Fly on your schedule. We are proud to offer the best in quality, safety and security. No waits, no lineups, no hassles. Call us today, and make us your own private airline.
7
hours days
604.272.8123 1.877.399.8123 londonair.com
“A region’s economy cannot thrive unless its people, goods and resources can be transported safely and efficiently.” Board of Trade CEO Iain Black, pg. 4
THIS ISSUE The importance of financial literacy · 3 Message from the President and CEO· 4 Board submits views on PRPP legislation · 5 Trucking and the Gateway Initiative · 5 Canada joins TPP trade negotiations · 6 Dissecting the debate on shark fin soup · 8 Value investment or value trap?· 10 Why serving is the new selling · 11 Time-saving tools to help you stay on track· 13 The business case for web analytics · 15 Coast Capital Savings donates $1M to UBC · 16 BCIT honours its outstanding alumni · 17
@boardoftrade /VancouverBoardofTrade
boardoftrade.com
./6%-"%2 s 6/,5-% s .5-"%2
Giving business a strong voice in B.C. Board of Trade makes pre-budget recommendations to the provincial government BY KEN MARTIN
The Vancouver Board of Trade is speaking up for British Columbia’s business community, ensuring small and large businesses across the province have a voice in the 2013-2014 provincial budget consultations. Last month, our organization made a number of pre-budget recommendations to the Government of British Columbia, on behalf of our thousands of members. In a letter to the Select Standing Committee on Finance and Government Services, we outlined our recommendations based on four key priorities: debt reduction, spending restraint, tax competitiveness, and economic vision. Those recommendations were developed by The Board of Trade’s Government Budget and Finance Committee, and were shaped in large part by the Bank of Canada’s July Monetary Policy Report. In particular, that report noted that U.S. economic growth remains slow, that most countries in Europe are in a recession, and that the previously seen rapid growth rates in China and other major emerging countries are slowing due to policy tightening and weaker demand for exports. The Vancouver Board of Trade sees unique opportunities for Canada and, more spe-
cifically, for Western Canada, if our priorities are aligned with the factors that best support our vibrant business community. In these uncertain economic times, we see Canada as a country of choice, particularly given Western Canada’s strong resource sector, our perfect geographic location, and our resilient financial system. However, we need to do everything we can to ensure our province remains fiscally resilient, economically competitive, socially responsible, and environmentally attractive. With that in mind, The Vancouver Board of Trade is urging the provincial government to take action and reduce its overall debt load. Our organization is concerned that the updated fiscal plan deficit is $1.1 billion, and that the taxpayer-supported debt-to-GDP ratio is forecast to hit 18.3 per cent by 2014-2015. Given that reality, we believe the government must resist the temptation to increase program spending, and that revenues must be allocated to debt reduction, instead. Our second recommendation is for the provincial government to exercise spending restraint. The Vancouver Board of Trade applauds the province’s commitment to achieve a balanced budget in 2013-2014, as well as the implementation of various
Ken Martin, chair, The Vancouver Board of Trade
austerity measures, which when combined will maintain our allimportant AAA-credit rating. In the letter, we call for the government to conduct a thorough health care spending review and create a well-charted course of action for the coming years. We believe there needs to be sweeping changes to health care spending, and we ask the government to challenge status quo approaches, in an effort to optimize service, streamline processes, and find operational efficiencies. Our third recommendation focuses on tax competitiveness, which is always a priority for The Vancouver Board of Trade. Business taxes, after all, are one of the key considerations that
influence a business’s decision to invest in a particular location. For that reason, it’s crucial that we remain competitive with countries abroad —as well as other provinces right here in Canada. With the return to the provincial sales tax scheduled for next April, The Vancouver Board of Trade supports an investment tax credit that would help encourage businesses to set up or stay in B.C. We also strongly encourage the province to not impose any further corporate tax increases or “contingent” tax increases, which would further uncertainty in the investment environment. And finally, our fourth recommendation is a call for strong leadership — including an economic vision for B.C. that is realistic and achievable, but also inspiring to British Columbians and internationally enviable. In particular, we’d like to see the government open up new markets for export potential, including natural resource sectors other than natural gas, knowledge-based industries, the transportation industry, and small business. The Vancouver Board of Trade’s recommendations are made in the spirit of encouraging the provincial govern-
TURN TO PAGE 15
FRIDAY, DECEMBER 7, 2012
PORT METRO VANCOUVER ANNUAL ADDRESS Robin Silvester, President and CEO, Port Metro Vancouver
Register now at boardoftrade.com