FREDERICTON CHAMBER OF COMMERCE
Jeff Alpaugh and Emilee Boychuk’s company has made the cut to appear on CBC’s Dragons’ Den.
ADVOCACY UPDATES | THE BUZZ | NEW CHAMBER MEMBERS | CHAMBER EVENTS in-sight (definition) “an instance of apprehending the true nature of a thing, esp. through intuitive understanding “
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FREDERICTON CHAMBER OF COMMERCE
Contents Creative Direction and Graphic Design by Pete Stafford, Cambridge Pen & Design Publisher – Pete Stafford, Cambridge Pen & Design Printer – KKP Kwik Kopy Printing Project Manager and Advertising Consultant – Wendy Morrell Contributors – Keir Clark, Krista Ross, Morgan Peters, Christine Little, Janet Moser, Chad Sapieha, Natalie Sturgeon, Bob Brown, Samia Awad and Brigitte Gray FREDERICTON CHAMBER OF COMMERCE President – Keir Clark, firstname.lastname@example.org Chief Executive Officer – Krista Ross, email@example.com Policy and Research Manager – Morgan Peters, firstname.lastname@example.org Membership Development & Marketing Manager – Christine Little, email@example.com Event Manager – Tanya Senechal, firstname.lastname@example.org Operations and Communications Manager – Wendy Morrell, email@example.com Bookkeeper – Brianne Phillips, firstname.lastname@example.org Office Administrator – Monique Hong, email@example.com Succession Specialist – Layla Rahmeh, firstname.lastname@example.org Director - the Hive, Succession Connect, Business Immigrant Mentorship Program, Intercultural Business Incubator – Janet Moser, email@example.com
Succession Connect Program
Say Hello To Our Newest Chamber Members 6 Advocacy Update
Fredericton Clothier & Dragon’s Den
What’s Your Legacy
New Brunswick’s Debt Problem
Five things to consider when you’re considering selling your business
Canadian Chamber of Commerce Conference 14 Network for Success
Ten Ways to Build a Canada that Wins 16 Canada Business Network
The Chamber Buzz
All content, copyright 2017. All rights reserved. This publication may not be reproduced, all or in part without written consent from the Fredericton Chamber of Commerce. Every effort has been made to ensure the accuracy of all content in this publication, however the publisher nor the Fredericton Chamber of Commerce will be held responsible for omissions or errors. Please address all editiorial and advertising inquiries to the Fredericton Chamber of Commerce, 364 York Street, Suite 200, Fredericton, NB E3B 3P7, Canada. The Fredericton Chamber of Commerce is not held responsible for loss, damage or any other injury to unsolicited material (including but not limited to manuscripts, artwork, photographs, and advertisements). Unsolicited material must be included with selfaddressed, overnight-delivery return envelope, postage prepaid. The Fredericton Chamber of Commerce will not give, nor rent your name, mailing address, or other contact information to third parties.
Fredericton Chamber of Commerce
364 York Street, Suite 200 Fredericton, NB E3B 3P7 Tel: (506) 458-8006 firstname.lastname@example.org frederictonchamber.ca @fton_chamber facebook.com/frederictonchamber Fredericton Chamber of Commerce
Pete Stafford 506.472.4230 | Cell 506.292.5624 email@example.com | cambridgepen.com
Insight Winter 2017
A Message from the President
A Message from the CEO
Keir Clark, President
Krista Ross, CEO
s we come to the end of our chamber year, and welcome our new board members in June - it is a good time to show appreciation to the team of volunteers who participated on the chamber board and committees!
lthough it’s a little daunting, I’m excited to be serving the Fredericton Chamber of Commerce as the 2017- 2018 President. It’s a privilege I don’t take lightly. Special thanks to outgoing President Paul Simmonds for his leadership over the past year. Paul, along with several other extraordinarily accomplished business leaders now serving on our board of directors, are invaluable partners as we embark on another active year in 2017/2018.
This year is a special one for the Fredericton Chamber of Commerce. In September we will be hosting the Canadian Chamber of Commerce annual convention. Hosting this event is a feather in the cap of our chamber and our community as we showcase who we are and all we have to the 500+ delegates expected to come from across the country. It is the culmination of years of hard work in a competitive bidding process by a dedicated team. The Fredericton Chamber of Commerce is known across Canada as one of the most successful, innovative & wellrun chambers in the nation. Those accolades have been earned over the chamber’s long history by the dedicated professional staff who run things day in and day out. Krista Ross, CEO currently very capably leads that team. She is very ably supported by a great group. Their details are here: frederictonchamber.ca/contact - I encourage you to have a look. Membership and active participation in the chamber is something I believe most business owners, operators and supporting professionals would benefit from. Getting involved with the chamber buys you ACCESS, INFLUENCE and PROFILE. You get ACCESS to useful member services, to valuable events, to targeted marketing opportunities, to public officials and to other business owners. You get INFLUENCE in designing and crafting public policy through the extensive business advocacy work done by the chamber. You get PROFILE for your individual business or service but you also share in the collective profile that comes with being part of a world-class business-orientated organization in our city, province and nation. I look forward to seeing and working with you around the chamber in the coming year. Insight Summer 2017
First of all, a huge thank you and shout out to Paul Simmonds - Paul has been an excellent president of your chamber. He has represented you well, meeting with members, government officials as well as business and chamber leaders on your behalf from all parts of Canada. He has also chaired our board in a way that engaged the board in participating and contributing… all this while continuing to run his own successful business - Robert Simmonds Clothing. On your behalf, I thank Paul for the countless hours that he has contributed to your chamber since he joined the board in 2012 - and, he is not off the hook yet - after the AGM in June - he will serve a final year as past president. A huge thanks also to all members who served on committees this year as well as those who served on the board this year - we had a very engaged group who contributed and represented your interests and concerns. Another huge thank you to Stephen Hill who join the board in 2011 and is just finishing his final year on the board in his outgoing position as past president. What a huge commitment Stephen has made to the betterment of the business community - I thank him on your behalf! And, of course, thanks to the other outgoing board members who have served two years on the board - Victoria Andrews, Dave Watt, Jason LeJeune, Bronwyn Mulherin and Roger Bannister - as well as Charit Khatri who served four years - thanks to all for a job well done! Appreciation is also owed to our incoming directors, those who are heading into their second year as directors as well as those who have positions on the executive your dedication is incredibly valuable. By the way, if this type of involvement interests you - please get in touch - we are always looking for people interested in participating in our committees and activities! As we jump into our new chamber year - we are looking forward to having Keir Clark as our president - Keir joined the board in 2012 and has served as co-chair of practically every committee during his time with us - we know Keir will be an excellent representative of business in the coming year.
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Succession Connect Program
by Janet Moser
tâ€™s been a busy few months for Succession Connect. After launching in November, we were privileged to have our accomplishments acknowledged by the community, as well as leaders in research and policymaking. In May, our team attended the Kira Awards as finalists for the Innovation Champion award. We were honoured to be recognized and celebrated alongside innovators across all sectors and industries in New Brunswick. With the support of our community partners, sponsors, and network of dedicated individuals, we then garnered the attention of The Conference Board of Canada. We were featured in their most recent report, Entrepreneur and Investor Immigration: Creating Jobs and Growth. We accept this public acknowledgement with pride, as we continue to work towards addressing one of New Brunswickâ€™s most recognizable challenges: the future of businesses and our aging demographic. Going forward, Succession Connect will continue to work with New Canadian investors and assist them in purchasing turn-key businesses within the region. Our work will enable these businesses to continue with no loss of jobs and without interruptions to the income generated within our local and provincial economies.
Insight Summer 2017
SAY HELLO TO OUR NEWEST CHAMBER MEMBERS A Message from the CEO continued... Thanks also to the committees who operated this year - more than 100 volunteers participated in the chamber committee structure representing your views and concerns and working on your behalf - thanks to all of them!
From the staff team perspective - a few updates to share - in the late fall, we hired two new employees Monique Hong and Layla Rahmeh to work with our new Succession Connect program! They’ve been doing great work out of our satellite office in Knowledge Park and work closely under the leadership of Janet Moser, director of our Fredericton Intercultural Business Services Centre she does a great job managing our three newcomer programs - BIMP, The Hive and Succession Connect. The rest of the chamber team, made up of Operations and Communications Manager, Wendy Morrell, Membership Development and Marketing Manager, Christine Little, Policy and Research Manager, Morgan Peters, Bookkeeper, Brianne Phillips and myself continue to work on your behalf and welcome your input if you have ideas to share. A shout out to Stacey Murray who was our event manager for five years and left in March to pursue her own wedding planning and event management business full time - we wish you the best of success, Stacey! You did a great job for the chamber - your dedication and hard work were greatly appreciated! Join us in welcoming Tanya Senechal to the position of Event Manager - we are excited to have her on board and looking forward to working with her in the years to come! Thanks to Priority Personnel for their work in ‘finding us the perfect fit’!! Until our next edition of Insight Magazine, wishing you success in your business and hoping to see you in attendance at an upcoming chamber event! The Applying the Seven Dimensions of Wellness to the Workplace article that appeared in the Spring Issue of Insight was written by Lauren Rogers, Manager of Fitness and Wellness at URec.
Insight Summer 2017
Chris Tompkins Design 148 George Street, Apt 3 Fredericton, NB E3B 1J3 Tel: (506) 238-1184 firstname.lastname@example.org christompkinsdesign.com Main Contact: Chris Tompkins
Hawkeye Digital Imaging Services 14 Munner Road Richibucto Road, NB E3A 9M9 email@example.com hdis.ca Main Contact: Andrew Deakin
Uncle Pete’s Diner 1600 Woodstock Road Fredericton, NB E3C 1P3 Tel: (506) 450-1112 firstname.lastname@example.org Main Contact: Peter Lavigne
Hertz Canada 659 Queen Street Fredericton, NB E3B 1C3 Tel: (506) 359-3444 email@example.com hertz.com Main Contact: Rosemond MacKnight
Cornerstone Worship Centre 350 Route 10 Highway Richibucto Road, NB E3A 7E1 Tel: (506) 453-9464 firstname.lastname@example.org cornerstoneworshipcentre.com Main Contact: Esther Rennick
Whitehead Miles & Associates 111 Main Street Fredericton, NB E3A 1C6 Tel: (506) 458-9077 email@example.com whiteheadmiles.com Main Contact: Aleacia Bennett-LeBlanc
Blue Ribbon Grooming 176 Marlow Road Hanwell, NB E3E 1M6 Tel: (506) 454-2150 firstname.lastname@example.org Main Contact: Yvette Goguen
Lang House Bed and Breakfast 58 Front Street Village of Gagetown, NB E5M 1A1 Tel: (506) 488-1808 MarianLanghus@gmail.com langhousebandb.com Main Contact: Marian Langhus
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Advocacy Update by Morgan Peters
our Fredericton Chamber of Commerce has been busy advocating on your behalf since the last edition of Insight Magazine. Some of the the issues we have been working on include: WorkSafeNB With statements from WorkSafeNB acting President and CEO Tim Peterson indicating that rate hikes in 2018 could exceed the massive 33% jump in 2017, we have significantly ramped up our advocacy efforts over the past few months. As this issue is a province-wide concern for employers, we have been working with groups from across New Brunswick, particularly the chambers of commerce in Moncton and Saint John. Our three chambers wrote a letter to government, asking that the government: • Require WorkSafeNB to provide full and transparent reasons for the rapid spike in both monthly caseloads and lost-time claims cash payments between January, 2016 and January, 2017. • Enact legislative and policy changes recommended by the WorkSafeNB board of directors this spring to
restore balance to WorkSafeNB and reduce rate increases. • Suggest a value-for-money audit by the Auditor General to shed light on systemic problems at WorkSafeNB and the Workers Compensation Appeals Tribunal that have led to this unsustainable situation. Employers who fund 100 per cent of WorkSafeNB need transparency and accountability In March, we had previously written to Donald Arseneault, Minister of Post-Secondary Education, Training and Labour, requesting the legislative changes referred to above be enacted in the Spring 2017 session of the NB legislature. We also launched a province-wide letterwriting campaign, asking employers to write to their local MLA, the premier, the minister and WorkSafeNB’s acting president and CEO. The related news release can be found here www.frederictonchamber.ca/ communications/media/mediareleases-2017. Thank you to all of our members that have participated in your campaign, the provincial government has since announced the following actions.
Federal Budget Finance Minister Bill Morneau introduced the 2017 federal government budget on 22 March 2017. We labeled the document as a ‘wait and see’ budget, with several initiatives announced (infrastructure, immigration, venture capital, skills training) that could have a positive impact on our region, depending on how funds are allocated. With almost no new spending introduced, the document in large part further defined money allocated in the 2016 budget (or put new names on the same funds). Direct cost increases to employers were minimal except a $0.05 increase in EI premiums (which we hope is meant to fund some of the skills training initiatives). Our news release is on our website here www.frederictonchamber.ca/ communications/media/mediareleases-2017. February Holiday In April, the provincial government announced that beginning in February 2018, a new statutory holiday will be introduced in the province. We expressed our concern to FInance Minister Cathy Rogers about the cumulative effects of added costs to business in the recent past. We also requested that her department provide the economic impact analysis used to make the decision, which has not yet been received. The letter can be found here - www.frederictonchamber.ca/ advocacy/letters. National Energy Board Modernization Process In partnership with the Canadian Chamber of Commerce, we hosted a roundtable discussion as part of an ongoing review of the National Energy Board’s structure, role and mandate under the National Energy Board Act on March 16, 2017. The Fredericton Chamber was one of only five chambers from across the country selected to host one of these sessions. The CCC reached out to chambers in communities that were not selected by the NEB as part of their roadshow. More details can be found here - www.neb-modernization.ca/nebwelcome. To get more information or discuss other issues, please contact Policy & Research Manager, Morgan Peters at advocacy@ frederictonchamber.ca or (506) 451-9742. Insight Summer 2017
Scenario 1: Landing the Big Fish You’re eagerly awaiting a call from someone who could become your company’s biggest client, but in the meantime you need to keep servicing your current accounts. You have a meeting in the morning and a flight out of town to visit another client in the afternoon, and you’re worried your busy schedule might make you miss that key call. Or at least you would be if you didn’t have Rogers Unison. With Rogers Unison, your mobile phone does double duty as a desk phone. When that big fish finally dials your company’s main number, he or she will be greeted by a professional-sounding auto attendant who will instantly route the call to your mobile. Your client won’t even know you’re not in the office. But what if you’re unavailable when the call finally comes? No problem. Special “hunt groups” that you create will automatically direct the call to your partners and team members – either in priority sequence or all at once until someone picks up. Your game-changing client won’t be stuck sitting on hold, and they won’t need to leave a message.
Hang up your desk phone for good with Rogers Unison How to save money and improve your communication processes by going fully mobile by Chad Sapieha, Rogers
he desk phone was once the artery through which the lifeblood of small businesses flowed. It was how prospective and existing customers contacted you and the means by which your teams stayed in touch and on top of things.
That’s still the case for some companies. But more and more small businesses have staff who spend most of their time outside the office, and now it’s their mobile phone that keeps them informed and connected. Thanks to Rogers UnisonTM – a new service that transfers many of the features and advantages of a traditional desk phone to the one you carry in your pocket – these companies may be able to hang up their office phones for good. Here are a couple of examples that illustrate how Rogers Unison can improve your communication processes and even save you money.
Insight Summer 2017
Scenario 2: Keeping Your Sales Team in the Field Your sales team is of greater use knocking on doors and finding business than sitting in an office, but a desk phone is just one more reason for them to remain planted in their seats rather than heading out on sales calls. Companies with Rogers Unison sever the cord tying them to the office by giving their team’s mobile phones all the most important features of a desk phone. Your staff won’t have to download any special apps or use up data to make calls to make it work, and they won’t need to set up call forwarding when they leave the office. Whenever a prospect calls the main number and dials an extension, the appropriate team member’s mobile will ring instantly. There are other advantages, too. Your team will have easier access to office voicemail and can even receive messages as audio files via email, should they choose. And if you’re trying to expand in a city with a different area code, you can secure a local number that will ring directly to your sales teams’ mobiles, letting them win business from almost anywhere – in another town or even another province – while creating the impression they might be in a building just down the street. All this, and you’ll save money, too – up to 40%*. With Rogers Unison there are no desk phones to buy or rent and no need to pay for multiple landlines. All you need to do is replace your desk phone and add Rogers Unison to an existing Share Everything™ for business plan. It could hardly be easier. *Savings apply to Share Everything for business plan customers and are based on comparing the Rogers Unison monthly fee against the basic business line monthly fee of other major service providers across Canada. Service subject to certain important 911 emergency callback limitations. Standard wireless usage (including but not limited to airtime, long distance, roaming and pay-per-use services) charges apply accordingly. Visit rogers.com/terms for full terms and conditions.
advice you could only get from someone who has personally walked that path. It’s things like that, that make me love this city and this province.” The television show has brought back legendary Dragon Arlene Dickenson. Alpaugh and Boychuk think this is good sign as Dickenson is a strong supporter of The Troops and Jeff is a currently serving Infantry Captain at CAB Gagetown’s Infantry School.
Fredericton Clothier hopes to continue trend of NB businesses being successful in CBC’s The Dragons Den. by Nathalie Sturgeon, Dangerous Consultant
itting above a popular restaurant in downtown Fredericton is a business designed dangerously for its spirited customers. Jeff Alpaugh Custom was created by the idea that clothing should not only fit right, but also be whatever you want it to be. Jeff Alpaugh and Emilee Boychuk are the creators of this custom shirt business. Alpaugh wanted to bring something new to the small New Brunswick city. The concept that you can get most things custom-made gave Alpaugh the idea of a lifetime; this wasn’t just about custom clothing, but rather clothing that is made for you, by you. The shirts are designed to the exact specifications of the buyer. The concept and clothing has gotten a lot of traction in Fredericton, but Alpaugh wants to make the ‘The World’s Most Dangerous Dress Shirts’ a global brand. But what is the next logical step for a business that wants to shatter the glass ceiling? The company has made the cut to appear on CBC’s Dragons’ Den. It’s a business-oriented show that partners
local or small businesses with successful moguls like Jim Treliving, who owns many businesses including the popular restaurant franchise Boston Pizza, and a chain of automotive service centres known as Mr. Lube. Other moguls include: Michael Wekerle, Michele Romanow, Manjit Minhas and Joe Mimran. Alpaugh has only a few minutes to convince the Dragons that his company is worth their investment. But as he thinks about his audition on April 29th, he does so without any hesitation. “What happens if you’re not successful in the Den? Business as usual,” he said. “I have noticed that most entrepreneurs from New Brunswick who have been on the show have been incredibly successful.” They usually close great deals and get great support and guidance from The Dragons. There almost seems to be a club of New Brunswick entrepreneurs who have appeared on the show and all want to help out others. I received phone calls from Matt White, founder of Sussex Beard Oil, and Mike Holland, founder of ‘The Resourceful Redneck.’ Both of them called me! And they both gave me great
But what if he is successful in the Den? The dream of an eccentric entrepreneur will grow to include a new top-ofthe-line website and a national tour. Fredericton’s small community will be represented nationally by Alpaugh’s business and the exposure will have a lasting impression. Fredericton is known as the start-up capital, and Jeff Alpaugh Custom wants to take that one step further. Alpaugh wants to take his business on the road. He wants a globally-recognized brand that sits in the homes of many men, women and children. For Alpaugh, the game has changed and the Den will be his next match. His victory marks a big step towards a globally dangerous business. The episode will air sometime in the fall. Alpaugh and Boychuk will be given two weeks notice by the producers before the episode airs. Alpaugh is very active on social media and will announce the airdate immediately once he is told. Jeff Alpaugh Custom will be hosting a viewing party at The King Street Alehouse the day the episode airs. It should be a great party and social event since Dangerous Dress Shirts naturally attract “Characters.”
Insight Summer 2017
Insight Summer 2017
Whatâ€™s Your Legacy... If NOW is the right time for YOU to make a difference in your community, we have created the opportunity for you to take action and begin what will be YOUR legacy. Non-profit organizations rely on strong leadership to drive change and achieve their missions. Expertise in human resources, technology, finance, marketing, real estate, law and many others are needed on the boards of our non-profit organizations to help them build and sustain their capacity to successfully achieve their mission. Companies that support the volunteering efforts of their employees experience lower staff turnover rates, stronger relationships with staff, improved corporate image, leadership development, increased productivity and morale. Professionals who volunteer on boards have the opportunity to expand their work portfolio, increase networking opportunities and are seen as leaders in the community. Research has shown that people who volunteer tend to live longer, have lower rates of depression, enjoy better physical health, have more friends and are more self confident. Connect with your community and get involved. Complete the form at - Social Innovation Fredericton.com, under the Whatâ€™s Your Legacy tab We will connect you with a caring organization in our community that is looking for your skills. Questions? Info@SocialInnovationFredericton.com
Insight Summer 2017
New Brunswick’s Debt Problem by Krista Ross
he 2017-18 provincial budget was released earlier this year and there are some major red flags for the business community. While the Province’s operating deficit may be declining, the bigger concern for New Brunswickers and our member businesses is our collective debt exceeding $14 billion. The government’s revised total debt for the end of 2017 was $670 million higher than their estimate and the 2018 estimate is to add another $362 million. Considering that New Brunswick pays nearly $2 million per day in interest payments, this figure is the major concern for the provincial finances. Despite a provincial debt that amounts to nearly $20,000 for every person in the province, Finance Minister Cathy Rogers’ budget speech stated that the government is not introducing new revenue measures or expenditure restraint in the 2017-18 budget. We were quite surprised that the government is not attempting to further restrain spending in 2017-18 - it was broadly understood that the Strategic Program Review would require a sustained effort on restraint over multiple years and multiple mandates. Of course, we didn’t want to see new taxes or other costs to business as our members are experiencing tax fatigue and the costs of increases in recent budgets continue to accumulate and act as a drag on the economy. Insight Summer 2017
The Fredericton chamber has recommended that the government do a comprehensive tax policy review to ensure that the province is following jurisdictional best practices and that New Brunswick’s tax structure is aligned with and an extension of the Province’s economic development policy. More than anything, individuals and businesses want to know that their tax dollars are being put to good use. After a two-year Strategic Program Review and a steady stream of tax and cost increases over that time, we would have expected some progress to be made on the debt. There are individual measures in this budget that have potential to have a positive impact and are smart investments by the government. Increased funding for population growth measures is very positive, particularly in the long-term. Economic immigration and retaining international students will be key to fulfilling our population and skilled labour needs in the future. Similarly, increasing the tourism budget will pay direct dividends in all parts of the province. We see the model of Fredericton’s Downtown Community Health Centre as an efficient and effective way to deliver health care hopefully it can be replicated throughout New Brunswick. In our 2017-18 pre-budget submission, we recommended that the government invest in education at all levels as a longterm growth strategy. Post-secondary educational institutions are not only credential-granting bodies - they are also the hub of entrepreneurship, innovation and skills-acquisition in our communities; they are the centrepiece of our 21st century economy and one of the safer investments a government can make in terms of return on taxpayer investment. Enhancing access and participation in post-secondary education is therefore a concrete return on investment for the province of New Brunswick. Not only will it increase the number of individuals in the skilled workforce, but it also has significant financial benefits in its own right. In order for New Brunswick and its businesses to take advantage of potential
opportunities, job creation and upskilling must be a singular strategy, with roots in our post-secondary education system. New Brunswick is already competing on a global stage in the knowledge sector and has room to grow with the right investments in infrastructure and skills training. We appreciate that the government has a difficult task of reducing the debt in the short term while investing in longterm growth solutions. It has to make the right decisions on where to put limited taxpayer funds, but therefore must be willing to make tough decisions in other areas. Without getting the debt reduced and ultimately eliminated, no investment will matter. The business community is looking to government to provide leadership and sustainable solutions. We all are.
TESS 95 Summerhill Row Fredericton, NB E3G 0E8 Tel: (506) 206-3556 email@example.com globaltess.com Main Contact: Pranesh Mudaliar J A Towing & Recovery 1875 Route 640 Hanwell, NB E3C 2A7 Tel: (506) 458-8500 firstname.lastname@example.org Main Contact: John Jardine Wasted Fashions 530 Queen Street Fredericton, NB E3B 1B9 Tel: (506) 470-1047 email@example.com wastedfashion.com Main Contact: Christin Fowler
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Five things to consider when you’re considering selling your business
Submitted by: Bob Brown, Senior Advisor, Confederation M&A
elling a business is not an easy decision and often comes with great thought and consideration. If you are considering selling a business, here is some food for thought. 1. Timing. Do not wait until your business is on the decline to sell. You are more likely to attract buyers when your business is growing. If the business is growing profitably, maybe it’s time to sell. This enables you to maximize the price for your business and will likely reduce the time your business is on the market. 2. Don’t accept the first cheque through the door. Viable businesses with strong financial history will usually be of interest to more than one buyer. If the market is strong, interest rates are quite often low and there is an abundance of capital available, making it easier for buyers to access financing. 3. Buyers need information. You need to be fully accountable and transparent by providing detailed financial documentation and a proven revenue stream. A potential buyer wants to see if there is opportunity for growth.
4. Prepare your business to sell. There are many non-business reasons for selling a business. These can include retirement of an owner or key manager, health problems, divorce, a desire to try something new, a lack of heirs, or even a death of an owner. It is therefore very important that financial information for the last three to five years reflect the true state of the business. 5. Be open minded. An M&A advisor can create increased of value for you by helping to analyze how to make your business more valuable at the time of sale. Don’t forget to start planning early – at least two years before you plan to exit your business! An M&A advisor can provide the experience and knowledge to ensure the best possible outcome for you and your business. Bob Brown is a Senior Consultant with Confederation M&A, an Atlantic Canadianbased mergers and acquisitions firm. Visit their website: confederationgroup.ca
Insight Summer 2017
Canadian Chamber of Commerce Conference by Morgan Peters
reparations are now in full swing as Fredericton gets set to host the Canadian Chamber of Commerce annual general meeting and conference in September. The event has been more than three years in the making since beginning the bid process in 2014. After being awarded the conference in July 2015, the chamber team and volunteer organizing committee have been gearing up to host the Canadian business community for the largest event on the chamber calendar, with 500+ delegates attending. There are still sponsorship opportunities available to reach this audience - contact the Fredericton chamber office at firstname.lastname@example.org or (506) 458-8006 for more information. Each year, the Chamber of Commerce Executives of Canada (“CCEC”) hosts its annual conference immediately preceding the CCC meeting. In total, business leaders and chamber executives from across the country will be in Fredericton for six days. This is great exposure for our city and our chamber, but it will also bring a large, tangible benefit. Conferences are big business. On average, one delegate of a national conference provides $324 of economic impact for everyday that they are in the city, based on the City’s Meetings Matter team’s ongoing analysis. This represents money going to our hotels, restaurants, local shops, taxis, tourist attractions and more. Even better, most of this economic impact is ‘new’ money coming in from outside of New Brunswick, which the province desperately needs and gives us the opportunity to showcase our beautiful city to the rest of country! The Canadian chamber estimates that the economic impact on Fredericton over the course of the six days will be nearly $1 million. Insight Summer 2017
If you see any delegates out and about in the city, be sure to say “Hi” and welcome them to Fredericton! At the AGM, local chambers get plugged into the latest developments, trends and issues that are important to the Canadian business community and develop solutions that will break down the barriers that are holding Canadian businesses back, setting our policy agenda for the upcoming year. The central vehicle for setting policy are the resolution debates. Chambers from across the country have the opportunity to submit a policy resolution and delegates vote on whether it is an issue that the national chamber should take on. In 2016, we co-sponsored a resolution that was passed regarding funding for small National Airport System airports such as Fredericton’s. We encourage all of our members to suggest potential policy resolutions for future meetings. All resolutions must meet the following criteria: 1. The resolution deals with an issue relevant to Canadian business that is within federal jurisdiction and is of national significance. 2. The issue is current, timely and requires action. 3. The resolution is complete, detailed and supported by factual information. 4. The resolution does not align one sector, industry or region of Canada against another. If you have a policy idea that fits these criteria, please contact Policy & Research Manager, Morgan Peters at advocacy@ frederictonchamber.ca or (506) 451-9742.
If you really want to ramp up your marketing efforts, encourage your employees to attend the events as well. Employees, especially those on commission, should be working the room at all networking opportunities. Service clubs are also great networks to tap into, especially groups like Rotary and local executive groups that meet with the specific purpose of exchanging business leads. These groups are a golden opportunity to create long-term customers. Think about your chamber of commerce membership fees or time commitments at a service club as an investment, not a cost.
Network for Success by Doug Daley, Kiers Marketing
ne of the best ways to meet potential new customers is through networking. Think about it. You are at an event in a room full of people just like you. Everybody is looking to do business. Networking opportunities are everywhere, you just have to find them. What is the best way to network? Join a service club or a business group like a merchants’ association, or better yet, join your chamber of commerce. Fredericton Chamber of Commerce has over 950 businesses members. Networking opportunities are the number one reason that businesses join any chamber of commerce. The Fredericton chamber has at least two networking functions a month and hosts numerous larger events, all attended by business people from all areas of business. Smaller chambers are just as good, any network is a good network. Is there a better place to meet potential customers?
Keep these five benefits of networking in mind as you venture out. 1. Opportunities Whether it’s a referral, partnership offer, or request for your service or product, it is important to be ready to seize opportunities when they come along. 2. Connections Remember, you are not just gaining exposure to the people in the room; you are building connections with their network too. 3. Increased confidence By regularly networking, and pushing yourself and your staff to talk to people you don’t know, your confidence will increase. 4. Raising your profile Being visible and getting noticed is a big benefit of networking. By regularly attending business and social events, people will begin to recognize you. 5. Friendships Lastly, this one is more personal-related rather than business-related, but is a big benefit. Many friendships form as a result of networking because you are like-minded business people that want to grow your businesses. So grab your business cards and go meet some new people. It can only be good for business.
Smart Skin Technologies 201-527 Queen Street Fredericton, NB E3B 1B8 Tel: (506) 206-8778 email@example.com smartskintech.com Main Contact: Kumaran Thillainadarajah Green Nexxus (E9 Group Inc.) 120 Carleton Street Fredericton, NB E3B 3T4 Tel: (506) 461-3200 firstname.lastname@example.org Main Contact: Ric Cuthbertson Caribbean Flavas 123 York Street Fredericton, NB E3B 3N6 Tel: (506) 459-1230 email@example.com caribbeanflavas.ca Main Contact: Naz Houlie’s Hometown Pub 336 Richibucto Road, Route 10 Fredericton, NB E3A 7E1 Tel: (506) 457-1780 firstname.lastname@example.org Main Contact: Wayne Hallihan Square Thunder! 415 Whittaker Road Rusagonis, NB E3B 7X1 Tel: (506) 476-9515 email@example.com squarethunder.com Main Contact: Aaron Cushing PROVIS - Atlantic Canada Economic Information Observatory Universite de Moncton, Campus de Shippagan 218 Boul. J D Gauthier Shippagan, NB E8S 1P6 Tel: (506) 335-3400 ext. 3447 firstname.lastname@example.org provis.umcs.ca Main Contact: Dr. Monica Mallowan Continues on page 16
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SAY HELLO TO OUR NEWEST CHAMBER MEMBERS Cupola Enterprise c/o The Hive 50 Knowledge Park Drive, Suite 120 Fredericton, NB E3C 0J1 email@example.com Contact: Mojgan Malmirzadeh SomaDetect Inc. 323 Connaught Street, Suite #204 Fredericton, NB E3B 2B5 Tel: (418) 570-2197 firstname.lastname@example.org Main Contact: Bethany Deshpande Les Productions Fusion Productions 47 Bliss-Noiles Street Dieppe, NB E1A 0W7 Tel: (506) 850-3790 email@example.com lesproductionsfusion.com Main Contact: Matt LeBlanc
Wildwood Tree Services 379 Edinburgh Street Fredericton, NB E3B 2E2 Tel: (506) 292-8899 firstname.lastname@example.org wildwoodtreeservices.com Main Contact: Dylan Stuart Travel Only - Melanie Corey 230 Marlborough Drive Fredericton, NB E3B 0B2
Tel: (506) 444-9800 email@example.com firstname.lastname@example.org Main Contact: Melanie Corey Adventure Pack 218 St. John Street Fredericton, NB E3B 4M2 Tel: (506) 232-5180 email@example.com Main Contact: Cameron McNeil TICAD Inspection Services Ltd. 27 Birchwood Crescent New Maryland, NB E3C 1C9 Tel: (506) 457-8223 firstname.lastname@example.org ticad.ca Main Contact: Michael Gallant Yank Sports International Inc. 165 Kings College Road Fredericton, NB E3B 2E6 Tel: (506) 478-8072 email@example.com yankysports.com Main Contact: Ryan Jacobson Ace Venture Inc. (The Cultural Market) 28 Saunders Street, Ste 131 Fredericton, NB E3B 1N1 Tel: (506) 457-1177
firstname.lastname@example.org theculturalmarket.ca Main Contact: Dan Taylor Dr. Janice E Wilson - Prosthodontics 77 Westmorland Street, Suite 420 Fredericton, NB E3B 6Z3 Tel: (506) 452-7695 drjanicewilsonprosthodontics.com Main Contact: Dr. Janice E Wilson St. Mary’s Entertainment Centre 185 Gabriel Street Fredericton, NB E3A 5V9 Tel: (506) 462-9300 email@example.com stmec.com Main contact: Andrea Smith The Back 6 Inc. 331 Golf Club Road Fredericton, NB E3B 5Z6 Tel: (506) 449-5400 firstname.lastname@example.org Main Contact: Adam Atkinson Brookside Dental 280 Main Street, Unit 3 Fredericton, NB E3A 1C9 Tel: (506) 452-1985 email@example.com brooksidedental.ca Main Contact: Brianne Blacquier
CHAMBER BLOG Do you follow the chamber’s blog? It’s updated regularly so check it out frederictonchamber.ca/ communications/chamber-blog
We Want You! Share your expertise, submit an article, what would you like to see? firstname.lastname@example.org
Insight Summer 2017
Government of Canada
Gouvernement du Canada
Get Your Business
Going and Growing
Canada Business Network: Only a Click or a Call Away by Samia Awad and Brigitte Gray
he Canada Business Network has been in the business of supporting entrepreneurs across Canada for over 20 years. This federal government service provides Canadians with the resources and information they need to help businesses start, grow and prosper. In New Brunswick, Canada Business is the province’s one-stop shop for entrepreneurs in all stages of growth. The Canada Business team streamlines the complexity of navigating multi-level government programs, regulations, and services; consolidates business information; and, provides entrepreneurs with planning tools, market research and strategic business information to help them make well informed decisions all in one convenient service/location. Services are free, confidential, and bilingual. “The Canada Business team are truly the experts in providing real deciphered data that is not only usable but also understandable by new or existing entrepreneurs. The type of assistance delivered by the team is an essential part of business planning to analyze any potential or occurring business problems, expansions or opportunities,” says Michel Gallant, a Project Analyst at CBDC Westmorland Albert. Experienced business information officers and business development officers specialize in finding information on financing, taxation, permits, licenses, regulations, government programs and services, intellectual property, and much more.
Canada Business has access to a collection of specialized databases that provide the latest market trends, research, business intelligence and planning data. A variety of reports are produced to meet clients’ individual needs, including industry profiles, demographic information, and business directory search results, just to name a few. “Canada Business is an excellent resource used by my entire team of Business Development Executives to provide pertinent information to our SMEs in a timely and professional manner. From tax responsibilities to import and export laws, to sample business plans and market development information, we rely on the team as our comprehensive source of a vast array of information. The valuable services offered to new and expanding businesses with fast response times is without a doubt an asset to our Province,” says Lisa LePage, Regional Director at Opportunities NB. As part of the Atlantic Growth Strategy and its focus on stimulating the Atlantic region’s economy, Canada Business Atlantic supports small and medium enterprises, exporters and stakeholders with international market intelligence. “SMEs and government agencies are increasingly seeking market research to better understand the global business environment in a time of rapid change and increased globalization. Market research and business intelligence are key components to helping businesses gain a competitive edge and assisting with sound decision making,” says Brigitte
Gray, Manager of Canada Business Atlantic Region. In addition to providing Canadian data and reports to clients and stakeholders, Canada Business supplies international data to investigate the growth potential of various industry sectors/products, study industry and consumer trends, and compare country markets to help identify potential export opportunities. Reports are available for sectors such as biosciences, aquaculture, renewable energy, fisheries, agriculture, forestry, and agrifood, to name a few. Canada Business in Atlantic Canada… • provides business information to more than 12,000 clients each year • had over 160,000 unique Web visits from Atlantic Canada in 2016 • leads Guest Advisory Programs with a team of volunteer business experts • distributes bi-monthly regional newsletters to over 5,000 subscribers • publishes various industry guides, social media blogs, regional directories of business service providers • has a network of partnerships with economic development groups and other federal/provincial stakeholders Contact the Canada Business team for answers to your business-related questions, and for in-depth presentations on services. 157 Water Street, Campbellton, NB E3N 3L3 email@example.com canadabusiness.ca 1 888-576-4444 TTY: 1 800-457-8466 Insight Summer 2017
Here are some of the savings the Fredericton Chamber of Commerce helps you and your employees to save on costs and encourage local shopping. For the complete list of savings, check out http://business.frederictonchamber.ca/marketspace
Bowman Pharmasave Receive a 10% discount on all front store purchases to members and 20% discount on all front store purchases if you have active prescriptions at this location.
Expedia Cruise Ship Centres Fredericton Book a cruise through us and receive a $25 on board credit on a 7 night sailing in a Balcony stateroom.
ET Mechanical Ltd. Receive 10% off all products and services to chamber members. Not valid with any other offer.
Hotchkiss Home Furnishings Receive a 10% discount on all furniture, mattresses and decor (can’t be combined with any other offer. Appliances not included.)
Jensen’s Powertrain Receive a 10% discount on parts and labour (cannot be combined with other offers).
Brookside Wellness Centre Sign up for the 8 week Mindfulness program, and receive 50$ off the regular price.
CloudLinx Hosted Services Inc. Free 2 week trial of our services.
Receive a 10% discount on your purchase. (not valid with any other promotions).
Flow Cleaning Services Chamber Members receive a very special rate of $20/hr for their first cleaning (minimum 3 hrs). A great way to try us out! Feel what it’s like to come home at the end of a busy day to a home that’s fresh and sparkling clean ~ top to bottom! Call or text 506-470-3561 or email firstname.lastname@example.org
Instant Imprints Fredericton Instant Imprints Fredericton your complete, one stop branding solutions provider, is pleased to offer FREE DIGITIZING of your company logo for embroidery. A value of $75 for a standard left chest embroidery, No minimums on how many items you wish to have done. We do singles. Business Apparel, Custom T-shirts, Signs & banners, Vehicles & windows, wide format, promotional products, print, business cards / brochures / posters, document services, team & school wear.
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1. Our Business After Hours in February was hosted by Investorâ€™s Group. 2. The February Business Over Breakfast event was hosted by Capital FM / The Fox / Country KHJ
3. The February Lunch & Learn Webinar Series - Technology tools for your business was hosted by Robin Veinotte of Rogers. 4. Our March Business After Hours was hosted by Grimross Brewing Corporation 5. The March Business Over Breakfast event was hosted by Jump+ at the Regent Mall.
6. The Lunch & Learn Webinar for March was hosted by Doug Daley of Kiers Marketing and the topic was Lunch & Learn Webinar Series - Ten easy steps to improve the ROI at your next Trade Show
7. The Chamber hosted Dawn DesJardins, VP, Chief Economist for the Royal Bank, at The Impact of Trump Administration on the Canadian Economy and Investment in Canada event.
8. The April Business After Hours was hosted by Holiday Inn Express & Suites 9. The Annual Chamber Curling Funspiel was held at the Capital Winter Club, what a great day of curling and networking. 10. The Tri-City Business Connection was held in April at the Fredericton Convention Centre. 11. Our Business Over Breakfast in April was hosted by Kelly A Richard Bookkeeping Services
12. The Lunch & Learn Webinar for April was hosted by Jennifer Kikkert of Symplicity Organizational Designs and the topic was Performance Excellence: The Secret of HighPerforming Organizations
Insight Summer 2017
Published on May 26, 2017