Business Examiner Victoria - January 2019

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JANUARY 2019

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VICTORIA CBS Masonry Ltd. Offers Over a Century of Combined Experience

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Michell’s Farm Stands Six Generations and Counting Saanich Farm Recognized After Over 150 Years

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Property Assessments Can Be Appealed says PacWest Commercial

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INDEX News Update

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Greater Victoria

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Saanich Peninsula

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West Shore

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Who is Suing Whom 15 Movers and Shakers 16 Opinion 18 Contact us: 1-866-758-2684

OUR 30TH YEAR

BY ROBERT MACDONALD

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AANICH - It all started in 1862 when Welsh immigrant William Michell purchased 100 acres of uncleared land in the Saanich Peninsula.

Now over 150 years and six generations later, his descendants are producing over four thousand tonnes of produce each year on over 400 acres. At the end of November, the family was collectively recognized with a Lifetime Achievement Award at the Saanich Peninsula Chamber of Commerce Crystal Awards.

The family-run Michell Bros.

Farm grows over 50 varieties of fruits and vegetables, as well as hay, grain, and pasture-raised beef.

Wi l l i a m’s g reat-g ra nd son Vern Michell now owns the farm SEE MICHELL | PAGE 9

Tom Michell accepting the Lifetime Achievement Award on behalf of his family from the Saanich Peninsula Chamber of Commerce

Finalists announced for Business Excellence Awards 85 finalists for January 24 Grant Thornton LLP BE Awards Gala

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ANAIMO – Organizers of the 19 th Annual Grant Thornton LLP Vancouver Island Business Excellence Awards have announced there are 85 finalists for the annual celebration of the best of the best in Island business.

“2018 was another good year for business on Vancouver Island,” notes Mark MacDonald of Business Examiner, which coordinates the event, set for January 24 at the Vancouver Island Conference Centre in Nanaimo. “Each year, the quality and quantity of companies that take

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part in these awards is outstanding “As they do each year, these awards bring out new, exciting businesses that make the judges’ job a little tougher each year as they decide who wins each award.”

Grant Thornton LLP is now the Title Sponsor of the Awards, and along with Gold Sponsor RBC Royal Bank and Business Examiner, will host a morning-after “Breakfast For Champions” business round table for winners of the event’s 17 categories.

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Sponsor of the BE Awards this year, and Elite Promo Marketing is also a Gold Sponsor. Category sponsors include Helijet, Vancouver Island Conference Centre, Country Grocer, Wilson’s Transportation, Grieg Seafood, Invest Comox Valley, and Coastal Community Credit Union.

Categories this year are: • Automotive (car and truck dealerships & fleet sales); • Construction/ Development/ Real Estate; • Entrepreneur; • Food & Food P roduction

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(a g r ic u lt u re, s e a fo o d , fo o d products); • Green & Technology; • Health Care; • Hospitality; • Industrial Manufacturer; • Manufactured Wood Products; • Ocean Products; • Professional (legal, accounting, insurance, coaching); • Construction/Development/ Real Estate; • Retail; SEE AWARDS | PAGE 5

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NEWS UPDATE

JANUARY 2019

VICTORIA Harbour Authority Landmark Year

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The not-for-profit Greater Victoria Harbour Authority (GHVA) saw increased resident and visitor utilization of its properties throughout 2018.

In 2018 the GVHA dispensed four million liters of fuel dock at Fisherman’s Wharf, over 400,000 people used the barrier-free breakwater walkway at Ogden Poi nt, 250 cr u ise-sh ip calls were made - bringing in 640,000 visitors and 230,000 crew members and 55 community events were held on GVHA property. 2.8-million pounds of seafood were off-loaded by commercial fishing vessels at Fisherman’s Wharf, the GVHA sponsored over 30 public events, the Annual Clean Up the Shores event saw more than 50 volunteers collect 1,000 pounds of waste in two hours and Infrastructure Canada pledged $1.9-million toward the $6.8-million project to extend the mooring dolphin at Ogden Point Pier B. “We’re proud to own and operate the Ogden Point Cruise Terminal, which saw a record year for ship calls, and we’re equally proud to be stewards of other landmarks throughout Victoria, such as the Inner Harbour causeway and Fisherman’s Wharf,” says Ian Robertson, CEO of the GVHA.

VICTORIA First Nations Group Supports Major Projects Four First Nation bands are working with an initiative called the First Nations Major Projects Coalition to jumpstart hydroelectric projects. The approximately $300-million Kenney Dam Water Release Facility is the first project the coalition has taken on in its mission to create a First Nation-led service providing trusted advice and coordination on getting major capital projects off the ground.

The coalition is funded with provincial and federal grants and is designed to move beyond impact benefit agreements towards greater initiative and ownership of projects with budgets of over $100-million.

To assist First Nations in getting their projects going, the coalition provides a forum for discussions,

consultations and expertise. The coalition is not however a project manager or negotiator on behalf of First Nations.

T he organization was started in 2015 and now counts 47 members reaching as far east as Ontario. It is designed to support projects that meet standards of cultural values and environmental stewardship and demonstrate how projects can move forward. The Kenney Dam project is designed to direct overflow from the dam to a generation facility and restore water flow to a stretch of the Nechako river that was choked off when the dam was built in the 1950s.

VICTORIA Community Center Planned Plans are underway to build a community center on the historic Craigflower Manor property in View Royal.

The Victoria Highland Games Association presented an application to View Royal council to rezone the site so it can be used for various things like assemblies, a museum, café, catering, restaurant and gift shop among other things.

Craigflower Manor is a national and provincial historic site that serves as the home for the Victoria Highland Games Association. The association has been looking after the property for the past six years which has included performing maintenance on the site.

The association has been working on plans for the community center with the province and council for a few years. The current plan will see the center built on the corner of Admirals Road and the Island Highway.

The Craigflower Manor was built in 1865 for the McKenzie family which migrated to Canada from Scotland to look after the Craigflower Farm. If approved the new building will pay homage to the site’s Scottish roots.

It will be built of stone and wood and is proposed to accommodate up to 200 people and will be able to host events ranging from meetings to weddings.

Public hearings on the community center are anticipated to take place this year.

VICTORIA Pier Upgrade to Boost

Support Cruise Sector The new $6.8-million dolphins being built at Ogden Point will be ready for a record 2019 cruise season. The dolphins are heavy duty pier extensions for tying up and stabilizing ships that will enable cruise ships to pull into Pier B at Ogden Point this year.

T he Roya l Ca r ibbea n Line’s Quantum-class Ovation of the Seas will be new to Victoria this season and is scheduled to make day-long calls on Thursdays from 9 am to 6 pm. The vessel can carry up to 4,900 passengers and has a gross tonnage of 169,000.

The upcoming year is expected to bring in a record setting 265 ships carrying slightly over 730,000 passengers. Over 260,000 crew members are also on board the ships and many come ashore to shop, and sight see.

The existing Pier B is 800 feet long and a new dolphin to accommodate larger vessels was installed in 2010.

The Harbour Authority is contributing $4.926-million to the new project while the federal Ministry of Infrastructure and Communities is contributing up to $1.914-million.

The main mooring dolphin will be 58 meters west of the existing dolphin. Another dolphin will go in 34 meters north of the current dolphin.

Each will be three meters in diameter. The mooring dolphin will weigh 185,500 kilograms and the other dolphin will be 153,000 kilograms.

VICTORIA Merchant House Buys Up Blanshard Merchant House Capital has expanded its Victoria land holdings by acquiring the west side of the 1100 block of Blanshard Street.

The buy up includes the Montrose building, which occupies half of the block on the corner of View and Blanshard streets, the Monk Office supply building on the southern corner of the block and one building on Fort Street.

All of the spaces that represent about 18,000-squarefeet of commercial space have tenants and there are no immediate plans to change the block.

Some of the buildings may be up for redevelopment in the near future as they age beyond their economic lives. The Montrose SEE NEWS UPDATE | PAGE 3

NEWS UPDATE

JANUARY 2019

NEWS UPDATE CONTINUED FROM PAGE 2

building is over 100 years old and was built by Andrew Sheret plumbing company in order to host its head office in 1912.

Increases in interest rates, more difficult qualifying standards for potential buyers, foreign buyer’s tax, higher property transfer tax and vacancy tax may however contribute to delays in developments in the area going forward.

There are also concerns that the City’s increasing calls for affordable housing may cause a reduction in housing supply, thus destabilizing price points in the housing market.

VICTORIA Victoria Real Estate Market Cools in Winter A total of 498 properties sold in the Victoria Real Estate Board region this November, 25.8 per cent fewer than the 671 properties sold in November of last year and a 16.7 per cent decrease from October 2018. Sales of condominiums were down 30.9 per cent from last year in November with 152 units sold.

Sales of single-family homes were down 20.8 per cent from 2017 with 267 sold this November.

“We certainly anticipated a difference this year in terms of sales for November compared to last year,” says Victoria Real Estate Board President Kyle Kerr. “This time last year, the government announced plans to change mortgage lending qualification rules and our market saw a rush of activity as buyers tried to beat that new lending criteria which was rolled out January first.

Our ten-year average of units sold for the month of November is 515, which is likely a better comparison than to the unusual market conditions we saw last year.”

The Multiple Listing Service Home Price Index benchmark value for a single-family home in the Victoria Core in November 2017 was $832,800, while the benchmark value for the same home in November 2018 increased by 3.9 per cent to $865,200, lower than October’s value of $881,000. The MLS HPI benchmark value for a condominium in the Victoria Core area in November 2017 was $456,200, while the benchmark value for the same condominium in November 2018 increased by 9.7 per cent to $500,500, slightly less than October’s value of $502,600.

There were a total of 2,343 active listings for sale on the Victoria Real Estate Board Multiple Listing Service at the end of November 2018, an increase of 32.8 per cent compared to November 2017 but 6.7 per cent fewer than the month previous.

“Inventory continues to be low compared to historic averages,” adds President Kerr. “The ten-year average for active inventory in November is 3,204, so although it has improved compared to last year, we

are still low on choice for buyers. At the same time, waning demand has meant that there is less urgency in our market right now, which can benefit buyers and sellers. The market tends to naturally slowdown in the winter, so I’d expect we will have a more balanced market heading into the new year.”

BC Ferry Refits to Cost $57M This Year BC Ferries announced they expect to spend $57-million in the current fiscal year in the province on refitting their fleet.

The $57-million planned for this year includes working on 17 vessels from September 2018 to March 2019.

Contracts included in the estimate include Esquimalt Drydock Co. and Point Hope Maritime in Victoria as well as Seaspan’s Vancouver Drydock in North Vancouver. Work is also being done in Richmond at BC Ferries’ fleet maintenance unit.

Over the past decade, BC Ferries has spent over $1-billion at BC shipyards. Along with employing BC shipyards for refit work, the crown corporation also buys a range of services from companies within the province. This includes steel fabrication, machinery supply, electrical work and more.

VICTORIA New Audi Dealership Includes Virtual Reality The new Audi dealership in Victoria includes a dedicated hightech room, where customers can experience Audi vehicles using virtual reality. The dealership is owned by the GAIN Group which invested $25-million to build the 32,000-square-foot building for its Audi dealership and a roughly 12,000-square-foot building for its Alfa Romeo and Maserati dealership.

The new dealerships include a brick-paved driveway that runs between the two contemporary-style structures. The Audi building is fit with an interior feature on the second floor that mimics the appearance of a road with lights running through it.

Meanwhile, vehicles are positioned in the showroom in such a way that it appears they are following the roadway.

The Audi building is designed to allow drivers to pull right onto pavement between the buildings and drive into the service area. Vehicles will be serviced in a 12-station service center, compared with six stations at the dealership’s previous Yates Street location.

The Audi dealership opens on January 3 at 2929 Douglas Street while the Alfa Romeo and Maserati dealership will open at the beginning of March.

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JANUARY 2019

2018 GREATER VICTORIA TOURISM YEAR IN REVIEW

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he Greater Victoria tou r i sm i ndu st r y enjoyed a banner year in 2018 compared to the past several years. Our hotels and restaurants were full.

Our meetings, events and conferences well-attended.

Our attractions experienced brisk business. The results this year were the result of executing the strategic direction initiated in 2017. This vision encompassed a greater role for meetings, events and conferences, sports tourism and addressing the seasonality of the business. We also launched our brand refresh.

Worldwide the tourism industry is changing - and so is our destination. Our brand needs to reflect these changes.

A focus of Destination Greater Victoria and its partners is to build resiliency into the business model. Greater Victoria is traditionally a summer destination. Hotel occupancy in the shoulder seasons and off-season has lagged behind these popular summer months. In 2017, Destination Greater Victoria assumed leadership of the sales and marketing function of the Victoria Conference Centre (VCC), with a focus on filling the VCC in the shoulder seasons and off-season, in turn creating occupancy for hotel partners.

The number of delegates at VCC conferences in 2018 surpassed the 2017 numbers in September. These amazing outcomes drove hotel occupancy in the process.

T h e Greater Victor ia Sport Tourism Commission (GVSTC) was created in April 2018. Led by board chair Robert Bettauer and Executive Director Keith Wells, Destination Greater Victoria’s

business will increasingly focus on attracting sporting events to the Greater Victoria region. The GVSTC has already had some early wins, including a winning bid for the 2021 55+ BC Games. There is tremendous opportunity in sport tourism. Greater Victoria has a long history of sporting excellence, whether it is developing world-class athletes or hosting major multi-sport events. The Greater Victoria Sport Tourism Commission will build on this tradition to bid and win future sporting events in the Greater Victoria region.

Destination Greater Victoria looks forward to another strong year in 2019. It will be hard to eclipse 2018 and the success of many that work in the industry. However, the foundation is in place to market the destination and showcase the many positive attributes of Greater Victoria.

In the years ahead, we will only be limited by the size of our vision and ambition.

Paul Nursey is the President and CEO of Destination Greater Victoria

Thank-you to all of our loyal customers for your continued support. We appreciate the opportunity to work with you and wish you ongoing success in the new year.

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OFF THE COVER

JANUARY 2019

AWARDS CONTINUED FROM PAGE 1

• Small Business (under 20 employees & under $1 million in sales); • Tourism; • Trades (automotive repair, plumbing, electrical, roofing, etc.; • Business of the Year (over 50 employees & over $1 million in sales).

“We have grown to expect that nominations are generally evenly split between companies south of the Malahat, and those from north of the Malahat,” says MacDonald. “It has happened again this year, which is no surprise, as the population of both areas are very close, but it also shows the strength of the economy on Vancouver Island is spread out.”

The finalists are, by city: Campbell River Beach Fire Brewing, VI Creature Teachers, Grey River Netting Inc., Island Fever Travel & Cruise and Waypoint Insurance.

Cobble Hill Merridale Cider & Distillery.

Coombs Coombs Junction Furniture.

Comox Valley Grannies on the Go, J. Zsiros Contracting, Kingfisher Oceanside Resort & Spa, Living Room Pharmacy and The

Update Company.

Duncan Arbutus Farms, Cowichan Auto Repair, Fitstop Gym, Plante Custom Homes and Taiji Brand Group.

Langford/West Shore Fountain Tire Langford, Langford Original, The Lab Yoga & Fitness, Serious Coffee – Millstream Village, Tumblebums Play Centre & Top Shop, Clark’s Taekwondo and Dr. Joslin & Dr. Morin Associates.

Nanaimo/Lantzville Get My Kit, 250 Plumber, Coco Café, Flying Fish, Good Life Juice, Island West Coast Developments, Ivory Design Company, J.E. Anderson, Longview Brew Pub, Mazzei Electric, Meat Craft Island Butchery, NYLA Fresh Thread, Pheasant Hill Homes, Quarterway Pub, St. Jean’s Cannery, Tectonica, Vancouver Island Expedition, VMAC. Parksville/Nanoose Sartori Custom Homes, M&N Mattress Shop, McGorman MacLean, Tigh-Na-Mara Resort.

Port Alberni Alberni Aquarium and Stewardship Centre, Electron Metalworks, Jim’s Clothes Closet, Naesgaard’s Farm Market and Twin City Brewing.

Saanich Bayshore Home, Focus Hair

Design and McTavish Academy of Art. Saanichton/Sidney Peninsula Co-op, Trich A na ly tics a nd A l l Ca re Canada.

Sooke D&H Woodworks, Sooke Brewing Company, Westcom Plumbing and Gas. Tofino Crystal Cove Beach Resort, Surf Sister Surf Shop, The Factory Tofino and Tofino Food Tours.

Victoria Canadian Tire Hillside, Comfort Keepers, Compass Electric Ltd., Cornerstone Properties, Horizon Contracting, Il Covo Trattoria, Inn at Laurel Point, Juan de Fuca Veterinary Clinic, Linda Mackie Photography, Luv-ARug Services Inc., NZ Builders, Oakcrest Park Estates Ltd., Orian Construction, Pizzeria Prima Strada, Reliable Controls Corporation, Russell Books, The Truffles Group, Urban Bee Honey Farm, Urban Smiles Victoria, Vecima Networks, Inc. and Waymark Architecture.

For more information on the event contact MacDonald at 1-866-758-2684 ext. 120 or email: mark@businessexaminer.ca To book tickets ($125 each), visit www.businessexaminer. ca/events.

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250.744.3427 paula-whitehorn@mollymaid.ca

Selling Your Business – Insights on Sale Preparation tŚĂƚ ŝƐ ƵƐŝŶĞƐƐ dƌĂŶƐŝƟŽŶ WůĂŶŶŝŶŐ͍

Stepping back and looking at your business through the eyes of a potential ƵƐŝŶĞƐƐ ŽǁŶĞƌƐ ƐƉĞŶĚ Ă ƐƵďƐƚĂŶƟĂů ĂŵŽƵŶƚ ŽĨ ƟŵĞ ĂŶĚ ƌĞƐŽƵƌĐĞƐ ďƵŝůĚŝŶŐ ĂŶĚ ŐƌŽǁŝŶŐ buyer well in advance of your planned sale date can mean the difference between ƚŚĞŝƌ ǀĞŶƚƵƌĞƐ͘ KǀĞƌ ƚŚĞ LJĞĂƌƐ͕ Ă ďƵƐŝŶĞƐƐ ŽŌĞŶ ƌĞƉƌĞƐĞŶƚƐ ƚŚĞ ďƵůŬ ŽĨ Ă ĨĂŵŝůLJ͛Ɛ ŶĞƚ ǁŽƌƚŚ ĂŶĚ ƐŽƵƌĐĞ ŽĨ ŝŶĐŽŵĞ͘ tŝƚŚ ƐŽ ŵƵĐŚ ŝŶǀĞƐƚĞĚ ŝŶ ƚŚĞ ďƵƐŝŶĞƐƐ͕ ƚƌĂŶƐŝƟŽŶ ƉůĂŶŶŝŶŐ ƐŚŽƵůĚ ďĞ Ăƚ ƚŚĞ selling your business for peak value and it not being sellable at all. ƚŽƉ ŽĨ ĞǀĞƌLJ ďƵƐŝŶĞƐƐ ŽǁŶĞƌ͛Ɛ ŵŝŶĚ͘ ĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ƵƐŝŶĞƐƐ ĞǀĞůŽƉŵĞŶƚ ĂŶŬ ŽĨ ĂŶĂĚĂ It may be impossible for a business owner to detach themselves from the emoŚŽǁĞǀĞƌ͕ ůĞƐƐ ƚŚĂŶ ŚĂůĨ ŽĨ ďƵƐŝŶĞƐƐ ŽǁŶĞƌƐ ĂĐƚƵĂůůLJ ŚĂǀĞ Ă ǁƌŝƩĞŶ ƚƌĂŶƐŝƟŽŶ ƉůĂŶ ŝŶ ƉůĂĐĞ͘ tional and financial ties they have to the business they built. However, by completingdƌĂŶƐŝƟŽŶ ƉůĂŶŶŝŶŐ ŝŶǀŽůǀĞƐ ƉƌĞƉĂƌĂƟŽŶ ĨŽƌ ƚŚĞ ƐĂůĞ͕ Žƌ ƚƌĂŶƐŝƟŽŶ͕ ŽĨ Ă ďƵƐŝŶĞƐƐ ǁŚĞŶ a an objective, realistic assessment of the saleability of their company in its ƚŚĞ ŽǁŶĞƌ ŝƐ ƌĞĂĚLJ ƚŽ ƌĞƟƌĞ Žƌ Ğdžŝƚ͘ WůĂŶŶŝŶŐ ĨŽƌ ƚŚĂƚ ĞǀĞŶƚƵĂůŝƚLJ ĐĂŶ ďĞ Ă ĐŽŵƉůŝĐĂƚĞĚ current state, owners can potentially improve their ability to sell in future. ĂŶĚ ŽǀĞƌǁŚĞůŵŝŶŐ ƉƌŽĐĞƐƐ͘ /ƚ ŝƐ Ă ƉƌŽĐĞƐƐ ǁŚŝĐŚ ŝŶĐůƵĚĞƐ Ă ƌĞǀŝĞǁ ŽĨ ƚŚĞ ĐƵƌƌĞŶƚ ƐƚĂƚĞ ŽĨ Taking the necessary steps to maximize the business’ attractiveness before listĂīĂŝƌƐ ;ŝ͘Ğ͘ ƚĂdž ĞĸĐŝĞŶĐLJ͕ ƌŝƐŬ ŵĂŶĂŐĞŵĞŶƚ͕ ĞƐƚĂƚĞ ĚŝƐƚƌŝďƵƟŽŶͿ ĂŶĚ ĞdžƉůŽƌŝŶŐ ŽƉƟŽŶƐ ƐŽ ing it for sale is important. Once a business owner has gone to market and received ƚŚĂƚ ŽǁŶĞƌƐ ĂƌĞ ĂďůĞ ƚŽ ŵĂŬĞ ŵŽƌĞ ƐŽƵŶĚ ĚĞĐŝƐŝŽŶƐ͘ dŚĞ ďĞƐƚ ƟŵĞ ƚŽ ĚĞǀĞůŽƉ Ă ƚƌĂŶƐŝƟŽŶ negative feedback from a potential buyer, going back to market at a later date can ƉůĂŶ ŝƐ ǁĞůů ŝŶ ĂĚǀĂŶĐĞ ŽĨ ǁŚĞŶ LJŽƵ ĂĐƚƵĂůůLJ ƉůĂŶ ƚŽ ůĞĂǀĞ ƚŚĞ ďƵƐŝŶĞƐƐ͘ ƉƌŽƉĞƌ ƉůĂŶ result in a reduced valuation and a loss of bargaining power. You generally only get ǁŝůů ĂůůŽǁ Ă ďƵƐŝŶĞƐƐ ŽǁŶĞƌ ƚŽ ĞīĞĐƟǀĞůLJ ƚƌĂŶƐŝƟŽŶ ŝŶ Ă ǀĂƌŝĞƚLJ ŽĨ ƐĐĞŶĂƌŝŽƐ͕ ŶŽƚ ũƵƐƚ Ă one chance to make a good first impression. ƉůĂŶŶĞĚ Ğdžŝƚ͘ dŚĞ ƉůĂŶ ǁŝůů ĂůƐŽ ƚĂŬĞ ŝŶƚŽ ĐŽŶƐŝĚĞƌĂƟŽŶ ƚŚĞ ƉŽƐƐŝďŝůŝƚLJ ŽĨ ƐƵĚĚĞŶ ďƵƐŝŶĞƐƐ The price that a buyer is willing to pay for your business is directly tied to the ƉĂƌƚŶĞƌ ĚĞƉĂƌƚƵƌĞƐ Žƌ ŽīĞƌƐ ƚŽ ƉƵƌĐŚĂƐĞ ƚŚĞ ďƵƐŝŶĞƐƐ ĚŽǁŶ ƚŚĞ ƌŽĂĚ͘ following two factors: KŶĞ ŽĨ ƚŚĞ ŵŽƌĞ ĚŝĸĐƵůƚ ĚĞĐŝƐŝŽŶƐ ƚŽ ŵĂŬĞ ŝŶ ƚŚĞ ƚƌĂŶƐŝƟŽŶ ƉůĂŶŶŝŶŐ ƉƌŽĐĞƐƐ ŝƐ ǁŚĞŶ 1. the cash flows they expect to generate, and ŽǁŶĞƌƐ ǁŝůů ďĞ ƌĞĂĚLJ ƚŽ Ğdžŝƚ ƚŚĞŝƌ ďƵƐŝŶĞƐƐĞƐ͘ tŚŝůĞ ƐŽŵĞ ŚĂǀĞ Ă ƐƉĞĐŝĮĐ ĂŐĞ ŝŶ ŵŝŶĚ ƚŚĂƚ 2. the rate of return required to compensate them for the risk associated with ƚŚĞLJ ŝŶƚĞŶĚ ƚŽ ŵŽǀĞ ŽŶ͕ ŽƚŚĞƌƐ ďĂƐĞ ŝƚ ŽŶ ƚŚĞ ĐŽŵƉůĞƟŽŶ ŽĨ Ă ŵĂũŽƌ ƉƌŽũĞĐƚ Žƌ ĐŽŶƚƌĂĐƚ͘ operating the business and collecting those expected cash flows. &ƵƌƚŚĞƌ͕ ŝĨ ŽǁŶĞƌƐ ŝŶƚĞŶĚ ƚŽ ƉƵƌƐƵĞ Ă ĨĂŵŝůLJ ƚƌĂŶƐŝƟŽŶ͕ ŝƚ ŝƐ ŶŽƚ ũƵƐƚ ƚŚĞŝƌ ŽǁŶ ƟŵĞůŝŶĞ The rate of return is a function of several things, the most impactful of which ƚŚĞLJ ŶĞĞĚ ƚŽ ĐŽŶƐŝĚĞƌ͘ /Ŷ ƚŚĞ ĐĂƐĞ ŽĨ ŐĞŶĞƌĂƟŽŶĂů ƐƵĐĐĞƐƐŝŽŶ͕ ƟŵŝŶŐ ŵĂLJ ĚĞƉĞŶĚ ŽŶ being risk and growth. A company that is able to sell at top value is one that can ǁŚĞŶ ƚŚĞ ĐŚŝůĚƌĞŶ ĂƌĞ ĂďůĞ ĂŶĚ ƌĞĂĚLJ ƚŽ ƚĂŬĞ ŽǀĞƌ͘

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get a buyer to purchase a “growth story” that presents very little risk. One of the ^ŽŵĞ ŽĨ ƚŚĞ ĐŽŵƉůĞdž ĨĂĐƚŽƌƐ ŽĨ Ă ƚƌĂŶƐŝƟŽŶ ƉůĂŶ ŝŶĐůƵĚĞ ĚĞĐŝƐŝŽŶƐ ƌĞŐĂƌĚŝŶŐ ĨƵƚƵƌĞ best ways to achieve this is to demonstrate positive financial performance. Among ŵĂŶĂŐĞŵĞŶƚ͕ ĞŶƐƵƌŝŶŐ ĞŵƉůŽLJĞĞ ƐƚĂďŝůŝƚLJ͕ ĞƐƚĂƚĞ ƉůĂŶŶŝŶŐ͕ ƌŝƐŬ ŵĂŶĂŐĞŵĞŶƚ͕ ĂŶĚ ŬŶŽǁůĞĚŐĞ ƚƌĂŶƐĨĞƌ ŽĨ ƉŽůŝĐŝĞƐ ĂŶĚ ƉƌŽĐĞĚƵƌĞƐ͘ &ƵƌƚŚĞƌ͕ ŽŶĞ ŽĨ ƚŚĞ ŵŽƐƚ ŝŵƉŽƌƚĂŶƚ other factors, this includes year-over-year revenue growth and indicates to potenĂƐƉĞĐƚƐ ƚŽ ĚĞƚĞƌŵŝŶĞ ŝƐ ƚŚĞ ĐƵƌƌĞŶƚ ďƵƐŝŶĞƐƐ ǀĂůƵĂƟŽŶ͕ ĂŶĚ ƚŚĞ ŝŵƉůĞŵĞŶƚĂƟŽŶ ŽĨ tial buyers that the company presents an opportunity for continued growth as eviƐƚƌĂƚĞŐŝĞƐ ƚŽ ŝŶĐƌĞĂƐĞ ƚŚŝƐ ǀĂůƵĞ ŝŶ ƚŚĞ LJĞĂƌƐ ůĞĂĚŝŶŐ ƵƉ ƚŽ ƚŚĞ ƚƌĂŶƐŝƟŽŶ͘ Ɛ ƚŚĞ ďƵůŬ ŽĨ denced by a long-term business plan. Ă ďƵƐŝŶĞƐƐ ŽǁŶĞƌ͛Ɛ ǁĞĂůƚŚ ŝƐ ǁƌĂƉƉĞĚ ƵƉ ŝŶ ƚŚĞŝƌ ďƵƐŝŶĞƐƐ͕ ŝƚƐ ƐĂůĞ ǁŝůů ďĞ Ă ŵĂũŽƌ ƐŽƵƌĐĞ Another step that can be taken to maximize value leading up to sale is the asŽĨ ƚŚĞ ŽǁŶĞƌ͛Ɛ ƌĞƟƌĞŵĞŶƚ ĨƵŶĚŝŶŐ ĂŶĚ ŵƵƐƚ ďĞ ŵĂdžŝŵŝnjĞĚ͘ surance of well-trained, competent employees and the implementation of welltŚŝůĞ ĞƐƚĂďůŝƐŚŝŶŐ Ă ƚƌĂŶƐŝƟŽŶ ƉůĂŶ ĐĂŶ ƐĞĞŵ ŽďǀŝŽƵƐ͕ ŝƚ ŝƐ ŽŌĞŶ ƉŽƐƚƉŽŶĞĚ ĚƵĞ ƚŽ Ă defined, effective processes. These factors ensure that the business is more than ǀĂƌŝĞƚLJ ŽĨ ƉĞƌƐŽŶĂů ďĂƌƌŝĞƌƐ͘ ^ŽŵĞ ďƵƐŝŶĞƐƐ ŽǁŶĞƌƐ ŵĂLJ ĮŶĚ ƚŚĞŵƐĞůǀĞƐ ƚŽŽ ďƵƐLJ ǁŝƚŚ just the owner and will continue to be successful after they transition. Lastly, ownĚĂLJͲƚŽͲĚĂLJ ĂĐƟǀŝƟĞƐ ǁŚŝůĞ ŽƚŚĞƌƐ ƉƵƚ Žī ƚŚĞ ƉůĂŶŶŝŶŐ ĚƵĞ ƚŽ ĞŵŽƟŽŶĂů ĂƩĂĐŚŵĞŶƚƐ Žƌ ers must ensure that the business has maintained accurate books and records to ĨĂůƐĞ ĂƐƐƵŵƉƟŽŶƐ ƚŚĂƚ ƚŚĞŝƌ ĐŚŝůĚƌĞŶ ǁŝůů ǁĂŶƚ ƚŽ ƚĂŬĞ ŽǀĞƌ ƚŚĞ ĨĂŵŝůLJ ďƵƐŝŶĞƐƐ͘ /Ŷ ĂŶLJ convey the financial health and accountability of the company. ĞǀĞŶƚ͕ ŝƚ ŝƐ ŝŵƉŽƌƚĂŶƚ ƚŚĂƚ ŽǁŶĞƌƐ ŵƵƐƚ ŽǀĞƌĐŽŵĞ ƚŚĞƐĞ ďĂƌƌŝĞƌƐ ĂŶĚ ĞƐƚĂďůŝƐŚ Ă ƉůĂŶ If you have made the decision to sell and your company is not ready, you may ĨŽƌ ƚŚĞ ĨƵƚƵƌĞ͘ run the risk of diminishing the value of your business, resulting in a negative effect tŚŝůĞ ƚƌĂŶƐŝƚŝŽŶ ƉůĂŶŶŝŶŐ ĐĂŶ ďĞ Ă ĐŽŵƉůĞdž ĂŶĚ ĞŵŽƚŝŽŶĂů ƵŶĚĞƌƚĂŬŝŶŐ͕ ǁĞ ĐĂŶ on your ability to enjoy the fruits of your labour either in retirement of in the next ŚĞůƉ LJŽƵ ĂĐŚŝĞǀĞ ƉĞĂĐĞ ŽĨ ŵŝŶĚ ďLJ ŐƵŝĚŝŶŐ LJŽƵ ƚŚƌŽƵŐŚ ƚŚĞ ƉƌŽĐĞƐƐ ĂŶĚ ŐŝǀŝŶŐ LJŽƵ phase of your career. It also means you will have fewer years to enjoy the fruits of Ă ďĞƚƚĞƌ ĨƌĂŵĞǁŽƌŬ ĨŽƌ ƐŽƵŶĚ ĚĞĐŝƐŝŽŶ ŵĂŬŝŶŐ͘ tĞ ĐĂŶ ŚĞůƉ LJŽƵ ĐƌĞĂƚĞ Ă ƉůĂŶ ĨƌŽŵ your labour either in retirement or in the next phase of your career. Plan ahead ƐƚĂƌƚ ƚŽ ĨŝŶŝƐŚ͕ ŐŝǀŝŶŐ LJŽƵ ƚŝŵĞ ƚŽ ǁĞŝŐŚ LJŽƵƌ ŽƉƚŝŽŶƐ͕ ŵĂŬĞ ŝŶĨŽƌŵĞĚ ĚĞĐŝƐŝŽŶƐ start now to address key areas of your business that need improvement so you can ĂŶĚ ƌĞĂĚLJ LJŽƵƌƐĞůĨ ĂŶĚ LJŽƵƌ ďƵƐŝŶĞƐƐ ĨŽƌ ĨƵƚƵƌĞ ƚƌĂŶƐŝƚŝŽŶ͘ &Žƌ ĨƵƌƚŚĞƌ ŝŶĨŽƌŵĂƚŝŽŶ reap greater benefits sooner. For further information and guidance, please contact ĂŶĚ ŐƵŝĚĂŶĐĞ͕ ƉůĞĂƐĞ ĐŽŶƚĂĐƚ WĂƵů ,ŽůŵĞƐ Ăƚ ^ĐŽƚŝĂ tĞĂůƚŚ DĂŶĂŐĞŵĞŶƚ ĨŽƌ Ă Paul Holmes at Scotia Wealth Management for a consultation. ĐŽŶƐƵůƚĂƚŝŽŶ͘

GREATER VICTORIA/SAANICH PENINSULA

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JANUARY 2019

GOOD BUSINESSES KEY TO GREAT COMMUNITY TOUR OF INDUSTRY 10TH SEASON

GREATER VICTORIA CATHERINE HOLT

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mission statement should capture the reason an organization exists, while its vision statement explains what it will become if it achieves its aspirations.

Summing up this concept in short, memorable phrases help an organization focus its time and resources. If your organization is going through this process you might find it helpful to learn how The Chamber came up with our new statements.

Last fall, we worked with our board of directors on a mission and vision that will guide us for the next four years.

We decided ou r m ission is that we are: Working together to build good business and great community.

T h i s s t atement e x pre sse s

several important things about The Chamber.

Members work together to help each other with business community contributions, and even personal challenges. As an organization, we work with other associations and community leaders who are taking an active role in ensuring our region prospers.

We also build good business.

This phrase has two meanings that capture the spirit and intent of The Chamber. We want our members to prosper, to be doing “good business.” We also want to make the right kind of contributions to our community. Good business is positive and important.

Bu i ld i ng g reat com mu n ity means more than helping the “business community.” Business is an essential part of community and we shouldn’t separate the two.

Businesses contribute in ways that make our region a better place. They donate, sponsor, volunteer, mentor, advise, lead, invest, employ and pay taxes.

If we succeed at working together to build good business and great community, we will achieve our vision: The Chamber is the region’s most diverse and influential business association.

As with the mission, the vision should resonate with anyone who

wants to understand who we are and what we hope to be.

There are a few important concepts embedded in our vision statement. First, we see ourselves as advocating for the whole region. That’s why our name is the Greater Victoria Chamber of Commerce.

To do that, we have to be diverse.

We work on behalf of businesses from all 13 local municipalities and beyond. We include big organizations and small businesses. We need long-time members who provide stability, and new members who bring ideas that constantly rejuvenate us. We also want to represent every sector: retail and hospitality, tech, arts, sports, manufacturing, professional services, finance, education, public and not-for-profit.

A nd we need a diversity of faces at our events and around our board and committee tables.

We want everyone who supports the mission of The Chamber to have the opportunity to work together, including new arrivals, indigenous people, young and old, men and women and everyone in between. We benefit from every additional point-of-view and personal contribution.

Catherine Holt is CEO of the Greater Victoria Chamber of Commerce

SAANICH PENINSULA DENNY WARNER

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appy 10th birthday to the Saanich Peninsula Chamber of Commerce’s Tour of Industry! It has endured because it facilitates purposeful interaction between community members, local decision-makers, and the entrepreneurs that fuel our economy.

It’s dead easy to get businesses to participate in the Tour, despite the not insignificant interruption of accommodating and entertaining the 56 people traipsing through their buildings, because the connection opportunities are invaluable. The owner/manager completes a questionnaire providing information about the size of the business, the number of employees, how and why they chose to locate here and the challenges and benefits of operating

5PM FLASH

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helijet | 1.800.665.4354

on the Peninsula. This wealth of material is provided to our guests in booklet form the morning of the Tour. The site visits are more fascinating than you might think.

Our hosts are rightly passionate about their businesses and their excitement is palpable.

Our organization plays a meaningful role acting as a conduit between business, politicians and the community at large.

These disparate groups benefit by having greater interaction but have few occasions to do so. The networking that happens on our Tours is phenomenal. Numerous productive relationships have been sparked on Tours between fellow guests and the business hosts.

Many of the businesses we visit are competing successfully on the international stage, operating from nondescript locations where few members of the public breach their doors. The Tour of Industry offers access to operations most people will never see.

Nothing good happens without our sponsors and this year we were pleased to welcome partners Telus, PureFibre and Wilsons Transportation.

Denny Warner is the Executive Director at the Saanich Peninsula Chamber of Commerce.

7

JANUARY 2019

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8

JANUARY 2019

BEER, WINE, AND SPIRIT PRODUCERS NEED GOOD IMAGES TO THRIVE ITS-Food.ca - Professional Photography to Beverage Industry

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ANAIMO - The craft beverage industry has been launched into the mainstream over the past couple of years, with many new breweries, cideries, wineries, and distilleries popping up all over British Columbia.

With the growing competition, these establishments are turning their marketing in new directions, and Tim McGrath of ITS-Food.ca is paying attention.

“With the introduction of initiatives like the BC Ale Trail, wineries, craft breweries, and craft distillers are finding new ways to grow their business,” says McGrath. “With these new directions, it is imperative that these operations have high-quality images that represent their products well.”

ITS-Food.ca specializes in food photography, creating images for cookbooks, food suppliers, restaurants, and other areas of the food world.

“Shooting bottles in particular is very difficult,” McGrath continues. “Getting the correct

Professionals need to consider a variety of factors to take good photos of bottles lighting and angle is no easy task, and there are many mistakes that amateurs tend to make.”

Imagery in the craft beer and cider world has been changing dramatically over the past five to 10 years, especially with the rise in the product’s popularity. Only a professional is able to stay on top of these trends and take the most effective photos.

“Because of the shape of the bottle, it takes a lot of skill to get the label looking right,” he says.

“If you light it incorrectly, the

With the recent explosion in the craft beverage industry comes a new demand for high-quality images that help companies stand out

“Shooting bottles in particular is very difficult.

Getting the correct lighting and angle is no easy task, and there are many mistakes that amateurs tend to make.”

TIM MCGRATH OWNER OF ITS-FOOD.CA

back label can bleed, tarnishing the image. Every shadow has an effect on the image, and it’s difficult to ensure the label is well articulated.

“Many of these business owners are excellent at what they do, but just because you can make a good drink, it doesn’t follow that you know how to take a good photo of the product. If you wouldn’t trust an amateur to create your product, why would you trust an amateur to take your images?”

According to McGrath, the rise of social media means that high-quality photos of food and beverage products are more important now than they’ve ever been before.

“People will tell you they sell the sizzle, not the steak, but in reality, the eyes communicate with the brain faster than the nose or taste buds,” he says. “Customers may remember the smell or taste for a longer period of time, but if it doesn’t look good, they don’t care what it smells like.

“Most people aren’t very good at taking pictures,” he continues.

“Go through the last 30 pictures on your phone. How many have something off putting in the background, or have poor lighting with a shadow in the wrong place? I know what to look for and what to portray.” www.ITS-Food.ca

DON’T LIKE THE PROPERTY ASSESSMENT? THEY CAN BE APPEALED

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t’s that time of year when annual property assessment notice d isplaying 2019 property assessment values and classification arrive.

T h i s ye a r’s not ic e s a re e s p e c i a lly i mpor ta nt a nd deser ve close i ns p e c t ion g iven t he on goi n g re cord increases in com mercial, industrial

Property taxes too high? ✦ Is your 2019 Property Assessment value fair? ✦ Is your assessment value equitable? ✦ Is your property tax classification correct? ✦ Have you received all available property tax exemptions? ✦ Should you file an appeal?

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and investment property assessment values over the past year in most areas of the province. It is from this estimation of com mercia l or i ndustria l property assessment values that local govern ments a nd the P rov i nce w i l l determine how much overall property tax is paid this year.

The BC Assessment Authority is responsible for the annual valuation of almost 2,300,000 properties in B.C. with its 700 employees, but it remains the property owners’ responsibility to rev iew a nd appea l the notices to ensure they are fair and equitable.

And what if someone doesn’t agree with the assessment value or classification? Perhaps they believe it’s too high, or in some cases, too low. Can anything be done about it?

Yes, but appeals must be filed on or before January 31, 2019. T here is no fee to file an appeal at this first level of review.

T i m D ow n , P re s id e nt of PacWe st Com m erci a l Re a l E st ate A dv i s ors , which specializes in annual property assessment appeal services throughout B.C., notes, “If an assessment is incorrect, the owner will be paying more property tax now and into the future, so they need to ensure that they have been assessed fairly and consistently.

“Property taxpayers have a right to either the lower of the actual market va lue, or t he equ itable a ssessment value for their property,” Down adds.

“It should be no higher than a similar, competing property in their taxing jurisdiction. For example, a commercial

property in a downtown location should not be assessed at a higher rate than a similar neighboring property.”

Down believes the significant property assessment value increases this year will result in even larger inequitable increases for many property taxpayers if not carefully reviewed and challenged. Also, local governments are increasing property taxes to shore up funding for emerging social initiatives and strategies. These increases tend to place a higher burden of taxation on the non-residential taxpayer.

Development land values and classification will continue to be an issue for property taxpayers with the BC Assessment Authority taking aggressive valuation and taxation policy positions in the application of higher tax classifications for mixed use developments and agricultural lands.

BC Assessment Authority continues its trend to aggressively pursue assessment valuation policies and property tax classification initiatives through lega l cha l lenges that w i l l have long lasting impacts on all non-residential property taxpayers.

It’s better to stay informed and vigilant these days, Down says, pointing out that property taxes, after mortgage and lease costs, are the largest annual operating expenses for property owners. Once the appeal deadline has passed, property taxes cannot be appealed. He adds that property taxes go straight to the bottom line performance of all real estate assets. www.pacwestrealestate.ca

OFF THE COVER

JANUARY 2019

MICHELL CONTINUED FROM PAGE 1

along with his sons Terry and Tom. They are joined by Vern’s g ra ndch i ld ren Kevin, Greg, and Nicole, who help with field work, livestock, and the market respectively. Though Vern’s great-grandchildren are not yet old enough for the demanding labour, Saanich may one day see a seventh generation participate in life on Michell Bros. Farm.

With Vern now in his 80s, Tom and Terry run most of the dayto-day operations with help from their children. However, much of the farm’s success would not have been possible without the hard work of previous generations.

“My great-grandfather bought the property in 1862 for under 100 dollars,” says Vern. “He bought a horse, a couple of cows, some chickens, and some hand tools for clearing land - all for under 500 dollars. That was their start.”

After clearing some logs and building a cabin, William planted a garden. Between the livestock and produce, his family was able to support itself, clearing out more land and increasing the

The Michell Bros. Farm Market at the corner of the Pat Bay Highway and Island View Road farm’s size.

For the next two generations, Vern’s grandfather, father, uncles, and aunts continued to grow the family farm, gradually clearing more property.

“When my brother and I were in our late teens, we had saved up some money and were given an opportunity to buy 20 acres each,” says Vern. “On this property, we started to grow strawberries and loganberries, which would be turned into jam.

“Back then, we did all the planting by hand. Eventually, we were able to buy a two-row strawberry

DO WE NEED TO BUCKLE UP FOR 2019?

WEST SHORE JULIE LAWLOR

W

hat is 2019 going to bring? As I reflect on what’s taken place this past year, I do have some concerns for the business community. A constant theme I heard in 2018 was that finding and retaining staff is a real struggle for any number of industries. Employers previously offering minimum wage are offering more to attract staff, and in many cases they are still not finding enough people.

Lack of staff logically means that businesses cannot grow, develop and further contribute to the economy. In the worst cases, businesses are closing. In the better cases, businesses are making do as best they can, from owners working the front lines to curtailing opening hours.

The introduction of the Employer’s Health Tax will put further pressure on business owners and of course they are not alone.

As municipalities put together their 2019 budgets and consider how to fund the EHT, one option will be to increase property taxes.

This has a ripple effect across communities. Another impact

is the Speculation Tax, which is going ahead despite strong concerns voiced at the Union of BC Municipalities gathering in September. In the WestShore, Langford Mayor Stew Young is already seeing the impact of investment going elsewhere and construction projects being deferred as a result of this tax. This impacts jobs and the overall strength of the local economy and has a ripple effect on both disposable income and payment for necessities.

So, what can we do about these pressu res? We need to keep speaking up. Talk to your local Chamber and provide them with information and data about how your business is impacted so that they have tangible facts to use in their advocacy work.

I also encourage you to join the BC Chamber of Commerce MindReader platform. Through this platform, the BC Chamber will ask you about topics impacting on business. Your response will allow you to directly contribute to the insight that the BC Chamber brings forth to both the provincial and the federal governments.

Please go to bcchamber.org for more information on the Mind Reader platform. For more information on the WestShore Chamber of Commerce, please go to westshore.bc.ca Julie Lawlor is the Executive Director at the WestShore Chamber of Commerce. You can reach her at jlawlor@westshore.bc.ca

planter that we pulled behind a tractor. My wife, Dorothy, would help with the planting, along with a farm hand.”

Eventually, Vern and his family took on the entire farm, which focussed on growing potatoes as its main crop. In the 1980s, hysteria surrounding the golden nematode blight resulted in a government ban on growing potatoes, prompting the Michell family to branch out in new directions, growing dozens of unique crops.

To this day, their wide array of produce can be purchased at the Michell Bros. Farm Market at the

corner of the Pat Bay highway and Island View Road.

Since the farm’s beginning, the Michell family has adapted to meet each challenge and utilize newer, more efficient technology.

Crops that were once planted by hand are now planted with stateof-the-art machines.

With so many crops, the farm fills delivery trucks, using strategic double cropping (planting twice within the same growing season) to maximize their harvests.

According to Vern, the Saanich Peninsula is one of the best areas

9 for farming on the continent.

“I believe we have the cleanest air in Canada, maybe in North America,” says Vern. “We have very little pollution with how close we are to the ocean, and with almost no crop-killing frost.

We get a lot of rain in the wintertime for storing in reservoirs (for the drought season). I think we grow the best strawberries in the world, and the corn on Vancouver Island is some of the best you can get. Customers tell us it’s better than Alberta corn.

Moving forward, Vern and his family hope to pass the farm down to further generations.

Tom, Terry, and their children will continue to adapt to industry changes, keeping up with emerging farming technology.

“After all these years, we’ve got into crops that suit each portion of our land,” concludes Vern.

“We’ve got land in the valley, land near the ocean, land that f loods, land that grows good carrots - that land isn’t going to change. We’ll continue to grow a wide variety of crops out here.

We’re also hoping to continue raising cattle.” www.michellsfarm.com

We’ll be celebrating the very best in 2018 business on Vancouver Island on January 24 And you’re invited to join us at the Vancouver Island Conference Centre!

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JANUARY 2019

CBS MASONRY BUILDS STRONG CUSTOMER SERVICE REPUTATION “CBS Masonry Ltd. Family-Owned and Operated Business Boasts Well Over a Century of Combined Experience

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ICTORIA - CBS Masonry Ltd. has built an outstanding reputation for customer service brick by brick.

Co-owned by Charlie Sims and his son Ashley Sims, the company boasts a combined 177 years of experience, offering a full range of masonry products and services, as well as design and consulting services (for an additional fee).

Over the last six years, the company has been recognized as finalists for the Better Business Bureau (BBB) Torch Awards Gala presentation night, winning on three occasions, and placing second three times.

“CBS Masonry Ltd has built a very strong reputation in our community (Victoria and the surrounding area), and we’re very proud of it,” says Charlie.

“We’re a family business that puts quality above all else, and we’ve been recognized for that on several occasions.”

The team is supported by Charlie’s wife Gina, who works as the company’s Office Manager, and Ashley’s wife Samantha, who handles duties including performing on-site checks, collecting payroll, managing the maintenance schedule, and more.

Both owners have an extensive background in the industry.

Charlie has been working as a stone mason and bricklayer for over 45 years, starting a threeyear apprenticeship in the UK at age 16. This was followed by two years of additional training in blueprint reading, Quantity Surveying, on-site works/project scheduling and works/project estimating.

After building a reputable business with his father, Brian, Charlie moved to Ontario to build a professional masonry company.

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has built a very strong reputation in our community (Victoria and the surrounding area), and we’re very proud of it. We’re a family business that puts quality above all else, and we’ve been Chimney work completed by CBS Masonry Ltd.

recognized for that on several occasions.”

CHARLIE SIMS CO-OWNER OF CBS MASONRY LTD.

Charlie (Right) and Ashley (Left) Sims are the co-owners of CBS Masonry Ltd.

Shortly after, his sons, Adrian and Ashley, began to learn the trade in the family business.

Ashley has been working with Charlie since he was 14, working on the weekend while the family was living in Ontario. From an early age, he has been interested in working with tools, and using a trowel to play around with bricks and masonry cement mortar.

“He slowly and with great enjoyment took to his part time work, a nd as the yea rs progressed, I could see that working with masonry, he had a natural flare for advancement in this

CBS Masonry Ltd. has built a reputation for excellence by successfully completing a wide variety of projects field, then progressing to using bricks and creating his own projects,” says Charlie.

After completing a three-year apprenticesh ip i n the a rt of bricklaying and stone masonry at the London Institute of the UK, Ashley has worked for about 12 years, developing a reputation for excellence in his field, being very conscientious with an eye for detail.

Joining Charlie as a partner in August 2017, Ashley has been praised for his perfected skills and close attention to detail.

Customers have responded to his work by nominating the company for BBB Torch Awards and offering overwhelmingly positive reviews of the business since joining BBB of Victoria six years ago.

Ashley now runs approximately 80 per cent of the company, organizing and operating most of the day-to-day operations, including dealing with estimates and quotes, customers, employees, and project coordination, residential, contractors, property management, property strata’s, co-op housing, VISOA and CRD

to name a few. Further information is available on the company website.

Charlie continues to run the family business as the company’s Director, but will still pick up the tools if he’s needed on a job site, especially as busy as the company is (with five months of scheduled projects).

With 12 employees on payroll

and a fleet of nine company vehicles, CBS Masonry Ltd. offers a host of services that includes: specialty works in the repair, rebuild, renewing or replacing of chimney stacks, restoration work, natural stone/rock work, ornamental feature work, flagstone, patios, sidewalks, pathways, concrete and more.

With a commitment to highend professionalism and customer service excellence, and with trust, performance and integrity, the company holds itself to the same high safety (WCB) quality and production standards for every project, from the biggest to the smallest.

Whether a client is looking for masonry contractors, rock and stone masons, bricklayers, or tile installers, CBS Masonry Ltd. has a certified crew that is able to meet almost any need with a high degree of professionalism.

I n a recent i nter v iew w ith the BBB, Charlie stated, “It’s a pleasure at CBS Masonry Ltd. to have such a hard-working, great crew, who Ashley and I are very proud and privileged to have as employees. Our team works very hard with pride and aims to deliver continuous ‘quality workmanship.’ Both Ashley and I will continue to work hard to make CBS Masonry Ltd. a successful and reputable family owned and operated company.” www.cbsmasonry.com

CBS Masonry Ltd. work at a church in Oak Bay

PRINTING

JANUARY 2019

11

PRINTING Strong Print and Signage Industry Crucial Business Success Print and Signage Innovation Continues, Everyone Benefits

P

ri nt a nd sig nage a re everywhere.

From the colour and logos on your take-out espresso cup, to the shrink wrapped transit bus you went to work on this morning, to the logos on the computer you worked on all day – somewhere down the line a designer and a printer played pivotal roles in making your day better informed and more enjoyable.

The industry is one of the most technologically advanced sectors in Canada. Under the umbrella of print we find digital printing, forms, bank notes, magazines, newspapers, stationa ry a nd screen printing to name a few.

There are also the sub sectors such as pre-press, design, direct mailing, bindery work and delivery.

Those in the field have been challenged to be creative and

attentive to emerging technologies, to move from standard one-dimensional print products to learning the world of digital, staying abreast of new printers which have changed from mammoth machinery to smallish specialized machines able to construct 3-dimensional products.

The latter allows the creation of a 3D printed complex object from a digital file. Especially useful in prototypes, architectural models.

With the recent oversaturation of the digital advertising markets, many companies are finding it more and more difficult to get their message heard.

With a majority of North Americans using their phones for communication, information, direction, and more, the digital sphere is posing a challenge for companies seeking to attract

new clientele and increase brand recognition.

Far from becoming obsolete, print marketing is proving itself as an important vehicle for companies who seek to stand out.

More companies are turning back to flyers, brochures, and direct mail campaigns to seek out new business.

Additionally, improvements in technology are resulting in new ways of integrating print and digital marketing, allowing businesses to target new business more effectively, with greater precision.

Recent employment statistics indicate that the nation’s print industry employs over 50,000 people in 6,000 different businesses, making it the fourth-largest manufacturing employer in Canada. With over 6,000 British

Columbians in the industry, organizations like PrintForward have been created to speak on their behalf.

PrintForward is a trade association that aims to promote and advance the best interests of the printing industry, particularly in BC and Western Canada.

It is described as “a recognized voice of the printing industry and provides its members with one of the most dynamic partnership arrangements of any association in North America.”

This arrangement gives members access to resources including membership in Printing Industries of America, premium membership in Whattheythink.com, and access to resources through association membership in the BC Alliance for Manufacturers. www.printforward.org

PRINTING

JANUARY 2019

13

FASTRAC PRINT & MAIL OFFERS ONE-STOP DIRECT MARKETING SERVICE delivered in context with their needs and circumstances. Studies prove that clients are far more likely to read a targeted piece of Direct Mail, as opposed to an online ad or an email. Canada Post research reveals that Direct Mail gets a huge open rate of around 80 per cent.”

Fastrac uses multiple sources to help clients acquire the most effective mailing lists possible, enabling them to test and uncover

Victoria Company Combines Direct Marketing and Digital Printing Expertise to Offer Comprehensive Service

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ICTORIA AND NANAIMO - Thanks to its unique blend of digital print and strategic marketing services, Fastrac Print & Mail is helping businesses gain customers and enhance profits with Direct Mail.

Established by Print and Direct Mail specialist Greg Hawes, Fastrac offers a comprehensive Direct Mail service, including strategy and planning, list and data management, creative and artwork production, printing and personalization, enclosing and mailing.

Additionally, the company offers supporting digital marketing services, often combining physical and digital components to maximize campaign reach and results.

Hawes is joined by Martin Hubbard, with over 26 years of experience working in Direct Marketing with major companies in the UK and Europe. Hubbard’s previous clients include British Telecom, Time Life Books, Fortune Magazine, Glenlivet Whisky and Black & Decker, together with well-known brands in the Banking and Insurance sectors, and more.

Effective use of Direct Mail campaigns is one of the best ways for many companies to reach and interest new customers “We ca n help cl ients better understand how to implement Direct Marketing, or improve their existing results,” he says.

“We bring a very down to earth view into our process. We plan carefully and work collaboratively.

In the end, you will understand exactly how much business our work has generated, and where it could lead you.”

The Fastrac team work with an experienced network of Creative Design and Copywriting professionals to deliver a complete

service for their customers. According to Hubbard, effective use of Direct Mail is one of the best ways for many companies to reach and interest new customers.

“Marketing is in the midst of some major changes right now,” says Hubbard. “There’s been an awful lot of digital overload for people, and Direct Mail can be an extremely effective alternative or addition.

“When someone receives properly targeted Direct Mail, they get a different, tactile, engaging and personalized experience that is

new business outside of their existing customer base. Fastrac is also a fully accredited Canada Post Smartmail Marketing Partner.

Interested? - Fastrac offers a free consultation to help companies identify opportunities and efficient strategies to realize them.

To find out more, contact Martin at 250-882-2765 or martin@fastracprinting.com. www.fastracprinting.com

PRINTING

14

JANUARY 2019

FOTO PRINT & ROLEX PLASTICS BRING ALL-IN-ONE SERVICE TO VICTORIA Foto Print and Rolex Plastics Join Forces to Create One-Stop Printing Entity

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IC T OR I A – Foto Print, Rolex Plastics & Printing Ltd., and BC Lawn Signs have joined forces to become one of Vancouver Island’s most comprehensive printing service providers.

Rolex Plastics owner Sam Soliman recently acquired Foto Print, one of Victoria’s lead i ng paper pri nti ng companies. Combined with Rolex’s custom plastic and vinyl products & services, the new entity is now able to meet more needs than ever.

“Now, we can offer more choice, more convenience and more service utilizing our creative team and our modern equipment for the benefit of our customers,” says Soliman. “We are truly a one-stop shop.

Our services are highly integrated, and enhanced by our staff of experienced employees - some of whom have been here for 20 and 30 years.”

Additionally, the comp a n i e s h a v e i n-h o u s e graphic designers, which helps streamline the printing process and provides an additional convenient service. According to Soliman, no job is too small or too big for the company, and they happily accommodate customers of all kinds. “ We a r e a l s o v e r y proud of our green

Sam Soliman, owner of Foto Print, Rolex Plastics, and BC Lawn Signs manufacturing practices,” Soliman continues. “We focus on using environmenta l ly-friend ly material whenever possible, and because we’re local, greenhouse gas emissions from transportation is kept to a minimum.”

Foto Print was founded in 1975, and has deep roots in the city. It has established a reputation for both high quality products and “lightning fast” turnaround times for its projects. They lead the area as a top-tier printer, designing and printing business cards, flyers, newsletters, booklets, postcards, rack cards, brochures, posters, banners & signs, and more for customers all over the Island.

The staff of experienced pri nters a re k now n for their attention to detail, using accurate, calibrated colour on all their jobs.

This ensures a high-quality finished product with vivid colors.

Foto Print’s counterpart, Rolex Plastics, was founded in 1972, building its own strong reputation on the

Island. With their expertise in vinyl and plastics printing, their services are highly sought-after. Rolex Plastics has loyal customers throughout the Island, Vancouver, and all of British Columbia.

The company is known for its high quality branded manufactured products such as bi nders, c l ip b o a rd s, a n d o t h e r vinyl products which are sold to major universities & colleges, training organizations, government offices, and private enterprises throughout North America.

Completing the trio is BC Lawn Signs, a subsidiary of Rolex that is in high demand for commercial businesses whose objective is to expand their branding.

They are especially popular during election season. The companies operate out of nearly 25,000 square feet of combined space in their two locations.

To find out more, visit www.fotoprint.ca, www. rolexprinting.com, and www.bclawnsigns.com.

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WHO IS SUING WHOM

JANUARY 2019

WHO IS SUING WHOM The contents of Who’s Suing Whom is provided by a third-party resource and is accurate according to public court documents. Some of these cases may have been resolved by publication date.

DEFENDANT 0795382 BC Ltd 2595 Napier St, Vancouver, BC PLAINTIFF Island Architectural Millwork Ltd CLAIM $34,308 DEFENDANT 0893730 BC Ltd 202-15388 24th Ave, Surrey, BC PLAINTIFF J Robbins Construction Ltd CLAIM $30,230 DEFENDANT 1028462 BC Ltd 1250 Wharf St, Victoria, BC PLAINTIFF Sysco Canada Inc CLAIM $22,699 DEFENDANT 1070648 BC Ltd 714 Sayward Rd, Sayward BC PLAINTIFF Super Save Enterprises Ltd CLAIM $35,236

DEFENDANT C&W Campbell Homes 7th Flr 1175 Douglas St, Victoria, BC PLAINTIFF Filippino, Tina CLAIM $22,176 DEFENDANT Brunnell Construction Ltd 7th Flr 1175 Douglas St, Victoria, BC Mcintosh, Donald CLAIM $6,716 DEFENDANT CD Construction Drilling Inc 700-570 Granville St, Vancouver, BC PLAINTIFF Varsteel Ltd CLAIM $21,140 DEFENDANT Guild Freehouse 1250 Wharf St, Victoria, BC PLAINTIFF Sysco Canada Inc CLAIM $22,699 DEFENDANT HTL Transport Ltd 205-17619 96 Ave, Surrey, BC PLAINTIFF Rush Canada Transport Ltd CLAIM $12,804 DEFENDANT Island View Tree Service And Stump Grinding Ltd

3rd Flr 26 Bastion Square, Victoria, BC PLAINTIFF Carr Harris, Brian Geoffrey CLAIM $34,455

2595 Napier St, Vancouver, BC PLAINTIFF Island Architectural Millwork Ltd CLAIM $34,308

DEFENDANT J Lealand Contracting Ltd 2955 Henry Rd, Chemainus, BC PLAINTIFF Morneau, Ian John Todd CLAIM $35,216

DEFENDANT Playtime Gaming Group 1600-925 West Georgia St, Vancouver, BC PLAINTIFF Island Architectural Millwork Ltd CLAIM $34,308

DEFENDANT Karandy Enterprises Ltd 1202 Fort St, Victoria, BC PLAINTIFF Designhome Concepts Ltd CLAIM $21,555 DEFENDANT Lilyannas Hair Salon 215-440 Schley Pl, Qualicum Beach, BC PLAINTIFF Arbutus Mall Ventures Ltd CLAIM $7,586 DEFENDANT North Island Automotive Ltd 445 Crown Island Blvd, Courtenay, BC PLAINTIFF Sandulak, Bernard Mervin CLAIM $21,099 DEFENDANT Paramount Projects

DEFENDANT Quadra Management Ltd 200-1260 Shoppers Row, Campbell River, BC PLAINTIFF Rogers, John CLAIM $8,341 DEFENDANT Resolution Construction Systems 14-555 Ravenwoods Dr, North Vancouver, BC PLAINTIFF Finnish Line Woodworking CLAIM $6,597 DEFENDANT Rodgers Fishing Lodge 200-1260 Shoppers Row, Campbell River, BC PLAINTIFF Rogers, John CLAIM $8,341

15 DEFENDANT Rodgers Marine Adventures Ltd 200-1260 Shoppers Row, Campbell River, BC PLAINTIFF Rogers, John CLAIM $8,341 DEFENDANT Sherwood MHP Inc 303-1001 Cloverdale Ave, Victoria, BC PLAINTIFF Hebert, Calvin Leslie J CLAIM $30,847 DEFENDANT Tall Tree Festival Society 977 McBriar Ave, Victoria, BC PLAINTIFF Richlock Rentals Ltd CLAIM $35,196 DEFENDANT Richlock Rentals Ltd 3342 Oak St, Victoria, BC PLAINTIFF Frank Ryan Contracting Ltd CLAIM $19,191 DEFENDANT Wom Mastercraft Construction Ltd 201-19 Dallas Rd, Victoria, BC PLAINTIFF Baker, Toby CLAIM $24,122

16

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V i c tor i a’s Ca r m a na h Technologies is selling its marine lighting business and other assets in a sale wor th $77-m i l l ion US. The sale to North Carolina-based SPX Corporation represents just under h a l f o f t h e c o m p a n y, founded by David Green in 1996 to develop solar powered marine lighting. The sale will allow the company to focus on their remaining business which includes traffic signaling devices, solar-powered lighting for streets and pathways, solar-powered asset-tracking devices and safety and marking solutions for offshore w i nd fa rms. T he deal is expected to net the company $73.5-million US, which is expected to result in the company having a cash balance of around $88-million US. T im Ta nton h a s b e en named the new chief administrative officer for the District of North Saanich to repl ace t he ret i r i ng Rob Buchan. Tanton is an engineer who previously held positions as director of infrastructure services in North Saanich and integrated water services at the Capital Regional District.

Tanton begins his new role on January 7.

T h e Pa ci f i c Fo o tb a l l Club which starts its first season next spring in the inaugural season of the Canadian Premier League, has opened a merchandise store at 665 Fort Street.

The soccer season will run from April to October and season ticket packages are available in prices ranging from $250 to $999 for the club’s 14 home games. Buyers can select their seats in early 2019.

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Joanne Orr joins the Royal BC Museum as vice-president of collections, research and international programs and deputy chief executive. Orr has over 30 years of experience working in and with museums.

She spent the past 13 years work i n g on a n at ion a l strategy for museums in Scotland as the chief executive officer of Museums

JANUARY 2019

Joanne Orr Galleries Scotland (MGS).

S N C-L ava l i n a n d B C Hydro received the outstanding project award f rom Canadian Hydropower Association for the John Hart Generating Station Replacement Project near Campbell River. The Tunneling Association of Canada also recognized the project as its innovative project of the year.

Rose Arsenault has been named the Victoria Chamber of Commerce’s Member of the Year. Arsenault is the branch manager for Talentcor Victoria, where she has advised public and private employers on recruiting and human resource needs since 1997. The award will be presented at the Chamber’s 2019 Greater Victoria Business Awards Gala on May 16 at the Fairmont Empress. Finalists for all 12 award categories will be announced in February.

Victoria-based Accent Inns Inc. has been named Business of the Year by the Tourism Industry Association of Canada. The family-owned chain has seven properties with five Accent Inns and two Hotel Zed properties in Victoria and Kelowna. The company has been owned by the Farmer family for 32 years and Mandy Farmer serves as president and chief executive. Victoria’s Eagle Win Tours was also honoured by the association, winning the Sustainable Tourism Award.

Royal LePage Coast Capital Realty congratulates their top producers of the

month from across the Victoria area. The top producers for Oak Bay include Rosemarie Colterman, Neil Bosde, Rick Hoogendoorn, Sarah West, Tasha Medve, Mike Vanderkruyk, Nate Verran, Tom Fraser, Patricia Foster, Pat Meadows, Saira Waters, Anna Bjelde, Goran Tambic, Patricia Gatey, Mikaila Rhodes and David Wardle. T he top performers from Saanich are Craig Toker, Morley Bryant, Larry Pistell, Sladja Stojkovic, Paul Holland and Tammy Hatter. From Sooke they are Tammi and Jacob Dimock, while Doug Poruchny and Mike Hartshorne were the top producers for the West Shore.

The Saanich Peninsula Chamber of Commerce’s Tour of Industry which takes place on January 25, 2019 is celebrating its 10th anniversary. T he event g ives lo c a l bu si nesses and producers the opportunity to showcase their operations to a group of 56 people.

Re/Max Camosun congratulates their top producers of the month for their agency at 101 – 791 Goldstream Avenue. They are Dale Sheppard, Jennifer Bruce, Tania Delmonico, D o n B u r n h a m , Jo rd a n Campeau a nd Glenda Warren.

A Starbucks, Dairy Queen and Great Canadian Oil Change are part of a new development planned on the corner of Millstream Road and Treanor Avenue in Langford. T he businesses on the three-acre lot will make up the first phase of the project and should be completed by fall 2019. Plans for a following two phases have not been solidified yet by project developer Metropolitan Capital Partners, though they will include a mix of residential and commercial spaces. The developer sold the rear portion of the lot over a year ago which paved the way for a 130unit residential project that is under construction.

SEE MOVERS & SHAKERS| PAGE 17

MOVERS AND SHAKERS CONTINUED FROM PAGE 16

Capital Region Emergency Service Telecommunications Incorporated (CREST) is unveiling an upgraded emergency response system that has been in the works since 2016. The upgraded syste m , c a l l e d P 25, i s a n all-digital platform fit with more reliable technology, enhanced audio clarity and better coverage. The upgrade cost $24.5-million and is expected to be unveiled in January 2019.

MAC Renovations moved from Esquimalt to Saanich to a building formerly the home of a series of restaurants known as the Ranch.

Since taking over the space the company rebuilt the ranch while maintaining a low environmental impact.

The space has ratified step 4 of the 5 steps in the Step Code, which is a voluntary building code for new homes that demonstrates a commitment towards reducing energy consumption. Buildings that meet the 5 th step requirements are buildings that could (with additional measures) generate all their required energy. The new building is at 5285 West Saanich Road.

The VIATEC Foundation Food Bank Challenge contributed more than 3,240 pounds this year to the Mustard Seed, doubling its contribution from the previous holiday season.

T he challenge also saw $45,224.40 donated between 18 CRD-based companies. The challenge has brought in over $2.25-million for Mustard Seed since 2002.

Two electric charging stations have been i nstalled at the public services yard at 1703 Keating Cross Road in Saanichton and are now open to the public on weekdays from 8:30 am until 4:30 pm. The District of Saanich secured a grant from Plug In BC for the stations. Plug In BC is a program that lays the groundwork for electric vehicle infrastructure, supported by the province,

T he City of Colwood’s Chief Administrative Officer, Ian Howat announced he is retiring in June to fulfill his and his wife’s lifelong dream of cruising around the world on their boat. Howat will continue to work closely with Colwood’s mayor and council through their term and will help with the recruitment of his successor.

T he Gre ater Victor i a region recorded an unemployment rate of 3.9 per cent in October compared with a rate of 4.5 per cent for the whole of Vancouver Island according to BC Stats. This puts the area’s rate 0.2 per cent below the provincial rate of 4.1 per cent, the lowest in Canada.

Saanich Commonwealth Place recently commemorated their 25th anniversary with a public celebration that included a cake cutting ceremony, a spin wheel with prizes and more. The center was opened in 1993 and was used for the following year’s Commonwealth Games. Today it is a thriving recreation and high-performance center for all ages and is home to a myriad of swimming and other sports teams.

Victoria is now among the top 10 cities for Canadian tech talent according to a report released by the CBRE Canada. This marks the first time the capital has made the list, which analyzes the cost, conditions and quality of the labour market for highly-skilled tech workers.

T he 2018 Scoring Canadian Tech Talent Report, published by CBRE, notes that Victoria added 1,000 tech jobs to the labour force between 2012 and 2017 – a 16.1 per cent increase.

SendtoNews announced it ra n ked #2 43 on Deloitte’s Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. SendtoNews grew 372 per cent SEE MOVERS & SHAKERS| PAGE 19

D E T N E C -S

HYAS, a cybersecurity company founded by Chris Davies, has entered into a debt financing agreement with Silicon Valley Bank (S V B). T he a g reement provides up to $2-million in new capital that will be used to transform its Comox attribution intelligence engine into a holistic platform that enables enter pr ises to a na lyze clearly defined threat data, mitigate cyber-attacks and ultimately track hackers to their doorstep. The company recently secured a $6.7 million Series A round led by M12, Microsoft’s venture fund, with additional funding from Susa Ventures, an early-stage technology fund based in San Francisco.

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Star Cinema celebrated their 20 th anniversary by showing the movie “Tea with Dames” and donating all of the revenue from ticket sales to the Saanich Peninsula Lions Food Bank. The cinema is opening at 9824 Fifth Street at the site of a former furniture store in the near future and is expecting to be closed for one week at most once the move takes place.

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V i c t o r i a-b a s e d B a rnacle Systems heads to Las Vegas to showcase its BRNKL application at the annual Consumer Electronics Show from January 8-11. The six-month-old sof twa re development company is showcasing a mobile security system that enables boat owners to check on their vessels using their smartphones, computers or tablets.

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Camosun College h a s re l a u n c h e d t h e i r s t udent-run food truck with a new exterior design. The truck is now wrapped in ca r toon-style a r twork courtesy of students from the Comics and Graphics Novels program. The truck features a range of rotating menu items and visits both the Interurban and Lansdowne campuses intermittently.

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industry, electric vehicle owners and NGOs.

The Oak Bay Fire Department appointed Assistant Fire Chief Darren Lee to the role of deputy fire chief effective February 1, 2019.

Lee began working with the fire service in the North Cowichan Fire Department a nd was most recently assistant chief in West Kelowna before coming to Oak Bay in May.

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OPINION

18

JANUARY 2019 A division of Invest Northwest Publishing Ltd. 200-3060 Cedar Hill Road, Victoria V8T 3J5 Fax: 1.250.642.2870 Toll free: 1.866.758.2684 Website: www.businessexaminer.ca

PUBLISHER/EDITOR | Lise MacDonald SALES | Josh Higgins – josh@businessexaminer.ca, Alex@businessexaminer.ca

John MacDonald - john@businessexaminer.ca WRITERS | Beth Hendry-Yim, Kristin Van Vloten, Val Lennox, Robert MacDonald

GREENDP PROVES IT DOESN’T UNDERSTAND THE BASICS OF ECONOMICS

MARK MACDONLD

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upply and demand.

These are the two basic e s s e n t i a l s re q u i re d to understand economics.

If both supply and demand are up, the economy is brisk. If both are down, the economy slows.

If supply is up and demand is down, prices drop. If supply is down and demand is up, prices rise. It’s a real-life teeter-totter, something that even kids at the playground get before they jump on.

A l l pol iticia ns shou ld be m a nd ated to en rol l i n a requ i red cou rse that ma kes it crystal clear how fundamental these two words are when dealing with anything regarding the economy and government finances. It is painfully obvious that the current edit ion of gove r n m e nt i n t h i s province, the GreeNDP axis, just doesn’t get it.

The most glaring example is their shameful treatment of the real estate and development industry. They’ve crimped both ends of the hose, by introducing punitive taxes that have scared off foreign buyers and purchasers of second homes and artificially decreasing demand, while at the same time their municipal farm teams thwart development of new product at the civic level, decreasing supply. Sensing a slowdown in the market, otherwise eager sellers decide to stay put and keep what they have, further limiting the number of options for buyers.

The foreign buyers tax affects everyone in the real estate market, as sellers of properties to foreigners can downsize and purchase less expensive properties lower in the market, bank the rest and retire, and so on . . .

I t’s a n i n c r e d i b l y j u v e nile attempt for the GreeN DP to achieve their stated goal of making housing more affordable, and it has made absolutely zero impact. Thus far, it has only increased the cost of housing. Not only that, but housing that lower income individuals could normally afford, namely apartments, is slow coming to market, due to ever-increasi ng development reg u latory obstacles.

Developers who have the wherewithal to build such projects have been taking a hard second look at doing so, due to the GreeN DP’s introduction of the new “luxury taxes” that aim directly at individuals who might want to purchase units for rental and secondary income.

When the GreeNDP went ahead with its ill-advised secondary residence taxes in the fall, several larger rental-based projects were immediately shelved on Vancouver Island and in the Okanagan.

To summarize, the GreeNDP policies have drastically reduced sales and simultaneously driven up prices. With no more affordable housing on the immediate horizon.

Another factor that must be i ncluded is the federa l gover n ment’s ch a n ge to mor tgage qualification rules that have made it much tougher for first-time buyers to get into the market. It has reduced their pu rchasi ng power by 20 per cent, and those buyers typically target the less expensive end of the market.

Call it a government trifecta: Ottawa targets first time buyers, Victoria takes aim at outof-prov i nce pu rchasers a nd investors, and municipal governments everywhere make it

increasingly difficult to increase the a mou nt of supply. Sa les numbers plummet.

The numbers don’t lie.

Victoria Real Estate Board figures show sales of properties dropped 20 per cent in 2018 from 2017 – to 7,150 properties sold from 8,994 the year before. In December 2018, 375 properties sold – 18.8 per cent less than the 462 sold in the same month in 2017, and 24.7 per cent less than November, 2018. The benchmark value for a single family home in Greater Victoria rose 3.2 per cent to $858,600, from December 2017 to December, 2018.

Year-end statistics from the Vancouver Island Real Estate Board show sales decreased 19 per cent in 2018 from 2017, including a whopping 24 per cent in Nanaimo and Port Alberni/ West.

Single family home sales slid 48 per cent.

At the same time, prices rose 10 per cent year over year, jumping 26 per cent in Port Alberni West alone. The average sales price for 2018 was $512,005, up from $465,036 the year before.

The volume of sales and increase in prices took place in every city and region.

Whilst the GreeNDP bruised i t s e l f w i t h m u l t i p l e b a c kslaps wh ile trotting out

pre-Christmas budget results, surely there must be someone, somewhere in the government that recognizes that real estate and development has been the mainstay of the provincial economy for over a decade.

Obviously not.

While the NDP’s typical class warfare-style governance takes aim at those that “have”, i.e. rea ltors, developers a nd i nvestors, it really has its most negative impacts on those they feign to help – those at the lower end of the market and renters.

High income individuals and companies are better situated to ride out a downturn in the market, and besides, the hikes in taxation that adds to the cost of the end product is borne by the purchaser.

Even though the NDP’s policies are clearly misguided and ill-conceived, they have thus far only served to pump the brakes to slow the market, instead of bringing it to a screeching halt.

But it has carved some serious flesh from the province’s golden goose - the real estate and development industry - with its tinkering of supply and demand.

It’s a terrible pity that those on the government side of the leg islatu re appa rently ca n’t recognize the damage they’ve done yet.

INDIGENOUS COMMUNITIES SHOULD TAP INTO THE MEDICAL TOURISM MARKET The James Smith Cree Nation Could Create What Would Be Saskatchewan’s First Private-Pay MRI Facility JOSEPH QUESNEL FRONTIER CENTRE FOR PUBLIC POLICY

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First Nation community about 70 kilometres southeast of Prince Albert, Sask., hopes to generate profit within five years from a private MRI clinic.

The James Smith Cree Nation could create what would be the province’s first private-pay MRI facility. This became possible when the Saskatchewan government passed legislation in 2016 allowing for such facilities as a way of decreasing wait times.

A Regina Leader-Post news

story from 2016 points out that the Saskatchewan Medical Association opposed private MRI facilities, while some doctors continued to refer patients to out-of-province MRI clinics for needed tests.

For Indigenous communities, such businesses could generate new revenue streams. While this would help medical patients of the communities and the province, it could also tap into the lucrative medical tourism industry.

The Medical Tourism Association says that “Medical tourism is where people who live in one country travel to another country to receive medical, dental and

surgical care while at the same time receiving equal to or greater care than they would have in their own country, and are travelling for medical care because of affordability, better access to care or a higher level of quality of care.”

First Nations could expand beyond MRI services into other diagnostic services and elective surgeries, such as knee and hip replacements.

Many First Nations are exploring the economic opportunities created by legal cannabis. However, some Indigenous communities aren’t as enthusiastic about this market or are concerned about the ill effects on their communities, which are already dealing with addiction problems.

Allowing for-profit medical services on reserves could also help First Nations develop economic opportunities outside of the problematic casinos and VLTs. The distinct legal situation of First Nations could make these opportunities possible.

James Smith isn’t the first Indigenous community to explore delivering private health services to Canadians. Westbank First Nation, near Kelowna, BC, planned a high-end private health-care facility of about 200,000 square feet and 100 beds in its first phase.

Chief Robert Louie told Windspea ker i n 201 2: “It w i l l be equivalent to a private hospital.

The centre will provide all the services of a typical health-care institution without the emergency department, obstetrics unit and psychiatric ward.

“The private clinic will provide major organ surgeries, joint replacements and cosmetic surgeries. It’s pretty wide open as far as a hospital goes,” Louie said.

Hea lth Ca nada sa id that such a private hospital would be allowed only if it catered to non-Canadians.

Some constitutional experts said the proposal would test Indigenous self-government.

Louie claimed the band didn’t require approval from Health Canada to build and operate a private hospital on their land.

Unfortunately, the hospital was never built. Louis, who was the driving force behind the project, was defeated in the 2016 election.

T he federa l a nd prov i ncia l governments need to work with Indigenous communities that want to provide medical services to other Canadians. The MRI clinic at James Smith Cree Nation in Saskatchewan needs to be replicated across the country.

First Nations deserve more opportunities to develop revenue outside of gambling and cannabis.

At a minimum, Indigenous communities should be to allowed to take advantage of the medical tourism industry.

Joseph Quesnel is a research fellow with the Frontier Centre for Public Policy.

SUBCRIPTIONS | $45 PER YEAR (12 ISSUES), $80 FOR 2 YEARS (24 ISSUES), SUBSCRIBE ONLINE: WWW.BUSINESSEXAMINER.NET. DISTRIBUTION: FOURTH WEEK OF EACH MONTH VIA CANADA POST AD MAIL. The publisher accepts no responsibility for unsolicited submissions. The views and opinions expressed in this publication are not necessarily those of the publisher. Produced and published in British Columbia. All contents copyright Business Examiner Victoria, 2019. Canadian Publications Mail Acct.: 40069240

MOVERS AND SHAKERS

JANUARY 2019

MOVERS AND SHAKERS CONTINUED FROM PAGE 17

during this period. Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies—both public and private—in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2014 to 2018.

Bubby Rose’s Bakery & Café is opening a downtown Victoria restaurant named Maman in the 500-block of Pandora Avenue.

Victoria International Airport (YYJ) welcomed their two-millionth passenger on December 19th.

In the past five years YYJ’s passenger volumes have grown 25 per cent from 1.6-million to 1.93-million in 2017, raising the possibility that 2018’s passenger activity would push the two-million boundary. Earlier this year the Victoria Airport Authority began another phase of terminal improvements that include a 35,000 square foot expansion of the departures area, additional aircraft gates and new dining opportunities for departing passengers. The $19.4 million initiative is expected to complete by late 2019.

T he dow ntow n location of Floyd’s Diner closes for business

on January 1 after over two decades. Floyd’s operators have not indicated they will reopen in another space in downtown Victoria or focus on the eateries in Langford and James Bay. No redevelopment plans have been put forward yet for the space though developers have been consolidating land parcels adjacent to the eatery over the last several years with a plan to repurpose the block in the near future.

Va ncouver-ba sed pi zzer i a chain Virtuous Pie is opening a Chinatown location at 530 Pandora Avenue in spring. The new shop will open in a 2,300-squarefoot space designed by Vancouver-based Simcic Uhrich Architect, seating 61-patrons and featuring a communal bar with local wines and craft beers.

Virtuous Pie also serves ice cream and its Victoria menu will feature unique menu items only available in the capital.

The Original FARM, formerly known as Farmacy, could be Langford’s first government-licensed cannabis dispensary open this year at the Belmont Market Shopping Centre in the Westshore com mu n ity. T he dispensary requires municipal and provincial approvals for the 4,468-square-foot ground floor storefront to begin operation once the building is complete.

Langford’s mayor Stew Young has

forced the closure of dispensaries attempting to set up shop in the municipality ahead of the federal legalization of cannabis.

Jam Café opens this year in a commercial space along Cook Street, marking the Café’s second restaurant in the capital.

The Village will take over the operation of Bubby’s Kitchen at 355 Cook Street. The Village operates several local eateries under that banner with an Old Town location coming soon.

Air Canada is re-launching wide-body jet service between Victoria International (YYJ) and Toronto International airports after a break 2018. Air Canada will return their Rouge-branded Boeing 767-300ER (extended range) jetliner with capacity for 282 passengers to serve on May 1st as a second daily departure to Toronto. The flight which departs at 1:20 pm will continue until late October at which point the carrier will only have the connection operated by a 200-passenger Rouge Airbus A321. The 767 was used for the seasonal connection for the first time in 2017, while the smaller A321 was put into service for the seasonal flight in 2018.

Victoria developer Gordon Denford has donated $5-million to Glenlyon Norfolk School on

behalf of his family. The gift is the second-largest single donation ever made to an independent school in Western Canada and is going toward a capital campaign coming next year to refurbish the school’s two campuses at 1710 Beach Drive and 801 Bank Street.

Denford is the founder of Berwick Retirement Communities.

19 Re/Max Alliance Victoria congratulates their sales leaders of the month. T hey a re Ron Nea l, L ay ne Br itton, K a ren Love, Jason Leslie, Manpreet K a ndola, Claude D el m a i re, Jaclyn McMillan, Jean Medland, Glen Glowinski and Robert Woodland.

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