RE-DEFINING THE TRUE BEAUTY OF A PERSON & SOME KEY FACTS ABOUT THE NORTHERN ONTARIO TOURISM SUMMIT

ISSUE 52 | OCTOBER / NOVEMBER 2019

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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

06

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

08

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.

10

MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019

W W W. M B E F O RYOU. C O M

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.

12

MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019

W W W. M B E F O RYOU. C O M

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

W W W. M B E F O RYOU. C O M

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

14

MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019

W W W. M B E F O RYOU. C O M

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

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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

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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

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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

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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

2

3

4

5

14

6

7

18

23

33

34

38

39

29

30

31

32

36

59

60

37

40

41

44

46

4 5 6 7 8

35

43

47

55

13

22

28

51

12

24

27

42

11

19

21

26

10

16

20

54

9

15

17

25

8

45

48

49

52

50

53

56

57

61

62

65

66

67

68

69

70

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

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What’s great about this startup is that

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yourself, at least at the start.

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Canada where you can succeed as

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The other question is what to sell. You

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edge and experience. You may

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consult business owners, organize

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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.

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WHERE AND WHEN CAN WE GET 5G?

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With the lack of details shared by

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service providers on what 5G

early-stage 5G services are more

services will involve — beyond what

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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.

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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

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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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Address: 2570 Matheson Blvd E, Suite 211, Mississauga On L4W 4Z3, Toronto.

Phone: 1-855-661-1577

We Stand Up for the Home Owner!

HUMSAFAR Community Services

E-Commerce

E-Media

Photo Video graphics, banners business cards flyers

Music Movies, Games Looking for News, Sports Sponsors

Hi Speed Internet

$29.95

Home Phone $9.95

IPTV / CCTV $15-24.95

Live Training $500

ABDUL RASHID,CEO PHONE 289 242 0233 CUSTOMERSERVICE@E-DIGITS.COM

FRESH & DELICIOUS

MENU

CHICKEN CHARGHA Full14.00 $ Half 9.99 $ CHICKEN BIRYANI

8.99 $

CH. KARAHI GOSHT

9.99 $

35 Dundas St. West Mississauga, ON L5B 4M4 Tel: (905) 268-0088 | Email: info@barbqtonite.com | Website: www.barbqtonite.com

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MBE BUSINESS MAGAZINE OCTOBER / NOVEMBER 2019

W W W. M B E F O RYOU. C O M