In Touch September 2021

SEPTEMBER 2021

WITH BRANTFORD • BRANT

Chamber of Commerce Brantford • Brant

MAYORS’ LUNCHEON SEE PAGE 22 FOR DETAILS.

Mayors’ Luncheon exclusively sponsored by Enbridge Gas Inc

The One Stop Print Shop For all of your print needs...

• Business Cards, • Presentation Folders, • Labels & Stickers, • And much more...

September 2021

519.759.0087 www.mtprint.com

Visit us at brantfordbrantchamber.com

PRESIDENT

Ken McNaughton

WITH BRANTFORD • BRANT

McNaughton Agency Inc. The Cooperators

SEPTEMBER 2021

1ST VICE PRESIDENT

Paul Bisanti

Lanca Contracting Ltd. 2ND VICE PRESIDENT

Chris Rayfield

Methapharm Inc./ ACIC Pharmaceuticals Inc. TREASURER

Jacinda Reitsma Conestoga College PAST PRESIDENT

13th Annual Trade Show September 28, 29 & 30, 2021 Find all the details!

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Paul McCaig

Paulsan Construction

Celebrating our 155th anniversary!

DIRECTORS

Garnet Lasby

Browse through pictures from the 80s and 90s who do you recognize?

Massilly North America Inc.

Joy O’Donnell

Grand Financial Planning

Trevor Rumble

The Marco Corporation

Eddy Vance

Ask a Lawyer

Contract Termination for Convenience Waterous Holden Amey Hitchon LLP

Waterous Holden Amey Hitchon LLP

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Sandra Vos

Brant County Federation of Agriculture

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Mayor Kevin Davis City of Brantford Mayors’ Luncheon

Mike Yarek

Mike Yarek Dodge Chrysler Ltd. SECRETARY TO THE BOARD CHIEF EXECUTIVE OFFICER

David Prang

Financial Feature

A New Means for Intergenerational Transfers Millards Chartered Professional Accountants

LIAISONS

Dan McCreary City of Brantford County of Brant JCI Brantford

David Prang Managing Editor

Leslie Barker Events Coordinator

Greg Evans Advertising

Visit us at brantfordbrantchamber.com

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Mayor David Bailey Mayor Kevin Davis City of Brantford County of Brant

is published six times a year by the Chamber of Commerce Brantford • Brant

Marc LaFerriere Michelle Giffin

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77 Charlotte Street, Brantford, ON N3T 2W8 Phone: 519-753-2617 • Fax: 519-753-0921 www.brantfordbrantchamber.com Mandate: To be the voice of business that promotes economic growth and prosperity in our community.

Publication Agreement # 4076850

September 2021 Mayor David Bailey County of Brant

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Message from the CEO What an interesting and challenging summer it has been! The ever-evolving pandemic challenges maintained a steady stream of advocacy and planning activity. Thank you again to our sponsors, golfers, and our venue, the 54th Annual Chamber Golf Tournament at Copetown Woods had the most golfers in recent memory, and a fantastic day. Our Tradeshow is next on the event calendar, beginning September 28th.

This fall, look for a blitz of activity in our Federal Election advocacy efforts, as we look to amplify your voice to government, and then again at the Canadian Chamber of Commerce AGM and Policy Convention in October.

David Prang – CEO

Shortly after the election we host our Annual Mayors’ Luncheon on October 7th, then we look forward to launching a comprehensive Membership Survey, our first in four years.

Finally, our annual call for volunteers wraps up this month. Our Board of Directors has positions available in a couple of sectors, for interested members with some Board experience. In addition, some Chamber committees, have space available as well.

If you have ideas in how to improve our community and support business, your time and input will be used efficiently.

CHECK OUT ALL THE BENEFITS AVAILABLE TO OUR MEMBERS! www.brantfordbrantchamber.com

Established in 1920

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Millard Rouse & Rosebrugh LLP 96 Nelson Street, Brantford Tel: (519) 759-3511

Partners: M.J. Dixon, CPA, CA • R.D. Sciannella CPA, CA, CBV • H.C. Johnston CPA, CA • S.E. Goodwin, CPA, CA T.B. Sinclair, CPA, CA • D.A. Cleary, CPA, CGA, CFI • S.D. Klein, CPA, CA • G.S. Gravett, CPA, CA • S.A. Salole, CPA, CA • J.B. Baetz, CPA, CA R.W. Storoschuk, CPA, CA • S.W. McGaghran, CPA, CA • J.E. Chowhan, CPA, CA • P.E. Merrylees, CPA, CA • J.A. Laporte, CPA, CA R.A. Parker, CPA, CGA, CFI • G.M. Malecki, CPA, CA • Q.E. Bateson-Hotte, CPA, CA Associates: B.Y. Brenneman, CPA, CA • C.J. Storoschuk, CPA, CA • K.B. Weames, CPA, CA • W.A. Deane, CPA, CA • D.E. Paxton, CPA, CA M.M. Malecki, CPA, CA • N.T. Nguyen, CPA, CA • S.C. Dykstra, CPA, CA • Wes E.B. Caldwell, CPA, CA

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September 2021

Visit us at brantfordbrantchamber.com

Entrepreneurship is Everywhere get you incredibly far in business.

Owen Portelli When someone mentions entrepreneurship too often people look to new businesses such as the tech start ups in Silicon Valley or other largescale operations backed by millions of dollars in capital. While those examples make headlines, it is the hard work and creativity of many small business entrepreneurs that truly represent entrepreneurial drive. People like Dale Wills of Brantford Cleaners build viable businesses and contribute to our communities quietly and efficiently. His interesting story demonstrates that hard work, perseverance, and ingenuity can

Visit us at brantfordbrantchamber.com

Mr. Wills story starts at the young age of eleven, when he began working for his father’s cleaning company. His time working for his father taught him the ins and outs of the commercial cleaning industry. After being trained by his father, he left the cleaning business for other endeavours. How did he return? He purchased a mop and bucket from a garage sale as well as some other cleaning supplies from department stores, for a total start up cost of about $100. Mr. Wills then got to work marketing his business, putting his face out there to everyone. Industries like commercial cleaning, as with many new entrepreneurial endeavours, require a network for business to grow. So, Mr. Wills worked tirelessly to get his foot in the door picking up contracts in Brantford and surrounding areas and building his network.

As with many businesses, Mr. Wills had embraced hurdles in the past and built a strong business, however when the pandemic

hit there were initial concerns. Fortunately for Mr. Wills, his cleaning business is what he likes to call “Pandemic Proof.” He says his book of contracts grew at least fourfold or even fivefold over the pandemic because of increased cleaning measures being taken. Mr. Wills enjoyed being able to help locals stay safe during the heights of the pandemic. He is a firm believer in community and believes community will “build you up.” So, his community takes priority for him when he purchases equipment or picks up contracts. Mr. Wills tries to support other local businesses and entrepreneurs whenever possible.

Mr. Wills’ story demonstrates that entrepreneurship is so much more than headline grabbing start ups, it is a means for motivated and innovative people like Mr. Wills to provide a value to the people they care about and their communities. Mr. Wills encourages aspiring entrepreneurs to have a relentless commitment and to never get discouraged.

September 2021

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Membership Corner Greg Evans

I always find I naturally like to use that transitional season to reassess my personal and professional goals – and to make myself take a step back to see if my goals and my approach still make sense.

Here are a few tips and things to take a step back to think about as patio season comes to an end:

Revisit Your Original Goals Back to School Means Change – But Not Just For Kids I’ve come to the realization that I really don’t like using the New Year to make new goals and reassess progress. The gyms are always packed for the first couple of weeks, I always feel bloated after what feels like fifteen holiday dinners over the previous couple weeks, and I always feel like I’m playing catchup in my professional life to kick things back in to gear after a hectic a holiday season.

As summer winds down, kids head back to the classroom, and fall approaches,

When 2021 began, what were the things you said you absolutely needed to accomplish by the end of the year? As you grow and change, your goals and priorities have likely changed too; don’t waste time plugging away at a goal you aren’t as passionate about accomplishing.

Take a moment to review all your goals (or set some, if you haven’t already!) and evaluate whether you’re still motivated and whether your techniques can be more efficient. If 2020 and 2021 have been good for anything, they were good for learning – apply what you’ve learned from the hard lessons of the past year and a half!

Revisit Your Budgets Whether we’re talking business or personal, it’s easy over the summer to lose focus on revenue and expenses to make sure they line up where you expected they would by this point in the year.

Whether it’s a household expense, business budgets including marketing, or something else – take a look at the numbers and figure out whether there are any areas money might be better spent for your family or for your business.

Tell Others About Your Goals!

I find that when I set internal goals, it’s far too easy to compromise my plan and make excuses to myself for not executing my plan properly. When I vocalize and let others know what my plan is, I feel more accountable.

Tell your friends, family, and colleagues what your goals are and how you plan to accomplish them. They can help keep you accountable and keep you motivated!

REVISIT YOUR GOALS AND BUDGETS >> TELL OTHERS ABOUT YOUR GOALS!

Membership Renewals ■ Membership Renewal May 21-July 27, 2021 ■ ACIC Pharmaceuticals Inc./Methapharm Inc. ■ Advanced Office Solutions ■ AIM Recycling Brantford ■ Alliance Research Tech Inc. ■ Bobcat of Brantford ■ Brant Historical Society ■ Brantford Blooms Florist Inc. ■ Brantford Granite & Quartz ■ Corner Motor Sales Limited ■ Cornerstone Material Handling Inc ■ Crossing All Bridges Learning Centre ■ David W. Wilson Manufacturing Ltd. ■ The Design Thinking Agency ■ Easton Mechanical Contracting Limited ■ Edward Jones-Sadeki Simpson ■ Ener Dynamic ■ Family Care Chiropractic ■ Fowler Metal Industries Ltd. ■ Front-Line Cable & Gas Services Inc.

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September 2021

■ Goo’s Take Out & Catering ■ Grand Financial Planning ■ Hairways ■ IBC Computers Brantford Inc. ■ Impact DJ ■ Impact Home Staging ■ InSitu Remediation Services Ltd. ■ Intrigue Brantford ■ Itech Environmental Services ■ Jacob Ellens & Associates Inc. ■ JB Construction Management Corp.

■ Kathryn Kissinger HR Services ■ Lansdowne Children’s Centre ■ Lawrie Insurance Group ■ David V. McKee ■ Mohawk College of Applied Arts & Technology ■ Mulrain Guitars ■ Norlok Technology Inc. (ISO 9001 Registered) ■ Octopus Red ■ Picture Perfect Window Coverings

■ Pioneer Family Pools ■ PQI Canada Limited ■ PRODIGY Personnel ■ Pynx Productions ■ Rawlings Group Canada ■ The Rotary Club of Brantford-Sunrise District 7090 ■ Seasons Brantford Retirement Community ■ SelectCom Inc. ■ Silver Fox Production Inc. ■ South Coast Physio Plus ■ St. Leonard’s Community Services ■ Thorpe Bros. Funeral Home & Chapel ■ Tim Hortons Downtown ■ Wade Antenna, Inc. ■ Walking Floor International Canada ■ West Brant Physiotherapy & Massage Therapy ■ Wolak’s Services Ltd. ■ Wylde Rose Handmade Soaps

Visit us at brantfordbrantchamber.com

Welcome to Our New Members ■ SongBird Marketing Communications Professional/Scientific/Technical Services Candace Huntly & Trevor Shorte candace@songbirdmarketing.com 18-77 Diana Ave. Brantford, ON

■ Brantford Cleaners Cleaning Service Dale Wills brantfordcleaners@gmail.com 66 Allanby Ave. Brantford, ON

Welcome!

CHAMBER MERCHANT DISCOUNT PROGRAMS

Our Discount programs mean direct savings for your business. Learn more at brantfordbrantchamber.com/discount-partners

Commissioning Services Chamber of Commerce BrantfordBrant provides Commissioning Services for Certificates of Origin and other documents.

$18 plus hst

for Chamber Members &

$36 plus hst

for non-members.

Call (519) 753-2617, ext 25 for more information.

BUSINESS AFTER HOURS SAVE THE DATES! The below events will take place if COVID restrictions allow.

TUES. OCT. 12TH – Hosted by Habitat for Humanity (80 Morton Ave. E.) 5:00 – 7:00 p.m.

Family owned and operated for 50 years

TUES. NOV. 9TH – Hosted by the Rotary Club of Brantford Sunrise at the Brantford Golf & Country Club 5:00 p.m. – 7:00 p.m.

TUES DEC. 7TH – Chamber Open House @ The Rope Factory from 5:00 p.m. – 8:00 p.m.

We are looking forward to networking once again.

2022 is filling up quickly, book you spot for 2022 now. Contact Leslie to reserve your spot, at leslie@brcc.ca Visit us at brantfordbrantchamber.com

SALES & SERVICE • REPAIRS & INSTALLATIONS FULLY LICENSED & INSURED Licensed Backflow Technicians Drain & Sewer Cleaning • Water Treatment Systems Plumbing Fixture Installations Electric Water Heaters • Custom Homes

118 COCKSHUTT ROAD, BRANTFORD 519-753-6363 boyleplumbingheating.ca September 2021

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Advocacy Throughout the pandemic and continuing now through the next 13 months, your investment in the Chamber supports the critical voice of business to advance the challenges, and ideas for improvement, to all three levels government, and through the events and activities hosted by the Chamber.

The Canadian Chamber of Commerce has identified three key themes, complimented by 37 recommendations to set Canada on a path for sustained, long-term economic growth. This platform can be viewed at: https://chamber.ca/grow. Finishing the fight against COVID-19, Getting the Fundamentals Right, and Creating 21st Century Opportunities contain the key priorities for all political parties to strive for to strengthen Canadian business, and in turn, our collective quality of life. As you read this, Chamber leaders and our community

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September 2021

partners will be delivering these messages, localized to BrantfordBrant, through our federal election advocacy efforts with a streamed Candidates Debate, candidate interviews, and social media messaging.

In our riding, we have the opportunity to elect a new Member of Parliament, without an incumbent or returning candidate, for the first time in recent memory. Please help to amplify these efforts through your engagement and participation.

Looking forward, our Advocacy Committee will begin to re-imagine our efforts on provincial and local issues, knowing that June and October 2022 will bring elections on those fronts. Your ideas, concerns, and participation are welcomed and encouraged as we build out those platforms over the winter.

Visit us at brantfordbrantchamber.com

Get Your Building On Track!

BRAND NEW River Rail Business Park Industrial land for SALE OR LEASE with Rail Shunt Available!

Located at Powerline & Oak Park, River Rail is the only one of its kind in Brant County, with C.N. Rail shunts available and immediate access to Highway 403. All buildings feature premium façade treatments and more! Inquire today. Let’s get your exciting new Class ‘A’ M3 Industrial Space rolling.

• • • •

Up to 500,000 sq.ft. Design-Build Opportunities Located at Powerline & Oak Park in Brant County Ample parking available 10% Finished Office Space with Mezzanine

• • • •

Access to Highway 403 Minutes to Pearson International Airport Supports various uses Hwy 403 signage visibility

For more information contact LANCA CONTRACTING LIMITED AT 519.756.1880 • LANCA.COM Visit us at brantfordbrantchamber.com

September 2021

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Member Profile Seventh Coffee Co. “None of that matters without great coffee” is always the tail end of any description of Seventh Coffee Company.

The story of Seventh Coffee begins with cofounder Mike Gatopoulos’ son, Jack. Jack is missing part of his seventh chromosome, a genetic condition known as Williams Syndrome. The name, and even the logo, which has part of the seven missing, is all in honour of Jack. After years in the consumer electronics world, upon the recent diagnosis of his son’s syndrome, Mike wanted to truly do what he loves, and that led him right to coffee. Mike enlisted friend and former colleague Michael Thomlison, and together they formed Seventh Coffee Company.

The most important aspect in forming the company was to operate as a social enterprise. After seeing the way the community rallies around special needs children, and the vast amount of support available, Mike wanted to form something that would give back to the community

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September 2021

that had served Jack so well. It was decided that Seventh would serve the community in any ways that it could, be it donations of money, time, or raising awareness for various causes amongst the community. Seventh would function to leave the world a little bit better than both Mike’s found it. But none of that matters without great coffee.

Seventh roasts coffees from around the world at its roastery in the Artisan Village in Brantford. A commitment to providing the best quality coffee in the region is the most important aspect of Seventh, so hours are spent developing roast profiles, testing, adjusting, re-testing, and discarding coffees that are not perfect. With 7 year round coffees, and another 4-7 rotational, seasonal offerings, Seventh has by far the most selection of any coffee roaster in the region. For more information about Seventh Coffee, check out www.seventhcoffeecompany.com

Visit us at brantfordbrantchamber.com

Ask A Lawyer

Contract Termination: Termination for Convenience Waterous Holden Amey Hitchon LLP by Courtney Boyd What is a ‘Termination for Convenience’ Clause?

Your business has entered a contractual relationship with a third party, but overtime the business relationship begins to breakdown, or you have identified another third party that can better fit your business’s needs. In these circumstances, a ‘termination for convenience’ clause in the contract can allow for simplicity in the termination of the contractual relationship.

A ‘termination for convenience’ clause is an express term in a contract that allows a party (or both parties) to terminate a contract without establishing a breach of contract or a cause. This type of termination clause can be helpful for your business by allowing an end to the contractual relationship for any reason, without penalty and without the need of costly litigation.

It is important that your termination for convenience clause is clear, unambiguous and details the circumstances for when and how it may be invoked. A properly drafted termination for convenience clause can avoid disputes surrounding its use or applicability.

Visit us at brantfordbrantchamber.com

Waterous Holden Amey Hitchon LLP Brantford, 20 Wellington St., Brantford.

Most commonly, termination for convenience clauses will provide for termination with a prescribed period of notice and payment for services rendered up to the date of termination. It is the discretion of the parties to include further payments or costs, such as an early termination fee.

Termination for convenience clauses can be a powerful and effective tool that allow Similar to other contract provisions, a termination for convenience clause must be exercised in good faith. In a recent Supreme Court of Canada decision, C.M. Callow Inc. v. Zollinger, the Court reaffirmed the duty of good faith when exercising a termination for convenience clause. In that case, the

terminating party created a false impression of potential contract renewal before relying on the termination for convenience clause.

As such, failure to exercise a termination for convenience clause in good faith could result in damages for breach of the duty.

A termination for convenience clause is a powerful and effective tool that can allow for flexibility in the termination of contracts.

If your business is considering the inclusion or exercise of termination clauses in its contracts, the lawyers at Waterous Holden Amey Hitchon LLP have the expertise to advise and assist your business in its contractual relations.

September 2021

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The Chamber of Commerce Brantford-Brant is pr We’re having a ton of fun looking through our photo albums from past decades. Put some new batteries in your Walkman, get out your Rubik’s Cube, and enjoy some of these memories from the 80s and 90s!

Who do you recognize?

1980 1982

1983

1 19

New Office

1987

1997

New M

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September 2021

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roud to be celebrating our 155th anniversary!

1999 Career Fairs

Golf Tournaments

1984 1984 993

1989

1985

2001

Women’s Networking

Member Lunches Visit us at brantfordbrantchamber.com

September 2021

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Member Profile JoRo Flowers Live Well. Enjoy It with Flowers!

Jo-Anne Webb, owner of JoRo Flowers in St George is blessed to live her passion every day!

It all started 11 years ago, while teaching the floral design course at Mohawk College for over 25 years, when Jo-Anne (affectionately known by her customers as Jo Ro), saw the opportunity to open her own flower shop in St George!

Since then, Jo Ro has been creating one of kind floral designs, from traditional to contemporary, for every day and every type of special event! “I enjoy working with my customers and the budget that they may have in mind, to create unique floral arrangements that they are excited to give as a gift or show case in their home. Whether it is a simple bouquet or a high-end ‘grand event’, I love the challenge of being creative and designing arrangements that reflect both the customers individual taste and unique style of JoRo Flowers.”

While there is always an amazing variety of fresh flowers and quality plants available at JoRo Flowers, Jo-Anne prides herself on being more than your traditional flower shop. Stocking a wide selection of beautiful home décor, garden accents ladies fashion, sweet delights and many other interesting finds, you are certain to find the perfect gift at JoRo Flowers!

“Our ‘flower of the month’ club has been well received. Simply give me a call, I’ll set you up with the program and a surprise bouquet will arrive at the door each month! It’s the perfect way to celebrate someone…a birthday, anniversary, or just to say ‘I love you’!”

Being a small business owner isn’t always a ‘bed of roses and Jo-Anne has had to reinvent herself over and over again to stay afloat over the years. The past year and a half has been more than a roller coaster ride for many small businesses and JoRo Flowers is no different. “Keeping up to the ever changing restrictions and trying to figure out the rules as we went along created a lot of stress. It is exceptionally challenging when you are working with perishable products like fresh flowers…

Being in lockdown over Valentine’s Day, which is our busiest day of the year, was more than challenging! We have to pre-book our Valentine’s Day flower order before Christmas so it was more than disappointing to see that we were still unable to open for in-store customers when the holiday came around.” “I am so grateful to the community and the support of so many of my long standing customers… I couldn’t have gotten through these times without all of them.”

“I am excited to see everyone in my new location, at The Mill, 41 Main St, here in St George, where I know you will find something special and continue to “Live Well and Enjoy It with Flowers”!”

SALES • 24/7 SERVICE • INSTALLATION

MARCH 2021 JAN UAR

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BELL COMMUNITY BUILDER

Chamber of Commerce Brantford • Brant

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Chamber of Comme rce Brantford • Brant

AWARD

NEUR OF THE YEAR AWARD

ENTERPRISE BRANT ENTREPRE

WATEROUS HOLDEN AMEY

HITCHON COMPANY OF

THE YEAR AWARD

N AUGHTO N MCN T MEET KE W PRESIDENE 9 SEE PAG YOUR NE photo by

2020 Golf

2021 CONGRATULATIONS TO OUR STS BUSINESS EXCELLENCE FINALI e Obbink

Jeanett

PRESENTING PARTNER: BDO

Tournamen t pictures

courtesy of

2021 ANNUAL CHAMBER GOLF TOURN AMENT SEE

— SEE PAGE 12

PAGE 18 FOR

DETAILS

ATTENTION

ADVERTISERS! Working together to serve you better!

The deadline for the November 2021 edition of InTouch is

October 1, 2021 8 - 236 BRANEIDA LANE, UNIT 8, BRANTFORD 519-758-3500 or 519-751-9190 Fax: 519-758-3505 info@vivemechanical.net • customerservice@brantmechanical.ca

www.vivebrant.ca 14

September 2021

BOOK YOUR AD TODAY! Contact Greg at 519-753-2617 or email: greg@brcc.ca Visit us at brantfordbrantchamber.com

Member Profile Family Care Chiropractic Celebrates 25 Years Family Care Chiropractic has been helping Brantford and Brant County get and stay healthy for the past 25 years.

Many of Dr. Alexander (Sandy) Kunej’s patients have been receiving regular chiropractic care for years; “some even from 1996 – the year we opened our original office,” says Dr. Sandy. He had the pleasure of not only watching his own three children grow up healthy under regular chiropractic care, but so many other families.

Chiropractic is based on the simple, yet powerful principle, that the body heals and runs itself best when there is no interference along the pathways from the brain, down the spinal cord and out to the nerves to every organ and tissue in the body.

adjustment techniques can be utilized for your comfort, and optimal results.

Dr. Sandy, a proud long time Chamber of Commerce member, lives in Brantford with his wife, dentist Dr. Heidi Kurtz and their 3 children Noah, Markus, and Erika, and has supported the community through various volunteer work, including coaching soccer, past division chair of United Way and local committees, sponsored numerous sports teams and monthly donations to local community charities.

Find out more about Family Care Chiropractic at www.familycarechiro.com, or call us at 519-752-8100. Don’t forget to check us out on Facebook www.facebook.com/FCCbrant.

Family Care Chiropractic was located at the corner of North Park and Fairview for almost 20 years, then in 2016 moved to a modern, yet warm office located at 24 Charing Cross St. here in Brantford. “We wanted to create a healing environment where our patients feel like they are coming home” explains Dr. Sandy.

Family Care Chiropractic provides care for all ages, from pain relief to wellness, with specialty training in pregnancy, infant and child care, and special interest in sports and caring for athletes. The FFC team includes the personable and professional chiropractic assistants Laura V. and Krista P. Dr. Sandy utilizes computerized spinal thermography and digital x-rays as part of your thorough initial spinal and nerve examination. Various

Dr. Sandy, Krista, and Laura

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• Security, Governance, Risk & Compliance Services

YOU FOCUS ON YOUR BUSINESS WE’LL HANDLE THE TECHNICAL STUFF

SecurIBC offers Managed IT services that provide you with the cost-effective technology solutions you need to grow your business.

196 King George Road, Brantford

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September 2021

•

519.753.2861

• Enterprise Backup & Recovery • Secure Cloud Services • Managed IT Services • Enterprise Asset Source and Repair • Managed Groupware/Email

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info@ibcbrantford.com

Visit us at brantfordbrantchamber.com

Financial Feature

A New Means for Intergenerational Transfers Millards Chartered Professional Accountants

Josh Laporte

To extract value from corporations, shareholders have two avenues, dividends and capital gains. A distribution of cash or other assets from a corporation is a dividend taxable at marginal personal tax rates.

Capital gains occur where the shares of the corporation are sold. The capital gain is included in the shareholder’s taxable income, but only 50% of the gain is added to their taxable income. If the shares qualify, the shareholder can use their lifetime capital gains exemption (“LCGE”) to further reduce their tax liability.

For intergenerational transfers, shareholders of small businesses have limited options to achieve the transfer to their children or grandchildren. The shareholder has two options, the first being to sell their shares at fair market value to their children (creating a capital gain), which may shift a tax burden and heavy debt to their child. Secondly, the shareholder can freeze their value in the corporation and issue new growth shares to their child. The parent can then either sell their high value shares to their child over time or have the corporation repurchase them creating dividend income to the parent. Both options have downsides and fall short of the tax planning available if the shareholder were to sell the shares to an arm’s length party.

In an arm’s length sale, the purchaser can

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create a new corporation, acquire the shares of the operating company, then amalgamate the new corporation and the operating corporation into one. This achieves two main tax saving strategies, allowing the seller to access their LCGE thereby reducing their tax liability, and allowing the purchaser to hold the debt from the acquisition in the new corporation. The debt is serviced by the operations of the corporation and interest is written off.

of the legislation until January 1, 2022, but then reversing that decision on July 19th, 2021 noting that they would provide new legislation on November 1, 2021 to further clarify the new rules. This has left shareholders and tax consultants in limbo on how to effectively plan for intergenerational transfers. One could argue that as the legislation is in place, it can be interpreted as written, which offers significant tax loopholes to taxpayers.

Previously, if a child of a shareholder attempted the same transaction, the capital gain realized by the parent from the disposition of the shares would be converted into a deemed dividend greatly increasing the tax liability of the parent. Essentially, there is a bigger tax bill if the shareholder sells to a family member rather than a stranger.

The Department of Finance has offered some comments on how the legislation might be amended on November 1, 2021. In summary, they will likely not take issue where the child obtains control of the corporation and is actively involved in daily operations

Bill C-208 introduced changes to the Income Tax Act (“ITA”) to allow an intergenerational transfer with the use of a corporation. The new legislation is effective as of June 30, 2021. The change is meant to level the playing field between family members (specifically children) and arm’s length parties. The government did introduce some additional criteria that must but met to qualify the transaction,

We would strongly recommend that any bona-fide intergenerational transfers incorporate these new legislative changes.

Please consult with your tax advisor to ensure that you can take advantage of this change.

Despite it’s ambiguity, the new legislation provides an opportunity to lower your tax liability and setup the next generation for greater success.

For further information please do not hesitate to contact us at Millards at (519)759-3511 or visit us at www.millards.com

• The corporation being sold is a qualified small business corporation or qualified family farm property • The child acquiring the shares must be over the age of 17 and • The corporation acquiring the shares does not dispose of the acquired shares within 60 months of purchase In a bona-fide intergenerational transfer, these criteria can easily be obtained.

Unfortunately, the wording of the new legislation was left a bit vague in some areas and more narrow than expected in others. This results in legislation that may provide an avenue to strip value from a corporation, achieve capital gains treatment even without in a bona-fide transfer of a corporation to a child.

The Department of Finance has responded to this oversight by first delaying the application

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THANK YOU Golf Tournament What an amazing day!

We would like to extend a heartfelt “Thank you” to all of our generous sponsors and to everyone who joined us for the day. We hope you had a great time!

Our tournament wouldn’t happen without your support…

Shuttle Service Sponsor:

Competition Hole Prizes:

Congratulations to our Competition Hole winners:

DRIVERSEAT Brantford

Adidas Group, The Beauty Barn Spa, Emerson Climate Technologies Canada, Euro-Line Appliances (Smeg) Execulink Telecom, JiffyLube Brant/ Tiresnow, The Keg, Seventh Coffee Co., Strodes BBQ & Deli, Twin Valley Zoo, YNCU (Fairview).

Top Male Foursome: Score -20 (52) Alex Kew, Justin Wareham, Wes Caldwell, and Mitch Toth.

Golf Cart Sponsors: Fen Industrial Inc., InSitu Remediation Services Ltd., and Millards Chartered Professional Accountants.

Putting Contest Sponsor: RBC Commercial Banking Centre (Lynden Rd.)

Combo Sponsors (Green/Tee): City of Brantford, Cowan Insurance Group Ltd., Empire Communities – Brantford Communities Ltd., McNaughton Agency Inc. – The Cooperators, Oak House Benefits Inc., and Waterous, Holden, Amy, Hitchon LLP

Tee Sponsors: Alliance Security Systems, ARK Electric Ltd., Business Development Bank of Canada, CARSTAR Brantford, IDS Inc. – Integrated Digital Solutions, Lionhead Electric Ltd., R.L. Lancaster Construction Ltd., TD Commercial Banking

Green Sponsors: Gilbert-McEachern Electric Ltd. and StoneRidge Insurance Brokers

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September 2021

Donations made to our golfer goodie bags: Bialas Printing Ltd., Bunnell Hitchon Insurance Brokers Inc., City of Brantford, CG Print & Design, Seasons Brantford Retirement Community, St. Leonard’s Community Services, SC Johnson & Son, Tourism Brantford, Vaultra Self Storage Brantford.

Top Female Foursome: Score -10 (62) Cindy Hiscock, Donna Clements, Karen Barnett and Jean Hawke.

Top Mixed Foursome: Score -9 (63) Mike Froome, Andy Forcey, Amy Froome and Emma Forcey Top Mixed Foursome (2nd): Score -7 (65) Brad Staley, James Brown, Melissa Jarman and Jason Tangorra Closest to the Mayor: (15) Johanne Shillington Longest Drive (Ladies): (5) Lana Lang-Nagle Longest Drive (Men): (14) James Brown Closest to the Pin (Men): (7) Brock McEachern Closest to the Pin (Men): (11) Dave Gallagher Closest to the Pin (Ladies): (4) Cindy Hiscock Closest to the Pin (Ladies): (17) Melissa Jarman

This year a portion from the tournament registration and the proceeds from the Restaurant Raffle ticket sales, was donated in support of Brant-Brantford Crime Stoppers. We were pleased to present them with a cheque for $1500.00.

Restaurants who donated to the cause include: Big Smoke Burger Brantford, Devlins Country Bistro & Catering, DQ Brant, The Keg Steakhouse & Bar, Mercasa Little Italy Eatery, Myra’s Bar & Grill, Nine North (Viet-Thai Cuisine), The Olde School House Restaurant, Oriental Restaurant & Tavern, Sociable Kitchen & Tavern, Sweet Bakery and Wendy’s.

Closest to the Pin for all: (18) Ben Wilson Thank you also to Barry Forth, Matt Steckly and the amazing staff at Copetown Woods for helping us coordinate a great day for our members.

Golf Committee: Chair Paul Harding and Johanne Shillington and volunteer Lisa Marson.

Pictures courtesy of Paul Smith from Photohouse Studios.

Visit us at brantfordbrantchamber.com

Nominations are now open for the Chamber of Commerce Brantford-Brant Board of Directors Positions are available for the 2022-2024 term Contact David Prang at david@brcc.ca for more information

Visit us at brantfordbrantchamber.com

September 2021

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Member Profile Roots Marketing Brantford-Brant As owners of Intrigue Brantford, we joined the Brantford -Brant Chamber of Commerce in 2012 and are looking forward to our 10th anniversary next Spring. We would like to thank the Chamber for their support over the years and for this opportunity to share some exciting news about our company with fellow members.

IntrigueTV has gone through an evolutionary change and earlier this year left the folds of Intrigue Media to become part of a new brand called Roots Marketing. We are pleased to announce that IntrigueTV has been rebranded as RootsTV. There are no other changes to the video advertising platform at this time and it is now one of many products and services that we offer through DSJ Creative Marketing and Roots Marketing.

communities grow. Our team of professionals have over 100 years of combined sales and marketing experience that has enabled us to diversify our business beyond video advertising and fulfill on a full range of marketing products including website design, social media management and online advertising. Our solutions focus on three pillars of an integrated marketing plan, Lead Generation, Customer Engagement and Business Retention.

strengthen and grow your business. Call us today to start the conversation and schedule your complementary marketing review, no upfront investment is required other than a bit of your time.

Whether you have a successful, established business, need help finding customers or are just starting to invest in marketing a new venture, we can offer you effective and efficient marketing strategies to help

thecats@dsjcreativemarketing.com

Helping local businesses grow since 2012.

Dale and Stella Johnson Owners at RootsTV Brantford-Brant and DSJ Creative Marketing Partners at Roots Marketing www.rootsmarketing.ca 519-304-1662

The partner companies at Roots Marketing share a passion for supporting community groups, entrepreneurs and small businesses and we will continue working together to help our respective local business

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September 2021

Visit us at brantfordbrantchamber.com

MEMBER EXCLUSIVE PRICING At Brantford Toyota, Chamber of Commerce members receive:

HOME OF NO ADMIN FEE

Exclusive VIP Pricing on new and pre-owned vehicles No admin fee Great sales and service experiences!

Brantford Toyota donates a portion of all vehicle sales to Brantford community and mumerous charities included: The Shoebox Foundation, Brantford Food Bank, Boys & Girls Club of Brantford, Skip Burst and more (see our website for details).

Member of the 2020 Toyota President’s Club

5 Woodyatt Dr, Brantford ON N3R 7K1 519-752-1039 | brantfordtoyota.ca

Customized Insurance Coverage That Works for You

Cowan Insurance Group takes the time to understand your needs and build an integrated solution tailored to you.

Toll-Free: 1-800-563-0000

Business Insurance • Personal Insurance Group Benefits • Wealth Management

225 King George Road, Brantford, ON N3R 7N7

We care about what you care about cowangroup.ca

Visit us at brantfordbrantchamber.com

September 2021

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13th Annual Chamber Trade Show

Tues. Sept 28th Wed. Sept 29th Thurs. Sept 30th

The Chamber of Commerce Brantford Brant invites you to attend our 13th Annual Trade Show, held in partnership with the Best Western Brantford Hotel and Conference Centre.

Exhibitors and the general public will be expected to follow the applicable social distancing guidelines. We will be following local and provincial guidelines which will be updated regularly and revised as we get closer to the event.

Come and check out 30 Businesses and organizations participating as Exhibitors, each day. Discover and learn about a diverse group of businesses, all featuring unique resources, skills and services. Each of them eager to share and exchange information and ideas.

Chamber of Commerce Brantford • Brant

This event is open to the general public and free to attend. Feel free to bring a business colleague, client or friend. Don’t forget your business cards, it’s the networking event of the year! You can also join us virtually, details to follow!

If you are a Brantford Brant Chamber member and would like to participate as an exhibitor, please contact Leslie at leslie@brcc.ca or call (519) 753-2617 ext. # 21. Or register directly online: 13th Annual Chamber Trade Show: Sign Up Form (brantfordbrantchamber.com)

17th Annual Mayors’ Luncheon

Exclusive sponsor Enbridge Gas Inc. Mayor Davis MayorKevin Kevin Davis Mayor Kevin Davis City CityofofBrantford Brantford City of Brantford

Date: Thursday October 7th, 2021 Best Western Brantford Hotel & Conference Centre, 19 Holiday Drive, Brantford, ON We look forward to a presentation from Murray Costello, Director Southeast Region Operations. “The future of energy in Brantford and the County of Brant”. Followed by the Mayors’ vision for the coming year and discussion of current issues.

Registration and networking from 11:30 a.m. - 11:55 a.m.

Plated lunch served at 12:00 p.m. sharp.

MayorDavid David Bailey Mayor Bailey Mayor David Bailey Ticket Price: Members: $40.00 + HST. Non-Members: $50.00 + HST. County of of Brant County Brant County of Brant

Murray Costello ENBRIDGE

Register online at www.brantfordbrantchamber.com 22

September 2021

Visit us at brantfordbrantchamber.com

Partner with Bell for Fleet Management Solutions.

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Current as of March 10, 2021. Available with compatible devices within network coverage areas available from Bell Mobility. Subject to change without notice. (1) Based on a third-party score (Global Wireless Solutions OneScore™) calculated using wireless network testing in Canada against other national wireless networks of combined data, voice, reliability and network coverage. See bell.ca/network. (2) Based on total square km of coverage on the shared LTE network available from Bell vs. Rogers’ LTE network. See bell.ca/LTE for details.

Visit us at brantfordbrantchamber.com

September 2021

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County of Brant Small Business Reopening Support Programs As the Province of Ontario enters the various stages of reopening, the County of Brant is offering the following programs that promote and support safe interactions while allowing for business to be conducted and customers to be welcomed back.



Public Safety Community Improvement Plan (CIP)

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Temporary Patio Allowance Program

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Responsible, Safe Visitation is the Priority (RSVP) in Brant

For more information on these programs and to apply, contact the Brant Economic Development team today at invest@brant.ca

Brant Economic Development & Tourism QDEC @InvestinBrant | #BrantWorks | invest.brant.ca