CELEBRATE SMALL BUSINESS MONTH THIS OCTOBER
In This Issue: Nurturing Economic Growth: The Vital Role of Small Businesses
How to Manage Your Company's Cash Flow in Turbulent Times
What Makes an Organization a Top Employer?
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CONTENTS ARTICLES
VOLUME 18 ISSUE 4 | FALL 2023
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Your Business Pays for Rain > Here is How to Pay Less
14
Choosing a Strong TrademarkSpectrum of Distinctiveness
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Make Home Safe for Seniors
23
Life is Mindset - Thrive On It
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Bridging a Valuation Gap in M&A Transactions
27 How to Manage Your Company’s > Cash Flow in Turbulent Times
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Business Immigration - Canada and U.S. What You Need to Know Right Now
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What Makes an Organization > a Top Employer? THANK YOU 2023 SPONSORS
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The Challenges Faced by Small Non-Profit Organizations due to COVID-19 Pandemic
< MBOT’S ANNUAL GOLF CLASSIC AND NETWORKING DINNER TITLE SPONSOR PAGE 22
IN THIS
ISSUE
4
Chair’s Message
21
Events Re-Cap
7
President’s Message
34
New Members
10
Advocacy in Action
FROM OUR CHAIR
Embracing Fall
IN MISSISSAUGA’S BUSINESS COMMUNITY
As we bid farewell to the warm embrace of summer and welcome the changing leaves, cooler temperatures, and shorter days of fall, it is a fitting time to reflect on the vibrant tapestry of Mississauga’s business landscape. In our bustling city, where big retailers, shopping malls, and chain stores ensure we have access to everything we need, it is crucial not to overlook the unique contributions of our smaller businesses. They are the ones who often go the extra mile to provide personalized experiences that make our lives more memorable.
STEVE RHONE 2023 MBOT Chair President & CEO, Weston Forest
Mississauga is home to tens of thousands of these small businesses, each offering a distinct charm. We encourage you to seek out these hidden gems, those special places that add an extra touch of magic to our daily routines. By supporting them, we ensure the continued vitality of this important segment of our business community. Fall is a season of transition, both in nature and in our business endeavors. It is a time when we anticipate a strong finish to the year’s plans and goals while laying the groundwork for what is to come in 2024. Many of us use this season to engage in strategic planning, innovative thinking, and budgeting to achieve our personal and professional aspirations. It is a time of renewed energy and focus. In the spirit of giving, consider how you can contribute to our community. As the year draws to a close, let us reflect on how we can share our success with those in need, especially the smaller organizations that play a crucial role in our city’s fabric. Mississauga has experienced unprecedented population growth, a trend that shows no signs of slowing. While this presents incredible opportunities, it also challenges us to provide housing and infrastructure that can support our expanding community. We must remain patient and understanding during the disruptions caused by ongoing construction projects, such as the LRT, as they represent essential investments in our city’s future. A solid foundation ensures our business community has access to the skilled labor needed for growth. In conclusion, we extend our appreciation to all those actively contributing to making Mississauga the destination of choice for living and working in Canada. Together, we will navigate the challenges and seize the opportunities that lie ahead as we work towards building a prosperous future for our businesses. At the Mississauga Board of Trade, we are excited to close out 2023 on a high note and look forward to the possibilities that the future holds. Take some time to reflect and plan for what is next as we continue to build our businesses together.
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FROM OUR CHAIR
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FROM OUR CHAIR
2023
BOARD OF DIRECTORS
THE VOICE OF BUSINESS IN MISSISSAUGA Established in 1961, Mississauga Board of Trade proudly serves as a the Chamber of Commerce for the sixth largest city in Canada – the third largest city in Ontario. Mississauga Board of Trade represents all businesses in Mississauga. MBOT’s large, diverse and active membership has made us one of the most vibrant business associations in Canada. As the “Voice of Business” we advocate on policy issues that impact local business at all levels of government, and are influential in helping to shape policy decisions. MBOT also offers a wide variety of valuable business services and professional development programs, networking events and marketing opportunities, to help business grow, prosper, and get connected.
EXECUTIVE COMMITTEE: • • • • • • •
Steve Rhone, Weston Forest | Chair Sameer Sharma, Crown Group of Hotels | Vice-Chair Lucie Shaw, Nurse Next Door | Immediate Past Chair Crystal Reedie, RBC | Treasurer Adam Nowak, Gallagher Jonathan Borrelli, KMB Law Trevor McPherson, MBOT President & CEO (Ex-officio)
DIRECTORS: • • • • • • • • • • • •
Amanda Pautler, University of Toronto Mississauga Atul Sharma, Greater Toronto Airports Authority Gena Restivo, AstraZeneca Canada Janet Wardle, MHI Canada Aerospace Inc. Joanne Islip, Sheridan College John McKenna, McKenna Logistics Centres Linda Kern, The Kern Group, Inc. Malaika Mendonsa, Grant Thornton LLP Parveen Dhupar, BTI Brand Innovations Inc. Paul Meo, NTN Bearing Corporation of Canada Ltd. Robyn Saccon, BD Canada Steve D’Agostino, Avega Inc.
ADVERTISING INQUIRIES:
Solange Barcena - sbarcena@mbot.com
EDITORIAL INQUIRIES:
Katelin Mowder - kmowder@mbot.com
PUBLISHER: Trevor McPherson President & CEO ceo@mbot.com EDITOR: Katelin Mowder Digital Content Creator kmowder@mbot.com DESIGN & LAYOUT: Katika Integrated Communications Inc. www.katika.com PRINTING: Katika Integrated Communications Inc. www.katika.com DISTRIBUTION: Katika Integrated Communications Inc. www.katika.com PHOTO CREDIT: John Goldstein and Jennifer Wood Gold Media www.goldmedia.ca
ADVERTISERS INDEX Achev Babel Immigration Law CACD Canada Canadian Western Bank Credit Valley Conservation Glenerin Inn & Spa Insuranceland J D Factors KMB Law MERG 6
15 29 32 26 8 20 35 13 30 30
Migrate Home Mississauga Arts Council Pallett Valo LLP Rama Gaming House S+C Partners LLP Sheridan The Village of Erin Meadows University of Toronto Vyta Walden Circle
23 19 15 25 36 2 5 19 16 12
701-77 City Centre Drive Mississauga, ON L5B 1M5 T: (905) 273 6151 E: info@mbot.com W: www.mbot.com
mbotontario © 2023. All rights reserved. No part of this publication may be reproduced or copied in part or as a whole, without the prior written permission of the Mississauga Board of Trade (MBOT). Advertising content and the comments, views and opinions expressed CONNECT | 2023 ISSUE 4 herein are those of contributors and do not necessarily constitute endorsement by MBOT. Publication Agreement Number 40012444.
FROM OUR PRESIDENT
Nurturing Economic Growth: TREVOR McPHERSON President & CEO Mississauga Board of Trade
THE VITAL ROLE OF SMALL BUSINESSES
In the hustle and bustle of Mississauga, where multinational corporations often steal the spotlight, it is easy to overlook the quiet heroes of our economy – small businesses. These enterprises, often startups or family-run ventures, form the lifeblood of our community, playing a pivotal role in driving economic growth not just in Mississauga but across Ontario and Canada. As the President and CEO of the Mississauga Board of Trade, I want to shine a light on the economic importance of small businesses and why they deserve our unwavering support. Small businesses are not just the backbone; they are the heart of the Canadian economy. According to Statistics Canada, as of December 2021, nearly 98% of businesses in Canada are categorized as small, employing 67.7% of the private labour force. These enterprises contributed 36.7% to the GDP generated by the private sector in 2019. However, an impending challenge looms in the form of a retirement wave among small and medium-sized enterprise (SME) owners, with 75% expected to retire in the next decade. Succession planning has never been more crucial. To address these challenges and support small businesses, the Mississauga Board of Trade and the Canadian Chamber of Commerce have called on the federal government to implement measures like extending the Canada Emergency Business Account (CEBA) loan repayment deadline and modernizing the tax system. Regulatory modernization, alignment, and increased support for research and development are also essential steps in fostering small business growth. Ontario, too, benefits immensely from its small businesses, which employ approximately 2.3 million Ontarians. The provincial government plays a crucial role in creating a favourable environment for small businesses to thrive. This includes reskilling the workforce, maintaining competitive tax rates, reducing red tape, and promoting investments in
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innovation and sustainability. The continuation of programs like Ontario’s Skills Development Fund remains vital to this success. With both the federal and provincial ministers of Small Business coming from Mississauga-Streetsville, there is a unique opportunity for increased collaboration to support small businesses in Ontario and Canada. Ensuring small businesses have fair opportunities to bid on provincial procurement contracts will further strengthen their ability to compete in international markets. Mississauga, with its rich cultural diversity, educational institutions, and initiatives like the IDEA Mississauga Innovation District, is a haven for small businesses. Each year, the Mississauga Board of Trade celebrates the remarkable achievements of these businesses at our Business Awards of Excellence. Their stories of success inspire us, as they underscore the incredible potential of entrepreneurship in our city. In conclusion, small businesses are not just too big to ignore; they are too important to underestimate. They are the unsung heroes of our economy, creating jobs, driving innovation, and contributing significantly to our GDP. To ensure their continued success, we must collectively support them through sound public policy, reduced red tape, and a culture that nurtures innovation and entrepreneurship. As President and CEO of the Mississauga Board of Trade, I stand alongside our small business members in providing resources, support, and advocacy for the economic and regulatory conditions needed to boost their growth potential and long-term sustainability. Together, we can ensure that small businesses continue to thrive, not just in Mississauga, but throughout Ontario and across Canada. Small businesses are not just the lifeblood of our economy; they are the heartbeat of our community. 7
MEMBER TALKS
75% of businesses increased their sustainability investments in 2022* Join a growing community of Mississauga businesses turning their sustainable development goals into outcomes by simply changing the way you landscape your property. * Deloitte 2023 CxO Sustainability Report
Request your free Greening Corporate Grounds sustainable landscaping assessment and action plan today. Learn how you can: • Reduce emissions and increase biodiversity • Decrease conventional landscaping costs • Lower the risk of property damage from flooding and extreme weather • Reduce your stormwater charge Visit cvc.ca/gcg or contact us at gcg@cvc.ca or 437-213-1614.
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MEMBER TALKS
pays for rain
YOUR BUSINESS
DEBORAH KENLEY
Senior Coordinator, Greening Corporate Grounds Credit Valley Conservation
HERE’S HOW TO PAY LESS. It’s now even easier for Mississauga businesses to qualify for a credit on their stormwater charge. Credit Valley Conservation’s Greening Corporate Grounds program works with you to identify the best ways to save.
Every corporate property owner in Mississauga pays for the rain that falls on their property. This fee, known as a stormwater charge, appears on your Region of Peel water bill. This fee is based on the amount of hard surface area on your property, like roofs and parking lots. Properties with more hard surfaces pay more. But there are easy ways to pay less that will also help reduce local flood risk and protect drinking water quality.
WHY DO YOU PAY FOR RAIN? The rain that falls on the hard surfaces of your property ends up in the city’s stormwater system–a network of pipes, ditches and catch basins that drains into Lake Ontario. Mississauga has more than 2,100 kilometres of storm sewer pipes. And while this may seem like a lot, urban development and more intense rainfall and freeze/thaw events are putting increasing pressure on an aging system. The stormwater charge provides the city with a sustainable source of funding to maintain the stormwater system and reduce the risk of localized flooding. Rainwater runoff affects the environment too. Rain that drains into the stormwater system from parking lots, roads and other hard surfaces picks up debris and pollutants, like car oil. This ends up in local rivers and creeks, which empty into Lake Ontario—the source of local drinking water. Reducing the amount of rainwater that flows into the municipal stormwater system can therefore protect local waterways and drinking water quality, and also save you money.
HOW TO REDUCE YOUR STORMWATER CHARGE Recent updates to the City of Mississauga’s stormwater credit program have made it even easier for businesses to qualify for a stormwater credit.
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Through the City’s partnership with Credit Valley Conservation’s Greening Corporate Grounds (GCG) program, businesses can save up to 20 per cent on their stormwater charge by working with us to identify propertyspecific actions that support rainwater management. These actions include delivering educational programs for employees, planting native plant gardens, or implementing salt management and/or pollution prevention plans. Purpose-driven businesses that want to do even more can save up to 40 per cent by redirecting rainwater to stormwater ponds, installing oil and grit separators, creating natural areas designed to capture rainwater runoff or by reducing the amount of hard surfaces, such as by turning underused walkways into gardens.
GET STARTED WITH A SUSTAINABLE LANDSCAPING ACTION PLAN If you’re a Mississauga business, you may be eligible to receive a free Greening Corporate Grounds Sustainable Landscaping Assessment and Action Plan to identity actions you can take to qualify for a stormwater credit. What’s included: • Initial consultation • On-site assessment and analysis of your property’s conditions • Detailed Sustainable Landscaping Action Plan • Maintenance training for landscape contractors and facility managers • Ongoing project planning support and technical guidance • Project signage • Access to additional design services and educational opportunities, like planting plans, design charrettes, workshops and employee engagement activities Book your free assessment to learn how you can save. Contact CVC’s Greening Corporate Grounds today. 905-670-1615 | gcg@cvc.ca | cvc.ca/gcg 9
ADVOCACY IN ACTION
ADVOCACY
IN ACTION
Local & Regional MISSISSAUGA TO BE AN INDEPENDENT CITY After many years of debate under Mayor Bonnie Crombie and former Mayor Hazel McCallion, Mississauga will become a stand-alone, independent city. On January 1, 2025, the Region of Peel will be dissolved while Brampton and Caledon will also become stand-alone, independent municipalities. There are many topics to address in the coming 15 months. What will happen to the key areas of responsibility at the Region of Peel? These include the police, water, and waste management. Leaders of Mississauga, Brampton and Caledon have spoken in favour of continued joint oversight of currently shared responsibilities, but time will tell whether local leaders can find common ground to fund these services.
PEEL TRANSITION BOARD APPOINTED To provide guidance on how to navigate the dissolution of Peel and the creation of three independent cities, the Government of Ontario appointed a five-person transition board. The members of the Board are professional in their respective fields which include municipal government, law, policing and government finances. MBOT will be actively engaged in issues to be addressed by the Peel Transition Board. Watch for a planned MBOT
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submission to the Board on areas of concern to the Mississauga business community.
MISSISSAUGA COMMERCIAL TAXES One of the issues that MBOT will watch closely during the process to become an independent city is property taxes. Commercial property taxes were increased 4.04% in January 2023 while the inflation rate was 6% at that time. With anticipated savings for the City of Mississauga as a result of Peel dissolution, MBOT will continue to advocate for commercial tax increases no greater than the rate of inflation. Inflation numbers in 2023 have fluctuated between 2.8% and 5.9% with the annual inflation rate registering in July at 3.3%. There are many factors that influence property tax rates; amidst all the economic pressures domestically and globally, MBOT will continue to push for fair and reasonable increases for commercial property taxpayers.
PROVINCIAL MINIMUM WAGE INCREASED On October 1, Ontario’s general minimum wage increased from $15.50 per hour to $16.55 per hour. The $1.05 per hour increase represents a 6.8% increase; this compares with an inflation rate that ranged from 2.8% to 6.9% during the 12 months from October 2022 to July 2023. The Mississauga Board of Trade supports the Ontario Chamber of Commerce’s advocacy at Queen’s Park on this issue where they have made the case that the minimum wage should be increased roughly at the rate of inflation.
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ADVOCACY IN ACTION
MORE HOMES BUILT FASTER ACT, 2022 Housing affordability has become one of the most critical issues facing governments in Canada. Elected officials from all levels of government are regularly posed questions about how housing supply can be increased. This challenge resonates with many demographic groups ranging from low- to middle-income families, newcomers and across different regions in Canada. The Ontario Government enacted the More Homes Built Faster Act nearly a year ago, but the debate about its implications continues. Municipalities have voiced significant concerns about the loss of development charges. Moreover, urban planners have pointed out that transportation infrastructure has not kept pace with population growth, which is a well-known problem for residents and businesses in Mississauga. Some initiatives are well-positioning cities like Mississauga such as the Hazel McCallion Line and the Dundas Bus Rapid Transit line. Regardless of how these issues will be resolved, MBOT will remain on the front lines advocating for a strong role for the private sector to solve the housing crisis and meet the housing needs of generations to come.
WORKING FOR WORKERS ACT, 2023 There are many issues addressed in the 2023 legislation, including: • job protection for reservists if they are deployed to emergency operations in Canada; • higher fines for corporations that violate the Occupational Health and Safety Act; • requiring employers to provide 8 weeks’ minimum termination notice for workers who work solely from home; • increasing fines for employers who confiscate foreign nationals’ passports or work permits; and, • requiring employers to provide employees with information about their job such as pay, location and hours of work and the date by which that information needs to provided. Two areas of the legislation that have been highlighted in chambers’ advocacy include: • helping foreign-trained professionals become licensed in Ontario; and, • increasing access to skilled trades by allowing high school students to transition to full-time skilled trades apprenticeship programs.
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FEDERAL MP RECHIE VALDEZ IN CABINET Summer 2023 saw Mississauga-Streetsville MP Rechie Valdez appointed to the federal cabinet as Minister of Small Business. Mississauga could not be more fortunate in being the home community for Canada’s minister for this portfolio. Look for MBOT to be engaged with Minister Valdez on issues of concern to the business community.
FEDERAL BUDGET DELIVERED; MINISTER ALGHABRA SPEAKS TO MBOT The federal government’s 2023 budget included significant investment for industry in Mississauga. Initiatives supporting numerous sectors as well as the supply chain and transportation infrastructure all contribute to the local economy in Mississauga. Subsequent to the budget’s release, the then Minister of Transport and current MP for Mississauga Centre, Hon. Omar Alghabra spoke to MBOT. Topics included effective and efficient supply chains, climate change, all-day GO train service on the Milton Line, as well as sustaining and growing airports like Toronto Pearson. MBOT engages often with decision-makers in all levels of government on policies or areas of support, as these investments ensure that Mississauga continues to grow economically.
CEBA LOAN EXTENSION DEADLINE The Mississauga Board of Trade is happy to support the extension of the deadline for Canada Emergency Business Account (CEBA) loan repayments. The federal government has said that outstanding loans as of January 1, 2024, will become a two-year term loan with a 5% interest rate. The loan is to be paid in full by December 31, 2025. Many industry groups, local and provincial chambers of commerce as well as the Canadian Chamber of Commerce have called for the current repayment deadline to be extended to the end of 2025. Why should the CEBA loan deadline be extended? As of July 2023: • 49% of small businesses are still making below normal revenues; • 50% of food service operators are currently operating at a loss or breakeven in comparison to 12% prepandemic; and,
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ADVOCACY IN ACTION
• 45% of Canada’s tourism businesses are likely or somewhat likely to close within the next three years without government intervention into their mounting debt load. Moreover, as of May 2023, only 21% of CEBA loans had been repaid. The vast majority of businesses that received CEBA loans will have a sizeable debt load that will be difficult to pay if the deadline is not extended beyond the end of 2023.
IMMIGRATION NUMBERS INCREASED: 500,000 BY 2025 The Government of Canada is aiming to admit half a million immigrants by 2025. This policy goal is rooted partially in the Canadian economy’s need for more workers, especially in industries experiencing labour shortages. Chambers of commerce from across the country – along with the Mississauga Board of Trade – have long advocated for increased immigration of people in specific professions, skilled tradespeople, and workers with expertise in specific industries. This is vital for the Canadian economy to meet its labour market needs. Through chambers’ advocacy, the federal government has responded. Additional reasons for increasing the number of immigrants are rooted in the public policy challenge of an aging society. There is a strong need to increase the number of taxpayers to fund government in the decades to come.
BC PORTS STRIKE Recent years have shown how fragile the world’s supply chain is. Problems have ranged from inadequate supplies of personal protective equipment during the pandemic to a ship running aground in the Suez Canal, and, this past summer, a port workers strike in BC. MBOT was supportive of the Canadian Chamber of Commerce’s efforts to end the BC ports strike. In the lead up to the strike (which began on July 1), the Canadian Chamber voiced its concerns about a possible strike damaging the supply chain. Once the strike began, many companies struggled, including some in Mississauga. Whether it was a problem acquiring parts for manufacturing locally or an inability to bring fresh produce from farms to market, the economy was compromised. The Vancouver Board of Trade estimates that the strike resulted in a disruption of $10.7 billion worth of goods. With the labour dispute now resolved, it is expected to take months to address the backlog of goods that accumulated during the strike.
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ADVOCACY IN ACTION
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MEMBER TALKS
CHOOSING A STRONG TRADEMARK
– SPECTRUM OF DISTINCTIVENESS
When considering a possible trademark for your business, product or service, the strongest trademarks are highly distinctive trademarks that distinguish your business, product or service from others in the marketplace.
not suggest the business, goods, or services associated with the trademark. Examples include:
Strong trademarks are registerable and are easier to enforce.
b) Arbitrary Terms
A trademark is an indicator of source and may include a word, a slogan, a design, a three-dimensional shape, a moving image, a hologram, and other kinds of signs. A business may be tempted to pick a trademark that describes a character or quality of the business, product or service. Resist that temptation because such marks are often weak marks that are difficult to register and to enforce.
Spectrum of Distinctiveness Distinctiveness is the essence of a trademark. When devising a trademark, keep in mind a spectrum of distinctiveness that ranges from: strong trademarks, to suggestive trademarks, and to weak trademarks.
Strong Trademarks a) “Coined” Trademarks The strongest trademarks are those that are made-up terms. These trademarks have no dictionary definition and do
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• EXXON for petroleum products; • LULULEMON for clothing;
Arbitrary trademarks are also strong trademarks. These trademarks are comprised of words that have dictionary meanings, but these words have no connection whatsoever to the business, goods, services associated with the trademark. Examples include: • APPLE for computers; • WINNERS for retail clothing stores;
Suggestive Trademarks Suggestive trademarks are moderate in strength. When viewed in its totality, this kind of trademark is at most suggestive (but not descriptive) of a character or quality of the business, goods, or services associated with the trademark. Examples include: • MICROSOFT for computer software; • NETFLIX for streaming services;
Weak Trademarks and Generic Marks Weak trademarks describe a character or quality of the goods/services associated with the trademark. Such trademarks may or may not be registrable.
AHMED BULBULIA Pallett Valo LLP
However, terms that are clearly descriptive cannot be registered as a trademark. Examples of descriptive terms that were held to be unregistrable include: • FLORIDA CITRUS PUNCH for citrus drink; • TEACHERS for pension fund services for teachers; Laudatory terms that praise the superiority of a business, good or service are considered to clearly describe the character or quality of the business, good or service. Laudatory terms cannot be registered. Examples include: SUPERIOR, EXCELLENT, and SUPER. Generic terms go beyond descriptive trademarks, and name the product or service itself. For example, a manufacturer of chairs cannot trademark the word CHAIR. Generic terms cannot act as trademarks because such terms should be available for all to use in the relevant art or industry. Contact Ahmed Bulbulia at Pallett Valo LLP to guide you through the trademark process in order to secure and protect your trademarks. Ahmed can be reached at abulbulia@pallettvalo.com or 905-247-4894.
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MAKE HOME
Safe for Seniors At first glance, your parents’ home may not seem like a particularly dangerous place. But there are many hidden risks for the elderly around the home. For example, poor lighting and clutter can make navigation difficult for seniors with mobility challenges. Uneven thresholds or slippery floors can cause trips and falls. In fact, falls are the leading cause of injury among older Canadians with 20-30% of seniors experiencing one or more falls each year.1 Here are some tips on how to create a safe and accessible home for your senior loved ones so they can age in their beloved home, safely and independently.
GET AN OCCUPATIONAL THERAPY ASSESSMENT Before making changes to your parents’ home, it may help to first get them assessed by an occupational therapist. Occupational therapy is a type of health care that helps to solve the problems that interfere with a person’s ability to do the things that are important to them – everyday things like: • Self-care — getting dressed, eating, moving around the house • Being productive — going to work or school, participating in the community • Leisure activities — sports, gardening, social activities.2 An occupational therapist can work with your parents to help them perform the activities they want/need to, and can suggest changes to their home that will support those activities.
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Based on the assessment, you can plan the home modifications that may need to be made. Here are a few that may help your parents live more comfortably and safely:
GENERAL Zero-threshold entry—Zero-threshold entries have no steps, helping to minimize the risk of a fall. If a zerothreshold entry to the home is not possible, consider an entry ramp with no steps. The ramp could also be used for wheelchair access if it’s needed in the future. Low-maintenance flooring—Comfort and ease of maintenance are the top things to consider when choosing flooring. Seniors’ gait and ability to pick up their feet may be hampered by arthritis or other conditions that affect the way they walk. • If your parents like carpet, keep in mind that even though it’s soft, it’s harder to keep clean. When choosing carpeting, pick a tight pile installed over a firm, thin padding that will support walking. • If hardwood is your parents’ preference, remember that a high-gloss hardwood could be a slipping hazard. So, choose a material with a lot of texture to cut down on slipping. • Avoid using area rugs.
LIGHT IT UP As many seniors have reduced vision, proper lighting is one of the most essential keys to a safe living environment. Here are some important lighting tips to help keep your loved ones safe.
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MEMBER TALKS
Use task lighting—Task lighting is specialized, focused lighting that makes it easier to perform certain activities. For example, if your loved one likes to read, make sure they have a reading light positioned over their favourite reading spot. Adding task lighting in the kitchen can make it easier and safer for seniors to prepare their meals. Make sure light controls are accessible and easy to use— Take a pass throughout each room to make sure that all light switches are within easy reach and without obstruction. • Upgrades and senior-friendly features can make adjusting the lights easier for older adults with limited mobility. For example, many lights can be retrofitted with controls that so that they turn them on and off with a clap. Other styles make it easy to turn the light on or off with a simple touch. • Motion-activated lights are important in areas such as the front entryway or the primary bathroom. • Finally, consider long-lasting LED lights, which can help decrease the need to use a ladder to swap out bulbs, another safety hazard.
TECHNOLOGY The best technology solutions for seniors are those that integrate seamlessly into their lives, supporting their habits and routines rather than changing them altogether. Here are some technologies that allow seniors greater independence.3 In-home monitoring systems—Sensors placed around the house to monitor an older adult’s movement and daily habits without using cameras that can infringe on their privacy. Sensors placed on the fridge door can track when someone is opening it; sensors under the carpet can track movement and even changes in gait. Some sensors can distinguish between the sound of a person falling and some other big noise that wouldn’t warrant the same kind of urgent attention.3 Health monitors—Wearable devices can track an older adult’s vitals, including blood pressure, temperature and cardiac health. These monitors can even send data directly to healthcare providers. Smart doorbells— When the doorbell rings, your older loved one might wonder whether or not they should answer the door. A smart video doorbell offers an easy solution. By using the doorbell’s smartphone app, your loved one can see who’s there without getting up or unlocking the door. They can even carry on a conversation through two-way audio.
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“At first glance, your parents’ home may not seem like a particularly dangerous place. But there are many hidden risks for the elderly around the home.” VYTA HELPS Helping your parents live at home as they age requires careful consideration and planning. Making the right changes to their environment can help them maintain their independence and safety. We can help keep home a safe place to be. Vyta can assist with many tasks, including: • Grab bar installation • Shower/bathtub remodel • Shower stall cut-out • Lift installations (stairlift, Hoyer lift, etc.) • Adjusting countertop heights • Widening doorways • Ramp installations • Flooring modifications (i.e., replacing carpets with hardwood) Contact our Vyta Experts today. We’ll work with you and your loved ones to understand their specific needs and curate the right mix of services so they can age in place and enjoy quality of life.
Sources 1 https://www.canada.ca/en/public-health/services/health-promotion/ aging-seniors/publications/publications-general-public/seniors-fallscanada-second-report/seniors-falls-canada-infographic.html 2 https://caot.ca/site/about/ot?nav=sidebar&banner=1 3 https://www.ioaging.org/technology/smart-technology-to-helpseniors-live-independently/
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LIFE IS MINDSET - thrive on it I will never forget the first time I realized I didn’t just seek out challenge – I thrive on it. Let me set the scene. Some years back I raised a required $3 million in venture (angel) capital for my dream business, only to have the deal pulled a week before the deposit. I’d already started to ramp up operations. My investor said, “…maybe one of my peers will pick this up – let me try.” So, I went to the beach, sat on a log with a coffee (too early for wine) and waited for – The Call. While sitting in the doldrums of my situation, I envisioned two divergent, uphill, and equally rocky paths. Literally… there were goat-worthy boulders in my picture of the future! Migrate Home - like the birds - is a unique full-service relocation business in Ontario, Canada. Powered by great people, teams are assembled to fit your unique needs, timing, and financial expectations. Together we are your lifestyle advocates, decision partners, and relocation leaders. Heather MacDonald, Keller Williams Real Estate Associates, Brokerage is a proud Migrate Home partner, because... Alone is hard. Together is easy.
Heather MacDonald heather@migratehome.ca 416-305-6159 CONNECT | 2023 ISSUE 4 migratehome.ca
Rocky Path #1 – I get funded for the business. The path forward and outcomes would, with hard work, be according to plan. Rocky Path #2 – I have no money left, and I can’t see where the path leads. Mindset strongly influences not only moments in time, but shapes what is achieved over time. What we believe shapes what we achieve – irrespective of talent. A leading researcher in motivation and mindset, Professor Carol Dweck, Stanford University teaches that mindset is adaptable. You can be a Learner Mindset or Fixed Mindset. Either way, you can adapt. Beware – a fixed mindset can leave you in the doldrums ill-motivated and even depressed.
In real estate, I see people in the doldrums all the time. Particularly many elders who deny, defer, or simply procrastinate until crisis strikes. Often it is a fixed mindset trapping them in the doldrums, and they don’t even realize it. Helping a fully formed adult adapt a mindset takes trust, and trust takes time. If adapting feels like too much of a stretch, consider the value of a decision partner who compliments a stuck mindset. My biggest challenge can be opening that relationship sooner rather than later – to give us time. Today when I envision paths, I imagine a client turning to a friend and saying “It came as a shock. A total shock. The genius of having a decision partner for my home – and it turned to be my Realtor!” Epilogue: My “dream business” wasn’t to be a Realtor. Yet what I do rewrites what can be done. I thrive on what I do and achieve for my clients. Resources: Professor Carol Dweck, TED Talks The Power of Believing.
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Bridging a Valuation Gap
IN M&A TRANSACTIONS When structuring a transaction, there is a delicate balance to strike between a vendor’s desire to maximize their sale proceeds and a purchaser’s need to affirm the value of their investment. A purchaser’s concern may be about a concentration of goodwill being tied to the vendor or a lack of financing available to complete the transaction at the proposed transaction price. A vendor may be worried about their succession or retirement planning. By closing the transaction, the parties can however generate shared value. Below, we walk through strategies for how vendors and purchasers can strike a balance, find common ground and mutually benefit from closing a deal.
Vendor Financing:
Often a vendor may agree to finance the difference in perceived value by entering into a vendor financing arrangement, which can help close the goodwill gap and act as a capital buffer for the purchaser. Under a vendor financing arrangement, the vendor and purchaser enter into a loan agreement, where that loan is subordinated to bank financing, and the details of which (i.e. repayment period, interest rate, and loan amount) are negotiated between the parties. The benefit of this arrangement is the vendor has a continued interest in the business to ensure the loan is repaid, thus keeping their goodwill close to the business, and for both parties, the necessary capital is available to close the deal.
Retaining Equity:
An equity roll serves as another method by which a purchaser and vendor can address a difference of opinion over the valuation of a business. Particularly in cases which require lender financing, an equity roll, where the vendor retains equity in the business being sold, is sometimes perceived by lenders (and purchasers) as a way to reduce the risk of a loss of goodwill by keeping the vendor involved with the business. Consequently, this arrangement allows the purchaser to be more flexible with regard to price/valuation. It also provides the vendor with a true up mechanism on value, and potential up-side in the event the business demonstrates strong performance.
KEVIN FERNANDES Partner KMB Law
Earn-Out:
An earn-out mechanism is a practical strategy that allows a vendor to bet on the future success of the business and be compensated accordingly within the confines of the measurable targets for the business to achieve. An earn-out can be a win-win for both parties if the targets are reached with pre-determined risk that if the targets are not reached, the vendor will not receive additional compensation. The main benefit of an earn-out is that it is a low-risk strategy for a purchaser but a high-risk, high-reward strategy for a vendor that aligns the parties around the continued success of the business. The above process can be simplified by engaging a mergers and acquisitions firm, including the services of a chartered business valuator. This is a typical method to produce an independent valuation of the business. When structuring a transaction, objective professionals can help close the gap between concepts of value of the vendor and purchaser, as well as provide real-time data and market information as it relates to industry and market trends. Such professionals may implement a number of methods to value the business including earnings-based, market-based, and asset-based methods. Hiring a professional can be a reliable strategy for small to medium-sized private businesses to resolve vendor and purchaser valuation disputes. Finding common ground on the valuation of a business between a vendor and purchaser can make or break a deal. The above strategies are ways to achieve common ground on the valuation of the business and may help to move the parties toward the ultimate goal of closing the deal. We at Keyser Mason Ball, LLP are experienced at drafting the appropriate legal documentation to structure the purchase or sale of the business. If you have any questions regarding this or any aspect of your business, please do not hesitate to get in touch with us at 905.276.0431 or kfernandes@kmblaw. com. We are here to help. This article is provided for general information purposes and should not be considered a legal opinion. Clients are advised to obtain legal advice based on their specific situations.
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Samuel Cummings VP & Market Lead, GTA West District, CWB
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HOW TO MANAGE YOUR COMPANY’S CASH FLOW IN
Turbulent Times 1. Improve your liquidity – especially in a higher interest environment. Cash is king, regardless of the economy. Here are some ways to free up money for your business: • Budget for higher interest rates in your projections. • Renegotiate terms to ensure you’re collecting payment faster – or renegotiate terms with vendors to push out payables. • Focus on potential incentives for your terms (such as a 1-2 per cent discount or reduced freight costs). • Consider liquidating stale or slowmoving inventory. • Delay certain projects or expansion plans (if it makes sense). Cash flow’s high on the radar for entrepreneurs in both sunny times and stormy skies. That’s why every day calls for a hundred per cent chance of good cash management practices. Ready your business for any kind of economic weather. Bank on these goto tips from CWB’s Samuel Cummings, Vice-President and Market Lead (GTA West District).
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• Have regular conversations with your banking partner about your goals and options.
2. Consider the role of “good” debt. We often talk with our clients about how to capitalize on their position. For example, one debt-adverse client invested in some equipment over the
CANADIAN WESTERN BANK
last couple of years. After working with them, we put together a financing solution that freed up liquidity and created a tax efficient debt structure. They came to see it how that debt benefits them. When you think about taking on good debt – tax-deductible debt – you’re not looking at a term of 12-months or less. Typically, the window for good debt is 10 years or more.
3. Struggling with the higher interest payments of a variable rate loan? Be proactive. The first step is to understand what the costs are. Then you should have a conversation with your Relationship Manager. We’ll look at different things with you – perhaps there are refinance opportunities or ways to bridge the short-term pain of higher rates. Some clients have passed on these additional costs to their customers. Every business is different, as is the advice we provide. So reach out to your financial partner early, have a conversation, and let’s work together to put a plan in place for you. Get cash management support from the bank for business owners. Reach out to business banking experts like Samuel Cummings at CWB’s Mississauga location: (289) 998-2688.
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BUSINESS IMMIGRATION – CANADA AND U.S. WHAT YOU NEED TO KNOW RIGHT NOW Canadian Immigration update New Minister of Immigration, Refugees and Citizenship Canada
MELISSA BABEL
B.A. (Hons) LL.B, Barrister and Solicitor Babel Immigration Law
On July 26, 2023, Prime Minister Justin Trudeau shuffled his cabinet and appointment Marc Miller as the new Minister of Immigration, Refugees, and Citizenship. Minister Miller takes over from the portfolio from Minister Sean Fraser.
Recognized Employer Pilot On August 8, 2023, the Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages, launched the Recognized Employer Pilot (“REP”) under the Temporary Foreign Worker Program. This goal of the three year program is to resolve labour shortages, and streamline processing for repeat employers involved in the program. Originally known as the ‘Trusted Employer Model’ and announced in Budget 2022, The REP will grant eligible employers access to Labour Market Impact Assessments for up to 36 months, simplifying the LMIA application process for these employers. To participate in the pilot, employers must have at least three positive LMIAs for the same occupation in the last five years from a list of occupations that have been designated as in-shortage and supported by Canadian Occupational Projection System data. Employer applications for REP will close in September 2024.
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New Express Entry Exemptions for Foreign National Physicians Seeking Canadian PR On April 25, 2023, Immigration, Refugees and Citizenship Canada introduced measures to facilitate the issuance of permanent resident visas for foreign national physicians providing publiclyfunded medical services in Canada. These new exemptions will be in effect indefinitely until revoked by the Minister. The new measure considers the reality of self-employment for physicians and is expected to allow more foreign national physicals to qualify for permanent residence in the Express Entry system.
New Permanent Residence Pathway for Ukrainians with Canadian Family Members On July 15, 2023, Canada unveiled a new pathway for permanent residence for Ukrainians who have temporary resident status in Canada. To be eligible for the program, applicants must have one or more close family members who is a Canadian citizen or permanent resident.
Canada adds 13 More Countries to Travel Visa-Free On June 6, 2023, IRCC announced the addition of 13 countries to the electronic travel authorization (eTA) program. Eligible travelers from these countries CONNECT | 2023 ISSUE 4
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who have either held a Canadian visa within the last 10 years or possess a valid United States Non-Immigrant Visa can now apply for an eTA instead of a visa when travelling to Canada by air. Eligible countries that can benefit from this newly implemented change are: • Antigua and Barbuda • Argentina • Costa Rica • Morocco • Panama • Philippines • St. Kitts and Nevis • St. Lucia • St. Vincent and the Grenadines • Seychelles • Thailand • Trinidad and Tobago • Uruguay
U.S. Immigration Updates USCIS Launches Online Appointment Request Form On August 21, 2023, U.S. Citizenship and Immigration Services launched a new online form for individuals, attorneys and accredited representatives to request an inCONNECT | 2023 ISSUE 4
person appointment at their local field office without having to call the USCIS Contact Centre. This new form is intended for individuals or legal representatives who need in-person appointments at a field office for ADIT stamps, Emergency Advance Parole, Immigration Judge Grants, and other related purposes. It is important to note that this is not a self-scheduling tool. Instead, the USCIS Contact Center will review submitted forms and the availability of in-person appointments. Depending on the appointment’s urgency and reason, the Contact Center may contact individuals either by phone or email.
USCIS Will Conducted Second Random Selection from Previously Submitted FY2024 H-1B Cap Registrations On July 27, 2023, USCIS announced that they planned to run a second lottery of FY 2024 H-1B cap registrations. This decision was made due to a shortage of H-1B cap petitions received during the initial filing period from April 1, 2023, to June 30, 2023. The second selection process involved the random selection of additional electronic registrations that were previously submitted. Petitioners who have been selected will have their myUSCIS accounts updated to include a selection notice, informing them of when and where to file.
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WHAT MAKES AN ORGANIZATION
A Top Employer?
SHADY HANA
Professor, Project Manager Academic and Business Initiatives Pilon School of Business
Earlier this year, Sheridan topped Forbes Magazine’s annual ranking of Canada’s Best Employers — marking the fourth straight year the institution has appeared on the prestigious list. Sheridan also ranked 10th on Forbes’ recent list of Canada’s Best Employers for Diversity. Here, Sheridan Pilon School of Business professor Dr. Shady Hana — Project Manager Academic and Business Initiatives discusses the keys to being considered a top employer. Oftentimes, when organizations try to set themselves apart as a top employer, they make the mistake of only being concerned about what’s happening outside, whether that be competitors or clients or the environment. Those are important particulars to monitor, but the biggest key is not what is happening on the outside — it’s what is happening on the inside. Investing in learning, as well as in training, can make all the difference. McLean and Company’s 2023 HR Trends Report spoke to how three of five employees are leaving organizations due to a lack of visibility of learning and development opportunities. If they can’t see where they might be able to advance in the organization, they often go elsewhere. Another integral aspect is to create your own customized competency framework. Looking
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at best practices is always a good idea yet emulating them isn’t necessarily the best case for your company. Fostering diversity, inclusion and equity has always been important, and creating a sense of belonging is just as important — providing an environment in which employees feel safe to engage and grow while also maintaining the organization’s direction. It’s also critical to constantly review your work processes, policies, procedures and governance to make sure they continue to be meaningful, sustainable, efficient and equitable across the board. Sheridan is in a very unique position to achieve great things in a very different way because we’re not a college and we’re not a university. We’re different. We are Sheridan. So that puts us in a unique position to create our own competency frameworks and new ways of growing that will work for tomorrow and beyond. To borrow a saying from McDonald’s founder Ray Kroc, “As long as you’re green, you’re growing.” To me, that is one of Sheridan’s strengths — that we continue to be green and growing all the time. What we’re doing now is better than what we were doing five years ago.
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info@cacdcanada.org +1 (905) 277 8455 32
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The impact of the COVID-19 pandemic is a shared reality that has touched every corner of our lives. However, as we delve deeper into its layers, a striking revelation emerges: the experience is not uniform. When applied to small non-profit organizations serving racialized groups in Canada, this revelation unveils a compelling narrative of diverse needs, formidable challenges, and undeniable strength. The pandemic has operated as a magnifying glass, amplifying pre-existing social and economic disparities. In this light, the indispensable services offered by non-profit organizations catering to racialized communities have experienced unprecedented demand. Requests for vital support, ranging from nourishment and housing assistance to mental health services and educational resources, have soared. Yet, here lies the paradox-meeting this intensified demand with constrained resources and limited capacity is an uphill battle. Embracing these circumstances, these small non-profits wrestle with the very essence of sustainability. The prevailing economic uncertainty has challenged their reliance on grants, donations, and fundraising events to fuel their noble causes. The result? Diminished funding prospects, dwindled donor backing, and heightened competition for already scarce resources. The resounding consequence is a poignant financial strain that hampers their potential to meet their community’s burgeoning needs, thrusting them into innovative resourcefulness. As the world swiftly pivoted to virtual platforms, an unassailable divide came to the forefront digital divide. In the quest to provide remote services, conduct virtual gatherings, and ensure uniform access to information, the stark reality emerged that many individuals and communities served by these organizations lacked reliable internet access, digital devices, and essential tech-savviness. These impediments, particularly for racialized groups, underscored the urgency of bridging this digital chasm. Language and cultural diversity, invaluable facets of these non-profit organization’s outreach, emerged as areas requiring careful navigation. The diverse tapestry of the communities they serve brought forth language barriers and an urgent need for culturally appropriate communication and interpretation services. Adapting to these needs became a non-negotiable to ensure inclusivity and efficacy. Moreover, the pandemic bore witness to community member’s unique mental health challenges, especially within racialized groups. Elevated stress, anxiety, and trauma stemming from the disparate impacts of COVID-19 cast a heavy shadow. In response, these organizations pivoted their programs and services, demonstrating their unwavering commitment to addressing these complex mental health needs. Navigating government relief initiatives introduced another layer of intricacy. The labyrinthine application processes, eligibility criteria, and administrative hurdles posed a formidable barrier. For organizations with limited organizational capacity or language barriers, accessing crucial financial assistance became a challenge that impeded their continuity and service to the communities they cherish. The pandemic echoed disruptions, shattering existing partnerships, limiting networking opportunities, and casting uncertainty upon future collaborations. The shift from in-person interactions to the virtual realm created an environment where forging and sustaining robust relationships with funders, community organizations, and stakeholders was akin to navigating uncharted waters. And yet, within these challenges, a remarkable tapestry of resilience, adaptability, and innovation emerged. These small non-profits showcased their mettle, fashioning innovative approaches to tackle the evolving needs of their communities. Collaborative ventures, community alliances, and resource-sharing begin to light the path, revealing a transformative potential in the face of adversity. As we stand at this juncture, the narrative of these non-profit organizations beckons us to embrace their journey. The challenges faced, the triumphs celebrated, and the spirit of unity exemplified lay the groundwork for a more equitable and inclusive post-pandemic landscape. It is a landscape where these organizations, together with their communities and allies, craft a tapestry of change that echoes with the strength of shared purpose and collective hope. CONNECT | 2023 ISSUE 4 33
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