ISSUE 52 | OCTOBER / NOVEMBER 2019
happy
thanks giving biography
The Vision & Glory of CEO/President MBE Group Syed Mansoor Ali NaqviThe Man Who Did Everything on His Own. Pg. 07
THIS MONTH FOCUSING ON The Three Challenges For Canadian Retailers In 2019
Talech Point of Sale Systems
Jim Pattison The Canadian “Warren Buffet”
Beauty of a Person Is Temporary, But Personality Is Permanent & Everlasting
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CONTENTS 06
Secret of Success
08
Beauty of a Person Is Temporary, But...
10
How Important Is Passion When Starting a Business
12
Disney Plus Streaming Service To Launch In...
17
Northern Ontario Tourism Summit 2019
20
Event Calendar
22
3 Common Small Business
I will give you an advice, When you are busy in life...
26
Kiefer Sutherland Promises Make-up Concerts After Injury On Tour
27
CROSSWORD PUZZLE
28
Horoscope
30
Start-up Ideas To Consider For 2019
LIBRA - SCORPIO (OCT - NOV 2019) When you are tired of being a simple employee, you start to think about opening your own business...
OCTOBER - NOVEMBER 2019
(SMBs) have a reputation for being...
24
34
A Day in the Life: Building a Bright Future
The Three Challenges For Canadian Retailers In 2019
38
JIM PATTISON THE CANADIAN “WARREN BUFFET”
EDITOR'S LETTER Dear readers, Welcome to the 52nd edition of MB Business Magazine for the issue of October and November. We would like to start off by wishing you a very happy Thanksgiving, from our MB family to yours. In this issue, we discuss an array of issues ranging from the latest business news to Canadian politics, most importantly shedding light on the upcoming Federal elections, and the varying plans each party brings to the table. We would like to underline the importance of voting this October 21, 2019 in order to build a better tomorrow for you and your loved ones. 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
Secret of Success
Syed mANSOOR Naqvi
PRESIDENT MBE
I will give you an advice, When you are busy in life you always
Let's go back to the topic as to what I did in Canada and how
think that you are doing well but you do not know what you
I achieved my goals in life. Before I shared the journey, my
are leaving behind. You are just doing one thing in one
friends asked me how you became so successful in life. We
direction and you think you cannot do any other thing. Today I
came together to Canada, but you achieved a lot, which we
will share my experience in Canada during the migration
did not share the idea so we can follow the path and see
process.
where we went wrong. I told everyone not to ask me this question because once I will give you the answer you will not
I was very settled in Pakistan, teaching and becoming a
like it. My friends kept asking me, at last I told them that
scientist; It was almost impossible to get these two jobs but
during the journey of the migration how many times did you
due to hard work and the support of my family all was
think about your family. Of course, not your wife and kids
possible. Let me share my story of migration to Canada. I
because even animals take care of their wife and kids. So first
landed in Canada on April 09,1996.
you have to come out of that category. It means your mother, father, brothers and sisters. The answer I got from them was,
I brought nothing but only education. It was very hard to find a
how can we help them since we do not have bread for our
job and make money in Canada. Within my first week in
wives and children. Once we have something, then we can
Canada, I decided to move to the USA. I went there and tried
think about the rest.
to find a job and on the 10th day I found a job in pharmacy on minimum wages, which was around six dollars. On that night,
Brothers and sisters be responsible and God will give you
I thought I was born in Pakistan and worked hard 25 years,
more success in life.
got my MPhil degree and got two Jobs, which were to me my dream jobs, and are almost impossible to get in Pakistan.
If you want to achieve your goals take responsibility that is the secret of my life..
Luckily I got my immigration to Canada and stayed there for 7 days and ran away to the US.
Today my message to all of my readers is helping your family, friends and relatives and you will achieve your goal
Having No status in the States, the bottom line was I did not
eventually.
work hard enough in Canada. On that night, I decided to go back to Canada. remove which was a lovely night
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MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
MBE
inc.
YOUR SUCCESS IS OUR PASSION
The Man Who Made His Dreams Come True in the Business World ING BY LAUNCHF THIS YEAR” O “ TH E E N D
Syed Mansoor Naqvi By the End of the Year we are launching the autobiography of Syed Mansoor Ali Naqvi, President and CEO MBE Group. Learn about the struggles of his life, and how he launched himself into the dynamic business environment. The owner of MBE Group of companies, a diverse group that deals in many different businesses and has a huge online presence as well as a Global capacity. It’s not easy to compete in the real world. Please find out what it takes to compete in the real and dynamic world of e-commerce, and how to be flexible in accomplishing your targets.
“SUCCESS STORY OF A SUCCESSFUL ENTREPRENEUR: HIS LIFE AND HIS CHALLENGES ON THE ROAD TO SUCCESS” info@mbeforyou.com
100 Dynamic Dr, Scarborough, ON M1V 5C4
1-866-667-1377
Beauty of a Person Is Temporary, But Personality Is Permanent & Everlasting
SYED ALAMDAR HUSSAIN Country Head - MB Enterprises
Hardly few people can give the true definition of beauty, but
every man has his own compilation of thoughts and ideas,
most philosophers and thinkers are consistent that beauty is
and that makes them different.
an internal attribute more than an external one. While we give different thoughts and share different paradigms of beauty of
CONFLICTS IN OPINIONS:
a certain thing, we need to acknowledge it in the first place.
Having conflicts in opinion is what we need to understand
However, there is a deep connection with brain of how certain
with deep insights and a vision for success. Conflicts in
things work out and what’s in the brain is more important than
opinion keep occurring on little issues, but what’s important is
what is outside. Beauty can also be considered by some as
how they are managed while you are at work, at your home,
self-perception or a thought. While you grow old, you are not
with friends, or playing football. That’s where the personality
even close to how you might have looked in your young days,
of a person chips in, and can make it an everlasting entity, as
your strength might be different and so are your motivations.
issues that needs to be resolved must be resolved with an aligned mindset. We usually in a 9-5 work environment can
OVERCOMING YOUR PERSONALITY TRAITS:
have conflicts in opinion, but our tendency to manage
Every person working in a corporate environment, doing their
conflicts and resolve issues can make us more gorgeous than
own business, or studying to get a degree possess some
others. As our true beauty is in easing the up’s and downs,
personality traits or weaknesses. What is important is how
working with a pure heart and a clean mindset, and thinking
you prioritize your dealings and your interactions and make
for shared goals rather than setting your own targets.
them sound or one can say beautiful. Weaknesses and personality traits are the true enemy of your success, and
TRUE IMPACTS OF AN EVERLASTING PERSONALITY:
those can truly make you look bad, however, your positive
Some personalities are remembered forever and ever, and
attitude, a good gesture, or a firm and confident handshake
their impacts on the society is such that no one can ignore
can make you look beautiful. As the phrase goes “Beauty lies
them, neither their struggles. Steve Jobs, Co-Founder,
in the eyes of the beholder”, it is imperative to realize that
Chairman and CEO of Apple, has made an everlasting impact
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MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
of his sound personality, his hardworking attitude, and his
but it’s important to have a better diagnosis of your problems,
benevolent nature. He not only showed through his genius,
and stay focused. A 15 minute meditation exercise will help
but also through his creativity that personality is everlasting
you move forward in life and find the internal peace and
and beauty is a temporary attribute. He not only had a
beauty.
beautiful mind, but a truly acknowledged vision for the people
Success through internal beauty will enrich your mind and
and for the success of technology in the modern creative
your goals and help you change yourself in a more refined
world of computers & mobiles. The true impacts that we see
and revolutionary manner. People are more at ease when
today is the success of a company like Apple i.e. rated 8th in
they achieve what they want, however, the urge never goes
the Forbes list of most powerful companies, and is on a
away.
constant role of training and development.
A ‘PERMANENT’ PERSONALITY: However, there are many examples of successful personali-
A ‘personality ‘is something that a person develops through
ties, but what’s important to realize is not who they were,
his achievements, his hardships, his interactions and his
where they belonged from and how they were. But something
movements. In low times, a person’s true personality is highly
that is important is how they discovered themselves in areas
exposed, and that’s the attribute of a strong headed person,
of hard work, creativity, management, and as an int. ambassa-
to rise in times of distress, lows, and failures. This attitude of
dor of success. They earned money and linked themselves
a person never changes, making it a permanent attribute of
with charity organizations like UNICEF for humanitarian
his personality, and a focal point of his/her mind. Everyone
reasons. The impact is more critically acclaimed by the
needs a boost from others in times of distress, but the best
society as society needs change on a constant basis.
one is he who can boost himself through his everlasting personality characteristics.
ENHANCING YOUR INTERNAL BEAUTY: Enhancing your internal beauty will bring out the charm in
Patience is considered by many is a true attribute of a good
your personality, make you close to your success agendas.
personality, i.e. focused and calm at the same time.
We as individuals must always analyze and look forward, with a positive approach in life, as well as a sense of achievement.
However, in the end I truly believe that a personality is
As entrepreneurs, if we need relaxation, we must focus on
permanent, while beauty is temporary, but what stays with
the ups rather than the downs, and more focus towards
you for life is the diamond inside.
productivity, rather than profitability. Everything is interlinked,
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
09
How Important Is Passion When Starting a Business
SYED MAHMOOD NAQVI Vice President | MB Enterprises
Passion is the underlying key to success to do anything,
In any field or occupation, focus allows you to achieve
especially when you are starting a business. Most people
complex tasks. When you are able to achieve complex tasks,
believe that in order to start a successful business one needs
your passion is fuelled by the success that you achieve.
major capital and money, however more important than
Passion is your drive, ambition and the love of what you do
capital, one must have the true passion and desire to
and who you serve. It provides you with a very special view of
succeed.
the world and gives you a daily purpose in your life.
Passion fuels resilience and provides you with the ambition to
Stop and ask yourself: What is your true passion? What
learn and strive to become more competent at what you do.
makes you excited about what you are doing? The difference
More importantly than anything else, it gives you the ability to
between those who push through difficult times and those
focus.
who fail and give up - is Passion!
My father was a teacher. Growing up, our basic necessities were always taken care of however my father had to take additional jobs to earn extra money to supplement his teacher’s salary. As I became a business man, I knew that I wanted to ensure I had a career which enabled me to go beyond providing for my family’s basic needs, but to give us a lifestyle where money was not an issue the only way was business but I learned from my father, when you do anything, you have to have passion.
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ACQUISITION NEWS
Algonquin Lakeside Inn by MBE
We are proud to announce another breakthrough for MBE in the hotel industry after the Senator Hotel Timmins. MBE has acquired the Algonquin Lakeside Inn, a beautiful Inn located on the outskirts of Algonquin Park on the shores of Oxtongue Lake, off Route 60. A great location and holiday resort for the entire family that comes complete with activities for family fun and adventure. All of our rooms, including the Honeymoon suites and cottages, are well designed in terms of architecture which complement the beautiful surroundings. The beautiful interior of our Honeymoon suites, not only complement the environment around it but it also makes it a place worth spending time.
MBE
inc.
YOUR SUCCESS IS OUR PASSION
w w w . m b e f o r you. c om w w w . a l go n q uin inn. c o m
TALECH POINT SALE SYSTEMS: An Innovation In POS
Digital Media Deparment MB Enterprises
AN OVERVIEW OF TALECH:
1. Fast Payments- The payments
5. Customer Friendly and User
Talech or point of Sale systems is the
made in the Talech POS are fast
friendly- Payment options are custom-
modern systems for taking payments,
payments mode. High tech systems
er friendly and user friendly, meaning
with Ipad systems as integrated
that are technologically advanced to
the User interface involved in the
hardware. It works with apple IPad
meet the requirements of the custom-
Talech makes it the most user friendly
systems, and for the purpose of taking
ers, have made payment operations
option. Easy to use for the end user.
and accepting card payments.
fast, and rapid.
6. Flexible features for payment
2. Secure Payments- A secure mode
options. - In terms of the flexibility
There are plenty of benefits associat-
of payment, meaning the payments
features, the features are more in
ed with the Talech Point of Sale
are highly secure, and there are no
Numbers than before, and have a
systems. These benefits are due to
chances, or very little chances of
highly flexible attitude. An example is
the mature state of options that are
fraudulent activity.
multiple payment options i.e. more
being integrated with the Talech, as
3. Easy payment options- Payment
than one payment option for a single
modern payments systems. In the
options are easy and simple.
payment, also known as distributed
E-Commerce and retail environment
4. Robust Payments- Robust
payments.
there are huge benefits that it gives to
payments means that the payment
7. Self-service Kiosks- With the
businesses, and works in a unique
options are more trustworthy and have
self-service Kiosks, the payments are
way to acknowledge the future of the
high reliability. The robustness is
through self-service, meaning make
retail environment. Some of the Key
guaranteed for the long run, making
payments yourself, after using the
benefits are;
customer satisfaction a guarantee.
self-service check outs.
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MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
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8. Operations of retail made Fast,
helps in customer’s handy approach
tablets for the POS systems. Also
Secure and Minimum Risks – The
for the Talech POS, and its applica-
used as third party POS hardware,
Talech POS systems has changed the
tions.
use Ipad and App as a mobile register.
key operations in the retail environ-
Ability to create percentage & dollar
The orders are taken with effect on
ment. Now the operations involved are
amount discounts, assigned mainly to
the sales floor, or taking the payments
fast, secure, and risk free. The nature
Hot Keys. This is for the easy access
tableside. They are also used in
of a retail environment is to focus on
to the system for applying the
stationery check out stations or mobile
the activity levels of the operations
discounts, running a promotion or with
checkouts. Additional Ipads are used
involved in a much faster and concise
discounts for repeat customers, or for
as self-service Kiosks, part of the
way.
regular customers.
modern retail POS environment. The
9. Tech POS has most features than
compared to other POS Systems. – In
is a CRM system, for managing all
have many devices that are used for
the Tech POS systems the features
customers with ease, and establishing
the self service options, i.e. a fast,
and highly active, and the characteris-
a relationship which is long lasting
user friendly and safe option. They
tics are more defined as compared to
with the customers. It also impacts the
also have the capability to see sales
other POS systems.
customer list if you are coming from a
ticket or order as you create it. The
different POS system. You will have to
features also includes custom
The benefits associated with the
contact the Firm for the importing of
messaging, and promo information to
Talech POS systems are ‘innumerable’
your list. Also used to view the
the screen. The promo information is a
and makes it highly active in the Point
‘customer metrics’, an e.g. is No. of
feature that enables parallel market-
of Sale systems with huge benefits
days since last visit, or total and avg.
ing, and improves the functionality of
associated for the environment.
spent. More stats that will help the
the POS system.
The easy customer management
customers don’t need anyone, they
retailers in accessing the environment
THE SOFTWARE & KEY FEATURES:
in which the customer is operating,
Yet another key feature of the
Software (Vital Info):
and how the transactions takes place.
hardware systems is the viewing of
Talech POS, uses the best Software
Inventory Management: The
sales data, running the reports, the
with interface usability options. Highly
inventory management feature is one
accomplishment of other tasks, from
sensitive and user friendly interface
of the key features in the POS
anytime and anyplace that you want.
designed for the easy use of employ-
environment of Talech POS. It is in
This also works with the third-party
ees. Provided with manual information
most environment considered as the
Pos hardware. The hardware compati-
of how to operate the software
Talech’s biggest strengths. It has got
bility has taken the POS systems to
professionally. Just computer literacy
the ability to generate Production
new and considerable heights. They
knowledge needed to operate the
Barcodes on PDF. The inventory log
have high degree of compatibility, and
software, as anyone can operate with
tracks production history and perfor-
mainly the reason is IPAD Pos. Why
basic training.
mance. It also generates purchase
compatibility is to such an extent is
orders for the premium members, and
due to the security associated with
Key Features:
has auto generated features, when
Apple IPAD, Apple being a huge
Full or high features available for
the stock reaches a certain level.
market leader in tablets, as compared
Talech on expensive premium POS
Systems such as NCR Silver,
management’, i.e. seating and
Lenovo. Its market leadership brings
highlights the most noteworthy ones
allocations, as well as positioning and
the compatibility to a higher degree,
location finding for seating preferenc-
mainly the reason is that it is technical-
es. A highly productive feature that is
ly sound, and robust in terms of
allows to Split or make partial
vital for the suitability options of the
features as compared to other tablets.
payments, for more than one payment
customers.
For payments, Talech Reg app
For restaurants Tables, ‘Position
methods. This means that if for e.g. a
to other brands like Samsung and
The hardware that is compatible with
customer wants to pay some cash,
POS COMPATIBILITY WITH THE HARDWARE:
Talech is listed below;
and the rest by card, the feature for
The hardware that is compatible with
1. Ipad
split or partial payments comes into
the POS systems is the Ipad POS
2. Payment device to accept card
play. It can be either this, or two
Hardware. Ipads from Apple are the
payments.
payments from two different cards,
devices that are most commonly used
3. Poynt Smart Terminal
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MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
13
4. Miura M10
The features also includes;
Barcode label printing
5. Ingenico IPP320
1. Fixed and variable priced products
Clock in and Timesheets
6. Ingenico ICMP
2. Products with variations
Multiple roles per employee
7. Magtek IDynamo & UDynamo
3. Inventory tracking
Labor cost reporting
8. SumUP Air.
4. Multi-level user access
Automatic discounts
5. Basic order management
Exchanges
Other accessory hardware compatibili-
6. Basic discounts
Store Credit
ty are;
7. Cash drawer management
House Accounts
1. Ipad stands.
8. Customer history tracking
Exchanges
2. Receipt Printers
9. Ability to add customers to orders
Store Credit
3. Kitchen Printers
10. Basic reporting
House Accounts
4. Additional hardware.
11. 24/7 phone and email support.
Automated reports
Reporting insights
THE PRICING MECHANISM FOR TALECH:
The retail starter plan has an addition-
Reporting dashboard
The pricing in the Talech differs as
al feature i.e. “Add customers to
PMIX
and according to the requirement of
orders”.
Timesheet and labor cost
Multi store support
the business. If the business requires the starter plan, you will be introduced
Another plan is an additional plan with
Kiosk mode
the starter plan, and alternatively, if
some additional features and the
Customer facing display
the business requires a standard plan
pricing is higher than the starter plan.
External Integrations
with enhancements in features, the
Obviously, the standard plan holds
Menu upload assistance
client will be provided with the
more options for the businesses. It
standard plan. The starter plan is the
allows the business to have unlimited
The last and final in the Pricing plans
most basic Talech offers, and it is for
employees, unlimited devices, and
is the premium plan.
both the restaurant and retail business-
unlimited products. This is for both
es. The requirements of this plan are
restaurants and retail and the addition-
A PREMIUM PLAN (BEST PACKAGE):
as follows;
al features are as follows;
The last of the Talech plan for pricing
Bundles
is the Premium Plan, i.e. for both
One external Bluetooth device, five
Sell Items by weight
restaurants and retail. It has some
employees and up to 100 products.
Supplier tracking
extra premium features that are higher
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MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
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in pricing, plus the features for both
separately, and that is an additional
starter and standard plan. They are as
cost to the Talech software making it
The Talech POS has incredibly
follows.
expensive, and less affordable for
changed the retail environment, in
• Inventory alerts
most businesses.
terms of the payment processing.
• Purchase orders
Shopping in the retail industry is now
• Inventory log
They have restrictions of online
fast, with secure and easy payment
• Stock take
orders, and the only online capability
methods, and the trust level while
• BOGO discounts
that they offer is online ordering for
using different modes of payments is
restaurants. Limiting the use can be a
higher than before. In Talech, and the
For restaurants
drawback in terms of online functionali-
POS environment, more importance is
• Table management
ties.
given to customers than the retailers,
• Pay by position
customer information is on display in
• Split and merge orders
AN ALTERNATIVE FOR TALECH POS- “CLOVER”:
front of the users of the systems, and
• Coursing
Clover, the company that is responsi-
they can also be made aware of the
• Automatic gratuity
ble for Point of Sale Terminals, a key
different available options. Like for e.g.
requirement for the Small Scale
let’s take an example of the Cinemas,
THE HELP & CUSTOMER SUPPORT:
businesses was acquired by First
the display will show the bird’s eye
24/7 Customer Support is available in
Data. The vision is the phrase ‘focus
view for the positioning of the seats,
Talech Point of Sale system. A highly
on what matters most’, i.e. Processing
and the availability, so that the
acknowledged CRM system, for your
and Solutions of Data for credit card
customer can have their own seat as
best response, feedback and your
payments and online payments
they want, and whoever they prefer to
queries. The customer support given
processing. It has got the vital tech
see the movie with. Similarly, the table
by the company is far and beyond,
ingredients that are needed to take
and position management in the bird’s
especially for businesses using the
small businesses to the next level, i.e.
eye view will help the customer know
POS system for the first time. The
fast and easy payments processing, &
where they exactly want to dine, and
customer support is mainly in terms of
choosing the right hardware for your
how they should be seated in a
usability, payments not going through,
POS systems is the vital element for
restaurant.
card reader not working, and other
your business growth. ‘Clover’ has
issues that relates to helpdesk or
many features that suits the client for
In future, the Talech POS will be seen
customer support.
mainly small scale businesses, also
as the bright light of the POS systems,
suitable because of its features in the
and there will be more advancements
SOME ‘CONS’ RELATED TO TALECH POS:
restaurants and small to medium
and enhancements in the retail
There are some drawbacks that are
sized businesses.
environment. As we start understand-
associated with the Talech POS. The
ing the retail environment we give due
main drawbacks are in terms of
CONCLUSION:
importance to the psychology of the
pricing, as pricing differs considerably,
Talech POS, is a full detailed POS
customers. More research and
as the features changes. Talech prices
system for retail and restaurants. It is
advancement is made regards to the
are relatively on the high end,
possible in future that new features
Self-service Kiosks, as human
especially when we compare them to
will soon be added over time, as the
interaction has been minimized
the alternative POS system that are
development is consistent and is
through the incredible revolution in
available in the industry. Clover is
backed up by professionals that are
self-service Kiosks. The main aim
relatively cheaper POS software for
trained to enhance the developments.
behind the advancements in POS
approximately the same functionali-
The Talech POS is also highly
technology has been to minimize the
ties.
applicable in the Cinemas, used for
level of risks associated with the use
the positioning, and for a proper
of incredible POS like Talech POS.
Another drawbacks that makes Talech
cinematic environment. In retail its
This technological breakthrough has
POS an edge in the POS environment
activity level is based in the shopping
been highly achieved with success
is the use of IPad only. The utilization
especially for the purpose of knowing
considering the fraudulent activity that
of Ipad is necessary as compatibility
the knowledge of products, and its
has been minimized with the passage
with other tablets is not there. All the
analysis with other products, e.g.
of time.
hardware must be purchased
Clothing industry.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
15
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2019
Northern Ontario Tourism Summit 2019: A Summit Taking Place In Senator Hotel Timmins Digital Media Deparment MB Enterprises
INTRODUCTION:
ous opportunities for networking
Timmins Mayor George Pirie highly
Building on 80 + years of successful
including a trade show of product and
acknowledged the efforts recently in
fall conferences for the outfitting
service providers to the tourism
recognition to the support during the
sector, the Northern Ontario Tourism
industry.
Kashechewan evacuation. Senator hotel is chosen because of its
Summit was developed as a partnership event between Nature and
The Northern Ontario Tourism
previous track record, and there are
Outdoor Tourism Ontario (NOTO) and
Summit (NOTS) is quickly becoming
high hopes with the summit, while
Destination Northern Ontario (DNO)
a pivotal platform for the advance-
evaluating the key agendas.
to bring together tourism businesses,
ment of the tourism industry in
Equipped with rooms that acknowl-
organizations and suppliers as well
Northern Ontario. Since its inception,
edges the value of such an event,
as all levels of government at a single
this event has sold out with over 325
and honors the pride of hosting it for
event to find solutions to challenges
delegates each year. We look forward
the first time. The conference Centre,
facing the industry.
to new partnerships and exciting
a highly enriched facility to host the
developments for 2019
valuable Summit and facilitating hundreds of people in the newly
The agenda for this one-of-a-kind
THE HOST HOTEL - SENATOR HOTEL (TIMMINS):
renovated rooms and suites. Senator
includes training workshops, information sessions, and innovative problem
The senator Hotel in Timmins will be
can host conferences that are global
solving workshops, a range of
the host of the Tourism Summit taking
in nature with immense success,
keynote speakers as well as numer-
place in November 2019. The City of
recognitions and acknowledgement.
Northern Ontario tourism event
W W W. M B E F O RYOU. C O M
Hotel has proved in the past that it
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
17
One of the key acknowledgements it holds is the recent certificate of acknowledgement of efforts during the Kashechewan evacuation by Mayor of Timmins. It will be a huge opportunity for the Senator Hotel to be a connection point for organizers, industry professionals and business owners & sharing of information. The attractions in the nearby are simply worth the Tourism Summit i.e. taking place for the purpose of promoting the Tourism industry. Northern Ontario is highly blessed to have Timmins as one of its cities with all the attributes that are global, and holds vital elements of Tourism. The tourism industry is one of the most profit generating industry in Canada, and activities in this regards takes place annually in Ontario. The organizers of such an event are always active for the success of the event, and their immense efforts has improved tourism in Northern Ontario.
CONTACT INFO: Website: www.senatorhoteltimmins.ca/ Address: 14 Mountjoy St S, Timmins, ON P4N 1S4, Canada
Facebook: @TheSenatorHotelTimmins Email: info@mbeforyou.com Phone: 1 705-267-6211
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W W W. M B E F O RYOU. C O M
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OCTOBER - NOVEMBER
EVENT 2019 CALENDAR OCT 9
WEDNESDAY
Yom Kippur in Canada
OCT 14
MONDAY
Thanksgiving Day in Canada
Yom Kippur is a Jewish holiday known as the Day of Atonement. Many Canadians of Jewish faith in Canada spend the day fasting and praying. Its theme centers on atonement and repentance. Yom Kippur is on the 10th day of the month of Tishrei (or Tishri) in the Jewish calendar.
Thanksgiving Day in Canada has been a holiday on the second Monday of October since 1957. It is a chance for people to give thanks for a good harvest and other fortunes in the past year.
OCT 18
FRIDAY
Healthcare Aide Day in Canada Healthcare Aide Day is not a public holiday. Businesses have normal opening hours.
OCT 20
SUNDAY
Hoshana Rabbah in Canada
OCT 21
MONDAY
Shemini Atzeret in Canada
Many Jewish people in Canada mark Hoshana Rabbah (or Hoshana Raba) as the last day of Sukkot (Succot, Succoth, Sukkoth) in their calendars. This day is the end of the Sukkot period, also known as the Feast of Tabernacles. The Sukkot festival is observed during the week starting on 15th day of Tishri (or Tishrei), which is the first month of the year in the Jewish calendar.
Many Jewish communities in Canada celebrate Shemini Atzeret (or Shmini Atzeret) and Simchat Torah. Shemini Atzeret is a Jewish holiday dedicated to the love of God. Simchat Torah marks the end of the Sukkot (or Sukkoth) festival.
20
OCT 31
THURSDAY
Halloween in Canada
NOV 2
SATURDAY
All Souls' Day in Canada
Halloween is celebrated in Canada on or around October 31. It is a day to mark the single night in the year when, according to old Celtic beliefs, spirits and the dead can cross over into the world of the living. Some people hold parties and children may trick-or-treat in their neighborhood.
All Souls’ Day is a day of alms giving and prayers for the dead. The intent is for the living to assist those in purgatory. Many western churches annually observe All Souls’ Day on November 2 and many eastern churches celebrate it prior to Lent and the day before Pentecost.
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
NOV 3
Clock Changes in Ottawa, Ontario, Canada
SUNDAY
Sunrise and sunset will be about 1 hour earlier on 3 Nov 2019 than the day before. Hallows' Day.
NOV 11
MONDAY
Remembrance Day in Canada Remembrance Day commemorates the sacrifices of people in all armed conflicts.
CROSSWORD PUZZLE SOLUTION
MONTH AUG - SEP
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
E P E E
E S A I
K E R N
R E N E E
D D D E R
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
21
3 Common Small Business Myths Debunked
SALESFORCE ESSENTIALS www.smallbiztrends.com
Small and medium businesses
eye on their budgets, but they also
wanted to be their own boss and/or
(SMBs) have a reputation for being
understand that an investment in
have a more flexible work schedule.
capable and dedicated, two
quality technology can deliver
As a group, founders and entrepre-
sentiments my team and I have
significant time savings.
neurs tend to be idealists with
definitely found to be true. But we had
motivations that go beyond making a
some questions about a few of the
Research shows that growing SMBs
profit — leaving money as the icing,
other descriptors we’ve heard — and
are especially focused on plans for
not the cake.
thanks to data from the latest Small
business-scaling technology like CRM
and Medium Business Trends Report
and financial software — and that
by Salesforce Research, we can
price is actually less important to them
Myth: Small Businesses Aren’t Ready For Advanced Technology
officially clear up some of those
than finding software that’s easy to
REALITY: Not true! More and more small
rumors. Here are three common
use and from a reliable vendor.
businesses are realizing the benefits
misconceptions about small business-
of advanced technology like artificial
es, along with the data-backed truth.
intelligence (AI) — and many savvy
Myth: The Main Reason Small Business Owners Started A Company Is To Make Money
small businesses are already using
Myth: Small Businesses Don’t Have The Budget For Best-in-class Technology REALITY: Small businesses are willing to
REALITY: While money can be a factor,
customers and grow.
spend the money if the software
of course, data show that most small
delivers value. Sure, small businesses
business founders (55%) actually
and startups have to keep an eagle
started their businesses because they
22
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
things like chatbots, automation, and predictive forecasting to connect with
W W W. M B E F O RYOU. C O M
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The Three Challenges For Canadian Retailers In 2019 LIZ TEODORINI Marketing Director- iCapital Financial Services Inc.
THE THREE CHALLENGES FOR CANADIAN RETAILERS IN 2019 If you’re a retailer in Canada, chances are you’ve got a lot on your mind. Retail is a competitive and fickle industry, a full-time project with its own challenges and rewards. We looked at the current business landscape to gather insight on what keeps Canadian retailers up at night—and to propose some solutions to your most pressing problems. From cash flow to slow sales to the constant pressures of emerging tech, we’ve got tips and strategies to help you meet your business goals.
ABOUT THE MARKET RESEARCH STUDY Financial services provider iCapital was curious to better understand the challenges Canadian retailers face, so they enlisted the help of Canadian B2B marketing experts Hop Skip Marketing this June to conduct a market research study on the topic. The study was targeted to small business owners or operators across Canada. They received 160 responses from across various industries, with 11% of respondents describing their business as “Retail & Wholesale”. 83% indicated that their business was less than five years old. Participants were in every province except Quebec, with the majority of respondents from Ontario (50%), British Columbia (22%), and Alberta (12%).
CHALLENGE #1: HOW DO WE SUSTAIN OR GROW THE BUSINESS DURING LONG PERIODS OF LOW SALES? Every industry has its ups and downs and no business is immune, but for new or small retailers low sales can be a really difficult challenge to face. In fact, a full 41% of our respondents indicated that this was their most pressing concern. Periods of low sales, especially if they’re protracted, can be extremely stressful and affect self-confidence in addition to your bottom line.
41% of our respondents reported long periods of low sales as the largest chal24
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
lenge for new or small businesses Sales ebbs and flows, and no amount of planning will change that but there are steps you can take to minimize slow period—and having a solid sales and marketing strategy is key. Unfortunately, many Canadian small businesses have neither a dedicated sales (74%) nor marketing (87%) employee. This is a missed opportunity. Even if you can’t justify full-time help in these departments, it pays to employ experts to create an effective digital presence, to generate interest in your products or services, and to strategize about how to lead your prospects down the sales funnel. Remember that social media is a cost-effective way to reach your customers, and perfect for generating buzz. If you’re not sure what kinds of campaigns work best, start by listening to your customers. Feedback forms, emails, and posts on social platforms will give you insight into what you are doing right—and what may need work. Start a dialogue, offer value, and show your customers that you appreciate them. Your investment will pay off with shorter periods of slow sales.
CHALLENGE #2: WHAT IS THE BEST COURSE OF ACTION TO HANDLE CASH FLOW CHALLENGES? Cash flow refers to the money coming in and going out of your business, and for retailers it can be a persistent issue. For everyday bills to upgrades to unexpected expenses, retailers need access to their money.
29% of respondents ranked managing cash flow as a top challenge for their business Handling cash flow isn’t complicated but it can be time-consuming. Budget in realistic hours to monitor your finances. You can’t manage your cash flow if you have no idea what W W W. M B E F O RYOU. C O M
your financial picture is. Use accounting software and set
your customer service to your daily operations, not to mention
aside time regularly to check in on your accounts. Be
that dated systems tend to break down. If you’re going to
strategic in your purchasing. If you can avoid buying all you
remain competitive you’ll have to ensure you stay up-to-date
merchandise at once, you can keep some cash in your
with technology and innovation, developments like online
coffers. Looking at overhead costs (and making changes
reviews, mobile wallet, self-checkout, and e-commerce sites.
where possible) can save you bundles. And remember, when
It’s helpful if you have access to expert advice in these areas,
all is said and done, there are business financing options like
but if not, you can get a head start by joining relevant online
term loans to help you meet immediate needs.
groups or subscribing to newsletters. Or, you can get even more hands-on and attend industry events and conferences.
CHALLENGE #3: HOW TO KEEP UP WITH THE CHANGES IN TECHNOLOGY AND
Whatever you decide on, make sure you stay engaged.
INNOVATION Retailers have so much to manage that new technologies and
Canadian retailers have a lot to handle, with sales, cash flow,
innovations tend to rest on the back-burner. The problem is, if
and emerging tech and innovation topping the list. The good
you fall too behind it can negatively affect your business.
news in all these cases is that strategies exist. Whether you choose to take these challenges on yourself or hire help,
“Slightly more than half of respondents have a concern about new tech and innovation”
there are ways to make sure you and your business remain top-of-mind, relevant, and solvent.
Nearly 20 million Canadians shop online, where they’re on target to spend $39 billion in 2019. This is nearly double the 2016 numbers. As a retailer, you simply can’t afford to fall behind. Advances in technology can affect everything from
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
25
Kiefer Sutherland Promises Make-up Concerts After Injury On Tour
THE CANADIAN PRESS
“I promise to be more careful walking downstairs on a moving bus!' star quips online�
Kiefer Sutherland is promising fans
more album, Reckless & Me.
he'll make up some of the tour dates
The 52-year-old Golden Globe winner
he had to cancel in Denmark and
recently toured Canada and the U.S.
Sweden due to injury.
for the album, which includes some
The Toronto-raised actor-singer
personal songs about his life.
posted on his Instagram account that he slipped on the steps of his tour bus
"Thank you all for your incredible
and seriously injured a rib while
kindness and support," Sutherland
travelling to Denmark recently.
posted on his Instagram account
He said the injury made "it difficult to
Sunday, along with a GIF of a cat
breathe and impossible to sing,"
falling down the stairs.
forcing him to cancel the last three
"We'll be back on the road before you
shows of the tour.
know it... and I promise to be more
Sutherland added he has "every
careful walking downstairs on a
intention of making up these shows ...
moving bus!"
in September/October" and Kiefer Sutherland is promising fans
apologized for any inconvenience he
he'll make up some of his tour dates
may have caused to fans who had
he's been forced to cancel in Denmark
bought tickets.
and Sweden after after he slipped on
The 24 and Designated Survivor star
the steps of his tour bus and injured
has been touring the U.K. and Europe
his ribs.
in support of his country-rock sopho-
26
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
CROSSWORD PUZZLE
MORE THAN A DEMITASSE ACROSS 1 Gangland chief or guitar clamp 5 Four time Grammy-winner for Best New Age Album 9 Oohed’s parter 14 Arabian Peninsula country 15 Horse of a certain color l6 Jalopy 17 First animals, in a way 19 Hear line 20 Voilent Struggles 21 Like some names 23 Before: Prefix 24 Exclamations of annoyance 25 Paparazzi‘s prey, briefly 28 Ranch newborn 29 50+ lobbying grp. 33 “To Autumn,” e.g. 34 Home to Honolulu 36 Many I.M. recipients 38 Opposite of military: Abbr. 39 Swedish-made vehicle said to be “Born from jets” 41 F.I.C.A funds it 42 “Hold on” 44 Coal unit 45 “The Addams Family” cousin 46 Swiss river 47 Part of E.M.T. 49 Jewish circle dance 51 Atlanta-based airline 53 Major Asian carrier, for short 54 Explorer who named Louisiana 57 Some small drawers 61 “Lemme ___ here!” 62 Historic African region divided in 1994 65 Salad oil holder 70 Refer to as an example DOWN 1 Paint layer 2 Chinese nurse 3 Catherine who outlived Henry VIII
1
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High Expunge Hide-hair link Tibetan grazer Actor Micheal who portrayed Chochise in 1950s TV 9 “...with ___of thousands...” (Hollywood hype) 10 Titillation 11 Do damage to 12 Diminutive suffix 13 Word before on or wrong 18 Wordy 22 Muslim’s respectful bow
63
58
64
24 Shallow cup...or an apt alternative title for this puzzle 25 Drink served with whipped cream 26 Minneapolis suburb 27 ___Brothers (Caress, Dove and Lifebuoy makers) 28 Mortgage org. 30 Race of Norse gods 31 B. & O. stop: Abbr. 32 Jr.-year exams 35 It could make a Walkman run beginning in 1989 37 Oliver Twist, and others
40 43 48 50 52 53 54 55 56 58 60 63 64
Mongrel Tranquilized Ital. erupter Historic London theater Fill with joy Post-coup crew “Livin’ la Vida ___” A 25 Across may have one Flabbergast “___Said” (Neil Diamond hit) Gin flavorer Juan Carlos, e.g. Rock’s ___Rose
See previous issue answers on page # 21 W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
27
Horoscope for OCT-NOV 2019 LIBRA - SCORPIO LIBRA General: The very core of who you are and where you came from is going to be your chief concern at the beginning of the year. It's entirely possible that there is a family emergency or problem you have to solve. It's more likely, however, that this problem is internal. You want to stop being like whomever you were when you were younger. You want to silence the inner critics - especially if your inner critic sounds a lot like one of your parents or an authority figure from your youth.
Love The permanence of your love relationships and how stable they are is going to be a major issue in the first four months of the year. Your relationships will be tested, and you'll have to figure out how to change and get over your fears or deal with the same old crap when it comes around again in the mid-spring.
28
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
For the next four months of the year,
Through spring and summer, be on
you're going to be more concerned
the lookout for any opportunities to
with how your relationships fit into
make more money. You may not
your plans for your life, your ambition,
make bank right away, and this
hopes, and dreams. By the end of the
probably won't be your intention
summer, your relationships, particular-
anyway: you don't want money so
ly romantic ones, may make or break
much as you want wealth and the
you. Be on the lookout for anyone
power and freedom it brings. It can
who needs to be saved, as you may
certainly help you make your dreams
confuse love and sympathy during
come true and help you help others.
late summer and early fall. This is a
This is what is most appealing, and
time where you're prone to being the
the attitude you need in order to
one who is either always giving or
make wealth come to you.
always taking.
Career Money
Your career is going to rely a lot on
You may have to lean on your family
your past reputation, your past work,
for support during winter or cash in a
and the favors others may owe you. If
nest egg. If you can't do either of
you're ashamed or shy about asking
those things, then you may have to
for help, you'll get none. The first
figure out a way to pare down and
quarter of the year may be financed
only finance what is absolutely
by you cashing in on good will and
important. You don't want to do this.
not on anything amazing you might
You would rather someone else take
do. This is okay.
care of this for you. Through spring, you'll change the
W W W. M B E F O RYOU. C O M
way you invest your time and resourc-
every day may take your fancy.
have no intention to keep.
es, which will affect the way you go
Granted, it may just be a very long
Your money is going to come from
about your career. No longer will you
flirtation or an online romance where
others. Crowd funding, social sources,
simply work and wait to be noticed.
you mostly talk, but this really satisfies
non-profits, etc. This doesn't mean
You're also going to be less inclined to
a part of you that feels unnoticed and
that you'll be living off charity. In fact,
sell your labor to the highest bidder. It
unappreciated.
you may be just fine, financially
may feel more right to focus your
speaking. However, your money is
efforts on elevating others and helping
By mid-spring, your closest relation-
likely to come from other people or
them se why they're worth time and
ships may change suddenly and
through them. Working with others,
attention. If you already work with
dramatically. Something you thought
teaching others, investing with others
people, this is great. If not, you may
was stable may suddenly end, and
is how you'll make wealth. This is not
consider a career shift.
something that you thought was
a good time to go solo and freelancer
fantastic suddenly goes sour or stale.
or to live off your savings. This is a
You and your partners may suddenly
time for figuring out how to combine
General: If you have felt disconnected
change your minds about each other.
your skills with those of others in
from the people around you, or if you
If you meet someone new, they come
order to make wealth.
feel as if everyone is moving faster
into your life rather suddenly, but they
than you are or that they're talking
may not be marriage material or even
Career
smack about you, I have some bad
long-term material. This is just as well,
Your focus is going stay on your
news: 2019 will begin with you feeling
as they may shock you with their
career. You may have made changes,
that way. It's entirely possible that
beliefs, behaviors, or attitudes once
or were forced to make changes. It
you're right. It's also entirely possible
you get to know them.
feels a lot better to make the change
SCORPIO
that you blow things up to be bigger
than it does to try to be content with
than they actually are. The good news
Money
your current place. In the first quarter
is that now you'll have the confidence
Asking around for work or a better job
of the year, you have the motivation to
to confront or ignore the people you
is likely to net results, even if you're
make a change.
think are harming you.
met with resistance first. Yes, someone may be jealous of you, and
Your career is still going to very
Love
you may find out when someone
important to you in the spring and
If you're single, someone you see
makes a promise to you that they
summer, and by the end of summer.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
29
Start-up Ideas To Consider For 2019 www.futurpreneur.ca When you are tired of being a simple
store and you can save considerable
improve their skills, or even open an
employee, you start to think about
sums of money by not paying rent
educational Centre.
opening your own business, and this
and salaries to a big staff of employ-
decision may lead you to success. In
ees as you can do that job at home
What’s great about this startup is that
fact, there are many industries in
yourself, at least at the start.
your services can remain demanded
Canada where you can succeed as
for many years. If you are a lifetime
an entrepreneur. The most important
The other question is what to sell. You
learner and constantly develop and
thing is choosing the right one for
may hold the research and find out
update your skills, you will be able to
you, which will fit your skills and
what goods are in demand. For
earn good money for your pieces of
opportunities.
instance, gadgets and clothes are
advice, which will be always be up to
always sold well. Or, you can turn
date.
If 2019 is the year you decide to take
your hobby into business. For
the first step into entrepreneurship,
instance, if you like collecting posters,
Repair Services
here are 4 startup ideas to consider
you may open an online poster store.
If you have a talent of repairing things, this skill may bring you good
when planning and exploring your small business options!
Professional Advice Services
money. Repairing services are always
If you are a specialist in a certain
in demand as well as skillful people,
Online Store
sphere, like accounting, manage-
who can provide them. You can start
Online shopping gets more and more
ment, marketing or something else,
such a business alone and later start
popular every year. That’s why, you
you can earn money on your knowl-
to hire other employees.
can also try selling goods online.
edge and experience. You may
Online business demands less
consult business owners, organize
Of course, the choice of specializa-
investment that a brick-and-mortar
classes, which will help others to
tion depends on your skills. If you
30
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
know much about vehicles, you can open a car repairing service. Maybe, it’s the most profitable business in repair sphere. Or, you can also repair computers, phones, household appliances and other gadgets. Also, a good idea is to repair professional equipment. Event Planning Event planning is one more type of business, which can be started without much money investment. Of course, in order to organize events, you need to be a calm and organized person. You can try to do this job alone and make agreements with freelance employees. Or, you can gather your own team. The latter variant may lead to better results and more profit. You can start with organizing small events, like children’s birthdays or hen parties. After that, you can go to more large-scale events like weddings or corporate parties. Of course, you need to choose the specialization of your business, depending on your skills and interests. In Canada, there are many opportunities for developing business. You just need to choose the right sphere and have a strategy to be succeed in your venture.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
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A Day in the Life: Building a Bright Future Franchise Canada When Arturo Ortiz first met Hickory
I could make sales, all I really needed
and developing a plan to put their
Dickory Decks owner Tom Jacques,
was a good builder to get the jobs
dream backyard together.
one of the first things the prospective
done.” Ortiz says.
franchisee mentioned was his lack of
In Southern Ontario, selling season
building experience. Prior to research-
The vote of confidence in his abilities
ramps up in late March and April, as
ing franchise opportunities, Ortiz had
was enough for Ortiz to take the leap
clients eager for warmer weather
spent the eight years working for a
into small business ownership. In
start envisioning their summer plans
hospitality chain in Toronto.
2016 he opened the location in
relaxing and firing up the barbecue in
Barrie, Ontario. Today the franchisee
their backyards. Building the decks
With virtually no knowledge on decks
is taking his services across Ontario’s
occurs in the following months, and
or construction. Ortiz says he didn’t
cottage country as he serves the
Ortiz can spend the remainder of the
know the difference between an inch
Barrie and Innisfil communities,
year planning for the next busy
and a millimeter, he was wary to join
giving prospective franchisees a little
season.
the Hickory Dickory Decks team. The
something to believe in along the
company which was founded in 1987,
way.
had established itself as a leader in
“My days are flexible, I can come home for lunch, pick my daughter up
custom deck design and building, and
Change for the better
from school, and be home for dinner.”
currently operates in over 65 cities
If Ortiz could use one word to
Ortiz says.
across Canada and the United
describe his life as a Hickory Dickory
States. Ortiz says his inexperience
Decks franchisee, it’s “simple.” Since
Though the flexibility of setting his
was something Jacques had encoun-
joining the franchise, his priority has
own schedule is a benefit of being a
tered many times before when
always been to spread the word
small business owner, the change
welcoming new franchisees to the
about his business and make sales.
took some getting used to. Ortiz’s
team.
The hours he works on any given day
pre-franchisee lifestyle saw him
will vary, but typically, days consist of
working Monday to Friday, with days
finding clients, going to their homes,
beginning at 9:00 a.m. and ending at
“He told me it didn’t matter as long as
34
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
5:00 p.m. Back then, he says days were never that simple. “I came from a world where I was responding to 100 emails, answering 50 phone calls, and completing tasks for my managers on a daily basis. It was all about working fast and getting results for management. Coming to a franchise, there is a different mentality.” This new mentality means moving at a much slower speed, expecting delays, and embracing the challenge when things go awry. Typical of any company in the building business, delays are common, and Ortiz says he has had to adjust the speed at which he works to match that of his clients and builders. Head office encourages franchise partners to reach out to them if they have any questions or concerns. Moreover, Ortiz says that if he ever needs extra help in getting carpenters to help build his clients’ decks, his fellow franchisees are always willing and available to pitch in. The franchise support has turned out to be a valuable asset for Ortiz, who says finding carpenters and builders to execute his projects is one of the most challenging aspects of being a franchisee with Hickory Dickory Decks. Once you hire the right crew to join your team, it’s easy to get into a good routine where the franchisee focuses on the selling and the carpenters focus on the building. Of course, being able to work with all types of personalities is also key to finding success in the franchise. “You definitely need to be a people person,” Ortiz says. Being a good listener and being friendly are important for any franchisee. “For me, it worked out perfectly because I like talking and meeting new people every day.” The future looks bright for Ortiz, who is excited to grow his presence in Barrie, Innisfil, and the surrounding area with a target to sell $500,000 by the end of the year. “You just have to believe in yourself and the product. I’m busy, my builder is busy, and we’re both making money!” W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
35
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MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
37
JIM PATTISON
THE CANADIAN “WARREN BUFFET”
38
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
James Allen Pattison born October 1, 1928 is a Canadian
of publicly-traded forest products company Canfor. His
business magnate, investor and philanthropist. He is based in
entertainment division includes Great Wolf Lodge, Guinness
Vancouver, British Columbia, where he holds the position of
World Records and the Ripley's Believe It Or Not! chain.
chief executive officer, chairman and sole owner of the Jim Pattison Group, Canada's second largest privately-held
Jim Pattison, who has a reported net worth of $5.9 billion,
company, with more than 45,000 employees worldwide, and
has been called "Canada's Warren Buffett." Like Buffett,
annual sales of $10.1 billion. The Group is active in 25
Pattison is the third-richest person in his country, is relatively
divisions, according to Forbes, including packaging, food,
frugal, and donates heavily to philanthropy.
forestry products. But Pattison can also be a little lavish — he owns a $25 In 2015, he was considered to be Canada's fourth richest
million yacht and a fleet of jets. Warren Buffett has plenty of
person. Pattison is often referred to as "Canada’s Warren
billionaire peers, but it's easy to see why Jim Pattison has
Buffett". According to Forbes, Pattison's net worth in late 2018
been dubbed this Canadian counterpart. Known as "Cana-
was $5.7 billion, having increased substantially from the $2.1
da's Warren Buffett," Pattison, 90, has a net worth of $5.9
billion reported in March 2009. At the time, he was described
billion, according to Forbes. It may not even graze Buffett's
as Canada's third richest man by Bloomberg News.
$80 billion net worth, but it ranks him as the third-richest man in Canada — equivalent to Buffett's seat as the third-richest
Pattison was inducted into Canada's Walk of Fame in
man in America.
December 2018, having previously been appointed to the Order of Canada in 1987, and the Order of British Columbia
Also like Buffett, Pattinson is relatively frugal. Born during the
in 1990 and receiving the Governor General’s Commemora-
Great Depression, he had humble beginnings that stuck with
tive Medal for the 125th Anniversary in Canada.
him even as he created and developed a giant conglomerate, The Jim Pattison Group, of 200-plus companies worth more
Other recognition included being inducted into the Canadian
than $7 billion today. He also donates heavily to philanthropy.
Business Hall of Fame and the Canadian Professional Sales Association Hall of Fame, as well as Entrepreneur of the Year
But that doesn't mean he doesn't indulge in a few lavish
– Lifetime Achievement Award (2000), the International
purchases. While he might have a Toyota truck parked in his
Horatio Alger Award (U.S.A., 2004), and the Young Presidents
garage, he also has a $25 million yacht docked not far away.
Organization Canadian Icon Award (2007). But Pattison wasn't always worth billions — his net worth is
His Story
even more impressive considering his beginnings. He was
Ninety years ago today, Jimmy Pattison, one of Canada’s
born during the Great Depression and grew up poor, wearing
most successful entrepreneurs, was born in Saskatchewan.
hand-me-downs and living in "Vancouver's gritty east side."
He was still young when his family moved to Vancouver where he has resided ever since. His company, The Jim
Pattison began practicing the art of business at age 7, selling
Pattison Group, is the second largest privately held company
seeds door-to-door. He eventually progressed to selling
in Canada. The company has 45,000 employees and last year
newspapers and playing trumpet at church picnics.
had $10 billion in revenue. “I have fun going to work every day,” Pattison says. “Everybody’s different, I prefer going to
In 1961, Pattison bought a GM dealership with a C$40,000
work. I like what I do and so I just keep doing it.” That work
Royal Bank of Canada loan — he still has the financial
ethic has been with him his entire life. “I started working when
statements. It was the beginning of The Jim Pattison Group, a
I was seven years old, selling garden seeds,” he said.
conglomerate of more than 200 companies across 85 countries that generates C$10.1 billion in annual sales (US
Growing up during the Great Depression, Pattison’s family
$7.75 billion).
struggled to make ends meet. “I had the best parents you could ever get, but the only thing we didn’t have was money,”
It spans a variety of industries, including packaging, food,
he said.
lumber, fisheries, billboards, and entertainment, a division that includes Great World Lodge, Guinness World Records,
Jim Pattison oversees a sprawling group that operates 25
and the Ripley's “Believe It Or Not!” chain.
divisions including packaging, food and entertainment. Pattison's first business was a GM dealership he bought in
Pattison also controls more than 40% of Canfor, a public-
1961. The Canadian billionaire also controls more than 40%
ly-traded forest products company, and has a big stake in
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
39
Westshore Terminals Investment Corp., a coal export facility.
Pattison is also known for investing in memorabilia. In 1985,
His latest venture is Pattison Agriculture, comprised of John
he bought a Rolls Royce once owned by John Lennon for
Deere equipment dealerships.
C$2.3 million (US$1.74 million). At the time, it was the world's most expensive used car. He later donated it to a museum.
With such a hefty fortune from his business successes, Pattison seems to have mastered the balance of frugality and
He paid US$5 million for the gown Marilyn Monroe wore in
lavish spending. He stays on the down low, but knows how to
1962 while singing "Happy Birthday" to then-President John
indulge. "Most of the time, I didn't have the money to buy
F. Kennedy. Displayed in Ripley's venues across North
anything that was any good, so I had to buy stuff that nobody
America, the publicity has generated a lot of money for the
wanted," Pattison told Bloomberg. But Pattison doesn't always
company.
get around so casually — he also owns five jets, including a Dassault Falcon 900 that seats up to 19 people. However,
Pattison is also generous. His charitable foundation, The Jim
they're all used for business.
Pattison Foundation, donated $12.5 million in 2016. Pattison has a history of donating to Canada's healthcare system —
By water, he gets around on his $25 million, 150-foot yacht
he's given away more than $35 million to various hospitals
Nova Spirit. Princess Diana and Oprah have both been on
including Vancouver General Hospital, Lions Gate Hospital,
board.
Surrey Memorial Hospital, and Victoria's Royal Jubilee Hospital. And in 2017, he donated $75 million to St. Paul's
And like many billionaires, Pattison also has an extensive
Hospital Foundation to build the Jim Pattison Medical Centre.
real-estate portfolio, which includes an office condo in Vancouver and a property in Palm Springs previously owned
As he once said, "I was always brought up to give up 10% of
by Frank Sinatra.
what I made, and I always have."
When asked by a Bloomberg reporter whether he takes vacations, Pattison replied, "Well, I get 365 days ... If you like your work, it's not work."
40
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
Profile for Politician
Justin Trudeau
The Liberal Party
Personal: Full Name: Justin Pierre James Trudeau Date of Birth: December 25, 1971 Education: Trudeau studied literature at McGill University, graduating with a Bachelor of Art in 1994. Not long after, Trudeau completed the University of British Columbia’s education program, and spent several years teaching French, math, and other subjects in Vancouver, BC. Spouse: Sophie Grégoire, a former Québécois TV and radio host Children: Xavier, Ella-Grace, and Hadrien Trudeau Contribution/ Career: Justin Trudeau is currently the 23rd Prime Minister of Canada, leads the nation’s Liberal Party, and also serves as the Minister of Youth Constituency: Papineau, Quebec
Platform • Infrastructure Plan: Quadrupling Federal investment in Public transit Providing almost $20 billion over the course of 10 years for social infrastructure- i.e affordable housing, child care spaces, seniors facilities, community centres Investing nearly $20 billion over the course of 10 years in greener infrastructure, creating greener energy, cleaner land, and more jobs for the Canadian people Investing an additional $100 million each year in the Industrial Research Assistance program proven to aid smalland medium- sized businesses to innovate and become world leaders • Creating jobs in all sectors along with helping those currently struggling to improve their skills and upgrade their credentials by investing $500 million more each year towards the provincial and territorial Labour Market Development Agreement and helping those not who do not qualify for employment insurance by investing $200 million in training programs led by the provinces and territories. • Making home care more available to those in need, prescription drugs more affordable and mental health more accessible. • Ensuring transparency in government and fair elections • Restoring fair and balanced labour laws that acknowledge the important role of unions in Canada; • And promoting both national and international peace and security by renewing Canada’s commitment to peacekeeping operations and tightening firearm laws W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
41
Profile for Politician
Andrew Scheer The Conservative Party
Personal: Full Name: Andrew James Scheer Date of Birth: May 20, 1979 Education: Scheer studied history and politics at the University of Ottawa, and later worked as an insurance broker before being elected as a Member of Parliament for the Conservatives in the riding of Regina at the age of 25 Spouse: Jill Ryan Children: Thomas, Grace, Madeline, Henry, Mary Contribution/ Career: Scheer has served as the leader of the Conservative Party since May, 2017. Constituency: Regina- Qu’Appelle
Platform • Scheer aims to balance the federal budget within two years of the 2019 Election Expresses support for free markets, and advocating for strictly Canadian-sourced, ethically produced oil • Pledged to repeal carbon tax in order to provide a tax cut for large businesses • Soften gun restrictions, repealing the Liberal bill C-71 which bans handguns • Prioritizes helping refugees considered most vulnerable, primarily religious minorities like Christians in the Middle East • Providing funding for universities that further the right wing, pro-life message of the Tories
42
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
Profile for Politician
Jagmeet Singh
The New Democratic Party
Personal: Full Name: Jagmeet Singh Jimmy Dhaliwal Date of Birth: January 2, 1979 Education: Singh obtained a Bachelor of Science from University of Western and a Bachelor of Laws degree from Osgoode Hall of York University. Prior to his endeavours in politics as a Member of Parliament, Singh served as a criminal defence lawyer and a human rights activist Spouse: Gurkiran Kaur Sidhu, a fashion designer and humanitarian Contribution/ Career: Singh has served as the leader of the New Democratic Party since October, 2017 Constituency: Bramalea- Gore- Malton
Platform • Expand universal pharmacare • Boost government revenues, fight money laundering schemes, and cool down overheated housing markets. • Equitably fund health education and other services in Indigenous communities • Cap and reduce tuition fees and student loan interest with the eventual goal of free post-secondary education • Ban unpaid internships • Introduce federal incentives for zero-emissions automobiles and prioritize cars made in Canada • Invest $1 billion in affordable childcare in 2020 • Revitalize industries such as forestry, fisheries, and agriculture • Put a cap price on cellphone and internet bills, and introduce a telecommunications bill of rights • Raise corporate tax, end fossil fuel subsidies, and close tax loopholes • Introduce a ‘Wealth Tax” of 1% on the wealthiest Canadians- those earning over $20 million annually • Create an affordable housing plan that includes construction of more low-cost and co-operative housing across the country.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
43
Disney Plus Streaming Service To Launch In Canada Mid-november The Canadian Press The Streaming Service Will Cost Canadian Residents $8.99 Per Month
The company says Disney Plus will
to shave the cord — or cut the cord
cost $8.99 per month, or $89.99 per
for that matter — over and above the
year, when the service launches on
intentions they might've had prior to
Nov. 12.
Disney."
Disney ended its licensing relation-
Even though the platform will not
While the Canadian streaming video
ship with Netflix and began pulling
launch here as a bundle deal — in
market has been competitive for
some of its content from the service.
the United States, the service will be
years, with Netflix as the dominant
(Richard Drew/Associated Press)
packaged at a discount with Hulu and
player and Bell Media's Crave and
ESPN — there's still plenty of
Amazon Prime Video also in the mix,
The Walt Disney Company is
programming that could entice
the arrival of Disney will be unprece-
swooping into the Canadian market
Canadian households, in particular
dented.
with its powerful new streaming
families with kids.
The upcoming launch comes after
The company owns the rights to Star
platform Disney Plus in November, and analysts say the menu of Marvel
"It just makes the household less
Wars, as well as many TV shows on
superheroes, Pixar characters, and
dependent on cable-delivered video,"
U.S. network ABC, including "Grey's
Disney animated classics could give
said Kaan Yigit, a technology analyst
Anatomy," "How to Get Away With
viewers another reason to drop cable
at Solutions Research Group.
Murder" and "Lost." Disney also recently purchased rival Hollywood
altogether. "Some of those households will look
44
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
studio Twentieth Century Fox Film W W W. M B E F O RYOU. C O M
Corp., giving them access to decades
firm Convergence Research, says
Corus representative Ashley Apple-
of film and TV, including action hits
many questions linger about how
baum said the "strong partnership"
like "Die Hard," and classics such as
Disney Plus will look in Canada. In
between the two companies hasn't
"The Sound of Music."
particular, he wonders if viewers will
changed for Disney programming
feel the service's programming slate
made for broadcast television.
The initial slate of titles that'll launch
pales in comparison to the U.S.
on Disney Plus in Canada hasn't been
"Corus will continue to exclusively
announced, but the company has
It's a criticism that hindered Netflix for
offer first-run premieres of the newest
teased some of the projects that are in
years after it launched in Canada.
series, specials and Disney movies on
the works. Among programming
Disney Channel, Disney JR and
exclusively launching on the platform
Representatives for Disney declined
Disney XD in Canada, airing day and
is an update to the "Home Alone" and
to answer questions about whether its
date with the U.S.," she said in an
"Night at the Museum" franchises, as
Canadian Disney Plus service will
emailed statement.
well as a remake of "Lady and the
mirror its American platform.
Tramp."
Eiley suggests that'll put the onus on For viewers, figuring out which Disney
viewers to do their own homework
Disney is banking on its appeal out of
shows are available on the Disney
and figure out which shows are on
the gate, with Disney Plus launching
Plus platform could prove complicat-
which platform.
across nearly all major mobile and
ed.
connected TV devices. That'll give
"Consumers are going to have to be
viewers an opportunity to sign up
For instance, Disney has a broadcast-
savvier in terms of what they're
whether they use Apple, Google,
ing deal with Toronto-based media
actually getting," he says.
Microsoft, Roku or Sony products.
company Corus Entertainment, which
How will the Canadian platform compare to the U.S.?
operates the Disney Channel and
The launch of Disney Plus in Australia
several other family channels that
and New Zealand will follow on Nov.
carry the company's new shows.
19.
Brahm Eiley, president of consultancy W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
45
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MEG Energy Clashes With
Enbridge Over Sweeping Changes To Mainline Pipeline GEOFFREY MORGAN www.business.financialpost.com
CALGARY — a war of words between oil companies and
on Aug. 2, calling for oil companies refineries and trading
their main pipeline provider Enbridge Inc. is expected to break
houses to sign contracts on Canada’s largest pipe network,
out amid sweeping changes to Canada’s biggest oil export
which moves 2.85 million barrels of oil per day from Western
pipeline network at a time of tight takeaway capacity.
Canada to markets in the U.S. Midwest and Central Canada.
On Aug. 16, MEG Energy Corp. president and CEO Derek
Enbridge workers weld pipe in Manitoba in 2018. John
Evans wrote a letter to the National Energy Board, Canada’s
Woods/The Canadian Press
pipeline regulator, to express his opposition to Enbridge’s call for contracts on the Mainline pipeline network, which is
Enbridge is trying to contract up to 90 per cent of the space
Canada’s largest oil pipeline system. “It is MEG’s position that
on the Mainline and leave 10 per cent of the system available
Enbridge’s contract carriage proposal should be abandoned,
for shippers on the spot market — almost a complete
as it is not in the overall public interest,” Evans wrote.
inversion from the way the network has operated for the past 70 years, as a 100-per-cent “common carrier” or spot market
MEG opposes Enbridge’s call for contracts because it comes
system.
as pipeline space is scarce and comes at a premium in Canada, where oil production currently total outstrips pipeline
MEG’s letter comes after the Explorers and Producers
export capacity.
Association of Canada, which represents small- to mid-size oil and gas companies, similarly wrote to the NEB last month
At a minimum, Evans said the contracting of the Mainline
asking for changes to the Mainline be delayed until more
should be delayed “until such time as the uncertainty regard-
pipelines are built.
ing future takeaway capacity from Western Canada has been resolved, so that shippers can make informed decisions
Enbridge’s Jarvis insists the timing of his company’s move to
regarding available market access options before, in effect,
a contracted system is motivated by regulatory timelines.
being forced into a (contract).” “The timeline we’re following is being driven by the fact that The letter states that MEG will oppose Enbridge’s move to
our current tolling deal expires on June 30, 2021” Jarvis said,
contract the Mainline and hints that other companies in
adding this type of regulatory review can take up to 15
Calgary will follow suit.
months. “We need to get after that now so that we can file this year and have it through the regulatory process and ready to
“MEG also understands that some parties have or may seek to delay the Open Season.” “We do know we that we have an awful lot of support for what we’re doing,” Enbridge executive vice-president, liquids pipelines, Guy Jarvis said in an interview Monday.
go by July 2021,” he said.
“The timeline we’re following is being driven by the fact that our current tolling deal expires on June 30, 2021,” Enbridge executive vice-president, liquids pipelines, Guy Jarvis
Calgary-based Enbridge, North America’s largest pipeline
Industry focus on the Mainline has intensified in recent years
company, launched an open season for its Mainline network
as Canadian oil production has surged and pipeline compa-
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
47
nies have struggled – as a result of delays to new pipelines –
Enbridge executive vice-president, liquids pipelines, Guy Jarvis
to keep pace. In the case of the Mainline, Enbridge has had to apportion
Still, he said he’s aware of the criticisms of the offering. “We’re
space on the system. Space on the lines has become more
not crazy about the fact that people are raising these
valuable as a result and some companies have been gaming
concerns but we’re not entirely surprised,” Jarvis said. “I think
the system by demanding more pipeline space than they
it stems from the fact that not everybody can get exactly what
need in the spot market in an attempt to avoid apportionment.
they want from this process by its nature of creating open access.”
Enbridge has been working to address those issues and also to expand the Mainline.
However, some oilpatch executives aren’t convinced the system needs to change from the spot market, and note that
Jarvis said Enbridge has been working for 18 months to
the current system – where all of the space on the Mainline
come up with an offering that addresses concerns raised by
system is available to the spot market – has been operating
smaller oil companies and also works within the regulator’s
as it is for 70 years.
requirement of allowing “open access” to the system. Finding a balance between all of the shippers’ needs has been a
“We have to be really careful here on this firm capacity and
challenge, he said.
whether it’s something we should even be doing. I know Enbridge wants to do it and I know the refiners in the Midwest
“We think we’ve done an awful lot to address the concerns of
really want it and the marketers really want it,” Canadian
the small producer,” he said, adding the open season allows
Natural Resources Ltd. executive vice-chairman Steve Laut
for shipping commitments as low as 2,200 barrels of oil per
said on a recent Canadian oil and gas focused podcast by
month.
ARC Energy Research Institute.
“… not everybody can get exactly what they want from this process by its nature of creating open access.” 48
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
“We have to be careful we don’t shift all the market power to the buyers and not the producers,” Laut said.
W W W. M B E F O RYOU. C O M
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How To Keep Your Employees During Rough Times
WWW.BDC.CA
Many employers view layoffs as an
cies, improve sales and marketing and
go back to school or care for an ailing
unpleasant, yet inevitable conse-
identify new markets for your products
parent.
quence of difficult economic times. But
and services."
that’s not always the case. A little bit of
"For this to work though, you need to
creative thinking could allow you to
There are two advantages to this
tell employees how much you appreci-
stave off cutbacks and quickly pick up
approach. First, people are more than
ate them doing this, and how this
the pace once the economy recovers?
ever willing to contribute during times
benefits both them and the organiza-
of crisis. Second, employees are more
tion," says Iain Morris, a partner with
And what’s the best way to find those
likely to embrace change if they're
Mercer's human capital business. "You
creative ideas?
consulted beforehand. Unilaterally
also have to stress they will have a job
cutting benefits or working hours, for
to come back to. Or if they agree to
Talk to your employees
example, will do nothing to boost staff
work 10% less hours over six months,
"Nobody is smarter and more obser-
confidence and loyalty in your firm.
that afterward you won't force them to
vant at seeing the real nitty gritty of a
continue at that reduced work level."
company than its employees" says
Instead, ask your employees what
Mary Karamanos, Senior Vice
they think and how they want to help.
Give people a sense of control
President, Human Resources at BDC.
Some may be interested in shorter
Experienced entrepreneurs have
"They often have creative ideas on
work weeks for a few months or a
learned that keeping an open and
how to reduce costs, boost efficien-
partial paid leave to travel, volunteer,
honest line of communication with
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
51
employees will go a long way in
feel uneasy or uncertain about the
Brian Lindenberg, a senior partner
helping companies weather economic
company's stability."
with Mercer in Calgary, cautions that
storms.
companies should also avoid doing
Don't take away the coffee!
away with small perks to save small
At professional services firm Deloitte,
Having motivated employees is
amounts of money. Cutting out free
for example, a blog has been created
essential for any company looking to
coffee, for example, may save the
where employees can post ideas on
increase efficiency and boost produc-
company a few bucks each month, but
how to improve productivity and
tivity. This can be a particular
employers will pay an even higher
effectiveness. Kathy Parker, a partner
challenge when people are worried
price in lower morale.
at the firm, says people tend to
about job security, paying for their
respond best when they feel they have
children's education and saving for
Another misstep employers should
a sense of control over their destiny.
retirement.
avoid is expecting other workers to
"It's also a great way to unleash their
Morris stresses the importance of
creativity" she adds.
being clear and realistic on the
pick up the slack when layoffs do occur, Lindberg says.
company's direction and expectations
"It's essential that you either stop
Whether you have a blog or not,
for the future and what actions your
doing this work, or improve the work
Parker says, it's still important to have
organization is taking to get there.
processes so it can be done more
regular one-on-one meetings with
efficiently," Lindenberg says. "If you
your team to keep abreast of front-line
"If people don't know what the heck is
simply load up your staff with 10%
activities.
going on, then you get the
more work for the same pay, you will
deer-in-the-headlights behaviour" he
end up with staff who are less
"Efforts to create frequent, consistent
says. "But if you're clear about your
productive and far more stressed."
and concise communications are
expectations and set interim goals
never beyond the means of a firm of
that are realistically achievable, then
any size," says Parker. "It is particular-
your employees will have something
ly important to keep your high
to strive for. It becomes very motivat-
potential talent engaged at a time
ing."
when it might be very easy for them to
52
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
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53
‘This Case Is Disturbing:’ N.S. Judge Rebukes Lawyer Who Overcharged Client ALY THOMSON The Canadian Press A Nova Scotia judge has rebuked a
In July 2014, Anthony Angione’s
MacEachern settled both claims with
Sydney lawyer for overcharging a
children were struck in a marked
Angione’s insurance provider, one in
single father whose young children
crosswalk in Glace Bay. His
June 2018 and the other in Septem-
were badly injured after being hit by a
11-year-old daughter suffered
ber 2018. The children were awarded
vehicle in a crosswalk.
fractures of both legs and abdominal
$95,000 each.
trauma, while her eight-year-old In a ruling released Thursday, Justice
brother suffered injuries requiring
After MacEachern received compensa-
Frank Edwards said lawyer Duncan
surgery.
tion for the first claim, he sought
MacEachern’s requested fee was not
compensation for the second,
reasonable and he did not treat his
Angione signed a contingency fee
requesting 35 per cent of the
client – a single father on social
letter with MacEachern that stated the
settlement figure or his billed hours.
assistance – fairly.
lawyer would get 35 per cent of any award or his billed hours at $300 per
Edwards ruled that MacEachern’s
“This case is disturbing on a number
hour, whichever figure was higher.
35-per-cent contingency fee was
of levels,” said the Nova Scotia
Payments were deferred until the
excessive and unfair. Moreover, he
Supreme Court judge. “Mr.
conclusion of the case.
said the fee agreement did not comply
MacEachern demonstrates no
The letter also stated that in the event
with the court’s policies.
contrition. In fact, he appears to be
the litigation was unsuccessful, the
“This was a contingency agreement
indignant about being questioned
client would still be responsible to pay
without an actual contingency. Win or
about his work and, in particular,
the lawyer for his billed hours.
lose, the lawyer would still get paid.
about his account.”
54
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
That is not the way it is supposed to W W W. M B E F O RYOU. C O M
be,” the judge wrote.
“The lawyer’s premium is only justified when he shares the litigation risks with the client. No win (equals) no fee is the standard.” Edwards said the agreement did not account for the substantial duplication of effort in pursuing the claims of both children, and also determined there should have been a joint motion for approval of fees for both claims, which would have saved each child at least $2,000 in fees. The judge said Angione would not know about the litigation process, and would not know what constitutes a fair and reasonable fee. He said MacEachern had a professional obligation “not to take advantage (or appear to take advantage) of the other party.”
“Despite the father’s stated satisfaction with the agreement, I was not satisfied that Mr. MacEachern had treated him fairly,” said Edwards.
W W W. M B E F O RYOU. C O M
“This is not an unqualified commercial transaction where it may be fair game
“The public must understand that this
for one party to maximize his profit if
is not a typical contingency fee
he can get the other party to agree.
agreement. This agreement would not
This is an agreement between a
be acceptable to the vast majority of
professional and an inexperienced
practising lawyers.”
trusting individual.” The judge noted most contingency Edwards also said he was not
agreements provide the financially
confident that MacEachern’s billed
disadvantaged with access to justice
hours were an accurate reflection of
they could not otherwise afford.
the work he did. He reduced his compensation from $19,805 to
He expressed concern that this may
$15,3000.
not be the first time MacEachern has employed such a contingency letter,
Edwards went on to say he believed
and may represent “business as
$2,000 should have been saved with a
usual” for the lawyer.
joint motion, so he then brought his entitlement down to $8,743.50, and
“Most lawyers in this line of work
because he was not confident in
accept the litigation risks along with
MacEachern’s billed hours, he then
their clients. Sometimes they win big
further reduced his outstanding
and sometimes they take heavy
entitlement to $5,000.
losses,” the decision said.
“Most disturbing, and perhaps of most far reaching consequence, is his attempt to veil his self-serving engagement letter as a noble attempt to give the poor access to justice,” Edwards wrote.
“Regrettably, Mr. MacEachern’s conduct of this case may reflect badly and unfairly upon others in the profession.”
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
55
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W W W. M B E F O RYOU. C O M
Kingston’s Uber Bylaw Suspended After Legal Review Frazer Snowdon | Videographer Global News The Kingston Area Taxi Commission has revoked its bylaw aimed at ride-sharing companies after finding out that they don't have legal authority over companies like Uber and Lyft. The bylaw meant to regulate ride-sharing business like Uber in Kingston is on a permanent hold, according to the Kingston Area Taxi Commission. The commission met Wednesday evening to discuss bylaw 4, which was passed in June and should have taken effect on Sept. 15. After an emergency meeting called by the commission last week, the bylaw was temporarily suspended for legal review. Rod Moffat, the chair of the commis-
Uber is affecting his business.
sion, said from that review they learned that under Canadian law, the
“It’s disappointing,” said Ambury.
commission has purview over all taxi
“That means we have to work longer
brokers, but not over ride-sharing
hours, more days, just to make a
companies.
basic living.”
Kingston. He originally thought the bylaw had been put on hold due to his complaint, but Moffat says
“In 2015, the Ontario Superior Court
WATCH: Taxi driver in Kingston upset
the Competition Bureau had nothing to do
ruled that Uber is not a [taxi] broker.”
after regulating bylaw was put on
with the bylaw’s undoing.
hold Despite the setback, Moffat says the commis-
Bylaw 4 was supposed to impose
sion is still committed to their original goal.
regulations on ride-sharing compa-
But for Uber drivers like Vic
nies much like they would on taxi
Guilherme — who had worried the
services, requiring drivers to register
fees imposed on Uber would have
“Now we have to determine what our options
licences with the commission, as well
driven the company out of Kingston
are to regulate Uber under bylaw 4.”
as asking companies like Uber to pay
— it’s the news he had been hoping
thousands of dollars to operate in
for.
The commission also passed a motion to increase the taxi rate by approximately 19 per
Kingston. For now, these stipulations won’t be met, and Uber will continue
“The fees and everything compared
cent. This would be the first rate jump for taxi
operating in Kingston as it always
to taxi bylaw, and the fees that they
drivers in Kingston in 10 years, which was
has.
pay — I don’t think it was fair at all.”
seen as a small win for drivers.
It’s upsetting for taxi drivers like Roy
James Litchfield, another Kingston
“I’m cautiously optimistic that something is
Ambury, who was present at Wednes-
Uber driver, recently registered a
going to happen that is good,” said Ambury.
day’s meeting. He’s been driving
complaint to the Canadian Competi-
cabs on Kingston roads for the last
tion Bureau, claiming bylaw 4 was
40 years and says with rising costs,
unfair to ride-sharing businesses in
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
57
Inside The Power Struggle Between Big Banks & Fintechs To Modernize The Financial Services
Geoff Zochodne
Fintechs is an amalgamation of
offering services or products that are
Finance & Technology, and is an
related to crowdfunding, insurance,
innovation into the modern tech world.
wealth management, cryptocurrency ,
It can be even better for the custom-
Examples are cryptocurrency, digital
artificial intelligence, capital markets,
ers, and most of the financial consum-
cash, and block chain technology
lending & payments.
ers, however, when we talk of the
including Ethereum.
tech grounds.
legacy financial companies they face The study however didn’t find that
some conflict of interest, when it
Canada a country that has rich history
1000 partnerships with financial
comes to financial innovation. Primari-
of innovation and technology, howev-
institutions. The Canadian Big Five
ly they have earnings targets to be
er, in the next few decades the
Banks have been increasing their
met, some investors that needs to be
powerful techno forces will definitely
associations with Fintech, but most of
made happy, and many employees
transform the global economy &
them were making efforts to build their
and an existing system that is already
change according to modern needs.
own products and digital experiences.
active to meet the goals.
The federal govt. launched a study for
As there has been partnerships in the
the landscape for financial technology
past, the majority of the partnerships
According to a competition bureau
companies, or fintechs, and definitely
are on the financial institutions terms,
research there are low levels of
figured out how they were getting
they are not something called
financial technology involvement in
along with the banks and financial
dynamic new business models, not
Canada than compared to other
institutions. There were around 1000
going to make the marketplace more
countries. There are symptoms of
Fintechs across Canada that were
competitive for reasons that are on
market that are highly non-functional.
58
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
Financial analyst also think that the
management experience to something
as it does for many people, and that is
major banks and the insurers face the
that is more automated and has a
banks. They have received immense
dilemma of the insurers. The demands
drive for technology, just in order to
funding from Canadian Western Bank,
are high, with a huge base of custom-
make it more appealing to different
as well as the Canadian Business
ers and investors demanding good
segments of the population. It’s the
Growth fund. They are backed by Big
returns is unlikely to welcome a
role of the federal govt. that might
Six banks, as well as major insurers.
company that could disrupt its own
open a door for the fintechs to get to
In and during many discussions with
business. The Royal Bank of Canada,
the market. Canada is also consider-
executives of Canadian FIs, there was
Chief Executive, Dave McKay has
ing of open banking, which means
a problem that was outlined. There
reported very recently that he has
more control over data and increase
were issues finding the right fintech
high concerns with the future
in the portability levels. Technology
offering enterprise-ready products or
prospects of Facebook Inc.,
plays a big role, it will enable or
services meeting the scalability and
amazon.com, Apple, Netflix and
accelerate a decentralization of
security requirements of FIs system.
Alphabet Inc’s Google getting into
financial market participants, and
There are also assumptions that
banking. The RBC and other big
diminish the boundaries of a tradition-
consumers don’t want fintech
financial institutions are well aware
al regulated financial institution. In
solutions as adoption in Canada is
that they need to raise their game,
simple words increasing the number
lower than other regions of the world.
similarly was noted by Luge Capital, a
of touch points, increasing the number
There are also some reports from the
company that realized similar thing, it
of potential vulnerable spots, and the
federal govt. that there is no need to
is a Canadian venture fund and highly
likelihood that bank stays with
aggressively enable a more competi-
focused on fintech and artificial
sufficient money, a positive for
tive financial services market.
intelligence.
everyone.
The biggest banks may still be having
The signs are strong that other
as well as reports from the financial
the largest share in financial services,
sectors are coming at the bit for the
post have shown that there were 995
however, there have been some shift
financial industry to adopt to more
fintech companies in Canada, now
recently. Last three to five years have
innovations. PayBright is a consumer
increased to 1,050. The rate of
seen some widespread recognition
lender that is paying retailers the next
increase in fintech companies has
amongst the FIs i.e. financial institu-
business day, also allowing the
been on a decline in recent years, In
tion, they need to work with the early
customers to pay off their purchases
Toronto the fintech setup companies
stage or smaller fintech companies in
in instalments, and the retail confer-
have dropped to 9 last year from 33 in
order to make some services to
ence, a perfect forum to announce
2014. However, there is a mandate to
customers more enhanced. A demon-
some news or breakthroughs. The
promote the companies, and also to
stration of the way banks are shifting
money or capital for PayBright’s
promote competition between them,
their view from the traditional wealth
payments comes from the same place
i.e. moving forward positively.
The Fintech Growth Sydicate study,
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
59
4 Questions To Ask When Planning For Enterprise 5G www.canadabusiness.ca Canada recently announced its plans to make more 5G spectrum available in 2020, so now is the time for organizations to start preparing for this ultra-fast service. However, other than general descriptions of 5G networking’s performance capabilities, service providers have left businesses with numerous unanswered questions on the sourcing and procurement of 5G services.
There is a lack and opacity of details
timelines to deliver each.
around 5G plan structures, prices for mobile services, and overall terms
WHERE AND WHEN CAN WE GET 5G?
and conditions. This means enterpris-
With the lack of details shared by
es acquiring proprietary 5G or
service providers on what 5G
early-stage 5G services are more
services will involve — beyond what
likely to pay premium prices for
is initially available — enterprise
limited usability or to delay their initial
sourcing, procurement and vendor
5G planning.
management leaders should require their carriers to provide detailed
To avoid such risks, buyers should
terms and data regarding current and
ask service providers or resellers
planned coverage. They also should
these four questions when evaluating
require precise timelines for endpoint
5G services.
types and availability and specifics about corporate plan structures.
FOR WHAT WILL WE NEED 5G? Gartner client surveys show that
It is critical that your mobile service
businesses are interested in invest-
procurement teams develop realistic
ing in 5G services and technology as
estimates or budgets for the expect-
long as those services and tech
ed cost of a 5G-reliant implementa-
come with enhanced mobile broad-
tion to ensure that devices and
band, are ultra-reliable and operate
Internet of Things (IoT) connectivity
at low latency.
modules are compatible with their carrier’s 5G networks.
If you are hesitant to move to 5G, identify the viability of 5G-reliant
WHAT WILL 5G COST?
use-case plans by asking carriers to
It’s important that organizations avoid
provide detailed specifications on 5G
paying a premium for 5G service
performance, throughput and
compared with 4G LTE. To achieve
endpoint capabilities, as well as the
this, business buyers need to
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MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
negotiate for 5G services to be included in standard 4G LTE corporate handheld device plans for no additional fee. Ask carriers to provide current and planned rate plans, plus their approach for applying available corporate discounts to 5G purchasing. Then, compare available 4G performance with available 5G performance at needed locations.
HOW WILL 5G PERFORM? Service providers are claiming 5G as a critical network enabler of applications, such as autonomous vehicles and remote robotic surgery. However, mobile service providers have rarely guaranteed network availability or performance with service-level agreements (SLAs). Separate hype from reality by requiring SLAs with committed service credits for 5G connections that do not meet KPIs for network performance and reliability. W W W. M B E F O RYOU. C O M
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61
Home sales climb higher in July, Canadian Real Estate Association reports The Canadian Press Sales up in most large markets, including Calgary, Edmonton, Toronto, Montreal, B.C. Lower Mainland Canadian home sales rose in July in broad gains as markets start to recover from the stress test tightening last year, though economists say global concerns raise some uncertainties for the future. The Canadian Real Estate Association said Thursday that home sales rose 12.6 per cent in July from a year earlier, and were up 3.5 per cent seasonally adjusted from June. "Sales are starting to rebound in places where they dropped when the
62
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
mortgage stress test took effect at the beginning of 2018, but activity
The broad rise in sales put them at
there remains well below levels
their best level since the stress tests
recorded prior to its introduction,"
kicked on at the start of last year,
said CREA president Jason Stephen
said BMO chief economist Douglas
in the report.
Porter in a note.
The increase came as sales were up
"After a challenging 18 months, the
in most of the country's largest
Canadian housing market is showing
markets, including the B.C.'s Lower
widespread signs of, not just stabiliz-
Mainland, Calgary, Edmonton,
ing, but firming again."
Greater Toronto Area, Hamilton-Burlington, Ottawa and Montreal. Sales
CHANGES TO MORTGAGE RULES
were down in Regina, Saskatoon,
The federal government updated
and Windsor-Essex.
mortgage qualification rules at the start of last year to require more
In the Prairies, oversupply continues
would-be borrowers to prove they
to push prices downward, CREA
could manage if interest rates rose.
says. Benchmark prices were down 3.5 per cent in Calgary, 3.2 per cent
The national sales-to-new listings
in Edmonton and 4.4 per cent in
ratio tightened to 59.8 per cent last
Regina.
month from 57.6 per cent recorded in W W W. M B E F O RYOU. C O M
June to the upper end of what's considered a balanced market, he said. The rise in sales, which came as the number of newly listed homes edged back by 0.4 per cent in July, put some pressure on prices, said Porter. "With sales regaining some momentum broadly, and the market tightening in many regions, it's little surprise that prices are starting to turn the corner again." The national average price of a home sold in July was just under $499,000, up 3.9 per cent from the same month last year and a seasonally adjusted 2.6 per cent from June. Double-digit price gains in several Ontario communities including Ottawa and Kitchener-Waterloo helped drive up the overall average, while cities in Western Canada generally saw prices drop.
GLOBAL UNCERTAINTIES Porter said global uncertainties are already driving borrowing costs lower, which could further boost the Canadian market, but if economic declines prove serious then interest rates will be secondary. "The downside is that if global uncertainties morph into something much more serious for the domestic economy, interest rates will be playing a second fiddle." TD senior economist James Marple said the housing market looked robust for the month, supported by strong population growth, solid job growth and lower mortgage rates. "This can only be described as a solid month for the Canadian housing market ... with most markets in balanced territory or better, the immediate downside risk to home prices have diminished considerably." He said there is some uncertainty as to where rates will go, since domestically the economy looks strong while there are considerable international challenges as global economic growth looks even softer than previously thought.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
63
Trudeau Is Right:
40% Of Canadians Don’t Pay Income Taxes, Which Means Someone Else Is Picking Up The Bill TED RECHTSHAFFEN www.business.financialpost.com
Ted Rechtshaffen: The top 20% is likely paying 70% or more of all income taxes
and provincial governments.
Many people were upset with Prime Minister Justin Trudeau
those with children. The CRA even has a wonderful online
this week for saying “low-income families don’t benefit from
calculator that will quantify just how large those benefits
tax breaks because they don’t pay taxes.”
might be.
Of course, some were upset because they felt it was untrue.
To better illustrate this zero-per-cent tax bill, I ran three
But Trudeau was speaking the complete truth when it comes
different scenarios through the calculator. All three scenarios
to income taxes (HST, realty taxes and other consumption
were made up of a family with two working parents and three
taxes are another story). It is just a truth that he may not want
children (aged one, four and six) living in Northern Ontario,
many Canadians to know.
paying $15,000 a year in rent.
On average, two of every five Canadian households do not
In the first scenario, each parent made $22,650 for a house-
pay anything towards federally and provincially funded
hold income of $45,300. Based on the Ernst & Young person-
expenses such as health care, education, community and
al tax calculator, the household should pay a total of $4,564
social services, national defence, public safety and even the
in federal and provincial income tax.
As it turns out, quite a few benefits are paid out to Canadians with household income in the lower 40 per cent — particularly
good old Canada Revenue Agency. One household of every five pays much more than 70 per cent of all of those costs.
This income level lines up at the 20th percentile mark outlined by the Fraser Institute — or exactly in the middle of the
It didn’t used to be this way, but it is now.
bottom 40 per cent in terms of household income.
• Three reasons why RRSPs still matter — and one of them you probably didn’t know
But this household actually receives $14,758 from govern-
• These are the eight sources of retirement income you need
ment. Although the Ernst & Young calculator suggests it
to know about
should pay $4,564 in tax, and the Fraser Institute says it pays
• Three tips to help retirees minimize their taxes and
a small amount of taxes, it actually gets tax-free benefits of
maximize their cash flow
$19,321.96.
The Fraser Institute’s Canadian Tax Simulator 2017 looked at
These benefits consist of $17,485.80 from the Canada Child
Canadian households with income ranging from zero to
Benefit; $1,278.72 from Ontario Trillium Benefits (including
$80,843, representing the bottom 40 per cent of households
Ontario Energy credit, Northern Ontario energy credit and
by income, and found they paid 4.6 per cent of all the
Ontario sales tax credit); and a $557.44 GST/HST tax credit.
personal tax paid. That seems like a low number, but it still isn’t zero.
Of course, not every household looks like this or has three children, but the numbers for this household are quite
How does 4.6 per cent become zero? It happens when the
staggering. It effectively does not pay any tax, and then
tax that is paid is then given back (and more) by the federal
receives $14,758 tax free from other Canadian taxpayers.
64
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
What if we move up the income range to what is roughly the
says that the top one per cent is paying 17.9 per cent of
30th percentile, or $60,420 of household income, split
income taxes, and the top 20 per cent are paying 64.4 per
equally?
cent.
This household should pay $7,596 in income taxes, according
Consider that if the bottom 40 per cent pays much less than
to the Ernst & Young tax calculator (assuming no deductions),
zero per cent of income taxes, after adding the exceptionally
and would receive $13,738.32 in tax-free benefits. In other
large Canada Child Benefit and several other tax-free
words, it effectively receives $6,142 from other Canadian
payouts, then someone else is picking up their tax bill. The
taxpayers.
top 20 per cent is likely paying 70 per cent or more of all income taxes.
A household at the very top of this group, the 40th percentile, or $80,844 of income, should pay $11,690 in income taxes
Is this tax fairness? It is certainly fair to some.
(again, assuming no deductions), and would receive $10,282.44 in tax-free benefits. It effectively pays $1,408 in
In the United States, taxation has been moving in a complete-
tax.
ly different direction. But when we hear about the “evil� one per cent in the U.S., we must recognize that the Canadian
Keep in mind that people in this group are no different than
one per cent is paying a huge amount of our tax bill.
anyone else and want to avoid paying taxes if possible. If there are any charitable donations, sizable health-care
Indeed, taxes are meaningfully rising for higher-income
expenses, RRSP deductions, or any other kind of deduction,
Canadians. In Alberta, the top tax bracket was 39 per cent in
this household has probably been able to eliminate that
2014. Today, it is 48 per cent, a 23 per cent increase. In
$1,408 in taxes.
Ontario, the top tax bracket was 46.4 per cent in 2013. Today, it is 53.5 per cent, an increase of 15 per cent.
These examples are not meant to be a definitive study of taxpayers, but are merely being used to prove a point.
The prime minister is absolutely right: tax cuts do not help 40 per cent of Canadians because they do not pay any effective
The Fraser Institute truly underestimates the numbers when it
W W W. M B E F O RYOU. C O M
income tax. How do you like them apples?
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
65
Vegan Trainer Tay Sweat Talks about Stereotypical Notions around Veganism
While some myths and notions are still understandable, there are also those that are a bit far-fetched
really is, there are numerous rumours
alternatives, there are several others
and misconceptions on the subject.
to choose from, like coconut milk,
Tay Sweat, popularly known as The
almond milk, rice milk, and cashew
Vegan Trainer, has always done his
milk.
best to help educate people about veganism and dispel these incorrect
People have expressed nutrition
notions and myths.
being a concern when considering the option of going vegan. It is
While some myths and notions are
believed that vegans are malnour-
still understandable, there are also
ished due to the exclusion of
those that are a bit far-fetched. Tay
animal-based products. The irony is
shared a few interesting queries
that it is quite the opposite. Vegan
which he encountered in the past.
diets are known to strengthen your
The concept of veganism is becom-
The most common issue brought to
immune system, promote cardiovas-
ing a global phenomenon, with
light is that vegans don’t consume
cular function, enhance endurance
people across the globe embracing it
enough protein as meat is the best
and improve skin health. Tay further
for a variety of reasons. What started
source for it. There are innumerable
elaborates, “Vegan diets are crafted
out as a trend has turned into a
alternate sources of protein which in
to help provide your body with
movement, more and more people
fact surpass meat in terms of potency
everything it needs. As opposed to
are beginning to understand the
and nutritional value. Another major
convention, dairy, eggs, meat, and
benefits of veganism. The issue is
concern is that soy milk is the only
animal-based products are not
that many people seem to have their
alternative to dairy milk. While soy
essential. Vegans have a plethora of
own interpretations of what veganism
milk is one of the most popular
alternate plant-based sources to
66
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
choose from. Many of these so-called myths are simply a result of half information or a lack thereof.” Tay Sweat’s foray into nutrition and fitness began several years ago when he battled obesity, diabetes, and various other health disorders. After losing more than 120 pounds and healing from all his ailments, he realized that he was destined to become a health professional. Today, Tay is a master trainer, certified by the NASM and CPT, with multiple specializations in holistic nutrition, weight loss, and corrective exercises. Tay has also authored two bestselling books, namely, ‘How to Vegan Keto’ & ‘The Wild Rabbit.’ Tay has always been passionate about helping and guiding people down the path to veganism. His quest to help educate people about health and fitness led him to become a formidable social influencer. With more than 1,15,000 followers on Instagram, 50,000 on Facebook and 10,000 on YouTube, Tay is no stranger to fame. He hosts his own podcast, titled ‘WeGood’, sharing his knowledge and experience with people and helping them transform themselves, embrace veganism and live healthier lives. Tay firmly believes that knowledge is power, and he does his best to lead by example. Having reached out to more than 4000 clients in various countries across the globe, Tay has helped his clients broaden their horizons and gain a deeper understanding of health, fitness, and nutrition as a whole. As per Tay, “It is our duty as health professionals, to provide people with a clear picture so that they are able to make educated health decisions. Knowing only part of the story is always dangerous, whether it’s about going vegan or anything else.”
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
67
Who Does Mortgage Insurance Protect? GEOFFREY MORGAN www.business.financialpost.com
INTRODUCTION:
initially. There are only three insurers offering this service in
Most homes in Canada are purchased on mortgage, as
the whole of Canada, CMHC is the one that controls the
people prefer to pay mortgage rather than paying the whole
insurance market as they are the most popular in insurance
lum-sum amount. Some people can’t even afford the full
business, and have a reputation of success. Their dangers of
payment of the home that’s why they need to get a mortgage
collapse are minimal as compared to other companies who
and they believe it’s desirable, with relaxed options. The
are at higher risks. The amount of deposit that you have
general rule says that you need to pay 20% of the amount of
initially paid will determine the cost of your insurance and the
the original price. Most people unfortunately can’t afford to
percentage. The higher the initial deposit, the better rate of
put that amount, especially if they are buying a highly
insurance for your mortgage, as it is highly dependent on the
valuable and priced home. In order to make mortgages more
amount of initial payment. By increasing the down payment
relaxed and accessible, borrowers who can’t afford the 20%
the buyer is giving more financial security to the mortgage
maybe be allowed to put down a lower percentage. Mortgage
company.
insurance is for those who can’t afford a higher percentage.
QUALIFYING FOR MORTGAGE INSURANCE: WHO DOES MORTGAGE INSURANCE PROTECT?
Qualifying for mortgage insurance you must have a home,
After taking the insurance facility, the lender can allow you to
and a source of income, like a job or a business to keep
setup a much smaller deposit. This can be sometimes as low
paying for the monthly installments. Your home cost should be
as 5%, and that is the minimum in Canada. In case of such a
$1 Million and below, the property must be within Canada, the
deposit the risks to lenders are increased and hence they
total value of the cost with the house shouldn’t exceed the
need protection. The govt. has designed mortgage insurance
32% of the household income, and finally the down payment
to increase the affordability of most people to have their own
should be at least 5% on the first $500,000 of the cost of the
home, also mortgage insurance is also different from
house.
mortgage life insurance.
WHO DOESN’T QUALIFY FOR MORTGAGE? ORIGIN OF MORTGAGE INSURANCE:
Typical mortgage amortization periods in Canada range
Mortgage insurance in Canada emerged in the year 1946, at
between 25-35 years, if the period is more than 25 years, you
the end of the Second World War. The main concerns for the
don’t qualify for the mortgage insurance. There are many
Govt. was to re-integrate the returning soldiers, and help
instances where the lender may require you to take the
them settle with a new life. The barriers that came in front of
mortgage insurance despite raising the necessary 20%
Govt. was lack of homes, or not enough homes for them.
deposit. It’s your credit history that may prompt such a
Crown Formed Central Mortgage & Housing Corp. (CMHC),
requirement, the house location, and other factors that may
and the motive was to deal with the housing problems in
cause the lender to consider the mortgage risky. Also, people
detail. It was later named in 1979 to Canada Mortgage &
with bad credit history, or those who already have loans to
Housing Corporation.
pay, don’t qualify for mortgage.
HOW IT WORKS?
HOW PREMIUMS ARE PAID:
It works like any other insurance however somethings vary as
They are paid on monthly basis or lumsum payments
according to the amount of down payments that is paid
whatever suits the customer. If the amount is certain and fixed
68
on a monthly basis, some people think that it will help MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
W W W. M B E F O RYOU. C O M
manage the budget, as well as the expenses. There will be
consider the pros and cons of mortgage insurance with care.
however, some opportunity available to save money.
The decision is critical for the borrower to make a decision of waiting and raising your 20% deposit, or start paying for the
Lumsum or upfront payments are when you can pay for your
home and take the insurance cover. Do consider all the
mortgage insurance upfront. It is not considered worthwhile,
factors that includes paying the rent, and when you own the
but it’s good in some cases as it relaxes you. Paying the
house you will need to pay land rates and the maintenance
premium as deposit would reduce the mortgage principal,
costs. Your home insurance maybe lower as well, as a tenant
meaning lesser interest and low premium rates.
and it depends on the location of your house. Considering all the factors the borrowers can make a suitable decision for
HOW CAN YOU GET OUT OF IT?
themselves.
Re-financing option is the best possible way to get out of it, after paying the mortgage for some period with one lender you can switch to a different one. The customer can retain 20% of the house ownership, and avoid paying the premiums. Your calculations will be switched, and will be slightly different from the earlier ones.
CONCLUSION (MORTGAGE INSURANCE IN DECISION MAKING): Holds immense importance in decision making & it protects the lender from the risk of losing money. As a borrower, do W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
69
Why Small Instagram Influencers Are Better for Your Business Michael Guta www.smallbiztrends.com Instagram influencer marketing is
The emailed report, titled, Influencer
(5.0%), and mega (4.0%) influencers.
growing. While the exact value of the
Marketing Benchmarks, looks at AB
Facebook and Twitter have the lowest
market is hard to pin down, SBT
categories, platforms, and content
rates with under one percent for all
reported it surpassed the $1 billion
types. And across the four major
levels of influencers. But even for
mark in 2017. And it is now estimated
social media platforms, Instagram,
these platforms, the nano and
at over $2 billion.
YouTube, Facebook and Twitter, nano
micro-influencers fare much better.
and micro-influencers are doing No matter where the market value
much better than medium and mega
When it comes to the type of content,
currently stands, there is no doubt
influencers in different metrics.
images do better than videos on
Instagram gives brands access to a
Instagram across all levels of
large audience. And with the proper
Influencer Marketing Benchmarks
influencers. Video lags anywhere
optimization, you can target your
When it comes to engagement for
from .7% to .9%.
campaigns with the right influencer
Instagram, nano influencers (1K-10K)
and get more bang for your ad
have the highest rate at 4.4%. Micro
Industry Segments
dollars.
(10K-100K), medium (100K-1M), and
Instagram influencers run the gamut,
mega (1M+) influencers have rates of
which is why it provides a great
For small business owners with
2.4%, 1.8%, and 0.7% respectively.
opportunity for reaching a targeted
limited budgets, micro-influencers
This is the same across the board on
audience. And depending on what
provide great opportunities and value.
all the platforms.
industry you are in; Instagram can deliver great returns for your ad
And according to a report from CreatorIQ, micro-influencers are
The best platform is YouTube. It has
growing at a much faster rate than
the highest engagement rate for nano
their macro counterparts.
(6.7%), micro (6.2%), medium
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MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
dollars. The overall average engagement rate W W W. M B E F O RYOU. C O M
of campaign content on Instagram is 2.4%. But it can be higher or lower based on the industry. Pets, for example, has the highest rate at 3.9%, which is followed by tobacco and smoke at 3.3%, and children and baby toys at 3.2%. On the low end of the scale are personal finance (1.7%), music (1.6%), and healthy living (1.2%). As you can see, some very popular industry segments don’t do as well on Instagram. It just goes to show just because it is good for fashion, it doesn’t mean your personal finance business will do well on the platform.
Engagement Engagement rates are post likes or reactions, shares, views, and comments. When it comes to influencer marketing engagement rate is important. When the rate is high, it means people are responding to the content and if it is low, they are not responding. Subsequently, influencers with high engagement rates charge more. As a business, the engagement rate is but one metric you should look at, but it is an important one. By carefully analyzing the influencer’s engagement rate and other metrics, you can determine if they will deliver a good return on investment.
As the CreatorIQ report points out, the number of followers doesn’t dictate engagement levels. An influencer with 10K followers can give you a better ROI than someone with 200K followers. This is because the one with 10K might have an engagement rate of 15%. Meanwhile, the one with 200K is barely getting 1.5%.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019
71
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CHICKEN CHARGHA Full14.00 $ Half 9.99 $ CHICKEN BIRYANI
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