ISSUE 54 | FEB / MAR 2020
LAUNCHING OF THE
AUTOBIOGRAPHY Syed Mansoor Ali Naqvi OF
THIS MONTH FOCUSING ON Canada Warming At Twice The Global Rate, Climate Report Finds
Trading ETFs Near Dividend Dates
2019-TOP 10 Business Stories & Topics
How To Qualify A Realtor For Your Next Property Transaction?
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CROSSWORD PUZZLE
28
Horoscope
06
How To Schedule Your Day...
30
Master the Direct to Consumer Model
07
AutoBioGraphy Publishing
IS AN ATM
Syed Mansoor Ali Naqvi.
34
08
How Important is the Role of Work-life...
36
Andrew Scheer
10
Always Do Your Best
44
Valentine's Day
14
Exclusive Interview
48
10 Customer Service Traning Tips
18
Exclusive Interview
22
Greta Thunberg
CONTENTS Syed Mansoor Ali Naqvi.
Syed Alamdar Hussain Syed Mahmood Naqvi
Roy Cocciollo - Yourmortgageyourway.ca
Aquarius and Pisces
A Good Idea for my Business?
Quitting as Conservative Leader Amid Controversy
MBE Says Happy Valentine
Sarmen Abker - Atlass Consulting
Climate Change and the Role of Business
24
52
What kind of Home Owner Are you?
How to Qualify a Realtor for your next property Transaction
62
Uber Eats -
Stuart Himmel
EDITOR'S LETTER Dear readers, Welcome to our February and March 2020 Issue. We have covered two exclusive interviews in this issue: the first with Sarmen Abkar, a commercial financing expert and CEO of Atlass Consulting Ltd and the second with Roy Cocciollo, a residential mortgage consultant and principal broker at Yourmortgageyourway.ca. This time we have also featured a special article on Climate Change and The Role of Businesses in an attempt to raise awareness on the subject. Topics such as politics, law, business, entrepreneurship, taxation and real estate continue to be a part of our magazine and you will find articles on all of these topics in our latest issue. As always, we hope this issue will be an informative and entertaining experience for our readers and that it will live up to your expectations. Our team continues to work tirelessly to improve and refine our business magazine. Your feedback is highly valuable to us, if you have suggestions or comments feel free to call us at 1-866-667-1377 or email us at info@mbeforyou.com to tell us what you think about this issue. For ad placements and marketing related queries, please email us at mbe-marketing@mbeforyou.com Thank you, Aurora Zabala, Editor In Chief.
Publisher MB Enterprises Editor-in-chief Aurora Zabala Senior Editor Peter Z. Vaisey Managing Editors Steve Montgomery Mahmood Naqvi Design Cynthia Tolson A. Khan S. Saad Production, Technology & Print Simon Wilson R.J Advertising S. Hassan Shoeib Kamal Administration Alamdar Hussein Erum Asghar R. Adil HOW TO REACH US Website: www.mbeforyou.com Feed-back: 1-866-667-1377 E-mail: info@mbeforyou.com Mail: 100 Dynamic Drive, Unit 104, Scarborough, ON, M1V 5C4. Fax: 1-866-204-6888 MBE Business Magazine is a monthly issue business magazine published by MBE. Inc. Ontario, Canada. Printed by Vision Printers Contents Š Copyrights 2017 by MBE, may not be reprinted without written permission. Subscribe / Unsubscribe or Advertise by emailing us at mbe-marketing@mbeforyou.com
How to Schedule Your Day and Your Life Syed mANSOOR Naqvi
PRESIDENT MBE
Today I would like to share with you: How to schedule your
and now you know how, you will go all the way to 8 hours.
day. Let me tell you my routine. It may guide you to achieve
Every hour working in your office, you have to think about
your goal. When you wake up in the morning you have to
your mentor and how he schedules his or her day.
think about the following: Scheduling the day with a positive attitude can help you to 1. What are you going to wear today?
mingle with your colleagues and once you share your ideas
2. What is the good news for today?
with your colleagues you will get more positive energy. Up to
3. What motivates you to go to work today?
lunch, just review what have you done from the morning until
4. Once you reach the office, the reason which is going to
lunch and what you are going to do from lunch until the
motivate you, to remain at the office
evening. It is very tricky to find a spark during office times
5. Finally by the end of the day, the reason forcing you to go
which will motivate you to work harder. That is the secret of a
back to your place of residence.
positive attitude and positive thoughts.
Let me explain it to you one by one; When you wake up in the
My message to you is: when you spend your time in the office
morning, you are fresh and dressed well and wearing a nice
or in your house you have to be very honest and in a positive
perfume and if you think like today is your first day on the job,
mode. Even if you have bad news you have to deal with it in a
your brain works positively and you immediately start thinking
positive manner. In my life, I plan my schedule with a positive
what new things you can accomplish today
attitude and I plan my week with energy and my month with motivation and my year with an yearly agenda.
Lets take an example so you can understand what I am trying to tell you. If you are working in operations or as a sales
I still remember when I initially started scheduling my routine
person, both of these fields you are thinking about yourself,
- The day, time, year and I still remember today, if I close my
your costumers, and your company.
eyes, what I did each day, week, month and year. This is the way to schedule your day and life
You should divide your day in 8 hours. What you should do in the first hour and what you will perform in the second hour
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
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“AUTOBIOGRAPHY OF CEO/PRESIDENT MBE GROUP READY FOR PUBLISHING IN FEB/MARCH 2020”
How Important is the Role of Work-life Balance SYED ALAMDAR HUSSAIN Country Head - MB Enterprises
The role of Work-life balance in the life of a corporate office
MOTIVATING YOURSELF EVERYDAY
worker is very critical in the busy and stressful work environ-
Motivations everyday means you need your energy per day
ments. It particularly depends on your working patterns, how
and you need to be at your best. As they say “Every day is a
much you take breaks at work and your usual late sittings.
New Day” means your day should always give you fresh boost and positive energies.
Hence, work life balance is not only important to maintain a balance in your life style, it is a necessity of the modern work
In order to achieve what you want from the day means you
culture. The demands of the work environment is to maintain
should balance your life and your work. It’s like charging your
the pace at work with pressures and stay ahead with the
battery while relaxing at home and training your mind with
deadlines. A stressful work environment can only be relaxed
your vision if you are involved in a project.
through casual breaks, having a cup of coffee or tea, and relaxing with a casual game of table tennis or other indoor
Managing your projects with proper timeliness and planning
sports.
will definitely exhibit positive results to sustain your work environments and creating a positive work-life balance.
Your creativity at work needs to be maximized through appropriate work-life balance measures. It is not only manda-
HAVING PROPER HOLIDAYS
tory, but it is a requirement of the modern era.
Taking your holidays at the right time, means you are well aware of the importance of work-life balance. Giving time to
THE IMPORTANCE OF A WORK ENVIRONMENT ON WORK- LIFE BALANCE
your kids and partner, planning a holiday overseas and
Work environment and its importance has been emphasized
making the best use of the holidays will always motivate you
since decades as it outlays a huge impact on the working
for success.
patterns of individuals. A stressful work environment means it can make you a ‘workaholic’ and sometimes you will be
A healthy mind is a necessity if you are a busy worker, a
spending nights at the work place. Such an environment
responsible man, and someone who likes taking initiatives.
needs to be balanced through proper planning of targets.
The priority should be to work for the difference and act like a
Working with discipline means you are always ahead of your
catalyst between your company’s vision and your own goals.
goals and your targets will stay aligned according to how you have planned. Work environments play a distinguished part
WORKING EFFECTIVELY IN A TEAM
as they are a reflection of an organizational culture.
Working effectively in a team environment is the best source of sharing your workload and creating a work-life balance. It
An organizational culture means how relaxed you can be at
helps in getting to shared goals and making things organized
work and what’s the role of an organization in determining the
for future positive results. This approach is better rather than
goals. Being active will definitely keep triggering your mind for
taking too much load on your own.
positive options and making fruitful discussions with your peers.
A Team environment always matters in achieving targets and thinking creatively in providing concrete & stable solutions.
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
BEING AN EFFECTIVE SOLUTION PROVIDER
THE IMPORTANCE OF EXTRA-CURRICULAR ACTIVITIES
Solution providers are considered as the most intelligent
Outlining the importance of extra-curricular activities like
people in a company. They are well trained to provide good
parties, picnics, sports activities and other related affairs is
solutions and cost effective approach just for the sake of the
the best way to relax. It is one of the ways to break the ice
company. However, for a solution provider, thinking with an
between the co-workers and creating a work-life balance. An
attitude holds huge significance and all this requires peace of
essential element is to know the spirit of work life balance
mind. Having a work-life balance means you know how to
and why is it important in daily life.
deliver and provide the best solutions with deep insights and analysis.
MANAGING STRESS- THE SOLUTION IS CREATING A BALANCE Managing stress at the workplace needs immense creativity
HOW IT IMPROVES POSITIVITY
and the only solution is through Work-life balance. The daily
Work-Life balance improves positivity and increases the
stress at work, project pressures, deadly deadlines and lack
attitude at work. It not only increases your accomplishments
of discipline can cause stress situations. A decent time away
at work, but also increases the level of focus. Positivity is the
from the workplace at home or walking on a seaside and
real focus at work as it not only helps you work with concen-
brainstorming always helps making a move in the right
tration, but you know well why it’s important to create that
directions.
balance. Nobody wants a complicated lifestyle, stress issues and tensions at home due to lack of time given to family.
Strategically speaking it can be the ultimate solution if the right balance is attained very regularly and effectively.
With the passage of time work-life balance is more important as a human mind significantly can decrease in power of thinking, mental strength and mind focus for the 8 hours pattern i.e. 9-5.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
09
Always Do Your Best
SYED MAHMOOD NAQVI Vice President | MB Enterprises
We have all heard, “Always do your best.” Whether it came
personal energy. But doing less than your best leaves you
from our parents or a teacher doing our best has always been
with guilt and regret.
a challenge throughout our lives. But what does doing your best really mean? And is it even possible to always do your
Investing all your energy into the moment and away from
best?
thinking about how the moment could be better is a practice
'Do Your Best, and God Will Do the Rest'
that will improve all areas of your life. If you always invest all your energy you have into conscious
Trying your best is always a great way to encourage and
life and away from the unconscious mind then you will always
motivate people but it is also very helpful to yourself.
be doing your best. Don’t fear that you won’t do as well as you want or you will succumb to those fears.
The point is, that you just have to live each and every moment with the intention of giving your all to the present, whatever
By staying in the moment and becoming fully present your
that entails. You can’t do your best if you are worried that you
mind begins to fear the future and harp on the past less and
could be doing better, otherwise you are no different than a
less. You become less dependent on external validation. You
dog chasing its tail!
spend less time setting expectations and more time actually doing the things that will lead you towards achieving your
Doing your best is not about meeting expectations or achieve-
goals.
ments. It isn’t about success or failure, It is about putting all your energy into whatever life situation you are currently
When you always do your best, you will be amazed by the
experiencing.
results. It is a program for living that progresses the more you work it.
Your best doesn’t mean trying to do more than you’re capable of in the moment. Doing more than your best depletes your
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
MBE
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Exclusive Interview
Roy Cocciollo
Principal Broker at Yourmortgageyourway.ca MBE: Please tell us a bit about your background in this business, how you got into residential mortgage brokerage and consulting and your early beginnings? Roy: I started in the banking sector in 1998. I started as a CIBC mobile rep. I was there for about a year and then I got hired by Canada Trust. They had a hiring freeze so I left CIBC and I had deals coming in so I went to a friend of mine who was a mortgage broker who introduced me to a broker of record and then I became an actual mortgage broker in 1999. I worked with them for a few years and then started my own little shop: Color Short Mortgages in 2001. Then I was a managing partner at Monster Mortgages for 9 years. Now I am broker & owner of a small, niche mortgage brokerage downtown called Yourmortgageyourway.ca. We have been a company now for about 6 years, we have around 21 agents, we specialize mostly in residential mortgages, we also do some small commercial, some construction loans, some private lenders as well for those that don’t fit the box. MBE: What are the key things you did that kept you in the business for so long? Roy: I think there are a couple of things. It can be a very lucrative business. Most people who come into it, see dollar signs and they do things the wrong way early on. I think something that is rampant now in the business is mortgage fraud, costing a lot of people a huge amount of money. I think last year it was around $500M dollars discovered in mortgage fraud. People think it doesn’t hurt anybody but it hurts everybody. It makes regulations tougher. Everyone talks about why mortgage rules are so tough and this is one of the reasons. Home ownership in Canada is a privilege, it’s not a right. I would love to see everybody own a home but you have to make sure you take the right steps in order to get it. Longevity in this business means doing what’s right for the client. MBE: Home ownership is a very challenging thing to accomplish for first time home buyers. So what is your advice for such people who are in the market for their first home purchase? Roy: The problem you run into, with the guidelines that OSFI puts in place will be the B-20 rules. And you look at, you’d have to have a 25 year amortization, qualify at the mortgage qualifying rate. I’ll give you a great example. I have a client who is a teacher and makes $80,000 a year, she’s got 10% down, and she qualifies only for a $400,000 purchase. Not that she can’t afford more, but with the regulations make it very difficult for her to purchase something at $400,000. I mean what is she going to buy with $400,000? A studio apartment, maybe? So what ends up happening is, you’ve got all these people who can afford to buy, but don’t qualify for them to purchase something that is actually reasonable. I think that if you are a first time homebuyer, try to get the biggest down payment you can, try to have at least 20% whether you get a gift from your parents or maybe have a cosigner so you can actually buy something that is reasonable. I have found that first time homebuyers, you need to do your homework way in advance, you need to find out if you qualify today even if you are looking at a purchase 2 or 3 years down the road, so that at least you know what you need to do to get there. MBE: Can you describe the stress test in layman terms for our readers? I think a lot of people talk about it but most don’t understand it.
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Roy: The stress test is put in place by the government because they feared interest rates will continue to rise. So what they did is, they made anybody who wants to purchase a home to qualify at a much higher interest rate, which is the contract rate + 2% or the MQR which is mortgage qualifying rate set by the government which is 5.19%. So what they want to know is, we know you can pay 2.69%, we know that you can afford it, but they want to make sure you can afford it if the rates go up to 5 MBE: What is your advice to the young professionals aspiring to enter this field? What route they should take in terms of education and experience and what pitfalls they should avoid? Roy: Firstly, I think it is definitely a viable career but young professionals entering the business have to set their expectations right. I think when I first started it used to take you around 6-9 months to get your feet really rolling and make consistent money. Now it’s closer to 2 years because the market has gotten more competitive. I think you should definitely take your brokerage course if you are interested in entering the field. Seneca College has a course, Mortgage Professionals Canada also has a course you can take. I’ll say get your experience at a bank. Banking will give you leads and help you understand the regulations and guidelines and they will help train you. After getting experience at a bank you can jump into mortgage brokerage. MBE: What are the most common reasons people don’t get their mortgages approved? Roy: Credit is one thing and your credit score is very important. Also, their income is a factor. The biggest hurdle for most of us is your down-payment. I spend more time collecting down-payments from clients than any other documentation. So when you are preparing to buy, make sure you have your down-payment organized and paperwork organized. Furthermore, for employment stuff, make sure you have your T4 and if you get bonuses, commissions or hourly pay we will need a 2 year average. MBE : Can you share some suggestions on how to maintain a good credit score? Roy: You have to make sure you keep your credit around 75% of the total limit. So if you have a $10,000 credit card, you want to have a $7500 balance rotating every month. Another good thing to do is pay your credit cards more often, smaller amounts, but more frequent payments. So if you owe $200, instead of paying $200 once a month, pay $50 a week, because the more transactions you have in their, the more the repayments, the higher your credit score will be. MBE : How do you see the projections in the coming few years Roy? Should people wait or buy properties now? Will the
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
15
market stay stable, or will it go up or down? Roy: The good news is that rates will be relatively stable. You’re not going to see huge fluctuations in rates. The biggest issue with this country is that immigration is accelerating and we have a housing shortage. In 10 years, we will have a catastrophic housing shortage. That means housing prices will continue to rise gradually, rent will also continue to rise. If you want to get in the market the best time to buy is today, because tomorrow it’s going to cost you more. Affordable housing, the only way that will happen is if the government will allow us to continue to build with less red tape and start creating housing. If you want affordable housing, the government is going to have to allow less bureaucracy and allow builders to build. The only way housing prices will come down is if there is a surplus. If people can’t buy, they rent and if you push more people towards rent the rental market goes up. Housing will never become affordable until the government does something about it and actually allows builders to build more and more until there is a surplus. Then prices will stabilize and will even come down. MBE: That was very insightful, thank you for sharing your financial advice, suggestions and projections with us today Roy and thanks for your time. It was a real pleasure talking to you and we have learned quite a lot from this interview ourselves, we are sure this interview will be very interesting and informative for our readers as well.
Contact Today For A Free Consultation:
Roy Cocciollo - Yourmortgageyourway.ca Email: info@yourmortgageyourway.ca Phone: 416-640-0930
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
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MAINTAIN FINANCIAL FLOW AND INVEST WISELY WITH 25 YEARS OF EXPERIENCE IN BUSINESS LOANS
DOING DOING BUSINESS BUSINESS ACROSS ACROSS NORTH NORTH AMERICA AMERICA INCLUDING INCLUDING THE THE U.S, US, BUSINESS FINANCE, BEACON SCORE 550 AND UP, FOR BUSINESS OWNERS ONLY - Working Capital Loans (From $500 - 500k)
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CONTACT
Sarmen Abkar
ADDRESS: 3550 Victoria park ave. Suit #309 Toronto, Ontario, M2H-2N5 WEBSITE: www.atlassconsulting.ca PHONE : 1 (877) 341-5222 - 647 341 -5222
Exclusive Interview
Sarmen Abkar
Consultant & CEO Atlass Consulting LTD. Atlass Consulting is a Canada based mortgage consulting agency and brokerage firm that deals in financing, residential mortgages, commercial mortgages and bank loans. MBE: Please tell us a bit about your background in commercial financing, business line of credit and equipment finance? Sarmen: My background is more on business loans, business line of credit and equipment finance. I have been doing Commercial Financing since 1998. I started in the jewelry manufacturing business, when business went down a Jewish guy came to me and said why don’t you go to Seneca college and get a consulting and mortgage license. I did that and got those licenses. For 2 years I worked on residential then I moved on to financial consultation for start-up businesses, business line of credits and equipment finance. MBE: What is one common mistake that people make when applying for a business loan? Sarmen: Most people in my experience when you go to the bank today, when you ask for a business loan or business line of credit or equipment finance the bank asks you if you own a house. And they say we can give you a loan against your house. That’s the worst thing to do. You should never put your personal things as collateral against a business loan. When you have a business, borrow against the business. Two years ago in New York I partnered with a bank that finances business people with poor credit with high interest rates, I did a few deals with them. Last year I partnered with Lending Loop, a Canadian Company that finances businesses even if they have poor credit, although with high interest rates. I always advise my clients not to get business loans against your house or other personal property MBE: How much liability is there on commercial financing of 1%? Sarmen: If you get a business line of credit you’re responsible for 100%. But when you get a government loan you are responsible for only 25% personally. If you get a $100,000 government business loan and things go bad you have to pay $25,000 and you’re clean. MBE: What about RBC or BDC? Sarmen: BDC does not have that facility. Only chartered banks have that facility because government is the co-signer for 25%. MBE: What is your suggestion for new and aspiring small business owners to avoid bankruptcy and financial trouble? Sarmen: The problem with most clients is that they mix their business with their personal assets and liabilities. Their personal visa is paid for from the business, their mortgage is paid from the business account. So they are mixing their business and personal accounts. A lot of businesses close down due to this. If I’m working for my company, my company should be separate from my personal finances. I ask my clients to sit down and calculate how much money they need a month to live and maybe the answer is $4000, so you have to tell your accountant to write a check as income from the company for that amount every month. Normally everything is being paid for from the business account and they don’t
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know how to manage their business and that is why they close down. Sometimes they use their personal money to open a business and end up borrowing more and more. That’s why they are closing down. MBE: So what are some suggestions you will give to people opening up a new business and looking for a business loan? Sarmen: Don’t borrow against the house, don’t use your personal line of credit and your personal credit card for business expenses. A lot of people today don’t think before they open a business. They just think, this business is good, I’m going to invest into it. I tell them I know it’s good but I know a lot of people that have closed down and I tell them you are going to close down too because they think it’s good and they jump right into it without proper planning. They rented a huge place they cannot afford. I had a client get a place for $8000 rent; he wanted to open a restaurant; he wanted to go big. I said you should start small, no matter the kind of business you are going into, see if you can afford it, what is your budget, that is the way you have to control it. You can’t just go and get a big place and think you can make it. I started this business from my car, a Grandam model 1999. You start small, you look out and see how you can expand, you go step by step, that’s the main reason for businesses to close down so frequently today, lack of proper planning. People use their personal money, plus people have bad accountants, the bankers don’t give them sincere advice about what to do, but the first thing is hiring a good accountant. MBE: We have seen certain industries taken out of the financing schemes offered by the banks. For example, BDC no longer finances gas stations or restaurants. So what should consumers be aware of when they are buying a business? Sarmen: For the restaurants it’s tough today but it was very easy back in the day. They used to finance restaurants up to 90%. If you own a restaurant today the best bank to work with is RBC, they go up to 67% and sometimes they do leasehold improvements too. Because so many restaurants are opening up, restaurants are tough these days to get financing on. BDC came up with a program few years ago where you can get a loan online from BDC and last year they had a lot of frauds due to the online banking program. Because anybody can apply for a loan under my name, and they call that person and he can say I’m Sarmen and they don’t even know and the loans are approved. That is why BDC today is not giving a lot of new businesses the loans. That’s why BDC is getting tougher today. MBE: Thank you so much Sarmen for your time and for shedding light on the various aspects of commercial financing. This interview will definitely be very helpful & informative for the readers, it was a pleasure talking to you today.
Contact Today For A Free Consultation:
Sarmen Abkar – ATLASS CONSULTING LTD Email: sarmenabkar@atlasfinancial.ca Phone: 647-294-9096 W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
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FEBRUARY - MARCH
EVENT 2020 CALENDAR FEB 2
SUNDAY
Groundhog Day in Canada Groundhog Day in Canada focuses on the concept of a groundhog coming out of its home in mid-winter to “predict� if spring is on its way in the northern hemisphere.
FEB 14
FRIDAY
Valentine's Day in Canada
FEB 15
SATURDAY
National Flag of Canada Day in Canada
Valentine's Day is an opportunity for people in Canada to tell somebody that they love them in a romantic way. It falls on February 14, the name day of two saints, St Valentine of Rome and St Valentine of Terni. In pre-Christian times, the middle of February was a time of pagan fertility festivals in Europe and allegedly the time when birds chose a mate.
The national flag of Canada was inaugurated on February 15, 1965. The anniversary of this date is officially called the "National Flag of Canada Day", which is often shortened to "Flag Day".
FEB 17
MONDAY
Islander Day in Canada Islander Day is a holiday in the province of Prince Edward Island on the third Monday of February. It gives people the chance to have a day off to relax or to take a short winter break.
FEB 17
MONDAY
Family Day in Canada
MAR 8
SUNDAY
Clock Changes in Ottawa, Ontario, Canada in 2020
Family Day is observed in the Canadian provinces of Alberta, Ontario, Saskatchewan, and New Brunswick on the third Monday of February. In British Columbia, Family Day falls on the second Monday of February. This holiday celebrates the importance of families and family life to people and their communities.
Sunday, March 8, 2020, 3:00:00 am local daylight time instead. Sunrise and sunset will be about 1 hour later on Mar 8, 2020 than the day before. There will be more light in the evening.
MAR 9
20
MONDAY
Commonwealth Day in Canada Commonwealth Day is annually held on the second Monday of March. it commemorates the Commonwealth of Nations, which is a union of some countries that used to be part of the British Empire. The date was chosen because it did not have any previous historical connotations.
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
MAR 16
MONDAY
St. Patrick's Day in Canada
MAR 22
SUNDAY
Isra and Mi'raj in Canada
St Patrick's Day is a public holiday in the Canadian province of Newfoundland and Labrador on the nearest Monday to March 17 each year. It remembers St Patrick, a missionary who converted many of Ireland's inhabitants to Christianity in the 5th century. His feast day also celebrates Irish culture.
Many Muslims in Canada observe Isra and Mi'raj (Al Isra' wal Miraj, Lailat al Mi’raj, or Laylat al Miraj). This event commemorates the Prophet Muhammad’s journey from Mecca to Jerusalem and his ascent into heaven. It is observed on the 27th day of Rajab, the seventh month in the Islamic calendar.
CROSSWORD PUZZLE SOLUTION
MONTH DEC - JAN
S A F E S S L A M E L E E W W W. M B E F O RYOU. C O M
I B A R S L I M O Y A N K
P E C A N I M P U D E N C E
S H T O E T O S E D C I C H E P S A W T E T H T O E T O E A H L U S D
E I D L M E F A C T O D E K T L A I A S P N E T O M O P Y E A N D L T R E S E
I C E E T I O C R S S I U T S A E L T O A X
S W O O S H
M I S T L E T S O C E H S A T H A A L S E
E S T O
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K E R N
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D D D E R
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
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GRETA THUNBERG
CLIMATE CHANGE & THE ROLE OF BUSINESSES
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
In 2018, a 15-year-old Greta Thunberg stood outside the Swedish parliament brandishing a simple placard that read “School strike for the climate”, wearing her pigtails and a checkered shirt. Little did Greta and her peers know that very soon she was about to become a trailblazing icon of climate change activism and start a global movement.
influential people list in 2019. She has also been nominated for the 2019 Nobel Peace Prize. She has been touted as ““the biggest voice on the biggest issue facing the planet”.
Greta was born 3 January 2003 in Stockholm, Sweden. Her mother an opera singer and her father an actor. She was diagnosed with Asperger’s syndrome and OCD at a young age. Greta first learned about climate change in 2011, at the age of 8 and couldn’t fathom why so little was being done to fight it. She challenged her own family to reduce their carbon footprint and their overall impact on the environment, adopting a vegan lifestyle, giving up commercial flying and upcycling household waste. Greta refuses to view her Asperger’s diagnoses as a disability, choosing instead to call it her “superpower”, saying that “being different is a gift.”
HOW BUSINESSES CAN PLAY A ROLE IN THE FIGHT AGAINST CLIMATE CHANGE Despite all the effort, it seems the world has hardly budged. There is not much political support for Climate Change action, with the United States, the second largest emitter of green-house gases recently pulling out of the Paris Climate Change Accords. The global emission levels are on the rise instead of reducing and the change required is nowhere near in sight.
After her protest outside the Swedish parliament went viral on social media, thousands of students joined in and others strikes sprung up across the globe under the “Fridays for Future” banner. Students in more than 100 countries skipped school to demand more action on climate change and a reduction of green-house gas emissions. Greta became an internationally recognized voice for climate change activism overnight and travelled extensively to climate change protests and summits, travelling by train to limit her impact on the environment and even sailing, on more than one occasion, on a zero-emission, solar-panel equipped yacht across the Atlantic on her way to a climate change summit. Greta has also addressed heads of states at the UN, telling them that “This is the biggest crisis humanity has ever faced," and has met several International leaders including President Obama and Justin Trudeau in an effort to raise awareness and urge governments to do more to tackle the climate change crisis. She continues to speak at Tedx conferences, NGO events, climate strikes and uses her social media to address a following of millions. “We are facing an existential crisis... it will have a massive impact on our lives in the future. And I think that we should wake up, and we should also try to wake the adults up, because they are the ones who — their generation is the ones who are mostly responsible for this crisis, and we need to hold them accountable.” Greta Thunberg Ms Thunberg has won several accolades for her climate change activism. She was named Swedish Woman of The Year by Swedish Women’s Educational Association in 2019. Time Magazine has named her a “next generation leader” and she was named the youngest Time person of the year in 2019. Greta was also included in the Time’s 100 most W W W. M B E F O RYOU. C O M
"She has offered a moral clarion call to those who are willing to act, and hurled shame on those who are not," Time magazine
While climate change might be a harsh reality to accept, the science behind it is solid and our planet is changing. We are facing a humanitarian and planetary crisis and it is a crisis of global scale, governments cannot do enough on their own to tackle it and the private sector is equally accountable, businesses must do more if we hope to win this fight to save our planet. If businesses do their part, small efforts can add up to significant impact on the environment. Companies can take action and draw up plans to reduce waste, set emission reduction targets, reduce food waste, adopt renewable energy sources and recycle wherever possible. Businesses can also act to reduce their power consumption and can encourage employees to switch to more eco-friendly modes of transportation such as carpooling in company owned electric cars or cycling to work. Business owners and leaders can also come together and influence government policies by supporting parties and politicians who have climate change on their agenda, to shift government policies towards a low-carbon future. Doing your part in the fight against climate change will not adversely affect your business and sustainability does not mean compromising on profitability. Averting a global crisis that threatens life on our planet as we know it is reason enough to act, however there is also shrewd business sense in doing so. People like working for businesses that are eco-conscious and consumers support businesses that are actively taking part in shaping a better future. The appeal of environmentally aware companies is on the rise and your business can benefit tremendously from the popularity of a green, eco-friendly reputation. It also has great story-telling potential which can be used in your overall marketing strategy to show your potential customers that your values align with theirs. MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
23
How to Qualify a Realtor for your next Property Transaction? SYED HASSAN Royal Le-Page, Royal Brokers Buying or Selling a Real Estate property anywhere in the
2. Commission & Fees: If they are giving away too much of their
world is one of the most important decisions in one’s life
commission means they will not bring added value to you.
whether it’s for yourself or for investment purposes. In my last
They are hungry for your business. Any commission works for
15 years of this profession, I always joke with my buyers/cli-
them. I have seen ADS for $1,000 a listing. They will not do a
ents that after selecting your spouse, buying a property is the
proper job promoting and will cut costs on required expenses
next biggest decision in your life.
like: Flyers, advertising, travelling and open houses etc. A good realtor will ask for their fair share of commission
There are many factors to be considered when looking at a property:
because he/she will put their full experience and efforts into
Location; Value; Future Projection; Market analysis; Growth on your
your transaction.
investment; Taxes; Highways; Schools; Mortgage; Fit for your family needs; Closing cost; Transition; Inspection; Rental or lease items attached to the
3. Working Full time or not? If the realtor is not full time, they will
property; and finally during the process, you and your family’s privacy and
be doing a poor job missing on opportunities of prospective
confidentiality.
buyers or showings. They will try to accommodate you in the time they are free, not your free time. They will become
So, do you want to put such a big decision in the hands of an
experts in making excuses, missing on important calls or
amateur, inexperienced and unprofessional individual?
appointments. Priorities will be differ from a part time real estate agent vs. a full time real estate agent.
I have seen customers devastated at the hands of Real Estate professionals who are not doing their job properly.
4. Specialization: Check your Realtor’s credentials and their
Unfortunately, it seems like every other person gets their Real
area of expertise. A west end realtor will have trouble selling
Estate License for quick money but they lack dedication,
your house in the east end. They will not be effective in terms
knowledge and hard work. Now a day, you will find many
of knowledge, comparable properties and negotiations. Also,
families with one or two realtors in house. Some of them
if a realtor’s area of expertise is in pre-construction, they will
have other jobs like driving a taxi, own a convenience store,
do poorly in resale. They will not do all the hard work in
run their own accounting office, appear on radio shows or are
showings, they will be weak in negotiations, open houses and
mortgage brokers. People find quick cash in this field and do
vice versa. If the Realtor’s expertise is only in resale, they will
a few deals in a year just to make some extra cash. They lack
not be able to bring you exclusive benefits plus you could
education, experience and professionalism. Real estate has
miss out on promotional extras from the builder as well. They
become a heaven for part time business.
will not be able to negotiate the things that usually get missed or swept under the rug from the builder like: Assignment
What a prospective buyer or seller should do?
clause, Lease during Occupancy and capping on development charges in the contract which will cost you immensely at
Look for the following attributes before finalizing a Real Estate
the time of closing.
Professional: 1. Experience in the Industry: You can count experience in
5. Honesty, Ethics and Conduct: Some of the most important
banking, lending and financial advisor towards this industry.
factors in selecting a real estate professional are Trust, Honesty, Transparency, Ethics and how they go about
24
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
conducting business. Due to amount of money and commis-
qualified mortgage so the client will not be stuck in a deal or
sion involved, a realtor with poor credentials can compromise
the possibility of losing their deposit.
your interest in their small gains. There can be many other factors when choosing a real estate 6. Keeping the client’s privacy and confidentiality: During the real
agent but in conclusion, my advice is to always choose an
estate transaction, a realtor comes very close to any family; I
experienced and professional realtor.
have seen families fighting, arguing and crying in my presence. Clients discuss financial issues, family issues and
Why do we always select the best doctor, lawyer, dentist,
matters related to children and schools in my presence. Their
financial advisor or tourist operator; Because we want the
disputes, their preferences, their weaknesses and their
best for ourselves. You should not be compromising on one of
strengths become mine as well. During and/or after the
the most important transaction/decisions in your lives when
transaction, a client deserves privacy and confidentiality. Any
selecting a real estate agent!
unprofessional and inexperienced realtor can do more harm than good to the client
Professional and Educational Background B.Sc. Electrical Engineer, Real Estate Broker, Financial
7. Financial Advice: A house purchase can become very
Advisor, IQCS Certified Lead Auditor & Consultant for ISO
emotional for the client which is why all clients want the best
Management and Environmental Standards, Certified Total
property for themselves. One can get easily carried away
Quality Manager.
when it comes to selecting a property. A good professional real estate agent will always keep their and their client’s eyes
Professional Experience and Affiliations
on the ball. What the client can and/or can’t afford will factor
Royal Le-Page Exceptional, Royal Brokers, American
in their decision and the agent will advise according to the
Express Bank of Canada, Budget Rent a Car, Moody’s, SGS,
client’s budget. A professional realtor will get their client a
PIQC.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
25
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36 41 44 47
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22_-Soviet relations 42 Material for Elvis, Elton and 23 IHubbubs Liberace 24 __ -Cooper 43 Purple bloomers 25 Baker's need 44 Brain and spinal cord, initially 28 ilntroduction to surgery? 45 Throwout 29 "But, wait. .. there's more" knife 46 Grand Canyon transport 30 Some Baltic residents 49 Pass through a sieve 31 Grafton's" -for ii n no cent" 50 Old Russian autocrat 35 !Hawaiian dish 51 First-rate 36 Party-starting shout 52 Trendsetting 37 Eyebrow shape 56 Paper size: Abbr. 38 Take-out order? 57 The Eagle that landed 39 Didn't stand pat 58 Nay's opposite 40 Teetotalers' org. founded in 1874 41 Hardly an early riser
See previous issue answers on page # 21 W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
27
Horoscope for Feb-Mar 2020 AQUARIUS - PISCES AQUARIUS Aquarius, you never merge within the group, but you are always the outsider everyone wants. Your experience, contacts, connections, talents or just your unique personality helps flip the chemistry. This makes for some amazing results, as you have seen in the past. No doubt you
to say yes. I also think, beyond this
happened before.
situation, which is most immediately obvious to you, there is a second.
As I’ve had a few Aquarius readers
Think back and you’ll remember how
ask me why 2019 wasn’t a joy-fest
badly one person or organisation
with their teams, clubs, groups,
behaved, just a few months ago. You
associations, bands, societies and
had high hopes and were basically
the rest, I have to gently remind you
booted out, or your ideas were.
that a lot of astrologers don’t work with Ceres. What’s Ceres? A symbol
Well, leave that door open. With this
of politics. People who want to own a
specific person or organisation, or
situation or control it! As much as you
another in the same ballpark area,
have had lucky Jupiter in your zone of
you’ll see (this time) something real.
you had to make it clear.
friendships, Twitter and networks all
Something terrific. And something
year – you have also had this
irresistible.
This is likely to still be stumbling on,
powerful planet too. She’s really been
thought 2019 would be the same, but you were so disappointed by the direction the group was taking at the end of 2018 or start of this year – that
but guess what? It’s the stumble that became a giant leap, as October showed you. While you were doing other things with your life, people surprised you and delighted you. You felt some kind of solidarity and
28
mutual support again, no matter what
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
behind the saga you had earlier.
The final week of November is hugely important for you Aquarius. Say yes
Now, with Ceres gone from this chart
to everything and everybody and
zone on November 15th and a
figure out the details later. You don’t
dazzling new beginning for you from
have to sign anything yet. What we’re
November 23rd-27th, you really have
talking about here is good karma with
W W W. M B E F O RYOU. C O M
your friends and the group, as the
project or job has had to roll on. Yet –
South Node in Sagittarius rocks your
something rather fabulous has now
world May 6th, 2020 to January 18th,
made you feel a lot better about your
There’s more, Pisces. I’m looking way
2022.
role, project or plan and you are quite
ahead here, to 2022. You have the
right to be optimistic. In fact, you
South Node of karma going into this
should be a lot more than that.
same zone of achievement, social
You’re such a ‘feeder’ of networks. Of community. As I said before, you don’t
well.
rank, position and ambition – from
merge, you stand outside and supply.
Your whole problem has been Ceres
May 6th, 2020 until January 18th,
Yet, having done so very, very much
in Sagittarius, in your Tenth House of
2022.
for groups in the past – you’ll collect in
career, ambition, social status,
2020 and 2021. Make it even bigger
popularity, power and position. She’s
I mention this because everything you
and better by doing your utmost to be
out of that sign on November 15th and
give back, donate, help out with and
generous when life is so good to you,
with her, goes the politics. In fact,
pass on – in this tremendously lucky
as November ends.
either as a direct result of what you
final week of November – comes back
signed up for, a long time ago – or a
to you in that timeframe.
Pisces
spin-off from the original project – you
Pisces, 2019 does end up rewarding
will be celebrating major success and
They call Jupiter the planet of
you, in terms of there being some kind
unforgettable natural highs, on
protection. He does that, and gets you
of karmic payback or justice, for your
November 23rd-27th. Father Christ-
out of trouble, if you’ve had any. Yet,
many years of hard work or education.
mas comes early then. Sure, the
he also very much rewards you by
You’re already feeling so much better
actual relationship may be complicat-
helping you to expand your career.
about what was essentially a mini
ed, with tremendous jealousy or
You may have been prominent or
failure to you, dating from end 2018 or
possessiveness on one side (this is
successful in one field, but Jupiter
early 2019. Back then you were
typical of Venus, who is next to Jupiter
invites you to cross over into quite
dismayed at the way things were out
at this time).
another. There may also be expansion
of your hands, and by the attitude of
involving specific countries or
one person in particular who felt that
Who cares, though, when your C.V. in
languages: having done pretty well in
something was all his/her territory!
years to come looks quite so epic?
one territory, you see a door opening
This is an achievement whose
in another. All this fits the final week of
No wonder you quit, or half-quit.
gestation and delivery you may have
November, and the symbolic
Maybe you just had to quit in your
very mixed feelings about, but you’d
language of Jupiter, Venus and the
head and mentally resign, as the
have to admit, 2019 is going to end
New Moon in your chart.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
29
Master the Direct to Consumer Model THE CANADIAN PRESS
It’s a plight shared by countless up-and-coming entrepre-
route can lead to rapid expansion throughout Canada, and
neurs. You have an idea for a great product and an identified
even beyond.
audience that could benefit from your creation, but you don’t know how to get it to them.
Testing the waters For an early-stage DTC business, there may be nothing more
For Sophie Boulanger, co-founder and CEO of a Montre-
valuable than the ability to test the market before determining
al-based custom prescription eyewear retailer BonLook, that
a go-to-market strategy. “What’s your awareness with
idea was higher quality and more affordable glasses than the
consumers? Your key target market? How do they perceive
ones she’d grown up wearing (and replacing) every few years.
your brand?” says retail expert and co-founder of Retail
“If you want to offer the customer more variety, better service
Advisors Network Bruce Winder. “You really have to do a
and have a straight line of communication, wholesale kind of
full-blown analysis and test the channels you’re interested in
defeats that purpose” she says, reflecting on her initial
pursuing.” Before branching out into brick-and-mortar,
considerations for distribution. “Plus, it eats up a lot of
BonLook opened a temporary kiosk in a high-traffic are, an
margin.” Instead, the company decided to launch online eight
inexpensive and ultimately successful, gamble that gave them
years ago, leveraging marketing channels to build a consum-
the confidence to look for something more permanent.
er base when e-commerce was still in its infancy, it worked. BonLook now has 34 retail locations spread across Canada,
When Geraldine and Rob Brouwer, owners of Big Country
along with a flourishing online business.
Raw which manufactures and distributes raw pet food for dogs and cats was founded at Smithville, an Ontario based
The direct-to-consumer (DTC) model does have its benefits:
business in 2012. Their goal was to have their products sold
greater control of product image and branding, improved
in specialty pet shops. However, they used a DTC home-deliv-
relationships with customers, and increased profitability, not
ery model to prove to retailers that there was a demand, a
to mention the oodles of data that can be gathered to inform
necessary step to convince stores to invest in the pricey
future business decisions, and when done right, the DTC
refrigeration units needed to stock their wares. “It’s a strategy
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
that still works for us” says Geraldine, claiming that Big
North America, with another seven to launch by fiscal year
Country Raw products are now stocked in more than 600
end. Still, Winder has a word of caution “One hazard is selling
stores Canada-wide. “When we find an area with lots of home
your soul a bit too early to some of the big retailers because
deliveries that is not supported by a retail location, we use
you can’t pass up the volume they offer” he says. “But in long
sales data to engage a retailer and can push our customers
term, it might be tough to wean yourself off of them and
to them”
maintain profits”
Likewise, Indochino being a Menswear retailer leverages data
Marketing matters
it gains from sales using geo-location tools to strategically
Social media, a key part of any cogent marketing strategy,
expand their showroom locations. “We review customer
can be a crucial free, or paid channel to reach customers. Big
behavior for about six to 12 months in a certain area before
Country Raw has a private, very active Facebook group with
opening a location” says the CEO Drew Green. It’s a strategy
around 4,000 members, and they work with 50 brand reps on
they likely to be trusting with, as seen the company had
Instagram with a cumulative reach of 13 million Canadians.
launched its online-only business in Australia last year.
“We find that when we go into a retailer with new products, they’re much more likely to pick it up if they’ve had customers
Choose your channel
coming into the store asking about it,” says Geraldine.
Our ever-shifting purchasing habits, and the prevalence of the internet has certainly made it easier for DTC businesses to
Indeed, for bootstrapped businesses, online and social media
set up shop, but there’s no hard-and-fast rule that says a
marketing dollars can provide some of the best ROI. In
retailer needs to stick to one specific channel. Indochino, now
BonLook’s case, online interactions were really the only way
the world’s largest custom apparel brand, began in 2007 as a
they communicated with their customers for the first four
purely online experience. When the company was acquired in
years of business. Towards the end of the online-only period,
2015, and Green was called as CEO, it began branching out
they started increasing their social media presence and
into physical showrooms, a move that’s proven incredibly
advertising with bloggers. “That also helped us realize that
successful. “85 percent of all consumer behavior is still done
people wanted to try on our products,” says BonLook’s
in-store, so my partners and I felt like we were missing a very
Boulanger, a move that helped inspire opening physical
big opportunity by not creating an Omni channel business,”
locations. Online or in-store, the glasses business is looking
Green says. Indochino has grown over 45% in the last three
good.
years and currently has 48 physical locations throughout W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
31
MBE
inc.
YOUR SUCCESS IS OUR PASSION
104-100 Dynamic Drive, Toronto ON M1V 5C4 1-866-667-1377 | 1-866-204-6888 info@mbeforyou.com
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ISO PROGRAM
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ESS 20160620
IS AN ATM
A good idea for my business? DIGITAL MEDIA MARKETING MBE
ATM is a good idea for any business when we are living ideally in the business world. It is not only a good thing from
Research studies have shown that ATM users will spend up
the business point of view, but is also a source of conveni-
to 25% of their withdrawal in the same store the ATM is
ence and approachability for customers. According to a
located. Combined with more foot traffic, this could increase
Market research report, most retail shoppers prefer not to
your sales to significant amounts. Also depending on the type
have cash with them, and when they enter the retail store,
of the retail market, the spending, the discount offers,
they have budget in mind. Hence, they are well aware of their
exclusive deals, seasonal deals are all areas where the
feasibility requirements, and how much amount of cash they
customers will spend money and automatically they need
need. The following are the options that are the best from the
cash for that. Although the POS systems are a source of
marketing POV;
reduction in cash payments, still most people in many countries prefer cash payments due to transaction security. A
1. Increased Foot Traffic
desirable marketing strategy is the best way for increased
2. Increased Sales
sales and foot traffic.
3. Customer Retention 4. Surcharge Revenue
CUSTOMER RETENTION:
5. Reduced Card Fees.
From Customer’s retention Point of View, it is important that valued customers are retained and valued with significance to
INCREASED FOOT TRAFFIC:
branding strategies. When a customer enters a retail store, or
The need for customers in store is a mandatory requirement
a market, they assume they will find everything inside,
for all store businesses. Having a well-advertised ATM is an
including an ATM machine.
added advantage that will definitely bring customers. Especially true when either your own business or those around accept
The marketing is done primarily keeping in mind most
the cash transactions.
customers, and their visibility options. Customer’s value can increase with significance after a customer starts browsing in
By having an ATM installed at your business these potential
stores and is attracted with good and ideal deals. While the
customers will enter your store to use it. Therefore, ironically
customers use the ATM machine, most of them prefer to get
increasing your sales levels.
cash with free payment options, i.e. no surcharge at all on
Increasing the foot traffic is the best approach according to
taking the cash from the ATM. Naturally, if they don’t find an
the marketing and promotions point of view, and enhances
ATM they will have to leave costing time, and making them
customer’s approach towards satisfaction.
uncomfortable. This also creates an opportunity for the customer to change their mind and not move ahead.
INCREASED SALES: Having an ATM in your store will automatically increase your
Hence, from a simple marketing theory, having an ATM in
sales and will give you direct profitability. It will also give
your retail store, outlet or shop will definitely prevent custom-
profitability options that are unplanned as customer satisfac-
ers from leaving to gather the funds necessary for the
tion aspects will in return result in fruitful profitability.
purchase.
34
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
amount, and it is an amount generated every time a transacCustomer retention is not only impactful in any form of
tion is made from the ATM. The surcharge fee can also be a
business, it is also a mandatory requirement while sustaining
sum of the transaction fees and the basic nominal surcharge
businesses. It helps in creating a brand image in the eyes of
amount, depending on transactions per day. Something to
the customer, as brand loyalty and values are the key in
know how ATM generates money in a busy retail environ-
customer retention. One cannot object a good paying
ment.
customer, just as the phrase goes “THE CUSTOMER IS ALWAYS RIGHT�. Hence, valuable customers if given their
REDUCED CARD FEES:
due importance are a good source of business in form of
As a merchant, you are probably familiar with the fees you
shoppers, referrals and word of mouth marketers i.e. Viral
have to pay for purchase made with a debit or credit card.
Marketing.
While the amount of each fees depends on the total purchase price, even small fees can add up to a significant amount.
SURCHARGE REVENUE:
Installing an ATM will increase cash transactions, thus saving
When you lease or purchase an ATM, you set the transaction
you money by reducing the number of debit or credit card
fee customers are charged when they use it. This fee, then
fees. This reduced card fees is hence a bonus in the competi-
goes directly to you providing your business an additional
tive ATM operational environment.
revenue stream. While you spend some time and money on ATM maintenance, it is a minimal compared to the income the
The priority of installing ATM is highly recognized with
machine generates. If you chose to have an ATM placed,
reduction in card fees, i.e. a profitability approach.
instead, you still get a percentage of the revenue and you will
Simply answering all the question why ATM is a good idea for
not have to do any of the ATM maintenance. Either way, this
all businesses.
is a great new revenue stream for your business. This is the best way to generate revenue through a surcharge
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
35
Andrew Scheer quitting as Conservative Leader amid Controversy OTTAWA—Conservative Leader Andrew Scheer has
board approves a dedicated fund to cover a leader’s expens-
announced he will step down once a new leader of the
es but does not sign off on specific expenditures, a source
Conservative Party of Canada is selected.
told the Star.
Scheer told his caucus MPs at an emergency caucus
But Scheer’s supporters pushed back at any suggestion that
meeting Thursday that he would be quitting, but will remain as
he was under pressure to quit and denied suggestions he
leader of the Official Opposition until a new leader is chosen.
wrongly used party funds.
Conservative MPs then filed into the House of Commons
“There was no misappropriation of any funds,” MP Chris
tight-lipped, where Scheer delivered his resignation speech.
Warkentin, one of Scheer’s loyalists in caucus, told CBC on Thursday.
Scheer said he had come to a “difficult decision” to “put my family first,” saying it had been an “incredible challenge” to
Conservative Party of Canada executive director Dustin van
lead the party into the last general election.”
Vugt confirmed Thursday that the party has been paying part of the schooling costs for Scheer’s children.
He said he would stay on as a member of Parliament and pledged his full support to the next Conservative leader.
“As is the normal practice for political parties, the party offered to reimburse some of the costs associated with being
Scheer urged party members to “stay united” through the
a national leader and relocating the family to Ottawa,” van
months-long leadership race that is now about to unfold, but
Vugt said in a written statement.
made clear he no longer had the stomach for it. “Shortly after Mr. Scheer was elected leader, we had a “This party, this movement, needs someone who can give
meeting where I made a standard offer to cover costs
100 per cent to the effort,” he said, adding that after conversa-
associated with moving his family from Regina to Ottawa. This
tions with his children and family, “I felt it was time to put my
includes a differential in schooling costs between Regina and
family first.”
Ottawa. All proper procedures were followed and signed off on by the appropriate people.”
As the news broke, Global News first reported allegations that Scheer used Conservative party money to pay for his
Kory Teneycke, a former Stephen Harper aide who mounted
children’s private schooling. The Star had received similar
a campaign to dump Scheer, told the Star Thursday that his
allegations and has now independently confirmed that the
decision to step down was “the right decision. It should have
Conservative Fund “partially covered the costs associated
happened on election night.”
with” Scheer’s children’s schooling, but would not specify any amounts.
But Teneycke said that if the allegations about private school payments are true, there is “no way” Scheer should remain in
There are conflicting reports about whether top party officials,
the top job until a new leader is chosen.
like Stephen Harper who remains a director of the Conservative Fund, were aware of such a use of party money. The
36
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
“Benefits paid to party leaders should be above-board and W W W. M B E F O RYOU. C O M
transparent,” Teneycke said. “They should be public, they
Trudeau then crossed the Commons floor to shake Scheer’s
should be filed to Elections Canada, and they should be fully
hand and hug him.
disclosed to the party membership. Hiding this stuff — secret payments to party leaders — is outrageous, it’s from some
Scheer, his eyes red-rimmed, and his lower lip quivering, had
bygone era that should never have existed and ... I don’t think
told the Commons that since being elected in 2004 as a
you’ll find anyone in the Conservative party who would say
25-year-old MP for Saskatchewan’s Regina-Qu’Appelle riding
anything other than it’s inappropriate.”
and in 2011 as Speaker of the House, “in many ways I’ve grown up here.”
Scheer was faced with praise in the Commons chamber after he announced his decision to resign in the coming months.
Bloc Québécois Leader Yves-François Blanchet and NDP Leader Jagmeet Singh also set aside partisan differences to
Prime Minister Justin Trudeau quickly entered the chamber
pay tribute to Scheer. “What unites us is the desire to work for
after Scheer’s speech to deliver an impromptu tribute,
the common good,” said Singh.
thanking Scheer and his wife Jill for their “service to Canada.” Conservative MPs and senators had dodged reporters’ Trudeau said he understood the challenges Scheer outlined
questions on their way into the Commons.
about juggling family and political work, and of leading a diverse party. He said for all the challenging moments, he
After Scheer’s speech, MPs from his caucus lined up to
wished Scheer “all the very best” in his future work, and
embrace him and shake his hand, followed by MPs from all
thanked him again “deeply, for his service to Canada.
other parties in the House.
“Thanks, Andrew, for the work you’re doing.”
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
37
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HAPPY VALENTINE’S DAY 2020 FROM MBE BRIEF HISTORY
rule was harsh and rather cruel.
believe that they can’t be separated
Valentine’s Day is the day for the
Hence, he broke the rule and used to
by any one and their love is purely for
celebration of love and is celebrated
arrange marriages in secrecy. As
each other.
in form of sharing gift cards, choco-
soon as the Emperor knew about
lates and parties. Love is a very
Valentine and what he did against his
There are many couples on this day,
simple and generic term and has
rule of anti-marriage, he threw him to
who intend to make families and
many number of emotions that speak
jail and sentenced him to death.
mostly men request their girlfriends to
of affection and attraction. This day is
Before, his death Valentine was in
be their future wife.
for expressing string interpersonal
love with jailer’s daughter and he was
attachment and making fresh
killed on 14th Feb, but he was able to
In the West, it is part of their culture
promises of love & keeping up with
write him a letter signed “from your
to celebrate the Valentine’s Day with
the promises.
valentine”. St. Valentine made a
huge emotional and moral signifi-
historical mark in history and was
cance. United States, Canada, U.K,
There are more than one facets to
remembered later on the Valentine’s
Australia and New Zealand and many
the occasion of Valentine’s Day that
Day. A day where mostly lovers gift
other western countries all celebrate
has evolved constantly from a long
cards and chocolates and share gifts
it with full vigor, attitude of benevo-
time, and the value has always
as symbol for the love of Valentine.
lence and an urge to stay together for
increased.
a long time. EMOTIONAL
The day has its name originated from
There is a huge emotional and
A day dedicated to the partners, as
the famous ST. Valentine who was a
psychological significance of this day
the day full of promises and being
priest from Rome in the third century
for lovers all over the world. They
with each other whenever and
AD. The story behind this is from the
celebrate their love through gifts
wherever needed.
reign of Emperor Claudius ii, the
sharing, and sharing their most
emperor who banned marriages, as
priced emotions and sentiments to
COMMERCIAL VALUE
he had a thinking that if men will
their loved ones. On this day, i.e.
It was a day for the honor of love has
marry they won’t be good soldiers. St.
Valentine’s Day, couples are highly
evolved with a commercial value all
Valentine, who was a thinker felt the
sensitive for each other as they
over the world. We have stepped in
44
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
2020, and Valentine’s Day has a huge profitable value, commercial value, media value, entertainment value and its celebrations are the source of huge materialism. Holds importance in culture and hence, a huge importance in cinemas i.e. Hollywood, as film industry shows and highlights romance with an emotional setting and drama intensified. A paradigm set by the West in the new age, it is not only a day of lovers expressing their love for each other. But, it is also a day celebrated with huge fervor in the entertainment industry. The importance of media to Valentine’s Day has increased over the year since its evolutions long time back. This also speaks volume for the media and entertainment industry power and its positive effects on the youth. PURPOSE The purpose for this day is fulfilled with pure energies to celebrate the meaning of love. ‘Love’, an emotion that has many forms and is a celebration indeed in the West especially. Expresses ‘Freedom of speech’, ‘love’ and couples honoring each other with love letters and greeting cards. Sharing love and demonstrating love for each other in form of phrases like “I Can’t live Without You”, “I might die without you” etc. etc. The purpose is to define the intensity of love and life for each other and living with each other at all times. A pure heart is always filled with emotions of love and Valentine’s Day i.e. 14th Feb, is a day that marks value for that love. HAPPY VALENTINE’S DAY FROM MBEA happy valentine’s day to everyone from MBE. We value this day as it is a symbol that marks the love between two unmarried couples and is also a gesture for pure love between partners. The sharing of your love messages with your girlfriends and wives must always continue as this emotion holds pure importance and must always be cultivated. We also wish everyone in Canada a Happy Valentine’s day. Canada, the biggest country in North America, holds huge celebrations on Valentine’s Day and people party and mingle around with huge fervor and passion. It’s the wish of MBE from the core of heart that all these celebrations makes Canada more peace loving, benevolent and a lovely country to live.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
45
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10 Customer Service Training Tips DIGITAL MEDIA MARKETING MBE 1. Clearly define customer service training
ment. Today it is understood that
goals
people constitute one of the great
Keep in mind your main goal when
strategic differentials of a business.
reflect on your customers' experience. 4. Provide the tools you need and conduct training on how to use them for customer
conducting customer service training. Identify the results you expect and use
Increasingly, factors such as IQ or
service.
them to focus your training.
extensive technical knowledge must
Provide the resources your employee
give way to Emotional Intelligence
needs to serve your customers well
For example, if you run a restaurant
Quotient (EQ) and so-called soft skills
and teach them how to use these
franchise, you expect your customers
- skills that foster good relationships
tools. An example is the sales
to be well received on entry, orders to
with others.
consultant who goes out in the field
be delivered according to the quality
most of his workday. A smartphone
standards and customer choice, and
3. Clearly communicate your expectations
will facilitate prospecting and communi-
any issues to be promptly resolved as
Don't assume that everyone knows
cation with customers and headquar-
per House policy. Clearly identifying
what you expect in terms of service
ters.
what results you expect will make your
and standard of care. Be very specific,
training more effective.
mentor your new employees by letting
Provide the tools and train your
them know what you expect.
employees to make the best use of
2. Train your team not only technically
them.
The maxim "professionals are hired
In your Onboarding process, be sure
for their technical skills but turned off
to include training that makes these
5. Set boundaries and show flexibility
for behavioral problems" has never
issues clear. This helps engage
Setting boundaries is important so
been so evident. This statement
employees from the outset to provide
that employees know what practices
reflects a change in business manage-
efficient service. This, of course, will
they can follow to meet customer
48
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
expectations and deal with
7. Listen to your most critical customers and
towards your customers and employ-
complaints.
use their training examples.
ees reflect on serving your business.
The toughest, most demanding, most The more flexibility you can offer and
complaining customers can be
Be a good example and guide the
the more clearly these service
valuable sources of information and
leaders of your company to do the
guidelines are communicated, the
insights for your customer service.
same. This will be the best daily
more employees will be able to quickly
After all, if you know how to handle
training for your team!
resolve issues that arise and delight
them, satisfying other customers will
their customers , which will be
be even easier.
10. Audit how customer service occurs in your company
resolved without resorting to the famous “I want to talk to your manag-
8. Also use failures and achievements as
To implement customer service
er. "
sources for training
training, you need to identify the
Don't just focus on team success or
needs of your customers, assess the
6. Gather real situations and scenarios when
failure. A strong customer service
skills of your employees, design and
giving examples
culture depends on balancing these
implement ongoing training methodolo-
Your training needs to be grounded in
factors. Try not to treat your employ-
gies, and regularly monitor how
real customer service and customer
ee's failure as a punishment, but as a
service and customer service is being
service situations. Gather real
learning opportunity. Why did it fail and
performed in order to perform the
examples and, if possible, involve your
what can be done to prevent the
necessary adjustments and gain
best employees in conducting training
recurrence of the error?
insights to update the trainings.
can help highlight good and bad
The opposite is also valid. Celebrate
A good tool to help you with this topic
examples and best practices when
the achievements and share them.
is the Hidden Client methodology,
dealing with the customer.
The best training sometimes is to
such as that offered by you, which is a
show your team everything that can
benchmark in customer service and
It also helps simulate cases when the
be done from good and bad
auditing. Through it, your company will
real situation occurs, your team is
situations.
have a diagnosis of how the service
for new employees. Their experience
better prepared to understand the
occurs. This will allow you to measure
reasons for complaints, create
9. Train by Example
the effectiveness of your internal
solutions to avoid them, and have
Training should not be just in theory.
training.
more empathy for your customer
Your attitude towards consumers counts many points. Your attitudes
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
49
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What Kind Of Home Owner Are You? DIGITAL MEDIA MARKETING MBE Being a home owner is one of the
and calm yourself.
prestigious things and symbol of
day and you need your family interactions especially on weekends. It must
honor for a person living in any
A clean and an ‘organized’ environ-
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also be a fireplace, painting, or a
opportunities has many requirements
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for a home. How well you can keep
means you are there to interact with
place for your couch or sofa also
your home clean and tidy, well
your family, friends, especially playing
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with your kids.
who like family gatherings and
guests is immensely important.
get-to-gather. THE LIVING ROOM- YOUR COMFORT, YOUR
Therefore, a home must have all the
LIVING:
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relevant ingredients of a charming
The living room is a symbol of pride,
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interactions, socializing and making
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gorgeous play area.
yourself feel comfortable. It should be
only in one part of the room.
well decorated, stylish and must be a KEEPING A CLEAN ENVIRONMENT:
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The living room furniture should be
Your home interior and exterior must
interactions. Being a ‘Home Owner’ is
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demanding for many people as it is an
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suit your needs and make you calm.
illustration of their style.
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Relaxation after spending long hours
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A perfect living room should be your
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52
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
an element of taste to the living
painting can be a masterpiece in
to try different things as part of the
room’s beauty, elegance and class.
many forms telling something about
change. Changes always are good for
Gorgeous looking plants with vases of
your inner self.
your nature as your home must have
different styles will always add to the elegance and style of the living room.
all the ingredients of an appealing YOUR HOME OFFICE DESK:
place for you and your family where
Your home office like most people
you can interact and dine. Clean your
Making the living room more attractive
have an environment of study at home
home to make it more appealing
with wall papers is a classy symbol i.e.
or they work part-time from home for
especially before any party or arrival
a symbol of touch and unique style.
some extra income or financial
of guests. Pay special attention to
Wallpapers are always a significant in
stability. Therefore, a home office desk
kitchen and bathrooms, organize your
a home decorative environment,
holds some key attributes.
closets, and clean your storage areas.
equipped with different styles and uniqueness in color and shades.
Working from home for many people
Normally, people would love to cook
is important to live in an environment
for themselves on a Sunday, and at
PAINTINGS- REDEFINES YOUR HOMES:
of success and high competitions. It
the same time would like to clean their
Paintings are a symbol of love,
signifies your importance of being a
most benevolent place of worship i.e.
softheartedness and the nature of
home owner but a bit differently and
The Kitchen.
people living in home. It tells many
uniquely. MAINTAINING YOUR ENVIRONMENT:
things about your inside-outs, especially your unique insights and your life
HOW DO YOU ACCESSORIZE YOUR HOME?
Being a home owner and maintaining
patterns. Paintings also define your
Home accessories are a vital part in
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your home.
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What Kind of a home owner Are You?
explains why art is so symbolic for
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A question that will motivate you for
you. Paintings also tell others i.e.
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After a long day at work it is important
example, something uniquely famous
likings.
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from the most popular artists i.e. Pablo
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Picasso or Italian Polymath and
WHAT’S SO APPEALING?
painter Leonardo Da Vinci. The
Being a home owner you would love
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
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57 55
2019-TOP 10
Business Stories & Topics DIGITAL MEDIA MARKETING MBE AT&T NOW SUPPORTS E-SIM on APPLE’s LATEST I-PHONES:
ADMINISTRATION:
The company AT&T is the first major US phone Carrier that
US has decided to reduce the Iranian exports to zero, this is
has added support for dual Sim Cards allowing the phones to
despite the renewed talks from White House about letting all
be connected to two networks at once.
oil import waivers expire in early May.
The good news for IPhone users is that having an iPhone XS
It was later in the last month that Trump gave his most
or XR, you should be able to use AT&T as either your primary
important message to OPEC that that members should start
or secondary sim without any hassles.
pumping more oil.
APPLE’S CEO: TIM COOK ‘s TALKS ON INNOVATION, AND ABOUT STEVE
EU Extends Sanctions on Russia Until Mid-2020:
JOBS-FORMER CEO & OWNER
The EU leaders on Thursday agreed mutually to extend their
At a recent event at San Francisco, USA Tim Cook having a
sanctions on Russia up until 2020. This extension is for a
conversation with audience said about Androids that we do
period of 6 months and includes Economic Sanctions. They
recycle them at the Apple store. There were also discussions
started in 2014 after Moscow annexed Ukraine’s crimea. The
of topics like innovation, data privacy, Artificial Intelligence,
restrictions targets Russia’s energy, financial and arms
Environment.
sector.
He mentioned Steve Jobs, the Apple Co-Founder and also
BITCOIN: - WHAT THE CHARTS SAY ABOUT BITCOIN:
discussed his relationship with Steve. He was very particular
It is the new frontier in currency and e-commerce. The role of
in mentioning to the audience at San Francisco that privacy is
block chain technology in global economy is moving forward
a fundamental right.
which is quiet ironic. The prices are more volatile than most stocks.
He also discussed aspects about innovation, and the misunderstandings that innovation is about change. According to
However, Bitcoin still appears to be a trading tool. The
Tim innovation is not about change it’s about making things
technical analysis is more precise, and the main reason
better and more impactful.
behind this is deeper data and history behind the price activity. Bitcoin is not an investment, however, it can be
FACE BOOK, TUMBLES IN JOB SATISFACTION RANKINGS, WAS ONCE THE BEST
termed as somewhere between a casino and the latest
PLACE TO WORK:
version of the “greater fool theory.”
Facebook was once known as the best place to work has tumbled in job satisfaction rankings.
GALAXY WATCH ACTIVE VS APPLE WATCH SERIES 3: The Samsung Galaxy watch active is a fitness watch.
It was ranked two years back as the “best place to work” in
Whereas, Apple Watch series 3 is a smart watch lover’s
USA by Glassdoor. Currently, the company is on number 23.
dream.
The things that sets Facebook from other companies is the goodwill and sustainability work they do for being more
In comparison for both watches Apple watch holds more
connected.
brand value as compared to Samsung watch in terms of its marketability, brand image and features.
US WILL FAIL TO CUT OFF IRANIAN OIL EXPORTS GOOD NEWS FOR TRUMP
56
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
8 THINGS TO KNOW ABOUT ALI BABA’S STOCK:
Alibaba is one of the world’s top smart speaker makers.: AliGenie is the
There are some important things that needs to be known for
smart speaker that can be used for placing the orders,
Ali Baba and stocks.
controlling the home devices and execution of third-party skills.
Ali Baba is 20 Years Old-FORMED in 1999: The E-Commerce company Ali Baba was founded 20 years ago in 1999 by Jack Ma.
TOP “5” CYBER SECURITY PREDICTIONS FOR 2020: Ransomware- A security solutions software
Ali Baba Only owns one profitable business: The core commerce business of Alibaba that generated 85% of its revenue in its
All the risks associated with phishing attacks will be the top
last quarter is the only profitable unit.
concern in 2020
Alibaba has a growing brick and mortar presence. The company has
The improvements in threats detection and making the
potential for huge expansions all over the world.
detection process fast.
Alibaba is expanding overseas: Expanding its businesses everyday
The enterprise collaboration platform are most often immedi-
overseas in South-East Asia.
ately and wrongly trusted by the users.
Alibaba is one of the biggest cloud players in the world: The third largest
An expansion in solutions to various different channels and
in the world after Amazon Web services (AWS) and
attack vectors by the Breach and attack simulation.
Microsoft’s Azure. ALBERTA UNEMPLOYMENT RATE FOR YOUNG MEN HITS 20%: Alibaba is the government-designated company for smart cities: The
The unemployment rate in Alberta province of Canada has hit
Alibaba’s cloud platform, facial recognition technologies, loT
20% which is very high. The unemployment since April has
services and other technologies from the Crux of China’s long
alarmingly increased especially for young men.
term plans for connected cities. It is also known that the gender split i.e. between the men and Alibaba owns a major search engine : The company Alibaba bought
women for job loss has been mainly due to the drop in prices
UCWeb search engine.
in the oil & Gas sector.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
57
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
59
Why Great Executives Avoid Shiny Objects Mark Suster www.bothsidesofthetable.com
The modern world is filled with
And then there are investors who
ment conversation, a first customer
constant distractions. Only those with
want updates, calls, reports,
meeting, the first candidate in a
maniacal focus on results and a
check-ins.
recruiting process, the first time you
willingness not to engage in every activity achieve extraordinary results.
talk with a journalist or the first The modern world is daunting. Many
meeting to consider your business
leaders fall into the trap of doing too
strategy.
As executives we’re all seemingly
many things but not accomplishing
accessible at any moment to anybody
enough.
via email, Twitter, Facebook, LinkedIn
Having interesting and frequent opportunities at the top of your funnel
or Text. We are over-intro’d and at the
I have written about this before and
is important, of course, but the
same time under-resourced in terms
often recommend to executives that
ultimate score is only measured on
of staff to handle the barrage of
they do less, but complete more by
the bottom end of the funnel.
in-bound requests.
avoiding the shiny objects and
And every leader also has teams with
distractions stop us from living up to
Meeting with 12 biz dev targets
our true potential.
makes for great conversations with
constant priorities where they need:
your board but doesn’t matter for shit
Input, feedback, decisions or
I think of activities as a funnel. Every
if none of them close in the end or if
meetings. We’re expected to be at
new opportunity and every door
you don’t get the right deals done.
conferences, events, sales meetings
opened is at the “top end of your
and be publicly visible. People expect
funnel” meaning that may or may not
Meeting a lot of candidates to find
blog posts, Tweets, panels, speeches.
come to fruition: A business develop-
your head of marketing is all well and
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
good but if 3 months later you still have no one in the role you’re still down a person. Taking tons of VC meetings is relatively easy but getting 1 or 2 to truly engage is much harder and takes total focus. The amount of time it takes to move along a few things forward in the bottom of your funnel is disproportionate long and hard relative to the time and ease of each new top-of-funnel activity, which is why many executives allocate their time on the wrong things. We all know executives who constantly talk a good game about vision and the things they’re going to do but actually never seem to deliver results. Eventually the bullshitting wears thin. We all know people who love to talk up their game but never deliver. People chase shiny objects precisely because opening is orders-of-magnitude easier than closing. My greatest personal successes in business have come from this one trait of being tenacious to the point of obsession on the most critical things and a willingness to totally disengage on less important activities until my plate is cleared. I am willing to disengage at times from the flurry of “activity” because when I have something that needs to be finished the only way I know how is maniacally focus on the bottom end of my funnel. It’s why sometimes I respond to emails in 5 minutes at other times I go dark for a week at a time. I learned this from Steven Covey so many years ago in the 7 Habits of Highly Effective People
Step one: Be proactive
Step two: Begin with the end in mind
Step three: Put first things first.
Put first things first. Get non-core things out of your way. Move stuff down the funnel and be careful about widening your funnel if you’re not closing enough of your tasks. Recruiting, business development, shipping product, writing blog posts, networking … it’s all the same. Lots of people start, very few finish. Opening is a skill in its own right, but coffee is for closers. W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
61
UBER EATS STUART HIMMEL Operation Department
Since its first market launch in Toronto in December of 2015,
Not everything has been smooth sailing for Uber Eats. Food
Uber Eats is available in 150 markets across the country and
margins are already small and with Uber taking its cut –
there are approximately 40,000 couriers delivering orders
usually 30%, means less for the restaurants. Others are
from 18,000 restaurants globally. Over the last 2.5 years, the
concerned about the conditions those delivering the meals
service has seen an increase of more than 315% in Toronto
have to endure. Drivers are compensated based on individual
restaurants on the platform and a 270% increase in monthly
deliveries they make which give them flexibility to wok where
users in the city.
and when they want but to also keep them off Uber’s payroll. Uber has long been fighting to keep delivery workers and
Janelle Sallenave, head of Uber Eats U.S. and Canada states
drivers from being considered employees. California recently
that this is nowhere near close to the limit of where Uber
passed a bill that many believe makes it more difficult to
wants to take food. She compared being in the first inning of
recognize app based drivers and couriers as independent
a nine inning baseball game.
contractors. Uber maintains its workers still classify as independent contractors and says it will not reclassify drivers
In recent months, Uber Eats has rolled out celebrity food
unless a judge forces it to. New Jersey has demanded that
partnerships delivering dishes from Rachel Ray and Popeyes
Uber pay $649 million (U.S.) in taxes and penalties. The state
meals inspired by the hip hop group Migos. Kim Kardashian
claims that Uber has misclassified workers for years.
West was used to promote Uber Eats for an Australian Ad
In Toronto, Foodora couriers are trying to become the first
and in Toronto; Uber Eats recently hosted a pilot of letting
app-based workforce in the country to join a union – a move
customers order food before arriving at a restaurant.
that has delved into whether the workers should be classified as independent contractors or not. Toronto Uber staff and
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
CEO have previously said the company will comply with any
around town, I might as well trust them to carry my pizza and
new laws cities are mulling over. Uber is committed to working
maybe my groceries as well.
with communities and regulators.
The situation pertaining
to the couriers comes as the company faces stiff competition
Vince Sgabellone, a food service industry analyst at research
from SkipTheDishes, Foodora and DoorDash and Postmates
firm NPD Group, believes the grocery and food services
is rumored to be sniffing around the market as well.
market is under penetrated especially for Canada and for digital ordering. Delivery makes up about 4% of total
The competition means that Uber has to lift its game which
restaurant orders but represent about 40% of the market’s
means rolling out new services, namely groceries. Uber is
growth.
formalizing its acquisition of a majority stake in Cornershop, a Chile based on-line grocer with a presence in the city.
Uber Eats and their competitors comprise about 2/3 of all
Sallenave states that what attracted us to Cornershop is that
digital delivery orders, while orders through individual
they are equally obsessed with operational excellence. There
restaurants’ apps and websites have fallen by 1% in the last
is a way they approach actually doing the selection for you
year. Sgabellone believes that domination won’t end anytime
and getting the food to you which aligns itself with how Uber
soon and that Uber Eats will continue to look for new ways to
approaches the same kind of problems.
innovate. Uber, for example, has dabbled with bringing food to airport gates and making alcohol deliveries, but hasn’t
Aside from grocery, Uber wants to be able to deliver food
delved into meal kits, catering or restaurant supplies just yet.
from any restaurant in less than 30 minutes and extend the delivery model to every single local retailer. If Uber has an
We, as a society, haven’t stretched too far out of our food
advantage, it will be brand awareness. People will think I’ve
delivery boxes yet as a customer base. Sgabellone says “I
already got the app and I already trust them to drive me
think there are lots of opportunities there”.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
63
The Discount Disruptors to Watch Through 2020 Robin Sherk www.canadiangrocer.com
The ongoing growth of discount
continue to look for value through
resonates strongly with Canadians
retailers in Canada isn’t intuitive.
store choice. Between 2012 and
and already has incredible reach.
Canadians reported record consumer
2019, the sales growth among chain
Kantar’s 2019 Canadian Shopper-
confidence last year, reaching a
discount retailers (including clubs,
Spective data finds that roughly 40%
10-year high by August. This also
dollar stores, hypermarkets and soft
of household shoppers shop at
translated to strong spending, as
discounters such as No Frills)
Costco for groceries and consuma-
seasonally adjusted retail sales grew
increased more than double
bles. Over the next five years, the
nearly 7%.
Canada’s overall retail chain sales.
retailer is set to open more clubs in
Over the next five years, Kantar
Canada than they did in the past five.
While we’re ready to spend, we’re
forecast’s these discount channels
This is to help them go after distinct
also frugal. Consumers continue to
will continue to growth at roughly 1.5
audiences (small businesses) and
demand value for money, as Kantar’s
times the rate of overall chain retail.
because management realized they
Global Monitor data illustrates.
can put clubs closer together without
Despite shoppers’ elevated
Discount players are a key growth
confidence, more Canadians agreed
driver in the market, second only to
in 2019 that they always look for
e-commerce, and the continued
The other is Dollarama. As the
sales compared to attitudes four
growth in this space will be led by two
retailer successfully pivoted into an
years earlier (85% vs. 82%).
key players.
everyday consumables destination,
On top of looking for deals, we also
One is Costco, a retailer that
cannibalizing sales very much.
its trip frequency and average basket
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
size continues to grow. On top of W W W. M B E F O RYOU. C O M
strong same-store sales performance, management is also aggressive about adding news stores. The retailer’s target store count was recently raised to 1,700, versus the roughly 1,150 locations today. Competitors across markets see the rising discount channel opportunity and are keen to get in the game. Given this, there are also two foreign disruptors to plan against. While it’s popular to assume this means Lidl and Aldi; it does not. I see them as a longer-term versus an immediate threat to the market; they are both too distracted with Lidl’s entry into the United States right now. The current entrants rising on the discount-retail scene are Dollar Tree Canada and Miniso. Throughout 2019, Dollar Tree’s management emphasized the strong performance and growth opportunity they see in Canada. Its president, Gary Phibin, even asserted in August that they “have an opportunity for 1,000 stores” in Canada, up from roughly 225 locations. This expansion would give Dollar Tree nearly the same footprint that Dollarama has today. At the same time, Dollar Tree is also expanding its reach in national brands and is reporting strength in categories including stationery, health and beauty care. This retailer, along with Dollarama, will step-up competitive pressure on drug stores’ front-end convenience proposition. Miniso is the other discount entrant worth watching closely. Launched in Canada last spring, it already has more than a dozen locations across British Columbia, Alberta and Ontario. The company aims to have 100 stores by the end of this year, with a goal to reach 500 sites. It targets millennials with small stores, unique and trend items, and low price points across home décor, accessories, stationery, and health and beauty care. This retailer will heat up competition with mall variety stores and dollar stores – likely pushing dollar stores further toward grocery and consumables to differentiate.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
65
Risky Business:
Managing Tax Practice Risks & How to Mitigate Them BRUCE BALL www.cpacanada.ca
Tax legislation is becoming increasingly complex, bringing
3. Lack of documentation – failing to maintain evidence of client
ever more risk for those of us who practice tax. Find out the
engagement terms or tax filing positions in working paper
most common sources of insurance claims filed against tax
files, including:
practitioners and how to mitigate risk.
• Failing to detect the client’s GST/HST errors or omissions when it was unclear whether checking GST compliance was
Tax is a highly contested practice area in our profession.
part of the tax practitioner’s mandate (engagement letters are
Statistics show that the highest volume and value of profes-
a key tool for reducing this sort of risk)
sional liability insurance (PLI) claims for small and mid-sized firms are related to tax services. With an increasingly
TWO KEY MEASURES YOU CAN PUT IN PLACE TO MITIGATE THESE RISKS:
complicated tax system, it is quite easy to see why tax is the
1. Only take on work within your circle of competence
top of the list when it comes to insurance claims and
Tax practitioners can avoid many of these risks by only
complaints. It is therefore crucial that practitioners take care
accepting work for which they have either adequate experi-
when practicing tax, keeping up with the latest tax changes
ence or the ability to outsource the work to qualified tax
and implementing quality controls within their practice.
specialists.
SOME OF THE MOST COMMON TAX-RELATED INSURANCE CLAIMS INVOLVED:
2. Implement quality control systems in your business
1. Lack of expertise – errors due to practitioners advising on
Quality control systems can not only help you avoid common
technical tax matters when they didn’t have adequate
pitfalls and manage risk, they can also help you improve your
experience or knowledge, including:
practice effectiveness.
• Family trusts and the financial impact of invoking the attribution rules
A FEW OTHER TIPS AND IDEAS:
• Timing and calculation errors related to designating a
• Use checklists: A best practice for your practice is to create
capital dividend
general tax preparation and review checklists for all of your
• Failure to file information returns, especially T1134 and
staff to use. Also consider using specialized checklists for
T1135 forms
common tasks and issues encountered within your practice, such as a cross-border tax checklist for clients that are
2. Lack of attention to detail – errors that could have been avoided
expanding into or outside of Canada or a checklist for setting
if there had been procedures and controls in place, including:
up family trusts.
• Shareholder loans outstanding for more than a year
• Implement a task and deadline tracking system: A task
• Late-filing information returns, especially T1134 and T1135
tracking system can help you monitor client filings and meet
forms
their due dates. It is also important that the system stores tax
• Late-filing corporate tax returns, causing the taxpayer to
filing confirmations. Finally, when doing this year’s work,
miss out on dividend refunds and, when there is a holding
consider reconfirming that last year’s filings have been
company, lose the ability to offset Part IV taxes payable
acknowledged by the Canada Revenue Agency (CRA) and other relevant tax authorities.
66
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
• Follow client acceptance practices: Before you take on new
the significant risks associated with an unreasonable
clients, it’s wise to determine their past filing history and any
valuation. If your client doesn’t want to obtain a valuation, you
issues encountered with the CRA and their past advisor.
should decide on whether the work should be done at all. At a
• Invest in education: The Canadian tax system is complex
minimum, the risks should be communicated and document-
and constantly changing, so your practice should continually
ed in your working paper files.
invest in staff education. Regular tax updates and advanced topic courses, including CPA Canada’s professional learning
Most importantly, be sure to keep tax risk top of mind and
and development courses, will help your staff identify tax
make tax risk management a top priority as you run your
issues and mitigate the risk of financial loss to your client.
day-to-day business.
•Document all material advice in writing: Your client working paper files should always include records of filing positions taken as well as client correspondence confirming the relevant facts. When you give your client material verbal advice, you should also document a summary of the discussion in case an issue arises later. •Obtain professional valuations: When related parties transact with each other in significant transactions including reorganizations, professional valuations should be obtained to avoid
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
67
Canada Warming at Twice the Global Rate, Climate Report Finds LEYLAND CECCO
Canada is warming twice as fast as
heat. But scientists say the retreat of
the rest of the world, a landmark
glaciers and disappearing sea ice
government report has found,
both contribute to a feedback loop of
warning that drastic action is the only
warming, which is one of the factors
way to avoid catastrophic outcomes.
contributing to Canada’s disproportionate temperature increase.
“The science is clear – Canada’s climate is warming more rapidly than
The report suggests the majority of
the global average, and this level of
warming felt in Canada and around
warming effectively cannot be
the globe is the result of burning
changed,” Nancy Hamzawi, assistant
fossil fuels.
deputy minister for science and technology at Environment and
Canada has already pledged to cut
Climate Change Canada.
emissions by 200m tonnes by 2030 – a cornerstone of Prime Minister
The report, released by Environment
Justin Trudeau’s national climate
and Climate Change Canada, paints
strategy – largely through a federally
a grim picture of Canada’s future, in
mandated carbon tax and shuttering
which deadly heatwaves and heavy
coal-fired plants.
rainstorms become a common occurrence. Forty-three government
Despite the urgency of the report,
scientists and academics authored
Canada remains mired in a political
the peer-reviewed report.
battle over climate policy.
While global temperatures have
Trudeau has pushed for a national
increased 0.8C since 1948, Canada
carbon pricing strategy, and on
has seen an increase of 1.7C – more
Monday the federal government
than double the global average.
imposed the tax on four provinces that refuse to implement one.
And in the Arctic, the warming is
Conservative politicians have
happening at a much faster rate of
pledged to remove the tax if they win
2.3C, the report says.
this fall’s general election, arguing
from the federal government to offset any added expenses from the tax – meaning costs to the average consumer are negligible. The report makes clear that Canada faces markedly different outcomes, depending on the policies it chooses to reduce emissions. Under a scenario in which global emissions are dramatically reduced, average temperatures will rise only 3C across the country by 2100, including the Arctic region.
that it is too much of a burden for While the increased warming in the
Canadians.
Arctic is not yet fully understood, snow and ice play a critical role in
But under the current plan, house-
reflecting the sun’s radiation and
holds will receive rebate cheques
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
Trading ETFs Near Dividend Dates WWW.CANADIANCOUCHPOTATO.COM In my most recent podcast, I
How settlement dates affect dividends
addressed an excellent question from
Now let’s consider how settlement
Philip, who asked, “Are there days
dates affect the payment of
when ETF investors should avoid
dividends. When an ETF announces
trading?”
a dividend (or, in the case of a bond ETF, an interest payment), it will
Philip’s question has nothing to do
declare a record date and a payment
with trying to time the market. He
date. To use a real-world example,
simply wants to know whether there
the most recent dividend paid by the
might be days when you should not
Vanguard FTSE Canada All Cap
buy or sell ETFs close to the dates
Index ETF (VCN) was $0.24 per
when distributions (dividends or
share, with a record date of March 2
interest payments) are made. And
and a payment date of March 9.
the answer to that question is—maybe.
This means any investor who owned VCN on March 2 would receive the
Let’s begin with a reminder that when
dividend one week later, and this
you buy or sell shares of an ETF, the
would be true even if he or she sold
trade settles two business days later
the holding during the intervening
(weekends and holidays are exclud-
days. If you owned the ETF on
ed). In the industry, this is known as
Monday, March 2, but sold it on
T+2 settlement. For example, say you
Wednesday the 4th, the trade would
buy 500 shares of an ETF at $20
settle on Friday the 6th, and you
each on Monday. Assuming no
would still receive the dividend on the
holidays, the trade settles on
following Monday.
Wednesday, so you do not necessarily need to have the $10,000 in your
You might be wondering whether
account until that day. (In practice,
there is an opportunity to profit here
some brokerages do not allow you to
by purchasing shares on the day
place a trade if you have insufficient
before the ex-dividend date and then
cash in the account on the trade
selling them the next day? That
date.)
would entitle you to the dividend and—assuming you could sell your
If you sold those 500 shares for $20
shares for roughly the same amount
each on Monday, the cash balance in
you paid—you would be collecting
your account might read $10,000
that income with very little risk.
immediately, but your brokerage almost certainly will not allow you to
Well, as you can imagine, if it were
withdraw that cash until after the
that easy, every hedge fund would
trade settles on Wednesday.
have an algorithm programmed to
W W W. M B E F O RYOU. C O M
harvest free dividends in this way. The reason this doesn’t work is that on the ex-dividend date, the share price of the ETF will fall by an amount roughly equal to that of the expected dividend. This makes logical sense, because a share of an ETF is more valuable if it comes with the promise of the dividend, and less valuable if the dividend is not included. The market is efficient enough to recognize this, so you can’t make a risk-free profit. All of this means that if you’re buying or selling ETFs close to the dividend record date in an RRSP or TFSA, there is no specifically good or bad time to place your trade. Either you’ll pay less for the shares and forfeit the dividend, or you’ll pay more and receive the distribution. There is no theoretical advantage or disadvantage either way.
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
69
2020 Outlook:
An Optimistic View of Capital Markets KRISTINA HOOPER Global Market Strategist, Invesco Ltd.
Global outlook: Central banks expected to drive growth
(GDP) growth to exceed expectations at approximately 2% for
As we look ahead to 2020, it’s clear that central banks are still
2020.
shouldering the burden for stimulating the economy via monetary policy. That should bode well for 2020, in our view.
Eurozone outlook: Policy responses to sluggish growth may remain elusive
However, we believe such monetary easing should be more
We believe the weakness in the manufacturing sector may
positively impactful for asset prices than the overall economy.
bleed over into the services sector to a greater extent next
Economic uncertainty is likely to continue to depress capital
year. In response, we expect the European Central Bank
spending, in our view, and we must watch vigilantly to ensure
(ECB) to remain accommodative in 2020, continuing quantita-
it doesn’t spill over into diminished hiring plans.
tive easing purchases and possibly even cutting rates again.
Bottom line: We expect overall economic growth of about
3% for the globe.
Furthermore, if governments, especially Germany, appear unwilling to provide fiscal stimulus, we could see the ECB explore more experimental monetary tools. However, we’re
U.S.outlook: We expect accelerated growth as next year progresses
mindful that this isn’t an easy task. Therefore, further mone-
Our view is that growth bottoms early in the year at approxi-
tary easing may not be possible in the absence of a deeper
mately 1%, and then accelerates as the year progresses.
downturn or outright recession.
Cycles tend to end with policy mistakes, and the risks have
risen. However, it is our base case that the policy mix will
less for the eurozone in 2020.
Bottom line: We expect economic growth of about 1% or
continue to get modestly better. We believe the Federal Reserve and central banks globally will deliver more accom-
U.K. outlook: Dec. 12 election to set the tone for next year
modation if necessary to support the economic expansion.
The economic policy uncertainty created by Brexit has
And so we do not expect a recession in 2020.
depressed business investment and business confidence.
Bottom line: We expect an environment of modest growth
Much of what happens to the U.K. economy in 2020 will
of approximately 2% for the U.S.in 2020, which exceeds
depend on the outcome of this month’s Parliamentary
consensus expectations.
election and the ensuing Brexit outcome.
Canada outlook: A chance of rising rates doesn’t dampen our growth
Bottom line: We expect the U.K. economy will grow at less
than 1% in 2020.
expectations We believe the Bank of Canada could be one of the few
Japan outlook: We expect tax-related headwinds to subside
central banks to raise rates in 2020 (most likely in the second
We expect the Japanese economy to stabilize in early 2020
half). However, we do not believe this will create headwinds –
after a fourth-quarter 2019 deceleration caused by the effects
the Canadian economy and stock market tend to do best in
of the new consumption tax. We then expect the economy to
an environment of quickening global growth, rising commodity
modestly re-accelerate. We believe the increased tax burden
prices, and an appreciating Canadian dollar, which would be
should slow consumption demand, although the impact
consistent with interest rate hikes.
should be much smaller than what we saw with the 2014
70
Bottom line: We expect Canadian gross domestic product MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
consumption tax increase. We believe the Japanese governW W W. M B E F O RYOU. C O M
ment is likely to initiate accommodative fiscal policy to help
boost fixed asset investments, and our expectation that there
counter tax-related headwinds, and we also believe the Tokyo
will be a stabilization in the tariff wars. But regardless of
Olympic Games will increase tourism and help boost econom-
whether the US-China trade conflict is resumed quickly, we
ic growth. We don’t expect the Bank of Japan (BOJ) to ease
believe China will utilize the fiscal and monetary tools
policy unless the yen strengthens significantly – in which
necessary to support its economy through the headwinds.
case we would expect the BOJ to consider a variety of policy
tools.
be approximately 5.8% to 6%, which is around consensus
Bottom line: Our base case expectation for Japan’s GDP
Bottom line: We expect Chinese GDP growth in 2020 to
expectations.
growth in 2020 is approximately 0.4%. Asset class outlooks: We favour risk assets over non-risk assets China outlook: We see positive catalysts on the horizon
As noted earlier, we expect continued monetary policy
Chinese economic growth has modestly decelerated, but we
accommodation with little fiscal stimulus. Therefore, we are
believe the fundamentals remain solid as the transition
more optimistic about capital markets than we are about the
continues to a consumption, services-led economy. China’s
overall economy, and we favour risk assets over non-risk
property market continues to be buoyant and is likely to see
assets for 2020.
continued robust investment growth, in our view. We expect further softening of the renminbi – but at a measured clip, which should also be supportive of economic growth. Other positive catalysts include fiscal stimulus measures that should W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
71
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