The Business Advocate - October 2023

Supply chain woes to get better, says Lindsay’s Bob Armstrong

The Neighbourhood Vintage: Peterborough's retail redux

How your customers make choices

Vince Killen working to provide a space for

ENTREPRENEURS TO FLOURISH

The Kawartha Regions' Premier Business Magazine • Fall / Winter 2023

LAUNCH YOUR INNOVATIVE PRODUCT, APP OR SERVICE

PROUDLY DESIGNED BY:

OUR FREE INCUBATION HUB INCLUDES: Fully furnished incubation workspaces for local entrepreneurs and business owners looking to grow and innovate Access to multiple in-house Entrepreneurs in Residence for expertise, guidance, & mentorship Access to connected meeting spaces, networking opportunities, and events for business development and training

ENTREPRENEURS, LOOKING FOR A PLACE TO CALL HOME? launchkawartha.ca | klcfdc.com | 165 Kent Street West, Suite 302, Lindsay

OCTOBER 2023 • VOLUME 01 • ISSUE 01

FEATURE 8 Supply chains are complex but necessary.

The pandemic has meant we need to rethink how they work.

COVER STORY 12

Vince Killen is an ED on a mission to help Kawartha Lakes harness its entrepreneurial spirit.

FEATURE 16 Peterborough's vintage clothing store on Water Street is in style.

The Business Advocate is published three times per year in October, March, and June. It is distributed to high traffic locations across Peterborough and Kawartha Lakes, and mailed to every business in our catchment area.

CHAMBER NEWS 5

Fireside Publishing House family of magazines is independent and 100% local, based in the Kawartha Region.

BUSINESS BRIEFS 6

Publisher: Roderick Benns Editor/Business Development: Rebekah McCracken Contributors: Rebecca Schillemat Bob Armstrong Wesley Found Jessica Munro Dennis Geelen Ian McKechnie Printed By: Cofax Printing

Art Direction + Design: Barton Creative Co. Christina Dedes Photographers: Sienna Frost Jessica Munroe Web Developer: Kimberly Durrant

Cover image: Vince Killen in downtown Lindsay. Photo: Sienna Frost.

Please send advertising or editorial inquiries to Rebekah McCracken at rebekah@lindsayadvocate.ca or by calling 705-328-5188, or to Roderick Benns at roderick@lindsayadvocate.ca or by calling 705-341-1496.

PRIVACY POLICY: The Business Advocate is independently owned & operated. The opinions expressed herein are the views of the contributors & do not necessarily reflect those of this magazine. Photos, text & art work contained in The Business Advocate are copyrighted & may not be published, broadcast or rewritten without the express permission of the Publisher. Liability for incorrectly displayed advertising is limited to publishing corrections or advertising credit for subsequent issues. The Publisher reserves the right to reject, revise, cancel, omit, discontinue or even decline to print advertising without reason or liability, & without notice. The Publisher has made every effort to ensure information contained herein was accurate at press time. The Publisher does not assume & hereby disclaims any liability to any party for damage, loss, or disruption caused by errors or omissions.

OPINION 15 A curious mindset can help create better business opportunities, says local business author.

HANDS OF TIME 20 A look back at Quaker Oats in Peterborough.

ASK THE EXPERTS 25 YOUR TAKE 30 How about that economy?

3

PUBLISHER'S NOTE

WELCOME TO THE BUSINESS ADVOCATE

Welcome to the inaugural edition of The Business Advocate, the Kawartha Region’s premier business publication. This magazine is content-driven. That means that even though we need advertising to do what we do, we think about how to deliver a great read for you, first and foremost.

When readers take their time with a magazine, absorbing thoughtfully curated stories, they’re also better absorbing advertising messaging, too.

So, it’s a win-win proposition.

In this, our first edition, we feature Vince Killen, the dynamic executive

director of Kawartha Lakes Community Futures Development Corporation. With Lindsay set to double in size in about eight years – a phenomenal prospect for the second-largest centre in the Kawartha Region – Killen is the right man at the helm to usher in a growing culture of entrepreneurism for Kawartha Lakes.

As for me, I’ve been doing this for 30 years, either full time or freelance.

Five years ago, I moved back to the Kawartha Region to start the multiple award-winning Lindsay Advocate magazine for Kawartha Lakes. Now, it’s time to expand our footprint to the Peterborough area, a city I was born in and lived for many years as an adult.

In Peterborough, we feature Jacquelyn Craft’s retail phenomenon, The Neighbourhood Vintage on Water Street. Craft worked with Community Futures Peterborough to help her business, just another example of the community-focused power CFDCs bring to the table.

The Business Advocate will be published three times a year, in October, March and June. We’ll follow that up with a brand-new and exciting lifestyle magazine called Kawartha Social, also three times a year in November, April, and July. Both new magazines will be available in Peterborough, as well as Kawartha Lakes.

In a third feature, Lindsay’s supply chain expert, Bob Armstrong, talks about the importance of supply chains across the Kawartha Region and Canada and how a panel he served on worked to strengthen it at a national level.

In each edition we feature helpful and interesting columnists. Don’t forget to check out our ‘Ask the Experts’ section at the back, too, for their expertise in marketing, financial planning, business succession and business coaching.

As we move forward, we’re open to your feedback and suggestions on how to improve The Business Advocate. Drop me a line anytime at roderick@lindsayadvocate.ca. In the meantime, enjoy our first edition.

Roderick Benns,

Exceptional real estate experiences.

Residential. Commercial. Brokerage.

Tim James Broker of Record

www.TimJames.ca • 705.341.6774 • 273 Kent St W, Lindsay NOT INTENDED TO SOLICIT BUYERS OR SELLERS UNDER CONTRACT

4

THE BUSINESS ADVOCATE • FALL/WINTER 2023

CHAMBER NEWS

NEWS FROM YOUR LOCAL CHAMBERS OF COMMERCE LINDSAY + DISTRICT CHAMBER OF COMMERCE The Lindsay + District Chamber of Commerce is pleased to be a part of the new Business Advocate Magazine.

This fall, members and the community can look forward to some exciting events including the continuation of the “PD with the LDCC” professional development series, member networking events, a variety of Small Business Week events from Oct. 15-21 and the ever-popular Awards of Excellence celebrating local small businesses. Keep an eye on our website, lindsaychamber.com for details and tickets on these events and many more exciting things to come.

FENELON FALLS AND DISTRICT CHAMBER OF COMMERCE As we settle into the rhythms of a new season, the calendar is full of events for all ages in Fenelon Falls. Burn some calories on Thanksgiving weekend at the Turkey Trot. Bring the family to The Grove Theatre for the Pumpkin Parade.

Jump into the Christmas season on Nov. 25th for the biggest Santa Day party in Kawartha Lakes.

Show your local love and enter to win during our annual Passport to Christmas promotion. It’s the perfect way to make most of shopping and dining in Fenelon Falls. Book clubs, paint nights, open mics and more will keep you connected with friends and neighbours through the fall and winter. For more information check out the events calendar at www.explorefenelonfalls.com or subscribe to the free Town Crier newsletter.

COBOCONK-NORLAND CHAMBER OF COMMERCE Don’t forget to pick up your Fall Shopping Passport at the Chamber office in Coboconk. Until November 15, customers receive a stamp for shopping at a participating business – complete passports are entered into a draw for some fantastic prizes. Fall in love with local businesses this season.

If the cold weather has you feeling down, we can help. Be sure to check out our Choose Your Own Adventure and other virtual trip planning tools on our website so that you can explore from home before you experience in person.

Be sure to keep your eyes open for details about our Fresh Water Summit Festival Loonie Auction happening in February 2024. This event is a fun way to raise money for our free Festival taking place in June every year. More details at coboconknorland.ca.

PETERBOROUGH CHAMBER OF COMMERCE Representing 1,000 businesses throughout the region, the Peterborough and the Kawarthas Chamber of Commerce puts on a variety of events and initiatives to promote, support, and advocate for the local business community.

Coming up Oct. 18 is the annual Business Excellence Awards, a celebration of local businesses and business leaders that excel in our community, in business, and as an employer. The names of all the finalists are out, but you will have to join us in-person to find out who the winners are and enjoy an evening of celebration. Find out more and get your tickets at pkexcellence.ca.

Businesses looking to get the most out of their holiday promotions can list key items on the Chamber’s Hometown Holiday Wishlist. The Wishlist is an online platform designed for shoppers to shop and gift-give locally with a catalogue of products and services. Check pkchamber.ca for details.

Our signature Power Hour event brings together our local political leaders — MP Michelle Ferreri, MPP Dave Smith, City of Peterborough Mayor Jeff Leal, and County of Peterborough Warden Bonnie Clark. The event kicks off with a lunch followed by a moderated discussion on local business issues. Members of the business community are encouraged to submit questions ahead of time or write-in questions during the discussion. Details on the date and location are coming soon.

The Chamber holds regular monthly events to help connect and support the local business community. The Business Exchange is our after-hours networking event held of the first Tuesday of the month from 4 to 6 pm at a local business. Chamber AM is held on the second Tuesday of the month at a business location in downtown Peterborough from 8 to 9 am and includes networking time, a guest speaker, coffee, and treats. ​Business Owners Sharing Solutions (BOSS) is a virtual workshop on the third Wednesday of every month featuring local experts discussing solutions to common business issues. Those looking for regular oneon-one networking will enjoy 26 Coffees, a group where participating members will get a chance to have up to 26 coffees over the course of the year with a different person each time.

The Chamber Not-For-Profit group is designed for any NFP in Peterborough and the Kawarthas to provide significant resources and encourage group sharing. The group meets monthly to feature knowledgeable speakers, host presentations, and provide networking opportunities and idea sharing. The Peterborough and the Kawarthas Chamber of Commerce policy team will head to Calgary in mid-October for our annual convention to debate national-level policy generated from grassroots advocacy submitted by chambers from across the county. Similarly, we are ramping up our advocacy at the provincial level as we prepare policy resolutions for the Ontario Chamber of Commerce convention in the spring.

THE BUSINESS ADVOCATE • FALL/WINTER 2023

5

BUSINESS BRIEFS

NEW ED FOR THE INNOVATION CLUSTER PETERBOROUGH AND THE KAWARTHAS

Barristers, Solicitors, Notaries

Heather Richardson

Angus McNeil

Dedicated to Excellence Since 1959

Waylon Skinner

Nicole Moore

Business Succession Planning Estate Administration Incorporation Partnership & Shareholder Agreements Residential & Recreational Purchases, Sales & Refinancing

CAMILA DUARTE.

Contract Preparation & Review

The board of directors of the Innovation Cluster Peterborough and the Kawarthas has announced Camila Duarte as the organization’s new executive director.

With her background as the Innovation Cluster’s programs director and business advisor coupled with her drive for innovation, Duarte is poised to lead the organization forward as a vibrant centre for economic development in the region, according to a media release.

Duarte spent nine years in tech innovation, non-profit, and customer-facing industries, coaching, relationship-building, and developing strategic initiatives across international centres in Melbourne, Australia, and Montreal and Toronto. During her tenure at the Innovation Cluster, she pioneered initiatives that generated over $1 million in revenue growth, mentored more than 100 companies and fostered pivotal partnerships internationally and across Canada.

KMA RELAUNCHES IN KAWARTHA REGION The Kawartha Manufacturers Association (KMA) is relaunching in the Kawartha Region. With the support of the Peterborough and City of Kawartha Lakes Economic Development Agencies, a fresh KMA executive board and a commitment to fostering collaboration, innovation, and growth, this year promises to reinforce the immense value that the KMA brings to the table. The KMA empowers local manufacturers to collectively tackle issues, share insights, and drive economic prosperity. Visit thekma.com to learn more.

6

THE BUSINESS ADVOCATE • FALL/WINTER 2023

Wills & Powers of Attorney

10 William St. S. Lindsay

705.324.6222

contact@staplesswain.com www.staplesswain.com

402 Simcoe St. Beaverton

705.426.7317

REAL ESTATE

KAWARTHA LAKES ON MAJOR GROWTH TRAJECTORY AS HOUSING STARTS TO CLIMB

BY REBECCA SCHILLEMAT

The City of Kawartha Lakes (hereafter called Kawartha Lakes) is growing. There were 335 resident unit completions in 2022, up 61 per cent from the previous year.

(A residential completion is a complete home, when the homeowner is given the keys to the new unit, while a residential dwelling start is when the foundation has been poured and shovels are in the ground for a new unit to be built.)

Last year saw the highest number of new housing starts ever with 573 units, nearly half of which are condo or apartment buildings. These strong numbers show how Kawartha Lakes can meet the ambitious housing target set by the Province of Ontario at the AMO Conference in August 2023. Kawartha Lakes numbers show that building more apartments and condominiums will allow the city to reach the target of 6,500 new residential starts by 2031.

Housing is only one component of the beautiful communities in Kawartha Lakes, but it is the best indicator of growth and prosperity. Kawartha Lakes experienced a population growth of more than five per cent from 2016 to 2021, on par with the provincial growth of nearly six per cent. This is a positive change from the negative population growth of two per cent from 2006-2011, which spurred “growing the economy” as the number one priority in Kawartha Lakes’ 2016 Strategic Plan. Population growth leads to a need for more housing which changes the landscape of the community, while also providing opportunities for new employment and a better quality of life for residents. In Kawartha Lakes, new home construction accounted for over 1,600 jobs and renovation and home repair accounted for nearly 2,500 jobs. In 2022, the investment in housing from homeowners represented over $650 million in the city.

Growth is extremely important to our community. Regions that grow enjoy countless opportunities and benefits, such as a larger tax base, more opportunities for children to continue their adult lives in the community they grew up in, and further economic development through new businesses opening in our community. PKHBA applauds the planning and priority for economic growth from Kawartha Lakes council to build our community for the future and for our next generation.

Rebecca Schillemat is the executive officer for the Peterborough and the Kawarthas Home Builders Association.

THE BUSINESS ADVOCATE • FALL/WINTER 2023

7

FEATURE

THE IMPACT OF SUPPLY CHAIN DISRUPTIONS IN KAWARTHA REGION AND BEYOND

National Supply Chain Task Force recommendations will help alleviate stresses, writes Lindsay-based supply chain expert

BY BOB ARMSTRONG

4

THE BUSINESS ADVOCATE • FALL/WINTER 2023

It’s clear the COVID-19 pandemic renewed interest in our supply chains for goods and services. Every day during the pandemic it seemed we received news on shortages of food, raw materials, parts, vehicles, and workers.

Fields were stacked with containers full of goods, and motor vehicles were lined up waiting for microchips and other needed parts before being shipped to automobile dealers.

The pandemic triggered a radical transformation of our workforce with an acute impact on the transportation supply chain sector. There are simply not enough qualified people to fill all the roles, from driving trucks and staffing warehouses, to handling administration tasks and operating new technology. There has been more change in the supply chain workforce in the last three years than in the previous 50.

As a member of the National Supply Chain Task Force (NSCTF) appointed by the Minister of Transport in April of 2022, I was involved in extensive consultations and engagements with a broad range of transportation organizations, stakeholders and industry experts across the country. Organizations and departments in the United States (Canada’s largest trading partner), were also consulted to understand the perspectives on how to strengthen the North American Supply Chain.

construction building materials, high food costs and labour shortages.

During the pandemic, and in the year or so since, we continue to experience negative impacts.

Car and truck dealers were hit hard by a huge lack of inventory of vehicles to sell, as microchip shortages made it difficult to create the needed automobiles. New microchip manufacturing facilities are being built in the USA and expected to come on stream in 2024 which should help alleviate this concern. (However, electric vehicles can use up to eight times as many chips as a gas combustion vehicle.)

“Industries and consumers across the Kawarthas, including Peterborough and Lindsay, have felt the impact of the transportation supply chain crisis by experiencing shortages in materials, motor vehicles and parts, home construction building materials, high food costs and labour shortages.”

We encouraged the federal government to join forces with industry stakeholders to help position Canada as a strong competitor in the global market and strengthen our economy by addressing the transportation supply chain crisis. Our report can be viewed on the website of Transport Canada.

Our home construction industry struggled during the pandemic to complete house building due to a lack of workers, shortages of materials and rising interest rates for consumer mortgages. Many people experienced lengthy delays in home closures as the builders had no choice but to delay construction and extend closing dates.

Industries and consumers across the Kawarthas, including Peterborough and Lindsay, have felt the impact of the transportation supply chain crisis by experiencing shortages in materials, motor vehicles and parts, home

Consumers across the Kawartha Region have experienced higher prices for everything they purchase, especially food, and motor vehicles (whether new or used). Consumers are continuing to experience shortTHE BUSINESS ADVOCATE • FALL/WINTER 2023

9

ages of items they want to purchase, and services have suffered due to labour shortages.

Our transportation supply chain just experienced another crisis due to a labour dispute in B.C. ports this past summer. During June and July ships could not be unloaded, nor could Canadian exports be loaded on ships bound for our export markets. This labour dispute has been settled, but there is a huge backlog of vessels waiting to be unloaded and many full containers of goods sitting at ports and their terminals which must be moved across Canada to get into the hands of customers.

LABOUR SUPPLY There is a myriad of issues compelling employers to take an entirely new approach to their workers if they wish to attract and retain the talent they need. It is not just about raising wages -- the challenge is to build and maintain a positive culture and working environment for a future that has already arrived.

The NSCTF recommended that government expand existing programs and examine ways to attract skilled tradespeople and those with other 10

THE BUSINESS ADVOCATE • FALL/WINTER 2023

desirable skills by expediting refuge and immigration processing to individuals with the needed skillsets while also expanding other programs like the Temporary Foreign Worker Program.

The federal government must work with provinces and territories to implement programs to attract and retain truck drivers. We also need a national transportation supply chain strategy and a national supply chain office to develop this policy and provide leadership and oversight of our recommendations.

Other key recommendations included steps to immediately ease port container congestion, expand services offered by both the Canadian Food Inspection Agency and Customs Border Services Agency to ensure 24hour services as needed.

Only then can we begin to address the lingering effects of pandemic-induced supply chain issues, coupled with a sharply changed labour force.

Taking the steps above will ensure the Kawartha Region, like other parts of Canada, can reliably move forward and face their day-to-day business challenges head on. TBA

Bob Armstrong has five decades of management and board experience across all aspects of logistics, transport, and supply chains. He lives in Lindsay.

OPINION

HOW YOUR CUSTOMERS MAKE CHOICES

A simple method of improving your offering – and your bottom line

BY WESLEY FOUND In another life of mine, I stumbled on an experiment about jams in a grocery store that stuck with me.

One day, at an upscale grocery store, customers would be greeted with a shelf of 24 different kinds of jam. Then on another day, at that same food market, only six different types of jam were on offer. Can you guess which display lead to more total sales? Suffice to say that less is more.

A more interesting finding is participants of the day with less kinds of jams were happier with their purchase than ones who made a purchase on the plentiful options day. It comes down to a term called decision fatigue. With more choice comes a higher chance of choosing the wrong option.

None of us are immune. All of us are virtue signallers. From the car you drive to the shoes you wear you are telling the world something about yourself -- how you are one of us and how you are different. How we think others view our decisions is no exception. For myself there have been times where I have made no decision at all to avoid making the wrong one.

all options. The result of doing this across most of our offerings? I was able to improve our bottom line significantly and improve customer reviews while not changing our offerings. It just required repackaging them in a way where the dish I wanted to sell the most matched the way customers make decisions.

The best changes you can make in a business are often the simplest and most cost effective. To achieve you must know when and how consumers make choices. The best first step in this process is often found by asking yourself, friends and customers to walk you through how they decided on what they purchased in your business.

Hopefully this results in you offering more precise products and services in the future – and overall, less jam.

You do not want your customers to make the same choice with your product offering. Focus each category of offerings with only a few options. Your offerings are the business model. If they are complicated, then your operations will be, too. Simple means happier customers, lower inventory, easier administration and less staff training.

Within your simplified offering, make the number of choices an odd number. Research has shown customers also like odd choice sets. People’s eyes and desires tend to focus on the middle of the offering. We are taught these lessons from a young age, but we forget how to apply them into adulthood. Think of Goldilocks and the Three Bears. What porridge did they think was the best option?

When I owned restaurants, I put this into action. For a specific cut of steak, I provided three options. Small, medium and large size. Small size had a small price, signalling on budget. Large price signalled high roller. Medium price was happy in-between. Guess which option was the most popular? I knew this was going to be the case. I made the medium size of steak slightly larger than what I was able to sell in the past and made sure its profit margin was the highest of

Wesley Found is president of Linborough Property Corp and an active community member of the Kawartha Region.

THE BUSINESS ADVOCATE • FALL/WINTER 2023

11

COVER STORY

MAN ON A MISSION

Vince Killen on working to provide a cutting edge space for entrepreneurs to flourish

BY JESSICA MUNRO A three-storey elevator ride or three flights of stairs in the Scotiabank building in downtown Lindsay leads to a haven for entrepreneurs. This is Launch Kawartha, a modern and innovative space dedicated to empowering aspiring entrepreneurs and business owners on their journey to business growth.

"It's part of our mandate to support small businesses," said Vince Killen, the executive director of Kawartha Lakes Community Futures Development Corporation (KLCFDC).

The newly minted brick-and-mortar facility at 165 Kent St. W., which opened its doors in February, was a collaborative effort between KLCFDC and internally funded by Kawartha Lakes Business Community Development Corporation (KLBCDC).

This centre was meticulously crafted to provide guidance and support to local entrepreneurs. At Launch Kawartha, entrepreneurs are greeted with an array of amenities, including free multi-configurable workspace, high-speed Wi-Fi, and unlimited printing. The organization leverages partnerships with various service providers, offering an extensive range of services from financial and bookkeeping assistance to intellectual property advice and website design. A new mental health and wellness facility caters to the holistic well-being of entrepreneurs.

The spacious innovation centre accommodates up to 20 entrepreneurs, with adaptable configurations suitable for individual workspaces, classrooms, and event hosting.

Entrepreneurs can also brew a fresh pot of coffee in the kitchenette and enjoy it by the cozy fireplace. According to Killen, "Everything is here for a small business owner to help scale their business and develop new products and services."

However, Launch Kawartha is not just an innovation centre. It also plays host to events featuring keynote speakers. Recently, under the Give Back Mentorship Initiative, Erica Ehm addressed the audience on topics like women entrepreneurship and courageous leadership. Additionally, the centre generously opens its boardroom to non-profit organizations for meetings, free of charge. The innovation centre anticipates hosting 30 to 40 events annually, with the most recent being the "Ignite Your Innovation: Kawartha Open House for Entrepreneurs" in mid-August, in partnership with the Innovation Cluster Peterborough and the Kawarthas.

12

THE BUSINESS ADVOCATE • FALL/WINTER 2023

We are fostering “an ecosystem of collaboration, mentorship, and community building here," Killen emphasized.

"Located in the heart of Lindsay and Kawartha Lakes, it makes total sense."

Those who have benefited from the organization can't sing enough praises for both the non-profit's mission and the man leading it. Brandon Robinson, co-founder and CEO of Horizon Aircraft, a high-tech aerospace company based primarily out of the Kawartha Lakes Municipal Airport, spoke highly of Killen's impact. "He's spearheading a pretty powerful thing for the City of Kawartha Lakes and the surrounding area. We need more people like him," Robinson said. Notably, KLCFDC and KLBCDC invested in and supported Horizon Aircraft. Robinson commended Killen's constant willingness to contribute to the community, citing the positive energy he radiates.

The spacious innovation centre accommodates up to 20 entrepreneurs, with adaptable configurations suitable for individual workspaces, classrooms, and event hosting.

Launch Kawartha seamlessly melds natural design elements with modern concepts in a single space. The centre actively collaborated with local suppliers and artisans to furnish and design the space. "It's where urban meets rural," Killen said. "It's a beautiful work-life balance." To top it off, the Launch Kawartha boardroom features an exact, scalable wooden tabletop map of the area, created by local artisan Dan Kitchen. A suspended canoe, crafted by woodshop students and teachers from I.E. Weldon Secondary School, adds to the space's charm.

Kitchen, the owner of Invent Art Inc. and Make Stuff Move, emphasized Killen's unwavering commitment to supporting businesses. Kitchen had initially partnered with KLCFDC in the early years of his business, Invent Art Inc. The funding he received from KLDFDC enabled him to purchase CNC equipment, which he later used to create the boardroom table, the Launch logo on the main hub wall, and engraved canoe paddles suspended below. Through Launch Kawartha, Killen's organization further backs Kitchen's second business venture, Make Stuff Move, a start-up that imparts hands-on skills to children, allowing him to utilize the space as a classroom.

ALL PHOTOS: SIENNA FROST.

THE BUSINESS ADVOCATE • FALL/WINTER 2023

13

Killen assumed the role of executive director at KLCFDC in 2020, with a mission to modernize and revitalize the organization. Despite the challenges posed by COVID-19 restrictions, which commenced only six weeks into his tenure, he saw an opportunity and formulated a plan for the innovation centre early last year. "The time was right to open the innovation centre," Killen said, citing the pent-up demand for innovation and co-working spaces in downtown Lindsay.

Prior to his current role, Killen had served as the executive director for Community Futures Eastern Ontario for a decade. He had also worked as the program manager for the Southern Ontario Fund for Investment and Innovation. His passion for this work stems partly from his extensive experience, which includes opening a distribution company in Kitchener-Waterloo and growing it into a multi-million-dollar enterprise after working in finance in Toronto. Originally from Peterborough, Killen pursued his postsecondary education at Trent University before moving away for some years. He eventually returned to the Kawartha Region, which he now proudly calls home.

Rebecca Mustard, manager of economic development for Kawartha Lakes, says Launch Kawartha “is a terrific addition to our entrepreneurial ecosystem.”

14

THE BUSINESS ADVOCATE • FALL/WINTER 2023

“The space is bright, creative, and full of energy. We are also very happy that it is the new home of the Innovation Cluster incubator space in Kawartha Lakes.”

“The space is bright, creative, and full of energy. We are also very happy that it is the new home of the Innovation Cluster incubator space in Kawartha Lakes.”

Mustard says this service is a partnership with the municipality, helping high growth entrepreneurs incubate their tech businesses right here.

Killen believes they’ve created a “positive environment… surrounded by people who are passionate, like me. The ecosystem of community and collaboration we have here is unparalleled, and it energizes me every day."

He also believes Launch Kawartha isn’t done growing yet.

His goal is to expand the centre into a larger space, providing even greater support to businesses and entrepreneurs.

"I believe we're on the right path." TBA

OPINION

THE SERENDIPITOUS SYMPHONY OF BUSINESS SUCCESS

BY DENNIS GEELEN

In the grand orchestra of business success, where strategic planning and calculated risks often take centre stage, there's a quieter, yet equally influential instrument at play: serendipity.

Often erroneously dismissed as mere luck, serendipity has a unique way of orchestrating success in the business world.

In this column, let's explore the enchanting role serendipity plays in shaping the destiny of businesses, along with two examples from renowned companies and products that danced to its harmonious tune.

APPLE INC.: THE FORTUITOUS PIVOT Before Apple became synonymous with innovation, it was a fledgling computer company struggling to find its footing. In a twist of serendipity, Steve Jobs visited Xerox's Palo Alto Research Center (PARC) to view their graphical user interface. Witnessing the groundbreaking potential, Jobs seized the moment and integrated these ideas into the revolutionary Macintosh computer. This accidental encounter not only transformed Apple but also set the stage for modern computing as we know it.

But there’s another slice of good news for you. While we cannot control what happy accidents come our way (or when), we can certainly cultivate an environment that fosters serendipity (or what I like to call, ‘increasing our luck surface area.’)

Encouraging cross-disciplinary interactions, participating in diverse events, and maintaining a curious mindset can all amplify the chances of serendipitous discoveries that drive business success.

In the symphony of business, serendipity plays a harmonious, albeit whimsical, tune. By acknowledging its influence and embracing the magic of unexpected events, we can compose our own stories of triumph, guided by the gentle hand of chance. Remember, as entrepreneurs and business leaders, while we chart our courses deliberately, some of the most extraordinary destinations are reached through the unplanned deviations we embrace.

POST-IT NOTES: STICKY NOTES OF DESTINY The invention of Post-it Notes is a testament to the power of unexpected discoveries. Dr. Spencer Silver, a 3M scientist, was working on a strong adhesive, but instead stumbled upon a weak, reusable one. Years later, his colleague Art Fry, while searching for a bookmark that wouldn't damage his hymnbook, had his own serendipitous moment. He realized the weak adhesive could hold paper without damaging it, leading to the creation of the iconic Post-it Note.

This unforeseen synergy of ideas birthed a globally used home and office tool.

These stories should come as both good news and bad news to budding entrepreneurs. The good news is that you don’t have to be the smartest or hardest working person to be a successful business founder (a myth that many of us believe). The bad news is that we don’t have as much control of our success as we like to think we do.

Much of it is in the hands of serendipity!

Dennis Geelen is the author of The Accidental Solopreneur and curator of the Happy Accidents newsletter.

He lives in Lindsay.

THE BUSINESS ADVOCATE • FALL/WINTER 2023

15

FEATURE

SECOND CHANCES

The Neighbourhood Vintage store is full of history, fashion and fun

BY JESSICA MUNRO

4

THE BUSINESS ADVOCATE • FALL/WINTER 2023

Everything old is new again – or at least it has the chance to be vintage.

Located in the heart of downtown Peterborough in the historic Commerce Building on Hunter Street, The Neighbourhood Vintage is stocking the shelves with wearable vintage clothing and accessories.

Owner Jacquelyn Craft is giving old clothes a second chance. The store is filled by a collection of vintage curators, including herself, who contribute to the different styles and eras of clothes being sold.

“We specialize in more wearable vintage,” said Craft. Sometimes that means they stock newer clothes from the 1980s to Y2K style of the late 90s and early 2000s.

“We want to stock styles that people can work into their everyday wardrobe.”

Craft says she wears a mix of vintage and modern clothes, a lot of pieces that were found second hand. “I love thrifting. It’s so fun and you can find such great stuff second hand,” she said. But she’s also not opposed to wearing new pieces, including a locally printed limited-edition t-shirt that’s sold at The Neighbourhood Vintage, printed with the slogan “Vintage is for lovers” on the front.

According to Craft, The Neighbourhood Vintage has opened its doors to everyone in the community, online and instore. While often their garments are grouped together by type, it's never labeled for a specific gender.

They also try to offer a variety of sizes.

Before opening the store at 391 Water Street, Craft worked as a swim coach.

When COVID-19 restrictions left her bored at home she decided to photograph her vintage mug collection and shared it to Instagram.

“That’s when Minty Vintage started,” she said. “It was an Instagram vintage account where I sold housewares, clothing, furniture. A little bit of every-

“One of the best parts of opening the shop has been being able to be involved in the local community. The downtown Peterborough community is very tight knit.”

thing. Pretty quickly I found out people were interested in buying vintage and liked my curations.”

For about a year, Craft ran Minty Vintage as an online only store until restrictions started to ease, she started to do in-person pop-up events where she met other curators who had the same interest of selling vintage items.

← JACQUELYN CRAFT IN HER VINTAGE STORE. ALL PHOTOS: JESSICA MUNRO.

“It was clear that there was a community forming. It wasn’t just me,” Craft said. “We thought, how cool would it be if we could do something together.”

To help get the store off the ground, Craft sought help from Community Futures Peterborough, an organization that helps budding entrepreneurs and small businesses owners by offering financing and different programs to help businesses succeed in Peterborough.

Through Community Futures, she was able to secure a loan for startup costs to open the shop and got help filling the store from the various interested vendors she had worked with.

“I liked that they’re (Community Futures) a local organization. They’re specifically small business focused. You can tell that they’re here and they exist to actually support small businesses,” Craft said. “It was a no brainer.”

“I truly wouldn’t have been able to open the shop without them,” she added.

THE BUSINESS ADVOCATE • FALL/WINTER 2023

17

FOR ABOUT A YEAR, CRAFT RAN MINTY VINTAGE AS AN ONLINE ONLY STORE.

BRICKS AND MORTAR LOCATION

can’t predict what each week will bring.

Craft explained that selling and buying clothes online can sometimes be difficult because you can’t try on the items or feel the fabric before you buy. She said that selling vintage clothing online can be more difficult because it’s unique, and it must be listed by its measurements because the sizes can differ throughout the decades.

Craft is hoping to continue hosting a summer market series called The Neighbourhood Market in the Bankers Commons Courtyard behind the shop and expand into more events in the future. This summer, The Neighbourhood Market started in June and happened on the second Saturday of every month until September. Each month the market switches between hosting vintage vendors and local artists and makers.

“Having a physical location where people can try something on was something we all wanted and that’s how the idea for The Neighbourhood Vintage came about.”

Craft says The Neighbourhood Vintage offers something different than large chain thrift stores and smaller charity shops in Peterborough. Those who are looking for vintage pieces don’t need to search through the racks because the work has already been done for them.

“We’ve picked out the stuff that is actually vintage. The stuff that is stylish and in good condition,” she said.

According to the shop’s website, there are seven curators, including Craft’s own Minty Vintage. The Neighbourhood Vintage opened its brick-and-mortar location in October of 2022 on Water Street.

“The first year feels like the time to discover and take notes for next year,” she said.

Born and raised in Peterborough, she felt like she had a good understanding of shopping traffic in downtown but has learned that the only thing you can rely on is that you 18

THE BUSINESS ADVOCATE • FALL/WINTER 2023

“One of the best parts of opening the shop has been being able to be involved in the local community. The downtown Peterborough community is very tight knit.”

Along with the markets on second Saturdays during the summer, The Neighbourhood Vintage store has also been involved with the local art community through First Friday Ptbo., a free monthly art crawl in the downtown. Artists allow the public to tour their studios and local businesses will stay open later to host an artist as well. The shop first opened during a First Friday art crawl.

Craft says she has found a lot of people have discovered her store through the different art crawls and the events allow people who may not have the time during regular business hours to see the store. TBA

The store is located at 391 Water Street in Peterborough.

Visit theneighbourhoodvintage.com.

5

GREAT REASONS TO SHOP VINTAGE

1. UNIQUE FASHION STATEMENTS: Vintage clothing allows you to stand out from the crowd with one-ofa-kind pieces that tell a story.

Each item has its own history, making your style truly unique and personal.

2. ECO-FRIENDLY FASHION: By opting for vintage, you're reducing the demand for mass-produced garments, helping to alleviate the strain on our environment. It's a sustainable choice that minimizes your carbon footprint.

3. QUALITY CRAFTSMANSHIP: Vintage clothing often boasts superior craftsmanship and attention to detail compared to modern counterparts. Time-tested fabrics and durable construction ensure longevity.

4. COST-EFFECTIVE: Vintage treasures can be surprisingly budget-friendly, offering high-quality fashion without breaking the bank. You can score designer pieces at a fraction of the original cost.

5. NOSTALGIC APPEAL: Vintage fashion enthusiasts appreciate the nostalgia and sentimentality that comes with wearing clothing from different eras, connecting them to bygone times.

OFFICE DECOR. WE HAVE YOU COVERED! PRINTS • FRAMES • DECOR + MORE!

wallitwallart.ca wallitwallart@rjts.ca 18 Cambridge St. S. Lindsay

THE BUSINESS ADVOCATE • FALL/WINTER 2023

19

Hands of Time B U S I N E S S H I S TO R Y I N T H E K AWA R T H A S

QUAKER OATS

Peterborough’s cereal success story

BY IAN MCKECHNIE Wander into any grocery store, and you are likely to encounter the smiling face of a gentleman dressed in the seventeenth century attire of a Quaker – perhaps the only Protestant sect whose name has become almost universally associated with a line of cereals. While Quakers themselves didn’t start the milling company bearing that name, the image was apparently chosen because the Quaker faith inspired values of honesty, integrity, purity, and strength.

Such are the hallmarks of any successful business, and the impact of the Quaker Oats Co. on the City of Peterborough has been nothing less than a success story for more than 120 years.

What we know today as Quaker Oats traces its origins to the 1880s, when an Ontario-born miller named Robert Stuart joined forces with competitor Henry Parsons Cowell, and German-American businessman Ferdinand Schumacher, to form the Consolidated Oatmeal Company, in Ohio. In 1901 it was renamed as the Quaker Oats Company, and within a year, the company had set up shop in a massive nine-storey facility on the west bank of the Otonabee River, in downtown Peterborough.

Quaker’s presence in Peterborough owes much to the efforts of Senator George A. Cox, who had devoted a considerable amount of his boundless energy to wooing industrial concerns to the community over the course of the late 19th century. The city was ideally situated for an operation on the scale planned for by Quaker’s top brass, with rail and water access promising to expedite the shipment of its products far and wide.

Moreover, the Otonabee’s current would come in handy for generating the enormous amount of hydroelectricity needed to grind grain into breakfast cereal.

By Christmas of 1902, the “cereal works” was consuming some 60,000 bushels of oats per day, much to the delight of local farmers who brought their harvest to the towering mill by horse and wagon. A spur line served by the Canadian Pacific Railway saw carload after carload of grain going in and finished products going out. Not even a fire at the factory in February of 1904 would stop the production of animal feed, corn flakes, flour, puffed wheat, and rolled oats.

As the first decade of the 20th century drew to a close, Quaker Oats had become a household name, and its Peterborough plant the largest cereal manufacturing facility in the British Empire.

20

THE BUSINESS ADVOCATE • FALL/WINTER 2023

As rebuilt, the Quaker Oats complex was more than double in size – effectively seven mills in one, each handling a different product –and would go on to provide employment for more than 600 Peterborough residents, many of whom were women.

“Farmers supplied Quaker Oats with supplies, and the women from the farms found great jobs at Quaker Oats,” says archivist Elwood Jones, of Trent Valley Archives. “The (Peterborough) YWCA was built with a view of providing good rooms for female employees of Quaker.”

Quaker continued to grow its Peterborough operation over the next three quarters of a century. In 1980, the plant began to produce cookie, cake, and muffin mixes, and in 1998 the Canadian-developed Crispy Minis rice chips became one of the company’s most successful products.

WORKERS MAKING MUFFETS AND BAGGING FLOUR.

In 2001, PepsiCo acquired the Quaker Oats Co. and continues to keep the iconic mill on the Otonabee humming away.

A still-active spur line cutting through Peterborough’s Millennium Park enables trainloads of oats to be shipped into the cavernous Quaker plant, while trucks wait to bring finished products to market. In between, the oats will be processed in a state-of-the-art, peanut-free facility – and their scent wafting across Hunter Street will continue to remind us of how honesty, integrity, purity, and strength have seen this longtime business through 121 years of tragedy and triumph. TBA

Homemakers perusing local newspapers were treated to recipes in which Quaker copy writers gushed about the nutritional qualities of their product. “The family that hasn’t eaten Quaker Oats griddle cakes has a delightful surprise coming to it,” raved one such item published in the May 20, 1908 edition of Lindsay’s Watchman Warder newspaper. “Besides the delicious flavour, there is the pleasure of knowing you can eat all you want, and the more you eat the better for you,” the recipe asserted. A week later, advertising in the same newspaper made it clear that “good housewives consider cleanliness and purity first of all; that’s why Quaker Oats is their choice among all oatmeals.”

Quaker had been a fixture in Peterborough and in the cupboards of the nation for nearly 15 years when tragedy struck.

On December 11, 1916, sparks from a rolling machine came into contact with volatile grain dust in the grain-drying area of the mill, causing a massive explosion and fire. Twenty-three people died in the disaster, which left a community in shock.

“All that was left of the massive buildings of the Quaker Oats plant – the last word in modern constriction – (were) the walls, bricks, machinery and other debris, while the flames raged with satanic glee,” observed the Lindsay Post’s Peterborough correspondent on Dec, 15, 1916.

Undeterred, civic leaders approached Quaker executives and convinced them to rebuild their Peterborough plant. A new building, incorporating parts of the original structure, took shape over the course of 1917-1918. Its design was supervised

by George Martell Miller, who was also responsible for Peterborough’s General Electric buildings.

ALL PICTURES COURTESY OF TRENT VALLEY ARCHIVES.

THE BUSINESS ADVOCATE • FALL/WINTER 2023

21

Is your business constructing a new build, expanding an existing building, or relocating to Kawartha Lakes? www.kawarthalakes.ca/DevelopmentConcierge

Our complementary program can help you navigate the development aspects of your project.

Small Business Week October 15 to 21 Free Webinar Accelerating Success through Digital Transformation Monday, October 16 at 7:00 pm.

Scan to Register

www.kawarthalakes.me/DTOct2023

Check out other Small Business Week Events in Kawartha Lakes

www.kawarthalakes.ca/SmallBizWeek2023

22

ADVERTORIAL

JUMP IN TO OPPORTUNITY! Kawartha Lakes Economic Development

Kawartha Lakes is home to over 250 lakes and rivers, and some of the most abundant green space, vibrant communities and diverse opportunities in Ontario. As our population continues to grow, the City of Kawartha Lakes is working towards our vision of a vibrant and growing economy.

Within the City, one of the teams dedicated to supporting the business community and fostering vibrancy is Economic Development. We connect entrepreneurs, businesses, and investors with the abundant opportunities that Kawartha Lakes has to offer. We strive to create a sustainable community where residents can enjoy a high quality of life and businesses can flourish.

We’re committed to fostering an environment where innovation, entrepreneurship, and collaboration thrive. Supporting a variety of businesses across industries including agriculture, arts and culture, manufacturing, engineered products, tourism and more. From small enterprises to large corporations, we understand that a rising tide lifts all boats.

We offer tools to stimulate economic growth, such as supporting local businesses, promoting entrepreneurship, workforce development, and attracting investments. Our team works with governments, non-profits, businesses, educational institutions and other stakeholders to achieve our shared economic development goals.

We invite you to join us in shaping the future of Kawartha Lakes and experiencing the rewards of being a part of a vibrant and growing community. Sign up for our newsletters to receive helpful business information, funding opportunities, upcoming training or educational opportunities, and other useful business resources directly to your email inbox.

SPONSORED CONTENT

ECONOMIC DEVELOPMENT NEWS & EVENTS Frequency: By-weekly Valuable information on funding opportunities, business resources, upcoming training opportunities and Kawartha Lakes highlights.

KAWARTHA LAKES SMALL BUSINESS CENTRE (SBC) Frequency: Monthly Information on Small Business Centre programs, training, and funding opportunities.

WELCOME HOME! RELOCATING TO KAWARTHA LAKES Frequency: Monthly Crafted for people new to Kawartha Lakes. Find out about business opportunities, community engagement, success stories, and recreational activities in our communities.

EXPLORE KAWARTHA LAKES TOURISM NEWSLETTER Frequency: Once per season Showcasing expert tips, trip ideas and itineraries to inspire year-round visits to Kawartha Lakes.

To signup visit: www.kawarthalakes.me/newsletter Subscribe to our newsroom to receive all Kawartha Lakes news, public notices and events calendar: www.kawarthalakes.ca/subscribe THE BUSINESS ADVOCATE • FALL/WINTER 2023

23

Linborough_7.6x4.5_3.qxp_Layout 1 2023-09-07 9:57 AM Page 1

COMMERCIAL SPACE AVAILABLE High traffic Lindsay and Peterborough locations. Business and professional mix. Favourable lease rates and terms.

Responsive landlord. Learn more at linborough.com

Help set our priorities for 2024-2027!

With our current 2020-2023 Strategic Plan coming to an end, this fall we are refreshing it to launch our new plan in early 2024.

The 2024-2027 Strategic Plan will be the municipality’s roadmap to follow, setting the priorities and accomplishments we want to achieve in the next four years.

Have your say on our direction by sharing your input on the public engagement project now live on Jump In Kawartha Lakes!

Get involved: www.jumpinkawarthalakes.ca/StrategicPlan2024 24

THE BUSINESS ADVOCATE • FALL/WINTER 2023

ASK THE EXPERTS BUS I N ESS C OAC H I N G

WHERE IS ALL THE MONEY?

BY BRIAN RUMP

“How come nobody has any money?

Where is it? It must be somewhere,” said my business coaching client to kick off our meeting. This client sells services to businesses and was frustrated that every business they had talked to wanted to hire them but “literally didn’t have the money right now.”

Business coaching to help you build your business the way you want and get the financial results you deserve.

Getting started is easy:

1. Book a free consultation 2. We'll get to know each other 3. You get playbooks and frameworks that make you money

Book a free consultation today at profitcoach.ca

SPONSORED CONTENT

This is not an uncommon problem.

Most business owners feel like they are just getting by or things are just about to get a little bit better. They want to break this cycle, invest, and grow like they know they can, but never feel like they have the money to get started. It’s a cycle that makes you feel like you will never get the financial results your business deserves.

So where is the money? I’m Brian Rump, a business coach, and I’ll tell you. After almost 20 years of working with hundreds of businesses to get them money as a commercial banker, grant specialist, and consultant, I found the framework that gets you money. I understand the reality of business is that you never feel like you have enough money. To get the financial results you deserve to build the life you want, you must break this cycle. The Business Made Simple framework will do that.

As a Business Made Simple coach, I use the frameworks illustrated in How to Grow Your Small Business by Donald Miller to help you build your business for the financial results you want. We design your business like an airplane. The cockpit is your leadership, the wings are your products and services, the right engine is marketing, the left engine is sales, the body is your overhead and operations, and the fuel tank is your cash. You get to decide what your airplane looks like

and where it goes. When you build an airplane that is designed to fly far and fast, the fuel tanks will fill themselves.

So where is the money? It’s both being wasted and in your customers’ pockets. If your airplane is flying around changing direction constantly and is heavy with overhead, you are burning fuel. If you have tiny engines, customers don’t know what you sell, so they don’t buy. Put all that together, and it’s a plane that is not built to fly. What does your airplane look like?

How do we get the money? We build your business like an airplane. Once you start making changes, the plane starts flying better. Don’t believe me?

Book a free discovery call at profitcoach.ca, and let me show you how it works for your business so you can stop wondering where the money is and instead build a business that gets the financial results you deserve.

THE BUSINESS ADVOCATE • FALL/WINTER 2023

25

ASK THE EXPERTS MARKETING

2 EASY WAYS TO GET FOUND ON GOOGLE IN LESS THAN 60 DAYS Help your customers find you BY MATT GERAGHTY

Do you want to grow your business?

Whether you're an established name or a start-up, the key to a thriving business lies in telling people you exist. In a world driven by digital interactions, being visible on platforms like Google is the key to attracting more customers. This is where marketing comes into play. Your marketing should solve one simple problem – not enough people know that you exist. It’s all about telling people who you are and what you sell.

Believing that accessible, reliable advice shouldn't be hard to find.

I've made it my mission at Matty G Digital to embody these principles.

Drawing from personal experience, I understand the weight that comes with owning a small business. As a digital marketer grounded in common sense, I am dedicated to helping businesses grow. What sets me apart as an expert is my approach: purposeful planning, strategic thinking, practical execution, plus consistent, results-driven processes.

The demographics of Kawartha Lakes are changing. As more people move here, the amount of people that do not know that your business exists grows. Your online presence becomes paramount, especially on Google where people search for what you sell.

Embrace search engine optimization (SEO) as the compass guiding your visibility on Google. It’s about showing up when people are actively searching for a solution to their problems. The goal is to clearly communicate who you are, and then appear when potential customers search for you. In short, tell people you exist.

Here are two easy ways to get found on Google in less than 60 days so more customers find you: 26

THE BUSINESS ADVOCATE • FALL/WINTER 2023

1.

Title Tag: Crafting a title tag using relevant keywords that people search for is crucial. These keywords should align with how people search for what you sell.

Despite their subtlety, this “hidden” component wields immense power.

2. H1 Tag: Mastering H1 tags with relevant keywords that people search for is vital for online visibility. The H1 tag serves as the virtual "headline" of a page, needing to be readable while conveying the soul of your business. Create compelling introductions that guide users + help search engines rank your website.

Turning your online presence from lost to found is achievable. The key to showing up on Google is a strategic SEO approach, effectively managing elements like title tags and H1 tags. As a business owner, embracing these strategies can be the game-changer that transforms your digital presence and draws in the audience you've been seeking.

Do you need help getting your business found on Google? Book a call at www.mattygdigital.com. Listen to me on the Kawartha Smal Business Podcast. Or drop-in for a coffee every Monday from 8:30 AM - 9:30 AM at THRIVE Coworking Community (18 Kent Street West in Lindsay).

SPONSORED CONTENT

ASK THE EXPERTS R E A L E S TAT E

THE STATE OF REAL ESTATE A Kawartha Lakes Perspective

BY TRACY HENNEKAM

705.340.2641 SellWithTracy.com

Real estate is one of the hottest topics in Ontario. Politicians have created entire platforms around it. People talk about it - either the lack of housing, how the prices have increased everywhere, what’s affordable, and what may the real estate market look like a year or two from now.

As the Broker of Record/ Owner at Royale Town and Country Realty in downtown Lindsay, I want to be the person you think of first when it comes to buying, selling or living anywhere in the Kawartha Lakes Region. I have been helping buyers and sellers since 1999, so you can count on my experience and expertise to assist you.

I have seen the real estate market in this region double, triple and even quadruple in prices over the last couple decades. Why is the Kawartha Region such a desired area? Could it be our location to the GTA? We are close enough to commute, yet far enough to be removed from some of the not-so-desirables like smog and major crimes. With Highway 407 reaching to Highway 115, travel times have considerably dropped.

New Beginnings Start Here!

SPONSORED CONTENT

Our house prices seem a lot more affordable than those in the GTA and you get more for your dollar here. In a lot of cases, you can get a bigger yard and a bigger house. I see a lot of first-time home buyers locating to our city because of the lower house prices and they take on the commute for work purposes.

While our real estate market did see multiple offers with houses selling way more than asking price during the pandemic, real estate has slowly shifted back to what would be considered a traditional market. What does that mean for you? That means

that while prices have stabilized to a more balanced market (i.e.. there is inventory on the market for buyers to buy) the market has, for the most part gone back to the traditional ebb and flow of the seasons.

I see spring as the most desirable time to list or buy houses with the idea that a closing date may take place in 60-90 days. As the days get darker and we spend more time indoors it is easier to see our living quarters again.

Does it feel cramped? Is there room for everyone? People start to think about moving again, but ideally before the snow falls. Then the cycle starts all over again. Of course, there are many reasons why people buy or sell houses. Job offers, relocations, marriages, babies, deaths -- sometimes there is no planning for life events, so real estate sales happen in all seasons.

My prediction for the fall market is that we will see more inventory than usual in the last couple years. This means that buyers will have more choices bringing the demand a little lower. Often that also means that prices come down to compete with the inventory available. I don’t know about you but I am excited to see what the spring will look like in 2024.

THE BUSINESS ADVOCATE • FALL/WINTER 2023

27

ASK THE EXPERTS

E S TAT E P L A N N I N G / B U S I N E S S S U C C E S S I O N

USE THE RIGHT TOOL FOR THE RIGHT JOB IN THE RIGHT WAY

BY JESSICA BOLLA

Agreeing with the principle is easy, deploying it is more complex. “If the only tool you have is a hammer, it is tempting to treat everything as if it were a nail." If you are familiar or comfortable with a tool, then you may believe it to be the answer to every problem. The same is true in estate planning.

At its core, estate planning is the process of anticipating and arranging for the transfer of your assets in preparation for your death or future incapacity. A comprehensive plan integrates your personal, financial, business, and retirement plans. It may also intersect with the estate plans of others. It requires you to set out your future wishes and encourages you to engage with the parties benefiting under – or executing – your plan.

It will come as no surprise that estate planning is often pushed aside for more exciting endeavours. However, the task can be made easier and accomplish more when you understand the process and use the right tools for the job.

of interest as you work to avoid foreseeable and unforeseeable disputes.

Which is to say nothing about the vast array of financial and insurance products which can be considered where appropriate to fund estate taxes or other priorities like beneficiaries’ education.

Building knowledge often begins by asking the right questions, the answers to which can be found through collaboration with your trusted advisors.

KNOWLEDGE IS HALF THE BATTLE

IMPLEMENTATION

Many individuals know about and use a will or powers of attorney in their estate plan. Fewer understand the myriad of estate planning tools, services, and products available to respond to a growing or complex estate. A will and power of attorney are important estate planning documents that are the foundation of most estate plans, but there are more tools in the toolbox worth considering.

A sound plan should make good sense to you. If it does not, ask more questions of your advisers.

Trusts, contracts, memorandums, or even corporate reorganizations can be deployed to address your circumstances. Alternative dispute resolution or estate trustee services may be

Whether it is starting the estate planning discussion, designing, or executing on a plan, or adjusting an existing plan, we are here to help and look forward to answering your questions.

28

THE BUSINESS ADVOCATE • FALL/WINTER 2023

Estate plans can be phased and tailored to address the most pressing elements first or designed and implemented all at once. Whatever your approach, it should match your current situation and allow for updates or revisions as your circumstances change.

SPONSORED CONTENT

ASK THE EXPERTS FINANCIAL PLANNING

Celebrating

25 years

Proactive Planning for a solid future

Trust.

Integrity.

Respect.

Thank you, clients!

344 Logie Street, Lindsay, ON 705.878.3530 / 877.854.2919 mabeeandassociatespwm.com Investors Group Financial Services Inc.

SPONSORED CONTENT

PLAN TO FALL INTO A GREAT EDUCATION PLAN

BY JENNIFER MABEE

A beautiful autumn day, the crisp air, and beautiful colours! The kids are back in school, and the hustle and bustle of routine and activities has settled into full swing. Now is a great time to sit back and reflect on your children or grandchildren’s education plans.

One of the absolute best ways to save for a child’s post secondary education is through the use of a RESP (Registered Education Savings Plan).

What makes this savings vehicle so exceptional is the CESG (Canada Education Savings Grant) you can receive. With every contribution you make the Government contributes 20%, to a maximum of $500 per year, and up to a maximum of $7,200 lifetime limit per child. Both your dollars and the grant dollars are then invested in an investment of your choice to grow, with considerations of your risk tolerance and the child’s time horizon before heading off to post secondary.

Whether they do a trade, college, university, full time, or part time as long as the qualifications are met then the grants are available when they go off to school.

With the costs of education rising, it has never been so important to start while they are young. However, if you have not started yet and the children are older, there are ways to catch up on grants that can be worth considering. A question we always get is “what if they don’t go to school?” From our experience, most programs a student pursues after high school will qualify, but in the case that they choose not to pursue education post secondary, there are options of rolling the RESP to another sibling. In this case, your initial capital is never affected by them not taking a program, but government grants may need to be repaid.

“Can I have more than one RESP?” is another common question. What if both the parents and the grandparents of the future student want to contribute to a RESP? The answer is yes, it’s up to you. You can each be an owner (otherwise known as “subscriber”) and have an individual or family RESP with the same child(ren) named as beneficiary. In this case, there are limits to the total contributions and grants will only be allowed to the maximum between the two RESPs. Working with a CERTIFIED FINANCIAL PLANNER professional will help you come up with a strategy to optimize grants and run projections of education funding goals. As you know, time goes by, and the children grow up far too fast so now is the time to start planning.

Jennifer Mabee, CFP, RRC, FDS Investors Group Financial Services Inc. This is a general source of information only. It is not intended to provide personalized tax, legal or investment advice, and is not intended as a solicitation to purchase securities. Jennifer Mabee is solely responsible for its content.

For more information on this topic or any other financial matter, please contact an IG Wealth Management Consultant.

THE BUSINESS ADVOCATE • FALL/WINTER 2023

29

YOUR TAKE

WHAT CONCERNS YOU THESE DAYS WHEN YOU THINK ABOUT THE ECONOMY?

The rising cost of housing. It is becoming increasingly difficult for lower-income people, young professionals just starting, or single people to afford homes, in stark contrast to our parents' generation when a single income could suffice.

Being a new small businesses owner, my concerns are primarily interest rates and the cost of borrowing, to get ahead. It’s two giant leaps backward for only baby steps forward. It’s a long arduous road towards getting ahead financially.

MICHAEL LARIVIERE, LINDSAY

DEANNA SPENCE, PETERBOROUGH

As I raise my own kids, one question I’m navigating is how do we teach our younger generation to appreciate the value of a dollar as we rapidly move towards a cashless society? With most transactions being virtual, are we losing opportunities for tangible connections and learning about the consequences of debt?

LAURIE JOLICOEUR, LINDSAY

Big city technology.

Small town friendly service.

705-775-NEXI (6394)

nexicom.net

30

Internet Telephone Security TV

THE BUSINESS ADVOCATE • FALL/WINTER 2023

PKHBA members are professionals who strive to be the best in the industry. Home Owners can be confident that PKHBA Members are fully licensed and insured to work on your home or build your dream home.

175 George St N Suite 8, Peterborough (705) 930-1620 • www.pkhba.com

AS BUSINESS LEADERS, YOU KNOW THE VALUE OF HAVING THE RIGHT TOOLS IN THE RIGHT HANDS. THE SAME IS TRUE AT ROSS MEMORIAL HOSPITAL. It is our community of donors who ensure care providers have the equipment and technology they need to provide the best care possible.

Life-saving tools such as the community’s new MRI are 100% donor funded!

WE CAN ALL BE LEADERS IN PATIENT CARE.

705-328-6146

foundation@rmh.org

www.rmh.org/foundation THE BUSINESS ADVOCATE • FALL/WINTER 2023

THE BUSINESS ADVOCATE • FALL/WINTER 2023