CONNECT 2023 - Summer Edition

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IN THE CITY Summer

Members and friends of Mississauga businesses, I hope you are all enjoying summer in the city. As we soak in the warmth, it’s an opportune time for contemplation. I am thrilled to highlight some of the exciting events unfolding in our community.

Recently, MBOT (Mississauga Board of Trade) commemorated our thriving business community with the highly anticipated annual Business Awards of Excellence. It was truly a delight to recognize the exceptional and diverse enterprises that make our city flourish. With an impressive tally of 140 nominations across eleven categories, we brought together around 350 individuals for an evening of celebration. This year, we witnessed a first in the history of the awards, as we announced co-winners for the prestigious Business Person of the Year title: Le Luong, the CEO of Nurture Growth Bio-Fertilizer Inc., and Paul Meo, the CEO of NTN Bearing Corporation of Canada Ltd. The event was attended by esteemed nominees, who were joined by numerous team members representing their respective organizations. The MBOT Awards serves as a powerful reminder of the significance of celebration and acknowledgement, reinforcing positive efforts and fostering future success.

As we take a closer look at our city, construction activity is thriving in Mississauga as it embarks on ambitious undertakings. Prioritizing the construction of new housing, we witness a multitude of ongoing projects with even more on the horizon. The Hurontario LRT project, alongside various other initiatives taking shape throughout our city streets, may result in occasional delays and disturbances. Similar to our policy endeavors, construction demands time and presents its fair share of challenges. Nevertheless, these collaborative efforts play a vital role in establishing a sturdy foundation for long-term prosperity within our community. Mississauga is actively constructing for the future, solidifying its position as one of Canada’s largest cities and driving economic well-being for our city, province, and nation.

Poised to evolve into an independent city and embark on an exciting new chapter in its history, Mississauga stands on the threshold of a transformative journey. At MBOT, our team of dedicated staff and volunteers is unwavering in their commitment to ensuring that the interests of businesses across the city are thoughtfully considered during decision-making processes. As a community, we possess the remarkable opportunity to shape our collective future, and MBOT will employ its resources to secure the most favorable outcomes. It is imperative that businesses possess a strong presence in policy direction discussions, and our MERG (Mississauga CEOs’ Collective Voice) group will provide a unified voice, representing the concerns of Mississauga’s esteemed CEOs on pivotal matters. This journey necessitates time and effort, and we may encounter a few bumps along the way. However, rest assured that MBOT will diligently advocate for the voice of our business community, leaving no stone unturned.

Embrace the joys of the summer season and seize the opportunity to celebrate accomplishments with your teams. 

STEVE RHONE

2023 MBOT Chair

President & CEO, Weston Forest

2023 BOARD OF DIRECTORS

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

• 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.

• Steve D’Agostino, Avega Inc.

ADVERTISING INQUIRIES: Solange Barcena - sbarcena@mbot.com

EDITORIAL INQUIRIES: Katelin Mowder - kmowder@mbot.com

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.

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

701-77 City Centre Drive Mississauga, ON L5B 1M5

T: (905) 273 6151

E: info@mbot.com

W: www.mbot.com

TREVOR McPHERSON President & CEO Mississauga Board of Trade

This August will mark my two-year anniversary as President and CEO of the Mississauga Board of Trade (MBOT). I was fortunate to join a vibrant organization with a talented and dedicated staff team, a knowledgeable and professional Board of Directors - and, of course, a healthy balance sheet. Much credit goes to my predecessor, David Wojcik, for his leadership in strengthening the organization and ensuring that MBOT remained relevant and resilient through the worst of the pandemic. Together with our incredible members, it now feels we collectively are “back” – and we are ready for what is next for both MBOT and the City of Mississauga!

Several issues and recent developments have already made 2023 a consequential year for Mississauga’s business community. Following weeks of uncertainty about the future of the Region of Peel, the Province introduced Bill 112, the Hazel McCallion Act, on May 18th, creating three, singletier municipalities of Mississauga, Brampton, and Caledon. While the proposed legislation answers some outstanding questions (e.g., “Are we headed towards an amalgamated City of Peel?”), countless others have been created. A 5-member panel appointed by the Ford government will determine how regional assets will be distributed and how certain services that are currently shared by these municipalities will continue under a new governance framework. Understandably, there are also concerns about the future of

LOOKING OUT FOR OUR MEMBERS IS

Job #1

current Region of Peel staff, creating an additional sense of anxiety for these individuals. The sooner these questions are answered, the better for all involved. For its part, the Mississauga Board of Trade will be following developments closely and advocating as appropriate to ensure that there are no adverse or unintended consequences to our diverse and growing business community. This is our promise to our members as the City of Mississauga prepares to stand on its own without a regional level of government between it and the province. At MBOT, we will be looking to ensure that the savings and process efficiencies promised are realized by MBOT member businesses.

Of course, there are many other fundamental challenges on the minds of business leaders this summer as they plan for growth. It is clear that competition for talent and the need to “train up” for the skills required today and into the future will only continue for the next number of years. Our economy is experiencing transition on several levels. MBOT’s Talent Acquisition and Management Forum (held this past February) was an opportunity to share best practices and engage with Canada’s Immigration Minister on the federal government’s commitment to increase the number of new immigrants to the country, including an agreement with Ontario to double our province’s portion of economic immigrants by 2025, going from 9,000 in 2021 to 18,000. Of course, new immigrants (including international

students) need affordable places to live – and this is another challenge for businesses in Mississauga and across the GTA. On this front, MBOT will be working with City officials to convene a business roundtable on the housing issue in early autumn.

I am excited about some of the new areas of work we are pursuing with our members and stakeholders. On June 1, 2023, the Mississauga Climate Leaders Program was launched, and it was wonderful to see approximately 150 people attend the kick-off event. MBOT is proud to partner with the City and Partners in Project Green on this initiative. Mississauga is already home to several cleantech companies, and this program will serve to educate and inspire businesses to take action to not only reduce their carbon footprint, but also increase their competitiveness, save energy costs, and attract top talent. Another area that is become very real for our members is the potential impact (positive and negative) of artificial intelligence (AI). While Chat GPT has awakened all of us to this powerful technology, it is important that we understand how it is changing business practices and reshaping the nature of work.

At MBOT, our team looks forward to collaborating with our members to connect, champion, and advance the interests of our business community as we tackle our shared challenges and opportunities. 

75% of businesses increased their sustainability investments in

Join

Less is more:

5 TIPS TO SAVE TIME, MONEY, AND THE PLANET

If you own, rent, or operate a commercial property, the choices you make around landscape management directly impact the environmental sustainability and the public image of your business.

Here’s the good news: aligning your property maintenance practices with consumer values is likely easier than you think. In fact, sustainable landscaping is about working with nature rather than against it, and because of this, it actually requires less maintenance — a win-win for the environment and your bottom line.

So, let’s start by focusing on all the things you don’t need to do this year:

DON’T CUT BACK THE PLANTS

Cutting back all your plants in the fall can destroy an important winter wildlife habitat. This year, consider leaving some native wildflower and grass stalks standing to provide birds and pollinators food and a place to nest.

DON’T TURN THE SOIL

Turning or tilling the first few inches of soil to prevent weeds is completely unnecessary and often damages soil structure, making your property more susceptible to erosion. Instead, save time and effort by simply applying 3 to 4 inches of good quality natural mulch around your plants.

DON’T SHEAR THE SHRUBS

Continually shaping shrubs with shears may be something contractors recommend, but it can be hard on the shrubs. Shearing promotes disease and the growth of thin, pest-prone growth shoots. Over time, your shrubs will begin to weaken and look patchy or half-dead. Instead, dead branches can be pruned annually.

DON’T BLOW THE LEAVES

Each winter, beneficial insects like butterflies and ladybugs rely on fallen leaves and other organic debris to cover and insulate them from the elements. Leaf blowers not only destroy their habitat, but they also use a considerable amount of fuel. Give these insects a chance to warm up and do their thing by letting leaves naturally compost on-site or simply wait until late spring to move them.

DEBORAH KENLEY Senior Coordinator, Greening Corporate Grounds Credit Valley Conservation

DON’T KEEP SO MUCH LAWN

One of the main problems with lawns is that they don’t benefit or contribute to native ecosystems. If the only thing you have on your property is grass, the area is essentially a pollinator desert. On top of discouraging biodiversity, lawns also require heavy resources to maintain (gas, labour, water), they negatively impact soil quality, and they don’t absorb stormwater the way a garden, meadow or forest does. So, consider replacing part of your lawn with groups of native trees or wildflowers to support healthy bees, birds, butterflies, and local water systems.

Ready to learn more? Credit Valley Conservation is offering businesses a free sustainable landscaping assessment and action plan through its Greening Corporate Grounds program. Visit cvc.ca/gcg for more information or connect with us at gcg@cvc.ca 

TITLE SPONSOR

Mississauga Board of Trade’s 2023 Business Awards of Excellence celebration was hosted on Thursday, May 25th, at the Luxe Convention Centre at Hyatt Place Toronto/Mississauga Centre. The event recognized Mississauga businesses and professionals whose business achievements or community involvement have made significant contributions to the economic and social well-being of the City of Mississauga. This annual event brings together businesses, government, and industry leaders for a night of celebration and prestige.

HOME CARE OR RETIREMENT HOME—

What’s best for my senior loved ones?

When researching living arrangements for your senior loved ones, you’ll likely find two main options: 1) retirement homes, and 2) the one most older adults prefer—aging in place.

Living at home for as long as possible — known as aging in place — is the absolute top priority for 96 per cent of Canadians 55 and older. In fact, across Ontario alone, nearly 900,000 seniors live at home and receive home care, compared to the 60,000 seniors who live in retirement homes.1,2

BENEFITS OF AGING IN PLACE

There are many reasons why seniors want to stay at home for a long as possible, including:

1) FAMILIARITY

Living at home means that your older loves ones remain in a familiar, comfortable place that is filled with meaningful memories. For many seniors, the emotional value of home is far more important than its monetary value.

They may also find it easier to move around a space they already understand. Learning to navigate new spaces can feel overwhelming for many seniors.

From an emotional well-being standpoint, living in a familiar place will empower your seniors to live with a high quality of life.

2) INDEPENDENCE

Living at home allows seniors to maintain their usual routine, rather than having to make changes, such as eating at certain times and being surrounded by new people. Having to adjust their daily life can be very stressful and upsetting for seniors.

The home environment helps older adults to stay engaged with their normal daily activities, including regular

interaction and companionship with family and community. It allows for more choices and encourages active participation in their own lives.

THE DIFFERENCES BETWEEN RETIREMENT HOMES AND HOME CARE

Retirement homes are privately paid residences for seniors who can direct their own care. Anyone can choose to live in a retirement home as long as the home is able to support their medical needs and live without much assistance. Some, but not all homes, provide assistance with personal daily needs (bathing, dressing, etc.), sometimes at an additional cost.

In contrast, home care brings the services your loved ones need to their home instead of them having to move to the services. Your loved ones can remain in the comfort of their home, and maintain their independence while still receiving the care that they need. Home care can help with simple needs, such as meal preparation, to more complex personal needs, and can also include other services like home maintenance or even walking the dog. Home care can be a cost-effective alternative to staying in a retirement home.

WHAT’S THE COST?

Retirement homes—The cost of living in a retirement home can vary depending on the type of accommodation and the number of care services provided. In Ontario, the cost of a private room in a retirement home ranges from $1,500 to $6,000 per month, with other personal services provided at an additional cost.

In Ontario, retirement homes are not publicly funded by the government the same way that homecare services are. This means that the cost of living in a retirement home can be much more expensive compared to the cost of home care services.

In a retirement home, residents are responsible for the full cost of their:

• Rent

• Meals

• Care services purchased through the home

• External care services that are not publicly funded.

Home care— Home care in Ontario can be paid for privately by seniors and their families. In many cases, services can also be publicly funded by the government.

In fact, figures from Statistics Canada show that 91% of households reported no out-of-pocket costs for homecare nursing services, and 79% reported they didn’t have to pay for other home care services (physiotherapy, occupational therapy, speech-language pathology, and nutrition counselling). 3

You can customize any personal homecare services that may help your seniors age in place, as well bring in home maintenance services when needed.

Compared to the cost of other add-on options that may involve your loved ones leaving her beloved home, it can actually be more affordable for them to age in place and have the services brought to them.

WHAT IS VYTA?

Vyta is designed to alleviate the stress on family caregivers by making caregiving more manageable.

At Vyta, we understand the different emotions that come with caring for your aging loved ones – the joys and the challenges. That’s why we created Vyta – a simple, all-in-one solution thoughtfully designed to provide you with the relief you truly deserve when helping your loved ones age in place.

“Vyta – a simple, all-in-one solution thoughtfully designed to provide you with the relief you truly deserve when helping your loved ones age in place.”

Our dedicated Vyta Experts will be your trusted partners at every step of your caregiving journey. From providing continuous support and guidance, especially through those difficult conversations with your family, to coordinating multiple service providers for your loved one’s home and aging-in-place needs, we have you covered!

With Vyta you can now enjoy peace of mind and the freedom to prioritize what matters most – spending quality time and creating meaningful memories with your loved ones!

WHAT SETS VYTA APART?

All-In-One Solution— Our convenient all-in-one solution is designed to effortlessly coordinate and manage all your loved ones’ aging in place needs under one roof and one bill. Say goodbye to juggling multiple service providers and handling numerous bills. Dedicate more time to what matters most!

Affordable Option— Explore our packages for a more affordable option –avoid having to research expensive retirement homes, their costly addons, or multiple single-service providers. A short call with our team could save you more than just time.

Home and well-being packages

focus on what truly matters – creating meaningful memories with your senior loved ones while enjoying peace of mind.

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.cbc.ca/news/canada/toronto/ ont-home-care-1.6754725#:~:text=%2C%22%20 she%20said.-,About%20900%2C000%20 Ontarians%20receive%20home%20care%20 annually%2C%20with%20about%20730%2C000,according%20to%20Home%20Care%20 Ontario.

Dedicated Vyta Expert — Experience peace of mind with your dedicated Vyta Expert – a single point of contact who listens, guides, and coordinates all your loved ones’ services and providers. Simplify caregiving and enjoy expert assistance every step of the way. Nothing moves you like

- Simple and convenient solution that saves you time, money, and stress. Regardless of the chores and responsibilities you currently take on for your loved ones, we have the perfect package to meet your needs. Each package offers the simplicity of a single point of contact and one fixed-rate monthly bill, allowing you to

PDF/X-1a:2003

2 https://www.orcaretirement.com/ 3 https://www150.statcan.gc.ca/n1/pub/82003-x/2018009/article/00001-eng.htm

EVENTS Re-Cap

EXECUTIVE HE

HONY RUCCI

Palma Pasta

BASICS OF CORPORATIONS AND CORPORATE LAW

MARCH 21, 2023

SPONSOR

March 2nd, 2023

MATTHEW CZERWINSKI ASSOCIATE LAWYER KMB LAW

egistration & Breakfast reside Chat etworking

RS:

Port Credit Yacht Club

115 Lakefront Promenade, M

ALGHABRA, MINISTER OF TRANSPORT

APRIL 3, 2023

SPONSORS

CHRIS BAUR VICE PRESIDENT, COMMERCIAL FINANCIAL SERVICES RBC ROYAL BANK

JOSH NYE SENIOR ECONOMIST RBC ROYAL BANK

SPONSOR

MBOT Webinar

SERIES SPONSORS

lunch WITH HON. OMAR

Good Morning Mississauga (GMM)

APRIL 5, 2023

SERIES SPONSOR

MBOT Webinar

THE INS AND OUTS OF ONTARIO’S CONSTRUCTION ACT

APRIL 25, 2023

SPONSOR

VENUE SPONSOR

2023 Mayor’s Annual State of the City Address HER WORSHIP BONNIE CROMBIE

APRIL 18, 2023

MELISSA WRIGHT LITIGATION ASSOCIATES KMB LAW

YOUSEF KAMAL LITIGATION ASSOCIATES KMB LAW

TITLE SPONSOR GOLD SPONSOR SILVER SPONSORS

MBOT annual POLITICIANS RECEPTION

APRIL 12, 2023

SPONSORS

From The Corner Office

WITH GEOFFREY SMITH CEO AT ELLISDON INC.

MAY 4, 2023

SPONSORS

Good Morning Mississauga (GMM)

MAY 10, 2023

SERIES SPONSOR

VENUE SPONSOR

Fireside Chat WITH KARLI FARROW, PRESIDENT AND CEO AT TRILLIUM HEALTH PARTNERS

MAY 16, 2023

SPONSORS

MBOT Webinar TAX STRATEGIES FOR PRIVATE BUSINESS OWNERS

MAY 17, 2023

SPONSOR KALIN MCDONALD MANAGING PARTNER S+C PARTNERS LLP

Migrate Home - like the birds - is a unique full-service relocation business in Ontario, Canada.

Powered by great people, teams are assembled to t your unique needs, timing, and nancial 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.

GREAT QUESTIONS Lead to Inspired Motivation

2) Consider the image on the left – take your time and attention – study it.

3) Start writing questions that come to mind because of that image. As questions are produced – your questions or even a single word, may produce related questions! Write them all down – exactly as spoken.

4) Transform your questions:

a. Turn open-ended questions to a closed-ended question form, and

b. Turn your closed-ended questions, into an open-ended question form.

5) Discuss to prioritize your questions, and number the top 6 questions.

Heather MacDonald

heather@migratehome.ca

416-305-6159

migratehome.ca

Why not get more for your money, and take the time you need? Here is one of the tools I use with my long-term clients and their families. This tool called QFT, which uses the power of great questions to blow apart perceived problems.

QFT is short for the Question Formulation Technique, a tool used by thousands of educators around the world, and now ME. I use it (as a facilitator) to help clients and their families realize the best path for housing choices over time.

It is a strong communication tool. It sidesteps judgement, leaps over preconceived ideas, and lands right on top of inspiration! If you are a little “stuck” this session really helps to get you “unstuck”.

Try it now without me! Here is how it works:

1) The group needs a scribe – this is the person who will write down your questions verbatim without commentary or judgement.

a. Trying on your own? Then just put it on paper – whatever pops into your head – word for word.

6) Discuss the top 3 questions in depth, and any next steps. Next steps could be a bit of research, or even pursuit of new ideas.

7) Reflect on what you learned. Share your reflections. This step often produces the best value – don’t skip it!

Tools like this one were created for my longterm clients. These are people who do not expect to move anytime soon, yet this next move will be complex in one or more ways. I only take on 10 new long-term clients each year.

Overtime these clients have me as their real estate and relocation advisor. These extra and customized services evolve as my client’s needs evolve. With minor exception the extra service DOES NOT COST EXTRA, and fees are deferred and not paid until the property is sold.

Why not get more for your money, at your pace, with professionals that walk the talk?

I know you have questions – so call me! 905-271-5135. Because every question is a great question!

Since 1989

WHAT OUR FACTORING PROGRAMS DO FOR OUR CLIENTS:

Improve Cash Flow and Reduce Credit Risk

Reduce employee workload by outsourcing credit checking, invoice processing and collection duties

Receive invoice payments by direct deposit when money is most needed

Have ready and available cash to pay suppliers and efficiently grow the business

• Cash for Invoices in 24 Hours

• No Application fees or hidden fees

• Customized low rates

• Free credit checks on your customers

• Non recourse Program (Credit Guarantee)

• Dedicated Account Executives

• Real Time Online Access

J D Factors specializes but is not limited to the following industries:

• Transportation

• Manufacturing

• Oil and Gas Services

• Temporary Staffing

The Pandemic, Canadian Businesses, and the Government’s Response

The financial burdens which the COVID-19 pandemic put upon Canadians was especially felt by Canadian businesses and their owners. The unprecedented level of decreased revenue led many business owners to consider the stark possibility of closing for good when the most basic of expenses and employee wages suddenly became unmanageable.

To address these effects on the cash flow of small businesses, the Canadian government began instituting financial relief programs. The Canada Emergency Business Account (CEBA) was one such program designed to alleviate economic tension.

If you are a CEBA loan holder, then you likely enjoyed the much-needed benefits of the program during the pandemic’s difficult economic climate. However, the deadline to repay the principal and any interest charges incurred is quickly approaching.

Developing a CEBA Repayment Plan

It is wise to build a repayment plan as soon as possible, especially if you’re not completely confident in your understanding of your CEBA loan’s conditions. A repayment plan is especially crucial if you borrowed an amount approaching the upper limit of $60,000.

Repayment of the loan is required in full by December 31, 2023 (this deadline was extended beyond the initial deadline of December 31, 2022). Within the updated 2023 deadline, your repayment won’t accrue any interest so your payment strategy can be somewhat flexible. There’s also no prepayment deadline, whether you pay back the principal infull or in-part. As we approach the deadline, you can align your repayment strategy with your cash flow and budget.

Finding the Money to Meet the December 31, 2023 Deadline

The harsh reality of today’s economic climate is that many businesses still don’t have the means to pay their CEBA loan by the end of the year. Factoring is a great solution for businesses who fall into this category. At J D Factors, we offer these businesses our factoring services in which a percentage of each invoice factored is kept in reserve until there is enough to pay back the CEBA loan by the December 31,

2023 deadline. The advantage of meeting this CEBA deadline is that your company can keep the forgiveness portion of the loan (see details below).

It is important to note that the terms of CEBA will change following the December 31, 2023 deadline. The terms of repaying CEBA after the December 2023 deadline should be considered when deciding when to repay the CEBA loan.

Repayment After the Deadline

After the December 31, 2023 deadline, the CEBA loan becomes a two-year loan and begins accruing interest at a rate of 5% on January 1, 2024 (the interest must be paid monthly). The principal of the loan must be repaid in full by December 31, 2025. If this is still impossible for you, then it is in your best interest to evaluate your eligibility for loan forgiveness.

CEBA Loan Forgiveness

If you borrowed less than the initial maximum loan amount of $40,000, you are eligible to claim 25% of the loan as forgiveness. If the economic conditions of the pandemic caused you to borrow more than $40,000 and up to the maximum of $60,000 then you can claim 25% of the initial $40,000 as forgiveness and 50% on the additional amount. To guarantee qualification for loan forgiveness, 75% of the initial loan and 50% of the subsequent amount must be repaid by the December 31, 2023 deadline. If you do qualify, the maximum forgivable amount for borrowing the full $60,000 limit is $20,000.

Healthy Cash Flow, Healthy Repayment Strategy

To avoid further financial stress associated with the repercussions of COVID-19 and the CEBA loan, it may be wise to add invoice factoring to your strategy. Factoring will help you maintain a healthy cash flow so that you can draft a CEBA repayment plan with less anxiety. An invoice factoring company can pay any of your invoices immediately and collect payment from your clients later. With a steady cash flow, you’ll be better able to save for repayment or make monthly interest payments. Learn more about J D Factors to see how invoice factoring can help you repay your loans. www.jdfactors.com or contact us today 905-501-5000. 

“GOOD” NAMES THAT MAKE FOR

“Bad” Trademarks

NOTES

• KEEP IT SHORT AND SIMILAR FORMAT.

• MINIMALISTIC

• DISTINCTIVE

• CUSTOMER KNOWING YOUR PRODUCT; SUGGESTIVE

• SEE PRESENTATION TODAY AND ARTICLE

Whether you are part of a startup or an expanding business, it’s certainly worth spending at least a few minutes to consider your strategy around one of the most valuable assets of your business. Too often people rush to stick with the first name they come up with instead of at least doing a quick Google search to see if someone is already using a similar name in the same industry. Other times, the name is simply too generic. But what about other names that would appear to be “good” but actually make for “bad” trademarks?

“Good” Names

A good name is typically one that is memorable and easy to recognize, so that people can distinguish your product or service from competitors. A name that inherently matches your product or service is also a plus, but that can also lead to the first potential pitfall.

It may be tempting, especially for a business just starting up, to pick a name that allows customers to know exactly what the business is selling. However, names that are clearly descriptive of the character, quality or geographic origin of the product or service you provide cannot be registered as a trademark. The rationale being that no one person should have the exclusive naming rights to call their candy “Sweet” for example, or to call themselves “The Real Estate Agent of Mississauga”.

AVERY LEE Associate & Trademark Agent KMB Law

Unique Last Names

It may also be tempting to put your family name on your business followed by the name of the services you provide, especially if your last name is less common. However, unless your last name happens to have another meaning in the ordinary language or you are the only one in Canada with that last name, it will generally be considered a “bad” trademark. The rationale is that someone else with that last name should also be allowed to use it as a name for their business even if you used it first.

There are exceptions to this, of course, as there are many famous brands to point to (e.g., many fashion brands, McDonald’s). But the Trademarks Office has become more strict over the years, and now you would have to provide evidence that you have used a last name extensively in Canada such that it has become distinctive of your business before you can register it as a trademark.

Minimalistic Logos

Similarly, “good” or minimalistic logos that only include one letter, colour or a simple shape can make for “bad” trademarks unless your company is already famous. This has been a noticeable trend over the past decade where big companies have rebranded to make their logo designs simpler. That’s the power of a trademark when you can strip away many elements of a logo and your customers are still able to recognize that it is associated with a particular company, product or service.

Please contact us by email at trademarks@kmblaw.com to learn more or to begin the process of making money with your trademarks.

This article is provided for general information purposes and should not be considered a legal opinion. Clients are advised to obtain legal advice on their specific situations. 

Understanding THE ROAD AHEAD

Automotive dealers face an industry turbocharged for change – your bank should understand the road ahead

Today’s fast-evolving business landscape makes it more important than ever for Canadian auto dealers to have a flexible financial partner riding shotgun.

In fact, Canadian Western Bank’s Gus Masi says the amount of change in the auto industry lately may be the most he’s seen in a career spanning nearly three decades.

“I’ve been in the dealers’ shoes, on the manufacturing side, and also the banking side,” says the AVP and Group Lead of the bank’s automotive finance group, who – in addition to experience in manufacturing sales and distribution, parts and service, finance divisions, and as an executive at a large dealership group – is a self-professed car nut.

Masi’s currently helping dealer-owners navigate three trending lanes of change: post-COVID challenges, electrification, and consolidation.

“At this point, the impact of COVID, and how it evolves, will be a factor for dealers for at least the next few years,” he says. He explains dealers are not only continuing to steer through supply chain issues, but the higher interest

rate environment is also elevating borrowing costs to the possible detriment of consumer demand.

Added to this is the rise of electrification. The impacts of this potentially industrytransforming trend could go beyond just selling electric vehicles. The new technology requires dealer-owners to consider significant capital outlays to modernize showrooms, install charging stations, restock parts departments, retrain staff and technicians, and upgrade service capabilities.

It’s not all bumps in the road, though. Masi says an industry shift towards consolidation presents opportunities to offset some of these challenges. He points to two driving forces behind consolidation: first up is economic and market uncertainty, which is prompting many aging dealership owners to sell; second, some younger owners with a small number of dealerships are realizing that they need to get bigger to succeed.

While expansion means taking on significant debt, Masi explains that consolidation can also lower costs for owners on a per-dealership basis because they can merge core business

CANADIAN WESTERN BANK

functions for numerous dealerships under one umbrella. He adds that taking on several brands also diversifies sales channels and mitigates risk – like the unknowns around how electric vehicles will affect dealer operations.

Continuous change makes flexibility and adaptability a necessity for both the dealership owner and their financing partner. Masi describes a recent scenario involving his team and a Vancouver dealer group seeking to buy out a partner and purchase real estate.

“They were looking for some unconventional terms compared to what the market would typically do. We were able to assist them and beat out another leading financial institution. Our rate was competitive, and the terms matched what the client was looking for to support cash flow flexibility,” he says. The client has since enlisted CWB’s help to build another dealership. “Dealers need partners who understand the business and the nuances involved. We are not the financial partner who says, ‘Hey, we will take all the risk.’ But we are the financial partner who says, ‘Let’s listen to you.’” 

Connect with the Dealership Banking team: dealership@cwbank.com

CHANGIN’ TIMES DEMAND

creative and innovative thinking

That classic phrase rings as true today as when Bob Dylan first sang it nearly six decades ago — particularly in the business world, where the Fourth Industrial Revolution, rapid advances in technology, environmental and social challenges, economic turbulence and post-pandemic recovery present unprecedented challenges that have us all on uneven footing.

In the face of such a dynamic industrial landscape, reskilling may never be more imperative. Not only must employees adapt to and be adept in the latest technologies, they also need to be agile and reactive, capable of responding to never-before-seen scenarios in effective ways. As argued in the World Economic Forum’s Future of Jobs Report, the most valuable skills going forward will be those attuned to these realities: creativity, complex problem solving, innovation, storytelling and other skills that transcend any one industry are indispensable.

Or, to borrow again from Dylan: Those who get hurt will be those who have stalled... your old road is rapidly agin’

APPLIED CREATIVITY AND INNOVATION CERTIFICATE

Recognizing these global trends, most postsecondary institutions have begun placing greater emphasis on 21stcentury skills demanded by the future of work. Since 2015, for example, Sheridan has provided all its degree students with the chance to earn a Board Undergraduate Certificate in Creativity and Creative Problem Solving — the first credential of its kind in Canada — that teaches techniques in creativity, innovation, problem solving, persuasion and more.

Beginning this fall, your business will have the opportunity to arm your existing employees with those very same skills. Sheridan’s new Applied Creativity and Innovation graduate certificate is tailored not only for recent grads but for working professionals and entrepreneurs as well, providing maximum flexibility through online classes that can be completed fulltime, part-time or over the course of several years.

In addition to learning creativity and problem-solving theory, students will work alongside creativity and innovation experts during an extensive practicum that will see them resolve a real-world problem for their employer or one of Sheridan’s industry, non-profit or government agency partners. For your business, it could be the chance to generate fresh and useful ideas to leverage artificial intelligence technology, advance your sustainability efforts, update your marketing strategies, address supply chain challenges and more.

Back to you, Mr. Dylan:

If your time to you is worth savin’

And you better start swimmin’

Or you’ll sink like a stone

For the times they are a-changin’ 

For the times they are a-changin’.

NATHANIEL BARR Sheridan College

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