St. John's Board of Trade February 2015 Business News

MEET 2015 CHAIR

KIM KEATING

FebRuary 2015

VOLUME 30, NUMBER 1, 0834-2015

KNOWLEDGE & EXPERIENCE YOU CAN COUNT ON.

Dorothy Keating, FCA

Ian Penney, CA, CIRP

Beth Porter, CA, CFP

Peter Winters, FCGA

Denise Coombs, CA, CFP

David Howe, FCA, FCIRP

Colleen O’Keefe, CA

With impressive experience, knowledge, and hard work, our partners lead a team of over 60 people that is your solution for all professional accounting, auditing, taxation, corporate finance, and management consulting needs. With Noseworthy Chapman and Janes Noseworthy, you have a team that works to get you the answers you need and the results you want.

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Cover Story 2 Chair’s Message

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BE THE BOOM 5 Business News is a monthly publication of the St. John’s Board of Trade.

Upcoming Events 6 Advocating for You

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Reproduction of any material contained in Business News is permitted provided written approval from the St. John’s Board of Trade.

Features

Articles and criticisms are invited, but opinions expressed by contributors do not necessarily represent those of the St. John’s Board of Trade.

We encourage you to support the business leaders whose names and products you see advertised in this issue as well as throughout our entire membership. The Board reserves the right to edit submissions.

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Editor: Printed by: Layout:

Kristina George Transcontinental Media Dc Design House

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Your 2015 Board of Directors Around The Board

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Member News

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Industry News

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New Members 27 What are you @? 27

ST. JOHN’S BOARD OF TRADE EXECUTIVE Kim Keating Chair Des Whelan Senior Vice-Chair Dorothy Keating First Vice-Chair Andrea Stack Second Vice-Chair Sharon Horan Immediate Past Chair Derek Purchase Secretary-Treasurer

BOARD OF DIRECTORS Kim Paddon Janis Byrne Kevin Peters Craig Ennis Jim Fallon Wilfred J. Zerbe Andrew Wadden Marilyn Butland

STAFF Nancy Healey Chief Executive Officer Manager of Finance and Compliance Jennifer Chaytor Lori Coleman Business Affairs Manager Margie Davis Executive Sales Director Kristina George Communications and Advocacy Specialist Rhonda Tulk-Lane Policy and Advocacy Specialist Wanda Palmer Director of Sales and Member

Fulfillment Jackie Bryant-Cumby Member Relations Administrator Brendan Hagerty, Labrador and Labour Market Specialist Elizabeth Kennedy Research and Marketing Assistant St. John’s Board of Trade 34 Harvey Road P.O. Box 5127 St. John’s, NL A1C 5V5 Canada Tel: (709) 726-2961 Fax: (709) 726-2003 E-mail: mail@bot.nf.ca Website: www.bot.nf.ca

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MEET your new chair While she didn’t know Donna Stone that well at the time, when the former Board of Trade Chair approached Kim Keating in 2010 suggesting she run for a Director position with the Board of Trade, Keating, a civil engineer, mentor and mother of three, didn’t think twice.

“I loved Donna’s energy and at the time she approached me, I had that itch to get involved in the business community because I could see we were on an upswing,” says Keating. “Work was great, family was great but I felt that need to be part of something else in the community – something that would make an impact. I knew that in our province there were very few organizations with the scale and scope of the Board of Trade and if I wanted to play a part in shaping our prospering economy, this was a good place to start.”

Stone says she encouraged Keating to consider becoming involved with the Board of Trade because she would be engaged, supportive and possessed many of the qualities a person needs to be a leader in the business community.

Born and raised in St. John’s, Keating graduated from Memorial University with a Bachelor of Engineering degree in 1998 and earned her MBA in 2002. For one of her final work terms, she worked overseas in London on the Terra Nova project. She made some good impressions and upon graduation was offered a position with Petro Canada and relocated back to the U.K. It was a great opportunity for a young professional, with lots of travel between London, Calgary and Norway. After two years, Keating and her husband Jim, who also works in the oil industry, returned home to St. John’s where for the next 14 years she continued to work with Petro Canada, now Suncor Energy. Almost two years ago, seizing an opportunity to help shape the future of one of the fastest growing Newfoundland and Labrador companies, she joined GJ Cahill, a leading mechanical, piping, electrical and instrumentation construction company which has expanded in recent years to Nova Scotia, New Brunswick and Alberta.

During the course of her career as an engineer in the oil industry, Keating has specialized in process safety and risk but has done everything from design engineering, construction, commissioning, production operations and field development. In her current role as Director of Projects with GJ Cahill, Keating oversees the execution of various projects within multiple industry sectors. Currently she is project manager for the Hebron Living Quarters project.

Keating with her husband Jim and daughters Karoline, Ava and Madeline.

“Since that time I have had the opportunity to sit on another not-for-profit board with Kim and my respect for her leadership abilities has grown,” says Stone. “Kim is ethical, honest and an inspiration to others. She has a positive attitude yet she can ask tough questions in a respective and confident manner. She is an excellent communicator, appears to be quite organized given her very busy and demanding career and raising a young family, and maintains a sense of humour through it all!”

Keating mentors Thanyamanta (Bo) Worakanok, an immigrant from Thailand.

Keating voting on a policy resolution at the Canadian Chamber of Commerce annual general meeting held in Prince Edward Island in September, 2014.

“We have over 300 tradespeople out in Bull Arm working for us now on this project, and it does consume a fair bit of my time. But it is important that we deliver a quality project that can withstand the harsh offshore environment that we operate in, and we have to do that while ensuring everyone gets home safe at the end of the day.

My commitment to workplace safety is unequivocal.”

Keating on the job site at Bull Arm.

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Keating commends the team at GJ Cahill, and recognizes she wouldn’t be able to take on the Chair’s role without their support.

Fred Cahill, President of the Cahill Group of Companies, says Keating has taken on significant leadership roles that have tremendously benefitted the firm, staff and their presence in the community.

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CHAIR’s message Looking forward to the year ahead I would like to begin my first column as Chair for the St. John’s Board of Trade by saying how excited I am to be working alongside our dedicated volunteers and staff, to be your voice and to advocate on behalf of all members to ensure our city, and province, continues to be a great place to do business.

Since joining the Board of Trade as a Director in 2010, I have had the privilege of working with some of our business community’s best and brightest, and collectively we are making a difference.

In the past year alone, we saw the return of Air Canada’s direct flights to London Heathrow and WestJet adding a flight to Ireland as we made a strong business case for the importance of air access to Europe.

We made our position known on issues such as the need to bring public spending under control, and nationally we voiced our concerns on changes to the Temporary Foreign Worker Program. The list of advocacy work that goes on, often behind the scenes, is significant.

2015 has started off with deep concern for our natural resource based economy that will extend almost certainly into the next 18 to 24 months. However, we at the St. John’s Board of Trade remain optimistic about this province’s long term future.

Despite the most recent dramatic downturn in the oil market, we know that our oil and gas industry is a robust one. While today we are a small contributor to the global energy mix, Newfoundland and Labrador is well positioned with some advantages that will serve us well even in this troubled market. Our production costs are in the bottom half of all global oil produced thanks to efficient operations, growing reserves, a competitive fiscal regime and favourable exchange rate.

Investment risk is also more favourable here compared to other regions when regulatory, legal, security and commercial uncertainty is considered. In 2014, our offshore oil production was at one of the lowest levels we have experienced in over a decade - low price and low barrels. But this year, offshore production is projected

to rebound and increase year over year through the next decade. Furthermore with recent discoveries in the Flemish Pass and renewed interest in exploration licences, the industry will continue to be a dominating fixture in our economy for decades to come.

One upside of lower oil prices is that many consumers will see more money in their pockets, particularly savings on their grocery, car and heating bills - something that can spur spending and create jobs.

The most immediate impact should be positive: a boost to consumers’ disposable incomes and spending.

A primary resource extraction economy such as ours will always subject to the ups and downs of uncontrollable commodity prices. But we are not helpless.

Recalibrating our costs, reviewing our customer and supplier mix, becoming more competitive and capable by retaining top talent and focusing on skills development are keys to building a more resilient economy. We should also embrace and promote innovation and entrepreneurism to diversify and neutralize the cyclical nature of our economy.

There will be challenges in 2015. We are not immune to commodity price swings but there are measures we can take to be more resilient. I look forward to having more of these discussions in the months ahead.

The Race For Relevance Last September I, along with about 300 representatives from Boards of Trade and Chambers of Commerce from across the country, attended the Canadian Chamber of Commerce Annual General Meeting in Prince Edward Island. The AGM allows the national Chamber to set its advocacy agenda for the upcoming year and the theme this year focused on the “Race for Relevance.” As the primary voice of business, we were tasked with defining our membership market and to take a good, hard look at the programs and services we offer.

The new normal for your Board of Trade is very similar to business: Time is limited,

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Chair, Kim Keating expectations are higher than ever, our members are diverse and we face competition. The conventional thinking has been the more programs, services, activities and events we offer the greater the value proposition. But the reality is we cannot be everything to everybody all of the time. The Board, like individual businesses, recognizes how important is it is to continually re-evaluate how we do things, to ensure we are offering the best product or service, as efficiently as possible. In order to sustain the prosperity this province is now experiencing, I strongly encourage all of our members to do the same and have a plan for the future.

The future is not that far away.

This year I also look forward to meeting our members and encourage you to take advantage of all that the Board of Trade membership has to offer. Get involved in your Board of Trade. Take in one of our many mixers and other exciting events we have planned for 2015. Sponsor a student for one of our luncheons as part of the Student Scope initiative. Share your success stories in our Business News magazine. Most importantly, we want to hear your ideas and your challenges.

Together we can make sure this great place we call home continues to be “the” place to live, raise our families and do business.

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BEHIND THE BOOM. The Boom: It’s More Than Business Cabot Ford Lincoln joins Children’s Wish Foundation to grant 10-year- old Kaylee’s wish

Edie Newton and Trevor Clarke with Kaylee, left, and Myah.

For most people, hearing about “the boom” means businesses are doing well.

But the effects of economic prosperity can reach far beyond the business scene.

When times are good, and businesses are appreciative of the support and success they’re experiencing, that boom can make its way to not-for-profit organizations. And on a really great day, that prosperity can be felt by a child, their family and the community.

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made the Children’s Wish Foundation’s job a little easier. And it gave Kaylee something to look forward to.

child’s family, and connect health care professionals and communities in that burning wish of hope.

“We can’t change that Kaylee has been diagnosed with a brain tumor. But we can give her something to be excited about, something to look forward to,” explains Edie Newton, Director of the Newfoundland and Labrador chapter of the Children’s Wish Foundation. “Thanks

“The local community has been so supportive of Cabot Ford Lincoln that we wanted to give back in a big way,” says Clarke. “I encourage other businesses to do the same. The Children’s Wish Foundation has a long list of children in this province who are so deserving of their wishes. Together, we can make many more wishes come true.”

December 8, 2014 proved to be that great day for the Children’s Wish Foundation and for 10-yearold Wish Child Kaylee.

After moving into the new Cabot Ford Lincoln store in 2014, owner Trevor Clarke wanted to thank his customers and community for their overwhelming support. He found inspiration in 11 yearold Myah of Paradise, who had decided to forego Christmas gifts to raise money for the Children’s Wish Foundation. On December 8, Trevor joined in Myah’s Mission, granting a wish for a child in Newfoundland and Labrador with a lifethreatening illness. That day, the boom

to Trevor and the team at Cabot Ford Lincoln, Kaylee will have the chance to swim with dolphins, something she’s always wanted to do.”

The Children’s Wish Foundation is a uniquely Canadian charity that helps Canadian children, families and communities by granting a wish to a child diagnosed with a life-threatening illness. With every wish that they grant, they create moments of joy that ease the pain of a child, give respite to the

Business News NewS february february 2015 Business 2014

About the Children’s Wish Foundation The Children’s Wish Foundation has been granting wishes since 1984. In just over 30 years the Foundation has granted over 21,500 wishes to children living with a life-threatening illness. Every wish is as unique as the child making it, from finally getting to cuddle with grandparents who live far away to hitting a puck with a favourite hockey player. In the often painful life of a seriously ill child, these wishes have made a tremendous difference, bringing hope, joy and healing in every magical moment.

If you have a BOOM moment, big or small, to share with us, or you’d like more information on how to Be The Boom you can reach us at intern@bot.nf.ca.

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upcoming events St. John’s Board of Trade 101

Luncheon

Join us for a detailed orientation and refresher on how to get the most out of your membership. Learn about our Affinity programs, networking opportunities, our advocacy work, sponsorships, volunteer opportunities and so much more.

Join Rick Janega, Emera Newfoundland and Labrador, President and CEO as he discusses “The Maritime Link – Connecting Newfoundland and Labrador to Nova Scotia and Beyond”.

Date: Time: Cost: Location:

Friday, Feb. 6 9 - 10 a.m.

Benefit of Membership Board of Trade Office, 34 Harvey Rd., 3rd Floor

Express Entry Information Session Do you want to connect with in-demand, skilled workers? The federal government has recently changed its economic immigration system to better serve Canadian employers. Attend this session and recruit skilled workers with Express Entry.

Date: Time: Cost: Location:

Monday, Feb. 16 9 - 10 a.m.

Benefit of Membership Board of Trade Office, 34 Harvey Rd., 3rd Floor

Date: Time:

Cost:

Location:

Monday, Feb. 23 Networking – 12:30 p.m.

Luncheon – 1:00 p.m.

Members – $45.00 +HST Non-Members – $90.00 +HST Holiday Inn St. John’s

Fireside Chat Join members of the St. John’s Board of Trade and 21 Inc for a fireside chat on leadership and innovation.

Sponsored by:

Developing future leaders and innovative minds will help sustain Newfoundland and Labrador’s prosperity now and into the future.

Date: Time: Cost: Location:

Thursday, Feb. 26 4:30 - 6:30 p.m.

Benefit of Membership The Keg (private room upstairs)

Chair’s Inaugural Reception We are pleased to invite the entire membership to help us celebrate the inauguration of Kim Keating as the incoming Chair of the St. John’s Board of Trade. It is also a chance for us to say thank you to all of our volunteers and members.

Date: Time: Cost: Location:

Thursday, Feb. 19 4:30 - 6:30 p.m.

Benefit of Membership Holiday Inn St. John’s

lunch ? supper ? evening ?

BEST MEETING FACILITIES

Sponsored by:

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Call Craig Murphy 737-7883 craig.murphy@geocentre.ca

Business NewS february 2015

We are tuned into channel WIFM! (what’s in it for our members).

What matters to you, matters to us.

Staying in the race means we need to know what matters most to you. So tell us! info@bot.nf.ca

You are part of an accredited organization

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Partnerships: An increased partnership model between the federal government and the private sector is one area that will result in more efficient and effective use of taxpayers’ dollars.

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Federal presence: Over the years we have seen a decrease in a federal presence in Newfoundland and Labrador. In order to ensure that the right decisions are made at the right time, we need people on the ground who understand the situation.

The St. John’s Board of Trade has received national accreditation status for 2015-2017. So what does that mean for your business?

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A stronger “voice of business” in your community; and A strong, united voice when advocating to municipal, provincial and federal leaders.

Each and every year the Board meets with numerous elected officials to share the concerns of its membership. Having our finger on the pulse of what’s happening in the business community is our business.

Representing your concerns to the federal government The St. John’s Board of Trade attended federal pre-budget consultations with Minister Kevin Sorenson and Minister Peter MacKay to bring forward issues and concerns from the membership.

Priorities included:

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Representing your concerns to the provincial government

Dependable governance procedures;

Growing our population: The lack of people with the skills needed to fill job vacancies is a high priority for our membership. Finding the right people at the right time is critical to business success.

The St. John’s Board of Trade met with Finance Minister Ross Wiseman to discuss priorities for the upcoming provincial budget.

Messages to the government included:

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No increases to taxes; Reduce unnecessary spending; and Execute a metrics system to monitor outcomes of implemented services and programs.

Representing your concerns to city hall The St. John’s Board of Trade advocated to city councilors for no tax increases in budget 2015. Other asks included:

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Continued investment in infrastructure; and That the City continue to find find efficiencies and innovative ways of doing things.

Read the Board’s full submission: www.stjohnsbot.ca/advocacy/issues/fiscal-policy/

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We are changing the world

By Trevor Hickey “If you don’t know where you are going, any road will take you there.”

Lewis Carroll When we got together to hash out our vision, we went big: “A world where all people with disabilities live full, active, and healthy lives.” Ambitious? Yes. Vision statements are meant to be.

To decide our vision statement we went through a thought experiment: What do we want the world to look like when we are ‘done’? What do we want our legacy to be? What will people say Easter Seals Newfoundland and Labrador accomplished?’

programs and services for people with disabilities. Then take this statement and ask ‘why do we do it?’ In our case, so that people with disabilities can live full and happy lives.

Now take that statement and place it in a larger, perhaps global, context. Make the statement bigger than your organization.

Make it something that will be just slightly out of reach and just grand enough to be inspiring. That’s how we decided that we are going to change the world – a world where all people with disabilities live full, active and healthy lives.

And that’s how we determined where we are going.

An organization with an inspiring and memorable vision statement is equipped with a valuable lens through which it can filter all decisions by asking: is this helping us achieve our vision?” If not, then seriously consider not doing said activity or project.

The first step in crafting a memorable and inspiring vision statement is asking ‘what are we doing?’ At Easter Seals Newfoundland and Labrador, we provide

Our vision was not a week old and we took pause and had to ask ourselves that very question and adjust ourselves accordingly.

Armed with a powerful vision, the otherwise

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mundane activities we all undertake in the name of our respective organizations don’t seem quite so mundane. If coming in a little early on a Monday to shovel the parking lot brings us that much closer to a world where people with disabilities live full, active, and healthy lives, then I am more than happy to do it.

Trevor Hickey is the Director of Corporate Affairs and Communications at Easter Seals Newfoundland and Labrador.

For more information contact Trevor at 730-4860, by email trevor@ eastersealsnl.ca or check out their website at www.eastersealsnl.ca

YOUR BOARD OF DIRECTORS Kim Keating, Chair Kim Keating is the Director of Projects with GJ Cahill & Co. Ltd. Kim has over 16 years experience in the Newfoundland and Labrador offshore oil and gas industry. She started work on the Hibernia project and, in 1997, joined the Terra Nova project design team, located in the United Kingdom, with Petro-Canada (now Suncor Energy Inc.). Kim held a variety of positions throughout the Terra Nova Development from engineering design through to construction, commissioning and finally production operations. Kim also supported field development activities for other East Coast developments including White Rose, Hibernia and Hebron as well as Beta Brent in Norway, and Buzzard and Golden Eagle Area Development in the UK. Kim holds a Bachelor of Engineering degree from Memorial University and is a registered member of PEGNL. She also holds her Canadian Registered Safety Professional (CRSP) designation and has completed her Masters in Business Administration.

Kim is an elected alumni representative on the MUN Board of Regents, Chair of the Rhodes Scholarship Canada regional selection committee, a past president of WISE NL and a founding member of the International Women’s Forum NL chapter. Kim also participates on several advisory committees to both PEGNL and Memorial University.

Des Whelan, Senior Vice-Chair Des Whelan is the president of Keyin College. He has more than 20 years of experience in business with a strong background in sales of technology, management and human resources.

Des has brought a strong business planning focus to the college and is part of a team driving the college’s development in Newfoundland and Labrador and beyond.

Des is a graduate of Memorial University, with a Bachelor of Arts, majoring in economics, and holds a professional manager designation from the Canadian Institute of Management.

In addition to the Board of Trade, Des serves as the president of the Newfoundland Labrador Association of Career Colleges, is a board member of the National Association of Career Colleges, and an executive member of the Board of Directors of the Canadian Homebuilders Association of Newfoundland and Labrador.

Dorothy Keating, First Vice-Chair Dorothy Keating is a Partner with Noseworthy Chapman Chartered Accountants in St. John’s which is the largest locally owned chartered accounting firm in the province. Dorothy’s career has spanned both public practice and industry and she has been a trusted business advisor for over 20 years, bringing her knowledge to entrepreneurial, multinational and non-profit clients of all sizes in Newfoundland and Labrador. Her primary areas of service to this clientele include audit and assurance, finance, taxation and business advisory services.

Dorothy graduated from Memorial University in 1990 with a Bachelor of Commerce degree and obtained her Chartered Accountant (CA) designation in 1992. She was elected as a Fellow of the Institute of Chartered Accountants in Newfoundland and Labrador in 2012 in recognition of her contribution to the community and to the profession.

Dorothy is currently a Board Member and Vice Chair of the Institute of Chartered Accountants of Newfoundland and Labrador, Board Member of the Chartered Professional Accountants’ Merger Transitional Steering Committee and Board Member of Memorial University’s Faculty of Business Administration Advisory Board. She has been involved in many volunteer and community activities including serving for eight years as a municipal councillor with the Town of Torbay, Past Chair of the Institute of Chartered Accountants of Newfoundland and Labrador and Finance Chair of Holy Trinity Parish.

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YOUR BOARD OF DIRECTORS Andrea Stack, Second Vice-Chair Andrea Stack is a Portfolio Manager and Investment Advisor with The Stack Team at CIBC Wood Gundy. Andrea helps clients navigate the complexities of managing wealth and works with them to provide financial, investment and estate plans tailored to their individual needs. After completing her Bachelor of Commerce degree Andrea worked in Toronto for a few years in the investment industry before deciding to return home to Newfoundland. She completed her MBA at Memorial University and started work as an Investment Advisor in 2000. She is a Fellow of the Canadian Securities Institute having completed her Canadian Investment Manager and Certified International Wealth Manager designations.

In addition to the Board of Trade, Andrea is a board member with Hope Air and the Dr. H. Bliss Murphy Cancer Care Foundation. She is also an active member of the Rotary Club of St. John’s Northwest, having served as Club President in the 2010-2011 Rotary year, and is a recipient of a Paul Harris Fellow, given by Rotary in recognition for her service.

Sharon Horan, Immediate Past Chair Sharon Horan graduated from Dalhousie University with an Honours degree in Occupational Therapy in 1987. Upon graduation from Dalhousie, Sharon began work in the public hospital system in St. John’s and while working full time in the public sector she opened her first business, Atlantic Orthotics Ltd. in 1989. In 1994 she left the hospital setting completely and opened her second business, FIT For Work. Since 1994 FIT For Work has evolved into a multifaceted, interdisciplinary company with four offices across Newfoundland, and a partnership of almost 40 staff and/or contractors. In recent years Schooner Holdings, a Real Estate holding company, and Dory Holdings, an investment company, have also been formed. She has been received several awards for her business success including Employer of Distinction from NLEC in 2010, Canada’s Top 100 Female Entrepreneurs from Profit Magazine in 2011; and a NLOWE Innovation award in 2013.

Derek Purchase, Secretary/Treasurer Derek Purchase holds an Honours Bachelor of Commerce degree from Dalhousie University (1982); Chartered Accountant (1985), Northwestern University Executive Development Program (1999).

Derek is a Senior Partner with Ernst & Young. He has over 30 years experience leading teams and providing various audit and assurance services to clients. He is Assurance Services leader for Atlantic Canada, and provides audit and advisory services to many large and private and public clients. He is an Engagement Partner on several of Atlantic Canada’s largest companies with global operations and was lead Engagement Partner on several large internal audit outsourcing engagements.

Derek joined Ernst & Young in New Brunswick in 1986 and was admitted to the partnership in 1991. He was named New Brunswick Managing Partner in 1995, and in 2000 he was appointed Newfoundland Managing Partner. He was subsequently Atlantic Canada Managing Partner from 2003-2007. Derek has served on the Canadian Partnership Board, the Americas Partner Advisory Council (reporting to the Global CEO of Ernst & Young), and has also served as Telecommunications Industry Leader for Canada. Derek is married to Susan and they have three children.

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YOUR BOARD OF DIRECTORS Directors Kim Paddon Kim Paddon is one of a new breed of business owners. With her signature glasses and passion for pink, this fashionista operates Whink with sense and style.

Kim has always been creative and studied to be a graphic designer at Holland College after a year in traditional academia failed to ignite her passion. After graduation, Kim returned home to St. John’s to be closer to her family and began working in retail and graphic design. Kim was helping her dad find the perfect Christmas present for her mom, when she stumbled upon her dream business in the form of a soon to close gift shop. Over the next few months Whink was created. The shop has been featuring Paddon’s trendy and classic style since May 19, 2010, in the form of locally-made and international jewellery and other beautiful things.

Whink has recently expanded into a larger storefront and online shop. Kim loves her horse Kitty, bright lipstick, glitter, and meeting new customers. She lives in St. John’s with her husband Rob and their beagle Bentley.

Janis Byrne Janis Byrne is Chief Legal Officer to the Pennecon Group of Companies. Janis was admitted to the Law Society of Newfoundland and Labrador in 1996, and joined the Pennecon Group in 1999.

She is a past president of the Canadian Bar Association (NL Branch) and currently sits on the Board of Directors of the St. John’s Board of Trade. Janis is a member of the Discipline Committee for the Law Society of NL, and a lecturer for the Bar Admission Course (corporate/ commercial). She serves on the Nominations Committee for the Ches Penney Family YMCA.

Kevin Peters Kevin Peters has over 10 years of senior management experience focusing on business development, marketing and operations. He is currently the Chief Operating Officer of the Hickman Automotive Group, responsible for over 425 employees located in nine branches that represent multiple automotive brands. Kevin was also the Chief Executive Officer of the Canadian Division of UniTek Global Services where he was responsible for expanding and diversifying the Unitek brand within Canada through field surveying, engineering, construction and project management divisions.

Prior to Unitek, he served as Vice-President of Marketing and Sales for Persona Communications, a national Canadian cable provider where he was responsible for developing specific retention, acquisition and customer loyalty campaigns to increase the company’s market share. Kevin has also served as Vice-President and General Manager of Persona’s east coast operations managing all aspects of the division, including overseeing multi-million dollar terrestrial and submarine fiber optic builds while improving operations.

Kevin currently lives in Mount Pearl with his wife and three daughters.

Craig Ennis Craig is Senior Communications Counsel with Atlantic Lottery. He has worked in both provincial and federal governments, at a university technology incubator, with marketing/PR agencies, and at a member-based association. Craig holds a degree in public relations and an MBA.

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YOUR BOARD OF DIRECTORS Jim Fallon Jim Fallon is Regional Vice President, BMO Bank of Montreal. Jim was born and raised in St. John’s and currently lives in the city with his wife Susan. Jim received his undergraduate degree from Memorial University of Newfoundland and Labrador in 1980 and his MBA from Dalhousie University in 2006. Jim has 34 years with BMO and was appointed as Vice President in 2010.

Jim has a firm belief that we need to give back to the communities in which we live and work.

Over the years he has been active in many local charities and community organizations.

Wilfred J. Zerbe Wilfred J. Zerbe joined Memorial University in 2010 and is currently Professor of Organizational Behaviour and Dean of the Faculty of Business Administration. His research interests focus on emotions in organizations, organizational research methods, service sector management, business ethics, and leadership. His publications have appeared in books and journals including The Academy of Management Review, Industrial and Labour Relations Review, Canadian Journal of Administrative Sciences, Journal of Business Research, Journal of Psychology, Journal of Services Marketing, and Journal of Research in Higher Education.

Prior to joining Memorial University he was on faculty with the Haskayne School of Business at the University of Calgary, where he held positions as Associate Dean (MBA), and Associate Dean (Executive Education). Dr. Zerbe received his Ph.D. from the University of British Columbia in Commerce and Business Administration and holds Bachelors and Masters degrees in Psychology.

Andrew Wadden Andrew Wadden is a graduate of Memorial and Dalhousie University and a lawyer with the firm of Wadden Peddigrew Hogan (WPH Law). He has been part of the St. John’s business community since finishing law school in 2002. His experience includes working as an associate in one of the region’s largest firms, as in-house counsel for a large insurance company, and now a founding partner of WPH Law. Andrew was recognized as Valedictorian of his Dalhousie Law class while also receiving the HG Puddester Award for demonstrated academic and leadership ability. This fall he received the 2014 Rotary Northwest Aidan Maloney Young Professionals Award, an award aimed at recognizing professionals who are doing great work in their community and who can positively impact their vocations.

Andrew is a rower and member of the Royal St. John’s Regatta Committee, Clean St. John’s Board, and former Big Brother with Big Brothers and Big Sisters. He has also taught at MUN in the school of Human Kinetics and Recreation on the legal aspects of recreation and risk management.

Marilyn Butland Marilyn Butland has been steering her own business consulting and communications practice for five years, after 13 years in agency work in management and as a partner, and 14 years with the Government of Newfoundland and Labrador.

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Building on her MUN Bachelor of Commerce (’82) and MBA work, along with certifications in public participation, partnership brokering, and management consulting, Marilyn is a strategic, results-focused, professional team player. She has a proven reputation for developing solid relationships in complex situations with people who matter: in mine related projects including start-up plans for Vale’s Long Harbour Processing Plant to owner interests in re-opening Wabush mine; in aboriginal relations for Labrador Inuit business interests and Qalipu Mi’kmaq member rights; and business leadership in guiding firms, entrepreneurs and non-profit organizations through awareness campaigns, issue management and growth. Her passion for promoting the province is grounded in a deep connection and commitment to Labrador.

What the independent advisor of the future looks like Larry Short is a 27-year veteran leading a three-professional wealth advisory team here in St. John’s.

•

Do you advise on (or sell) only your own company’s products? This gets to the real question of objectivity. Is the individual licensed as an agent or an independent advisor?

•

How often can I expect to hear from you? Is this a one transaction event or will there be ongoing advice?

•

Will you put this in writing?

He is a bit of a rebel. He was a vice-president at two bank-owned firms and left the “comforts” of the banks joining an independent firm, DundeeWealth, in 2008.

There are a number of reasons Short lists for this decision but the biggest factor was to be able to offer his clients the best products available in the investment industry through an independent firm and, it may sound small, but not to work via voicemail. “We are working with 159 wealthy families and the close relationship we develop with our families is what I wanted to preserve,” he says. “Clients hate voicemail.”

Recently Short has been asked to help define the term “independent advisor.” After all, it carries a lot of weight in many investors’ eyes. “More investors are becoming leery of the salespeople in our business and are struggling to find that independent advisor to trust,” he says.

This last point is the real litmus test. It is easy to talk a good yarn but putting it on paper shows real commitment.

In an ironic twist, Short’s firm, DundeeWealth, was bought by ScotiaBank in 2011. Short was initially upset by the deal but ScotiaBank has honoured his independent contract in full. The only visible change was the name to HollisWealth, in honour of Hollis Street in Halifax where ScotiaBank had its first bank branch.

And if you call Short’s office during regular hours, you still won’t get voicemail.

You can see what Larry and his team are about at http://advisor.holliswealth.com/ content/retailAdvisor/en/IIROC/lshort.html New clients are accepted by referral only.

From left, Larry Short with Robyn Jordan, Curtis Porter and Kimberley Short.

To decrease confusion, new rules will be fully introduced by July 2016 that will force advisors to report all fees and disclose any conflicts of interest, Short says: “Investors want to know if a recommendation is being made that is best for the advisor or best for the investor. The future investment advisor will be governed by these regulations. I think this will kick open a hornet’s nest.”

HollisWealth is a trade name and a division of Scotia Capital Inc., a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.™ Trademark of The Bank of Nova Scotia, used under licence.

“Taking Care of Business...Everyday”

He says that hornet’s nest was kicked over in Britain when these changes were introduced four years ago and about 20 per cent of financial advisors quit.

As a Portfolio Manager at HollisWealth, Short’s team is already 2016 compliant and this is one of the reasons that he is often asked for his opinion. “As a Portfolio Manager team, we have the fiduciary duty to do what is best for the client no matter who is making the products.” Only four per cent of investment advisors in Canada have that Portfolio Manager designation.

Short recommends that you ask your advisor the following questions to see if they will be around in the future:

•

How do you get paid? This is a simple question but many investors are afraid to ask it.

It seems too intrusive. However, if you follow the money, you will better understand how your advisor is motivated and whether they are a salesperson.

•

What fees will I be charged annually? Are there any upfront fees or conditional fees charged if I change my mind? The new regulations will spell these fees out in a simple manner so it is best that you start understanding them now.

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THANK YOU for making the 2015 Business Development Summit a success!

We would like to thank the speakers who provided their valuable insights, to the exhibitors who showcased their local products and services to hundreds of visitors at the Trade Show and to all of our sponsors who made this event possible.

We look forward to seeing you next year!

Check out stjohnsbot.ca for photos from this year’s event.

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MEET YOUR NEW CHAIR

Continued

“I am continuously amazed at her determination, initiative and capacity for work and how she is able to successfully balance her professional career with her family and community involvement,” says Cahill. “Her leadership skills, her professionalism, drive and commitment to the community both from a corporate and social perspective will serve her well in the role as Chairperson for the Board of Trade.”

Leading by example As a graduate of Memorial, it should come as no surprise that giving back to the university community is important to Keating.

Student leadership earned her the Dean’s Award at the Faculty of Engineering. Upon graduation she was involved with the Women In Science of Engineering (WISE) organization at Memorial.

“When I was going through the five-year engineering program, there were very few females, so I learned early on how crucial it was to have a powerful support network,” she says. “I came to appreciate the value of having support networks even more when I joined Petro Canada. Senior women in that organization who recruited me stayed close to me, particularly in the early days of my career, as mentors and sponsors. I learned so much from them. I gained great confidence.”

Keating lead Think Tank 2014.

A powerful network Keating quickly realized after joining the Board it was a great way to get better connected with the local business community.

“The Board of Trade has given me a better understanding of the perspectives of local small and medium sized business in addition to the experiences that I attained while working for a large multi-national in St. John’s. I have become more in tune with the challenges they face and the opportunities that exist here. I was also fortunate enough to be working in an industry that provided a lot of these opportunities for these businesses, so it was really meaningful to see how the oil industry was impacting different sectors of the economy.”

Director terms with the Board of Trade last two years. When the end of her term was approaching, then Chair Jo Mark Zurel suggested Keating consider joining the executive. “While it was hard at the time to envision the multi-year commitment that leads to the Chair’s position, I knew that after two years I wasn’t ready to finish,” she says. The road to the Chair’s position began, with Keating serving as Second Vice-Chair, First ViceChair and Senior Vice-Chair, chairing numerous committees along the way.

“I didn’t realize when I first started with the Board how much I would love the policy work,” she says. “I have seen what we have been able to do first hand, to inform the public and to influence all levels of government. It is a powerful network.”

Outgoing Chair Sharon Horan says the Board of Trade will be in good hands as Keating takes over. “I have gotten to know Kim over the past four years as we have worked collaboratively together on the executive,” says Horan. “Kim will bring another valuable perspective to the Board of Trade this year because

16

of her vast knowledge in the oil and gas sector, an integral part of our economy moving forward. Having worked for both a major oil company as well as a large supply chain operator she has the ability to understand all sides of this industry and she knows first-hand how decisions made within this sector can impact Newfoundland and Labrador.”

Keating is an elected member to Memorial University’s Board of Regents and also chairs the Rhodes Scholarship Selection Committee for Newfoundland and Labrador. “Chairing that committee is such an inspirational experience. When you meet the talented youth of this province, in terms of not only their academic strengths, but their drive to be community builders and leaders, it just blows me away. I walk away every year thinking our future is in great hands.”

A big supporter of diversity and building capacity, Keating also volunteers with the International Women’s Forum chapter in St. John’s and is currently a mentor to Thanyamanta (Bo) Worakanok, an immigrant from Thailand. “There is so much talent coming into this province but unfortunately not all these immigrants are working in their chosen fields of expertise nor can they find meaningful employment that compels them to stay,” she says.

“There are numerous international graduate students in our city with tremendous talents but I feel they will be vastly underutilized unless more is done. We bring these young professionals together and allow them to connect with other female business leaders so they can not only expand their professional network, but also help them feel like they are really part of our community.”

As if her day job and volunteer work weren’t enough to keep her busy, Keating and her husband are raising three daughters – Karoline, 13, Ava, 9, and Madeline, 7. A big basketball family, on Friday nights you can find them in the gym at Beachy Cove Elementary School, helping out with the basketball program or on weekends you could catch them at a MUN Seahawks game.

Keating is also a huge fan of Bruce Springsteen and, for the past two years, has been chasing the rock legend around on his Wrecking Ball tour. In fact, she has seen the Boss live in concert five times in the last few years.

Business NewS february 2015

MEET YOUR NEW CHAIR

Continued

She adds, “My goal is to make this a better place so that my children can live and prosper here if they so choose and enjoy the same quality of life if not better that I am enjoying. I have been really, really fortunate here. I graduated in ‘98, landed a job with a great company, travelled extensively, worked in a great industry with great people doing great things in my community. I had the opportunity to give time to the Board of Trade and other organizations to which I have affinity and I admire. I want to give my girls those same choices.”

Keating surrounded by female tradespeople at Bull Arm.

Sky’s the limit As a mother of young daughters, Keating says she can really appreciate the free and open society in which we live in. “You truly feel the sky is the limit in our province but sadly this is not the reality for young girls in many parts of the world.”

As for the year ahead, Keating says the succession process of the Board of Trade allows executive members to chair every committee, which gives them a true understanding of the issues facing the business community. “The issues this year aren’t necessarily new issues. We will still be talking about diversification, the importance of private public partnerships, the need for skilled workers, and how we must sustain our prosperity in the face of fluctuating commodity prices that are hallmarks of a natural resource based economy. I firmly believe as business leaders in the community we can and must work collaboratively with all levels of governments, community organizations and advocacy groups to work towards the common goals that we all want to achieve.

“Newfoundland and Labrador is too grand a land with so capable a people possessing such great an opportunity for us not to succeed.”

Progressive leaders call us to talk about our integrative approach to business needs and the health, productivity, and financial security of their people.

For more information contact: Linda Evans at 1.709.753.4506 Email levans@morneaushepell.com Or visit morneaushepell.com

Business NewS february 2015

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There are great opportunities in the North... let’s build them together The Arctic region has many major mining projects and vast natural resources. This province is strategically positioned and can be the path to the Arctic region. Newfoundland and Labrador’s knowledge and expertise of working in harsh environments, shipping industry, and geographic location truly make us the gateway to the north.

Our new Labrador and Arctic Opportunities webpage will offer valuable information about the Board of Trade’s initiative in the north.

As well, our membership will be able to visit and gain insight regarding work in the North.

Transportation, harsh weather, and aboriginal awareness are just a few of the important areas our site contains information on. We will also regularly inform you of the many success stories and showcase this great region.

Brendan Hagerty is the St. John’s Board of Trade’s Labrador and Labour Market Specialist.

2015 has arrived and the St John’s Board of Trade is extremely excited to unveil a new and informative portal for our membership.

To complement our main St. John’s Board of Trade website, we are now offering a second webpage dedicated to Labrador and Arctic business opportunities.

The Labrador and Arctic Opportunities webpage is a one-stop shop resource where our members can gain access to information pertaining to northern business development such as events, links, procurement opportunities in Labrador and the North, and links to aboriginal business.

The Board of Trade continues to recognize the importance of the Big Land and the prospective opportunities awaiting us. Doing business in Labrador has never been more exciting. Nalcor’s Muskrat Falls project and Vale’s Voisey’s Bay development are in full swing and we are excited to offer you the latest news and current information.

The Labrador and Arctic Opportunities webpage will continue to evolve and provide our membership with up-to-date information and opportunities, says Brendan Hagerty, the St. John’s Board of Trade’s Labrador and Labour Market Specialist.

Countless hours from dedicated Board of Trade Staff, as well as the creative minds at Dc Design House, helped make this site possible. We also would like to thank the Atlantic Canada Opportunities Agency for their assistance. “The St John’s Board of Trade has created a one-stop webpage which services various needs for members who are interested in exploring various opportunities in Labrador and the Arctic.

“Our site contains updated news articles on all the major projects in these regions as well as upcoming events. Business in Labrador is evolving and so will our Labrador and Arctic opportunities webpage,” says Brendan Hagerty, Labrador and Labour Market Specialist with the Board of Trade Our new and exciting webpage can be accessed directly from our stjohnsbot.ca, or directly at labradoropportunities.ca.

Group coverage.

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Contact your regional Business Development Manager.

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The Co-operators® used under license from The Co-operators Group Limited. Underwritten by COSECO Insurance Company and administered by HB Group Insurance Management Ltd., member companies of The Co-operators Group Limited. *Auto insurance not available in British Columbia, Manitoba and Saskatchewan. For information about our privacy policy, visit www.cooperatorsgroupinsurance.ca. This group insurance program is only available through our Contact Centre and website.

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Business NewS february 2015

AROUND THE BOARD

Lyle Wetsch offered a session on digital marketing for members, focusing on why paid digital advertising is key to small businesses on a budget.

Love is in the air at The Board of Trade has a great team of amba ssadors who help promote the growth of the Board and encourage members to partic ipate in our activities. You will see these ambassadors at our many events this year.

Say “I Love You” with our

Sweethearts Retreat Our Package includes both a gift to give & time to relax together:

Couples Massage Silver Swarovski Crystal Necklace

by Strung Out

Box of Chocolates

by Aunt Sarah’s Chocolate

All for just $199!(+ hst ) Limited quantities of this package available. Don’t disappoint your sweetheart!

Call or visit us today!

The St. John’s Board of Trade has received Accreditation with Distinction for the next three years from the Chamber Accreditation Council of Canada (CACC). To receive this accreditation, Chambers of Commerce and Boards of Trade from across the country are evaluated by the CACC against rigorous national standards of policy, service and performance.

Business NewS february 2015

19

AROUND THE BOARD

20

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March 31 for a chance to win a full www.stjohns.ca/ page of advertising for your business in the Fall 2015 edition registermybusiness of The City Guide, a $1,500 value.

Several students attended the luncheon with Justin Trudeau as part of our Student Scope initiative. Board of Trade First Vice Chair Dorothy Keating is seen with Emmanuel Gyan, a student sponsored by Nose worthy Chapman.

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Whether you’ve had a day of sightseeing or business meetings, the Greenwood Inn and Suites Corner Brook is a stay in style and comfort. With pillowtop mattresses and LCD flatscreen televisions in every room, enjoy the comforts of home while on the road.

Call to book your reservations today!

Ed Martin, President and CEO of Nalcor Energy, discussed work undertaken by Newfoundland and Labrador to prepare for winter 2015 during his recent address to the Board. He is seen here with Chair Sharon Horan.

greenwoodinn.ca

Sharon Horan was a guest of NTV’s Issues and Answers in January. She is seen with host Lynn Burry and journalist Michael Connors.

Sharon Horan’s final interview as Chair of the St. John’s Board of Trade was with CBC Morning Show host Anthony Germain.

1 800 399 5381

Board of Trade CEO Nancy Healey was a guest speaker at Memorial University’s Toast to Hire Learning event, which included speed networking sessions for students with employers.

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Life’s brighter under the sun

Member News Camouflage Software strengthens challenger position For the third consecutive year, Camouflage Software Inc., a leading provider of intelligent data discovery and data masking solutions, has been positioned by Gartner as a challenger in its most recent data masking Magic Quadrant report.

Cited as a “pioneer” in data masking, Camouflage’s challenger position was strengthened this year and the company praised for offering Dynamic Data Masking for relational database management systems and for XML messaging systems, along with its added ability to mask big data for Apache Hadoop and Cloudera distribution.

“Camouflage has built a solid reputation in providing the pioneering data masking product platform, so we are thrilled to continually be recognized by Gartner” The positioning in the Magic Quadrant falls in line with Camouflage’s plans to expand upon what is quickly becoming a top data security need and priority for

businesses: data discovery. While data masking has rapidly become a recognized must-have component for complete IT security, the one invisible threat that has been plaguing even the most lockeddown organizations has been hidden or disparate sensitive data at-rest.

Without having a complete map of all data within the organization’s sensitive data landscape, a business is almost as vulnerable to losses as though it had no data security in place at all.

“Camouflage has built a solid reputation in providing the pioneering data masking product platform, so we are thrilled to continually be recognized by Gartner,” said Camouflage President and CEO Kevin Duggan.

“We’ve enabled the world’s leading enterprises to stay ahead of threats and now we are especially proud to be able to take data protection even further.”

For more information go to: http://www.datamasking.com/

MetroPark open for business The Hardman Group Limited recently opened MetroPark, the city’s newest parking facility at 330 Duckworth Street.

Centrally positioned close to office buildings, cultural venues, the waterfront, restaurants and shopping, the parkade offers 416 parking spaces for monthly and hourly parkers.

To learn more about MetroPark, go to http://livedowntownstjohns.com/ metropark.php

Let us assess your business and provide solutions that can save you time, money and help your business grow.

Growing your business is our business.

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Registered trade-marks of Bank of Montreal.

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Business NewS february 2015

23

Member News Anti-aging innovations discovered in local plants After three years of intense research and development, Indigena Skin Care has discovered groundbreaking innovations in Newfoundland and Labrador plants, says Lisa Walsh, company founder and formulator.

According to Walsh research by Chief Scientist Dr. Poorva Vyas has proven that many plants in this province have more anti-oxidant compounds than similar plants growing elsewhere as a natural defence mechanism against our harsh climate.

These are the botanicals used in the newly launched Labrador Tea Night Crème and other soon-to-be released products throughout the coming months by the company.

Indigena Skincare is the creator of all natural skincare products, made from indigenous plants and botanicals from the surrounding land and sea of Newfoundland.

For more information go to: http://www.indigenaskincare.com/

Prima president named one of Canada’s top female entrepreneurs

been recognized by PROFIT/Chatelaine as one of Canada’s Top 100 Female Entrepreneurs for 2014.

The PROFIT/Chatelaine W100 ranking of Canada’s Top Female Entrepreneurs ranks female business leaders according to a proprietary formula that combines the sales, three-year revenue growth rate and profitability of their businesses. All data is verified through financial statements.

To qualify, candidates must be owners or significant stakeholders who at least share chief decision-making capabilities.

“I am proud of this recognition of our entrepreneurial achievement,” says Tremblett. “I thank my staff and my clients who have helped me to build Prima over the past 19 years.”

Prima Information Solutions is a leading Canadian information management solutions provider, with a strong focus on quality customer service and support, enabling organizations to manage information efficiently and effectively.

Founded in 1995, Prima’s base is wide and crosses a broad spectrum of Canadian business.

Prima is driven to improve and streamline processes within information management and conquer the exponential growth of electronic content in this technological age.

St. John’s International Airport launches new website St. John’s International Airport Authority recently launched a new website that offers a modern, updated look that integrates new features, including a responsive design in both official languages, while maintaining the most popular content and features of the former site.

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The website, developed by Triware Technologies, retains its URL: stjohnsairport.com.

Newfoundland Chocolate Company opens second location

“This recognition has also raised the profile of my company provincially and nationally which, we anticipate, will fuel further growth for Prima.”

For more information on the company go to: www.primaharmony.com

Prima Information Solutions’ President Patsy Tremblett has worked hard to build her company and her hard work has

Manning, Director of Marketing and Business Development with the St. John’s International Airport Authority. “This new and attractive website strengthens our ability to openly communicate with all our stakeholders, and shows our commitment to consistently enhance the travelling experience for passengers at our airport.”

“This website is an important communication tool that provides valuable travel information to passengers, and shares our activities and plans as an Airport Authority with our stakeholders and the general public,” said Marie

Business NewS february 2015

The Newfoundland Chocolate Company opened its newest chocolaterie at the Avalon Mall just before Christmas. As Chief Chocolate Officer (CCO) Brent Smith puts it, ‘it’s a little chocolate wonderland. It’s a place of chocolate waterfalls and chocolate moose.

A place where chocolate literally drips from the ceiling. A place where you can watch a little chocolate train chug its way around the shop, through a model chocolate factory and underneath a real cocoa tree.

And, of course, it’s a place of chocolate, but not just any chocolate … Newfoundland chocolate, made right on site and right before your eyes!”

INDUSTRY NEWS Canadian auto sales set new annual record

December sales were up 16.1 per cent to 131,393 compared with December 2013.

DesRosiers noted that 14 automakers posted new sales records in 2014.

Canadian auto sales soared to a record in 2014 as truck-loving drivers pushed sales up 6.1 per cent to smash the previous highwater mark set in 2013.

“This is the second year in a row that Canadians bought a record number of light vehicles,” DesRosiers said in a report published by The Canadian Pressy.

Fewer Canadians expect to achieve current financial goals: survey

According to sales data compiled by DesRosiers Automotive Consultants, automakers sold a total of 1,851,373 new vehicles in Canada last year, up from just more than 1.7 million the previous year.

The increase came as truck sales for the full year grew 11 per cent to total 1,087,581 from a year earlier. However, car sales slipped every so slightly to 763,792, compared with 764,382 in 2013.

GOLDER ASSOCIATES WELCOMES Elisabeth Luther as an Environmental Assessment Lead Join Golder as we welcome a locally recognized environmental assessment specialist to our St. John’s, Newfoundland and Labrador office, located at 62 Pippy Place.

Elisabeth has been involved in several large scale projects in Newfoundland and Labrador over the past six years. She has played a key role in completing one of the largest approved power sector environmental assessments in the province. She was also part of the owner’s team for a major iron ore mine in Newfoundland and Labrador, where she successfully managed the environmental assessment. A bilingual member of the St John’s community, Elisabeth currently serves as a Director on the Newfoundland and Labrador Industry Association (NEIA) Board of Directors.

Golder Associates is an employee-owned, global company providing consulting, design, and construction services in earth, environment, and energy. Contact Golder in St. John’s to learn how our team can help you plan your project and overcome your engineering and environmental challenges.

Engineering Earth’s Development, Preserving Earth’s Integrity.

A survey conducted for CIBC finds 65 per cent of Canadians ended 2014 feeling confident about reaching their current financial goals.

But that result, from the poll conducted by Nielsen, is down from 76 per cent in the same survey at the end of 2013 and is the lowest figure in five years.

Respondents aged 45-54 were the least confident, with only 58 per cent feeling upbeat about their financial goals, down from 77 per cent the before.

Only 61 per cent of Canadians aged 55-64 were confident about their current financial goals, down from 74 per cent in the most recent survey.

Younger Canadians more confident By comparison, 75 per cent of Canadians aged 25-44 said they are confident of achieving their financial goals, relatively unchanged from a year earlier.

CIBC also said 63 per cent of Canadians said they feel positive about their current financial situation, down from 70 per cent in survey a year earlier.

Get small business financing with federal government program Entrepreneurs often ask: how can the federal government help me with the financing of my business? It is true that a well-managed loan is vital for most businesses so have you heard of the Canada Small Business Financing Program?

For many start-ups and new small businesses, it can be difficult to access financing, so this program makes it easier for entrepreneurs to obtain loans from financial institutions. It allows owners to access financing at reasonable interest rates, and with less collateral.

St. John’s 709 722-2695 Email: solutions@golder.com www.golder.com

Financing can be made available for the start-up, for expansion, or for the

Business NewS february 2015

25

INDUSTRY NEWS improvement of your small business. You could be eligible for loans up to $500,000 of which no more than $350,000 can be used for equipment and leasehold improvements.

Most for-profit small businesses starting up or operating in Canada are eligible for these loans, as long as their estimated gross revenues do not exceed $5 million.

The program has assisted more than 142,000 businesses since 1999, with loans totaling about $1 billion each year.

Industry observers agree that small businesses are key to the strength of our economy and are essential in creating jobs and building economic growth.

To find a participating lender near you, visit the Industry Canada website at www.ic.gc.ca/csbfp, or call toll-free 1-866-959-1699.

Cheap oil might help economy: RBC report Perhaps an era of cheap crude won’t be so bad for Canada after all. A new bank forecast argues the financial blows of low oil prices on the Canadian economy could be more than cancelled out by the weaker loonie and additional consumer spending on both sides of the Canada-U.S. border.

The prediction, contained in a Royal Bank of Canada report and published by The

Canadian Press, is an outlier among many expert assessments that have projected low crude prices to be a net negative for Canada.

The bank analysis pointed to a combined effect of three “offsetting positive outcomes” from low-priced crude: a boost for the U.S. economy; the lower Canadian dollar’s benefit to exporters selling to the stronger U.S. market, and more spending by Canadians thanks to cheaper fuel.

The paper’s authors, however, are careful to underscore a key risk to the projection: cuts to business investment in Canada’s important oil and gas sector.

They warned reductions to oil production investment are “more certain to occur” than the positive, counteracting forces of lower-priced crude.

“Will consumers spend the savings realized at the gas pumps? Will Canadian exporters more aggressively seek out markets for their goods benefiting from the strengthening U.S. economy and a weaker Canadian dollar?” authors of the RBC Economics report ask. “Our current Canadian forecast assumes that both consumers and exporters will respond to these incentives that will slightly more than offset the expected weakening in oil-sector investment.”

RBC based its prediction on an assumed average price of US$65 per barrel in 2015 and US$74 in 2016.

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709 579 2161 www.bdo.ca

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Business NewS february 2015

Oil prices impact business optimism Oil prices have severely dampened small business optimism across the country, according to the most recent Business Barometer report from the Canadian Federation of Independent Business (CFIB).

Any potential boost in sentiment from lower energy costs has yet to materialize, while the diminished outlook in oil producing regions has been swift, says the CFIB. Optimism fell in eight of 10 provinces, led by 6.5-point declines in Alberta (to 66.2) and Saskatchewan (to 56.0) and a three-point drop in Newfoundland and Labrador (63.9).

Manitoba business owners also posted a sizable four-point slide in optimism to 59.6, while in the top three oil consuming provinces, Ontario (64.1), Quebec (58.2) and British Columbia (72.4), the slippage was between one and two points from November levels. Only Prince Edward Island and New Brunswick (both now above 65) saw business sentiment improve.

New Members Public Legal Information Association of NL

What are you @?

Notes from the @stjohnsbot twitterverse

@WPH_Law Congratulations to our own Andrew Wadden @wadden75 on his election as a Director with @stjohnsbot

Kevin O’Shea, Executive Director 31 Peet Street, Suite 227, St. John’s, NL A1B 3W8 709-722-2643 709-722-0054 director@publiclegalinfo.com

@wadden75 @WPH_Law @stjohnsbot proud to be joining the Board! Many excellent candidates! Congrats as well to @marilynvbutland & @Wilfred_Zerbe!

Jan Dicks Consulting Inc.

@Wilfred_Zerbe @wadden75

Glenda Nash Consulting

@ChrisEnsingCBC Nalcor President & CEO Ed Martin takes his seat at the @ stjohnsbot lunch. Set to talk about winter readiness

Jan Dicks, President / Owner 19 Torbay Road St. John’s, NL A1A 2G3 709-351-1172 Jandicks@nl.rogers.com

Glenda Nash, Owner & Principal Consultant 32 Frank’s Road CBS, NL A1X 6W8 709-770-5741 Gnash788@gmail.com

@WPH_Law @stjohnsbot @ marilynvbutland Thanks Andrew...I look forward to working with you and the other members of the Board...

@CDHoweInstitute Iceberg or

21inc

avalanche - No matter how you put it, #Newfoundland must get health spending in check.

Nadine Duguay, Executive Director 299 Champlain Street, Unit 4 Dieppe, NB E1A 1P3 506-389-2728 Nadine@21inc.ca

@Chris_Dunne Enjoying the @ stjohnsbot digital media session with @ LyleWetsch. Optimizing reach on a small business budget

GFL Environmental Inc.

Shannon Crawley, District Manager 30 Eastland Drive St. John’s, NL A1A 0N1 709-753-3030 709-753-3624 scrawley@gflenv.com

Furniture Medic St. John’s Vincent C. Estick, Owner & GM 642 Logy Bay Road, Unit #F Logy Bay, NL A1K 3B3 709-700-0220 vcestick@furnituremedicnl.com

Pat Curran Consulting

Pat Curran, Principal Consultant P.O. Box 206 Witless Bay, NL A0A 4K0 709-687-8774 pcurran@independentconsultantsgroup.ca

@TimminsChamber @stjohnsbot congrats happy to have you join us in the accredited with distinction group. Please send cake! #youreawesome

ChrisEnsingCBC The @stjohnsbot

@clovellygolf We are excited for the

“very concerned” about forecasted $900M+ deficit. Say this is time to look for investors in NL. #CBCnl

@stjohnsbot tradeshow next week! Be sure to pop by our booth to learn more about our new #TeamBuilding sessions.

@SantaClausInfo Bruce Templeton inducted into #International #SantaClaus Hall of Fame http://manintheredsuit. wordpress.com/2014/12/23/brucetempleton-inducted-into-internationalhall-of-fame … CC @ErinSulley @ RotaryStJohnsNW @stjohnsbot

@GardinerCentre Looking forward to the @stjohnsbot Business Summit on January 22. Drop by our booth to find out what’s new @Gardinercentre

@Jeffhynesremax @stjohnsbot: We’re celebrating our Accreditation with Distinction @stjohnsbot today! Congrats @oneillyatescbc Chair @stjohnsbot Sharon Horan: @GovNL should not balance books with tax increases.

Suggests 3rd party review of health care costs #nlpoli

@CIPO_Canada Heading to @

stjohnsbot Business Summit, Jan. 22? Visit our booth! #StJohns http://ow.ly/Hjebk

@Cre8ivStudio Booth is ready! @ stjohnsbot Business Development Summit Trade Show tomorrow runs from 10-4:30 at the @DeltaStJohns @StellasCircle Check out our booth tomorrow @stjohnsbot we’ll have treats from @HungryHeartNL!

Business News FebruarY 2015

27

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There are plenty of risks involved in running a business.

Buying insurance shouldn’t be one of them.

The Business Insurance section of Insurance Bureau of Canada’s website, www.ibc.ca, offers a variety of tools and tips for business owners buying or renewing their insurance coverage.

Topics include: �� choosing coverages, deductibles and limits �� the basic steps of risk management �� the business owner’s role as an informed consumer

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