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September 2012
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Over 600 customers were in line for the recent grand opening of the new H&M store at Stone Road Mall. The 15,000 square foot space will employ approximately 30, with a mix of managers, full and part-time employees. H&M is about fashion and quality at the best price, giving people the opportunity to dress to their personality. The full concept store has something for the whole family. (Photo by Natasha Persaud, Venture Guelph Publications Ltd.)
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We’ve read the articles–the McGuinty government and the Ontario Lottery and Gaming Corporation (OLG) have announced the cancellation of the Slot at Racetrack Program. We’ve seen the signs on lawns–55,000 jobs to be lost across Ontario. With Grand River Raceway just down the road in Elora, how will this affect the residents and businesses within our communities? The Slots at Racetracks Program (SARP) was an agreement between OLG and 17 horseracing tracks across the province. With gaming already present at the locations, the government saw the introduction of slot machines at the racing venues as a perfect fit. Slots were first established at racetracks in West Virginia in the early 1990s and studies showed that there was a 20% to 30% reduction in horse wagering revenue at the racetracks that also housed slot machines. This knowledge was considered, along with capital costs, when SARP was first
introduced in Ontario in 1998. Described recently by the government as a subsidy, the program was in fact a partnership between the government and the horseracing industry. Racetrack owners and the horse groups received 20% of the revenue from the slots for hosting the machines, while the local municipality received 5%. “We are constantly reviewing programs,” says Liz Sandals, MPP for Guelph. “Provincially two-thirds of the revenue at racetracks is coming from the slot machines and one-third from the horseracing. Prior to SARP, 100% was coming from wagering on horses. You will not find another private business where two-thirds of the revenue comes from government funding. In business you need to have a viable business model and to have two-thirds coming from SARP is not viable.” “Other government programs with schools or hospitals have accountability as to how the money will be spent. The accountability rules with race-
tracks are non-existent,” adds the MPP. “For the SARP program to continue to work, we would need to beef-up the accountability. At this time however, the transitional panel has recommended the government not continue with the program. Many of the racetracks have become dependant on the slot money. There needs to be a transitional plan for this industry and perhaps a new smaller program. The transitional panel is looking at potential revenue streams moving forward–it might be slots, it might not.” Locally, Grand River Raceway employs 280 people–160 slot employees and 120 Grand River employees, a combination of full, part-time and seasonal workers, with yearly wages and benefits totalling $8 million. The facility alone brings $2 million to the community through goods purchased, and over $600,000 people visit Grand River each year. Between 2005 and 2012 the municipality of Centre Wellington received $11 million in revenue from the slots
by Heather Grummett
at Grand River, with 100% of the funds allocated towards infrastructure projects. With 407km of roads in the County and 104 bridges, of which 34 bridges are in critical need of repair, the revenue from slots has had an enormous impact to local communities. Across Ontario, nine cents on every dollar from the municipal tax base stays within the municipality, with the majority going to the government. In Centre Wellington three cents of the nine is allocated to capital projects. Over the last seven years in Centre Wellington, the 5% slot revenue agreement has made up 45% of the expenditure budget for capital projects. “We didn’t put any of the slot revenue into operating costs, so the loss of the slot program will not affect taxes. However, we won’t be able to move forward as soon as we hoped on many of our capital projects,” says Mayor Joanne Ross-Zuj, Township of Centre Wellington. – continued on page 13
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340 Woodlawn Road West, Guelph Units of 2,500 SF of commercial space available in high-traffic area. Up-to 7,500 SF of contiguous space available. Easy access to Hanlon Expressway. Ideal for restaurant, office or service establishments. Minimum Rent: $9.00/SF.
485 Silvercreek Parkway North, Guelph
21 Malcolm Road, Guelph
10 Kingsmill Avenue, Guelph
2,160 SF available in plaza located at Woodlawn Road and Silvercreek Parkway. Easy access from Hanlon Expressway. Ample free on-site parking. Minimum Rent: $11.00/SF.
8,320 SF freestanding industrial building for sale conveniently located with easy access to Guelph and Waterloo Region markets. Features approx. 2,000 SF of finished office space. Three drive-in loading doors (one with internal leveler). 16’ clear ceiling height. 400 Amp electrical service. Paved, fenced-in yard. Asking Price: $950,000.00.
+/- 35,500 SF industrial space for lease in centrally located building. Features 17’ clear ceiling height, 2 dock-level and 2 drive-in loading doors. Includes approx. 3,800 SF of office space. Minimum Rent: $3.75/SF.
50 Cork Street East, Guelph
15 Surrey Street West, Guelph
Approx. 1,150 SF of second storey office space available in professional building. Located downtown Guelph within walking distance to all downtown amenities (ie: banks, restaurants, etc.). Across from Cork Street municipal parking lot. On-street parking also available. Minimum Rent: $8.50/SF.
Approx. 2,537 SF available in professional service plaza. Free on-site parking. Close to downtown amenities. On bus-route. Located next to established medical centre. Ideal for professional/medical office. Minimum Rent: $14/SF.
300 Willow Road, Guelph
161 Waterloo Avenue, Guelph
Approx. 760 SF office space available in professional building with on-site parking. Easy access to Hanlon Parkway and other amenities. Across from large retail mall in high traffic area. Monthly Rent: $999.00/mo. includes utilities.
Professional second storey office space for lease in recently renovated building. Central location in close proximity to downtown amenities. On-site parking available. Minimum Rent: $750.00/Month.
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The Realtor and its agents have relied upon the owner and other sources for the information provided in this material and although we believe it to be substantially accurate, it is all subject to verification by the prospective purchaser or tenant and his/her/its respective legal, tax and other advisors. The Realtor and its agents assume no liability for the accuracy or use of this information in any manner by anyone and reliance upon or use of this information by anyone is solely at his/her/its own risk. The Realtor and its agents reserve the right to change prices, terms and other conditions or withdraw the property from sale and/or lease without notice. This material does not constitute an offer for sale or lease. Not intended to solicit properties currently listed for sale or lease, or to entice parties to breach any existing agency contracts.
September 2012 page 2
VENTURE GUELPH PUBLICATIONS LTD. Business Venture 19 years in 2012!
DUCA–a credit union that pays Known today as DUCA Financial Services Credit Union Ltd., the original Dutch Canadian Credit Union opened in 1954. Operating at that time as a closed bond credit union, the financial services were available only to members who were Dutch Canadians and new Dutch immigrants coming to Canada. Years later DUCA changed to the more common open bond credit union that it is today, where anyone can become a member by purchasing one share for a small nominal fee. Membership makes you a part owner and gives you the ability to vote or run for the board of directors. DUCA believes in a “people-centric” approach to banking. With no-fee to low-fee chequing accounts, user fees are structured so that you pay only for the services you need. ATMs are available 24 hours at all DUCA branch locations. Plus, as part of THE
by Heather Grummett
EXCHANGE® Network, DUCA members can also bank at over 2,300 ATMs across Canada bearing THE EXCHANGE® logo. Members can easily withdraw cash, perform balance inquiries, make deposits, and transfer funds, all with no additional surcharges. A downloadable App makes it easy for members to find the nearest ATM with their mobile device. DUCA members benefit from profit sharing, a concept that is more common with credit unions in Western Canada. Since 1999, DUCA has shared over $65 million in profits with members through their profit sharing “Bonus Share” program. Last year alone DUCA distributed over $5 million in Bonus Shares. These shares are distributed to membership based on the interest paid or received in the previous calendar year to a maximum of $1,000. “No other credit union in Ontario really offers the scale of profit sharing that we do at DUCA,” says Chris
Zegers, Marketing Manager for DUCA Credit Union. “Our profit sharing program provides added value for our members who already enjoy some of the most competitive interest rates in the GTA.” That is money that clients can transfer to an RRSP and enjoy the tax savings; or for clients starting out with a new home, it is money that can be used to make payments back to the first time Home Buyers Program. As a co-operative, credit unions are very community based. DUCA believes in giving back to the communities it serves, but also the global community. In May of this year DUCA celebrated reaching their goal of raising $150,000 for the DUCA Village, a joint project with Opportunity International Canada, a charitable organization which provides micro-loans and banking services to third world countries. The funds raised will provide banking services in a small town just North of Cartegena in Colombia. DUCA’s 2nd
Throughout 2012 Business Venture will profile a local co-operative within our community, to celebrate the United Nations declaration of 2012 as the International Year of Co-operatives.
Annual Charity Golf Tournament to be held on September 12 will raise funds for Make a Wish Canada and branch designated charities. In 2011, DUCA merged with Virtual One Credit Union, giving the credit union 15 locations across Central and Southern Ontario with 41,000 members. The Guelph branch is located at 779 Woolwich Street.
Proposal to permit credit unions to operate nationally On July 5, 2012, Finance Minister Jim Flaherty announced a proposal that would permit credit unions to be incorporated and regulated at the federal level. In Budget 2010, the Harper Government announced the creation of a federal option for credit unions and introduced related legislation. After extensive consultations with credit unions, the proposed regulations will bring this framework into force. This will enable credit unions that choose federal incorporation to operate more seamlessly across provincial borders and to benefit from oversight by the Office of the Superintendent of Financial Institutions. A recent press release quoted the Minister as saying, “credit unions are used by millions of Canadians for financial services similar to those offered by large banks,” said Minister Flaherty.
“The proposed regulations will give credit unions the flexibility they require to grow beyond their provincial borders and benefit from Canada’s world-leading federal regulatory framework and oversight.” “Allowing credit unions to operate nationally will give consumers greater financial choice and spread the benefits of federal regulation to more Canadians. As a result of these changes, credit unions will be able to improve the services they offer,” added Minister Flaherty. A recent press release by the data collection firm, Corsential, showed one half of Canadian credit union members surveyed were unaware of the government proposal to allow credit unions to expand beyond their provincial borders and incorporate federally, although the majority would –continued on page 12
DUCA is not your average bank. We are a credit union that pays! Find out how at duca.com.
Connect with a company built on co-operative values. Co-operators staff and insurance advisors have been helping to make Canadian communities safer and healthier places to live for over 65 years. We support community partners and volunteerism through programs such as Volunteers in Action and our Buckle Up Bears car seat safety clinics. For more information, visit www.cooperators.ca.
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September 2012 page 3 VENTURE GUELPH PUBLICATIONS LTD. Business Venture 19 years in 2012!
Business to Business
Profiles, Technology, Legal, News & Announcements
Editor’s message
ActionCOACH, gives advice on improving your conversion rates (below). He has over 30 years of business experience Welcome to our fall issue of Business Venture. Holidays are in both large corporate environments and small entrepreneurial organizations. His background includes senior over, the students are back in school and local businesses are heading into the final quarter of the year. Fall is a good management roles in Finance, Systems, Operations, Supply Chain Management, and Quality and General time to refine the details in your business and finances, to Management. provide a strong finish to the year. If you are considering selling your business, Michael In this issue we are excited to have articles from four new Paterson from Robbinex gives his top ten tips (page…). writers who share their expertise with you. Matthew Phillips from Richardson GMP Ltd. has been in With a BA and MA from University of Guelph and an MBA from Dalhousie University, his previous experience as the financial services industry since 1989 and holds many a financial advisor specialized in succession planning and industry accreditations including Certified Investment Manager (CIM), Fellow of the Canadian Securities Institute employee benefits for small and medium sized businesses. Gerry Barker shares his opinion on bringing business to (FCSI) and Portfolio Manager. His article (page 5) discussGuelph (page 8). Gerry worked for the Toronto Star for 16 es options for your investments. years as a reporter-photographer, feature writer, entertainTony Roy, a certified Business Coach with
ment writer, daily columnist, editor and assistant managing editor. Over his career he has built a community newspaper into the Bradford Paper Group and developed a new Canadian business magazine called Vista. As always thanks to our writers who make Business Venture an informative business-to-business newspaper and to our readers who continue to make Business Venture a well-known publication in our community. Our next issue is distributed in October. Contact us at infoventure@golden.net with your upcoming business news and announcements. Heather Grummett, Editor Venture Guelph Publications Ltd. Guelph, Ontario
Top 10 Tips when selling your business
Venture Guelph Publications Ltd. would like to welcome Natasha Persaud to our team, as our event photographer. Natasha is the owner of NP Photography, specializing in portraits for family, newborns, and engagements; weddings; corporate headshots and events; real estate shots; and commercial product photography. Watch for Natasha at upcoming community events and business functions, capturing great shots for our Activity and Events Guide and Business Venture publications. We would love to hear about the photo opportunities at your upcoming events. Contact us at 519-824-1595 or infoventure@golden.net to share your event details. Call or e-mail Natasha today for introductory photography pricing and grand opening giveaways! 519-830-3300, npersaud.photography@gmail.com
submitted by Michael Paterson Most of us have experienced those highs and lows that come with selling a home. Chances are you’ll go through that process a few times in your life. However, not many of us participate in the sale of our own business more than once. Businesses are often something you retire from, unless you’re the owner. Many business owners are very unprepared for what’s involved in the sales process. After all, you don’t just stick a For Sale sign on the front lawn of your office building. Selling a business is a long and complex proceeding, requiring as many as 1,500 to 2,000 hours. Therefore, there is a growing trend to using business intermediaries to broker the deal. Based on our 38 years of experience in helping people sell their businesses, this list should help make the experience a positive one. 1. Be reasonable about the value of your business. Inflated expectations interfere with your business intermediary’s ability to negotiate the best value for you. 2. Carry on business as usual. Don’t become so obsessed with the transaction that you ignore day-to-day demands. Your eventual buyer will need to see a healthy business, not one suffering from neglect. 3. Keep the sale process strictly confidential.A breach of confidentiality surrounding the sale of a business can alter the transaction dramatically. Any potential purchaser looking at a business for prospective purchase must sign a confidentiality document. (A corporate lawyer can prepare such a document for you. Samples at www.robbinex.com). 4. Prepare for the sale well in advance.Be sure your records are detailed and complete for at least the past few years and do all pertinent legal or accounting housecleaning as well as a physical
sprucing up of the plant or office. 5. Anticipate information the buyer may request.In order to maintain financing, the buyer will need appraisals on all assets, plus information to satisfy any environmental regulations that may apply. 6. Achieve the highest price through buyer competition. Since this can be tricky, you’re advised to let your intermediary, as a third party, create a competitive situation with buyers to position you for the best transaction value. 7. Be flexible.Don’t be the kind of seller who wants all cash at the closing, or who won’t accept any contingent payments or an asset transaction. 8. Negotiate,don’t dominate. You may be used to being your own boss, but the buyer may be used to having his way too. With your intermediary’s help, decide in advance when to hold and when to fold. 9. Keep time from dragging down the deal. To keep the momentum up, work with your intermediary, your accountant, your lawyer and other required experts to be sure that potential buyers stay on a time schedule and that offers move in a timely fashion. 10.Be willing to stay involved.Even if the process has been exhausting, realize that the buyer may want you to stay within arm’s reach for a while. Above all, remember that planning ahead is key. Too many business owners fail to plan for the day when they will want to sell. Then something happens–most often a health problem–and they are forced to sell quickly. Rushing to sell can result in a failure to recoup the true value of the business. The best time to sell is when you don’t have to. Michael Paterson MBA MA, Robbinex Intermediaries, 519-362-7679 or michael@robbinex.com
Natasha Persaud Superb options for Cremation Interment
Complete with a new calendar of events and photo gallery, the site continues to be your access point for news and events taking place in our community. Coming soon! Visit www.ventureguelph.ca now to view the latest issues of Business Venture and the Activity and Events Guide.
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Finance
Business and Personal
Stashing cash–alternatives for money market investors by Matthew Phillips With investors continuing to maintain above average cash balances, it is important to achieve the best possible return in what continues to be a low rate environment, especially as inflation continues to erode purchasing power. Indeed, inflation can and is eating into the value of your investments. The following chart highlights the yield on a 3-month Government of Canada Treasury Bill, versus the Canadian Consumer Price Index. The chart highlights that since 2009, the yield on money market securities has been below the rate of
7.00%
inflation. In other words, your assets are losing purchasing power. However, inflation has started to abate–as of July, the annual rate of inflation has fallen to 1.3%, suggesting investors can once again achieve a positive real return on their assets. The following table highlights current short-term offerings from Richardson GMP (as of August 30, 2012): Security/Investment type Investment Savings Account 90 day Cashable GICs 1 year GIC 90-day Treasury Bill
Rate* 1.20% 1.45% 1.90% 1.02%
Consumer Price Index vs. 3-Month T-Bills
6.00% 5.00% 4.00%
90-Day Bankers Acceptance 90-Day Commercial Paper
1.12% 1.16%
* Rates are subject to change without notice
Further details of each of these investments will follow in our next article. Essentially, the table highlights that investors in money market securities still likely need to lock their funds in for a year just to keep pace with inflation. In addition, we note that products focused on the retail investor–namely Investment Savings Accounts and GICs–offer an enhanced yield versus wholesale money market instruments, despite their lower credit risk (CDIC insurance is on top of the guarantee of the underlying issuer), and lower market risk (investors have the option of “cashing in” their investment despite
what market rates do). That being said, we also note that the gradual rise in money market yields does indicate that markets are expecting higher yields in the months ahead, and hence, staying in short term funds for now may indeed pay off as investors may be able to reinvest at higher rates. In the interim, clients are best served by keeping very short-term funds in Investment Savings Accounts or in Cashable GICs, as these yields continue to exceed those available from money market securities. For those willing to lock in a little longer, securities with a maturity six months or longer now offer a premium to these retail focused products. For those willing to take on some credit risk, Commercial Paper does offer higher yields on three-month money.
Ontario AGRICentre 100 Stone Road West, Suite 301, Guelph Telephone: 519.822.4680 Fax: 519.822.1583 Toll-Free: 1.866.658.0092 www.millerthomson.com
EMatthew Phillips, CIM, FCSI, Portfolio Manager, Director, Wealth Management, Richardson GMP Limited. 519-780-4171 or Matthew.Phillips@RichardsonGMP.com The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Richardson GMP Limited or its affiliates. Richardson GMP Limited, Member Canadian Investor Protection Fund. Richardson is a trade-mark of James Richardson & Sons, Limited. GMP is a registered trade-mark of GMP Securities L.P. Both used under license by Richardson GMP Limited.
3.00% 2.00%
3-month T-Bills
1.00%
CPI
0.00%
-2.00%
1-Dec-97 1-Dec-98 1-Dec-99 1-Dec-00 1-Dec-01 1-Dec-02 1-Dec-03 1-Dec-04 1-Dec-05 1-Dec-06 1-Dec-07 1-Dec-08 1-Dec-09 1-Dec-10 1-Dec-11
-1.00%
Source: Bloomberg
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Partnership between Canadian Youth Business Foundation and Innovation Guelph The Canadian Youth Business Foundation (CYBF) and Innovation Guelph have announced their exciting new partnership in support of local young entrepreneurs. The mission of Innovation Guelph is to help enterprises start, grow and thrive. The focus is on three core areas: expert coaching and mentorship, capacity-building programs and industry-academic partnership facilitation. Innovation Guelph offers a single doorway for entrepreneurs to access services through a comprehensive network. “Innovation Guelph is looking forward to partnering with the Canadian Youth Business Foundation” says Innovation Centre Director Kristel Manes. “Their initiatives, including mentorship and funding programs, will catalyze our young entrepreneurs, as we work with each candidate and our respective teams through the business life cycle”. As Canada’s ‘go to’ place for youth entrepreneurship, CYBF is dedicated to helping our nation’s economic development, one young entrepreneur at a time. Working
with youth between the ages of 18-34, this national organization looks at character, not collateral when providing pre-launch coaching, business assistance, start-up financing and mentoring. Through these resources, CYBF helps young people launch and sustain successful entrepreneurial businesses. CYBF is able to deliver these programs across the country through important community partnerships with organizations such as Innovation Guelph. “CYBF is dedicated to the success of young entrepreneurs across the country. We are delighted to have Innovation Guelph come on board as our newest Community Partner, said Tanya Bedard, Director Ontario, CYBF. “We are building our partnership on a shared vision–making sure that entrepreneurs start with the tools they need to succeed–and with this strong foundation it is sure to be a great alliance that will help many young entrepreneurs in the Guelph region.” For more information please visit www.innovationguelph.ca or www.cybf.ca.
Funeral Home and Chapel Ltd.
“Wellington County's Oldest Family Owned Funeral Home”
Pre-arranging one's own funeral is now widely practiced across Canada. Gilbert MacIntyre & Son have been helping individuals and families with funeral prearrangements for almost 80 years. If you would like to make an appointment to discuss prearrangements, please contact us. Or, if you like, you can prearrange your funeral online. You will be asked the same basic questions you would in a one-on-one prearrangement meeting; but within the "comfort" of your own lifestyle. Our experience in dealing with prearranging funerals has lead to the development of the GILBERT MACINTYRE & SON TRUST PLAN for those who wish to pre-pay their funeral expenses.
Info@gilbertmacintyreandson.com
www.gilbertmacintyreandson.com September 2012 page 5
Representing three generations of funeral service - Established in 1933
75 Years–2008
The GILBERT MACINTYRE & SON TRUST PLAN retains all the advantages of the pre-arranged funeral, but goes further with respect to the financial advantages. · The GILBERT MACINTYRE & SON TRUST PLAN is hedge against inflation. The cost of the funeral will never increase, no matter how long it is before the funeral services are required. · Pre-payment reduces the financial demands on the survivors. Costs will be paid out of income now, rather than from much needed funds of the estate. · Like a paid-up life insurance policy, this plan is of immediate and far-reaching benefit to survivors.
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· Interest on funds held in a GILBERT MACINTYRE & SON TRUST PLAN is tax free. · The GGILBERT MACINTYRE & SON TRUST PLAN may be purchased on a convenient time payment plan. Usually the prearrangment service is entirely paid for by the time it is needed, thereby relieving the family of expense at the time of the funeral. · Money is held in trust and fully refundable any time.
The GILBERT MACINTYRE & SON TRUST PLAN is designed to comply with all regulations under the Funeral Services Act of Ontario and is fully insured.
Preplanning
Opinion
Why industrial growth is important to Guelph
Random Act of Kindness Day
Mark your calendar for The Guelph Community Foundation’s third Random Act of Kindness Day on Developing industry and commercial development in There has been a modest increase in residential devel- were blunt in their assessment: Guelph is not a welFriday, November 9. the city brings two things to the party. opment–just look at the east and south ends, of the city. coming place to do or create business. Random Act of Kindness Day is an opportunity to Certainly there has been some significant growth in The first benefit is an increase in assessment. That In recent months this attitude within the adminisdo something kind for someone else, to appreciate means additional tax revenue to support the growing commercial and industrial development. However, it tration has changed. Nothing dramatic but a realiza- our fellow citizens and for community building–It’s is chiefly offset by the downdraft experienced in the needs of Guelph. This eases the load on residential tion that their policies are not in the best interests of NOT about fundraising or giving money–just a day 2007-2008 global economic recession. owners. the stakeholders, the taxpayers. to celebrate kindness. Kindness is contagious, that’s a What does this mean? The second is bringing jobs to the community. This I look at Guelph as an oasis in the southwestern proven fact. The City of Guelph stagnated in terms of increasing Ontario. It is a neat city and one that cries out for means offering employment opportunities to citizens Simple acts of kindness are endless! Buy someone living in the city to work without commuting to other the industrial/commercial assessment ratio of 16 per development of businesses that will enhance the a coffee, congratulate someone on a job well done, cent of the total assessment of the city. communities. lifestyle of all citizens. offer to drive someone to an appointment, hold a One of the problems was that the current adminisTo most people this is self-evident. A career newspaperman, Gerry Barker is the author door open, pay a parking meter, carry someone’s tration created an uncomfortable atmosphere of wel- of three books and operates a blog titled In the past almost six years the ratio of industrigroceries, etc. Use your imagination and follow your al/commercial assessment has barely budged from 16 coming business. This includes businesses of all sizes. guelphspeaks.ca. He can be reached at heart. For a list of 100 free RAKs, visit per cent of the total property assessment in the city. Two separate outside consultants, hired by the city, gerrybarker76@gmail.com www.guelphcf.ca. Started in 2008 by The Kitchener-Waterloo Community Foundation, Guelph joins Cambridge, Orillia, London, Brantford, Windsor and other comThe Habitat for Humanity Wellington Dufferin Guelph ReStore has renovated! Tune into Roger’s, then drop by and check out the new store, and help support munities on the same day. Imagine, hundreds of The fresh new look includes brand new shelving and organized departments to Habitat’s mission of mobilizing volunteers and community partners to build thousands of kind gestures on one day! Last year in help you to quickly find what you are looking for, with new products being affordable housing and promote homeownership as a means of breaking the Guelph over 120 organizations committed to placed on the floor daily. The ReStore is back into full swing during regular busi- cycle of poverty. The ReStore will provide a tax receipt for the value of product. ‘Pay it Forward’. ness hours–Monday to Friday 9:00 a.m. to 6:00 p.m. and Saturday 9:00 – 5:00. Donation inquires can be directed to Maura Coulter, Procurement Coordinator School kids to seniors, community groups to The Habitat for Humanity ReStore sells new and gently used household items at (519) 767-9752 x37 or maura@habitatwellington.on.ca. corporations–everyone can participate. and building supplies, such as furniture, appliances, cabinetry, windows, hardFor more information about the Guelph ReStore please visit: Plan RAK initiatives for team-building, client appreware, lumber, tools, flooring, lighting and much more. ReStore merchandise is www.habitatwellington.on.ca/restore.html. ciation or employee engagement. (supplied photo) generously donated by individuals, churches, local organizations and businesses, 50,000 Random Act of Kindness Day cards will be where product is sold at 50 to 90 percent below retail value. The ReStore proavailable in our community this year. That’s up from vides an environmentally, and socially responsible way of keeping reusable 25,000 in 2010! They encourage the holder to permaterials out of landfills and is also an e-waste depot. form a simple act of kindness for someone then The Habitat for Humanity ReStore recently worked with Roger’s Cable to prohand over the card to that person, encouraging duce a ReStore It! series airing this September. Join local designers as they create him/her to do the same. DYI home fashion projects using new and used building items and home décor Businesses can get involved by pre-promoting the found at Habitat for Humanity’s ReStore. Learn how to create a unique headday with signage, a poster or by becoming a RAK board, a multi-use doorstep, and a distinctive personalized mirror with simple, Day card pick-up point. Businesses that serve as a step-by-step instructions. card pick-up point will be listed on the RAK Guest designers include Debra Miller, Michelle Patterson, Kerri Lewin, Stefanie web-site, twitter and Facebook. McDonald, Kimberley Rogers and Heather Grummett. Small quantities of cards can be picked up after ReStore it! will air on Roger’s Cable 20, every Tuesday at 8:30pm, Friday at October 7 at all City of Guelph locations, and 9:30am and Sunday at 1pm, in the whole Waterloo Region network–Waterloo, Kate Dennison, ReStore Sales Floor Co-ordinator; Lisa Deano, ReStore Manager; and Maura locations listed at www.guelphcf.ca. Coulter, ReStore Product Procurement Coordinator pose in the newly renovated location. Guelph, Brantford and Stratford. by Gerry Barker
A new look for Habitat for Humanity ReStore
Celebrate Small Business Month
Bridges to Better Business & Small Business STAR Awards
Entrepreneurship as a Way of Life Monday, October 22, 2012 11:00am - 2:30pm
$45.00 (HST included)
Holiday Inn 601 Scottsdale Dr. Guelph, ON Lunch included
Featuring Keynote Speaker Dave Kruse, Guelph Mercury
Knowledge is Power! This unique forum brings together businesses in various stages of development for open exchange of ideas, advice and networking opportunities. Call 519-826-4701 today to register as seats are limited. For more information visit www.guelphbusiness.com Sponsored by
in cooperation with
September 2012 page 6
VENTURE GUELPH PUBLICATIONS LTD. Business Venture 19 years in 2012!
Lifestyles
Health, Arts & Trends
Thumbs-up to another successful Ribfest presented by the Rotary Club of Guelph Trillium. Three days of great weather, food and family fun-all for a good cause. Photo courtesy of Sam Coates of Anderson-Coates Photography
The 27th Annual Poor Boy's Luncheon was once again a tremendous success. It was held at the Italian Canadian Club September 7 and presented by AdvocisTM -Golden Triangle Chapter. Proceeds to Community Living Guelph Wellington. Pictured L to R: Lynn Frost-Arcand, Debb Young, Chris Clark and Bob Butella who made for great servers! (Venture photo)
Experiencing International education first-hand by Vince Baldassarro and Jennifer Gazzola, Wellington Catholic District School Board The Wellington Catholic District School Board values the impact and importance of international education. During the past three years, we have had Korean teachers working in our schools. During the summer, four of our teachers worked in the summer program in Korea. Here is their story. Travelling to South Korea this summer to teach English at an English Summer Camp proved to be an opportunity of a lifetime, full of extraordinary experiences for a group of 14 teachers from three Catholic District School Boards in Ontario including four teachers from Wellington Catholic. As a previously economically struggling nation, Koreans knew that education would make the difference between continuing to struggle, and moving forward and gaining National independence. As a
result, education ranks at the very top of the priority list in Korea. The English Summer Camp was hosted at Hallym University in Chuncheon, South Korea, about 1.5 hours outside of Seoul. In partnership with Peel International Educational Alliance, this camp not only included learning for Korean students, but also offered a teacher training program for Korean teachers. Students had the opportunity to be fully immersed into a hands on, differentiated learning approach, which was all-English language based. It was amazing to see the students learning and discovering in ways they had never experienced before. Noticeable differences could be seen in the progression of their English throughout the course of the three weeks, and each student grew in confidence
during this time. Composed of densely forested mountains, the Korean landscape is harsh but beautiful. Our weekend travels covered the breadth of the peninsula, from the East Sea beach town of Sokcho to the modern metropolis of Seoul. We climbed Mount Seoraksan, rode rail bikes in Samcheok, visited the Seokguram Grotto, Bulguksa Temple, and the UNESCO heritage town of Gyeong-Ju; a schedule interrupted only for enjoying local cuisine at meal times. One of our favourite traditional dishes was Dakgalbi, a potent mixture of chicken, rice cakes, and cabbage cooked on a burner at the center of the table. We also saw the Demilitarized Zone, a chilling reminder of the tension that exists on the Korean peninsula that shows no sign of lessening; the last remnant of the Cold War.
The Korean people were only too thrilled to show us their beautiful country, and were all so friendly and kind. In some cases the language barrier was evident, but the value and beauty of non-verbal communication soon became clear. As we toured the country, met its people, and taught its children, we began to understand how Korea has grown to become an economic power in little more than five decades. Coupled with a can-do attitude and a spirit of perseverance, Koreans value education as the route to prosperity and a bright future.
Lakeside HOPE House–helping overcome poverty everywhere The grand opening of Lakeside HOPE House took place on September 8. Located in the former Norfolk Street United Church, the 28,000 square foot facility will now act as a care centre, providing services to the Guelph community. Under the ministry of Lakeside Church, the HOPE House anticipates offering programs and services such as life skill training, after school programs, pre-natal programs, advocacy services, and meal programs–helping those in need to connect with the right resources that can help them move towards greater independence. For more information visit www.lakesidehopehouse.ca or call 519-265-4299.
Educating for Life
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THANK YOU
GUELPH!!! This year’s RIBFEST was another huge success because of you. Attendance of over 50,000 people over 3 great days of great weather helped raise a significant amount of money to be donated back to our community. Special thanks to our sponsors and our volunteers for their generous support and time spent making RIBFEST “happen” once again. We look forward to seeing you all once again next year!
75 Woolwich St., Guelph, Ontario N1H 6N6 Phone: (519) 821-4600 • Fax: (519) 824-3088 www.wellingtoncdsb.ca
ROTARY CLUB OF GUELPH TRILLIUM
September 2012 page 7
VENTURE GUELPH PUBLICATIONS LTD. Business Venture 19 years in 2012!
Message from Janet Roy, new Chair
Retrospective of Chamber activities
Welcome back to the Guelph Chamber of Commerce 2012-2013 with our focus on advocacy, connections and education. We look forward to assisting all our members in providing opportunities for business development and community involvement through the activities of the Guelph Chamber of Commerce. Your Board of Directors will look to establish joint strategic projects with other organizations to develop sector-specific membership benefits. To name a few of our current community partners; Canadian Chamber of Commerce, Ontario Chamber of Commerce, Innovation Guelph, Career Education Council, Guelph Wellington Business Enterprise Centre, Downtown Guelph Business Association, University of Guelph, Conestoga College and City of Guelph. Our committees Advocacy, Program, Workplace Development & Education, Membership, and Peer Groups: Industrial, Technology, Food and Agriculture, Small Business.
Chair’s Message “My time on the Board,especially this last year as Chair,was an eye opening experience.I got the opportunity to get out in the community and invest time talking with our members and their guests at the various Chamber events.I am truly amazed at the variety of businesses we have in Guelph and the passion our members have for their business and their City.Thank you for allowing me to serve as your Chair and I encourage all of you to get involved in our community.You too may be surprised by the breadth and depth of talent available to make Guelph“THE PLACE”to live and do business in.” –Dan Lawson, Blount Canada, Chamber Chair 2011-2012
We will engage the broader community, non-forprofits and Guelph small to medium businesses in all sectors to promote learning through peers and policy development. We will host focus groups to help maximize connections and foster growth of our members businesses. Come have coffee with the President the first Tuesday of the month at the Guelph Chamber of Commerce office. Attend the Guelph Business Circles the third Wednesday of the month at the Innovation Guelph office. Through the survey in the spring you told us what you needed. Your message is reflected in this year’s events: the breakfast academy, pulse on innovation, lunch and learn, business after five and special events. Review the events, get connected, learn and grow. Your investment, listening and engagement will provide a return on your investment.
Upcoming Events Chamber Pub Night Kelsey's Guelph Chamber Pub Night The Elliott Community Café - October 15, 2012 - September 17, 2012 GCC Breakfast Academy Reputation Management on the Web October 19, 2012
Guelph Business Circles September 19, 2012 GCC Breakfast Academy Dr. Sherry Cooper's Economic Outlook: Global Growth Moderates - September 21, 2012
Business After 5 Skyjack Inc. - October 23, 2012
Innovation Breakfast An Overview of Food & Agriculture in Ontario September 27, 2012
For more information on these and other events please visit www.guelphchamber.com
Annual General Meeting 2012 Guelph Chamber of Commerce:The Next Generation- October 3, 2012
Chamber Relocation to Downtown: -ConnectingtoInnovationGuelph -OpeningChamberBusinessCentre,sharedofficespace with10businesses -Meetingroomsformembers,studentresearchoffice -Otheroffices:NationalResearchCouncil–IRAP,University of Guelph Industrial Committee: -peergroupformatsharingbestpractices -ManufacturingLeadershipCertificationProgram -Applicationsof Leanprograms -Energyandwaterconservation Advocacy Committee: -RegionaltransportationpolicytopromoteHighway7 -Regionalmanufacturingstrategy:Guelph,Cambridge, Kitchener-Waterloo -PromotingresidentialdevelopmentindowntownGuelph -ProvidinginputtoCityof Guelphbudget -Federal,Provincial,MunicipalElectioncandidate discussionforums -Reviewof provincialandnationalpolicydocuments Workplace Development Committee: -Promotionof EssentialSkillsdevelopment:reading, numeracy,documentuse -Jointco-oplanding pagewithschoolboards,University of Guelph,ConestogaCollege -GlobalExperience@Workprogramtointegrateimmigrants intoworkforce -CareerPathwayseventwith1600grade8students attendingcareer fair Program Committee: -50educationalandnetworkingeventswith4200attendees -Breakfastseries: EconomicOutlook,SocialMedia,Marketing to50TopClients -PulseonInnovation -BusinessAfter5 -Golf Tournament,TechnologyEconomy,GuelphAwards of Excellence -WaterConservation,Solar -LunchandLearn -RegionalTradeShow,TableTopTrade Show -GuelphBusinessCirclessupportgroupforsmall business
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Membership and Marketing Committee: -Groupbenefitsprogramfordowntownbusinesses -Revisedmerchantservicesprogram -Increasedconnectionstomembersthrough phoningcommittee -PromotingAdvocacy,Connections,Educationwork withbusinesses -Focusonsmallbusinesssupportprograms -Localmediaprograms -Advertisingformembers:packagesforMovingBusiness Forwardmagazine,website,directory -GuelphConnectbusinessdirectorywithCityof Guelph, Universityof Guelph,GrowGuelph Technology Committee: -GuelphTechnologyEconomyconference -Cloud connectionsforsmallbusiness -Socialmediatools -Onlinelearningopportunities Innovation Guelph: -Sitevisitstopromoteproductivityandcompetitiveness,process andproductdevelopment -IndustrialResearchAssistanceProgramsupportforconnections betweenlocalbusinesses -Connectionstouniversityandcollegeresearch -OntarioCentreof Excellencefundingfor research:$3.2mfor localbusinesses Board of Directors: -AccreditationwithDistinctionbyCanadianChamberof Commerce2012-2013 -Relocationof GuelphChamberof Commerceoffice -Buildingsupportof smallbusinessandnotforprofits -Scorecarddevelopmenttomeasureprogressof Chamber -Boardself-evaluation,strategicplanning Community Involvement: -LeadershipatOntarioChamberof Commerce,Chamber Executivesof Ontario -InnovationGuelph -CareerEducationCouncil -GuelphWellingtonBusinessEnterpriseCentre -DowntownGuelphBusinessAssociation -Universityof Guelph:College of ManagementandEconomics, AIESECStudentExchange -Cityof Guelph:SustainableSolutions,DowntownAdvisory Committee,GuelphConnect,CommunityEnergyInitiative, LocalImmigrationPartnership
The Guelph Chamber of Commerce is approaching its 144th AGM on October 3. We are often asked what a Chamber of Commerce is, and also what we do. Getting involved with the Guelph Chamber of Commerce is really getting involved in he community.At the same time you have a great source of support to grow your business.
What is a Chamber of Commerce? A Chamber of Commerce is a not-for-profit organization, funded through membership dues and revenue from events and affinity programs. Chambers are regulated by the Board of Trade Act. The Guelph Chamber of Commerce is federally incorporated and registered with Industry Canada. The Chambers of Commerce in Canada represent every electoral riding in the country. Chambers exist internationally in most countries around the globe. Guelph was a founding member of the Ontario Chamber of Commerce, as well as the Canadian Chamber of Commerce and continues to be active shaping government policy provincially and federally. Chambers of Commerce and Boards of Trade provide opportunity for active citizenship and community engagement for people from all sizes and types of businesses and organizations acting as “the voice of business” in their community.
Innovation Guelph Innovation Guelph (IG) is one of Ontario’s Regional Innovation Centres (RICs), operating in partnership with MaRS and MEDI. We help innovative enterprises start, grow and thrive by addressing the needs of entrepreneurs, community organizations, researchers and business leaders. We help clients to understand and access funding available through Provincial, Federal, or other sources; provide strategic, expert business advice; and organize and host events focused on business training, networking, and community initiatives. In Jan of 2012, IG moved to its new location at 111 Farquhar St. in Guelph. The new facility houses all of IG’s client services; a business incubator; as well as an exciting public event space, available to book at a special rate! Great place to come visit and hang out with your business partners, to work, or mingle with the IG Team. Our client focus is shaped by the character of our local industry sectors: Clean Tech; Health and Wellness; Social Entrepreneurship; Creative and Digital Media; and Advance Manufacturing. Since opening its doors, IG has mentored over 200 companies. In FY 2011/12, IG assisted client companies in accessing $3.2M of funding from provincial, federal, and private sources; assisted with the creation of at least 41 new jobs for our client companies and held 29 educational and networking events that engaged over 1000 individuals.
Upcoming CMA Information Sessions Guelph Chamber of Commerce April 20, 10:00 am – 11:00 am May 18, 10:00 am – 11:00 am June 18, 3:30 pm – 4:30 pm To register, please visit http://forms.cma-ontario.org/infosessions/ To learn more about the CMA designation contact: Dana Gies, MBA, CMA at dgies@cmaontario.org or visit www.becomeacma.com.
512 Woolwich St Guelph ON 519 824 5410 www.bdo.ca
T 519.822.4680 F 519.822.1583
Strategic Plan developed by the Board of Directors includes five key focus areas: 1) Sector Focus: support all sectors of Guelph’s business community, for all sizes and types of business. Particular focus on small business and not for profits 2) Share Best Practices: benchmark key performance areas against other Chambers of Commerce and businesses 3) Set the Standard: be a model of how to do business in Guelph 4) Maximize member value: Optimize programs to provide the best in value to contribute to the success of Guelph businesses 5) Financial Responsibility: continue to grow revenue through expansion programs aimed at cost control or benefits to small business.
Bensol Consulting Inc. Attracting the best and the brightest employees that will stay with your business is a common challenge. A competitive wage plays an important role, but it’s not the only way to entice experienced people away from larger firms. An employee benefit plan can foster an environment of stability and growth for your existing employees and tomorrow’s rising stars. By investing in a Group Insurance plan for your employees you can: strengthen your skill and knowledge base by attracting and retaining good people; lower employee turnover and avoid the costs of hiring and retraining new employees; and, improve morale and increase productivity by providing financial security and support. The Chambers of Commerce Group Insurance plan was introduced over 40 years ago to specifically address the needs of small business, and now provides coverage to over 29,000 firms just like yours. The plan offers comprehensive group benefits plans–even if you’re the only employee. There are no industry restrictions and all for-profit and most non-profit organizations are eligible to participate as long as they are members of the Guelph Chamber of Commerce. The Chambers Plan has a history of rate stability.The plan pools your claims with other participants. In a pooled plan, premiums are based on the average of claims across all participants. When your claims are bundled together with thousands of similar firms in a pool, costs stay manageable and predictable. Successful entrepreneurs understand the value of keeping employees happy and productive. A well designed benefit plan is an effective tool to help build loyalty and reward top performers. The Chambers of Commerce Group Insurance Plan offers business owners with a solution that is cost effective and manageable. Michele Mactaggart, CHS Bensol Consulting Inc. michele@bensolconsulting.com
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© 2012 Certified Management Accountants of Ontario. All rights reserved. ®/™ Registered Trade-Marks/Trade-Marks are owned by The Society of Management Accountants of Canada. Used under license.
ǣ ͕-͜͜͜-͗͜͜-͕͗͗͗ September 2012 page 9 VENTURE GUELPH PUBLICATIONS LTD. Business Venture 19 years in 2012!
Employment insurance and your business Provided by CFIB
Guelph City Mazda recently celebrated the grand re-opening of their Image Facility on Woodlawn Road. A new look for the dealership, the newly renovated space adds 4,000 square feet to the facility; completed by CRD Construction. The open house, which coincided with the 25th anniversary of the dealership, welcomed 165 invited guests including the President and Vice-President of Mazda Canada Inc., local dignitaries and city officials. Pictured are from left to right: Mohsen Kharian, Vice President, Guelph Mazda; Shusuke (Kory) Koreeda, President, Mazda Canada; Frank L. Spencer, President, Guelph Mazda; David Klan, Senior Director, Sales, Marketing & Regional Operations, Mazda Canada. (Photo by Natasha Persaud, Venture Guelph Publications Ltd.)
Healthy messages in YOUR workplace Seasonal Influenza will soon be upon us. The workplace can be a great venue whereby simple and frequent communication can occur. By posting signage or utilizing digital signage in your workplace you can remind everyone of the importance of hand washing, and cough etiquette. By doing so, the level of awareness regarding the importance of decreasing the spread of human pathogens becomes increased. In addition to motivating employees to make healthier lifestyle choices, if everyone does their part to help lower the spread of germs, the workplace setting can remain as healthy and productive as possible. This will also help to lower absenteeism and health care costs. It has never been more important to promote wellness in the workplace than today. Influenza is a major cause of employee absenteeism, replacement, or overtime costs in Ontario. Influenza CAN be prevented through
by Anna Bartolomucci
vaccination. Workplace seasonal flu vaccination programs, even in smaller workplaces are a current best practice. WellServe Health Care Management’s professional nursing staff will come to your site and vaccinate your entire staff against the flu. Flu shots decrease upper respiratory illness (URI) by 25%, days of sick leave due to URI by 43%, absenteeism by 36% and visits to a physician by 44% (Nichol). Total cost savings due to lower rates of illness and sick leave average $60.00 (Canadian) per employee (Buffet Taylor). Send “Healthy Messages in YOUR Workplace� or book your workplace on-site flu clinic, today. Anna Bartolomucci RN, WellServe Health Care Management, 519-837-3896 Ext 17, anna.bartolomucci@wellserve.on.ca
WellServe offers WellServe off ffe ers a full full suite suite of services services ranging ranging from from Medical Medical Assessment, Assessment, Treatment Treatment and C Case ase M Management, anag gement, tto o Prevention Compliance. Our become moree efficient profitable P revention and C om mpliance. O ur services services help corporate corporate clients clients bec ome m mor efficient and pr ofitablle through through improved productivity. impr oved employee employee health, attendance attendance and p roductivity. With over three decades multi-sector Occupational Health Medicine, WellServe earned W ith o ver thr ee dec cades of multi-sec tor eexperience xperienc i e in O ccupational Healt th and M edicine, W ellServe has ear ned the and individuals that have trust of the many many companies companies o that ha ve been served. served.
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Recently, the federal government announced proposed changes to Employment Insurance (EI). Canadian Federation of Independent Business (CFIB) has released an overview of the proposed changes: There are no changes to benefits or to the Seasonal Agricultural Worker Program. Changes do not impact workers receiving EI special benefits for maternity, parental, compassionate, and sick leave. Three categories of claimants have been created. • Long-tenured workers: Workers who have paid into the EI system for at least seven out of the past 10 years and who have collected regular or fishing EI benefits for 35 weeks or less over the last 5 years. • Frequent claimants: Workers with three or more EI claims and who have collected regular or fishing EI benefits for more than 60 weeks in the past five years. • Occasional claimants: Workers who don’t fall into the other two categories. A new definition for a“reasonable job searchâ€? • Completing job search activities (i.e. preparing resumes, applying for positions, attending interviews). • Recipients of EI will be required to look for work every day they receive benefits (includes identifying opportunities, as well as applying for work). • Evidence of job search efforts. • Type of work sought must meet criteria of “suitable employmentâ€?. A new definition for“suitable employmentâ€? • Personal circumstances: An EI claimant would not have to accept work if they have a health problem, family obligations that prevent them from working, lack of transportation, or are not physically capable of performing the work. • Acceptable working conditions: The position offered must not be vacant due to a strike, lockout or other labour dispute. • All hours of work including part-time will be deemed suitable for employment. • Commuting time: Work must be within a one-hour commute, may be deemed higher based on workers’ previous commuting history and the community’s average commuting time. • Other factors like wages and type of work can also be taken into consideration. How claimants will be affected: Week 1 to 6 Frequent Claimants: Expected to search for and accept “similarâ€? work at a wage not less than 80% of previous pay. Occasional Claimants: Expected to search for
and accept jobs in their usual occupation, at a wage not less than 90% of previous pay. Long-tenured Workers: Expected to search for and accept jobs in their usual occupation, at a wage not less than 90% of previous pay. Week 7 to 18 Frequent Claimants: Expected to search for and accept work they are qualified for, at a wage not less than 70% of previous pay. Occasional Claimants: Expected to search for and accept “similar� work at a wage not less than 80% of previous pay. Long-tenured Workers: Expected to search for and accept jobs in their usual occupation, at a wage not less than 90% of previous pay. Week 18+ Frequent Claimants: Expected to search for and accept work they are qualified for, at a wage not less than 70% of previous pay. Occasional Claimants: Expected to search for and accept any work they are qualified for, at a wage not less than 70% of previous pay. Long-tenured Workers: Expected to search for and accept “similar� work, at a wage not less than 80% of previous pay. CFIB supports efforts to address the growing skills and labour shortage. EI claimants must be encouraged to look for work because members in all sectors and all communities across the country have reported how bad the shortage of labour problem has become. CFIB does not expect changes to have a significant effect. EI case workers use exceptions and judgment in each case, and have the ability to allow claimants to stay on EI rather than go back to work. Once changes are in place, it will be clearer if they are hurting or helping businesses. CFIB is aware of the concerns of seasonal businesses. Many seasonal businesses worry workers will go to a year-round operation and not come back. CFIB strongly believes changes must make it easier–not more difficult--for all businesses to find and keep workers. Legal Notice: The contents of this publication are for informational purposes and the CFIB does not warrant the accuracy, currency or suitability of any of the information provided herein. Before acting on the basis of any information contained in this publication, please seek the advice of your professional advisors.
WOOLWICH STREET, GUELPH ON N1H 3X7 TEL.: 837-3111
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VENTURE GUELPH PUBLICATIONS LTD. Business Venture 19 years in 2012!
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Healthy cash flow strategies for your small business by Tony Roy You’ve probably heard the saying, “cash is king,”–and truly, a healthy Cashflow is a vital part of any successful business. Net income doesn’t pay the bills and neither do the assets or equity in your business. Only cash pays the bills. Without a doubt, proper Cashflow management in your business is critical to its growth and longevity. Understanding basic Cashflow principles is the first step in effectively managing your Cashflow. Cashflow is more than just a fancy term. In its simplest form, it is the movement of money in and out of your business. It can be described as the process in which your business uses cash to generate goods or services for sale to your customers, then collects that cash from each sale and completes the cycle all over again. Let’s look at each flow of cash: Inflows: Inflows are the movement of money into your cashflow. Inflows most likely come from the sale of your goods or services to your customers. If you extend credit to your customers and allow them to charge the sale of the goods or services to their account, then an inflow occurs as you collect on the customer’s account. The proceeds from a bank loan, money received from investors or sale of assets are also cash inflows. Outflows: Outflows are the movement of money out of your business. Outflows are generally the result of paying expenses. If your business involves reselling goods, then your largest outflow is most likely the purchase of inventory. A manufacturing company’s largest outflows are usually the purchases of raw materials and other components, including labour costs, needed for the production of their final product. Purchasing fixed assets, paying down debt and reducing accounts payable are also cash outflows. Accounts Receivable and Cashflow Accounts: Receivables represent sales that have not yet been collected as cash. You sell your merchandise or services in exchange for a customer's promise to pay you at a certain time in the future. If your business normally extends credit to your customers, then the payment of accounts receivable is likely the single most important source of cash inflow. In the worst case scenario, unpaid accounts receivable will leave your business without
the necessary cash to pay its own bills. More commonly, late or slow-paying customers will create cash shortages, leaving your business without the cash necessary to cover its own cash outflow obligations. Knowing your DSO’s (Days Sales Outstanding) can provide great insight into your accounts receivable position. You calculate DSO by dividing outstanding receivables by the total dollars of annual sales and multiply by 365 to give you the average number of days it takes for you to collect on outstanding receivables. If you grant 30 day terms this number should be between 30 and 40. In addition, you should print a weekly Accounts Receivable aging schedule and ensure frequent and appropriate contact is made to collect the money owed to you. Remember–squeaky wheel gets the grease. Ensure that you keep up-to-date on your collection calls. Statement of Cashflow: Every business owner should also have a Statement of Cashflow for their business prepared at least monthly, along with their Income Statement and Balance Sheet. The Statement of Cashflow reports Cashflow generated over a period of time in each of the three key activities of a business: investing, operating and financing activities. While each financial statement provides unique information of use for analysis and decision-making, the Statement of Cashflow provides particular insight into that most vital commodity–cash. It is very important that your business have a positive Cash from Operations number. Every business owner should develop a good understanding of basic Cashflow principles and then analyze the various areas that affect the timing of cash inflows and outflows in your business. A good analysis of these components will point out problem areas that lead to Cashflow gaps in your organization. With this information, you can develop a Cashflow plan to help you foresee the needs of capital, along with identifying potential sources of operating capital that can help you fund the ongoing activities and needs of your business. Tony Roy is a Certified Business Coach for ActionCOACH. He can be contacted at 519-729-0033 or tonyroy@actioncoach.com
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Gay Lea Foods awarded $72,433 in incentives for energy-efficient lighting retrofits submitted by Guelph Hydro Electric Systems Inc.
Gay Lea Foods, one of Canada’s top dairy producers, has been awarded $72,433 in incentives for energy-efficient retrofits made to its two Guelph milk facilities. Founded in 1958, Gay Lea is a dairy co-operative owned by more than 1,200 farmers. It has six production facilities located across Ontario, in Toronto, Madoc, Mississauga, Guelph, and Teeswater. In Guelph, the two plants on Speedvale Road are responsible for 33 percent of Gay Lea’s total production and operate 24 hours a day, seven days a week. The original and oldest plant produces butter, spreadables and aerosol- whipped cream. The newest plant is a 60,000 square foot, state-of-the-art, milk powder facility commissioned in 2003. It was built using international standards and features both in construction and technology while boasting a six-story high evaporator and the biggest dryer in North America. The plant produces 3,600 kilograms of skim milk powder per hour, operating 20 hours a day, and was the first plant to dry milk using a combination of gas, energy-efficient Mechanical Vapour Recompression (MVR) and steam heating (Thermal Vapour Recompression TVR). The facility’s electricity demand is around 2.5 MW. In 2012, inspired by energy and cost savings being actualized in Europe, Gay Lea began taking a closer look at the energy efficiency of its plants and was pleased to learn that in Ontario there was support from the Ontario Power Authority (OPA) and Guelph Hydro. Zbigniew Ewertowski, Director of Corporate Engineering at Gay Lea began investigating savings opportunities and found that due to incentives offered under the OPA’s saveONenergy RETROFIT PROGRAMOM; lighting offered the best opportunity to improve efficiency because not only did the incentives cover the cost of lighting upgrades, there were additional energy and production savings realized in the reduction of residual heat produced by lights in the cold storage warehouses. Gay Lea went to work and replaced all T12 lighting with
T8s in the office, replaced metal halides with T5s, and added motion sensors in their plants for an additional savings of 20 percent. In total, Gay Lea received $72,433 in incentives through the RETROFIT PROGRAM and reduced their energy consumption by more than 468,000 kWh. “Energy efficiency gives us a competitive advantage,” says Zbigniew. “Our members are on board and really supportive of the work we are doing.” Gay Lea is now in the process of establishing a baseline so they can track and evaluate further savings opportunities. Since 2007, Guelph Hydro Electric Systems Inc. has provided more than $1.3 million in OPA incentives for retrofit projects to businesses in Guelph. The RETROFIT PROGRAM is offered through local electricity distribution companies like Guelph Hydro and funded by the Ontario Power Authority, providing businesses with substantial financial incentives for replacing existing equipment with high-efficiency equipment and for installing new control systems that will improve the efficiency of operational procedures and processes. Local businesses interested in conducting their own retrofit project are encouraged to contact Guelph Hydro for direction on how to proceed. For more information about the RETROFIT PROGRAM, visit www.guelphhydro.saveonenergy.ca or contact Mark Britton at Guelph Hydro Electric Systems Inc. at 519-822-1750 (ext. 2240) or via email at mbritton@guelphhydro.com. Funded by Ontario Power Authority and offered by Guelph Hydro Electric Systems Inc. Subject to additional terms and conditions found at saveonenergy.ca. Subject to change without notice. OM Official mark of the Ontario Power Authority. Used under licence.
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Credit Unions–continued from page 3
Access to defibrillators can increase survival from a sudden heart attack by 75% As part of its commitment to community wellbeing, Guelph Hydro Electric Systems Inc. has installed Automated External Defibrillators (AEDs) on four bucket trucks and five other vehicles in its fleet. This is in addition to three units located in the company’s head office. All Guelph Hydro crews as well as some office staff have received first aid, cardiopulmonary resuscitation (CPR) and AED training to prepare them to respond to emergencies on the job site, in the office or in the community at large. “Just like with a heart attack, accidental contact with electrical lines can result in sudden cardiac arrest,” notes Roy Burch, Manager of Loss Prevention & Environmental Compliance for Guelph Hydro Electric Systems Inc.“While CPR can buy a victim some time by delivering oxygen to the brain, survival is unlikely unless defibrillation is performed quickly–within five minutes. When an AED is immediately available, the chance of survival from sudden cardiac arrest can increase by 75% or more over CPR on its own. So deploying AEDs on our vehicles clearly makes good sense–for our employees as well as members of the public who may suffer a sudden heart attack and need help before emergency personnel arrive on scene.” An AED is a machine that can monitor heart rhythms. It can tell if the heart has
stopped beating effectively. If required, the machine can then deliver an electric shock to the heart. Most of the time, this shock will restart the heart. Until recently, only medical and paramedical staff used AEDs. However, the advent of safe and easy-to-use AEDs that provide the user with step-bystep instructions now makes it possible to extend the use of AEDs to people with little or no medical background. “A cardiac arrest can happen at any time, anywhere,” notes Burch. “Our crews are constantly out in the community maintaining, upgrading and repairing the electricity network–oftentimes during the worst weather conditions. They are trained to call 9-1-1 in an emergency. However, if they are ever faced with a crisis situation involving a case of sudden cardiac arrest, our crews may be able to offer valuable assistance in the first few critical minutes before emergency medical help can arrive.” About Guelph Hydro Electric Systems Inc. Guelph Hydro Electric Systems Inc. delivers a safe and reliable supply of electricity to approximately 50,000 residential, commercial and industrial customers in Guelph and Rockwood. The company is owned by Guelph Hydro Inc. which was named Large Company of the Year by the Ontario Energy Association in 2011 and awarded the Environmental Stewardship award by the Guelph Chamber of Commerce in 2012. The company is actively developing sustainable energy projects as a key implementer of the City of Guelph’s internationally renowned Community Energy Initiative. For more information, visit: www.guelphhydro.com.
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Awareness of the proposal was highest among credit union members in Quebec, but lowest nationwide among those over 55, generally the larger segment of the credit union population. When asked their level of agreement with the proposal, reaction across Canada was mostly positive or neutral with only a small proportion expressing disagreement. There were
Pros and Cons When probed as to the pros and cons of the proposal, survey respondents said they see the key benefit to be “improved access” when travelling or moving residences interprovincially. There was also a segment who felt that this legislation would allow credit unions to be more competitive with banks, bringing with it a wider range of products and services. A minority of credit union members expressed concerns centered on the potential loss of uniqueness–turning credit unions into “just another bank”–and the possibility of diminished “community spirit/involvement.” These issues are central to credit union membership and an integral component of credit union culture. Convincing members about the benefits of the proposal could be critical to credit union’s future ability to expand their membership through word of mouth. Credit union members who favor the proposal were significantly more likely than opponents to say they’d recommend their credit union to family and friends. “Should this proposed legislation convert to law, credit unions will need to keep their finger on the pulse of their membership to monitor reaction and provide reassurance as necessary,” says Derek Bildfell, Corsential CEO.
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“If credit unions wish to build support for what could be a historic step for their industry, they must do a better job in informing and educating their members about the details and potential benefits of the proposal, and addressing concerns about how such a change would alter the credit union experience for members,” says Marlene Kohn, Vice President, Business Development at Corsential.
some subtle geographic differences with the East, particularly Quebec, showing stronger support than the West.
TH E
support the move. From July 13th to July 24th Corsential surveyed 1000 credit union members, asking them to comment on their awareness of the plan and their reactions to the proposal. Just over 50% of respondents would support the new regulations although 32% were neutral to the idea. Over half were initially unaware of the proposal all together.
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Business to Business Horseracing Industry–continued from page 1 “We were blessed with the slot program. The partnership between the Agriculture Society, OLG and the community positively impacted an industry that was endangered, ”adds the Mayor. “However, ending the slot program is a huge betrayal–gaming was not an easy sell to the community of Elora in the first place. OLG, the community, and Grand River Raceway worked hard to bring it here and make it a successful addition to the County. Everyone worked well as partners and now one of the partners is pulling out from this good investment. With the loss of this partnership and the revenue from it, if Grand River closes, there will no longer be a market for the equine industry. Support for this successful model is something that could have been taken across the province and been a win-win for everyone. Instead we have been dealt a huge blow.”
If Grand River closes, there will be a significant impact to the spin-off industry within the local economy.“There are a number of horse training centres within Wellington County that were built over the last few years, because of the slot program, to support the horseracing industry here at Grand River,” continues Clarke. The General Manager mentioned four centres of the top that all employ a minimum of 20 employees, training over 70 horses. Additionally a large number of related industries would be impacted including local blacksmiths, tack shops, trailer and farm equipment dealers, and even automotive dealerships. In total, well over 20,000 people across Wellington County are closely involved in the equine industry through various businesses. The closing of Ontario racetracks and the decline in horse wagering is also impacting students at Guelph’s Ontario Veterinary College, where approximately 10 to 15% of the students are equine specialists. As well, the Ontario Racing Commission funds research through Equine Guelph from a portion of their income, which comes from horse wagering. Grand River is one of the smaller tracks in Ontario with 65 race days per year. However, when it comes to horse wagering revenue–Grand River ranks higher than some of the other sites on a per day basis at fifth or sixth in the province. There are fewer slot machines at Grand River The Ontario employment figures for the horseracing than many other locations throughout the industry as shown by the transitional panel, totals province, which makes them eleventh or twelfth 30,000 full-time equivalent positions. However, overall in total slot revenue production. However, with the large number of part-time and seasonal on a per machine basis, in 2011 Grand River proworkers in the racetrack industry, the closing of duced the third most revenue per racetracks and slots would affect closer to 60,000 machine–which shows there are not enough people across the province. machines to make the maximum use of the customer base. The 10-year capital plan for the Township of A great deal of the operating costs such as snow Centre Wellington is temporarily on hold.“We plowing of parking lots, cleaning, and building have to re-vamp the plan and look into what we maintenance are generated because of the slots. can afford to do without the revenue from the Taking that into consideration, 50% to 60% of slots,” says the Mayor.“What is more important the operating costs at Grand River are being covthan the projects that will have to be on hold, are ered by the slot revenue. the lives that will be destroyed if Grand River “The slot revenue has made it easier to vigorRacetrack has to close. So many people in our ously promote the live events. It is a challenge to community earn a living from this industry. Far get people to any type of entertainment venue more than just the horse racers, there are the these days--horseracing is no different. It has been businesses that supply and service equipment, a mutually beneficial relationship, slots and racevehicle and trailer dealers, and fencing and feed tracks; between 15% to 20% more patrons enter suppliers. Many of these businesses will loose the slot floor on a live race day,” states Clarke. huge contracts.” It was announced by the CEO of OLG that if a Millions have been invested to build the profit casino could be built in Kitchener Waterloo then generating equine industry. In fact the Ministry of they would close the slots at Grand River. Agriculture borrowed $20 million to re-launch “We’re a long way away from discussing a casithe industry. Locally, the Ministry and the comno in Kitchener, there is no approval for that at munity worked to enhance the equine industry this point. Plus, it doesn’t mean we wouldn’t conby assisting with the upgrade of barns, and tinue to have racing, or host other functions,” money was invested into training. adds the General Manager.“Whether the slot “Slots had a great deal to do with creating new floor continues to house slots remains to be seen. excitement to horseracing, at least to this area and There is no final deadline yet for the slots to be at this facility,” says Dr. Ted Clarke, General removed from Grand River. There is a change Manager for Grand River Raceway.“We would though of how the money will flow after March not have built Grand River without the slot rev2013.” enue. We were able to build a comfortable and Grand River would consider bidding to keep attractive facility to race at. We were able to build the slots, however it has been proposed by OLG a track that is significantly easier to race on that that a licensed gaming operator provider should the one we had in Elmira.” be the entity applying to manage the slot site, “Grand River is a location which has re-invest- which Grand River is not. ed. The local Agriculture Society has a good relaThe government has committed $50 million tionship with the horse people--that is not the over the next three years to transition the case at many of the tracks,” states Sandals.“In horseracing venues.“It is possible to survive with many cases nothing has been done to upgrade, just the horseracing depending on what the tranmaintain, or market the facility or tracks. Some sitional panel comes up with as a plan to move tracks have also cut down on their number of forward,” says Clarke. race days. There should have been appropriate guidelines in place to address these details.” September 2012 page 13
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Join Small Business Saturday–shop small and make a big difference Canadian small businesses are crucial to Canada’s economic success. They are responsible for creating millions of jobs across the country. Small business entrepreneurs are powering our economy through innovation, job creation and new, exciting ideas. Canada would not be the same without our small business owners. • Small businesses are responsible for 42% of Canada’s private sector GDP; • Approximately 5 million Canadians are employed by small businesses, which is 48% of Canada’s private sector labour force; • Between 2001-2010, over 47% of new jobs were created by small businesses in Canada. Saturday October 20 is Canada’s first Small Business Saturday, launched by Canadian Federation of Independent Business (CFIB) in partnership with Interac. Across the country, participating small businesses can raise awareness of their business to consumers by first registering their business and by submitting an optional deal to entice consumers to visit them on Small Business Saturday. Each business will be published on the website. It is completely free to participate. Consumers can sign up to receive updates about local deals and offers from participating small businesses, right in their own neighbourhoods. VENTURE GUELPH PUBLICATIONS Ltd. 2 Quebec St, Suite 232 Guelph ON N1H 2T3 E: venture@golden.net www.ventureguelph.ca –Digital issues on the website–
Working together, we can create awareness for the important role small businesses play and provide small business owners with opportunities to help them flourish so that their businesses continue to thrive and grow within our communities. Small businesses are the heart of Canadian communities. They create vibrant cities, beautiful storefronts and promote a family-friendly living environment. Shopping at a small business is a special experience–you cannot get it at a big-box store. Many products are unique and impossible to find anywhere else. Small business owners are reputable and know their products intimately. They are often family-run, handed down from generation to generation. When you buy from a small business, you support local families and local jobs. On October 20, support Canada's Small Business Saturday, because if we all shop small, it can make a big difference. Find out more about Small Business Saturday and how you can participate at www.shopsmallbiz.ca With the strength of over 109,000 small business owners from across Canada, CFIB is the big voice for small business, representing their interests to all levels of government. Interac is Canada's only domestically run, coast-to-coast debit payment network.
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U of G sets World Record, helps fight global hunger
Local businesses recently gathered together for the Annual Chamber of Commerce Golf Tournament. Pictured above are from left to right: Paul Demarco, Intrigue Media; Carly O'Brien, The Achievement Centre; Gia Lucchetta, Royal LePage; Marva Wisdom, Wisdom Consulting; and Adrian Trochta, Kamil Juices. (Photo by Natasha Persaud, Venture Guelph Publications Ltd.)
Penny circulation to cease February 2013 The Royal Canadian Mint is officially ceasing production of new pennies and will no longer circulate pennies as of February 4, 2013. In Economic Action Plan 2012, the Harper Government announced it was eliminating the penny from Canada’s coinage system. The Harper Government is eliminating the penny due to its excessive and rising cost of production relative to face value, the increased accumulation of pennies by Canadians in their households, environmental considerations, and the significant handling costs the penny imposes on retailers, financial institutions and the economy in general. The estimated savings for taxpayers from eliminating the penny is $11 million a year. The cent will remain Canada's smallest unit for pricing goods and services, and consumers can use pennies in cash transactions indefinitely. However, when pennies are not available, cash transactions should be rounded to the nearest five-cent increment in a fair and transparent manner. Businesses should not round the prices of individual items. Rounding should only be used on the final bill of sale after the calculation of Harmonized Sales Tax (HST). Noncash payments such as cheques, credit and debit cards will continue to be settled to the cent. The calculation of the HST on purchases, whether for cash or non-cash transactions, will continue to be calculated to the penny and added to the price. It is only the total cash payment for the transaction that will be rounded. Amounts ending in 1 cent and 2 cents are rounded down to the nearest 10 cents;
amounts ending in 3 cents and 4 cents are rounded up to the nearest 5 cents; amounts ending in 6 cents and 7 cents are rounded down to the nearest 5 cents; amounts ending in 8 cents and 9 cents are rounded up to the nearest 10 cents; amounts ending in 0 cent and 5 cents remain unchanged. Businesses will not need to update cash registers for rounding, as prices and the final total payment will still be set at one-cent increments. While businesses do not have a legal obligation to accept any particular Canadian coins or bank notes in a retail transaction, the penny will continue to be legal tender and businesses are encouraged to continue to accept the coin as a means of payment. Businesses will be able to redeem pennies with their financial institutions. “Setting a clear transition date will allow consumers, businesses, charities and financial institutions to plan accordingly in the lead-up to February,” said Minister Flaherty. “We want to thank all Canadians for sharing their views with us, especially as it relates to this transition.” The revised date was set following initial consultations with small business and retailers who requested the transition date occur after the busy holiday shopping season. This will ensure all those participating in the transition will have ample time to prepare their business, train staff, and better inform consumers. It will also allow charities to hold dedicated ‘penny drive’ campaigns outside of existing fall fundraising drives. ventureguelph.ca
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The food will be shipped to the West African country of Mauritania, which has been affected by severe drought and is one of the poorest countries in the world. Food for all of the events is made possible by the support of Kinross Gold Corp. Kinross has several ongoing corporate social responsibility efforts in Mauritania. ONEXONE, a Canadian charity, was also at the event to raise funds for its hunger alleviation programs in aboriginal communities. “More than 25,000 people die each day from hunger–more than tuberculosis, malaria and AIDS combined,” said Armstrong, who has worked to battle global hunger for six years. Armstrong led last year’s inaugural world record challenge at Guelph, which helped send 159,840 famine relief meals to schoolchildren in Haiti. He also helped bring the Universities Fighting World Hunger Summit to U of G in 2011–the first time the event was held in Canada–and became the first Canadian recipient of the President William Jefferson Clinton Hunger Leadership Award. Now his goal is to involve other universities in packing one million meals by the end of 2013.
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About 2,000 members of the University of Guelph and greater Guelph community recently set a world record, packaging more than 315,000 emergency relief meals in one hour. "That's 115,000 meals over our goal," Gavin Armstrong, a biomedical science PhD student who organized the event, told the crowd. “By being here today, you’ve made a significant difference in the lives of hundreds of thousands of people.” The event–part of the University’s Better Planet Project–attracted people of all ages. It was the first in a series of activities Armstrong has planned to help raise awareness and engage students to deal with emergency relief and hunger in a permanent and lasting way. Scores of people gathered in the University’s new Field House at and formed “assembly lines” to measure and package the meals. Each meal included five ingredients–rice, soy, vegetables, beans and a vitamin packet–that were sealed in a plastic bag with the University’s BetterPlanet Project logo and cooking instructions printed on the outside. “It's amazing what an impact you can have in other people’s lives by working together for just one hour," said Armstrong.
business to business | homes and lifestyles 2012–The opinions and stories that appear in the columns of Business Venture are for information purposes only. Statements and opinions within the pages of Business Venture are those of the writers and do not necessarily represent those of the publisher, advertisers or Venture Guelph Publications Ltd.
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VENTURE GUELPH PUBLICATIONS LTD. Business Venture 19 years in 2012!
Install Energy-Efficient Measures and Receive up to 50% of Your Project Costs RETROFIT PROGRAM Program benefits include: • Decreased operating and maintenance costs • Lowered energy consumption and costs • Reduced payback periods Incentives for: • Lighting and controls • Unitary air conditioning • Synch belt • Variable frequency drives • Agribusiness • Alternative energy measures • Motors • Pumps • Fans • Refrigeration, and more … What incentives are available? • $400/kW for Lighting • $800/kW for Non-lighting
For many business owners, capital costs prove to be the primary barrier to investing and participating in a retrofit project. The RETROFIT PROGRAM’S incentives tackle this barrier head on, making it possible for you to install and benefit from newer, more energy-efficient technologies. Participate and save The RETROFIT program provides substantial financial incentives for replacing inefficient existing equipment with high efficiency equipment and for installing new control systems that will improve the efficiency of your operational procedures and processes. Start saving sooner Getting your project underway without delay is our priority. We’ll work with you to make a quick pre-approval process so your project can move ahead as soon as possible. Whether your project is PRESCRIPTIVE, ENGINEERED or CUSTOM, you’ll find plenty of available incentives.
Lighting projects The greater of either: $400/kW of demand savings or $0.05/kWh of first year electricity savings to a maximum of 50% of project costs. Non-lighting projects, including lighting controls The greater of either: $800/kW of demand savings or $0.10/kWh of first year electricity savings to a maximum of 50% of project costs. Who is eligible? Owners or tenants of commercial, institutional, industrial, agricultural and multi-residential facilities, including social housing. To take part, your project must be worth a minimum PRESCRIPTIVE incentive of $100 to apply. For the ENGINEERED or CUSTOM measures, your project must have an estimated demand reduction of 1 kW and/or first-year annual savings of 2,000 kWh. If you are unsure of your eligibility contact your local electric utility.
Contact us today: Visit guelphhydro.saveonenergy.ca for more information, perspectives from experts and clients, or to apply online.
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Tel: 519-822-3017 Fax: 519-822-0960 Email: info@guelphhydro.com Subject to additional terms and conditions found at saveonenergy.ca. Subject to change without notice. Funded by the Ontario Power Authority and offered by Guelph Hydro Electric Systems Inc. A mark of the Province of Ontario protected under Canadian trademark law. Used under sublicence. OMOfficial Mark of the Ontario Power Authority. Used under licence. September 2012 page 16
VENTURE GUELPH PUBLICATIONS LTD. Business Venture 19 years in 2012!