haven’t noticed the recession whereas others are working harder than ever to keep their businesses in the black. Some smaller businesses are having a difficult time accessing capital at affordable rates and others seem to have adequate financing. It is certainly a mixed bag. It is during times of challenge, like the downturn in the economy, when the entrepreneurial spirit truly shines. Business simply gets more creative in their marketing and their methods of doing business. Business people work hard at the best of times and harder in difficult times. The winners we applauded at our awards in April attest to the outcome of that hard work. We are beginning to see signs that the uncertainty of the last eight months is starting to ease. The economic challenges of other jurisdictions, though felt here, have not affected us as significantly as predicted. Canadian consumer confidence is making a recovery. The ground should become firmer under our business feet in the coming months. We encourage small business people to continue doing what they do best. Staying focussed on the objective of running a profitable business, being creative in dealing with the current conditions, and coming out the other end intact and strong. Every cycle passes. Odds are we will have a sharp and seasoned business community at the end of this one.
Divisions of the Jim Pattison Broadcast Group
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Business Matters
membernews
Jessica Vreeswijk, founder of Terrabytes Consulting, has been appointed to Business Trends Quarterly’s ‘Green Enterprise’ panel. The Green Enterprise was recently created by Business Trends Quarterly (BTQ) to offer thought leadership about green business practices. A panel of experts will offer advice on best practices for implementing and maintaining sustainable business systems. Vreeswijk brings a strong knowledge of the role IT can play in greening businesses. Terrabytes Consulting is a leading green information techonology firm in Canada that helps organizations measure and manage the environmental impact of their IT operations. Terrabytes works with mid and large-sized organizations across Canada and the US. www.terrabytesconsulting.com Stan Verran, Chief Executive Officer of Commissionaires for Victoria, The Islands and Yukon, is pleased to welcome Captain(N) (Ret’d) Kevin Carlé as Director of Marketing and Sales. Carlé has recently retired with over 32 years in the Canadian Forces with experience that includes Director of Peacekeeping Policy at National Defence Headquarters. Prior to that, he was Canada’s Defence Attaché to Poland, the Czech Republic, Slovakia, Latvia, Lithuania and Estonia. Commissionaires is Canada’s oldest and most experienced private security provider. The division which is headquartered in Victoria, employs
Business Matters
1,000 members, many of whom are Canadian Forces and RCMP veterans. Hemlock Printers has achieved carbon neutral status. It is the first printing company in Canada to gain this distinction. To achieve carbon neutrality, Hemlock worked closely with Offsetters, Canada’s first carbon offset provider, to assess their existing carbon footprint. The companies then jointly created greenhouse gas reduction strategies and sourced high quality offsets for greenhouse gas emissions that could not be reduced. Hemlock has set a target of 33% reductions in absolute GHG emissions by the year 2020, meeting the target set by the BC Provincial Government.
Heart disease and stroke remain the leading cause of death in Canada. Funds raised from the Heart & Stroke Big Bike go towards life saving research, promotion of healthy living, and advocacy for health reform. To register a team in the Heart & Stroke Big Bike, contact Barbara Haley, Area Manager for the Victoria Area Office for details, and visit www.bigbike.ca to see photos of the Big Bike.
Member News continued on pg. 24-25.
In addition to carbon neutrality, Hemlock has recently won the prestigious Heidelberg Eco Printing Award 2008 for “Most Sustainable Printing Company” establishing itself as a global leader and innovator of environmentally progressive printing practices. The Heart & Stroke Big Bike is peddling back to Greater Victoria and it’s looking for new riders! In 2008, Greater Victoria Big Bike riders raised more than $121,000 to fund groundbreaking heart and stroke research. This year they hope to do even better, with a goal of raising $140,000 locally and $7 million across Canada. Big Bike is a bicycle built for 30 that travels across Canada from April to September. It will be making its way along high-profile routes through more than 200 communities across nine provinces.
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2009 Greater Victoria Business Awards Winners Special Thanks to Event Sponsors:
Governors’ Lifetime Achievement Award Alex A. Campbell Thrifty Foods Founder
ALEX A. CAMPBELL
Entering the grocery industry in 1956 as a young student, Alex A. Campbell worked his way up to become District Manager for Shop Easy stores in Vancouver. In 1977, in conjunction with friend and business colleague Ernie Skinner, they opened the first Thrifty Foods store, located in Victoria’s Fairfield community.
Business Person of the Year Margaret Lucas, Hotel Rialto
Throughout his 50-plus-year career in the grocery industry, Alex A. Campbell has received countless awards for entrepreneurship and extensive community involvement. In 2007, Alex made what he felt was the best decision for the continued success of Thrifty Foods and announced the sale of the company to Sobeys Inc., a leading national grocery retailer wholly-owned by Empire Company Limited of Stellarton, N.S.
MARGARET LUCAS
RUNNER UP FINALIST: Brian Sharp, DFH Real Estate Ltd.
(250) 383-4157 • www.hotelrialto.ca
Business Leadership
Employee of the Year
Accent Inns
MANDY FARMER
RUNNER UP FINALIST: Dodd’s Furniture & Mattress
(250) 360-1511 • www.accentinns.com
Business of the Year (1-10 Employees)
Sheri Kasnik Island Savings Credit Union
RUNNER UP FINALIST: Darcy Westfall, Neverblue
SHERI KASNIK
(250) 385-4728 • www.iscu.com
Business of the Year (11-25 Employees)
SW Audio Visual
BRENT NICHOLSON
RUNNER UP FINALIST: Cedarwood Productions Inc.
(250) 220-2609 • www.sw-online.com
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Robinson’s Outdoor Store
GAYLE ROBINSON
RUNNER UP FINALIST: Island Displays
(250) 385-3429 • www.robinsonsoutdoors.com
Business Matters
www.victoriachamber.ca Sustainable Business Practices
Business of the Year (26-75 Employees) Neverblue
Monk Office
ROSS HILL
RUNNER UP FINALIST: Fiber Options Naturals
(250) 384-0565 • www.monk.ca
Employer of the Year
THE STAFF AT NEVERBLUE
(250) 386-5323 • www.neverblue.com
Business of the Year (76+ Employees) Victorian Epicure Inc.
Megson FitzPatrick Inc.
BRENDA IRELAND
RUNNER UP FINALIST: ASPECT
(250) 595-5212 • www.megsonfitzpatrick.com
Outstanding Customer Service
SLYVIE ROCHETTE & AMELIA WARREN
RUNNER UP FINALIST: Food For Thought Catering
(250) 385-3429 • www.robinsonsoutdoors.com
Young Entrepreneur of the Year
RUNNER UP FINALIST: Victoria Shipyards Co. Ltd.
(250) 656-5751 • www.victorianepicure.com
Innovation
Robinson’s Outdoor Store
ROBINSON’S OUTDOOR STORE
RUNNER UP FINALIST: A1 People Care Ltd.
Island Displays
RODD MCCORMICK
RUNNER UP FINALIST: Schneider Electric
(250) 385-3541 • www.islanddisplays.com
New Business
Scott Dewis, Race Rocks Digital
SCOTT DEWIS
RUNNER UP FINALIST: Ross Dunn, StepForth Web Marketing Inc.
(250) 418-0113 • www.racerocksdigital.com
The Root Cellar Village Green Grocer Ltd.
PHIL LAFRENIERE, DAISY LESLIE-ORSER, ADAM ORSER
RUNNER UP FINALIST: Ooh la la Cupcakes
(250) 477-9495 • www.therootcellar.ca
Special Thanks to Award Sponsors:
Business Matters
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ACCES
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SS TO CAPITAL A Big Deal for Small Business
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ccess to capital has been a familiar chorus in the business community since the economic downturn in the fall of 2008. It has certainly made the newspaper headlines and has been the topic of many discussions at formal and informal business gatherings. Yet difficulty in accessing capital is not a straight forward issue. It appears to be highly dependent upon the size of company, type of business and the company’s financial history with its bank.
This significant reduction in money in the capital markets means that Canadian banking institutions literally have less money to lend out.
Is it right to suggest that now that the market system of supply and demand is kicking in government should become involved in any way?
When the potential gravity of the recession came to light last fall, the federal government pledged to improve access to capital for business – fully aware that if businesses are not fluid that the affects of the downturn would be more far-reaching than they would otherwise be. In November of 2008, they announced that they would provide up to $200 billion in new credit through the Extraordinary Funding Framework to Canadian businesses most affected by the financial crisis. Thirteen billion dollars of that will be delivered through existing programs with the Business Development Bank of Canada and Export Canada and through further funding increases allocated through increases to the Small Business Financing Program. However, given the nature of the program, it is most likely that these funds will assist Small and Medium-size Enterprises (SMEs) and larger companies. They may offer little opportunity for businesses with more modest financial needs, particularly micro-business with less than 50 employees and even less for micro-business, with 4 or less employees. And therein lies what appears to be the problem. Many companies in our province, and certainly a good percentage of members of the Chamber of Commerce, are mico-businesses. When seeking funding, they are likely seeking loans of less than $100,000 to $200,000, and may just be looking for extensions on an existing line of credit. What we have found from these micro-businesses is that for them, the capital market has tightened up, or at best become more expensive. So what is going on in banking really? Can local companies access the capital they need to keep running? Issues regarding access to capital are multi-layered and it is far too simplistic to just assert the banks are not lending. Chartered banks and credit unions are lending, but conditions have changed somewhat since this time last year. More than a trillion dollars was written off in the world markets as the economic foundations began to unravel in the United
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Business Matters
States and the UK. That is capital that would have otherwise been available as leverage for banks around the world. It is the foundations upon which institutions are able to provide loans and lines of credit to their customers. By law, Canadian institutions are not allowed to lend out funds that they do not have. This significant reduction in money in the capital markets means that Canadian banking institutions literally have less money to lend out. The lack of capital has resulted in increased competition for funds and this has put upward pressure on rates. The rules of supply and demand apply to capital as well. That means that interest rates on loans and lines of credit to borrowers will go up. And finally, third party lenders, such as investors in venture capital and insurance companies, have retreated from the markets. That retreat makes capital for new innovations more difficult to access. Borrowers who would normally access third party capital are joining in competition for the decreased funds available through the banks and mainstream lenders are more disinclined to take venture capital type of risks. Notwithstanding the change in environment, commercial lenders indicate that they are actively lending to stable borrowers. Their lending policies have not changed, though they may be applying the rules more stringently then they may have been when the economy was more buoyant and they are a bit more selective about client selection.
Yet all of that is still a step beyond what most microbusinesses are looking for. It isn’t the consultant who just needs a $40,000 line of credit to float the company until the receivables come in. It isn’t the new entrepreneur who just needs a $75,000 loan to finance the assets needed to open up the new business. The business plan looks sound, but start-up financing is needed.
Where do those people go? Answer is, again, there is still money. But small financial requests are a higher risk for lenders as they are not subject to the programs we discussed earlier. Loans and lines of credit of less than $100,000 (give or take) are treated as personal borrowing rather than as a commercial transactions. Therefore the borrower, or micro-business, needs to have significant personal asset backing to secure the loan. For many, that is a difficult place to be in. Lenders have indicated that they are still lending to less secure and small proposals like this, but they are far less inclined to soften the rules than they were just a year or so ago. And because the cost of money has increased at its source, those loans or lines of credit will be higher than it was in the recent past. However, as one lender pointed out, the rates are still a fair bit lower than five or six years ago.
The biggest area of change is that banks are far more risk averse, and this has affected large scale developments – those deals that rely to a great extent on pre-market sales to finance their projects. The significant shift in the real estate market and the number of projects that are slowing down or have stopped altogether are making banking institutions less inclined to dedicate a large part of their lending portfolio to that area. However, stable development companies with a long history of good financial dealings with their institutions are still getting the financing they need to carry on business as usual. A lot of it has to do with their own financial capacity and track record. This is likely not the time for new players in the field to think they will hit a home run in the banker’s office. And banks and credit unions are busy. They have no shortage of businesses looking for financing for sound ventures and projects. It’s pretty easy right now for lenders to pick the best of what’s out there and run with that. With a bit less capital floating around and more people looking for it, the principle of supply and demand kicks in once again and the strongest win. Within that mix, part of what makes a proposal one of the strongest is that the business already has a good track record with their lender. As one commercial manager said, “we are taking care of our own customers first.”
Business Matters
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So what does that mean? The fact that money is perhaps more difficult to get or more expensive when you do get it, is really a function of the free enterprise system that capitalism supports. And the conservative approach of Canadian banks has been lauded around the world as superior to any others – it’s the reason why our lending institutions are in better shape than anywhere else on the planet. Is it right to suggest that now that the market system of supply and demand is kicking in government should become involved in any way? There is an ongoing debate in the business community on this question. Should or should not the provincial government have a role in increasing the capital available to small business in this province? And if government were to become involved, what would that involvement look like? Micro-business represents a good portion of the private sector companies in British Columbia. Ninety eight percent of business in BC is small business, and 83% of those are micro-businesses. If those companies are having a hard time keeping solvent due to less access
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to capital, we could have a ground swell of small business collapse. The ripple effect of that throughout our economy would be substantial. Innovation inherently brings with it a certain amount of risk when those ideas are brought to market. Yet without innovation and risk, business loses the potential for exponential growth and provincial productivity deceases. We all lose a bit when there is no appetite for risk. Perhaps there is a role for the provincial government in shoring up the financial environment for small BC businesses. That certainly does not mean bail-outs of any sort. But perhaps there is a role for government to create an environment through a short-term targeted program of loan guarantees to soften the risk associated with access to capital for innovators and mico-businesses with small capital needs. Government assurance to get small and micro-business over the hump of the recession and keep the economy on track is an option to be explored.
Ninety eight per cent of business in BC is small business, and 83% of those are micro-businesses.
Business Matters
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Business Matters
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eventscalendar
May 2009 Monday
Tuesday
Wednesday
Thursday
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Friday 1
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Network with other professionals, one on one. 5:00 p.m. - 7:00 p.m. Strathcona Hotel – Maple Room 919 Douglas St.
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Business Education Series
Sponsored by Sector Learning Solutions Inc. How to Optimize IT in an Economic Downturn – A Roadmap for SMBs 11:45 a.m. - 1:00 p.m. Chamber Office
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Speed Networking
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CEO Coffee Hour
A one hour policy discussion with Chamber CEO Bruce Carter Royal Roads University, Corporate Education # 105-19 Dallas Rd 8:30 a.m. - 9:30 a.m. Members only please.
LD
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AGM & Mayoral Address
Featuring Mayor Dean Fortin 11:30 a.m. - 1:30 p.m. Victoria Marriott Inner Harbour 728 Humboldt St.
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Prodigy Group Mingle
5:30 p.m. - 7:30 p.m. Canoe BrewPub Marina & Restaurant
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Business Mixer
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Hosted by Pacific Rim College 5:00 p.m. - 7:00 p.m. 229-560 Johnson St.
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Business Education Series
Sponsored by Sector Learning Solutions Inc. Group Insurance in Today’s Labour Market 11:45 a.m. - 1:00 p.m. Chamber Office
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Media Training
Terry Brost
Long View Systems How to Optimize IT in an Economic Downturn – A Roadmap for SMBs As many businesses are now painfully aware, the current state of the economy has added increased pressure to manage costs and IT spending more effectively. Join Terry Brost, Practice Leader, Managed IT Services from Long View Systems for this informative seminar.
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Making Your Organization Newsworthy 9:00 a.m. - 5:00 p.m. ‘A’ British Columbia 1420 Broad St.
register a
Business Education Series • May 13
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Business Education Series • May 27 Robert Jack
Jack Insurance & Financial Services Group Insurance in Today’s Labour Market Group Insurance Benefits such as extended healthcare and dental have become an integral part of an employees overall compensation plan and are important for attracting and retaining the best employees. Robert Jack of Jack Insurance & Financial Services will give you all the information you need to create a low-cost and attractive benefits program.
Business Matters
June 2009 Monday
Tuesday
1
CEO Coffee Hour
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A one hour policy discussion with Chamber CEO Bruce Carter Maximum Furniture, #3-576 Hillside Ave 8:30 a.m. - 9:30 a.m. Members only please.
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Wednesday New Members
3 Orientation Breakfast 4 Welcome to the Chamber. Join us for a new member orientation breakfast. 7:30 a.m. - 9:00 a.m. Chamber Office
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Thursday
Business Education Series
Sponsored by Sector Learning Solutions Inc. Effective Social Media for your Small Business 11:45 a.m. - 1:00 p.m. Chamber Office
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Prodigy Group Beach Volleyball
Friday 5
Stickey Wicket Roof Top 5:00 p.m. - 8:00 p.m. 919 Douglas St.
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Annual Fun Golf Tournament
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Prospect Lake Golf Course 1:00 p.m. - 9:00 p.m. 4633 Prospect Lake Rd.
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Business Mixer
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Hosted by Three Point Motors (Mercedes-Benz Showroom) 5:00 p.m. - 7:00 p.m. 2546 Government St.
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Business Education Series
Sponsored by Sector Learning Solutions Inc. The Authentic Leader… it’s about presence – not position 11:45 a.m. — 1:00 p.m. Chamber Office
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Roy Osing Event
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register a
Business Education Series • June 10 Paul Holmes and Catherine Novak IdeaZone.ca
Effective Social Media for your Small Business You've heard about FaceBook, Twitter and LinkedIn. You are bombarded daily with news stories about how Social Media is changing the way people use the Internet. Your customers are spending more time than ever using these new tools. Are you connecting with them?
Business Matters
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Be DiFFERENT or Be Dead 8:00 a.m. - 10:00 a.m. Executive Eurostar Hotel & Conference Centre 3020 Blanshard St.
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Business Education Series • June 23 Jim Reger
The Reger Group The Authentic Leader… it’s about presence – not position Great leadership cannot be reduced to technique or position or power. To successfully attract, retain and develop a winning team, the leaders of the future must inspire deep trust and commitment.
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CONNECT WITH BUSINESS LEADERS YOU CAN RELATE TO AT THESE UPCOMING EVENTS
David Vinnels Chair In case you haven’t had the opportunity to get to
know Prodigy Group, here’s a quick overview of what we’ve been up to and what is in the works for the near future. The Prodigy Group has provided a forum that engages chamber members that did not previously have the opportunity to network and build business-to-business relationships. We are proud to say that 8 new companies have joined the Chamber as a result of their interactions with Prodigy. We are actively engaged with over 250 chamber members through our programs and are seeing a dozen new faces attending our Mingles each month. We have presented eight speakers on a variety of topics in intimate settings that provided the ability for dialogue and interaction. Through Community Connections we have placed 12 Prodigy members in a range of board and oversight positions with non-profits such as the Queen Alexandra Foundation, the Heart & Stroke Foundation, and the Victoria Foundation. We have established annual events that offer members the opportunity to build their corporate culture through teambuilding and kindling relationships outside of the workspace. The latest of these events was our second annual Amazing Race held last month. Racers made their way through Victoria, stopping for clues and undertaking fun, challenging tasks, like bobbing for apples, and trivia, before finishing up at the Maple Room, with well deserved prizes and mingling. Watch for our Corporate Beach Volleyball at the Sticky Wicket coming up in the summer. May and June bring some exciting times for Prodigy Group members. This spring we are launching our Member Mentorship program, which gives Prodigy members the opportunity to be mentored by chamber members who are seasoned veterans in their field. The program is geared to offer personal development opportunities to both mentees and mentors alike. For more information on the Prodigy Group, visit www. prodigygroup.ca or email me at david_vinnels@shaw.ca
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MONTHLY MINGLES May Date and Time: Thursday, May 14, 5:30 pm - 7:30 pm Location: Canoe BrewPub Marina & Restaurant, 450 Swift St. Price: Free to members and their guests.
Corporate Challenge - Beach Volley Ball June Date and Time: Thursday, June 4, 5-8 pm Location: Sticky Wicket Team Registration: www.prodigygroup.ca Join us on the rooftop of the Sticky Wicket for company bonding and networking in the sand! The courts will be reserved for the Prodigy Group and prizes will be given to every participant. Enter a team or join others in our roundrobin tournament. Be sure to register early – this event sells out every year!
SPECIAL EVENTS 2009 Amazing Race – Island Savings Finishes First Congratulations to Island Savings Race Team who took home first place in the Prodigy Group’s second annual Amazing Race. Thank you to all of the teams and individuals who participated in the race, and to our volunteers for making the event possible. Prodigy Group extends our sincere appreciation to the event sponsors Island Savings and The Strathcona Hotel who generously donated their time and resources to make this such a great experience for our racers.
Business Matters
David Nicholson Chair It has been a busy time for the Greater Victoria
Development Agency over the past few months. With the tremendous support of The Ocean, Jack FM, and the Times Colonist the GVDA launched the “Location Matters” and “Sweet Spot” campaigns which have highlighted 14 of our region’s key economic drivers, and the great stories and activities that continue to happen in the region.
25th of this year Victoria will play host to VIEA’s “Vancouver Island Economic Summit”, attracting over 500 attendees to discuss the state of the island’s economy and opportunities for future growth and prosperity. For more information on how GVDA can help your business call our Economic Development Officer, Sasha Angus at 250-383-7191 ext 204 or email sangus@gvda.ca.
The Agency also hosted a regional economic summit for elected officials, featuring presentations from a number of industry representatives. The summit was attended by eight mayors of the region with a ninth municipality represented by their deputy mayor, as well as the chair of the CRD. The summit provided a detailed snapshot of major industries, their current challenges and primary growth opportunities, followed by a roundtable discussion between elected officials and industry. The summit ended with a strong show of support for the Greater Victoria Development Agency to continue in its leadership role on the regional economy. The Agency will collaborate with the political and industry stakeholders to propose a strategy for capitalizing on economic strengths and opportunities. The group committed to meet again in the near future to discuss the next steps in the proposed strategy. In addition, the GVDA’s Economic Development Officer, Sasha Angus, has been elected as Chair of the Vancouver Island Economic Alliance (VIEA) for the coming year. VIEA is a collaborative partnership that is tasked with spearheading regional economic development for the Vancouver Island region. It provides a means for the multitude of communities, First Nations, businesses, and other key stakeholders to collaborate on a broad-based economic development program that improves the region’s overall capacity for growth. On November 24th and
Business Matters
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Transportation
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It is good that the issue of rapid transit for the Capital ransportation in all its various Region is being looked at again. The goals of the project, forms continues to be a major which include developing transit options that offer an alternative to single occupancy vehicles, making transit issue in the Capital Region. more attractive and easy to use, linking growth regions It has come up a number of and developing an environmentally responsible solution, are all good goals. However, they address only a part of times from candidates and transportation needs – that is the movement of people constituents during the provincial election our within the region. campaign, is the subject of much of the The work being pursued does not consider the movement of federal infrastructure investments, and goods; improving on transportation options for is always a hot topic on the commercial and industrial purposes. Further, The entirety of the scope of the work is movement within the municipal scene. CRD. It does not address the question of how Vancouver Island to get to the Island or to and from the regions So have we gotten any further towards the would benefit around the Island. While the solutions that goal of developing and implementing a from an integrated the Victoria Regional Rapid Transit group will regional transportation strategy? transportation plan, come up with will likely be good solutions, the question they are asking is only half of what Our region, and indeed the entirety of with more efficient needs to be considered for the Island. Vancouver Island, is heavily reliant upon connections to the efficient transportation links to facilitate a prosperous economy and a good quality of Island and between The entirety of Vancouver Island would benefit from an integrated transportation plan, with life for residents. The Island has a robust communities on the more efficient connections to the Island and tourism industry as an economic backbone between communities on the Island. Business Island. with a rapidly growing high tech industry. Each of our major industries relies upon a high level of efficiency and option in transportation connections.
organizations from across the Island cite the need for considerable improvement in the movement of people and goods around the Island.
Currently, the region’s best approach to transportation planning is the process that is being undertaken by BC Transit to improve transit options throughout the Capital Region. This follows on the rejection of the plan presented last year for a rapid bus lane down the centre of Douglas Street. To their benefit, BC Transit is re-looking at the options available. The Ministry of Transportation is conducting a study of the E&N rail corridor to determine if it holds any promise in addressing the transportation needs of the south Island.
Vancouver Island transportation planning is dominated by municipalities who manage the infrastructure within their boundaries. The Regional Districts have varying roles in transportation. An overall plan for the Island would provide valuable input to all levels of government and ensure that when infrastructure spending is considered, strategic projects for the Island are given equal consideration to municipal projects.
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The regional approach is being used in Metro-Vancouver.
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Vancouver Island Translink was given an expanded mandate in 2007. They are now the first North American transportation authority to be responsible for the planning, financing, and managing of all public transit in addition to major regional roads and bridges. The goals of the authority include ensuring most transportation trips in the region are made by transit, walking and cycling, ensuring economic growth and efficient goods movement are facilitated through effective management of the transportation network, working towards the greenhouse gas reduction goals of senior governments, and having stable and sufficient funding to enact their mandate. The region for the authority was expanded to cover most of the Lower Mainland as far east as Hope and north to Pemberton. Why then is a similar model not being considered for
Vancouver Island? The movement of goods and people is just as important to the economy and quality of life on the Island as it is in the Lower Mainland. One argument that has been put forward to counter a regional transportation authority on the Island is that we simply do not have a high enough population. There seems to be a philosophy that places an urban population threshold of 500,000 as the number that would trigger the need for a regional authority. The Chamber believes that waiting until our population reaches that density is a mistake, given our governance model on the south Island in particular. It may work if we had only one municipality that was responsible for
Photo credit: Jack Weeks
transportation planning in the growth of the Capital Region, but that is not the case. Our multiple municipalities certainly bring some challenges to creating a regional plan that work for everyone. In order to fully benefit from the economic opportunities of the future, Vancouver Island needs to coordinate its transportation strategy. The province can take a lead role in creating economic vitality by facilitating a study that would identify the transportation gaps to the Island and amongst Island communities. Some of the strategies to be considered in this study would include: • An integrated Island freight strategy designed to limit the environmental impact of moving freight at the same time as making the system more efficient. • An integrated strategy that would make greater use of rail and container mixed with trucking. • A road transportation strategy setting priorities for major road projects and their economic opportunities. • The development of island airports should be considered as an intra-island transportation option. • The redevelopment of Belleville Street Terminal to improve the international gateway and increase tourism opportunities for the Island. • Intra and inter-regional rapid transit plans to encourage the use of convenient and reliable public transit • Cycling and walking trails that traverse entire regions.
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The Victoria Regional Transit Plan will bring about a rapid transit service that addresses the most pressing vehicular choke points in our region. Those are on the roadways between the West Shore and the core. A second stage of evaluation will determine rapid transit options for moving people up the Saanich Peninsula and from the core to the university. This is a big step forward for transportation planning in our region. However, there are many people for whom public transit will not work. Those who have to make multiple stops for family and work responsibilities are less likely to utilize public transit or bike trails as readily as others. We still need regional roadway improvement. In addition, the increase in Island population means an increase in demand for commercial products and services. We need a plan to facilitate that growth – a more effective and environmentally responsible method of receiving commercial goods. We should explore the option of a commercial port and strategically located rail terminals for the movement of goods. No doubt planning all of that within the context of an organization with a single mandate is more likely to bring about a cohesive and fully integrated plan to improve the movement of people and goods. Now with Translink settled into their mandate, we hope our provincial government will turn its transportation lens to Vancouver Island.
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newmembers 1-800-GOT-JUNK? 1-800-Got-Junk? is a full service Junk-Rubbish removal company. We do all the loading and responsibly dispose of anything non-hazardous that two people can lift. p: (250) 590-4271 e: victoriabc@1800gotjunk.com w: www.1800gotjunk.com
4 On The Floor Carpet Installations p: (250) 858-0874
Aber Group Inc. p: (416) 322-2909 e: seanna@abergroup.com w: www.abergroup.com
Anne’s Nails p: (250) 388-4555 e: hannado@hotmail.com
Apex Tents Apex Tents is Western Canada’s largest supplier of event tents. From small intimate backyard weddings to a 2,000 guest corporate sit down dinner - trust Apex! p: (250) 383-8368 e: info_victoria@apextents.com w: www.apextents.com
Archipelago Media Ltd. Archipelago Media is a custom publishing company specializing in print media services. p: (250) 380-3961 e: garth@archipelagomedia.com w: www.archipelagomedia.com
Beyond Deep Diving Ltd. Beyond Deep believes in teaching to a higher standard which results in safer divers. We’re a full service shop offering courses from kids programs right up to technical diving. Give us a call for a free ‘discover scuba’ session p: (250) 475-2202 e: info@beyonddeepdiving.ca w: www.divinginvictoria.ca
Diamond Communications Ltd. Supply, install, setup and train on business telephone / voice mail equipment. Maintenance & repairs. Toshiba Dealer. Install wiring with data. p: (250) 383-1003 e: info@diamondcommunications.ca w: www.diamondcommunications.ca
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Dr. Geoff Pratt Inc. Dentist Dr. Pratt has a family dental practice in Oak Bay. Great hygiene services and team. Focus is on restorative services: crowns, bridges and implants. New patients welcome. p: (250) 598-2113 e: info@prattdentistry.ca w: www.prattdentistry.ca Fisgard Market Limited p: (250) 383-6969 Frank M. Lee and Co. C. G. A. A full-service accounting & tax practice serving the Gordon Head community for 20 years. Our Mission is to provide superior services tailored to your specific needs. p: (250) 477-1423 e: dustin@frankleecga.com w: www.frankleecga.com Future Solutions p: (250) 380-3044 e: paddyholliday@maximumsuccess.com w: www.freshairliving.com Gone West Capital Corporation GWCC operates three, distinct businesses: Debt Advisory Consulting services to businesses/borrowers; Plush Soft Furnishings - Soft furnishings design/manufacturing; Winning Colours Design - Interior design services p: (250) 412-7966 e: robert.hosie@shaw.ca w: www.plushsoftfurnishings.com Hawthorne Enterprises Inc. Committed to helping organizations maximize user productivity and efficiency through Microsoft® Office Suite Training. Receive customized, one-on-one training sessions at your place of business. p: (250) 477-1601 e: wendy@hawthorntraining.com
Health Point Consulting Inc. The Health Point Clinic provides an environment of caring, trust and mutual respect where people can find relief from emotional distress or pain. p: (250) 590-3713 e: contact@healthpointconsulting.com w: www.healthpointconsulting.com Ikon Office Solutions - a Ricoh Company Supplying and servicing copiers, printers, scanners, fax, combined with a team of document solution experts brings every business a consultative approach to streamlining image production. p: (250) 413-3350 e: jsdhillon@ikon.com w: www.ikon.ca
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www.victoriachamber.ca Kings Granite Works Inc. p: (250) 380-0610 e: info@kingsgranite.ca w: www.kingsgranite.ca Mark Walker Consulting p: (250) 884-4372 e: mark.walker.is@gmail.com Mojo Media p: (250) 475-6656 e: info@mojomedia.ca w: www.mojomedia.ca OEVEO Corporation oEVEo Corporation THINKS WAY OUT OF THE BOX. Offering you innovative solutions and programs to make sure your customers have a truly memorable “Visitor” Experience. e: enhance@oeveo.com w: www.oeveo.com Pacific Sky Aviation Inc. Pacific Sky Aviation is Victoria’s premiere provider of professional flight training, and executive aircraft charter throughout Canada and the USA. Go places with us! p: (250) 656-4312 e: reservations@pacificsky.ca PacMARA Pacific Marine Analysis & Research Association PacMARA takes a non-advocacy approach, believing that access to data and good science are at the heart of sustainable oceans management. p: (250) 382-8460 e: info@pacmara.org w: www.pacmara.org Pantry Family Restaurant p: (250) 475-3306 e: victoriapantry@shaw.ca w: www.thepantry.ca Pizzeria Prima Strada Paying homage to our Italian roots with a commitment to simple and fresh ingredients - delicious Neopolitian style wood-fired pizza, antipasti, seasonal salads and gelato. p: (250) 590-8595 e: info@primastrada.com w: www.pizzeriaprimastrada.com Ross, Johnson & Associates Barristers & Solicitors Ross, Johnson & Associates provides a full range of legal services to individuals and organizations involving commercial law (incorporation, financing, estate planning etc.) p: (250) 381-7677 e: kjohnson@rjalawyers.com w: www.kimejohnson.com
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Serious Coffee We have 3 fireplaces to cozy up to while you enjoy your freshlyprepared beverage. p: (250) 380-0272 e: seriouscoffeeonbroad@shaw.ca w: www.seriouscoffee.com Shining Valley Lodge & Retreat World class resort retreat for corporate/non-profit/tourism groups on beautiful Vancouver Island, opening Spring 2010. Spirituallyuplifting authentic First Nations theme. Leeds certified. p: (250) 595-8689 e: info@shiningvalleylodge.com w: www.shiningvalleylodge.com Sterling Financial Offers financial assistance when people don’t have time or ability to do so. They teach how to simplify and assist coordinating bills to estate and income taxes. p: (250) 857-1857 e: help@sterlingfinancial.ca w: www.sterlingfinancial.ca Terrabytes Consulting Terrabytes is a leading green IT consultancy in the Pacific Northwest. Terrabytes helps organizations to measure and manage the footprint of their IT operations. p: (250) 652-2525 e: britt@terrabytesconsulting.com w: www.terrabytesconsulting.com U-Brew and U-Vin p: (250) 920-0313 e: gurmit.sandhu@shaw.ca Victoria Bullion Exchange The VBE is both a buyer and seller of investment grade bullion; gold and silver. When it comes to your financial security, your only insurance is bullion. Hedge against Inflation and protect your capital now. p: toll free (888) 300-8809 e: info@victoriabullionexchange.com Victoria Read Society p:(250) 388-7225 e: info@readsociety.bc.ca w: www.readsociety.bc.ca Weight Watchers A weight-loss plan that works as hard as you do. Bring the meeting to your workplace for customized support, convenience, motivation, and a healthier environment. p: (778) 239-5383 w: www.weightwatchers.ca West Coast Tap House p: (250) 474-4490 e: reservations@westcoasttaphouse.com w: www.westcoasttaphouse.com
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membernews cont’d be an opportunity to try out a climbing wall, and store products and win great prizes. There will be plenty of instore promotions.
Don Stein, CEO of Nautisol, has proposed a high-speed harbour to harbour ferry service between Victoria and Vancouver. Nautisol is conducting an on-line survey to determine if people will utilize the proposed service and how frequently they would do so. The proposed service is structured as a one-way fare of $50, with business class at $85. The survey is open until the second week of May and can be found at www.nautisol.com The Province of British Columbia has invested $1 million in Junior Achievement of British Columbia (JABC) to expand entrepreneurship and business skills training in schools throughout B.C. The funding announcement was made recently by Ida Chong, Minister of Small Business, Technology and Economic Development
difficult economic times. The Resume Hut is now poised to expand its service offerings across a wide but strategically targeted geographic area starting in Vancouver and Los Angeles. The Vancouver office opened on February 23rd with Los Angeles locations to follow in the summer. President Neil Pritchard says the business has an amazing track record of success with its signature service of serving individuals wishing to find new employment, or to upgrade to a better job through personalized and focused consultative processes. As well as its core signature service, the Resume Hut also offers service to employees with employment problems and HR and business consulting services for employers. Robinson’s Outdoor Store is holding an 80th Anniversary Block Party on Saturday June 20th on Broad Street between Johnson and Yates. There will
The Victoria Airport Authority has partnered with the provincial and federal governments to invest $24 million to construct an interchange at McTavish Road and Highway 17 near the Victoria Airport. The provincial and federal governments are each contributing $10.5 million and the Victoria Airport Authority is contributing the remaining $3 million. This project will improve road safety and transportation efficiency for motorists travelling along Highway 17. Construction is slated to begin in November 2009 and finish in March 2011. VIATeC is now on Twitter and LinkedIN. Twitter is a social networking service that enables users to send and read other users’ updates, with short posts of just 140 characters or fewer. LinkedIN is a business oriented social networking site used for professional networking. VIATeC’s Twitter and LinkedIN pages feature latest news items from VIATeC, as well as other important updates. It also offers a comfortable platform to initiate suggestions and comments from members. To follow VIATeC on Twitter, go to http://twitter.com/VIATeC. You can
Junior Achievement (JA) is the world’s largest not-for-profit organization dedicated to educating young people about business, with over 120 charters worldwide. It currently delivers business education programs to about 30,000 students in 45 of B.C.’s 60 school districts. The not-for-profit organization received $2 million from the Province in 2006 and intends to use this additional funding to further expand the program’s reach into rural and urban areas. JABC aims to ensure its programs are accessible in all B.C. school districts by 2010. The Resume Hut is celebrating its 23-year anniversary with a sense of optimism unheard of during these
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join VIATeC group on LinkedIN at http://www.linkedin.com/ groups?gid=1820451. Aviawest Resorts has recently signed rental agreements with selected owners of the former Tauca Lea Resort in Ucluelet, BC on the western coast of Vancouver Island. The contract adds 60 vacation homes to their rental pool under the new name. Each condominium at Water’s Edge is individually owned and now Aviawest is able to offer condo owners the ability to trade their unit at Water’s Edge to over 4000 vacation homes globally through Aviawest’s affiliation with Resort Condominiums International Brands. Neverblue has expanded internationally into Western Europe with a special focus on Germany, France and the United Kingdom. Neverblue is now driving in excess of 1 million leads per month to
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advertisers with global consumers. Neverblue has seen impressive international results to support the investment, with more than 40% of all sales conversions occurring internationally. Neverblue will have a strong presence at various affiliate and digital marketing events across Europe throughout 2009, including an exhibit at ad: tech London in September. Ten business and community leaders will join the Royal Roads Fellows Council. They, along with 20 other prominent individuals, advise RRU on relevant issues affecting leaders today and into the future. Royal Road President, Dr. Allan Cahoon says the new appointees are “models of leadership and entrepreneurship and exemplify community and corporate responsibility.” The new Fellows are the Hon. Jack Austin PC, QC, Senior Advisor International: Stern Partners Inc; Peter Baillie, Vice President Advertising Sales and Marketing: Times Colonist; Rear-Admiral A. Bruce Donaldson
CD, Director of Staff, Strategic Joint Staff Branch Adviser; David Emerson PC, Executive Chair and CEO, BC Transmission Corp. and Senior Advisor, Farris, Vaughan, Wills & Murphy LLP; Jock Finlayson, Executive Vice President, Business Council of British Columbia; Ida Goodreau, CEO, LifeLabs; Lynne Henderson; Mark Horne QC, Barrister & Solicitor, Horne Coupar; Victoria Kuhl, Principal, The Kuhl Consulting Group; Brian Smith QC, Counsel and Corporate Director, Gowlings LLP. The Pacific Centre for Sport Excellence is expanding again, thanks to a new provincial government grant. Advanced Education Minister Murray Coell announced new funding of $1.4 million for the centre at Camosun College. It will allow for creation of a degree program in sport and fitness leadership, and a diploma program in sport performance.
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policy moves Small Victories on Property Tax The City of Victoria is beginning the move to decrease the business to residential property tax ratio to 3:1. In the coming year, the business rate will move from 3.67 to 3.66. In addition, the light industrial rate will be changed to equal the business rate. That means that light industry will also pay the 3.66:1 ratio in the tax year for 2009. In 2008, the industrial ratio was 4.74:1. The change in rate, applied against 2008 figures, will save the light industry class businesses $120,000. GVCC Taking Five Policies Provincial The Greater Victoria Chamber of Commerce will be attending the BC Chamber Annual General Meeting in May. Policy resolutions from across the province will be debated at the AGM. The GVCC will be bringing forward five policy resolutions.
Interested in Amalgamation? The Chamber is hosting a morning discussion on amalgamation. Pros/cons, what we know and where this issue is on the local landscape. Wednesday, June 17: 8:00 – 9:00 AM, Chamber office, #100-852 Fort Street Register on-line at www.victoriachamber.ca
Interested in Federal and Provincial Procurement Procedures? The Chamber is forming a working group to gather recommendations on how federal and provincial procurement procedures can be improved. If you are interested in joining the group, please email Shannon Renault at srenault@gvcc.org.
• Increased Sentences for Prolific Offenders – this policy calls for a change in the criminal code to encourage giving repeat/prolific offenders to escalating sentences for criminal convictions. • Increased Rental Housing Through Fair Tax Treatment – this policy calls for adjustments to the Canada Tax Act that would make investment in rental residential development and business management a more attractive building and business opportunity. Currently tax policies disadvantage investment in rental property development and management as compared to other business types. (This is a federal issue, but having it supported at the BC Chamber means the provincial body will join in the advocacy effort to the federal government) • Island Transportation Strategy – this policy calls for the provincial government to conduct a thorough gap and opportunity analysis of transportation infrastructure on Vancouver. • Municipal Amalgamation in Urban Municipalities – this policy calls for an amendment to the Community Charter to allow the provincial government the ability to call for municipal amalgamations if they believe it in the best interest of a region. Currently amalgamation has to be initiated through a supporting plebiscite called by municipal governments or the province may require municipalities to call for the plebiscite question. However, the province currently cannot order amalgamation. • Access to Capital for Small Business – This policy calls for the provincial government to introduce a short term program to improve access to capital for small business.
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Business Matters
ask an expert Does anyone really know for sure when to hold and when to fold an investment portfolio?
Give a Boost to Your Small Business
>> Candice McGrath Investors Group
>> Corrine Thompson Sales Manager, Small Business, South Vancouver Island, RBC
The concept of “buy low and sell high” actually makes a lot of sense. The problem is the uncertainty of where the market lows and highs are. This results in a tendency to jump on the bandwagon too late. At the other end of the spectrum, you never know where the market high is until well after it has occurred. The direction of the market has been known to change quickly and quite dramatically. As a result, irrational decisions can mean a considerable sacrifice of overall return. Why worry about which investment will prevail when it is easier to diversify within a number of investments. It may not be as lucrative as picking the top performer each year, but a properly constructed portfolio will reduce exposure to risk, offer a more reliable rate of return, and above all, is a reasonable investment strategy. Pricing stocks or bonds involves many fundamental variables. Identifying “overvalued” versus “undervalued” assets is complicated. It becomes even more complicated when the market direction is fueled by: fear, greed, optimism, pessimism, and crowd psychology. Throw in political climate, economics, revolution, natural disaster and technology change and you see why diversification is an important factor in investment success over the long term.
Small business owners often start up businesses based on a deep personal passion. They bring their own special talents to the products and services they offer to consumers – talents that are more enjoyable and often far removed from the many “paperwork” details that often take up so much of a working day. “Small business owners can fill in the gaps between what they like to do and what they have to do, by having better and easy access to relevant resources,” says Corrine Thompson, Regional Manager, Small Business, RBC Royal Bank. “That’s where the expertise of organizations such as banks comes into play”. Thompson adds that in addition to providing tailored products and advice to clients, they also provide online resources to all small businesses. This website, www.rbc.com/tips, provides advice on key aspects of starting up and growing a business, including: • • • • •
Matching Financing solutions to your needs Keeping your cash flowing Building a better business Making sense of taxes Opening a business deposits account
It has become accepted wisdom in financial circles that it is impossible to predict the variables which affect markets. Many who claim they can beat the markets usually make one or two great predictions before becoming hopelessly out-matched. The best advice is to construct a portfolio you are comfortable with and stick with it unless your investment objectives change.
New tips are added throughout the year, to create a comprehensive advice archive for Canadian small business owners. People who visit the site also have the opportunity to submit tips of their own – the website is an interactive meeting place, where small business owners and aspiring entrepreneurs can share and learn from the real life experiences of others.
Candice is a financial consultant with Investors Group and uses her knowledge to help clients with their financial plans in investment and sound tax planning.
For more information, please call 1-800-ROYAL-20 (769-2520) and to find valuable Small Business tips and resources online, please visit www.rbc.com/tips
Ride and Save! Daily Service to and from Victoria.
Akal Airporter Shuttle Bus Fares: $18.00 ea (downtown) $25.00 ea (out of downtown)
Airport to Victoria hotels, motels, B & B’s, senior group homes, UVic & Reservations and office hours: 4am - 10pm CFB Esquimalt For more information call: (250) 386-2525
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