Business News October, 2012

VOLUME 27, NUMBER 9, 0834-2012

OCTOBER, 2012

EXIT EXIT Realty Realty on on the the “ROCK” “ROCK” Let’s Let’s Talk Talk Commercial Commercial Real Real Estate Estate

Are you a non-accounting concentration student or graduate in the workforce that now prefers to have a professional accounting designation?

CMA Newfoundland and Labrador offer the Accelerated Bridging Program with a distance option, that enables you to obtain the prerequisites to write the CMA National Entrance Exam.

For 5 years running, 95% of the Fall Accelerated Program graduates successfully passed the CMA National Entrance Exam! Now that’s preparation and a huge success story!

The Certified Management Accountants of Newfoundland and Labrador are also proud to announce the new Executive CMA Program. The Executive CMA Program is an unparalleled opportunity for experienced senior business leaders to gain a professional management and accounting designation. The part-time program is pursued alongside an intimate group of peers within an expedited, yet flexible, timeframe.

The CMA Accelerated Program is an extremely challenging endeavor that I thoroughly enjoyed and found ultimately rewarding. It required significant commitment, but provided an excellent grounding in accounting and an indispensable basis on which to prepare for the CMA National Entrance Exam. The instructor, Jacques Maurice, was very knowledgeable and possessed that rare ability of explaining complex concepts in simple terms with humor and example. The program requires discipline, but for serious students the rewards are substantial!

Sincerely, Keith Matthews, MBA, CMA

HURRY: the January 2013 Accelerated Program session registration deadline is December 19th, 2012! Be sure to visit www.BecomeaCMA.com and contact our office as soon as possible for your CMA pathway evaluation.

Contents IN THIS ISSUE Business News is a monthly publication of the St. John’s Board of Trade.

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

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.

Editor: Printed by: Layout:

Alisha Morrisey British Group of Companies Roxanne Abbott

Steve Power Denis Mahoney Sharon Horan Kim Keating Jo Mark Zurel Paul Janes

Chair Senior Vice-Chair First Vice-Chair Second Vice-Chair Immediate Past Chair Secretary-Treasurer

ST. JOHN’S BOARD OF TRADE EXECUTIVE

COVER STORY

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CHAIR’S MESSAGE FEATURES

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KEEPING CURRENT MEMBERSHIP

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BOARD OF DIRECTORS Dallas Mercer Andrea Brocklehurst Wayne Bruce Heather Bruce-Veitch Lynn Sullivan Karen McCarthy Dorothy Keating Des Whelan

STAFF Nancy Healey Jennifer Chaytor

Lori Coleman Margie Davis Alisha Morrissey Shannon Lewis-Simpson

Wanda Palmer

Jackie Bryant-Cumby

Chief Executive Officer Manager of Finance and Compliance Business Affairs Manager Sales Manager Policy Research Analyst Manager of Policy and Communications Director of Sales and Member Fulfillment Member Relations Administrator

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

Business News

October 2012

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Cover Story Big Income for Investors Your Commercial Specialists ... EXIT Realty’s Latest Portfolio

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XIT Realty on the Rock has become an established name in the residential front across Newfoundland and Labrador and now franchisee Anne Squires is aggressively expanding the commercial division. This commercial division will operate with the same level of professionalism and readiness to compete as the residential division. At the helm are two very competent, well versed Realtors – Cliff Power and Wes Ryan.

Over the last several years in Newfoundland and Labrador the common denominator in water cooler conversation is the current value of residential real estate. With the average home having increased dramatically in value over the last five years the majority of individual savings is now equity in their properties.

The less discussed but even stronger bull market in Newfoundland and Labrador and specifically St. John’s and surrounding areas has been the commercial real estate sector. The current and future oil and mineral developments, the centralizing population and the strong overall economic indicators locally have caused both local and foreign investors, as well as businesses, to flock to St. John’s in hopes of maximizing growth on their investment capital.

Given the strong demand in this sector, EXIT Realty on the Rock has launched an entire Commercial Division to match investors and businesses with suitable accommodations and additions to their portfolios. With over thirty years as a Broker/Realtor and an abundance of experience in commercial transactions, Cliff Power, Manager of the Commercial Division at EXIT Realty on the Rock believes the key to EXIT’s commercial success will be their dedication to the specific needs of commercial clients.

“We have created a structure within the brokerage that allows us to create the deals, market properties and match investors to 2

properties in a manner that’s not possible in a traditional Residential real estate brokerage”.

When dealing in a commercial property or business the requirements on a Realtor are much more diverse and require a breadth of knowledge on the part of the Realtor in not only real estate but also in investment finance. According to Wes Ryan, Director of Marketing and Operations for EXIT Realty on the Rock Commercial, knowledge of cap rates, IRR and the understanding of financial statements is a must.

At EXIT Realty on the Rock Commercial Division we are not only trained in analyzing things such as cash flow models and financing but we also ensure our that our 90 plus agents are given a level of training in commercial as well.

This training will allow them to deal with their clients on a day to day basis while our specialized division can oversee the transaction as a whole and provide support where necessary.”

To help an investor capitalize on the growing commercial segment EXIT Realty on the Rock feel they have many

advantages. “What we have is a wide, diverse group of agents who are working their respective networks to find every investment opportunity possible. The Commercial Division acts as a nexus to bring these opportunities together. Once we match investments with investors we then have the expertise to bring that investment to fruition,” says Wes. Whether it’s leasing, buying or selling, the returns on commercial real estate in St. John’s are out competing many other investment vehicles at present and this trend is looking to continue into the future.

By trusting their capital to the right hands investors have access to many mid-to-long term investment strategies that can prove profitable.

A large percentage of buildings in this city have been owned by individuals for over a decade. This is their opportunity to liquidate to new investors and provide a nice retirement fund for themselves.

The opportunities for construction of commercial buildings is also a growth section for investment. With everything from small businesses to international corporations actively pursuing space requirements possibilities for capital allocation are seemingly wide open.

“Find the right Realtor, develop a strong plan and execute. That’s the name of the game.” When asked if EXIT Realty on the Rock Commercial could facilitate in that process, Cliff responded with an emphatic, “Absolutely!”

For more information on EXIT Realty on the Rock Commercial Division contact Wes Ryan (7096971772) or Cliff Power (7096828085) via email at: commercial@exitrealtynl.com October 2012

Business News

Chair’s Message Building your legacy

Chair, Steve Power

During October we will celebrate small businesses.

Small Business Week – held each year from Oct. 15 to 19 – is a time when we recognize the people behind the job creation, economic growth and diversification, and the energy in this city and province.

In Newfoundland and Labrador, the vast majority of businesses are defined as small, with less than 20 employees. More than half of the businesses in St. John’s have less than five employees, according to Statistics Canada. It stands to reason then, that the heart of the province’s economy really is small business.

Small business owners wake up every morning and go to work like you and I. But consider this: if a small business owner buys the wrong stock, opens a new location before the business is ready to expand, or makes one more bad business decision, they not only lose their job, but their livelihood, their family’s assets and their employees’ livelihoods. Small enterprise is full of risk, and opportunity.

Every day these entrepreneurs head off to work, full of purpose, ready for success.

That, to me anyway, is courage. And it should be celebrated.

Business News

The Board of Trade’s job is to help those is needed is a helping hand, a bit of luck, and a bit of faith on the part of the business people succeed by removing barriers and owner. challenges.

Today, one of the biggest challenges may So my challenge to small business also be one of the greatest opportunities. owners – a group of people I highly respect Mentorship.

Many of our members are nearing retire- and who are always looking for a challenge – is to hire and push young people. Make ment with no obvious heir apparent to take them excited about business. Make them over once they do so. excited Last about your month, business.

I urged “We need to not just hire young Give them business people and new grads, but mentor the opporowners to them. Train them. Teach them the tunity to take on succeed a more family business, even if they aren’t and to proactive blood relatives. They may become prove that role in they are mentoring family after all.” hardyoung working students and employees. I encouraged our members and capable. Treat them firm but fair.

Because, when you think about it, small to hire new graduates to grow our busibusiness owners and young people have nesses and keep the best and brightest a lot in common – they’re both willing to minds in Newfoundland and Labrador. I start something they’re passionate about also stated that employers must do away and are willing to work hard to make it with the notion that young employees are grow. only worth hiring if they had five or more By passing along a love of your years of experience. business, and a love of hard work, you’re We need to not just hire young people not just keeping the economic engine and new grads, but mentor them. Train turning over. them. Teach them the family business, You’re building your legacy. even if they aren’t blood relatives. They may become family after all.

We have a very strange situation where we have one of the highest rates of youth unemployment in the country, currently hovering just above 20 per cent, and we also have 21, 700 people on income support who say they can go to work.

My generation and the one that followed were encouraged to go elsewhere to look for opportunity, now I see my members’ businesses coping with the consequences of that.

In this province we have no excuse for unemployment of people under the age of 30. In fact, employers are crying out for people to go to work. We can’t chase away the next generation too, with preconceived notions about lack of work ethic in a younger generation. Sometimes all that October 2012

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Feature SIFE helps ex-military SIFE Memorial program helps ex-military start own businesses

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ineteen transitioning Canadian Forces members arrived at Memorial University recently to participate in Based in Business, a week-long entrepreneurial boot camp run by Students in Free Enterprise (SIFE) Memorial.

During Based in Business, faculty members in the Faculty of Business Administration teach budding entrepreneurs business basics. The program also provides real-life business advice through discussions with local business professionals. As well, participants develop their business ideas through one-on-one time with SIFE volunteers.

Susan Sampson, one of this year’s participants, grew up in Gander and is currently living in Lancaster Park, Alta.

She has accomplished much during her 26 years of service in the primary reserves, including rising to the rank of sergeant, completing her bachelor of education in math and raising her son as a single parent.

Now, she has set her sights on becoming a businesswoman – specifically, in the growing field of senior care. She wants to provide a bridge to seniors for independent living in their own home until a care facility is required.

“Based in Business is a great fit for me now that I’m retiring from the military on medical release,” Sampson says. “I have thought of opening my own business for several years and I hoped that being with other entrepreneurs would give me more confidence and knowledge to see my plans through the planning stage and move forward to reality.”

Sampson said the week-long experience helped her in numerous ways. She said that networking and brainstorming with the SIFE students, faculty and her fellow entrepreneurs was the most “enlightening and fabulous experience” she could have imagined.

Dr. Travor Brown, professor of labour relations and human resource management with the Faculty of Business Administra4

tion, has volunteered with the Based in Business program since its inception in 2009.

“One of the main reasons I decided to take part in it was about giving back,” Brown says. “It’s a way to take my background, my skills and experience and help those who fought and represented this country as they make the transitions to the next phase of Faculty of Business Administration student Diana Flemming their careers. (left) and Bruno Guevremont work together as part of “Each year has just been Students In Free Enterprise Memorial’s Based in Business, an incredible experience,” he an entrepreneurial boot camp for transitioning Canadian says. “The participants are so Forces members. motivated and eager to learn.

Photo by Geoff Ash They are so ready to start making the changes. Then I Commonwealth, offering more deserving guess for me, it’s amazing how much I get Canadian Forces members the opportunity caught up in their stories, in terms of what to turn their entrepreneurial dreams into brought them here, where they’ve been and reality.” where they’re going, so it’s certainly one of the most rewarding experiences I’ve had in my academic career.”

By: Diana Flemming Shane Skinner, president of SIFE Reprinted with permission from The Memorial, says Based in Business is a Gazette, a Memorial University publicaunique project that was started as a way to tion. give back to those individuals who serve in Canada’s military forces.

“It’s an honour to work with the brave men and women who dedicate their lives to serving our country,” he says.

Now in its fourth year, the project has grown in scope and reach. This year, SIFE Memorial was approached by both the Prince’s Charities Canada and the Canadian Youth Business Foundation (CYBF) to create a partnership in the form of the Prince’s Operation Entrepreneur program. This new partnership builds upon SIFE Memorial’s Based in Business boot camp with the addition of business planning support, access to startup and growth financing and specialized business mentoring from the CYBF and the support of Prince Charles.

Skinner says this partnership offers many new possibilities for Based in Business.

“We are excited at the prospect of expanding the program across Canada and ultimately to other countries in the October 2012

Business News

Feature Insurance break?

You won’t know until you call

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uiness owners within the City of St. John’s may save on insurance after a recent announcement that the city’s fire protection services for commercial buildings has been upgraded.

The St. John’s Regional Fire Department has been given a positive review by the Fire Underwriter’s Survey, an independent national organization which audits Fire Departments and provides public fire protection data to insurance companies for underwriting purposes.

The review looked at upgrades to the city’s water systems, which adds to the quality of fire suppression, and resulted in stronger grades for commercial insurance grades.

While this may not immediately lead to insurance savings for all businesses – because of the many factors included in insurance rates – the St. John’s Board of Trade would encourage members to call their commercial insurance companies to find out if they qualify for a discount.

The Insurance Bureau of Canada and the Fire Underwriter’s Survey explain that there are a number of factors that affect the cost of commercial insurance, including the type of business, what claims have been placed before and the insurance products available. As well, small decreases in the price may be offset by regular rate increases or an increase in the amount of insurance required for the building or business.

The new insurance grade classification – moving from three to one in the St. John’s region – is based 70 per cent on fire department related factors and 30 per cent on how well a municipality provides the necessary water to fire departments for firefighting purposes.

A Regional Fire Services Committee press release announced that St. John’s is one of three cities in Canada to earn the top classification. St. John’s shares the top of the list with Montreal and Hamilton.

Business News

The Regional Fire Services Committee is made up of representatives from the communities using the St. John’s Regional Fire service.

While the increase in municipal water infrastructure over the past decade was a key factor in the higher grade, the fire department itself won praise for its communications centre and administrative operations.

The Regional Fire Services Committee intends to continue to improve fire protection service delivery through the next few years including the approved $200,000design of a new fire station in the west end of St. John’s and two more fire department vehicles.

E and B Travel Service

Travel Professionals International dwinsor@tpi.ca http://www.tpiworldwide.com/eandbtravelservice/ St. John’s, Newfoundland, Canada October 2012

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Ambassadors Amy Tulk relations. We attend these events with the goal of helping execute the event, as well as receiving the full benefit of the event.

We are rewarded ten-fold for the few hours we give. I have met so many interesting people that I would not have met if I were not an Ambassador, and I have helped other members do the same.

We are living in an exciting city at a very exciting time with lots of growth, and the St. John’s Board of Trade has evolved in

keeping with that excitement and growth, and it makes me so proud to be a part of such a strong and innovative organization.

Amy Tulk Sales and Catering Manager @ Ramada St. John’s. Book your next meeting with us, contact Amy @ 757-3044.

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amada St. John’s has been a member of the St. John’s Board of Trade for over 15 years, and as the sales and catering manager, I have been lucky enough to avail of this membership for the past six years. After attending several events in my first couple of years with the company I immediately wanted to join the Ambassador team, but always shied away from actually joining, worried that I would not be able to commit the time. Sometimes you need to let go of the worry and just do what you feel is right. I am so glad I did, I am now going into my second year as an Ambassador and am enjoying my term to the fullest.

The Ambassador team is made up of a dynamic group of people from a broad mix of industry, all with a common inspiration.

We are all very passionate about our great province, and most especially our great city.

Being a member of the St. John’s Board of Trade we have the opportunity to develop professional relationships while attending networking events, educational sessions, and luncheons. Being an ambassador allows us to actually be involved hands on with event planning and member 6

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Business News

Ambassadors Brenda Kitchen

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eeting new people is essential to not only the growth of the company you are representing, but for your own personal growth. During my time as Ambassador I have met a lot of different people. Each of these people has inspired me in different ways. I am inspired to consider other perspectives, to stay on top of my industry and to be knowledgeable about current events.

There are great benefits to being a member of the Board of Trade. The St. John’s Board of Trade is the voice of business in our province. Policy and advocacy work is a large role we play. If you have questions or concerns please bring them forward, this is your chance to be heard. Please take the time to answer the surveys being distributed because the data is carefully considered. There are also numerous sponsorship and marketing opportunities, depending on the goals of your company.

Taking advantage of networking events with the Board of Trade is a great way to not only escape the office for a few hours, but also a chance to meet new people to grow clientele and to also make new friends. As an Ambassador I really enjoy attending our networking opportunities.

The Board of Trade membership is very diverse and you never know who you might be next to when attending a mixer or a lunch and learn workshop. Plus, the team at the Board of Trade are outstanding.

I hope to see you out to our networking events and remember that we all need to be inspired to continue to be the best we can because there is no day but today.

Brenda Kitchen is the Manager of Business Development with FIT For Work.

For information about FIT For Work please visit www.fitforwork.com or contact Brenda at bkitchen@fitforwork.com

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Business News

October 2012

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Feature Canadian companies face risk New bribery and corruption regulations cast a global net, expose Canadian companies to risk

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anadian companies are increasingly in the headlines for suspected bribery and corruption activities as countries around the world enact and enforce complex regulations around corruption and bribery – in particular, The US Foreign Corrupt Practices Act (FCPA) and now the new UK Bribery Act. This means Canadian companies are potentially exposed to new risks ranging from fines and reputational damage to jail time for convicted individuals.

Most significantly, these foreign regulations are not aimed exclusively at the domestic companies of these nations, making it clear that the fight against corruption transcends national borders and has become a global imperative. Regulators are developing sophisticated techniques and procedures for taking offenders to court, and they are defining jurisdiction more broadly than ever before. Under certain circumstances, even companies without operations in those countries can be the subject of investigations.

Canadian companies operating in global markets are subject to multiple foreign laws and are at risk on a number of fronts,

and that now includes bribery and corruption. Canadian companies must understand that these regulators mean business. As this risk landscape expands, companies need to understand local and international laws so they can identify, avoid and respond to unintended complicity.

Canadian companies must also keep pace with current and future changes in Canadian legislation, the Corruption of Foreign Public Officials Act (CFPOA).

Even with this domestic legislation, Canada has been singled out as the worst offender amongst G7 nations in their lax response to foreign corruption and Canadian companies are now starting to make international headlines. International pressure is increasing, and as a result, companies are seeing increasing enforcement of the CFPOA’s existing measures.

Also, given the rapidly growing cooperation between governments to prosecute corruption, there is the strong potential that the Canadian government will bow to pressure to create new, more aggressive domestic regulations that are more in line with international trends in enforcement.

There are some steps that Canadian companies can undertake to address known risks and help prepare for potentially even more broad global legislation in the future.

These include:

Cheryl Whitten •Understanding the specifics of the laws to which your company might be subject, especially if operating in areas of the world where the risk of bribery and corruption are high.

•Understand the risks and penalties for your company and its officers and directors.

•Using a detailed risk analysis to help understand some of the specific risks facing your company.

•Developing and implementing an effective anti-corruption policy with management “buy in” and responsibilities. Designing and implementing a proactive anticorruption program and controls to meet the challenges and requirements for your company’s specific situation.

•Ensuring that all staff and entities acting on your behalf are trained in your anticorruption policies and procedures.

Change is here, and it’s in your best interests to see that your organization understands the landscape. Grant Thornton LLP recently released Anti-corruption legislation casts a global net; Don’t get caught because you don’t know the rules, a white paper designed to help globallyactive Canadian companies navigate an increasingly complex web of international regulations.

Take charge, before the regulators take action.

To find out more, or download a copy of the report, please visit www.grantthornton. ca or contact Cheryl Whitten, CA-CIA, Senior Manager Business Risk Services, at (709) 778-8808 or Cheryl.Whitten@ca.gt. com Written By Sandy Boucher, Senior Investigator, Grant Thornton LLP

Business News

October 2012

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Keeping Current Policy matters

Finance Minister Speaks On Sept. 11, Federal Finance Minister Jim Flaherty spoke to the Board concerning federal initiatives towards economic stimulation. He stated that the government will implement Economic Action Plan 2012 to open new markets, increase Canadian exports and promote “responsible resource development.” He called upon the private sector to create more jobs, and publicly committed to the federal loan guarantee for the Lower Churchill development.

Mid-Year Economic Survey

The Board released its Mid-Year Economic Survey and 97 per cent of members said that present local economic conditions were ‘good’ or ‘excellent,’ an overall high level of business confidence in St. John’s.

The survey is available at www.bot.nf.ca and here are some of the highlights:

•“New business opportunities gained or lost” is still the most important factor in determining changes to a business’ financial position.

•Labour shortage was seen as the most critical issue facing businesses provincially, as it affects opportunities, debt and economic growth.

•Provincially and federally, debt and diversification were primary concerns.

•41 per cent of respondents felt that conditions are ‘better’ than a year ago, as opposed to 27 per cent in January 2012.

•Company spending among survey respondents has been more or less stable since January 2011.

•Employee skills and knowledge enable a company’s growth, along with competitive advantage, market share, and industry best practices.

•Half of the respondents have increased the size of their workforce since last year.

•Only three per cent of companies are employing less people than a year ago.

•More than half anticipated employment growth within their own business in the next 12 months.

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•Municipally, the main business concern was the tax regime. Available office space and other infrastructure also posed concerns.

October 2012

Availability of skilled labour in the St. John’s area remains the greatest challenge to businesses. The unemployment rate in St. John’s stands at 7.1 per cent as of July 2012, but the participation rate is the highest in Atlantic Canada at 72.3 per cent (Calgary’s participation rate is 74.5 per cent). The Board continues to address this challenge, meeting with government and other stakeholders about the issue.

Business News

Keeping Current Policy matters Minimum Wage Submission

The Board has submitted a position paper to the Minimum Wage Review Committee, which is available on our website. The Board has argued that any decision on minimum wage should reflect an understanding of the minimum wage demographic: both those who are making minimum wage and who are paying it.

An increase in minimum wage by itself is not the answer to alleviate poverty.

We advocate for qualitative initiatives to help those who are underemployed and undereducated progress in the workforce, such as further training, and a provincial transportation strategy.

By creating such tangible programs, the government can target specific groups in need without creating adverse situations for small business. Pre-committed wage increases are unwise and do not consider a volatile economic market nor the unique challenges that doing business on an island in the North Atlantic can pose, especially for small businesses. Flexibility needs to be established in minimum wage setting so that it considers the economic conditions for a given time. This ensures security and stability for local businesses.

Business News

Japanese Ambassador Visits Board of Trade His Excellency Kaoru Ishikawa, Ambassador of Japan to Canada, visited the Board of Trade on Sept. 12. He expressed his country’s gratitude for the assistance that Canada had given to Japan following the 2011 tsunami and commented on the efforts made so far to rebuild communities that were devastated. He discussed various exchange programs for Japanese students to study the natural resource sector in Canada, and commented on how Japan is very interested in Canada as a stable and predictable supplier of food, energy and natural resources.

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Feature host a business mixer

Get value from hosting a business mixer.

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ponsoring and hosting any kind of association business mixer is a great way to create company awareness, network directly with potential clients, and engage with the community, all the while generating favourable word-of-mouth for your brand. But often, a sponsoring company can become diluted by the more dominant association as they manage direct contact details such as registration and promotion. The mandate for associations like St. John’s Board of Trade is to advance and support local businesses to prosper, certainly not hinder them. So how can you ensure that you get the most from an investment in a business mixer?

On Wed., Aug. 15, Plato Consulting hosted its first St. John’s Board of Trade Business Mixer at the Bowring Park Bungalow. The event proved to be a success, but what steps were taken to help ensure that it was?

Here are some easy steps to follow to ensure your next sponsored event is a success: Live your brand.

Your brand should be No. 1, as you are the sponsor. This is often a one-time only opportunity for your company to get exposure, so make sure attendees leave 12

with your brand top-of-mind. Prominent visual displays should be peppered throughout the venue for visual impact, and to remind absent-minded attendees exactly who is hosting. In addition, bring along brochures and other promotional materials and place them in high traffic areas like the registration desk, or on cocktail tables around the venue. Let’s be realistic, most won’t bother reading them, but they provide another area to feature your logo and blurb about what you do, without putting on the ‘hard sell.’

Get creative!

An ounce of creativity doesn’t hurt when looking to have your brand resonate with attendees after an event. It can be as big as an overarching theme, or as small party favour. An approach taken for Plato’s Summer Business Mixer was spinning the event as a summer patio cocktail party to set the tone for the event at the invitation stage, and having a “Plato Cocktail” in our classic blue and orange palette, when guests arrived. Something like this is sure to be a conversation piece well after your event.

Connect with people you want to attend.

Like any association, not everyone is going to be in your target market for doing business, but don’t let this discourage you in your event marketing efforts, or in persuading a CEO in signing off on the idea! Make sure the people you want are at the event by creating a custom invitation, and targeting individuals you would normally invite to your own corporate events (that are association members as well). Many contacts you have that are members of an association may not be as engaged as others in their organization, or communications may not go directly to them. By extending the extra invitation, this increases your chances of having a quality mix of people in the room. Also, don’t be afraid to use your own channels as well. Take full advantage of creating a story on your website, and broadcasting it on your company’s social media. This targets your own and more engaged audience, and allows others to help you spread the word.

October 2012

Don’t forget post-event activities.

Once the event is over, make sure to ride the wave of momentum generated from the event, and continue to get as much exposure as possible. Thank guests for attending and create a news story to fill in those who didn’t attend on what they missed out on. Find out exactly who attended and determine if there is anyone that could generate a legitimate lead for your business.

Keep in mind: Events like these do not always translate into something quantifiable. The idea is to generate awareness and favourable word-of-mouth about your brand, and if you can achieve this then mission accomplished.

Allan Kirkpatrick is marketing specialist for Plato Consulting. For more information, please contact Allan at akirkpatrick@ platoconsulting.com, 709.576.6770, or follow him on Twitter: @allankNL

Business News

Feature Discovering Latin America

Discovering Opportunities in Latin America

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his July, a team of young Canadian leaders were selected to represent Canada on the international stage with Global Vision Junior Team Canada’s trade and development mission to Colombia and Panama. The 24 young adults from across the country embarked on a mission to build ties for Canada. This included Memorial University students Kyle MacDonald, who is studying medicine, and Jasmine Elliott, who is studying pharmacy.

Global Vision, through their flagship international program Junior Team Canada (JTC), selected the pair to represent Newfoundland and Labrador on the trade and development mission. JTC meets with business and political leaders, visits schools and healthcare facilities, and participates in local cultural activities.

All the while, the team promotes trade ties with Canada and seeks opportunities for Canadian companies in the countries visited. The team discovered many business opportunities in both Panama and Colombia.

One exciting opportunity that the team discovered was a multimillion-dollar, mixed-use real estate development project in Panama called Panama Pacifico. The project is based on the former US Howard Air Force Base site which lies across from Panama City and is right along the Panama Canal. In 1999, the Panama Canal Zone, including the air base, were returned to Panama. Now under Panamanian control,

Business News

the local government has decided to turn the site into one of the world’s largest special economic zones and has selected the British firm, London and Regional Properties, to develop the site. The cost of the project is over $700 million (US) and includes the construction of 20,000 homes, schools and universities, a golf course, large warehouses, corporate offices and a refurbished air strip. Panama Pacifico is destined to become an international hub of trade and commerce. Businesses located at the site will benefit from Panama’s many favorable corporate tax laws. Those establishing a corporate headquarters at the site pay zero corporate tax. All companies will benefit from other special tax and labour incentives in order to help attract multinational companies to the region. To date, companies such as Caterpillar, Dell and 3M have established offices in Panama Pacifico.

In May, 2010 the Canada-Panama Free Trade Agreement (FTA) was signed and this will now allow Canadian companies to take advantage of the massive development projects and growth occurring in Panama today. This includes Panama Pacifico, the $5 billion expansion of the Panama Canal, and the $7 billion Canadian (Inmet) Minera Panama Mining Project. The scale of these projects coupled with the open playing field generated by the FTA are creating huge opportunities for Canadian companies. Now is the time for local companies in Newfoundland and Labrador to investigate the Panamanian market and

October 2012

Business and Rural Development: Susan Vaughn, International Trade Officer, Latin America and Caribbean: susanvaughan@ gov.nl.ca

take advantage of the tremendous development and trade opportunities present in this region.

For more information, Kyle MacDonald: kyle.rodney. macdonald@gmail.com Jasmine Elliott: je3547@mun.ca Global Vision and Junior Team Canada: www.globalvision.caNewfoundland and Labrador Department of Innovation, 13

“Amazing!” “Love the variety, keep it up!”

SPEED NETWORKING

“Best BOT event in a very long time, definitely do this again.”

“Luncheon speakers are normally fantastic, keep up the good work.”

“Great keeping us on track, nice location, worked well with the layout.”

NETWORKING

SMALL B

“Great Networking event, need more of these.”

“Good comments, interesting.”

“Really great event, got a lot out of it. Enjoyed the format.”

“More “networking” focused events would be fantastic, really a great personal development and dedicated opportunity to meet new people and expand network.”

“Great event to meet new people.”

BUSINESS WEEK

October 14-20, 2012

The St. John’s Board of Trade “is” the voice of the business community in this province.

which will include some amazing events and opportunities for small business members.

And while much of our day-to-day work is focused on advocating for members with all levels of government and other organizations, we’re best known for our luncheons and networking events.

Add to this the opportunities to advertise and make free contact with the whole membership through an informative monthly magazine and a twice-a-week e-newsletter and the value of membership to a small business is already demonstrated.

These events allow small businesses to network with one another and with bigger business to develop opportunities.

There is something for everyone with the St. John’s Board of Trade and if you know of someone who could also benefit from joining then we have a Member Referral Program to thank you for your referrals and a Member to This month we’re celebrating your business Member discount program to help you get the as part of our annual Small Business Week, most from your membership.

We offer premiere events, from interactive and entertaining mixers to informative lunch and learns; from the best speakers at luncheons to our annual Business Development Summit and Tradeshow.

HERE’S WHAT SOME MEMBERS HAVE SAID ABOUT OUR RECENT EVENTS! “Fantastic luncheon and great meal.”

“Excellent speaker thoroughly enjoyed it!”

Luncheon “Nice, unique location.”

“Seamus was fantastic, hard to beat. But proud, successful Newfoundlanders and Labradorians are always a draw, especially those who now live away.”

TODAY IS A GOOD DAY TO MAKE THINGS SIMPLER

Insurance and investment solutions that fit your life. I can help.

Keith Vincent* CHS

Beverly Ellis*

Andrew Young*

ext 2234

ext 2229

Financial Centre Manager

FLMI ACS CHS Associate Manager

Wayne Bennett*

Reuben Buckle* CHS ext 2236

ext 2266

B. Comm.

ext 2256

Raymond Monnier* CLU CH.F.C. CHS

ext 2231

Gerald O’Brien*

CFP® CLU CH.F.C. CHS

ext 2230

B.A.Mus.

ext 2273

Glenn Sturge B.P.E. ext 2367

Tony McCarthy

BA (Ed) M.Ed Licensed Admin. Asst.

709-596-1358

Veronica Morgan*

B.Comm.

Licensed Admin. Asst.

ext 2243

© Sun Life Assurance Company of Canada, 2012.

Kelly Ivany BBA

ext 2224

ext 2364

Bobby Butt* ext 2248

FLMI ACS CHS

Joan Byrne*

Jamie Clements B.Sc. 709-753-2025

Brian Dinn* ext 2271

Rick Johnson* CHS ext 2235

Charmaine Kavanagh 709-595-2510

Leonard Morgan*

Eileen Moss* ext 2272

Pamela Dawe*

Sales Assoc. Advisor

ext 2237

ext 2254

ext 2244

Sharon Paddick*

Sales Assoc. Advisor

ext 2240

Lloyd Osmond* CFP® CLU CH.F.C.

ext 2228

Chris Peach* ext 2267

Lou Wells* Keith Wells* B.Sc. Sid Wells* CFP® CHS 709-745-3561 Wells Financial Services Inc. ext 2223 709-364-3400

Charlene Smith

Advisor Assistant

709-589-3361 888-589-3361

Shawna Tobin

Advisor Assistant

ext 2248

Financial Centre Administrator

Heather Adams ext 2366

Financial Centre Administrator

Greg O’Brien*B.Comm James Osmond* BA ext 2222 ext 2241

Conrad Vincent ext 2216

Jackie Hynes

Financial Centre Resource Team Leader

Monnier & O’Brien Financial Services Inc.

Kirk Newhook*

Sharon Sharpe

B.Comm.

Sales Manager

CFP® CLU CHS

ext 2238

Darren Roche*

Tammy Highmore

145 Kelsey Drive, Suite 100 St. John’s NL A1B 0L2 Tel: 709-576-6243 Toll free: 1-866-539-4087

*Mutual funds offered by Sun Life Financial Investment Services (Canada) Inc.

Ralph Rose*

Barb Forristall ext 2232

John Lynch* CHS ext 2247

Bob Murphy*

Robert Murphy Financial Services Inc.

709-579-6752

CFP® CLU CH.F.C.

Advisor Assistant

B.Comm. CFP® Upper Island Cove

709-589-3361 888-589-3361

B.Sc. CHS

ext 2226

Scott Adams*

ext 2227

Advisor Assistant

ext 2233

Mike Rowsell* BBA ext 2268

Kelly Layman

Advisor Assistant

ext 2225

Keeping Current Around the Board

Dennis Dillion of VOCM doesn’t do power point ‌ usually. In fact, that was the topic of his speech as he told Board of Trade members how to sell by building relationships at a recent lunch and learn.

Business News

October 2012

17

Keeping Current around the board

Cape Consulting enjoyed mingling with BOT staff and members.

Attendees watch a video about our amazing city which you can watch too at http://youtu.be/xgr5wo0qoIA

Integrated Logistics Services to help you create a leaner supply chain.

• • • • • • •

Cathy Duke, CEO of Destination St. John’s talks about the services the conference planning organization provides.

18

Freight Forwarding Customs Warehousing & Distribution Consulting Marine Agency Immigration Project Logistics

(709) 726-7596 www.pfcollins.com

October 2012

Business News

Keeping Current around the board

Federal Finance Minister Jim Flaherty spoke about how the federal government is planning on getting back to balanced budgets, how we survived the recession.

We announced the release of the results of our mid-year economic review, which were incredibly positive. See them on our website at www.bot.nf.ca

Dean MacDonald talked about the vital and positive role of the business community in our province. We have been thinking a lot lately at the Board about the positive influence that we do provide for our members and for our province. We should all remember that, without the private sector engine, the machinery of our province would halt completely.

Treasury Board President for the federal government, Tony Clement gave a subtle, but fascinating speech about the Canadian economic climate.

Business News

October 2012

19

Keeping Current around the board

Paul Thomey, our 28th president in 2003, focused on “Business & Education and Developing Partnerships towards Prosperity” during his term.

Andrew Collins, our 17th president in 1992, was known for going off script, but also of invigorating the membership and community.

Geoff Carnell, our 16th president in 1991, helped launch our first Economic Summit which focused on technology.

Bill Budgell, our 29th President in 2004, helped increase our membership more than 26 per cent!

Gary Reardon, our 33rd president, served in 2002 with an emphasis was on “Fostering a Positive Climate for Free Enterprise,” reducing red tape and other bureaucratic barriers to entrepreneurship.

9OUR D S BASE N O I T U L SO ZATION ORGANI

Call 726 2961

We hope you will wear your pins with pride!

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October 2012

Business News

Don’t miss out on a great opportunity Deadline Approaching Contact Wanda to advertise in our 2013 Board of Trade Business Directory.

2013 BUSINESS DIRECTORY MEMBER ADVERTISING RATES

Enhance your exposure & supplement your directory listing

W

ith over 1500 copies distributed, the St. John’s Board of Trade

Business Directory is the place people go to find the products and services they need.

You get wide spread exposure by advertising in our directory and high quality views - the kind of people you want seeing your ads. Plus, the directory stays on people’s desk for a full year. How’s that for shelf life!

Our membership, over 850 strong is comprised of the most well-respected and successful businesses this city has to offer.

Book your ad today!

Contact Wanda 726-2961, ext. 9 Email: wpalmer@bot.nf.ca

Annual publication: Exclusive to BOT Members

Ad size

Dimensions wxh

Regular rate

Logo

With listing, column width

$425

1/8 page

3.5”x2.25”

$555

1/4 page

H. 7.25”x2.5” V. 3.5”x5”

$890

1/3 page

7.25”x3.5”

$995

1/2 page

7.25”x5”

$1110

Full page

8.5”x11” full bleed

$1995

Inside front / back cover

8.5”x11” full bleed

$3120

Outside back cover

8.5”x11” full bleed

$4180

Front cover

8.5”x11”

$4675

Ads must be Camera ready At the specified dimensions Minimum 300 dpi, full process colour (CMYK) Provided no later than October 19, 2012 Ad position (other than logo with listing) cannot be guaranteed. All prices are subject to applicable tax.

Membership Members in the news

The St. John’s Board of Trade knows Cathy Bennett has made a huge impact on business in Newfoundland and Labrador.

But now she’s being recognized nationally.

Bennett was selected as one of the Top 25 Women of Influence, which is an annual profile in the Women of Influence Magazine.

The program is designed to honour and celebrate women who have demonstrated strong and unyielding leadership in one of 5 distinct sectors, over the last year.

The ranking is based solely on quantitative criteria including, how many boards they currently sit on, recent promotions and Awards, number of employees managed and amount of funds they’ve raised or revenue they’ve generated.

Other winners this year include Janet Davidson of KPMG, and Kirstine Stewart at the CBC. For a full list of winners visit http://www.womenofinfluence.ca/2012top-25-announcement/ The winners will be profiled in the Winter issue of Women of Influence Magazine, set to be released in November.

The public can vote for the woman they’d like to see featured on the cover of the magazine. Past women to grace the

Well-trained. Experienced. Safe.

cover include Margaret Atwood, Sarah Richardson, Bonnie Brooks and Venus Williams.

To vote for who you would like to see on the cover, visit http://www.womenofinfluence.ca/top25-vote/

Newfoundland Chocolate Company is the people’s choice Congratulations to the Newfoundland Chocolate Company on winning the Eat Atlantic Food Product of the Year award.

After six weeks of intense online voting, the only Newfoundland and Labrador company in contention took first place in the Co-Op challenge, which will result in plenty of publicity from Co-Op.

Levert works.

Since 1983, Levert Personnel Resources has recruited and trained skilled workers for the oil and gas, mining, and industrial workplaces where safety comes first. Joining forces with Whelan Petroleum Personnel Management, we’re proud to be part of Newfoundland and Labrador’s business community. We look forward to putting our staffing solutions at your fingertips.

levert.ca

22

October 2012

Business News

Membership Members in the news Lotek Wireless Inc., NorCan Pozzolan AS, Afinin Labs Inc., Firecraft Products Inc., Oceans Limited, Technip Canada Limited, Triumph Atlantic, Verafin Inc., Virtual Marine Technology Inc., Whitecap Scientific Corporation and WYSE Design & Development Inc. More information about these programs is available at www.rdc.org

Going South for the Winter?

It’s beginning to look a lot like Christmas Former Board chair Bruce Templeton has already gotten his Christmas gift. His story, a 33-year memoir of donning the red suit each year, has been published and will be the lead book for Indigo (Coles/Chapters) this Christmas season.

The book, titled “The Man in the Red Suit” includes 25 true short stories based on questions children have been asking Santa as he made nearly 1,000 local visits over the years. The forward is written by Danny Williams.

The book includes several stories of Christmas Eve in the Janeway Child Care centre and the profits from the book will go to the Janeway NICU and an international children’s charity

Sunwing wants to take you. Sunwing offers flights to Varadero, Cuba; Punta Cana, Dominican Republic; and Montego Bay, Jamaica and new destinations for the 2012-2013 season to Cayo Santa Maria, Cuba, and Cancun and Riviera Maya, Mexico.

For more information visit www. sunwing.ca. To book, visit your travel agent.

Barry Group to explore marketing opportunities Barry Group is expanding its marketing presence in Europe and Asia and will undertake a new market diversification initiative with a $16,000 investment from the provincial government.

The funding will primarily support travel as face-to-face marketing is needed to target evolving market issues for key pelagic and shellfish species.

2 Words.

Pillowtop Mattress!

Welcome Back to the Greenwood Inn and Suites.

All the comfort, convenience and quality you’ve come to trust, along with new improvements including pillowtop mattresses and LCD flatscreen televisions in every guestroom. Call to book your reservation today!

Come By Chance company gets boost from ACOA Eleven local companies get a boost from RDC Research focused on improving petroleum exploration, enhancing marine safety and preventing and detecting money laundering and fraud are among the 11 business-led projects receiving more than $1.3 million in funding from the Research & Development Corporation (RDC). RDC works with businesses, providing funding to assist with rresearch and development (R&D) activities focused on improving Newfoundland and Labrador’s R&D performance.

The companies are: Business News

The federal government is investing in productivity at Come By Chance. greenwoodinn.ca 1 800 399 5381 AMEIL Constructors Limited is acquiring new equipment that will help improve the productivity of plant operaLab West gets cash infusion tions as a result of a repayable investment of $500,000 is provided throughBofT theDay GuideThe provincial government is investing Ad.indd 1 12/16/2011 11:03:02 AM Atlantic Canada Opportunities Agency’s more than $4.2 million in Labrador City Business Development Program. and Wabush for much-needed municipal AMEIL Constructors supplies industrial infrastructure. services like welding and pipe fitting to Labrador City will receive $3.28 million heavy industrial projects in the province. to carry out municipal infrastructure This project will allow the company to upgrades including road repairs and sewer purchase new welding equipment and upgrades. In addition, funding will support make the necessary shop improvements to a needs assessment for the town hall/fire increase productivity. hall and design work for a replacement October 2012

23

Membership Members in the News building for the Lake Harrie Treatment Plant. Wabush will receive $1 million in funding to carry out street upgrades.

Funding is cost-shared based on population, with the Provincial Government providing 70 per cent of the total cost for Labrador City and 90 per cent of the total cost for Wabush.

Further investment focuses on the health care sector.

The new health centre in Labrador West has been allocated approximately $25.7 million and once complete, the health centre will represent an overall investment of approximately $90 million. In addition, $195,400 will be provided to the Captain William Jackman Memorial Hospital in Labrador City. This funding will be used to purchase new capital equipment including: laparoscopy equipment; EKG machine; electro-surgical generators; and video colonoscope.

To further enhance patient safety at the hospital pharmacies in Labrador City and St. Anthony, $300,000 is being allocated to implement an electronic patient medication profiling system at both locations.

The team too second place in the Social Impact category, which focuses on creating a campaign for a non-profit organization.

The $10,000 prize money is awarded by Google to the non-profit partner and will be used by AIESEC Memorial to promote its services to students and businesses in the province.

Local students win Google competition A student team from Memorial University has won $10,000 in Google’s Online Marketing Challenge, beating more than 11,000 competitors from 86 countries.

Congratulations to business administration undergraduates Beth Saunders, Virginia Greey, Barbie Bird and Scott MacDonald who competed in Google’s Online Marketing Challenge by creating a four-ad campaign for AIESEC Memorial, a local chapter of an international student organization that helps post-secondary students develop leadership skills through international internships and volunteer opportunities.

BDC Small Business Week

TM

October 14–20, 2012

St. John’s Business Centre | 215 Water Street, Ground Floor, St. John’s, NL A1C 5K4 bdc.ca/sbw | /bdc.ca | @bdc_news | 709 772-7320

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24

October 2012

Business News

Membership New Members / MEMBER PROFILES Island Office

Randy Hiscock, General Manager 59 Mews Place St. John’s, NL A1B 4N2 P: 709-579-0487 F: 709-579-4095 randy@ionl.ca

Pita World

Debbie Pride, Owner 585 Torbay Road St. John’s, NL A1A 5G9 P: 709-754-8896 F: 709-754-8873 pitaworldnl@yahoo.ca

Traders Exchange Ron King, President 321 Freshwater Road St. John’s, NL A1B 1C3 P: 709-754-5960 F: 709-754-5965 traders@nl.rogers.com

Century 21 Sellers Choice Neysa Kennedy, Realtor 33 Pippy Place St. John’s, NL A1B 3X2 P: 709-765-8823 F: 709-579-0021 neysa.kennedy@century21.ca

6

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Visit www.mmsb.nl.ca for more information.

At Blinds & Drapes Etc we specialize in custom window treatments and bedding, representing most national brands in blinds, shutters, fabrics, wallpapers and decorative drapery rods. We are proud to say that we are locally owned and operated, and are Newfoundland’s only Hunter Douglas® Showcase Dealer.

Beyond window treatments we offer an interior design service in new build and renovation projects, both residential and commercial.

Visit our showroom at 35 Stavanger Drive or at www.drapesetc.ca.

Focus Field Solutions Jeff Brown, CEO P.O. Box 4032 Mount Pearl, NL A1H 0A1 P: 709-699-9021 jbrown@focusfsi.com

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Business News

October 2012

25

Upcoming Events October events Lunch and Learn Series – Recruiting Abroad: How to hire international workers Join Greg Knott of the Regional Economic Development Board and Yvonne Myers of Work Global as they talk to members about what employers are required to do when hiring temporary foreign workers. They will touch base on what your rights and responsibilities are and how to get your new employee all settled in.

When:

Tuesday, October 2

Time:

12:30 pm – 2 pm

Cost:

Where:

$25+HST member discount $35+HST non member St. John’s Board of Trade Board Room 34 Harvey Road, 3rd Floor

Luncheon Join us as Honourable Kathy Dunderdale, Premier of Newfoundland and Labrador addresses the Board of Trade.

When:

Wed., October 3

Time:

12 pm – networking 1 pm - luncheon

Cost:

Where:

$50+HST member discount $100+HST non member St. John’s Convention Centre

City Matters MQO Research and the St. John’s Board of Trade wish to invite you to a special advance unveiling of what St. John’s residents think about our economy, lifestyle, government and other issues such as satisfaction with living in St. John’s, satisfaction with health care, safety in downtown and much more.

When:

Thursday, October 11

Time:

7:30 – 8 am Networking/Continental breakfast 8 – 9 am Presentation and discussion

Cost:

Where:

$25+HST member discount $35+HST non member The Bella Vista

Business Mixer The Rotary Clubs are excited to host a joint business mixer for the St. John’s Board of Trade members.

Not only will you get a chance to network with our business community but you also get to learn more about the Rotary Clubs, what they stand for, and how they are making a big splash in our community.

When: Thurs., Oct. 25 Time: 4:30 pm – 6:30 pm Cost: Included as a benefit of your membership Where: Bally Haly Golf and Curling Club

Lunch and Learn Series – Recruiting Abroad: How to hire international workers Join Sanchita Chakraborty, Diversity Training Officer and Settlement Worker with the Association for New Canadians as she provides diversity training for the workplace.

When: Wed., Oct. 10 Time: 12:30 pm – 2 pm Cost: $25+HST member discount $35+HST non member Where: St. John’s Board of Trade, Board Room, 34 Harvey Road, 3rd Floor

26

October 2012

Business News

Upcoming Events OCTOBER events Small Business Week Join the St. John’s Board of Trade as they celebrate Small Business Week from October 15-19. There will be a variety of activities including networking events, a luncheon and a local small business panel. See more details on our events below:

Speed Networking!

This new event was such a hit the first time we did it we had to do it again! Join other fellow members for an exciting, high impact and structured networking event that produces exceptional results.

Meet the Entrepreneurs Panel Come out and hear successful entrepreneurs discuss the challenges and opportunities they faced in launching their businesses. Stay tuned for panel speakers.

Guests are encouraged to bring business cards (make sure you bring a lot), any promotional material you would like to pass out and of course any other creative ideas you can come up with to accelerate your network in the business community.

When: Time:

Cost:

Where:

Tues., Oct. 16 Registration, Refreshments and Muffins (8:15am) Program and networking (8:30- 10:30am) $25+HST member discount $40+HST non member Clovelly Golf, 100 Golf Course Road

Luncheon

Join us for lunch as Emad Rizkalla, President and CEO of Bluedrop Performance Learning addresses the St. John’s Board of Trade.

When: Time:

Cost:

Where:

Wed., Oct.17 12:30 pm – networking 1 pm - luncheon $39.50+HST member discount $79+HST non member Comfort Inn Hotel

When: Time: Cost:

Where:

Thurs., Oct.18 Noon–2 pm - luncheon $25+HST member discount $35+HST non member The Fluvarium

Coffee “n” Contacts The New Entrepreneurship Training Program (ETP) for International Graduate Students is hosting a morning mixer for Board of Trade members. This program has been designed and developed to raise awareness of entrepreneurship and new venture creation for all student participants. Come meet these young professionals and extend your network because they are the leaders of your company in the future.

When:

Friday, October 19

Time:

8:30 – 10:30 am

Cost:

Included as a benefit of your membership

Where:

The Landing Room #UC3018 Third Floor of the University Centre

Note: Parking for the event will be available from 8:30am – 11:00am in parking lots 16 and 16A at no cost to the participants. Here is the link to the St. John’s Campus Map http://www.mun.ca/campus_map/stjohns/ Their building is #11 on the map and parking lots 16 and 16A are next to their building.

To register for these events contact Wanda Palmer at events@bot.nf.ca or call at 726-2961 ext. 9 Business News

October 2012

27