St. John's Board of Trade Feb. 2014 Business News by St. John's Board of Trade

Meet your 2014 Chair, Sharon Horan

VOLUME 28, NUMBER 1, 0834-2014

FEBRUARY 2014

contents Business News is a monthly publication of the St. John’s Board of Trade. Reproduction of any material contained in Business News is permitted provided written approval from the St. John’s Board of Trade. Articles and criticisms are invited, but opinions expressed by contributors do not necessarily represent those of the St. John’s Board of Trade. We encourage you to support the business leaders whose names and products you see advertised in this issue as well as throughout our entire membership. The Board reserves the right to edit submissions. Editor: Printed by: Layout:

Alisha Morrisey British Group of Companies Roxanne Abbott

ST. JOHN’S BOARD OF TRADE EXECUTIVE Sharon Horan Chair Kim Keating Senior Vice-Chair Des Whelan First Vice-Chair Dorothy Keating Second Vice-Chair Denis Mahoney Immediate Past Chair Derek Purchase Secretary-Treasurer

BOARD OF DIRECTORS Andrea Stack William Griffin Paddy Phillips Craig Ennis Janis Byrne Jim Fallon Kim Sparkes Kevin Peters

COVER STORY CHAIR’S MESSAGE FEATURES Policy Matters Around the Board MEMBERSHIP UPCOMING EVENTS

2 3 5 10 17 22 28

Is your office healthy?

STAFF Nancy Healey Chief Executive Officer Manager of Finance and Compliance Jennifer Chaytor Lori Coleman Business Affairs Manager Margie Davis Executive Sales Director Alisha Morrissey Communication and Advocacy Specialist Rhonda Tulk-Lane Policy and Advocacy Specialist Wanda Palmer Director of Sales and Member Fulfillment Jackie Bryant-Cumby Member Relations Administrator Erika Stockley Mentor for Labrador Northern Opportunities St. John’s Board of Trade 34 Harvey Road P.O. Box 5127 St. John’s, NL A1C 5V5 Canada Tel: (709) 726-2961 Fax: (709) 726-2003 E-mail: mail@bot.nf.ca Website: www.bot.nf.ca

Winner of the 2014 Business Excellence Award for... ”Customer Service and Reliability”

CLEAN MATTERS

Healthy Office Cleaning Programs ServiceMaster Clean offers a full range of cleaning services that will help to keep your office healthy and productive. Whether it’s providing regular janitorial cleaning services, carpet maintenance, fabric furniture cleaning, sanitizing work stations or using environmentally friendly products, we understand the power of a clean and healthy work environment.

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Cover story

t’s not surprising that part of Sharon Horan’s day job focuses on the feet. As a pedorthist, she helps people find balance and alleviate pain through custom orthotics and footwear selection. As an individual, she lives in balance between her hectic work and volunteer schedules, and her passion for downtime in the outdoors. Horan, the incoming chair of the St. John’s Board of Trade, is the very definition of balance; an even distribution of weight enabling someone or something to remain upright and steady. And that balance is just what she’ll bring to the role of chair according to her employees, the outgoing chair and even herself. Growing up in St. John’s, Horan was always a good student. She was a scholarship winner, on the dean’s list and easily transitioned to university. Horan graduated from Dalhousie University with an Honors Degree in Occupational Therapy in 1987, and started her career in public hospitals in St. John’s. Two years later she opened her first business Atlantic Orthotics. But in 1994 she left public health to pursue business full time. “I like to try new things,” she says, explaining that bureaucracy always slowed things down and she wanted to move at a faster pace; which was exactly what she did when she launched her business FIT For Work. Horan now operates four locations around the province, which provide a

meet your new chair diverse offering of occupational medical services, from pre-employment medicals to rehabilitation, disability case management and labour market re-entry services. “I had some good fortune that I had skills people wanted to buy,” she says modestly. “And I had the confidence to take the risk.” When asked to say a few words about their employer, the staff at FIT for Work, replied with a 600-plus word e-mail describing her over and over again as a mentor, a team player, and a strong believer in work-life balance – in short – a great boss. “Sharon does always aim to promote a healthy inter-office lifestyle and she encourages her team to live up to these standards. She has influenced the office environment into a friendly, supportive atmosphere where people genuinely like their jobs and want to come to work,” reads one comment. “Sharon has always maintained an open door policy … Her team has learned to trust and depend on her when the going gets tough,” reads another comment from her staff. Corrina Murrin, long time employee and manager of West Coast operations, has known her employer for nearly two decades, and describes her as a born entrepreneur. “I started with her as a clinician in her Corner Brook clinic,” Murrin says. “She is loyal to her employees … Sharon has many positive attributes and she is a great role model. Personally, I am happy to have had the opportunity to work alongside her and develop skills under her leadership.” Outgoing Chair Denis Mahoney grew up in St. John’s with Horan, but says his friendship with her really developed this year as he and his wife began spending

more time with Horan outside of work. “She’s a very smart and successful businesswoman; she has the interests of the business community in this province uppermost in her mind. She is very passionate about Newfoundland and Labrador businesses succeeding and that’s been a constant theme,” says outgoing chair Denis Mahoney. “Sharon is a very kind-hearted person. She has a very big heart. She’s compassionate. She’s so thoughtful about the needs of others … “I think when you put those elements together she’s going to be a very strong advocate, she’s going to be a formidable leader, she’s going to be a credible representative of the business community. When you think of a successful business person, who you would like to work for, Sharon is the poster child for that because of the characteristics she’s shown.” Horan’s motto is that success breeds success, explaining that the slow and steady growth of her business necessitated her getting into real estate as the company grew. From there, Dory Holdings, an investment firm emerged. Horan’s work life has led to her receiving

many awards and accolades, which she leaves in the office, along with her work, when she goes home to her partner John Parrell and their two dogs Jasper and Logy. When she’s looking for downtime in the city, Horan is more likely to pick up a book than turn on the TV. Continued on page 21...

Business News february 2014

Chair’s message Hello, my name is...

or my introduction as the 2014 chair of the St. John’s Board of Trade, I’d like to start with a declaration; I am having a lifelong love affair with Newfoundland and Labrador. When I left this place to go to university, it wasn’t a matter of how or when I would come back to Newfoundland. I left knowing I would be back, as quick as the tides would take me. Whether it’s the water or the woods or the mountains, there’s just something amazing about this place. I’ve seen the world, as a businessperson and as a tourist, but for me, nothing compares to the wilderness of Newfoundland – from the barrens to the backwoods. This ardour is why I’m involved in the Board of Trade and so many other organizations, which work every day to make this place better. I wanted this declaration to start my year because I needed to communicate that this devotion to my home and native land is what will drive me as a business person for this year and every year to come. This zeal will be the motive behind every decision I make as chair, and our members need to know that. My immense pride in and of this place is what you will see from me this year. This passion I feel combined with my own optimism for the incredible opportunities we have today will bleed into every message and I encourage all of those who live here to be grateful for these advantages too, because we are a rare breed, us Newfoundlanders and Labradorians. We are resourceful, and resilient, and hard as the rock we live on. But we are also kind-hearted and supple as the waves that roll up and round the rocks of our shores. And that combination makes us the kind of people who can move mountains when we put our minds to it. I really want to use this booming time to benefit the people and businesses here, whether that means direct benefits or lessons learned on how to thrive in a new kind of economy. I want this year to be the year that Newfoundland and Labrador’s people innovate and grow into this success. I want my position at the Board to lead to the development of great relationships

between the businesses we so often take for granted and the communities we live in. I want us to embark on this adventure together. And it will be an adventure, because for most of us, this is the road less travelled. We’ve never been as fortunate as we are right now. I believe we have a chance – maybe a fleeting one – but a chance none the less, to really see and maybe live all the possibilities which are out there. I’m really excited about that potential and I hope you are too, because if we’re all confident and moving forward together, we’re not being naïve, we’re a determined force on the world’s stage. And success breeds success. I’ve seen it in my own business, and those around me. I can attest that teamwork leads to victory. When we’re all pulling together toward a common goal, there’s nothing that can’t be accomplished. This year, I will share my own lessons learned about diversifying my businesses from occupational therapy to a full-service, island-wide, interdisciplinary company providing workplace health. I will talk about the surprises on the road to real estate ownership as we outgrew location after location. I’ll admit to failures, big and small, because I want anyone who even thinks about building a place for themselves in Newfoundland and Labrador to know that failure is a requirement. It’s a stepping stone, an opportunity to learn, on your way to creating something worth having. I will talk about the importance of balance, that no matter how much passion you feel for your product or clients, you

Chair, Sharon Horan still need seven hours of sleep a night and a few days without your phone in hand to come up with your next great idea. These are not resolutions or goals for 2014, these are the tenants by which I live. And they will guide me during this year as I lead the growing organization of the Board of Trade, just as they have guided me through the good and bad times in my life and my business. I hope you’ll join me in this adventure. It’s going to take a lot of hard work and openmindedness to continue the momentum started here in the past few years, but I promise we’ll have a lot of fun on our way too.

Sharon Horan, Chair of the St. John’s Board of Trade, graduated from Dalhousie University with an Honors Degree in Occupational Therapy in 1987. In 1994 she opened her second business, FIT For Work. Since 1994 FIT For Work has grown to four offices across Newfoundland. In recent years Schooner Holdings, a Real Estate holding company, and Dory Holdings, an investment company, have also been formed. A committed volunteer, Sharon is a past president of the Business Association of Newfoundland and Labrador, the Pedorthic Association of Canada, a founding director of the Newfoundland and Labrador Organization of Women Entrepreneurs, and a past director of the board of the Newfoundland and Labrador Employers Council (NLEC). From 2002 to 2008 she was the chair of the Newfoundland and Labrador Occupational Therapy Board, and is a past chair of the College of Pedorthics of Canada (2003 -2008).

Business News february 2014

owner-occupied, self-managed real estate Are you achieving maximum value?

ommercial real estate values have grown steadily in the St. John’s area since the late 1990’s. Businesses fortunate enough to have acquired real estate assets prior to or at the front end of this growth period may have added significant value to their balance sheets. Value growth has been strongest during the previous five to ten years and values continue to rise in most sectors. While your property value has likely increased, it is possible that you may not be in a position to achieve the maximum value potential of your asset. Value maximization requires sound asset management strategies, and an understanding of how real estate value is created and maintained within the commercial market sectors. Within the St. John’s market, the majority of commercial-light industrial real estate is owner-occupied, or partially owner occupied, and for the most part owner-managed. For those of you who have decided to self-manage your real estate assets, it is important that your management approach recognize a number of fundamental concepts of value, otherwise there is a danger that the current or future value of your asset is less than you think, and less than its maximum potential in the market place. For starters, it is important to understand which parties comprise the potential market for your real estate asset. Your property is only worth what someone is willing to pay for it, and some market segments may pay more than others. Furthermore, the property may be worth more to your company. Its value-in-use as part of your business operations may be greater than what the market is willing to pay. If this is the case, there are strategies to ensure you achieve maximum investment return. In very general terms, the potential market for your property is either comprised of investors, owner-occupiers, or both. Understanding what factors influence purchase decisions associated with each group or sub-group is key to understanding how to maximize the value of your property. Under certain market conditions, owner-occupiers are often willing to pay more than investors, and national institutional investors may pay

more than local investors, depending upon the location, tenant mix, income stream characteristics, etc.

Glen Power

Some real estate assets may be ripe for redevelopment, particularly those that have been held by companies on a longterm basis, and may now be situated within neighbourhoods that have completely transformed with other uses. In such cases it may be that the best business decision is to move the business to a more appropriate commercial location, and sell the existing asset for redevelopment purposes. A common situation within our market place is partial owner-occupancy, with multiple tenants occupying the balance of the property. Such an asset would likely attract investor interest. In my experience however, the investment value is often less than the property’s potential due to a number of common mistakes made by owners that raise the level of risk in the eyes of savvy investors. Investors formulate purchase price through evaluation of the income and expense characteristics of the property, and the level of risk associated with maintenance and growth of cash flow. The quality of the tenancy is evaluated, as well as the potential for revenue growth and the overall liquidity and value of the asset at the end of the intended investment period. All of these items, among others, are factored into the Overall Capitalization Rate that an investor is willing to accept. While many institutional investors use sophisticated income modeling

Business News february 2014

for evaluation of real estate assets, all investors, from small local investors to the largest institutional investors, use Overall Capitalization Rate applied to Net Operating Income to formulate value and purchase price. For those of you not familiar with the commercial real estate industry’s most basic formula, Market Value = Net Operating Income / Overall Capitalization Rate. In self-management of your asset therefore, you must strive to maximize the potential Net Operating Income while lowering the overall investment risk. The lower the risk, the lower the Overall Capitalization Rate that the market would accept, and the higher the potential value of your property. Achieving this requires detailed knowledge and experience of the commercial real estate market, or otherwise professional assistance for implementation of appropriate policies and strategies. Commercial real estate is an extremely complex field, and the value of your property may be impacted by myriad factors that you may not be aware of, including national leasing and investment trends, lending policy, design trends, advancing technology, etc. While hiring a professional property manager is one way of minimizing risk and maximizing value, another method is to engage a professional appraiser familiar with your property type. Many commercial appraisers today strive to provide an added value service, whereby detailed valuation reports identify value maximization strategies, as well as shortcomings in your management approach. A small investment in professional advice may be the wisest investment you’ve ever made in management of your commercial property. Glen Power AACI, P.App., MRICS is owner and operator of Provident Valuation & Advisory Services, and has 23 years experience in the commercial real estate market in the St. John’s area and throughout Newfoundland & Labrador. He currently serves on the Board of Directors of the Appraisal Institute of Canada, the nation’s pre-eminent body of professional appraisers.

behind the boom. Who’s Booming: Hilda Broomfield-Letemplier, owner, Pressure Pipe & Steel Fabrication. In addition to her business success, Hilda is an effervescent presenter and speaker who will be featured in a video created by the Canadian Federation of Economic Educators. She has also been invited by the federal minister for the Status of Women to participate in profile series that will also include astronaut Roberta Bonder.

Grace Under Pressure:

WE ARE THE

BOOM.

Broomfield-Letemplier, an Inuit, is proud her company is 100 per cent Aboriginal-owned. Pressure Pipe and Steel Fabrication, whose products primarily serve the mining industry, was founded in 1991 and was the first “We Connect” (http://www.weconnectcanada.org ) certified company in Labrador. Through separate partnerships and relationships she manages seven companies, as well as mentoring suppliers on the best way to do business in Labrador. The unbelievable pace of the Boom has led to new and growing opportunities with Nalcor, Vale and others. Hilda is also the regional director for NLOWE and has been a member of its board for 10 years. Broomfield-Letemplier says the secret to her success is the reputation she’s built, and the belief that contracts aren’t about percentage of sale, but adding value. Her company has moved from chasing contractors and suppliers to being contacted by large companies who know what she brings to the table. She is proud to be a mentor to the women she has inspired and is grateful that she’s been able to set an example in her community and across the country.

How to get a bang out of the Boom: Broomfield-Letemplier stresses the value of finding a good mentor when you start out. Talk to someone who has been there, someone who she says “can help you make the right decisions and save you a lot of time, money and grief.”

The Booming Quote: “We’ve been here a long time. We train people and provide them with good

Keep business growing in Newfoundland & Labrador.

work and great opportunities right here in Labrador. It’s about more than doing well – it’s about doing well at home.” Hilda Broomfield-Letemplier

Business News february 2014

We’re in the business of helping you grow. When you’re trying to grow your business, the last thing you want is to overpay your taxes. At Grant Thornton LLP, our highly experienced team advises businesses—large and small—across Newfoundland and Labrador on: • • • • •

corporate structuring sales tax succession and estate planning tax compliance and planning US and international tax

Smart tax planning drives business growth. Give us a call. bill budgell, FCA | Newfoundland and Labrador Leader, Tax Services st. John’s | Suite 300 | 15 International Place | T +1 709 778 8800

GrantThornton.ca Audit • Tax • Advisory © Grant Thornton LLP. A Canadian Member of Grant Thornton International Ltd

OIL & GAS INDUSTRY CELEBRATION APPROACHING

ewfoundland and Labrador’s economy is thriving thanks largely to the offshore oil and gas industry, which has been booming in recent years. The province is experiencing a fastgrowing economy, wages are up, and unemployment is down; demonstrating the continuation of Newfoundland and Labrador’s economic boom. Of course, with this prosperity comes the need for a trained and skilled workforce that can fulfill the career needs of the industry. As a way to highlight the wealth of opportunities the industry offers our province, Oil and Gas Week began in the province in 2003 to help increase the awareness and appreciation for Newfoundland and Labrador’s oil and gas industry. Starting Feb. 24 and running until March 1, the week involves activities that promote and recognize the impact of the industry in the province, and the career opportunities associated with the industry. By providing information about the industry and future career opportunities to students, Oil and Gas Week helps ensure the advancement of the industry in Newfoundland and Labrador for future generations. The Official Launch of Oil and Gas Week will take place on at Memorial University on Feb. 24, which includes the presentation of Oil and Gas Week scholarships to students entering into postsecondary education with an interest in the oil and gas sector. Students are the key to Newfoundland and Labrador’s successful future; therefore, by giving students the opportunities and resources they need to succeed, we are helping to power the future! Energy Day, Feb. 25, is focused on providing high school students with an opportunity to learn about different areas in the industry that can yield exciting, fulfilling career choices for them after their post-secondary education. Students will be exposed to a wide range of career paths that go beyond some of the more wellknown professions, such as engineering. Jobs in the oil and gas industry extend from the area of geoscience, to business, to trades.

On Thurs., Feb. 27, Geoscience Day will take place at the Johnson GEO Centre. The day involves a seminar that analyzes ongoing research initiatives and opportunities in the provinces oil and gas sector. Later that evening, NOIA will host its 2014 Oil & Gas Industry Achievement Awards Gala at the Sheraton Hotel Newfoundland. The night consists of celebrating two leaders who have made extraordinary contributions to our oil and gas industry. The week will conclude with the Annual Oil and Gas Industry Food Drive, which will take place at various Dominion

Business News february 2014

locations in St. John’s and surrounding areas on March 1. Last year, industry employees collected over 21,000 pounds of food and $24,000. Oil and Gas Week strives to educate secondary and post-secondary students on various aspects of the industry and employment opportunities for future generations. The oil and gas industry is an important contributor to the province, and for that it deserves to be celebrated and acknowledged through initiatives like Oil and Gas Week www.nloilandgasweek.ca

are you a security target?

usiness and government leaders everywhere are taking advantage of the various technology trends gaining momentum in the next generation of information technology (IT). Large, medium, or small, all organizations want to improve efficiency, be more competitive, and ultimately, improve the service to their clients. The business landscape is being shaped by the need for mobility, the ability to manage large volumes of data, the acceptance of social networking in the business environment and shifts towards cloud computing. Various technologies are available to support these trends, from desktops, tablets, and smartphones. The development of computers is evolving, but probably nothing like our tablets and smartphones. These devices are marvels of computing power and ability and are ubiquitous in business and government. They have multi core processors and have more processing power than many of the current desktop computers. They host high definition cameras, track you and anything else using GPS, check your e-mail, and most importantly, have access to a vast array of applications, downloaded at the push of a button. Of course, you can also use your smartphone to call someone. Not only are IT network components evolving at a tremendous pace but so are the supporting infrastructures. Organizations do not necessarily need to invest into expensive infrastructure around enterprise software if they opt to use hosted services and cloud-based computing. Hosted services provide access to any software application and take care of any maintenance and updates, store data and provide a mobile environment so staff can access their documents and data anytime, anyplace. And if like many organizations, you are amassing electronic data and information at an exponential rate, the price of storage media is dropping at almost the same rate. In his latest book, The Agile Architecture Revolution, Jason Bloomberg1 has identified five super trends for enterprise IT: location independence, global cubicle, democratization of technology, deep interoperability, and complex systems engineering. Without delving into each of these five areas, the central theme is that platforms upon which businesses build their IT strategy

by the attacker, and in particular target are dramatically changing and with the internet banking services. evolution comes complexity. So what can businesses and governments However, with mobility, the push to adopt do? Simply, be prepared as you consider or new technologies, and complexity comes adopt these new trends. As organizations a target-rich environment for would be ITbased attacks. The evolution of technology adapt to the changing technologies, so should they adapt their security strategy spawns the evolution of the threat, their and continually assess their appetite attack methods, and their motivation. for risk. Organizations Where technology generally have more goes, attackers experience and will follow. The understanding in securing motivation of the traditional devices such attack is driven as desktops and laptops, by the business but mobile devices type – stealing present a new security payment card challenge for most information organizations. Indeed, from retailers there are challenges and intellectual in the fact that mobile property devices are accessing from service the internet on 3G or organizations and LTE networks and are manufacturing outside the control of companies. the corporate firewall. Verizon’s “ 2013 The defence in depth Data Breach concept is still a valid Investigations Dennis Weiss is the President of EWA-Canada. security strategy. It Report” 2 encompasses enterprise identifies the following breakdown of victims: 37per cent wide security policies (e.g. user and device authentication), usage policies, “bring financial organizations; 24per cent retail your own device” policies, contractual organizations; 20per cent manufacturing, agreements with cloud services providers utility and transportation organizations; (for example, defining who owns your and 20per cent professional service firms. data), security assessments, and aggressive Attackers are more sophisticated and protection of networks and data (e.g. better funded. browser protection, transaction security, By way of threat examples and their application security) –all contributing to a targets, social networking sites, which robust security solution. are being used by more businesses today Verizon’s report2 highlights a very telling to take advantage of the tremendous exposure potential to their products and fact about today’s business environment services, have seen increases in social – “Some organizations will be a target engineering attacks. Cloud services can regardless of what they do, but most provide significant financial and support become a target because of what they do.” advantages and hence attract many organizations. The target for attackers EWA-Canada is the large amount of data (financial, 139 Water St., Suite 601 intellectual property, information offering St. John’s, Newfoundland competitive advantage, etc.). AndroidA1C 1B2 based smartphones are amongst the most Tel (709) 726-0667 targeted platforms. The most common type Fax (709) 726-0668 of attack is to install fake applications that e-mail: EWAinfo@ewa-canada.com result in full control of the smartphone web: http://ewa-canada.com References: 1. Bloomberg, Jason, “The Agile Architecture Revolution”, Wiley, February 2013. 2. Verizon, “2013 Data Breach Investigations Report”, http://www.verizonenterprise.com/DBIR/2013/ April 2013

Business News february 2014

Achieve communications excellence

ith a new year underway, do you have any career goals? Perhaps a resolution to focus on your professional development and become a member of an accredited organization, grow in your current role, or change careers entirely. Do you set professional goals each year? If your answer is yes,this article may be of interest. Our capital city is booming, and there is exceptional work happening throughout the entire province. There are many organizations throughout Newfoundland and Labrador that can enhance your career or provide a network of Nikki Poole professionals to network and speak with. Being part of a membership organization provides the face-to-face connection and interaction that our social media world cannot provide. Membership to an organization can provide the connections to further your career or impress your employer with a project you are working on. The International Association of Business Communicators is an example of such an organization that can help further your career and keep your skills sharp. As a sales professional, I realized that communications and being an effective communicator are necessities for my own career, so two years ago I chose to become a member of the Newfoundland and Labrador chapter of IABC. It doesn’t matter if you don’t have a title next to your name, or if your title is unrelated to communications, we are all still involved in communications. The goal of the local IABC Chapter is to provide a network where professionals and students can share information, develop careers and expand knowledge. Locally, the chapter has been serving members for more than 20 years. IABC NL holds a solid membership of 80 professionals and students, with an ultimate goal of 100 members across the province. IABC NL celebrates excellence in communications each year with the IABC NL Pinnacle Awards and Gala. This is an opportunity for professionals to showcase

their hard work and have an opportunity to win an award in a variety of categories. Often times, we work hard throughout the year and go month to month, project to project without recognizing that our work really is original, exceptional and deserves to be recognized in the community. The Pinnacle Gala brings together communications professionals

and students for an evening of networking, showcasing and awards. Pinnacle submissions are due March 21, 2014 and the Pinnacle Awards Gala is May 22, 2014. Mark your calendars now. If you have questions about the awards program or how to put together an award winning submission, you can reach out to the local Board of Directors for IABC on the website at: nf.iabc.com.

For more information on how you can become involved in this professional organization, visit: iabc.com and locally we are: nf.iabc.com. For updates on professional development events and all things communications in our province, we can also be found on Facebook at: IABC Newfoundland and Labrador or follow us on twitter @ IABCNL.

Will the industry change you? Or will you change the industry? At Deloitte we’ve combined the disciplines of audit, tax, consulting and financial advisory to provide the kind of 360-degree thinking that lets us approach challenges more broadly and deeply. Together, we can make sense of your complex issues. To learn more about our services please contact Brian Groves, Partner and Marketplace Leader – NL bgroves@deloitte.ca or 709-576-8480 www.deloitte.ca

Business News february 2014

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Heading Text

Federal Government Pre-Budget Consultations The board participated in the federal government 2014 pre-budget consultations in January. Areas of focus were: growing the population, encouraging a culture of innovation, investing in transportation and continuing to pay down the federal debt.

Conservation Measures The board is asking members to conserve electricity during peak times (7am-10am and 4pm-8pm). Here are 5 ways you can make a difference and help your community:

Go East to find talent and opportunity When in Ireland recently on a recruitment mission for our members, the St. John’s Board of Trade met with Ireland’s Ambassador for Canada Loyola Hearn to discuss opportunities for local business in Ireland. We’re considering another trip to the UK and would like our members to attend. If you’re interested in going to the UK and Ireland for recruiting employees or business development, contact our offices at 726-2961 and ask for Alisha or Nancy, who will help you find out about how to get involved.

Turn off lights in rooms that are not being used,

Use lower wattage lights for general lighting,

Unplug electrical appliances and chargers when not in use.

Learn ways to conserve by visiting www.gov.nl.ca/conservation_safety/ conservation_measures.pdf Visit Take Charge NL today takechargenl.ca/business/

Turn down thermostats when leaving for the day,

Changes to the EI System Have changes to the Employment Insurance system impacted your business? We want to hear your story. Please contact: Rhonda Tulk-Lane, 726-2961, rtulk-lane@ bot.nf.ca

Use sensors or timers on exterior lighting to reduce the amount of time lights are on,

Give your business the professional address it deserves. Virtual offices, Boardrooms, Single and Joint Offices, now available!

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www.TheBusinessSuites.ca 709.364.FLEX (3539)

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he Board of Trade has a lot lined up for you in the upcoming months to help mentor you in Labrador and Northern business opportunities. These initiatives are all about you, the members and what we can do to help you do better business. Our goal is to equip you with the tools you need to do business in the big land.

Labrador Online Our Labrador page is now live at www.bot.nf.ca/business-in-labrador.asp. This serves as a one-stop-shop where you can find all the information you need about doing business in Labrador. There are links and information regarding ongoing and upcoming Labrador projects; identifying your opportunity in Labrador. There is information about Aboriginal groups, joint ventures, transportation, events, success stories and more. If you have questions which you can’t find the answers to, let us know and we’ll help you directly and add your questions to our Frequently Asked Questions section. This is a page which we plan to keep active and fresh with new information all the time.

Trade Mission to Labrador West We are planning a trade mission to western Labrador in April to give members the opportunity to meet with businesses in Wabush and Labrador City. This is your chance to talk directly with companies there and seek out potential partnerships and learn how to do business in Labrador west.

Labrador 101 Series We will be hosting a number of sessions in the next several months, which will include a variety of speakers discussing several topics related to Labrador. We’ll do a series of sessions to educate you about aboriginal business, land claims, joint ventures, geography, history, climate, the transportation/shipping of goods and services to Northern climates, and opportunities with industry. Keep your eyes peeled for more information about our Labrador 101 series.

Expo Labrador Delegation We will be taking a delegation to the Expo Labrador Conference and Trade Exhibition in Happy ValleyGoose Bay in June. This is Labrador’s primary resource conference. Last year, the Board of Trade arranged for more than 40 people to attend the event and the delegates found it extremely beneficial to their business.

Business News february 2014

For more information please contact Erika Stockley, Mentor for Labrador and Northern Opportunities at 726-2961 ext 116 or email estockley@bot.nf.ca.

unresolved conflict can cost your business

By Brenda Kelleher-Flight Signs Which Cost Money

usiness owners may not want to admit it, but they do experience high costs when conflict occurs. This conflict may be subtle or very visible within the organization. It is essential for business owners and managers to recognize the most common signs of stress which frequently underlie conflict. These include abrupt demonstrations of quick temper, blaming others, failure to take breaks, and being fatigued. Stressed individuals may focus on others’ shortcomings, use any excuse to take time off work, can be difficult to please, and are often unable to identify the cost of their behaviour to the company. How Does Conflict Occur Conflict occurs when employees are fearful. They think backbiting is an acceptable behaviour and often form cliques. It is nurtured where it is possible to sabotage others’ efforts and where expectations are unrealistic. When managers or owners demonstrate inconsistent behaviour patterns and have inadequate methods to solve conflict the company suffers. Companies exhibiting a noticeable lack of respect or inconsistent expectations often have lower morale, and higher rates of turnover and sick leave. How Companies Support Conflict There are multiple ways companies are a breeding ground for conflict. Listed are just a few of these.

Unidentified products Companies know what they sell or the services they provide. However, they fail to identify for their workers what that feels, sounds or tastes like. For example, if there are three hotels which are identical physically, their products may be very different. One may promote fun and parties. The second may promote peace, quiet, and comfort. The third may be selling the notion that it caters to one’s every need –nothing is too much trouble for the employees. As a result of the product they are actually selling, each hotel will sound and feel different. Employees will influence what the product is when it is not succinctly spelled out by the owners. Untrained managers An individual may be quite proficient in his or her profession, however this does not necessarily mean that this person knows how or wants to manage others. When a manager fails to manage adequately, ignores issues until they escalate, or is inconsistent in his or her approach, it costs the company. One-to-one coaching can provide these individuals with the skills they need.

Unclear processes and expectations Who within the organization who has the responsibility for orientation? When roles are not delineated and the expected outcomes specified, individuals naturally put their own interpretation on acceptable or stellar performance.

Failure to recognize the connection between a person’s mind-style and job requirements Those employees who think concretely do well with tasks that involve concrete

Business News february 2014

Brenda Kelleher-Flight

objects or specific instructions. Others employees think abstractly and prefer working with ideas. Some employee’s style is to work sequentially while others like to do things randomly. For example, consider an employee who likes to work with ideas, do things randomly, and put his own creativity on his work is hired for a job that requires a person to do a task a specific way each time. That person’s chances of succeeding at the job and meeting the owner’s expectations are considerably reduced.

Lack of problem solving methods It is possible to learn specific methods for solving problems and dealing with conflict. It is vital for managers to know at least two methods which they can use, depending on the circumstances. Key Message Critical to the company is solving conflict early thus saving money and improving productivity. Brenda Kelleher-Flight is a mediator who provides one-to-one coaching in conflict resolution methods face-to-face, and via Skype and telephone. Also, she provides free articles to support companies at http:// gdpconsulting.ca/conflict-resolutionmediation-articles/.

Your Board of Directors

haron Horan, Chair

Sharon Horan is the president and founder of a number of small business enterprises. FIT For Work is a multidisciplinary health center, operating from four locations in the province offering injury-prevention and injury-management services. Atlantic Orthotics is a full service pedorthic center focusing on sports injuries and biomechanics of the foot and ankle. Schooner Holdings is a real estate holding company with property ownership in St. John’s and the Humber Valley. Dory Holdings is an investment company participating in venture capital initiatives. Sharon has an Occupational Therapy degree from Dalhousie University and a post-graduate certification as a pedorthist from the College of Pedorthics of Canada. She also has a number of post-graduate certificates related to injury prevention and injury management interventions. Sharon is also a committed volunteer, participating in several local and national professional organizations. She was chair of the capital campaign to build the new YMCA in St. Johns and has been recognized as a Paul Harris Fellow for her work with Rotary in St. John’s East.

im Keating, Senior Vice-Chair

Kim Keating is the director of projects with GJ Cahill & Co. Kim has more than 16-years experience in the Newfoundland and Labrador offshore oil and gas industry. She started work on the Hibernia project and, in 1997, joined the Terra Nova project design team, located in the United Kingdom, with Petro-Canada (now Suncor Energy). Kim held a variety of positions throughout the Terra Nova development from engineering design through to construction, commissioning and finally production operations. Kim has

also supported field development activities for other East Coast developments including White Rose, Hibernia and Hebron as well as Beta Brent in Norway, and Buzzard and Golden Eagle Area Development in the UK. Kim holds a bachelor of Engineering from Memorial University and is a registered member of the Professional Engineers and Geoscientists of Newfoundland and Labrador (PEGNL). She also holds her Canadian Registered Safety Professional (CRSP) designation and has completed her masters in Business Administration. Kim is on the MUN Board of Regents, a member of the Rhodes scholarship in Canada regional selection committee and a past president of WISE NL (Women in Science and Engineering). Kim also participates on several advisory committees to both PEGNL and Memorial University. Kim is married to Jim Keating and has three daughters Karoline, Ava and Madeline.

es Whelan, First Vice-Chair

Des Whelan is the president of Keyin College. He has more than 20 years of experience in business with a strong background in sales of technology, management and human resources. Des has brought a strong business planning focus to the college and is part of a team driving the college’s development in Newfoundland and Labrador and beyond. Des is a graduate of Memorial University, with a bachelor of Arts, majoring in economics and holds a professional manager designation from the Canadian Institute of Management. In addition to the Board of Trade, Des serves as the president of the Newfoundland Labrador Association of Career Colleges, is a member of the Provincial Council of the Duke of Edinburgh’s Award, a founding board member of the Newfoundland and Labrador Volunteer Hall of Fame, and a member of the board of directors of the Newfoundland and Labrador Association of Career Practitioners.

Business News february 2014

orothy Keating, Second Vice-Chair

enis Mahoney, Immediate Past Chair

Dorothy is a graduate of Memorial University of Newfoundland Bachelor of Commerce (Co-op) Degree program (1990) and received her professional designation as a Chartered Accountant in 1992. Dorothy started her career with Noseworthy Chapman in 1988 and left the firm in 1993 to pursue other challenges in Industry and professional practice. As a Senior Manager with a national CA firm, Dorothy has provided business advisory services to entrepreneurial, multinational, and non-profit clients of all sizes in Newfoundland and Labrador. She has managed several large engagements including a university, a publicly traded utility, as well as a publicly traded company engaged in telecommunications. During her career in industry, Dorothy has served as the Controller of a Newfoundland owned and operated distribution company and Corporate Controller and the divisional Vice President of Finance of an international publicly traded fish harvesting and processing company. Dorothy’s primary areas of service include audit and assurance, taxation and business advisory services. Dorothy is currently chair of the Institute of Chartered Accountants of Newfoundland and Labrador and serves as the Chair of their Strategic Planning Committee. Dorothy has been involved in many community activities including serving for eight years as a municipal councillor with the Town of Torbay.

Denis Mahoney is a partner with McInnes Cooper in St. John’s working with the labour and employment group. He assists employers in many sectors including mining, oil and gas, construction,

Your Board of Directors transportation and service sectors. Since joining the St. John’s Board of Trade Denis has advocated for labour market growth, a sustainable economy, and public sector reform. Denis has been recognized by Best Lawyers in Canada for his practice in Labour and Employment law, is noted as a leading practitioner in Canadian Legal Lexpert Directory of 2013. Denis is also a Member of the Advisory Committee for the Centre for Law in the Contemporary Workplace at Queen’s University, an employer representative appoint to the Labour Management Arbitration Committee, sits on the Public Service Awards of Excellence Selection Committee and is Past Chair of the Newfoundland and Labrador Employers’ Council and Business Coalition. Denis is supported by his darling bride Jacqueline and their three grown children, in addition to being a proud grandfather. He’s a Boston Bruins fan, barbeque

erek Purchase, Secretary/Treasurer

Derek Purchase is a senior partner with Ernst & Young (EY) and has more than 30 years experience leading teams and providing various audit and assurance services to clients. At EY Derek is the assurance services leader for Atlantic Canada, and provides audit and advisory services to many large private and public clients. Derek holds an Honours Bachelor of Commerce degree from Dalhousie University (1982); Chartered Accountant (1985); Northwestern University Executive Development Program (1999). Derek joined EY in New Bruns¬wick in 1986 and was admitted to the partnership in 1991. He was named New Brunswick managing partner in 1995, and in 2000 he was appointed Newfoundland managing partner. He was subsequently Atlantic Canada Managing Partner from 2003 to 2007. Derek has served on the Canadian Partnership Board, the Americas Partner Advisory Council (reporting to the Global CEO of Ernst & Young), and has also served as Telecommunications Industry Leader for Canada. Derek is married to Susan and they have three children.

ndrea Stack, Director

Lead investment advisor with The Stack Team at CIBC Wood Gundy.

addy Phillips, Director Consultant, RBC Group Solutions.

anis Byrne, Director

Chief legal officer for the Pennecon Group of Companies.

evin Peters, Director

Kevin Peters is the chief operating officer of the Hickman Automotive Group.

Business News february 2014

illiam C. Griffin, Director

Lead mechanical engineer, AKER Solutions

raig Ennis, Director

Senior communications counsel, Atlantic Lottery.

im Fallon, Director

Regional vice-president, BMO Bank of Montreal.

im Sparkes, Director

Kim Sparkes is the owner and operator of Wh!nk.

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Fairfield Mixer

around the board

Rob Moore Luncheon Fairfield Inn & Suites by Marriott and the Board of Trade held the first mixer of 2014 at the newly opened hotel on Kenmount Road. The networking, food and drinks were excellent. Sadly, no one rode the much-talked about and highly-visible waterslide.

Rob Moore, minister for ACOA and regional minister for Newfoundland and Labrador talked about prosperity in this province, the impacts of CETA on local business, and that day’s prebudget consultation session, which the Board of Trade attended, at our recent luncheon at the Comfort Inn Airport.

Connecting Talent and Opportunity. Right Here. For over 14 years, our team has been rooted right here in Newfoundland and Labrador where we keep a finger on the pulse of the local business community. It’s how we discover the best talent for our clients... and ourselves. Join us in welcoming two new members to our growing team at Atlantic Canada’s largest human resources consulting and recruitment firm: Beverley Evans, NL Practice Leader, Executive Search, Knightsbridge Robertson Surrette and Shane McClafferty, Consultant, Meridia Recruitment.

Beverley Evans NL Practice Leader, Executive Search, Knightsbridge Robertson Surrette

Shane McClafferty Consultant, Meridia Recruitment

Julie Gorman Senior Consultant, Meridia Recruitment

Natalie Hand NL Practice Leader, Meridia Recruitment

Business News february 2014

Meet our new team members. Visit kbrs.ca/Beverley_and_Shane | (709) 722.6890

EEP BOOMIN Thank You! Thank you for making the 2014 Business Development Summit a BOOMING success! We would like to thank the speakers who provided their valuable insights, to the exhibitors who showcased their local products and services to hundreds of visitors at the Trade Show and to all of our sponsors who made this event possible. We look forward to seeing you next year â&#x20AC;&#x201C; keep booming!

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around the board New Ambassadors

We couldn’t be a successful organization without the help of our many volunteers, including our exceptional Ambassador Team. Please welcome our new Ambassadors when you spot them at Board of Trade events or get in contact with them to discuss how we can serve you better.

Jason L. Spurrell Senior consultant Management Consulting Group KPMG LLP

Julie Sheppard Director of sales and marketing Quality Hotel-Harbourview

Nichole Tetford Workplace consultant Atlantic Business Interiors

Kate Jewer Marketing manager O’Brien’s Whale and Bird Tours

Nicole Tucker Leasing and marketing/property administrator NPR Commercial Property

Turn to page 14 and 15 to meet your new Board and Executive. 20

Business News february 2014

Stu Greenoff Event and corporate relations manager Newfoundland Chocolate Company

your new chair Continued from cover story page 2...

“I’m a very eclectic reader,” she says. “I’m inspired by reading. I’m a naturally curious person,” she says noting that whether she’s reading about the “50 Best Managed Companies,” or a tucking into a Jodi Picoult novel, she’s always thinking about how she would react in the situations she’s reading. As for a favourite TV show or movie, Horan says she doesn’t have one. In fact, she usually watches something to zone out and never really remembers the content. She laughs saying that when she and Parrell watch a movie, he’ll say they’ve seen it before, but it’s like a brand new experience for her each time, because she remembers nothing about the characters or plot. “I’ve seen The Blindside like seven times,” she says laughing. But Horan’s true downtime is almost always outdoors. This year Horan tagged her first moose, she’s an avid canoer, fisher, swimmer, skidooer, skier; if you can name an outdoor sport, she’s excited about it. Her passion for the outdoors, her sanctuary in the woods, is one of the reasons she purchased a house in the Humber Valley. And her desire for balance is why she spends as much time there as her work and other activities allow. “It’s a perfect world for me. That’s where I need to be. Eventually more time than now, but we’re really enjoying the time we get to spend there now,” she says.

Horan, an admittedly private person, was born and raised in St. John’s by parents Verna and Capt. Cornelius (Con) Horan. Horan says her love of being on the water came from her father, who spent his life captaining Marine Atlantic ships. Horan’s older brother Paul Murphy, a decade older than her, currently works with Fit for Work as a the Manager of Operations. “He’s the workaholic,” she says of her brother. “We’re close. We have each other’s’ backs for sure.” Her sister Beverly, a retired nurse, Murphy, and Horan currently spend a lot of time with their mother since Verna’s Alzheimer’s diagnoses in 2006. “Family is so important to her,” says Mahoney or Horan. “Friendship means a lot to her. “Our relationship that we’ve forged through the Board of Trade will last for many years to come,” he says. “The people of Newfoundland and Labrador are very lucky to get her as a leader for the business community. They’re very lucky for her

to volunteer her time… and she’s doing it only because she cares and it matters to her. And when it matters to Sharon Horan, things are going to happen.” And Mahoney’s advice for Horan as she takes the helm? “Enjoy it. It is one of the best years you can put in,” he says, adding that she should reach out when she needs help because the organization will respond in kind. “Stake out what’s important and get that message across throughout the year,” Mahoney says. “Speak from the heart and from your experience … “I know that she’ll make 2014 a better year for business advocacy, and service to our members as a result of her leadership, her management, and her personal style. “She’ll throw herself into it, skidoo boots and all.”

FAST FACTS • Horan graduated from Dalhousie University with an Honors Degree in Occupational Therapy in 1987. • She opened her first business, Atlantic Orthotics Ltd. in 1989. • 1994 she opened her second business, FIT For Work. • Canada’s Top 100 Female Entrepreneurs, Profit Magazine in 2011. • Employer of Distinction, NLEC in 2010. • NLOWE Innovation award in 2013. • She is a past president of the Business Association of Newfoundland and Labrador, as well as the Pedorthic Association of Canada. • 2003 -2008 chairwoman of the College of Pedorthics of Canada. • A founding director of the Newfoundland and Labrador Organization of Women Entrepreneurs. • Chaired the fundraising campaign to build a new $16 YW-YMCA in St. John’s. • From 2002 to 2008, she was the chairwoman of the Newfoundland and Labrador Occupational Therapy Board. • Member of Rotary Club of St. John’s East. • Awarded a Paul Harris Fellowship by Rotary club members for her voluntarism and extensive contribution to fundraising in Rotary. Business News february 2014

member news Destination St. John’s launches updated site Destination St. John’s (DSJ) is has launched a dynamic, responsive website at www. destinationstjohns.com In 2011 DSJ launched a new brand. Colourful Encounters, the new site design is being used to keep that brand fresh and provides a highly functional tool, which is easy to navigate and is responsive. John Atkins, Owner and CEO of JAC, was the designer of the new site’s look and feel, which has a more intuitive search, mobile-friendly design, and a revised navigation.

“So Right, So Smart” showing your business how to become sustainable Green businesses make more green. “So Right, So Smart” is an award-winning documentary looking at how companies like Patagonia, Seventh Generation, Interface Inc. and Walmart have turned green practices into profitable gains. The film also features interviews with David Suzuki and Dr. Mark Milstein, Director of Cornell University’s Centre for Sustainable Global Enterprise. The St. John’s International Women’s Film Festival and the Newfoundland Environmental Industry Association copresent “So Right, So Smart” on Wed., Feb. 5 at the LSPU Hall. Drinks and snacks at 7 pm followed by an 8 pm screening. Admission is $10 regular and $8 for students and seniors.

Members to support Super Start-Up program

A sweet rebrand for Dray, now Plum Dray Media has launched a new name and brand. Plum Creative Works is the new face of the company.. After 16 years as Dray Media, the shop announced it is changing its name after making five new additions to its full-time staff. Recent hires include Darrell Edwards as creative director in April, and most recently, business consultant Lou Puddister joined on Jan. 1 as agency business developer. The team decided on the new name together to reflect the agency’s new direction. “Plum” to represent fresh ideas, “Creative” to represent the company’s main focus and “Works” as a callback to an old-style of dealing with clients.

Business News february 2014

In celebration of Atlantic Business Magazine’s 25th anniversary, Telelink is proud to announce their sponsorship of ABM’s Super Start-Up Program, supporting aspiring Atlantic Canadian entrepreneurs with start-up funding and mentorship. Pictured here is Chris McDonald of Telelink alongside sponsor representatives from Altius Minerals, Hickman Automotive Group, Newfoundland and Labrador Credit Union, Newfoundland and Labrador Liquor Corporation and Pluto Investments.

Viking Supply Ships open in St. John’s Viking Supply Ships (VSS), an international oil and gas supply shipping company, has opened its first Canadian office in St. John’s to support its offshore service work in Newfoundland and Labrador. VSS has previously been involved in work with oil companies active at the White Rose field and more recently in the deep-water Orphan Basin.

Governments confirm Muskrat Falls financing The province along with the Government of Canada, the Government of Nova Scotia, Nalcor, Emera and the Innu Nation, announced recently that all the conditions for the Federal Loan guarantee have been met. The agreement – a $5 billion loan over a 40 year term at a blended rate of 3.8 per cent - will save more than $1 billion in interest payments on the cost of developing the project. TD Securities and Goldman Sachs helped leverage a syndicate of financial institutions, raising the $5 billion required to fund the project. Muskrat Falls, already under construction, should meet and exceed the province’s power needs, allowing the retirement of the Holyrood generating station, as well as the sale of excess power to other grids.

Patten one of the most important women in Canada

Susan Patten, chair of the board of directors of A. Harvey & Co. was recently named one of Canada’s most important women by the Women’s Executive Network, Canada’s leading organization dedicated to the advancement and recognition of women in management, executive, professional and board roles. Annually, the Women’s Executive Network recognizes 100 women leaders in the country who have moved to the highest levels in their respective fields, overcoming

obstacles to become some of Canada’s most powerful women. Patten is one of 18 Canadian women in 10 categories to be honoured as the recipient of the Glencore Trailblazers and Trendsetters Award. The Women’s Executive Network classifies the women who achieve this award as fearless, ambitious, innovative, determined, natural leaders and true pioneers. Patten has also been named to the Order of Newfoundland and Labrador and the Order of Canada. Premier Kathy Dunderdale also received a special honorary Top 100 Award for setting an example for all women who strive for more in their professional and personal lives.

BOT member wins innovation award JAC, a leading web design company in Newfoundland and Labrador, has been named Innovator of the Year by the Independent Living Resource Centre. The company was recognized for encouraging its clients to use accessibility features to ensure that their websites address people with disabilities. Started in 2009, the Independent Living Awards have been presented by ILRC to recognize the commitments made by people in the community in promoting the full inclusion of people with disabilities. “Although our most prominent site for accessibility is inclusionNL, we encourage all of our clients to adopt any number of options that we now offer to ensure their online presence is as inclusive as possible. In fact, a number of them involve several modifications that we use by default, which may not be noticeable to the average user, but can make a big difference to those who need them,” said John Atkins in receiving the award.

CNA becomes only Cisco training ground in Atlantic Canada College of the North Atlantic continues to create opportunities for students as a Cisco Networking Academy partnership has been implemented. CNA is now the only fully accredited Cisco Instructor Training Centre

Business News february 2014

and Academy Support Centre in Atlantic Canada. “Cisco is a company that supplies networking equipment and offers training on their products worldwide to schools and educational institutions,” said Jackie Reid, an information technology instructor who delivers Cisco Academy curriculum at CNA and is one of the academy success leads. Created by educators, for educators, Cisco Networking Academy offers curriculum at no cost to not-forprofit educational institutions such as CNA. The curriculum emphasizes critical thinking, problem solving, and collaboration as well as practical knowledge. CNA has four active local academies which deliver the Cisco curriculum at the Prince Philip Drive, Ridge Road, Burin and Corner Brook campuses.

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industry news Businesses required to be registered

The City of St. John’s has implemented a business registration process requiring all commercial businesses operating in the City (with the exception of mobile and transient vendors) to complete and submit a business registration form. Businesses can access and submit the business registration form directly on the City of St. John’s website. There is no fee associated with registering a business. Registered businesses can receive a listing in the City of St. John’s online business directory as well as a subscription to a monthly newsletter and other updates. To access the business registration form or to obtain more information visit www.stjohns.ca or contact Access St. John’s at 311 or (709) 754-2489.

Oceans Conference coming to capital city

For the first time ever, the OCEANS’14 MTS/IEEE Conference and Exhibition will be held in St. John’s. OCEANS’14 is a major international forum for scientists, engineers, and responsible ocean users to present the latest research results, ideas, developments, and technologies in oceanic engineering and marine technology. From Sept. 14-19, 2014 OCEANS will bring 1,200 delegates and 150 exhibitors to St. John’s. To learn more about OCEANS ’14 visit the conference website: www.oceans14mtsieeestjohns.org

gas production. Growth in the construction sector will continue to be positive this year, though more modest than in recent years.

St. John’s area posts higher vacancy rate

The vacancy rate for private apartments in the St. John’s area increased to 3.2 per cent in October 2013, remaining above the 10 year average of 2.5 per cent. According to Canada Mortgage and Housing Corporation’s Rental Market Report, average rents continue to climb in St. John’s. The average monthly rent for a two-bedroom apartment in October 2013 was $864 compared to $798 a year ago.

NL salaries highest in Atlantic region

A report on salary trends for 2014 suggests salaries in this province are now highest in Atlantic Canada. The report prepared by Gerald Walsh Associates used information from Statistics Canada, surveys from various professional and industry associations, and its own information on placements, to determine a factor figure. To compare salaries for the same jobs in other Atlantic Canadian cities, the report applies a factor of 1.05 to St. John’s, meaning the salary for a job in NL’s capital city is likely 5 per cent higher than the salary would be for the same job in Halifax.

Credit rating confirmed at A+ again for province

Standard & Poor’s has confirmed Newfoundland and Labrador’s credit rating at A+ with a stable outlook. In its release S&P acknowledged the province’s strong economy, along with the provincial government’s fiscal management and positive liquidity position. S&P commented that the province “possesses several attributes that mitigate the potential downside effect of its significant resource royalty revenues. Chief among them are its large cash balances, which are available as a potential fiscal stabilizer. The province has also chosen to allocate past operating surpluses primarily to nonrecurring capital investments, as opposed to base budget increases. We expect its conservative management practices to continue in the next two years.” S&P noted the province’s debt burden is the third-lowest in Canada and that operating surpluses have allowed the province to deliver tax cuts and make capital investments without issuing debt since fiscal 2008.

St. John’s leads economic growth in 2013

Increased offshore oil production will make St. John’s the fastest growing economy among 15 Canadian cities in 2013, according to The Conference Board of Canada’s Metropolitan Outlook. Economic growth is forecast to reach five per cent in 2013 in St. John’s and is expected to more than recover from a 3.2 per cent decline in 2012. As the hub for the provincial offshore petroleum industry, the St. John’s economy will get a lift from higher offshore oil and

Business News february 2014

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Business News february 2014

new members PPI Solutions (Atlantic) Inc. Keith Newhook, President & CEO 6 Mount Carson Ave, Suite 105 Mount Pearl, NL A1N 3K4 709-782-5500 709-782-4500 knewhook@ppisolutions.ca

Satin Laser Spa Tammy Norman, Owner 655 Topsail Road St. John’s, NL A1E 2E3 709-800-7688 tammy@satinlaserspa.com

United Rentals Craig Hannum, Branch Manager 31 Sagona Avenue Mount Pearl, NL A1N 4P9 709-368-7368 709-748-3302 channam@ur.com

Hardwood Depot Joyce Bovis, Office Manager 38 Bannister Street Mount Pearl, NL A1N 1W1 709-364-9663 709-364-8405 Hardwood_depot@yahoo.ca

The Works Gourmet Burger Bistro Barry Peters, Owner 36 George Street St. John’s, NL A1C 1J4 709-237-9055 barryp@wroksburger.com Canadian AV Inc. Brad Hollett, Delta Operations Manager 22 Pearl Place St. John’s, NL A1E 4P3 709-739-6666 709-739-6455 bhollett@canadianavinc.com Modis Canada Inc. Michel Plouffe, Vice President & Managing Director 155 Queen Street, Suite 1206 Ottawa, ON K1P6L1 613-786-3106 ext 240 613-232-6611 Michel.plouffe@modis.com Jyoti Structures Canada Ltd. Mrugesh Patel, E.V.P 18 Sheffield Street St. John’s, NL A1A 4N9 709-237-3347 Mrugesh.patel@jyotiamericas.com Frogbox St. John’s Glenn Thorne, Owner 38 Pearson Street, Suite 202 St. John’s, NL A1A 3R1 709-689-6454 Glenn.thorne@frogbox.com

BDO HELPS ORGANIZATIONS RUN SMOOTHLY Our dedicated team of professionals offers practical solutions to your unique challenges. We serve a wide range of industries across Canada — including yours. Assurance | Accounting | Tax | Advisory People who know, know BDO.SM Steve Belanger, FCA

Boyde Clarke, FCA

200 − 53 Bond Street St John’s NL A1B 3N9 709 579 2161 www.bdo.ca

Business News february 2014

Business and Arts NL Randy Follett, C.E.O. P.O. Box 265 Stn “C” St. John’s, NL A1C 5J2 709-770-4425 ceo@businessandartsnl.com MQO Research Carolyn O’Keefe, President 5 Job Street St. John’s, NL A1B 4B7 709-753-5172 709-738-5288 carolyn@mqoresearch.com Let’s Talk Science Craig White/ Holly Baker 5 Nagles Hill St. John’s, NL A1B 2Z2 709-754-4965 709-754-4406 hbaker@letstalkscience.ca

new members Roundtable Creations – Graphics/Web Design Ian McYer, Graphic Artist / Web Designer 582 Southside Road St. John’s, NL A1E 1A5 709-691-3941 roundtablecreations@live.com

VERICO Mortgage Doctors Harold Lambert, Assistant Manager 25 Kenmount Road St. John’s, NL A1B 1W1 709-576-6622 709-576-6618 haroldlambert@mortgagedoctorsnl.com

Shakespeare by the Sea Festival Jennifer Deon, Chair , Board of Directors 11 Bavidge Street St. John’s, NL A1A 5B9 709-743-7287 jenn@shakespearebytheseafestival.com

Opal & Onyx Clothing Alison Halleran, Owner 140 Stavanger Drive, Unit 2 St. John’s, NL A1A 5E8 709-754-3100 709-754-3100 alisonhaleran@opalonyxclothing.com

Metrics Business and Fiscal Consultants Robert Vardy, Principal Box 1818 St. John’s, NL 709-547-2687 rvardy@metricsbfc.ca Gennie Rose- Exit Realty on the Rock Gennie Rose, Realtor 25 Kenmount Road St. John’s, NL A1B 1W1 709-727-1725 709-576-6688 gennierose@exitrealtynl.com Karen Hickey- Exit Realty on the Rock Karen Hickey, Realtor 25 Kenmount Road St. John’s, NL A1B 1W1 709-685-4357 709-576-6688 karenhickey@exitrealtynl.com

RBC Mortgage Specialist Renita Ratcliff, Mortgage Specialist 226 Water Street St. John’s, NL 709-725-1563 Renita.ratcliff@rbc.com Dillon Consulting Limited Stephen Pellerin, Partner Barry Bridger, Partner 66 Kenmount Road, Suite 203 St. John’s, NL A1B 3V7 709-754-2374 709-754-2380 spellerin@dillon.ca , bbridger@dillon.ca The Golden Tulip Julia George, Owner 295 Water Street St. John’s, NL A1C 1B9 709-753-4653 info@thegoldentulip.ca

Business News february 2014

Mandy Woodland Law PLC Inc. Mandy Woodland, Lawyer 24 Portugal Cove Road St. John’s, NL A1B2L7 709-697-2524 mlwoodland@gmail.com Newfoundland & Labrador Folk Arts Society Inc. Erin Whitney, Office Manager 223 Duckworth Street, Suite 206 St. John’s, NL A1C 6N1 709-576-8508 709-757-8500 office@nlfolk.com Fairway Productions Inc. Robert Pope, Owner / Head Producer 40 Portugal Cove Road St. John’s, NL A1B 2L9 P: 709-738-0746 M: 709-725-5242 thebobpope@hotmail.com NL Modular Shawn Robinson, Vice - President 390 Topsail Road P.O. Box 39010 St. John’s, NL A1E 5Y7 709-753-0424 709-754-6719 srobinson@nlmod.ca Chimo Construction Management Limited Ron Hickey, President P.O. Box 21353 1 Crosbie Place, Suite 102 St. John’s, NL A1B 3Y8 709-739-5900 709-739-5511 rhickey@chimoconstruction.com

y r a u r b Fe upcoming events

St. John’s Board of Trade 101 We are inviting all members, whether you have recently joined or are a long standing member, to join the staff of the Board of Trade for a detailed orientation refresher on how to make the most of your membership. Date: Time: Location:

Luncheon Join president & CEO of the AHL, David Andrews as he speaks to the Board of Trade. You will want to be where the puck is going.

Fri., Feb. 7 9 – 10 am Board of Trade Office 34 Harvey Rd., 3rd Floor

Date: Time: Cost: Location:

Mon., Feb. 10 12:30 pm – networking 1 pm - luncheon $42.50+HST member rate $85+HST non member Sheraton Hotel Newfoundland

Chair’s Inaugural Reception We are pleased to invite the entire membership to help us celebrate the inauguration of Sharon Horan as the incoming chair of the St. John’s Board of Trade. It is also a chance for us to say thank you to all of our volunteers and members who have participated and helped us throughout the year. Date: Time: Cost: Location:

Thurs., Feb. 13 4:30 – 6:30 pm Included as a benefit of your membership Sheraton Hotel Newfoundland

Sponsored by: Sheraton Hotel and Eastern Audio

13 Business Mixer Join Brian Head and Associates and the Railway Costal Museum as they host a Board of Trade Business Mixer. It will be a lively evening full of networking, great food and entertainment. We look forward to seeing you there Date: Time: Cost: Location:

Thurs., Feb. 27 4:30 – 6:30 pm Included as a benefit of your membership Railway Costal Museum

To register for these events please contact Wanda Palmer at events@bot.nf.ca or 726-2961 ext. 9 28

Business News february 2014

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