CONNECT 2021 - Winter Edition by Mississauga Board of Trade

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THE VOICE OF BUSINESS IN MISSISSAUGA

VOLUME 16 ISSUE 1 WINTER 2021

GOODBYE PG 15

NTN Canada Gives Back to the Community During COVID-19 Pandemic

HELLO PG 21

Revolutionizing your Resolutions: Make 2021 a Year of Growth

www.mbot.com

@mbotontario

2020 PG 5

Message from MBOTâ&#x20AC;&#x2122;s New 2021 Chair

diti

CONTENTS ARTICLES

VOLUME 16 ISSUE 1 | WINTER 2021

The Discover Ability Network: Understanding Disability

15 NTN Canada Gives Back to the Community during

COVID-19 Pandemic

Animate Your Business with Key West Video

22 Personal Real Estate Corporations > 28

The Process of Selling Your Business Has Already Begun

32 Mississauga Must Seize the

Opportunity to Becoming a Prosperous Global City of the Future

< REVOLUTIONIZING YOUR RESOLUTIONS MAKE 2021 A YEAR OF GROWTH PAGE 21

IN THIS

ISSUE

Chair’s Message

Events at a Glance

President’s Message

MBOT Referal Program

The Political Round Up

New Members

FROM OUR CHAIR

2021

BOARD OF DIRECTORS

THE VOICE OF BUSINESS IN MISSISSAUGA

EXECUTIVE COMMITTEE: • • • • • • • •

Ken Tencer, Spyder Works Inc. | Chair Lucie Shaw, Nurse Next Door | Vice-Chair Steve Rhone, Weston Forest Products | Vice-Chair Susanne Balpataky, Speigel Nichols Fox LLP | Past Chair Jim Molyneux, MNP | Treasurer Ellen McGregor, Fielding Environmental Amy Delisle, Keyser Mason Ball, LLP David Wojcik, MBOT-President & CEO (Ex-officio)

DIRECTORS: • • • • • • • • • •

France Dube, AstraZeneca Steve D’Agostino, Avega Mary Ann Wenzler-Wiebe, BDC Parveen Dhupar, BTI Brand Innovations Inc. Sameer Sharma, Crown Hotels Adam Nowak, Gallagher Insurance Eileen Waechter, Greater Toronto Airport Authority Linda Kern, Kern Group Janet Wardle, MHI Canada Andrew Stelmacovich, University of Toronto 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: David Wojcik President & CEO ceo@mbot.com EDITOR: Kelsey Lusk Digital Asset Manager klusk@mbot.com DESIGN & LAYOUT: Katika Integrated Communications Inc. www.katika.com ADVERTISING INQUIRES: advertising@mbot.com PRINTING: Katika Integrated Communications Inc. www.katika.com

ADVERTISING INQUIRIES:

Solange Barcena - sbarcena@mbot.com

EDITORIAL INQUIRIES:

Kelsey Lusk - klusk@mbot.com

DISTRIBUTION: Katika Integrated Communications Inc. www.katika.com PHOTO CREDIT: John Goldstein, Andrea Marchant

ADVERTISERS INDEX Ashcon International Brite Space Offices Discoverability Network Exit Planning Group Insuranceland Key West Video NTN 4

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

33 31 9 36 24 19 14

Pinnacle Digital Solutions Sauga 960 AM Scale Up Institute - RAP Sheridan Spyder Works Inc. Toronto Region Board of Trade

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T: (905) 273 6151 E: info@mbot.com W: www.mbot.com

mbotontario © 2021. 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 | 2021 ISSUE 1 herein are those of contributorsCONNECT and do not necessarily constitute endorsement by MBOT. Publication Agreement Number 40012444.

FROM OUR CHAIR

NEW YEAR

NEW CHAIR The challenges we have encountered and overcome in this past year are a testament to our united strength and resilient leadership and I feel privileged to be starting the new year as Chair of the Mississauga Board of Trade. I view this opportunity as an honour, and I can assure you that I will do my utmost to build on the great work done by former chair, Susanne Balpataky and the Board. While the world has gone through many changes, our mission at MBOT remains the same, to connect, champion and advance Mississauga Business. As Chair, during these unsettled times, my personal goal is to help Mississauga business thrive by finding ways to support all organizations in new and creative ways. Alongside MBOT’s CEO, David Wojcik and MERG’s Chair, Ellen McGregor, we will work with community and business leaders, to recreate a stable and vibrant business community. Supporting one another is a core value at MBOT and fundamental to each and every one of our initiatives, most notably the Mississauga Economic Recovery Group (MERG), launched in 2020. MERG will act as a key initiative for MBOT; working to better understand the pandemic’s impact on the many sectors of business that are critical to our community and informing on how we can work together to help make each of them vibrant once again.

KEN TENCER

2021 MBOT Chair Spyder Works Inc.

“Supporting one another is a core value at MBOT and fundamental to each and every one of our initiatives, most notably the Mississauga Economic Recovery Group (MERG), launched in 2020.”

While we hope to safely return to in-person meetings and events, MBOT will continue to work to fully identify the future of business, communication, and community, by finding unique and innovative ways to deliver programs. The future will certainly be a hybrid of the new and traditional ways of engaging, supporting and working together for the betterment of Mississauga business and business everywhere. We will embrace the future by delivering even greater value to current and future Mississauga Board of Trade Members. As the pre-eminent voice of business in this community, we want to help your businesses grow and prosper. I look forward to working among the leaders from all key sectors of Mississauga who have stepped up to support, unite and to embrace the needs of every organization in our community. 

CONNECT | 2021 ISSUE 1

FROM OUR PRESIDENT

10 BUSINESS

Predictions

FOR

2021

Happy New Year, with hope. Here we are in 2021 with a bright and shiny future ahead. One thing humans have in common is hope. Our belief in possibility. Our ability to dream and imagine the future. While others are producing an endless list of new yearâ&#x20AC;&#x2122;s resolutions, only to be broken by the end of the first week of January, or with no intention of keeping, I decided to put together my top 10 list of predictions for 2021.

1. JANUARY 2021 The Coronavirus vaccine is now being distributed to our most vulnerable citizens and our frontline heroes. (This one is safe considering we were to start this on December 14, 2020.)

2. FEBRUARY 2021 Restaurants and small businesses that survived the nonsensical and void of data forced closures, are now open and without restricted capacity.

DAVID WOJCIK

President & CEO Mississauga Board of Trade

3. MARCH 2021 We have in person meetings and working remotely is a welcomed option rather than a dreaded imposition.

4. APRIL 2021 Masks are donated by the millions to hospitals and clinics because we no longer require them to be within 2 meters of another human being.

5. MAY 2021 Tourism returns with unprecedented crowds and vacation is once again something we look forward to with our family.

6. JUNE 2021 We only use the word unprecedented with a positive phrase like the one in number 5 above.

CONNECT | 2021 ISSUE 1

FROM OUR PRESIDENT

7. JULY 2021 We meet in person and shake hands with our business colleagues without ending our day with eye-strain from endless Zoom meetings.

8. AUGUST 2021 Hotels are at 100% capacity and our banquet facilities have full booking sheets.

9. SEPTEMBER 2021 Pearson airport is filled with business travelers who can return home, be “rapid tested” and show up at the office without a fourteen day quarantine.

Corporate Relations Manager

10. 2021 ONWARD Our governments at all levels are focused on economic recovery and the restoration of an environment for business to thrive. (Maybe I should have made this number 1)

Most of us are happy to put 2020 in the rearview mirror. To our team members who were flexible, understanding and remained positive, we extend a massive helping of appreciation. To our life sciences companies who collaborated and created a vaccine with record breaking speed, we salute you. To others who were instrumental in providing products and services to support the early-stage detection, testing and treatments, we thank you. To our manufacturers who retooled their facilities to provide PPE when we were in desperate need, we are eternally grateful. To our frontline champions, we express our greatest respect and gratitude for your bravery and commitment to making us well and keeping us safe. 

CONNECT | 2021 ISSUE 1

BDec@mbot.com Brian Dec

@brian_mbot

MEMBER TALKS

THE DISCOVER ABILITY NETWORK:

Understanding Disability “As a small business, I don’t even know where we would start. I don’t have the time to spend looking for someone with a disability. We need people quickly, and I don’t have a lot of extra time to make changes for someone who does things differently.”

Ontario Chamber of Commerce

The benefits of hiring people with disabilities are clear - diverse perspectives, strong problem-solving skills, and a group of people eager to work. On average, studies demonstrate that people with disabilities have better attendance and retention rates. They work more safely and are as productive as employees without a disability. With the average cost of retraining an employee pegged at 20% of an employee’s annual salary, even a 1% reduction in turnover results in huge cost savings. Consumers are more likely to do repeat business with a company that has made a commitment to hiring people with disabilities. With 40% of small to medium-sized businesses reporting that they struggle with finding the skilled workers, they need this is a demographic that employers can’t afford to overlook. People with disabilities have lower employment rates. They represent a largely untapped segment of the labour market. With such an obvious win-win why aren’t more companies hiring inclusively? Some employers may not have large Human Resources departments. The report challenges in how to recruit people with disabilities.

Some employers share that they do not have the knowledge or capacity to hire, train, and accommodate a candidate with a disability. This fear often stems from a lack of understanding of what it means to have a disability or what would be required the employer once a person with a disability has been hired. “We hadn’t fully realized the value of difference and disability,” confesses Hua Yu, Managing Partner at Level5. “It wasn’t until we had multiple training sessions on the benefits of disability and inclusion that we realized we were overlooking the perspective of 6.2 million Canadians. And we thought if we hire people who bring alternative perspectives to our workplace, then we can drive innovation and better serve our own clients.”

1. Why aren’t companies optimizing the value of candidates with a disability? Like most companies, Level5 reviews the tall stack of resumés on their desk and eliminates the candidates that have gaps or experiences that don’t immediately seem relevant. It wasn’t until after disability confidence training that many companies start to consider candidates who are ‘outside of the box’. “We had never knowingly hired someone with a disability before,” Hua tells us. “But when the opportunity came, we

offered an internship opportunity to a college student with a disability. And it forced us to interview people without screening their résumé first.” We needed someone to help with our graphic design needs.” Hua explains, “and we thought we’d give Aaron a try.”

2. What skills are really needed in a role? Taking time to pinpoint the must-have skills for a job can be an extra step employers are reluctant to make, particularly when it’s easier to re-use existing job postings or write a lengthy wish list. “We knew exactly what we were looking for,” says Hua, “so when we saw Aaron’s Inocenio’s portfolio, which included his thumbnail sketches that outlined his thought process, we knew we had a candidate who put a lot of critical thinking into his work – a key ingredient in the role.”

3. How do employee accommodations result in higher productivity? Think of an accommodation as a productivity-enhancer – it helps your employee do the job better. Meaning higher productivity. Often, accommodations provided to your employee with a disability work better for everyone else too. That disability confidence training that L5 offered? It provided other employees the opportunity to learn from Aaron’s approach, and he has quickly become

CONNECT | 2021 ISSUE 1

MEMBER TALKS

a highly valued member of the team. His six-week internship led to a job offer. When he designs, he uses three screens,” Hua remarks, “He’s constantly looking for a better way to design and present. He delivers our marketing team incredible value.” One of the accommodations provided to Aaron was a set of noise-canceling headphones as he is highly sensitive to noise and distractions. But many of Level5’s consultants also use the headphones to allow better concentration in an open-office environment. Everyone benefits. This aligns with research that shows accommodations, in general, improve productivity whether that be flexible hours, ergonomic office equipment, or assistive technology. Microsoft research indicates that 60% of workingage adults are likely or very likely to benefit from the use of accessible technology.**

4. What are the real benefits of hiring a person with a disability? Diverse teams deliver improved problem solving – for example, when an employer hires and includes people with disabilities on the team, they’re driving product and service innovations.*** As a result, companies that hire people with disabilities have achieved up to 28% higher revenue.****

5. Why haven’t we done this sooner? “Now that we see the value, we’ll definitely actively consider recruiting people with disabilities for future hires,” Hua tells us. Sign up to www.discoverability.network today to connect to job seekers with a disability. Please contact Peter Greenall at petergreenall@occ.ca to learn more. 

Aaron Inocencio has a detail-oriented mind and uses a systematic, organized approach to any design project. While managing a disability, he has been involved in college activities that evolve, promote, and stimulate leadership and soft skills such as networking and public speaking. In 2019 he participated in a work-integrated learning program for students with disabilities where he worked at Level5 Strategy Group. His abilities have resulted in a full-time position at Level5. * Statistics Canada. 2017 Canadian Survey on Disability (CSD) (2017): ** Forrester Research Inc. (2003). The Wide Range of Abilities and Its Impact on Computer Technology. A Research Study commissioned by Microsoft Corporation. *** Waiter, is that inclusion in my soup? A new recipe to improve business performance. Deloitte research report, page 6. **** AAPD, Accenture, and Disability: Getting to Equal 2018: The Disability Inclusion Advantage, p. 6.

START HIRING QUALIFIED TALENT Give your business the competitive advantage it needs. Let the Discover Ability Network make the connection between your business and qualified talent.

1 2 3

Create a free account on the discoverability.network Post job openings and select the must have diversity filter to connect with qualified, diverse job seekers. Review your matches and invite candidates to interview.

Join the Discover Ability Network at discoverability.network

CONNECT | 2021 ISSUE 1

The

THE POLITICAL ROUND UP

political

ROUND UP

Local & Regional THE MISSISSAUGA BOARD OF TRADE IS THE VOICE OF BUSINESS AT THE CITY OF MISSISSAUGA AND REGION OF PEEL LEVELS OF GOVERNMENT.

COVID19 RESPONSE Both the City of Mississauga and Region of Peel governments have established support programs and services for business because of the COVID19 pandemic. The City of Mississauga, predominantly through the Mississauga Economic Development Office, has a dedicated portal for business support. Their programs include promotion of the Digital Main Street program, development of economic recovery plans in various sectors of the economy, health, safety and reopenings measures and sector specific resources to assist in business

re-openings. More information can be accessed at COVID-19 Recovery | Unlimited Mississauga (thefutureisunlimited.ca). Mississauga By-law Enforcement has also reported that they are very active responding to complaints about violations of the business closings issue and other matters which contravene the regulations. The Region of Peel, which has specific responsibility for public health, has the responsibility for acting on public health directives established by the Province of Ontario. When Peel moved into the â&#x20AC;&#x153;Grey-Lockdownâ&#x20AC;? level in November 2020, it meant that many businesses were required to

either completely close or have their operations significantly curtailed. This affected social gatherings, retail, restaurant, entertainment, personal care, banquet halls and sports and fitness centres in a very significant way. Peel Public Health is also responsible for the testing for COVID19 and daily reporting on cases and deaths. More information from the Region of Peel is available at Novel coronavirus (COVID-19) - Region of Peel (peelregion.ca).

MISSISSAUGA MADE The City of Mississauga has set up a portal called Mississauga Made. It is an on-line marketplace developed to

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THE POLITICAL ROUND UP

promote local Mississauga products, businesses, artists, stories, activities, and experiences. To participate in the program go to www.mississaugamade.ca.

decided to permit outdoor retail sales and display and temporary outdoor recreational and entertainment establishments in appropriate zones.

“...Mississauga Made. It is an on-line marketplace developed to promote local Mississauga products, businesses, artists, stories, activities, and experiences.”

MANDATORY MASK WEARING BY-LAW Mississauga City Council passed a bylaw in July 2020 to make the wearing of masks mandatory in all indoor spaces including businesses. The by-law will be in effect until January 20, 2021 and includes hefty fines for non-compliance. The by-law has been extended until June 2021.

2021 MISSISSAUGA BUDGET Budget discussion for 2021 have all but concluded resulting in an anticipated property tax increase of 1% for residential properties and 0.6% for commercial/industrial properties on the City of Mississauga portion of the bill. The property tax bill is made up of three components – Mississauga, Region of Peel and Provincial Education Taxes. The Region of Peel is still finalizing its budget and the education tax portion is expected to be frozen or have a small decrease in 2021.

OUTDOOR BUSINESS OPERATIONS The City of Mississauga recently approved a by-law that will permit some businesses to have outdoor operations. Due to the COVID-19 pandemic, the City received several requests for outdoor uses which are not permitted in the zoning by-law. To support Mississauga’s businesses and charitable ventures, the City has

CONNECT | 2021 ISSUE 1

OUTDOOR PATIOS City Council has extended Mississauga’s temporary patio program and amended the Temporary Use By-law to allow restaurants, bars and other food and drink establishments to operate their temporary outdoor patios until December 31, 2021. As part of the extension, these businesses can also install temporary tents/covered areas and heating devices as part of their patios, in accordance with provincial and City regulations, to ensure they can continue to serve patrons during the winter months.

MISSISSAUGA CLIMATE CHANGE ACTION PLAN The City of Mississauga has adopted a Climate Change Action Plan to help minimize and prepare Mississauga for the impacts of a changing global climate. The Plan sets out specific goals the City wishes to achieve. The first goal is Mitigation to reduce corporate and community GHG emissions 80% by 2050, as compared to 1990 levels, with a long-term goal of becoming a net zero community and position the City competitively in the emerging low carbon economy. As this is a ten-year plan, an interim GHG reduction milestone of 40% by 2030 has also been set. The second goal is Adaptation to increase resilience and the capacity of the corporation and community to withstand and respond to future climate events by taking action on the highest climate-related risks.

TOURISM MISSISSAUGA The City of Mississauga has established Tourism Mississauga and appointed a Board of Directors to oversee tourism activities in the city. The Mississauga Board of Trade is part of the corporation to ensure the voice of business at large is included in its work. The Corporation is funded through the Municipal Accommodation Tax which is a 4% charge on overnight hotel and motel stays and is remitted to the City of Mississauga. In a typical year, this could yield as much as $10 million of which 50% of that money must be allocated to Tourism Mississauga. More can be found at www.visitmississauga.ca.

THE POLITICAL ROUND UP

provincial government MBOT WORKS VERY CLOSELY WITH OUR PARTNERS AT THE ONTARIO CHAMBER OF COMMERCE (OCC) ON ISSUES WITH THE ONTARIO GOVERNMENT. OUR COMMITTEES WORK HARD LOOKING AT RESOLUTIONS, POLICY DOCUMENTS, GOVERNMENT ANNOUNCEMENTS ON CONSULTATIONS TO ENSURE THE VOICE OF MISSISSAUGA BUSINESSES IS ADVANCED ON PROVINCIAL ISSUES. MEMBERS OF MBOT ARE AUTOMATIC MEMBERS OF THE ONTARIO CHAMBER OF COMMERCE. FOR MORE INFORMATION ON THE OCC, PLEASE VISIT WWW.OCC.CA.

ONTARIO GOVERNMENT CREATES NEW PUBLIC HEALTH RESPONSE FRAMEWORK The Keeping Ontario Safe and Open Framework categorizes public health regions into five levels: Green-Prevent, Yellow-Protect, Orange-Restrict, RedControl, and Lockdown being a measure of last and urgent resort. On November 23, 2020 Peel Region was placed in the “Grey-Lockdown” level for a minimum of 28 days. The designation is reassessed monthly by both the Ontario and Peel Medical Officers of Health.

FOOD DELIVERY FEE CAP The Ontario Government has imposed fee delivery caps for services provided in Grey-Lockdown zones to a maximum of 20% gross charge. The plan is intended to help struggling restaurants with take-out delivery orders during the COVID19 pandemic.

TIME CHANGE LAW The Ontario Legislature has unanimously passed a bill that would end the practice of changing the clocks twice a year from standard to daylight savings time and back. The Ontario Government has said it will not proclaim

the law in force until such time as the neighbouring jurisdictions of Quebec and New York State also agree to do it.

• Making the Employer Health Tax (EHT) exemption to $1 million of payroll permanent

SUPPLY ONTARIO

• Allow municipalities to adopt a lower Small Business Property Tax sub-class

The Ontario Government has established Supply Ontario, a new centralized procurement agency that will enable a whole-of-government approach to purchasing goods and services. Many businesses that have tried to procure through the myriad of Government departments and agencies will welcome a one-stop place for these opportunities. More information is available at Supply Ontario | Ontario.ca.

ONTARIO BUDGET On November 5, 2020 the Hon. Rod Phillips, Minister of Finance tabled the 2020-2021 Ontario budget. Major highlights of the budget of particular interest to business include: • Spending close to $15.2 billion on COVID19 response • $600 million to support property tax and utility payments for businesses in lockdown zones • Setting business education tax rates across Ontario to 0.88% affecting 200,000 properties — or 94 per cent of all business properties in the province. This would create $450 million in annual savings in 2021, representing a 30 per cent reduction for many employers.

• Significant increased funding for job and skills training and support for workers in hardest hit sectors due to COVID19 • Creating a Seniors Safety Tax Credit for home renovations • A new Tourism Tax Credit of 20% for expenditures incurred in Ontario The Budget does predict an operating deficit in 2020-2021 of $38.5 billion but does forecast slightly smaller deficits over the next number of years. More details on the Budget are available at 2020 Ontario Budget | Ontario.ca.

ELECTRICITY RATES Starting on January 1, 2021, a portion of electricity costs estimated at approximately 85 per cent of the high cost wind, solar and bioenergy contracts, entered into under the previous government, will be funded by the Province, not ratepayers. Removing these costs from electricity bills will result in medium size and larger industrial and commercial employers saving about 14 and 16 per cent respectively, on average, on their electricity bills. This new policy will provide lower and more stable prices for Ontario’s electricity supply.

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THE POLITICAL ROUND UP

federal government MBOT MEMBERS ARE ALSO MEMBERS OF THE CANADIAN CHAMBER OF COMMERCE (CCC) WHICH IS THE NATIONAL VOICE OF BUSINESS TO THE FEDERAL GOVERNMENT. MBOT STAFF AND COMMITTEES EXAMINE ISSUES AND RESOLUTIONS OF THE CCC AND PROVIDE MISSISSAUGA’S INPUT. MORE INFORMATION ON THE CCC IS AT WWW.CHAMBER.CA.

COVID19 FEDERAL RESPONSE The Government of Canada has established and renewed several support programs for both businesses and workers to provide financial assistance. The programs most relevant to business are detailed below.

CANADA EMERGENCY WAGE SUBSIDY The CEWS is a program designed to cover up to 75% of wages for employees to a maximum of $847 per week and has now been extended to March 31, 2021. The program itself, which will be reviewed, lasts until June 20, 2021 but the Government may adjust the rate of wage subsidy.

CANADA EMERGENCY BUSINESS ACCOUNT The CEBA originally was a low-interest low of up to $40,000 for qualifying business which can be applied for through one’s bank or financial institution. Recently, the Government expanded the program to access an additional $20,000 where half of this amount is forgivable if the loan is repaid by December 31, 2022.

CANADA EMERGENCY RENT SUBSIDY The CERS is a new tenant-driven rent supplement program that has also been extended until June 21, 2021. The

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new program provides up to 65% of rent eligible expenses and another 25% for businesses in lockdown regions. The 65% amount is in force and effect until March 31, 2021 at which time it will be reviewed.

REGIONAL RELIEF AND RECOVERY FUND The RRRF is a program administered by the Federal Economic Development Agency of Southern Ontario (FedDev) to help more businesses and organizations in sectors such as manufacturing, technology, tourism and others that are key to the regions and to local economies. This fund is specifically targeted to those that may require additional help to recover from the COVID-19 pandemic but have been unable to access other support measures.

HIGHLY AFFECTED SECTORS CREDIT AVAILABILITY PROGRAM The HASCAP was announced in the Federal Economic Statement on November 30, 2020. This is a program designed for the hardest hit businesses, including those in sectors like tourism, hospitality, hotels, arts, and entertainment. This stream will provide 100% government guaranteed financing for heavily impacted businesses and provide low-interest loans of up to $1 million over extended terms of up to ten years.

CANADA-UNITED KINGDOM TRADE CONTINUITY AGREEMENT Canada and the United Kingdom (UK) have reached a Trade Continuity Agreement to set the stage for a new free trade agreement between Canada and the UK when the Comprehensive Economic Trade Agreement (CETA) with Europe ends for the UK on January 1, 2021. The new agreement will provide continued access to the benefits of CETA on a bilateral basis, including elimination of tariffs on 98% of Canadian products exported to the UK.

COVID19 VACCINES The Government of Canada has committed to purchase millions of doses of various COVID19 vaccines that are either in development or ready for use. Several MBOT company members are part of these vaccines. Canada has also secured the most diverse portfolio of vaccine candidates of any country in the world, with agreements for up to 429 million doses from seven leading candidates. And when a safe and effective vaccine is available, the Federal Government will make it available, for free. Until such time, testing and tracing continue to be critical in our defense against the virus. That is why the Government of Canada has procured over 38 million rapid tests, which is three times the total number of tests performed in Canada since the pandemic began. 

EDITORIAL

MAKING THE WORLD RUN SMOOTHLY NTN strives to deliver the Ultimate Bearing Experience by being a world class bearing producer and by supporting the success of our customers and our local community. With manufacturing operations in Mississauga for over 52 years, NTN has built a solid reputation by providing our customers nationwide with high quality bearing solutions for a wide range of industries. From wind energy to automotive bearings, we can meet your application requirements. And through our NTN Spirit Tree corporate philosophy, we remain dedicated to supporting the communities where we live and work.

Delivering the Ultimate Bearing Experience

A WORLD LEADER IN THE ROLLING BEARING INDUSTRY

www.ntn.ca 14

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EDITORIAL

NTN Canada gives back to the community during COVID-19 pandemic Paul Meo, CEO, Leads Efforts at NTN Canada to Give Back During the Covid-19 Pandemic

It’s the season for giving, and NTN’s employees are giving back to help those struggling through the pandemic. President and CEO, Mr. Paul Meo, has spearheaded the effort at his company to give back to the community and show support to those in need. “We thought it was time for us to step up and help make a difference,”said Paul Meo. “There are so many worthy organizations and charities that need support right now, and we want to do our small part to help those in need.” Mr. Meo proudly launched the NTN Bear Holiday Campaign which has received tremendous support from the company’s employees and industry partners. All funds raised from the sale of the adorable limited edition NTN Gund bears will go towards building a new SickKids, Canada's most researchintensive hospital and the largest centre dedicated to improving children's health in the country. The NTN holiday bears, “Roller Bear” and “Linéaire Bear” make a great gift and are available for purchase at ntn.ca for a minimum donation of $30.00 each. NTN is also donating 500 bears to SickKids to help comfort and entertain children during their hospital stay. And to help curb the issue of hunger, NTN Canada recently donated over 1040 lbs of non-perishable food items to one of the largest area food banks in Mississauga, Eden Food for Change, with plans for additional donations as the pandemic continues. Mr. Meo has made it easy for employees at NTN to donate to the food drive by personally picking up donations, curbside, while taking the time to check-in, say hello and thank each employee for their contribution. In time for the holiday season, Mr. Meo has also organized the NTN Santa Express to deliver happiness to employees, customers, and community through outdoor visits to over 150 homes over a 3 day period. Santa and his NTN crew will be visiting employee’s families to drop off gifts for the children and grandchildren as well making stops to spread good cheer with its distributors and key suppliers. Page 1 of 2

NTN BEARING CORPORATION OF CANADA LTD. 305 Courtneypark Drive West, Mississauga, ON, L5W 1Y4 Tel: 905.564.2700 905.564.9023 www.ntn.ca CONNECT | 2021 Fax: ISSUE 1

EDITORIAL

Over the last few months, volunteers from NTN have also reached out to the Haven Toronto Shelter and provided lunches to support the homeless as well as donated an outdoor canopy to ensure clients would be safely sheltered this winter when picking up meals. NTN together with an industry partner, KWE, also donated spaghetti sauce and over 400 packages of pasta to ensure those in need have access to healthy and delicious meal options. NTN’s employees also joined forces with the Toronto Police Service 51 Division to serve a delicious BBQ lunch at Haven Toronto. Team members were on site to help prepare, cook and distribute over 200 meals, enhanced with fresh vegetables grown from NTN’s community garden. The gardening plot at the company’s Mississauga headquarters was started with the help of garden sponsors, Jane & Jerome Brown Farm and Rob Sharpe this past spring and the harvest included a wide range of vegetables from tomatoes, to peppers, lettuce, green onions and more which the company has donated to Haven Toronto and other local food banks. "Having such an impact on the homeless and those in need during these challenging times has been a rewarding experience for us and we are so proud to have played a part," says Paul Meo. “We’re always looking for ways to connect with the community and present a united front of hope, generosity and compassion.”

About NTN Founded in 1918, NTN is one of the world’s largest producers of premium quality ball and roller bearings, long recognized for the most stringent quality standards in the industry. With plants around the globe and a strong domestic manufacturing network, over 80% of the products sold by NTN in North America are made by one of the ten plants the company operates in Canada and the USA. NTN is also a leading provider of bearing services which include technical support, maintenance and reliability services, engineering consulting and training. NTN’s company vision is “to transform into Canada’s leader of the Ultimate Bearing Experience.”

For more information, contact rpayne@ntn.ca or call 647-518-4592 Page 2 of 2

NTN BEARING CORPORATION OF CANADA LTD. 305 Courtneypark Drive West, Mississauga, ON, L5W 1Y4 Tel: 905.564.2700 Fax: 905.564.9023 www.ntn.ca 16

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MEMBER TALKS

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MEMBER TALKS

Animate

YOUR BUSINESS WITH KEY WEST VIDEO

Animations are a great way to take a very complicated concept and simplify it into an easy to consume, and engaging video. At Key West Video we’re experts in animation and we thought we’d run you through the animation process if you’re not already familiar. Every good video starts with a solid script. We’ll send you a questionnaire to get a better idea of what your business is about and what you want to achieve with your animation. After that our scriptwriter will get to work on creating a script that best conveys your message. When the script is complete, we move on to the storyboarding phase.

STUART STEINBERG Owner/Senior Producer Key West Video Inc.

Key West Video’s Animation for Ascenia The storyboarding phase has all the glory of the animation without the movement. It captures your video scene by scene and outlines the text that will show up on the scene as well as the voiceover that will be accompanying the project. We take branding guidelines that you provide us and incorporate it into the final video to have consistent branding. Make all your changes in the storyboarding phase to make the animation process and smooth and seamless as possible. During the Covid-19 era we’re living in, where people are hesitant to shoot live action, an animation allows you to focus on your video marketing needs without feeling like you’re putting your safety at risk. Our in-house animation team can take your idea and turn it into reality, all while working remotely to keep you safe. Interested in an animation? Contact Key West Video today!  Stuart Steinberg 416-675-0751 stuart@keywestvideo.com

CONNECT | 2021 ISSUE 1

MEMBER TALKS

Pinnacle Digital Solutions Ltd. Audio Visual, Electronic Security & Communication System Integrators Video Presentation, Public Address & Background Music, Digital Signage. Audio & Video Conferencing, Telephone System, Nurse Call System, Structured Cabling. CCTV, Access Control, Alarm Systems, Audio/Video Door Intercom, Video, Visitor Management.

Call us for a free, no obligation audit or to talk to us about your plans. 6200 Dixie Rd, Office 203, Mississauga, Ontario, L5T 2E1 +1 (905) 203-1941, info@pinnacledsl.com, https://www.pinnacledsl.com

$999 + HST 2 Min. Company Promo

5050 Dufferin Street, Unit 227 Toronto, ON M3H 5T5 www.keywestvideo.com info@keywestvideo.com 416 675 0751

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Half Day Shoot Experienced Production Crew State of the Art Cameras & Gear Professional Post Production Services ProRes Digital File

S+W

There’s no finish line in business.

When you’ve reached all your goals, you have to be ready for the next plateau. To delight your customers you always have to be doing things better, faster and different. For more than 25 years, Spyder Works has been a leading business consultancy for mid-market organizations and intrapreneurs, globally. We develop design-driven strategies to help our clients move past their time-consuming “front burner” issues and develop clear, implementable steps into the future. Working in partnership, we challenge our clients to see their business from the customers’ perspective and transform this learning into better ways of communicating, working and engaging opportunities for growth. Because in business, there’s no finish line, only starting gates. Contact us at info@spyder.works or visit www.spyder.works Small Steps. Epic Journey.

MEMBER TALKS

Revolutionizing Your Resolutions: MAKE 2021 A YEAR OF GROWTH BY LEARNING HOW TO DO BUSINESS IN THE ERA OF THE NEXT ABNORMAL

KEN TENCER Spyder Works Inc.

I think we can all agree, 2020 was quite a year. From a global pandemic to a rapidly changing work environment and economic uncertainty, the changes we’ve seen have come to affect us all. As CEOs, we’ve been left to find a solution to a problem none of us really expected to face. We’ve had to adjust. Since the pandemic began, I have been thinking about how Spyder Works can help corporate leaders make sense of the future and its uncertainty. While speaking to clients and colleagues internationally, I developed an hour-long program titled “Macrotrends and the Next Abnormal.” My goal was to discuss how macrotrends—long-term directional shifts that can impact your business on a global level—are impacting company operations, culture, marketing and more. By building an awareness of macrotrends, which range from anything like automation and ruralization, to the continuum of health, artificial intelligence and sweeping changes in technology and social media platforms, CEOs can ensure their organizations continue moving forward in the best way possible. During the first session, each member was asked to put their strategic, CEO hats on to discuss a number of macrotrends. Throughout the hour, we shared insights with each other as we spoke about the trends and how company leaders can prepare their organizations for the future.

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The main takeaways of the session relate to the art of the pivot and the need for scenario planning, which is at the core of my Dynamic Organization model. The Dynamic Organization speaks to a fundamental change in our businesses’ organizational structure to better address frenetic change. CEOs need to learn that the interface between their brand, their company and the consumer now channels through operations. If you want to learn how to keep your company healthy and vibrant, you need to see operations as the pivotal core to your business. People are always talking about the “new normal” or the “next normal,” but they rarely talk about the abnormal, which is what I believe the future is all about. There is a need, now more than ever, for companies to preact the future and better anticipate and prepare for the needs of potential “exceptional” challenges (which seem to be happening every other week this year). What I want to do is help CEOs and leadership teams learn to identify true macrotrends, which will affect their industries for years to come, and recognize the most relevant ones for their business. If you learn to understand the macrotrends and have the tools to embrace them, then you can prepare your organization to pivot and become winners in the long-term. Ignoring the future won’t make it go away. Organizations need to understand the future, see how it may come to affect them and be ready to adapt as necessary. 

MEMBER TALKS

PERSONAL

REAL ESTATE CORPORATIONS

KEVIN FERNANDES Associate, Corporate/ Commercial KMB Law

Recently, the Ontario government enacted Ontario Regulations 536/20 (the “Regulations”) under the Real Estate and Business Brokers Act (Ontario) (the “Act”) which now allow real estate professionals to operate a personal real estate corporation (a “PREC”). Below are the basics of those Regulations and more information about how we at KMB Law can assist with the setup and operation of a PREC.

PRECs – THE BASICS A PREC is a corporation incorporated or continued under the Business Corporations Act (Ontario) and of which all of the equity (voting, growth) shares must be owned by a controlling shareholder (who is a broker or salesperson registered and licensed in good standing pursuant to the Act) (a “Real Estate Professional”). Each non-equity (non-voting, non-growth) share of the PREC must be legally and beneficially owned, directly or indirectly, by: (a) the specified Real Estate Professional, (b) a family member of the Real Estate Professional (being a spouse, child or parent, as defined in the Regulations), or owned legally by one or more individuals, as trustees, in trust for one or more children of the Real Estate Professional who are minors, as beneficiaries. Additionally, it is important to note that:

•

A PREC, as with any corporation, is a separate legal entity from the Real Estate Professional – it owns it own property, maintains its own records, files its own taxes as well as corporate filings;

•

Property owned by the Real Estate Professional related to their real estate practice (including goodwill) may need to be transferred to the PREC on a tax-deferred basis;

• Only one Real Estate Professional may be the controlling shareholder of a given PREC (including if two Real Estate Professionals are spouses or partners); • That Real Estate Professional must also be the sole director and sole officer (President) of the PREC, and cannot be restricted in their powers to manage or supervise the management of the business and affairs of the PREC; • Shares of the PREC may, in certain circumstances, be held by a holding corporation; •

The PREC may hold real property as an asset. As an Ontario corporation, the PREC is required to maintain a register of real property in its corporate minute book;

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MEMBER TALKS

New S how E ver y T ues day • After setting up a PREC, the Real Estate Professional must notify the Registrar (RECO) that they are now operating a PREC; •

A weekly update on what's happening in the world of business and politics

The PREC is primarily as tax and estate planning vehicle - it must not advertise or represent to the public that it carries on the business of trading in real estate. The PREC must not trade in real estate other than to provide the services of its Real Estate Professional to a brokerage;

• If already working with a real estate brokerage, that real estate brokerage must consent to the registration of a PREC but the brokerage is not legally required to give that consent; The PREC is not permitted to hold any money or other property as a deposit in connection with a trade in real estate; and •

The PREC would not be covered by the RECO insurance program but the registrant agent / broker would be – this means, if the PREC is sued, the insurer will not defend it (separate private commercial general liability insurance with appropriate riders is required for the PREC).

HOW KMB LAW CAN HELP KMB Law has been assisting professionals with their corporate legal needs for over 40 years and our lawyers are familiar with the nuances associated with operating a corporation in special, regulated industries. As a first step, contact Kevin Fernandes who leads our firm’s professionals practice. Kevin and his colleagues can work with your existing advisors including financial planners and accountant to develop an efficient plan to roll your existing real estate practice into a new PREC and to assist you with maintaining your PREC as you grow your practice. 

2 MINUTES - EXPERT KNOWLEDGE

Kevin Fernandes 905.276.0431 kfernandes@kmblaw.com

CONNECT | 2020 ISSUE 3

FROM OUR CHAIR

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EVENTS AT A GLANCE

EVENTS AT A

Glance

Virtual Professional Development Series MAKE A CUSTOMER, NOT A SALE SERIES SPONSOR

SEPTEMBER 17, 2020

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LINDA KERN

DALE CARNEGIE PERFORMANCE CONSULTANT & TRAINER

THE KERN GROUP, INC. SALES GROWTH STRATEGIST, SPEAKER, AUTHOR

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EVENTS AT A GLANCE

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EVENTS AT A GLANCE

MBOT Webinar NAVIGATING IMPORTANT WORKPLACE ISSUES DURING THE COVID-19 PANDEMIC OCTOBER 29, 2020 ROSALIE SPRINGER

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CONNECT | 2021 ISSUE 1

MEMBER TALKS

THE PROCESS OF

Selling Y

GETTING FULL VALUE No matter who you decide will be your successor in the business, you will most likely want to build value in your company. Third-party buyers or investors will tend to look at objective, quantifiable facts when deciding how much to offer for your business. Employees, family members, and co-owners will want to feel confident that they are taking over a healthy and stable enterprise.

When you started your business, it was probably obvious that you needed a plan. It may be less obvious, though, that when you leave your business, no matter how you do it, you’ll also need a plan. The reality is that every action you take during the life of your business has an impact on your departure down the road.

Buyers compare the relative strength of your company’s value drivers to those of your competitors. They commonly look at all of the characteristics to ensure your business is a well-managed operation. Businesses that plan ahead to build their value drivers early may carry less risk. Being deficient in just one or two value drivers can impact business value or deter potential buyers. This realization may come as a shock to many business owners. Even if the business is profitable, they may have overlooked some important value drivers.

THIS PROCESS TAKES TIME Implementing strong value drivers is one thing. Having the ability to sustain and grow each area over time can demonstrate the strength of your business and the potential growth it represents. Buyers may also want to confirm that a company’s value drivers are not temporary or short-term. By demonstrating the strength and stability of the value of your company, you may be able to boost your sale price, streamline your exit process, and find the right successor on your timeline. We know change takes time and results can fluctuate over the years. Buyers keep this in mind and can appreciate steady growth. It’s a good idea to keep your value drivers in check and constantly review your progress years before you think about selling. The idea behind a value driver is that it can improve cash flow, expand your competitive advantage, and/or grow your business.

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MEMBER TALKS

Your Business

HAS ALREADY BEGUN

BILL BLACK

President / Exit Planner Exit Planning Group

BONUS PERKS Not only can enhancing the value of your business greatly assist your exit strategy, but it may also help you in other ways. When unforeseen circumstances arise, you won’t need to worry as much of the health of your business with strong drivers in place. Unexpected changes may not shake your company’s performance. Value drivers that cause the business to run more efficiently can also give owners more time in their days. Finally, when you concentrate on improving your company’s value drivers, you may find yourself exploring strategies that you may have otherwise ignored, such as growth through acquisition.

COMMON VALUE DRIVERS Consider the following important value drivers common to many industries and some ways you might leverage them.

A Stable and Motivated Management Team You may benefit from an incentive compensation system that is either cash or stock-based, and rewards key employees based on how the company performs (usually measured by increases in pre-tax income).

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MEMBER TALKS

Operating Systems That Improve Cash Flow Sustainability

Effective Financial Controls

Investigate technology stacking options that streamline and connect different systems and processes, with integration that can allow you to demonstrate to a buyer that the business can continue (and grow) profitably after the sale.

A Solid, Diversified Customer Base It may be possible for you to expand geographically or purchase the customer list of a competitor that is closing its doors.

A Realistic Growth Strategy Develop a written plan describing future growth and how that growth will be achieved based on industry dynamics, increased demand for the company’s products, new product lines, and other expansion plans. Then share the plan with a trusted advisor or investor who can help you identify weaknesses in the plan so that it can be improved.

Upgrade to audited financial statements to get the scrutiny of trained professionals. Alternatively, engage an independent firm to conduct a quality of earnings report, verifying the sources and consistency of your income.

Stable and Improving Cash Flow Ultimately, all value drivers contribute to a stable and predictable cash flow. It is important that your company’s cash flow remains substantial and continues to grow, especially in the two or three years preceding the sale of the business. You can begin working to increase cash flow today by identifying ways to operate your business more efficiently by increasing productivity and decreasing costs. Many business owners find that eliminating their least profitable products or services can free up attention and capacity for more profitable areas. Installing value drivers in your company might be one of the best things you can do to increase the salability of your

company but doing so takes time. The clock is already ticking! We strive to help business owners identify and prioritize their objectives concerning their business, their employees, and their family. If you are ready to talk about your goals for the future and get insights into how you might achieve those goals, we’d be happy to sit down and talk with you. Please feel free to contact us at your convenience.  W.R. (Bill) Black, CExP™, CFP®, CEA®, CIM® President / Exit Planner bill.black@exitplanninggroup.com www.exitplanninggroup.com Member of the BEI Network of Exit Planning Professionals™ The information contained in this article is general in nature and is not legal, tax or financial advice. For information regarding your particular situation, contact an attorney or a tax or financial advisor. The information is provided with the understanding that it does not render legal, accounting, tax or financial advice. We are Members of the BEI Network of Exit Planning Professionals™

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•Certificates of Origin •Shipping •Business Visas •Government Related •And More

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Ann Cozzi acozzi@mbot.com 905-271-6151 ext. 220

CONNECT | 2021 ISSUE 1

EDITORIAL

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EDITORIAL

MISSISSAUGA MUST

seize the opportuni

As Mississauga and the greater region navigate the impacts of the COVID-19-led economic downturn, we find ourselves at a vital crossroads in defining the city’s path to fiscal recovery. In the realm of city-building, there are significant opportunities before us to drive economic growth and the flourishing of businesses, families, and individuals. Through substantial infrastructure developments and strategic planning towards our city’s future and growth, Mississauga will be able to reach its true potential of being an economic, innovative powerhouse among Canadian cities.

DAVID WOJCIK

President & CEO Mississauga Board of Trade

The significant re-development work happening on the site of the former Lakeview Generating Station is a crucial economic engine for Mississauga. As we face ongoing challenges affecting job markets, financial stability, and commercial growth because of the pandemic, we have a unique opportunity to create a worldclass waterfront community right here in our City. Lakeview Community Partners Limited, the team behind Lakeview Village, has collaboratively answered this call with a bold vision that will change the course of history for generations to come. This scale of vision and its innovative approach to city-building is the key to Mississauga’s economic recovery and future prosperity. Lakeview Village is building a diverse mix of high-quality housing with thriving retail and restaurants as well as trails, parks, green space, and cultural and recreational amenities – all

CONNECT | 2021 ISSUE 1

EDITORIAL

ity

TO BECOMING A PROSPEROUS GLOBAL CITY OF THE FUTURE

connected to transit and the nearby Jim Tovey Lakeview Conservation Area. The community will also be home to a largescale business district – set to become a major centre for innovation, research, and employment, of international caliber. It will be a place of multi-sector presence across a range of innovative industries, fostering opportunities for knowledge-sharing and collaboration. The Lakeview Innovation District will act as a business accelerator and launch pad for startups, attracting global innovators, investment, and companies as well as the best and

CONNECT | 2021 ISSUE 1

brightest to Mississauga. The district’s connection to the nearby community, its unparalleled waterfront location and its creation of thousands of jobs will help the city attract and keep young talent. It will draw tourism, business travel, and large-scale events to a conference centre and hotel – extensively supporting local businesses and the local economy. To reach our City’s potential, we must seize this opportunity and begin moving forward with the next phase of developing Mississauga’s

waterfront or risk missing a great opportunity. Lakeview Village presents the opportunity to create a magnificent mixed-use community and Canada’s largest innovation district while contributing to the region’s economic growth. The opportunity is unique and the time for it to launch is now, if we want to see Mississauga be prosperous and thriving in this next era. When we embrace opportunities like this one, Mississauga can and will become a flourishing global city of the future. 

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Aerotek Cowan Insurance Group Emdad Equipment & Oil Field Supplier Express Business Funding Extraordinary Church JTI-Macdonald Corp. Key West Video Inc. NextGen Learning Inc. Nye Manufacturing Ltd. Rama Gaming House Richards Upholstery 1980 Ltd. Stride Surgically Clean Air Inc. Tree Menders of Mississauga Verve Senior Living Vision Transportation Systems Inc. Xerox Research Centre of Canada

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