Issuu

of the CENTRAL OKANAGAN

Optimistic outlook for small business

Larry Wilkins, Antler Creek OutďŹ tters, West Kelowna, see story page 4

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Tuesday, October 16, 2012 Business Leaders

Award Winning Team JOHN KOT

GUY LEMIEUX

| Dealer Principal

Born and raised in Weyburn, Saskatchewan. John started selling cars at 18 years old. He has held several senior management automotive positions over the past 15 years in Edmonton and most recently aquired Kelowna Hyundai in November 2011.

TANNER CAOUETTE | General Sales Manager

PERRY PANADOGONAS | Sales Manager Hailing from Edmonton, he has been in the automotive industry for the last 17 years, moving to Kelowna 2 years ago.

DOUG CUNNINGHAM

RIC BIDOKA | Sales & Leasing Consultant

KEVIN PYLYPOW | Sales & Leasing Consultant

KACY MILLER | Sales & Leasing Consultant

Born and raised in Edmonton, Kevin played junior hockey for many teams, as well as working in the wine and restaurant industries. Has been with Kelowna Hyundai for 8 years. Kevin has been Salesman of the Year for the past 3 years.

From Lake Cowichan, Vancouver Island, Kacy has a major in both English and also Hospitality Management and was previously at Boomers, where she was recruited. Has been at Kelowna Hyundai 7 months with great success.

DAMIAN DE CIANTIS

BRANDON KOT

| Sales & Leasing Consultant

Hailing from Nanaimo, Doug has spent the last 30 years in the industry, and their family owned a Hyundai dealership before selling to the Pattison Group.

Ric had over 13 years in sales working for Saturn. A lover of the outdoors, he joined Kelowna Hyundai in 2010.

Damian was born in Toronto but moved to the Okanagan in 1999. He was previously a bartender at Cabana Bar and Grill, where he was recruited by John Kot. Has been at the dealership for a year with great success.

Born in Saskatchewan, Brandon graduated from Immaculata in Kelowna. Brandon traded his hockey ambition to join the team at Kelowna Hyundai and is a top performer.

KEITH RICHARDS

KIA LIPKOVITS

LEAH BABINGTON

TANYA LE BARRON

| Sales & Leasing Consultant

| Financial Service Manager

| Finance Director

Born and raised in Toronto. Keith was a service advisor at Harmony Honda before moving to Kelowna Hyundai. He made the transition to sales in March 2012.

Originally from Holland, Lia has been in the automotive industry for 34 years, and in Kelowna for the last 21 years. She has just joined the dealership.

Raised in Penticton. Leah was previously a professional skater for Disney on Ice. She recently joined Kelowna Hyundai as Financial Service Manager.

Tanya was born and raised in the Comox Valley, Vancouver Island. She has spent the last 8 years, 4 in sales and 4 as Finance Director.

ROB THOMAS “TURBO”

DEBBIE KORBYCK

KATIE CANDIDA

DAVE DORS

| Inventory Manager

| Service Advisor

From Victoria, Vancouver Island, Rob has had a number of jobs within the automotive industry in both sales and as an inventory manager. Has been with Kelowna Hyundai for 5 years.

Originally from Thunder Bay, Ontario, Debbie has worked for Hyundai since 1983.

From Vancouver, BC but moved to Kelowna in 1992. She started at Kelowna Hyundai just a month ago. Had previous work in warehousing in Fort McMurray.

Born and raised in Woodstock, Ontario, Dave has bodywork experience in the automotive industry, including 9 years with Harmony Honda.

MIKE NORLIN

BRENT GRAINGER

ROBIN GILLBERG

CHRIS D’AOUST

| Parts Manager

| Assistant Parts Manager

| Technician Foreman

| Technician

From Armstrong, B.C. Mike has 27 years experience in the parts industry, moving to Kelowna Hyundai 3 years ago.

Has been with the dealership for one and a half years, but has over 35 years experience with parts. Originally from Calgary, Alberta.

Was at OUC to get his trades, and then has had a variety of dealership experience before starting with the dealership some two and a half years ago. Originally from Vancouver. Has over 22 years of technical experience.

From Edmonton originally, he moved to Kelowna 12 years ago. Chris has been past president with the Kinsmen as well as 12 years experience as a technician. He has been with the company for 1 year.

DARIN MOORE

STEVEN GLADU

JORDAN CHEN

KYLE SELLERS

| Technician

Now at Kelowna Hyundai for a year and a half, Darin was born and raised in Penticton. He has over 25 years of technical experience.

Originally from Fort McMurray, and then moved to Kelowna where he attended Okanagan College. Has been at Hyundai for 3 years, though has been a technician for 7 years.

Graduated from Vancouver Community College, and has now been at Kelowna Hyundai for 6 years.

CURTIS WASYLENKO

JILL FYLYSHTAN

SANDRA SCEPANOBIC

DARREN STOCKHAUSEN

| Accounting

| Technician

| Administration Assistant

Another locally born and raised fellow, Kyle graduated from Rutland Senior and has been with the company for one and a half years.

Kelowna born and bred and graduated from Okanagan College. Has been at the dealership for 2 years.

Born in Vernon and raised in the Okanagan, Jill graduated from RSS and studied Administaration at OUC.

Originally from Vancouver, she graduated from the University of Toronto. She has only been at the dealership for 2 months.

Born in Kingston Jamaica, but raised in Manitoba before moving to B.C. Darren has been working for the dealership for over 3 years.

DAWN LOOP

KYLE PAVEY

NIKI MUMANT

BRENT PETERSEN

| Detailer

| Detail Manager Born and raised in Kelowna, Dawn has previous experience at Kelowna Flightcraft, but has been detailing for the last 8 years.

| Detailer

Has been at Kelowna Hyundai for only 3 months, Kyle is locally raised. He also drives a zamboni at Puckmasters on the Westside.

KELOWNA DL#30922 DL30922

Guy was born and raised in Montreal. He specializes in fixed operations and used vehicles. Guy worked for Ford and GO Auto for 20 years in Edmonton. He joined forces with John Kot in November 2011 at Kelowna Hyundai.

An Edmonton boy born and raised, Tanner has spent the last 10 years in the automotive industry, where he met John Kot. Joined Kelowna Hyundai in July 2012.

| Sales & Leasing Consultant

| Managing Partner

Another local Kelowna girl and also from RSS, Niki has been at the company for 1 year.

| Parts and Service Driver A local Kelowna graduate from Secondary and Kelowna Hyundai

CALL US TODAY AT 250-491-9467 3260 Highway 97 N. Kelowna kelownahyundai.com

lad, Brent is a Rutland Senior has been with for 5 years.

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Business Leaders Tuesday, October 16, 2012

Optimistic outlook prevalent in business community Barry Gerding EDITOR

The Central Okanagan is a mecca for small business entrepreneurs. Whether starting out as a service provider, a retail store operator, or generating new entrepreneurial ideas, surveys consistently point to the Okanagan region as a great place to start a business. Why? Robert Fine, executive director of the Central Okanagan Economic Development Commission, says there are several reasons. Most notable is the lifestyle and climate in our region, he says, but equally important is the relatively low unemployment rate which reflects a healthy work base that has money to spend, and the infrastructure additions that government funding has provided in recent years. “Enrolment at both the university and college is at an alltime high, there has been a major expansion in health care services and the airport continues to set new records for the number of passengers,” Fine said. “That by itself creates a lot of niche opportunities for businesses to be developed to serve those markets.” As well, Fine notes that the population continues to attract

Robert Fine more people to the region. “That is a huge asset, that people want to live here, but we have to also remember there are a lot of nice places to live in the world, there is a lot of competition out there, so we have to keep getting the word out about what we have to offer.” Fine recalls a recent conversation with an engineer from Alberta who has created a startup business in Kelowna. “What he said to me was, ‘Why isn’t everybody coming here? The weather is great and I love living here. It’s a welcoming place and there is lots to do.’ Attracting people like that is what creates a strong business sector.” But for all the positives, Fine acknowledges that lo-

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brighter economic future. Business owners seem to be feeling more positive I think. “Call it a cautious optimism but people are starting to feel better about things.” Another aspect of Central Okanagan business growth is reflected in the numbers. Provincial numbers indicate about 16,000 businesses operate in the Central Okanagan, with about 57 per cent of those are an owner-proprietor. Fine said what that reflects on the downside is if you move to the Okanagan looking for a job, your choices are limited because what we don’t have is the larger companies and head offices here. “So the challenge is to help those companies to grow here so that instead of being owner operator or having two or three employees, they have 10 people working.” While there is help for the small business community, both through direct grants or information sources provided by various government programs, Fine said getting that information into the radar of people who need it often gets lost in the translation. “Some of the feedback we get back is small business owners don’t have the time to keep current on what programs are available at a given moment

that may help them. They are too busy just trying to run their business day in and day out,” Fine said. “It’s an ongoing challenge to get the message out there.” Fine said the chamber of commerce helps in that regard, as does the Uptown Rutland Business Association and Downtown Kelowna Association. Fine says social media can also help, as does a new initiative at area municipal halls where business license applicants receive information packages on programs and services that can potentially assist them. “The first point of contact often for new business owners is the business license or planning department,” he said. As a comparison, Fine said a recent conference he attended in Houston, Tex., revealed the difference in optimism between American and Canadian business owners. “I think the level of optimism, or lack there of, is very different in the U.S. Small businesses are not comfortable where things are at and remain unsure where the government is going,” he said. “It’s an election cycle this year, which means trying to figure out who is saying what and do they really mean it. I think the U.S. economy has been the primary

economic engine in the world and that is not the case anymore, and the trickle down effect from that is people begin to feel less secure.” Fine believes despite complaints about excessive bureaucratic red tape and taxation policies, the reality is government, in particular at the civic level, is making strides to be more responsive to the needs of their business communities. He adds that the upcoming economic summit will see successive business entrepreneurs such as Lane Merrifield, one of the founder of Club Penguin, and Al Hildebrandt, successful in the high-tech software field, among the guest speakers, along with both Debra Buszard, vice-chancellor of UBC Okanagan, and Okanagan College School of Business instructor Heather Schneider. “We are really trying to focus on small business and provide networking and information opportunities to grow and expand their businesses,” he said. Fine added that the Business Walks survey results is a program worthy of continuing. “I think business owners were impressed to see council members or the mayor of their communities step into their establishments to see what they’re doing, and to listen.”

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cal small business owner face challenges, from a feeling of being over-taxed and buried in red tape bureaucracy, to the economic turbulence of the last three years. Fine was among the participants in the Business Walks survey carried out in Peachland, West Kelowna, Kelowna and Lake Country earlier this month. The results from that survey and will be released at the inaugural Central Okanagan Economic Summit taking place later this month at the Bottega Farm Inn, 4485 Sallows Rd. in Kelowna. “I did my walk in West Kelowna, and the general sense I came out of that with is people are starting to feel a little more positive about their business, about how things are going,” Fine said. “I think people are tired of hearing the negative economic news all the time, and want to get on with things. I think companies that survived and thrived through the recent challenging economic times are still with us and in better shape than before the recession hit because they had to be. “You are starting to see signs of stores ordering higher levels of inventory, becoming more active and involved in what they see are signs of a

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THE

Next 2013 - 2017

Tuesday, October 16, 2012 Business Leaders

LARRY Wilkins

Years

DOUG FARROW CONTRIBUTOR

The 2012 Board of Directors are: Dan Van Norman President Crystal Maltesen 1st Vice-President Susan Rayner 2nd Vice-President Alan Kirschner Treasurer

has opened his own new business, Antler Creek Outfitters in West Kelowna, a reflection of his interest in the outdoors.

Nicholas Aubin Past-President Vik Bains Director Len Cardiﬀ Director Joe Iafrancesco Director Kevin MacDougall Director

working 2013 - 2017

FOR THE

Aron Meier Director Frank Pohland Director Gerry Zimmermann Ex-Officio Colin Basran Ex-Officio Alternate

future

Investment, Revitalization and Community Development • Work in partnership with community associations to revitalize the Rutland Centennial Park and Hall. • Explore funding opportunities and educate property owners on the benefits of Façade Improvement programs, building renovations and redevelopment. • Establish a pedestrian-biking route by extending the Houghton Road corridor through the BIA. • Work with the City of Kelowna and Ministry of Transport on Highway 33 improvements. Cleanliness & Security • Continue to monitor issues related to the Rutland town centre and surrounding neighborhood including planning, social/street issues, economic changes, parking, transportation and development. • Work with URBA members, public media, RCMP and City of Kelowna to implement programs and initiatives that promote safe neighborhoods. • Develop a town centre security, cleaning and education program to assist our members with safety concerns, clean streets and public spaces and good neighbor practices. Marketing • Establish programs that will market Uptown Rutland merchants to UBCO Students and Faculty. • Install Gateway Signage to draw residents and visitors to the Rutland Town Centre. • Develop interactive 3D mapping that will show the URBA vision for the Rutland Town Centre. • Develop a Business and Retail Recruitment and Retention Strategy that will attract new retailers and position Uptown Rutland as an attractive opportunity for investment Information & Engagement • Develop and implement a marketing program for members to gain maximum exposure for them and promote the Rutland neighbourhood as a whole. • With input from our members develop programs that support businesses in our town centre with facade improvements, streetscape, technical expertise, marketing and forecasting. • Continue the support of programs, such as the Uptown After Hours, that showcase the successes of established Uptown Rutland businesses and introduces new businesses. • Continue to conduct regular evaluations of all programs, promotions, events and initiatives to ensure effectiveness, financial responsibility and value to our members. Promotions and Events • Continue to expand the URBA established events to engage the business community and highlight the Rutland Town Centre’s best attributes: shopping, dining and services. • Continue to explore grant opportunities and potential sponsors to leverage BIA funding and sustain events and promotions. • Partner with other associations to co-promote events and showcase the Rutland Town Centre in other areas of Kelowna.

Making the leap to become your own business boss Barry Gerding EDITOR

Larry Wilkins did an assessment of his life and realized something was missing. He felt unfulfilled with his career as an avionics technician. He wanted the challenge of doing something that he actually enjoyed doing, where it might not actually feel like work, just making money for someone else. “I just came to a point where I was unhappy with my working life and I thought I’d better make a change before it’s too late. It’s something I’ve been thinking about for the last eight to 10 years. I got the bug this spring and made that leap of faith two months ago,” Wilkins recalls. That leap of faith was to start his own business, do be his own boss and spend his working time doing something he has been passionate about throughout his life, the outdoors. Wilkins has opened Antler Creek Outfitters in West Kelowna, 1767 Ross Road, a business that deals with firearms and outdoor recreation related supplies and products. “I have up to 16-hour days in some weeks but it doesn’t feel like work because I love what I’m doing,” said Wilkins of his initial foray in the business world. “I just feel a lot healthier and happier, I’ve lost 20 pounds this year. And when a big order comes in it’s like Christmas,” he laughed. “There is a lot of learning that goes on with starting a business but I’m trying to learn as ago along. My wife has a full-time job but she helps me with the books and I have one other staff person at this point. “We don’t want to get ahead of ourselves. We want to see the store evolves, and let the community decide how things will go. I want to be careful at the start not to over-extend myself financially, make sure I’m able to pay the bills.” Wilkins started his career as an avionics technician because he had an interest in air-

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planes, acquiring his certification that led him to a job working on water bombers in northern Saskatchewan for 10 years, before moving to Kelowna to work for Alpine. He said a shopping trip earlier this year to Grouse River Outfitters got him thinking about a business model for his own outdoors shop. His sister-in-law, who runs a clothing store in Golden, and a commercial realtor friend in Kelowna were both sources to draw on for how to proceed. “I would say I learned most about it from the Internet,” he said. Wilkins first went moose hunting with his dad at age 10 and shot his first moose at age 14. Fishing and hunting have been a part of his life ever since. Although he has been active with the Peachland Sportsmen’s Association and Summerland Sportsmen Association in the past, Wilkins said his interest in hunting had waned somewhat since coming to Kelowna. “Prior to this year, the last time I went hunting was 14 years ago in northern Saskatchewan. When I moved here I didn’t seem to have time for it and I let some of my certification lapse.” So one of his first steps before starting up his business was to update the various certifications required to use and sell firearms and for hunting. He also began to realize the amount of red tape and hoops he had to jump through for the small business start-up process. “Starting a business is challenging and exciting, but it’s also aggravating at times because of the red tape involved, but you just have to jump through those hoops.” While not oblivious to the risk of business failure, Wilkins feels he’s done his financial planning homework to the extent you can to prepare for his new business venture. . “There is both an excitement and fear to it. But you don’t want to go through life and think back wishing you had done it,” he surmised.

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Tuesday, October 16, 2012 Business Leaders

Business associations feel all aspects of economy Barry Gerding EDITOR

Peggy Athans and Deborah Guthrie know better than most what is happening at the grassroots level of a significant part of Kelowna’s small business community. In their jobs as executive director of the Downtown Kelowna Association and Uptown Rutland Business Association respectively, both women hear their fair share of what is good and bad in any given economic cycle from their constituents— small business owners. Athans feels a mood of optimism is beginning to take hold in the downtown core, a feeling that she says reflects seeing the backside of a recession and a hopeful sense that things are moving in the right direction. “There is a renewed optimism because of the revitalization things that people are seeing happen in the downtown,”

Athans said. She points to the Bernard Avenue upgrade, a proposal for Interior Health to locate about 1,000 workers under one roof downtown, the new public marina project and signs of movement on the high-rise development proposed by the Aquilini Investment Group between Ellis and St. Paul. “I think relative to two years ago, things have changed. If you remember back, at that time, the CD-21 proposal for downtown development had just failed and there was nothing imminent on the horizon,” she recalled. Athans said the mantra for small business owners in the downtown core is likely the same as all across the region—the businesses are largely owned and operated by the same person, without a lot of support staff. It’s a huge commitment of time working five to seven days

‘‘

…SMALL BUSINESS OWNERS LIVE AND BREATHE WHAT THEY DO, SO IT IS NICE TO HEAR A FEELING OF PEOPLE BEING MORE POSITIVE FROM WHERE WE WERE AT TWO YEARS AGO. Peggy Athans, executive director of the DKA

a week, with 12-hour days being the norm rather than the exception, she says. “It’s hard for business owners because they are dealing with business customers during the business day, so the administrative work, dealing with marketing or promotion

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needs is left to after-hours.” Athans said the role of the DKA is to help on the marketing side, whether to provide useful information to business owners or to organize events such as the recent Taste of Downtown, which recorded about 1,000 participants. Athans was also a participant in the recent Business Walks survey, saying a theme of optimism was evident as were several frustrations from business owners, such as the ongoing truck traffic along Ellis Street and the difficulty of finding and keeping good staff. “Having caring employees go the extra mile and provide customer service is important to small business owners when you consider that the average age of customers in Kelowna is 59. Customer service is always important,” Athans said. “But small business owners live and breathe what they do, so it is nice to hear a feeling of people being more positive from where we were at two years ago.” Guthrie said for small businesses in Rutland, slow but steady seems to be the general attitude, some doing better than anticipated and others really struggling to get by. “Some are laying off employees, others are just trying to tighten their belts and work less hours, but some businesses are doing well and seeing an increase in business,” Guthrie said. “We’d like to wave the banner and say business is great, but we’re not getting that. Things are still very slow overall at this end of town. “ Guthrie, who also participated in the Business Walks initiative, said the remnants of the economic downturn two years ago is still being felt in the Rutland small business sector. Guthrie said she read a recent article that talked about

how middle businesses in Canada continue to struggle, how during this past recession the ‘mom and pop’ businesses have been able to ride out the recessionary wave and larger businesses have had the ability to absorb the tougher times. “What that article said was the middle guys aren’t prospering, the businesses with 10 to 20 employees are disappearing,” she said. She also cited the challenge of educating small business owners to government programs that can provide them assistance, from direct grants to resource information.

‘‘ SOME ARE LAYING OFF EMPLOYEES, OTHERS ARE JUST TRYING TO TIGHTEN THEIR BELTS AND WORK LESS HOURS, BUT SOME BUSINESSES ARE DOING WELL AND SEEING AN INCREASE IN BUSINESS. Deborah Guthrie, executive director of URBA She said marketing is one area where many new small business owners struggle out of the gate, contributing to the high rate of start-up business failure. “A lot of people go into business with what they think is great idea and get financing for the idea or use their own resources to open their business, but they don’t have the skills or recognize the importance of marketing or having a well

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thought out business plan,” said Guthrie, noting that a good idea is not an instant path to instant business success. “Word of mouth is not a plan. You are not going very far if that is what you relying on.” She cited the example of Mosaic Books opening a new store in Rutland, in the wake of becoming being a fixture for many years with their store in the downtown core. “They have a brand in the community but they also appear to have done their homework and understand the audience they are trying to reach here,” Guthrie said. “There are a lot of pensioners and people on limited incomes in our area of town, so they are not likely to spend $25 on a new book, but you also notice their new store has a major bargain book section. They are in the business of selling books but they are likely to spend money on a book that is $5 or $8 as opposed to $25. “Since it opened, I see a lot of people in their store and it looks very busy. I think that is about kno wing their area.” Guthrie says doing your homework is important before any new small business opens its doors. “If it does end up a failure, at least you know you did everything you could have done to try and prevent that. Sometimes businesses are up against things that can’t be anticipated, such as restaurants with the HST and changes to minimum wage, but the ones who do homework and get established tend to be ones that weather the storms.” Guthrie said a hallmark of Rutland businesses in the pride they have in themselves and their regular customers. “That speaks a lot about our community. Business owners are in for the long haul and are just trying to make it work.”

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Business Leaders Tuesday, October 16, 2012

Home inspector wants to put buyer’s apprehension at ease Barry Gerding EDITOR

Jeanine Reiss, is the Okanagan’s only female licenced home inspector. No stranger to the real estate business in general, buying homes in need of renovation and then selling them, Reiss has taken on a new career path. She has turned her passion for homes and a keen interest in helping people find out what they need to know about a property so they can make informed decisions about buying, selling or maintaining their real estate investment into her own business opportunity. “I think I have found my niche in the home inspection trade because I want to keep learning, I am helping my clients and I just love houses,” she said. “I would do this for free, but I have to eat.” Reiss, 49, was born in Holland and was raised in various countries. Upon graduating from college, she visited Vancouver in 1986 and stayed. Young and single, she then moved to Whistler to find work. “I have been lucky to have had a few interesting day jobs over the years, but it was what I initially did in my spare time that eventually led me to become a home inspector, she recalls.

During the late ‘80s, it was near impossible to find affordable rentals in Whistler. Fleiss was eager to stay in the community, but the only way to do that was to buy a house for $38,000 to provide herself with a roof over her head. “This tiny and neglected home was in dire need of TLC and since there were few trades in Whistler at the time, I learned to do things myself and came to realize I liked it,” she recollected. “And so it began. My passion for everything house and home was ignited. I started buying, renovating, then renting out or re-selling properties.” Her passion became her full-time job. At one point Fleiss had nearly 40 rentals and accumulated an array of power tools she said most guys would drool over, to work on home renovation projects. “Construction work is not gentle on the body and as I became better (read older) aches and pains started to rear their ugly heads on a regular and prolonged basis. Twenty years after I swung my first (real) hammer, I came to the conclusion I had to shift gears.” She says in the 1980s and ‘90s, home inspections were the exception rather than the norm, and if one did hire a home inspector, it was like that proverbial box of chocolates—

you never knew what you were going to get. Only since 2009 has the home inspection profession become regulated in B.C. So in 2010, Fleiss hit the books, graduated from the Carson Dunlop Home Inspection Training Program, and completed her practicum with Brian Sanjenko, one of the most knowledgeable and wellrespected home inspectors in the Okanagan. She passed her final exam, and finally became a licenced home inspector in February. “I feel confident about going into business in this field because I know about construction and the trades and what can go wrong with a house,” Reiss said. “But it’s still a little bit of a scary situation at the outset because you have to market yourself, get your name out there.” Fleiss said having a parttime job to off-set the financial risk also can make it difficult for the business to succeed. “You have to be really focused on the business, available at any time because you never know when the phone is going to ring. You can’t do that if you are in the middle of a shift for another job. “So I think it’s important to

CONTRIBUTED

HEATHER FLEISS checks out the attic crawlspace of a home with her flashlight. be focused on the business and allow yourself a bit of a buffer so you are not financially strapped when starting out.” Now my job is to provide people with a fair, independent and objective evaluation of their home or prospective home. She wants her home evaluations to strengthen people’s knowledge and raise their confidence so they are left less vulnerable and more proactive when it comes to making their

real estate decisions. “Only a few days ago I was in a confined and pitch black crawl space. Armed with my faithful flash light and camera I had to make my way trenchstyle, on my elbows and knees, through decades of dust and cob webs to inspect the home’s structure, plumbing, and foundation,” she said. “Call me crazy, but at that very moment instead of thinking, “Yuck, get me out of here,” I found myself thinking, ‘Wow,

this is so cool, this home is over 60 years old and everything I see is still in amazingly good shape, it’s a beautiful thing.’” “Helping people make informed choices toward home ownership hugely gratifying. “For a moment I become part of their pursuit of making a house a home. “I get to share their excitement, their concerns, their hopes and dreams. I love putting people in their place.”

Tips for financing your growing business

Is it time to go shopping for a major purchase for your growing small business? It can be hard not to get swept up in the excitement. Whether it’s a major technology upgrade or shiny new equipment, you probably spent hours shopping around for the best product, comparing consumer reviews and talking with vendors. Then comes the hard part: How to pay for it? Here’s where many entrepreneurs could be doing a better job. Financial planning for an expansion project may not be quite as sexy as a cool new smart phone or bigger digs for your office. But it’s critical to make sure your investment doesn’t stretch your cash flow and sink you. “Growth can put an enormous strain on the cash flow of a company,” says Patrice Bernard, senior vice-president, financing and consulting at the Business Development Bank of Canada. Small business owners often make the mistake of financing growth out of their cash flow or by cobbling together a patchwork of smaller loans for each individual purchase, Bernard says.

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PROTECT CASH FLOW

The result can be poor financing rates and repayment conditions. Or even worse—the company may suddenly become caught in a cash flow squeeze. And then it may be too late to line up any financing at all. “It’s as if you used a credit card to finance your home renovations. Your cash flow would be really affected,” Bernard says. Bad financial planning is especially common—and risky—at fast-growing companies, says Peter Brown, with the financial advisory firm Deloitte, where he is national leader of private company services. “High growth can kill you if you don’t have the capital.” “You need to plan more if you’re expanding because you usually have much higher accounts payable and receivable,” agreed Bernard. The solution is to take time to do a financial plan for upcom-

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Tuesday, October 16, 2012 Business Leaders

MLA touts business mentorship as an invaluable asset Barry Gerding EDITOR

Ben Stewart has seen it from both sides. As the Liberal MLA for Westside-Kelowna riding and the owner of Quails’ Gate Estate Winery, Stewart understands both sides of the conflicts between the business world and government bureaucracy. “It’s something I hear all the time from business people about the red tape issue,” Stewart said. “And frankly our government has taken on certain pro-

cesses and done a lot of streamlining of the paperwork. We’ve seen a 40 per cent reduction in the regulations that businesses have to deal with over the past four years.” Stewart said that progress is important because the province can’t lose sight of the importance of small business to the economy. “It is the backbone of our provincial economy, and the statistics are staggering in terms of how much that is true.” Stewart said the latest count shows there are about 400,000 small business in B.C., the net pre-tax profit thresold for be-

ing classified in that category recently being raised from $200,000 to $500,000. Stewart said the small business growth in the Okanagan is the most in B.C. over the last four years, 7.3 per cent annually and 3,500 new businesses created. Kelowna is the largest small business creator in the Okanagan Thompson region, but also ranks 13th within all of Canada. “Kelowna is one of the small business leaders in the country. It’s very significant to our economy,” he said. Stewart acknowledges that

educating business owners to deal with bureaucratic barriers or to pursue new business ideas is a challenge, but he says many sources exist to help with that exchange of knowledge. He says chambers of commerce can help a lot, business roundtable discussions, other local business associations and service clubs can become conduits of learning information. “I find it’s really valuable for MLAs and government ministry officials to attend those events, because it is an opportunity to hear what is concerning business owners,” he said. “If we’re not listening or hearing what people are saying, then we’re essentially not representing what they’re ask-

ing for as a government.” Stewart said his involvement with the chamber helped him to develop a benefits package for his business employees, and his time as a member of Kinsmen also opened business networking doors. Stewart feels the biggest boost for any small business owner starting out is mentorship. “I remember I had a friend named Don Carpenter who used to always tell me that cash flow is king,” Stewart laughed. “He used to harp on that all the time, and it’s something that I never forget in dealing with our business. There are going to be years where you are struggling at the outset, as was the case with our winery,

but I always made certain that we had cash flow.” Stewart said the biggest value of mentorship is to remind small business owners they are not alone. “I think at times a lot of people in business feel like they are on their own, a person out on an island and there is nobody they can talk to,” Stewart said, who says as an MLA he often is called upon for business advice from constituents pondering their own move into the business world. “Business people are busy but even if you take the time to sit down with someone and have a coffee and talk about an idea, what you learn from that can be invaluable.”

Customer service is the top priority for any business today

a dream comes to life!

passion for the outdoors and determination to own a business were the driving forces behind the inception of this new West Kelowna retail business. The owner, Larry Wilkins, saw an opportunity for this type of business in West Kelowna and built this specialty store from his vision. He designed the interior of the store and did much of the work himself, investing many long hours before opening. In addition to hunting, fishing, camping and archery supplies, the sale of non-restricted and restricted firearms will fill a niche that was not available on the West side until now. Snowshoes and ice fishing gear will help outfit the winter sports enthusiast. “Helping you get into the outdoors!”

8-1767 Ross Road, WEST KELOWNA 250-769-6565 | info@antlercreekoutﬁtters.ca

Trevor Kilburn

Barry Gerding EDITOR

Bill Baril has some simple but important advice for new business owners—treat every customer that walks in your door like he or she may be your last. He started his business seven years ago and continues to benefit today from that philosophy. Baril is the owner of Premium Granite Works Inc., located in Kelowna. Premium specializes in making premium counter tops for kitchens, bathrooms and patio areas as well as mantels, fireplace faces, outdoor barbecue areas, tables and bar tops. His company works primarily in granite, engineered stone and marble product installations. “We are doing well now but like any new business, you have to put in your time, market yourself and get established. If you survive the first four or five years, generally you will be alright.” Baril knows something about sales. He was the top salesman for Don Folk Chev Olds for eight straight years, and for one stretch 60 consecutive months. The customer service techniques he learned in the car business have been carried over to his business, from providing quality service to

customers and sending followup phone calls and letters, to providing a $150 cheque for every new referral from a previous customer. “Marketing is all about sales and service, and backing it up by doing what you say you will do. If you are going to advertise yourself as putting out a quality product, it better be a quality product.” Baril said in his business, when he started there were three installing companies, and today there are 14. “The competition aspect has quadrupled. Nobody is interested in laminate counter tops anymore, everyone wants rock and the demand is making the product price cheaper,” he said, a reflection of the increased competition for clients. “Five years ago, customers would ask when can you put in the new counter top. And there was a three month waiting list. Today, they ask how much and when can you put it in.” Barill says he still loves his business, finding it more enjoyable and fun with each passing year. “When you see a customer in tears after everything is installed and so happy at the change, you realize what an emotional experience it is both for us and the customer.”

hair & body spa

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Telephone/Fax: (250) 764-8089 | Cell: (250) 864-3197 Toll Free: 1-888-KILBURN (545-2876) Email: trevor.kilburn@kowim.ca | Web: www.kowim.ca

Coni Grande | Amici’s Hair & Body Spa

eflecting back on the last 15 years of owning my own business I ponder on what makes a successful and thriving small business in the Okanagan. From the age of 20, I turned to the foundation of my father Peter Grande who owned a successful men’s wear store and tailor shop in Kelowna for over 30 years. Watching my father work at his men’s wear store inspired me to become a business owner. It also helped me to realize that owning a business is much like designing a fine tailored suit. A unique pattern must first be presented; it must withstand the wear and tear of daily life, create a strong respectable appearance and stand the test of time. In 1997, I decided to create a new pattern for my life; having the opportunity to purchase a salon I began my journey in business creating Amici’s. I continue to make small changes. It is important to recognize trends, the need to stay current, renovating along the way, providing staff with education and implementing new client services. In many businesses, large or small there are economic boundaries such as slower months. It is important to recognize these times and find local support to assist in maintaining a strong flow to our business. The local newspapers and radio stations, and creating an interesting website have definitely been the important factors in developing our image and maintaining our awareness. I dedicate my business success to the many great staff members past and present, loyal clients of Amici’s and all the local sales representatives that I have had the pleasure of working with in assisting me to continue to grow my business in the thriving Okanagan.

595 Lawrence Avenue, KELOWNA 250-762-3000 | www.amicishairandbodyspa.com | amicis1@shaw.ca

Business Leaders Tuesday, October 16, 2012

www.kelownacapnews.com Z9

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Tuesday, October 16, 2012 Business Leaders

Measuring the impact of small business Planning out business Small businesses are often touted as the backbone of Canada’s economy, but how much do they actually contribute to the country’s gross domestic product? How many small businesses are there, and how many do they employ across the country? And what exactly is a small business, anyway? In recognition of Small Business Week across Canada, which this year is Oct. 14 to 20, the CBC compiled some of the big numbers behind small businesses in this country based on Industry Canada statistics. What is the definition of a small business in Canada? 1 to 4 employees: Microenterprise 5 to 100: Small business 101 to 499: Medium-sized business 500-plus: Large business

How many small businesses are there in Canada? The total number of registered employer businesses in Canada (businesses with at least one employee on payroll) as of December 2010, the most recent figure available: 1,138,761 Of that figure, 1,116,423 of those were small businesses, comprising 98 per cent of all employer businesses in Canada.

How many Canadians work for small businesses? 5,137,147 (48.3 per cent of Canada’s total workforce). In 2005, 41 per cent of employed Canadians worked for businesses with fewer than 20 employees. How many Canadians are self-employed? In 2010, 2.7 million Canadians were self-employed. 35 hours: Average work week for employees in 2010 40 hours: Average work week for the self-employed in 2010 31 per cent of self-employed Canadians reported working more than 50 hours per week in 2010, while 4 per cent of employees worked past that threshold in the same year. Success vs. failure Largest number of new Canadian small businesses established in one year: about 115,000 in 2005. Smallest number of new small businesses established in one year: about 90,000 in 2002. Largest number of small businesses that disappeared in a single year: about 100,000 in 2006 Net average of small businesses established from 2002 to 2007: 15,000 How active are small busi-

ness owners online? In 2007, the year for which the latest statistics from the Canadian government are available, 85 per cent of small businesses had Internet access, 99 per cent of large businesses had Internet access, 36 per cent of small businesses had their own websites compared to 91 per cent of large businesses, and seven per cent sold goods/ services online (compared to 22 per cent of large businesses. What do small businesses contribute to Canada’s total exports? 86 per cent of Canadian exporters were small businesses in 2009. Small businesses accounted for $68 billion in exports (25 per cent of Canada’s total export value). How much do small businesses contribute to Canada’s GDP? In 2005, small businesses accounted for 42 per cent of the country’s private sector GDP. In 2009, 28 per cent of the country’s total GDP came from businesses with fewer than 50 employees. Are small business owners confident about Canada’s economy? The CFIB’s Business Barometer Index fell to 61.7 in August 2011, its lowest reading

since July 2009. A score of 50 or higher means more business owners expect a stronger performance in the next year than those who expect a weaker performance. Provincially, Alberta’s index was the highest in the country at 75. Prince Edward Island had the lowest index at 59.7. The index bottomed out in late 2008/early 2009 at under 40. What will happen to small businesses when the owners retire? With the baby boomers reaching retirement age, a large number of companies will likely change hands in the coming years. According to TD Waterhouse’s early October Business Succession Poll of 609 small business owners, just 24 per cent of small business owners surveyed said they had a succession plan worked out for retirement. Of those polled, whether they had a formal plan or not, 23 per cent said they would simply close their business when it came time to retire; 20 per cent planned to sell their business to a third party; 18 per cent expected to transfer it to a family member; 12 per cent said they’d sell to a partner or employee; and 27 per cent said they were not yet sure what they’d do with their business.

financial strategy Tips from Z7 ing investments, preferably at the beginning of each year. The first step is to work out how much financing you’ll need based on your overall business growth plans. Next, meet with your financial partners early on to discuss your plans and brief them about your needs for the coming year. This is the time to secure a credit line for your investments in the coming year, which you can draw on as needed and then convert into long-term debt at the end of the year.

PLAN FINANCING The idea is to plan your financing to have the best possible conditions for your debt. The exercise may even show that you need more than one financial partner to give you enough flexibility. And never pay for large expansion projects out of your cash flow, Bernard says—even if it looks like you’ve got oodles of extra cash on hand right now. “That’s a big mistake,” Bernard said. “When cash flow is good, you think it will always be like that. But if a company is growing, it has to invest much more than other companies. And profits usually won’t be enough to cover your investments.” “It’s always better to seek financing before you need it rather than during a crisis. It shows good management. Financiers are much more likely to give financing to an entrepreneur who shows good management,” added Brown. Rob Read always used self-financing at his quickly growing fire extinguisher maintenance company, Bison Fire Protection, as it ballooned from five employees to 50 over the past decade. But when Read and partner Émile Jolicoeur decided to expand into new lines of business, such as fire alarms and sprinkler services, they realized they needed better financial planning. They brought in an outside consultant to help them plot out their overall business strategy. That exercise led them to do their first budgeting and forecasting and add overdraft protection and a line of credit to make sure they’ve had money lined up before they actually needed it. “They’re partners in our business. They’re definitely part of the team,” Read said of his new financial advisors.

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Business Leaders Tuesday, October 16, 2012

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Tuesday, October 16, 2012 Business Leaders

JUST A FEW REASONS WHY OKANAGAN DODGE IS THE

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