* Be a full-time undergraduate and/or graduate student at a Canadian University or college (for the 2006-2007 academic year)
* Be the founder and primary owner (51%) of the company and principally responsible for its operation
* Have been in business for at least the past six months
* Have not won this award in the past

Award timeline
Tuesday September 5th, 2006: Nominations/self nomination opened
Friday November 24th, 2006: Nominations/self nominations close
Friday December 8th, 2006: Applications due

“Africa is an emerging story that Asia may not want to ignore for too long, says the World Bank's Chief Economist for Africa. While it has hardly turned the corner, the continent has had some success in exports and investments in the past 10 years, notably with Asia, and, like Asia, has its share of 'leaders and laggards', John Page told reporters in Singapore Thursday. …

But the past 10 years mark an important economic turning point for Africa - which Page repeatedly quipped 'is not a country' - and 'this time, there is the genuine prospect that the continent can lift itself out of poverty'. For the first time since the mid-1970s, more than half of Africa's population live in countries that are growing at more than 5 percent a year, he noted. It may not be spectacular by Asia's standards, but it amounts to 'decent' income growth, he said. Also, African governments have become increasingly aware that they need to integrate more effectively with the world economy by becoming better trading partners and moving into new and non-traditional areas of exports.

Hence the success of World Trade Organization (WTO) talks is critical to Africa's economic future. 'For them, this is an opportunity to be grasped, a way of continuing what looks to be a positive trend,' Page said. 'And, of course, emerging Asia, especially China and India, are important not only as destinations for exports but as potential investors. We are beginning to see in a number of the better performing African countries new investments by Indian and Chinese investors in more diversified activities than simply petroleum extraction or natural resource extraction.' …

‘…We will begin to see in Africa the same kind of things that we've seen in Asia - some leaders, some laggards - and it will be a combination of politics, economics and society. 'But it will no longer be just some dismal continent off there somewhere that people can choose to ignore because it's not significant. Some countries in Africa will become significant, and as they do, they will become increasingly important to people in this part of the world.'

Asia has much to offer Africa that its traditional partners do not, Page added. 'It has a development experience that's quite different and distinct from that in Europe and North America, it has an attitude towards economic development which is very different.' In other words, apart from aid or investments, ideas and lessons drawn from some of Asia's success stories could help individual African countries transform themselves.” [Business Times Singapore/Factiva]

New Awards Programs Will Promote Innovation, Research And Entrepreneurship In Ontario

TORONTO - Nominations are now open for two new Ontario government award programs that will recognize and financially reward the province's next generation of research and innovation talent.

"These world-class awards programs will help us attract and retain the best and brightest minds so that Ontario continues to compete and win in the global economy," said Premier and Minister of Research and Innovation Dalton McGuinty. "We're on the side of innovative Ontario businesses and researchers who help Ontario prosper, and are building a bright future for our next generation." The awards programs, which have an annual value of $2.5 million, are:

<< - Premier's Catalyst Awards - consisting of five annual awards of $200,000 each to Ontario's most innovative entrepreneurs and companies, to help them move their ideas and breakthrough technologies to national and international marketplaces.

- Premier's Discovery Awards - Four annual awards totalling $1.5 million to researchers in recognition of their discoveries and achievement in life sciences and medicine, natural sciences and engineering, social sciences and humanities, and innovation leadership. This award funding will be used for research-related expenses. >>

The deadline for nominations for both awards is Thursday, November 30, 2006. More information is available at www.ontario.ca/innovation. This initiative is part of the $1.7 billion the ministry is investing over five years to strengthen and promote Ontario as an innovative economy through research, commercialization and outreach programs. The multi-year investment includes $12.5 million total for the Premier's Catalyst and Discovery awards.

Volunteer Recruiting & Student Registration Begins for October Launch

WATERLOO REGION, ON… The search for volunteers and students is now underway, with Junior Achievement looking for up to 50 volunteers to help with its heralded Company Program reaching a potential pre-registered 200 students.

The Company Program is an after-school (evening) venture designed to give high school students the opportunity to set up and run a business for themselves. Guided by a team of volunteer advisers, young entrepreneurs gain practical, hands-on experience in operating a business - raising capital, electing officers, producing and marketing a product or service, and then going on to liquidate their business at the end of a 20-week cycle.

“Teenagers get a chance to do something they might not do in real life until maybe decades later… if ever!” says Tracy Van Kalsbeek, Program Manager for Junior Achievement of the Waterloo Region Inc. “The learning experience is invaluable – not just the business aspect of it, but also the chance to think on a different level, to work together, and to interact with volunteers who have gone through many of these issues in their own lives.”

JA plans to help 10 groups of students each launch their own companies this year, with the program kicking off in early October and running through early May. Four or five volunteer advisers are assigned to each group of twenty-five students. Volunteers guide students through the decision-making processes they encounter while running their company. Ideally, the volunteers share their own expertise and experience, while delivering the program material provided by Junior Achievement.

The volunteers’ and student participants’ commitment is twenty weekly sessions, typically between two and two and one-half hours each. The program wraps up on May 3, 2007 with a gala “Futures Unlimited Banquet” at the Knights of Columbus Hall on Manitou Drive. Participants, volunteers and sponsors are all invited to attend, and to share their stories and experiences with each other.

“This is a terrific opportunity for business people of this region to “give back to the future”, says Van Kalsbeek. “Not only do our volunteers have the opportunity to interact with the youth of the next generation; they also come away with a greater sense of community and social responsibility. You’ll walk away from the Company Program knowing you’ve helped foster a positive relationship between youth and business, and that you have contributed to the enrichment of our community.”

To register as a student participant, or to volunteer for Junior Achievement’s evening Company Program and any of the in-school programs, please contact Tracy Van Kalsbeek, Program Manager at (519) 576-6610 or register on line at www.jawaterlooregion.org.

Junior Achievement of the Waterloo Region Inc. has been offering community-based programs in the area since 1970. As a non-profit organization, JA is dedicated to providing business education to youth. Nine programs encourage young people, from grades 3 to 12, to achieve their highest potential and success as citizens of our community and participants in the global economy. The Junior Achievement experience helps young people understand the nuances of business, finance, banking, entrepreneurship, leadership and provides workforce readiness skills.

For more information about Junior Achievement and all of our nine programs, delivered to students in Grades 3 to 12, visit www.jawaterlooregion.org, or contact Tracy Van Kalsbeek, Program Manager, Junior Achievement of the Waterloo Region Inc., (519) 576-6610, tracy@jawaterlooregion.org

School chosen as a case study for its social entrepreneurship, integrity and market leadership

The Richard Ivey School of Business at the University of Western Ontario has chosen the Stratford Chefs School as a case study for its undergraduate and MBA programs. The case was first discussed in spring 2006, and met with great enthusiasm from students. It will continue to be used as a case study in upcoming years, says Ivey professor Ken Hardy.

Professor Hardy cites “social entrepreneurship” as one of the main reasons for including the Stratford Chefs School in Ivey’s roster of case studies in Entrepreneurial Marketing. He calls the school an ideal example of this new genre of entrepreneurship. “The main motives of this not-for-profit school are to give students the opportunity to develop culinary skills, get satisfying jobs, and even learn how to be entrepreneurs in haute cuisine.” He points out that graduates of the prestigious Stratford Chefs School find jobs immediately, and can be found in almost every highly regarded cooking establishment in Canada. “My students identify with this enterprise,” says Hardy.

Peter Schwartz, a merchant banker on the Stratford Chefs School Board of Directors and an Ivey graduate, says that the emerging importance of business ethics was top of mind when he encouraged Professor Hardy to take on the School as a case study. “The Stratford Chefs School has a tremendous commitment to good governance, to managing the resources of donors and government with the highest levels of integrity and fairness.”

And, Schwartz points out, because there is a growing awareness of the importance of food to human health and wellbeing—Schwartz calls it a “macro social trend”—those who work with food are becoming increasingly influential. “The students at the Stratford Chefs School are among the new statesmen of this country: they are truly going to have an impact.” It makes sense, according to Schwartz, to bring the Stratford Chefs School to the attention of students at Canada’s premier business school. After one term of study, in which the School case study and the appearance of the co-founders were among the most popular, it appears that Ivey’s business students agree.

Eleanor Kane, co-founder and director of the Stratford Chefs School, participated in the case discussion, and she is encouraged by the connections being forged between the two schools. “Entering this dialogue with Ivey faculty and students is a great opportunity for us to examine emerging trends in the food industry and ensure that our students are fully equipped to capitalize. Ivey’s consultation will be invaluable to us.”

Established as a private, non-profit educational institution in 1983, the Stratford Chefs School is the only culinary institute in Canada operated by working restaurant professionals. Its curriculum remains in step with the changing market, developments in the restaurant business and emerging innovations in cuisine.

OTTAWA - Sustainable Development Technology Canada (SDTC), a Government of Canada initiative that finances and supports the development and demonstration of clean technologies, today announced it is requesting applications for its tenth round of funding. The closing date for submissions is October 11, 2006.

SDTC encourages the submission of technology solutions designed to improve sustainability for all Canadian economic sectors. SDTC is actively seeking applications for technologies that provide clean water and clean soil solutions, and continues to look for technology solutions related to clean air and climate change. Of greatest interest are those solutions that integrate benefits which address more than one focus area.

"With an increasingly competitive global clean-tech market, technologies that effectively demonstrate their ability to solve specific business and environmental concerns often stand the greatest chance of success," said Vicky J. Sharpe, President and CEO of SDTC. "Nonetheless, broad-spectrum solutions will also be considered as these too are of great interest to Canadians and the Canadian business community."

SDTC also recently released the first in a series of reports - Renewable Electricity Generation 'SD Business Case'(TM) - which identifies specific investment priority areas, including biofuels, wind, solar power, and stationary fuel cells. As such, SDTC is also actively seeking applications for solutions focusing in these areas.

To read the report go to www.sdtc.ca/en/knowledge/business_case.htm.

SDTC continues to welcome a broad range of technological applications from a wide array of economic sectors. To date, SDTC has allocated $217 million to 97 clean technology projects. An additional $560 million has been leveraged from project consortia members, for a total portfolio value of $777 million.

In the nine preceding calls for Statements of Interest (SOI) since April 2002, SDTC has received 1170 submissions from more than 2,900 companies and organizations, representing $9.7 billion of clean technology project potential.

The initial application submission is designed to provide SDTC with a sense of the proposed technologies for preliminary screening. These applications are subject to a competitive process evaluated by SDTC and a panel of independent experts to ensure adherence to selection criteria that include capabilities in technology, marketing and business (partnerships and funding). Selected applicants will be invited to submit a detailed, full proposal at a later date for consideration toward funding.

For further information about SDTC's funding process and application request, please visit www.sdtc.ca. Applicants may also go directly to the online SOI application system, at

http://www.sdtc.ca/en/funding/advice/soi_application.htm.

SDTC holds two rounds of funding each year, beginning with SOIs in January and August. The next call for SOIs will be on January 24, 2007.

UPS study reveals growing opportunities for Canadian businesses in world's largest emerging consumer market

MISSISSAUGA - UPS's second annual survey of China's growing class of urban consumers highlights a rapidly expanding market and an increased demand for American/western products. Providing insight into the Chinese consumer's mind, the survey highlights important information for Canadian companies that have yet to capitalize on the world's fastest growing consumer market.

The 2006 study found that more than half of urban Chinese consumers surveyed use credit or debit cards for shopping, and 84 per cent of those with credit cards expect their usage to increase or remain the same in the coming year. This is especially true in larger cities such as Beijing where 47 per cent of urban Chinese consumers are increasing their credit card use. The survey also reveals a preference for western-style packaging, especially for beauty products with 45 per cent of young high-income Chinese consumers saying they prefer western packaging.

"With 40 per cent of urban Chinese internet users having tried online shopping, Canada is witnessing the emergence of immense business opportunity," says Glenn Rice, President of UPS Canada. "There is a fast growing middle class for Canadian exports. At a time when Canada continues to source Asia for manufacturing, targeting this area for consumer purchasing can secure our position on the international business scene."

According to recent statistics from Canada's Department of Foreign Affairs, the trade imbalance between Canada and China is more than four to one in China's favour. In May 2006, for example, Canada imported CDN$2.67 billion worth of goods from China. At the same time Canada exported CDN$559 million to China.

"China's appetite for western-made consumer goods is emerging at a time when technology and supply chain infrastructure allow Canadian businesses to operate anywhere in the world. As online shopping trends increase, so will the opportunities for those that are ready to meet the consumer demand. The time for businesses to develop an export to China strategy is now," says Rice.

UPS offers a range of services to help businesses deliver to China. Last year, the company became the first carrier in the industry to acquire direct control of its operations in China. This year, the company expanded its international express service to 22 more business locations in China, bringing total number of cities served in the country to 330. Those cities account for roughly 85 per cent of China's international trade. Most recently, UPS opened two retail centres in Shanghai, providing customers with greater shipping convenience.

WATERLOO REGION - ARISE Technologies Corporation (TSX-V: APV) is pleased to announce that Bruce West has been appointed Chief Financial Officer and Executive Vice-President of Business Processes of ARISE. Mr. West brings to this role 25 years of business experience in a range of financial, operating and senior executive roles. He is a chartered accountant and recently completed a full-time MBA.

Ian MacLellan, Vice-Chairman and CEO of ARISE, stated that "Bruce has made a major contribution to ARISE over the last year and I am excited that he is taking on this more formal role. His financial, operating and strategic expertise will be required as we execute on our business plan." Mr. West will also assume the duties of Corporate Secretary of the Company.

Pomerantz brings to NRC over 35 years of executive-level operational
experience in the real estate industry. He founded Dalworth Tool & Supply in
1974, gaining extensive experience working with manufacturers and
distributors in aerospace, oil, and automotive industries. He sold the
company in 1998 and moved to Barcelona, where he founded Mechanical Concepts
Iberia (MCI), an IT and direct marketing consulting firm. Two years later,
he sold MCI, returning to North America to serve as COO for
emachinetool.com, where he focused on fundraising, branding, marketing, and
business development.

Most recently, he co-founded Chrysalis Special Projects, a Canadian
consulting group, where he directed corporate turnaround efforts, complex
multi-party negotiations, and corporate restructuring initiatives.

Pomerantz did his post-graduate work at Southern Methodist University and
earned Spanish fluency accreditation from Barcelona¹s Esade University. He
lives in Vancouver, British Columbia, where he has worked closely with
Native American Peoples in their efforts to commercialize various business
opportunities.

WATERLOO REGION, ON, - ARISE Technologies Corporation is pleased to announce that it has secured a $284,748 cash contribution from the Ontario Centres of Excellence (OCE) Inc. Emerging Materials Knowledge (EMK) Network for its photovoltaic (PV) research program being carried out in collaboration with the University of Toronto (U of T) and Komag, Inc. This contribution is a result of transferring the final year of the PV research program to the EMK Consortium from OCE's Centre for Materials and Manufacturing.

On April 25, 2006 ARISE submitted its final payment under a Research Collaboration Agreement with OCE and U of T which fulfilled the Company's $750,000 investment in the PV research program. EMK will match the $284,748 of cash that ARISE has contributed to the PV research program in 2006.

ARISE, in collaboration with the U of T and Komag, Inc, is developing a thin film deposition methodology which will be used to produce high efficiency heterojunction silicon PV cells. The PV cells will be produced using the patented DC Saddle-Field thin film technology that permits the production of high quality films on large areas allowing the production of thin-film on silicon wafer heterojunction PV cells. The Company intends to supply high efficiency solar cells to the global solar electricity market that has grown from US$5.0 billion in 2003 to an estimated US$11.1 billion in 2005.

Ian MacLellan, Vice-Chairman & CEO of ARISE stated, "We are extremely pleased with the support from OCE through the EMK network, which will help us develop and demonstrate our new approach to producing high efficiency PV cells. This funding marks a significant advancement for ARISE and it shows tremendous third party validation of our approach."

Brought to you by The Institute of Chartered Accountants of Ontario.

Selling Your Business

Planning to sell your business? Start soon and you can simplify the selling process, negotiate a fair price, and leave your business in good hands. “Selling your business is like getting your house ready to sell,” says Chartered Accountant Robert Sproule, Founding Partner, R.I.Sproule and Associates Ltd., in Ottawa. “Just as you tidy your house to make sure it shows well, you should also get your business ready to sell by ensuring that the your financial statements are tidy, accessible and straightforward.

Then a purchaser can see the true worth of your company.” Chartered Accountant Jack Hertzberg, Partner with Harris & Partners, LLP in Markham adds that a key part of this activity is normalizing your cash flow. “Assess all your expenses to make sure they conform to industry standards and market realities. This may involve highlighting expenses for the purchaser that may not appear in the financial statements of similar businesses, such as bonuses paid to the owner above market, as well as excessive vehicle, promotion and entertainment expenses.”

What else should you consider?

“Once you’ve decided to sell, you should start your planning early, as much as a year or two ahead,” Sproule advises. “This gives you time to do more housekeeping, such as making sure your accounting system is efficient. You may also want to cull your client list, and perhaps add a couple of new clients. “You can also check the market and identify a potential purchaser, who may be one of your competitors or perhaps a business that is interested in expanding to your location.

Remember that if you use a business broker or consultant to find a purchaser, you will pay a fee for this service,” explains Sproule. “Planning also allows you to let key employees know your plans and perhaps offer them an incentive to stay for a certain period after the sale closes. You also have time to deal with something that is common to many owner managers – a reluctance to let go. A business has asset value and the self-esteem value of the owner, who has built it from scratch, may not see its true worth.”

How do you determine the selling price?

“The selling price is usually based on a certain framework that varies with each industry,” describes Sproule. “Value is generally based on the percentage of business that the purchaser can retain. The vendor wants the highest possible value for goodwill, paid on closing, while the seller strives for the lowest possible percentage, paid over time. After that, it’s all negotiation.” Hertzberg offers more tips for would-be sellers.

“Tax-planning is a key consideration. This lets you know in advance how much of the proceeds from the sale will be available net of taxes. A Chartered Accountant will help you determine the best tax strategy for structuring the sale and brings objectivity to the process when emotions run high. “If you have a franchise, make sure you understand your rights when it comes to selling the business. For other businesses such as restaurants or day care centres, find out if there are any regulatory provisions for transferring and getting clearances from the relevant government departments.”

“In today’s sophisticated environment, you should exercise caution in giving out too much information about your business, to protect it in case this information falls into the hands of your competition. You may also want a non-disclosure and confidentiality agreement in place before releasing confidential information,” cautions Hertzberg. “Once your business is sold, you may be required to stay on during a transition period. This allows you to introduce the new owner to your clients and key customers. This is especially important in a service business, where loyalties to a particular individual are critical and the selling price is based on clients and retention.”

Is there a good time to sell your business? “Yes,” says Hertzberg. “Timing is everything. Some businesses have a seasonal cycle. It’s also smart to time the sale either before or after major renovations. If your business is location dependent, sell it once you have a new lease or franchise term.” Both Sproule and Hertzberg agree – there is no foolproof way to sell your business. The reality check is what the market will pay, so plan ahead to maximize the value of your business.

Brought to you by The Institute of Chartered Accountants of Ontario.

OTTAWA, ONTARIO - The Competition Bureau announced on July 27 stated that it has reached a settlement with one of Canada's largest retailers of men's apparel, Grafton-Fraser Inc., resolving the Bureau's concerns over the company's pricing practices. Grafton-Fraser operates over 180 corporate stores under the banners of George Richards Big & Tall, Grafton & Co. (Stonehouse), Mr. Big & Tall, The Suit Exchange, Timberland and Tip Top Tailors. The settlement comes in the form of a Consent Agreement which was registered today with the Competition Tribunal.

In addition to the company, Mr. Glenn Stonehouse, President, Chief Executive Officer and majority shareholder, is a party to the Agreement and subject to its terms and conditions. Among other things, the Agreement calls for the payment of an administrative monetary penalty and costs totalling $1.2 million.

The registration of the Agreement concludes the Bureau's investigation into allegations that Grafton-Fraser had significantly inflated the regular price of certain garments sold in its stores resulting in an overstatement of the savings to consumers when these garments were on sale. The Bureau found that Grafton-Fraser tagged these garments with both a regular and a sale price when, in fact, the garments were not sold in any significant quantity or for any reasonable period of time at the regular price.

"The importance of truth in advertising cannot be overstated," said Raymond Pierce, Deputy Commissioner. "Advertisers have both a moral and legal obligation to ensure that they provide consumers with accurate information upon which to make their purchasing decisions."

The 10-year Consent Agreement, which is designed to remedy the competitive and consumer impact of the practices, requires Grafton-Fraser to:

- pay an administrative monetary penalty in the amount of $1,000,000;

- pay a portion of the costs of the Bureau's inquiry in the amount of

$200,000;

- when making reference to regular prices on any in-store signs and

advertisements, ensure that all current and future regular price

representations comply with the Ordinary Selling Price provisions

of the Competition Act;

- implement a comprehensive Corporate Compliance Program designed to

ensure conformity with the false or misleading representations and

deceptive marketing practices provisions of the Competition Act;

and

- display a corrective notice prominently in its retail stores across

Canada, on any of the company's Web sites, and in designated

newspapers across Canada.

The Ordinary Selling Price provisions of the Competition Act are designed to ensure that when products are promoted at sale prices, consumers are not misled as to the amount they are saving by reference to inflated regular prices.

- Deloitte's Global Venture Capitalist 'VC' Survey shows Canadian VCs are not lured by emerging markets; Continue to focus on close-to-home investments

TORONTO - Canadian VCs continue to stick close to home, with more than half (58%) of Canadian respondents to Deloitte's 2006 Global Venture Capital Survey citing they have no plans to expand investments outside the country over the next five years, compared to 47% of U.S.-based VCs and 44% of investors overall globally. 'Adequate deal flow in existing markets' was cited by Canadian VCs as the primary reason for not pursuing global investments (33%), followed by 'contractual' and 'legal restrictions' (22% each). The Canadian component of the global survey conducted jointly by Deloitte and the CVCA - Canada's Venture Capital & Private Equity Association, measured attitudes, intentions and investment focus of more than 500 venture capitalists worldwide.

"Canadian VCs appear to take a more focused approach to investment compared to their global peers. The combination of a Canadian focus and the strong rally of the local economy over the past few years has fuelled the VCs' domestic focus, Canadian VCs and private equity groups have chosen to focus on North America and have not developed their expertise in emerging markets," says Mike Badham, partner, Deloitte. "As the VC industry around the world continues to move towards global investing networks, Canadian VCs should start re-evaluating their strategies to capitalize on international opportunities. As Canadian technology and manufacturing companies become more global, they will look to their VC and private equity sponsor to become more global as well."

On the other end of the spectrum, of those Canadian VCs who do plan to expand investments beyond the border, the U.S. (27%) followed by China (23%) and the U.K. (20%), were cited as the top three investment destinations. 'Higher quality of deal flow' and 'access to quality entrepreneurs' were quoted by two-thirds (67% each) of respondents as the primary reasons for investing in the United States. For Canadian VCs pursuing investments in China, 'emergence of entrepreneurial environment in non-traditional locations' (100%), 'access to foreign markets' (50%) and 'higher quality of deal flow' (33%) were cited as the key investment drivers.

"The U.S. is considered a lucrative investment market for Canadian VCs, not only because of its close trade relationship and geographic proximity, but also because of its global leadership in key technology sectors," says Rick Nathan, President of the CVCA - Canada's Venture Capital & Private Equity Association and Partner at Kensington Capital Partners.

Currently, nearly half (48%) of Canadian respondents invest in Canadian companies with key operations outside the country. In particular, the U.S. houses key operations of their portfolio companies including R&D (53%), engineering (44%) and manufacturing (42%) operations. Following the U.S., are India (18% R&D, 25% manufacturing) and China (22% engineering).

"It is worth noting that just under half of Canadian funds invest in companies with a substantial international presence," Nathan continues. "This is quite impressive considering the restrictions on foreign investments that affect a significant percentage of our industry -- the Labour Sponsored Investment Funds -- and the smaller size of our funds relative to others."

The flow of current and future VC dollars

According to survey findings, VCs in Canada and worldwide are continuing to focus on technology sectors including software and communications & networking as their primary target industries. Two-thirds (65%) of Canadian VCs (60% globally) confirmed having current investments in the software sector, followed by 42% of Canadian respondents who have invested in communications & networking as well as in energy/environment clean technology sectors. The strong presence of tech companies in VCs' portfolios provides a further indication of the industry's rebound from the days of the dot.com bubble burst.

Looking toward VCs' future investment focus, energy/environment clean technologies along with healthcare services and consumer business were identified as the industry sectors most likely to enjoy an increase in Canadian VCs' investments over the next five years (6% each).

"Moving forward, Deloitte's survey findings indicate investment attention will likely move into three main industry sectors over the next few years. First, within clean technology sectors, which is a positive sign that Canada is closing the gap with its U.S. and European peers in advancing more environmentally friendly alternative energy technologies such as wind, tide and solar power. Second, more investment in healthcare services as we continue to see the implications of an aging population. Third, and of most encouragement, a flurry of future investments in the consumer business markets which indicate investors' continued optimism for Canada's flourishing economy in fuelling consumers disposable cash and buying power for goods and services," adds Badham.

Investment and Impediments - home and abroad

'Unfavourable tax environment' and 'restrictive environment' for early-stage companies to be successful were the top two impediments to local investments in Canada, according to two-thirds of Canadian VCs who participated in the survey (68% and 63% respectively).

"One of the main impediments, referring to a 'challenging business environment for start-up companies to be successful', is mainly driven by more restrictive access to bigger markets such as Europe, Asia and the U.S. To eliminate this barrier, trade organizations and governments should continue promoting Canadian products overseas and help local company's access global markets." adds Badham.

"Canadian companies with interests in the U.S. continue to face a number of technical barriers that impede growth and investment, and ultimately, the success of Canadian entrepreneurs and investors," adds Nathan. "In addition, the U.S. is generally perceived as a more favourable corporate tax environment for many Canadian companies although certain kinds of Canadian companies can take advantage of tax credits and other incentives not available in the U.S."

The main obstructions identified by Canadian VCs for investing in the U.S. include 'litigation environment that creates additional financial risk' (60%), 'high cost of employees' (31%) and 'cost of complying with corporate governance' (29%).

From a global perspective, Canada is attracting increasing numbers of U.S. and other foreign venture capitalists who have recently entered the market. In 2005, according to the CVCA, international and local VCs invested $1.844 billion in approximately 800 companies across Canada. In particular, Deloitte's study illustrates that Canada continues to appeal to VCs from the U.S., with 8% of U.S. respondents indicating an interest in increasing their investment focus here.

"The survey findings show that Canada is not only viewed as an investment hotspot with abundant opportunity from domestic VCs, but it is also on the radar for investors around the globe," says John Ruffolo, National Leader, Technology, Media & Telecommunications, Deloitte. "These findings are very encouraging for the Canadian market and indicate that investors around the globe are enthused by Canada's economic prospects by continuing to fund emerging companies."

Deloitte's study also reveals that global VCs consider 'travel time and effort' along with 'lack of knowledge/expertise of business environment' as the main investment barriers Canada presents to foreign investors.

About the survey

The 2006 Global Venture Capital Survey was conducted jointly in Canada by Deloitte & Touche LLP and the CVCA. The global survey was administered to venture capitalists in the Americas, Europe and the Middle East (EMEA) and Asia Pacific (APAC). Deloitte received 505 responses from general partners with assets under management ranging from less than US$100 million to greater than US$1 billion. The survey was conducted between April and May 2006. Of the total number of respondents, 278 were based in the Americas (31 in Canada), 141 in EMEA and 86 in APAC.

Business students develop growth plan for Want Beverage’s energy drinks as part of integrated case

WATERLOO – The boost provided by Want Beverages’ action sports energy drinks may be just what Wilfrid Laurier University business students need to fuel their fast-paced journey through this year’s Laurier school of business and economics’ (SBE) integrated case exercise (ICE), as they work to develop a growth plan for the small energy drink company.

The bachelor of business administration (BBA) students received the case details this morning, and by Tuesday of next week they must develop a written plan for Want Beverage’s financing, staffing, manufacturing, distribution and promotions. “Students are facing real-world time constraints and applying the knowledge gained through their business courses to develop real-world solutions,” explains Ruth Cruikshank, director, undergraduate business programs. “The program provides a significant educational opportunity that gives students the chance to step into a company, determine how they would make it succeed if it were their own, and ultimately add value.”

“This year’s case study is particularly interesting,” adds David Rose, the SBE lecturer who co-authored the case with SBE professor Hugh Munro. “The beverage industry is an appealing industry that’s relevant to students, and this case is challenging in that it requires a truly integrated approach. To be successful, students will have to incorporate marketing, finance, organizational theory and operations.”

Burlington-based Want Beverages, makers of berry, lemonade and lemonade lite energy drinks, is asking the students – who are also part of their 14- 24-year-old target market – to help the small, year-old company win in the industry despite limited resources.

Bill and Angela Moffat, Want Beverages’ founders, have invested personally and financially in the company, as well as in the action sports community. They deliver and promote their products themselves, and donate 15 cents of every bottle sold to local action sports such as skate parks, snowboard hills and bike trails.

The Moffats started Want Beverages in June 2005, after exposure to the action sports industry through a retail clothing business made them aware of the potential of an energy-drink product geared toward action sports enthusiasts.

“The average teenager only buys two or three shirts a year,” explains Bill Moffat. “But the same person buys 24 beverages per month. If we can become the beverage company that the young action sports crowd can call their own, then we have an opportunity to build a very large market.”

The program’s tight timelines make completing ICE an action sport in itself. The 345 students, who have been organized into 80 teams, must submit their written plans on Tuesday July 18, and present their ideas to an internal SBE faculty board on Thursday July 20. Sixteen semi-finalist teams are then selected, who present to a different internal board on Friday morning. The four finalist teams selected then present to an external board, including the Moffats, on Friday afternoon, and the winning team is announced on Friday evening.

With more than 3,000 students enrolled in its programs and more than 100 full-time and 65 part-time faculty members, the Laurier SBE is one of Canada’s largest and most innovative business schools, with campuses in Waterloo and Toronto. Visit http://www.wlu.ca/sbe for further information.

OTTAWA - Confidence levels among Canadian exporters continue to decline amid growing evidence of a global economic moderation, a marked retreat from the boom years between 2002 and 2004 according to the semi-annual Trade Confidence Index (TCI) survey from Export Development Canada (EDC).

"As the economy decelerates from the best global conditions in 10 years, Canadian exporters are very clearly anticipating a much tougher time over the next 6 months," said Peter Hall, Vice-President and Deputy Chief Economist. "Exporters usually thrive when global economic performance is this solid, but Canada's strong dollar has created a significant challenge for exporters. Unlike previous episodes of dollar strength, exporters are standing up to the storm with aggressive counter-measures."

The TCI is a composite score based upon responses from Canadian exporters to five questions on future global and domestic sales, economic conditions and trade opportunities for the next six months. The EDC Spring 2006 Trade Confidence Index declined to 70.6 out of a possible 100 points, down from 71.7 in the fall of 2005 and 73.7 in the spring of 2005.

All five of the survey's components have seen the neutral responses shrink, although the survey captured a distinct rise in pessimism in the three components that dealt with exporting markets. The positive responses were related to the domestic outlook, both in terms of market and economy.

"What we're seeing is a strong rise in positive responses on the domestic outlook and negative responses in the exporting outlook, which has effectively shrunk the more stable neutral or middle ground," continued Mr. Hall. "This looks like a classic case of an economy where the prosperity of certain sectors has created secondary effects that are weighing heavily upon other sectors."

Among the notable findings, two-thirds of respondents stated that the value of the dollar is critical to their success in foreign markets, and the same proportion felt that the loonie would continue rising. Respondents repeatedly noted the impact of the Canadian dollar, but also provided insight into their strategic operational responses, such as cost cutting, altering business models and increasing prices. Elsewhere, those exporters believing that Asia is among the top riskiest markets decreased to 31 per cent from 41 per cent in the same period.

Overall, confidence about the economy was down across all business sectors. Among those sectors experiencing the least amount of decline in confidence were Energy, Information Technology and Mining, currently buoyed by high commodity prices and a recovering tech sector. Sectors experiencing the greatest decline in confidence were Consumer Goods, Agriculture and Foods, Forestry and Base and Semi Manufacturing, impacted by the high Canadian dollar, a drop in US housing starts and strong offshore competition. Across Canada, only Western Canada maintained its confidence level, reflecting a heavier concentration of exporters in the booming energy sector. Exporters in Ontario, Quebec and the Maritimes continued their decline in confidence owing to their dependence on the manufacturing, forestry and agri-foods sectors.

Opinion Search Inc. conducted the survey in late May and early June of 2006. A total of 1,000 Canadian businesses participated, and the TCI was calculated on a total of 861 respondents. The survey results are considered accurate to +/- 3.4 per cent, 19 times out of 20.

For more information about EDC and the Trade Confidence Index, visit www.edc.ca/english/docs/ereports/tradeconfidence/country_information_index_e.h tm

New Book Reveals How Big Business Uses Government Regulation to Steal Your Money

Washington, D.C. — When big business gets its way in Washington, the result is higher taxes, stricter regulation, and bigger government all around, all of which harm consumers, entrepreneurs, and taxpayers. Competitive Enterprise Institute Journalism Fellow Tim Carney reveals the quiet partnership of big business and big government—and its costs to the average American—in THE BIG RIPOFF: How Big Business and Big Government Steal Your Money.

Carney’s in-depth research, exclusive interviews, and shoe-leather reporting unearth a startling pattern that upends the conventional wisdom. Government regulation doesn’t rein in big businesses; it protects them while hurting the little guys. Higher taxes don’t soak the rich; they often merely transfer wealth from Mom & Pop to the largest corporations. It’s not just for good press that some big businesses are sounding a lot “greener” these days; the old-fashioned profit motive combined with some targeted lobbying is really behind the push for “corporate social responsibility.”

THE BIG RIPOFF presents a series of stories—simultaneously entertaining and infuriating—and weaves them together into a pattern. Driven by compelling narrative and punctuated by concise insights into today’s political and economic landscape, THE BIG RIPOFF opens up a new world to all readers.

Tim Carney is the Warren T. Brookes Journalism Fellow at the Competitive Enterprise Institute and a freelance investigative reporter in Washington, D.C. He has written for the Wall Street Journal, New York Sun, Wall Street Journal Europe, American Spectator, D.C. Examiner, and many other magazines, newspapers, and websites. He was formerly a reporter for veteran columnist Robert Novak and a reporter at Human Events. He has appeared as a commentator on CNN and other television outlets, and as a guest on dozens of radio stations. His website is www.TimothyPCarney.com.

The 13th annual Ernst & Young Entrepreneur Of The Year(R) awards names finalists

TORONTO - Forty-nine top entrepreneurs who have demonstrated leadership, drive and innovation have been chosen from an impressive list of nominees as Ontario finalists in the Ernst & Young Entrepreneur Of The Year 2006 awards.

"The vision of Ontario's entrepreneurs drives our provincial economy and in so doing strengthens Canada's place in the global market," says Joe Telebar, national and Ontario director of the Ernst & Young Entrepreneur Of The Year awards program. "The individuals who exemplify a commitment to excellence in growing their businesses and cultivating their success deserve to be celebrated. Their leadership shapes the social and economic landscape of Ontario, and we're thrilled to encourage their continued success," he says.

Canada's most prestigious business awards program is now in its 13th year. The program considers nominees in a number of business categories before selecting finalists. Those finalists for Entrepreneur Of The Year 2006, Ontario region are:

BUSINESS-TO-BUSINESS PRODUCTS AND SERVICES

<< Ron Tepper
Consolidated Fastfrate Inc. (Integrated transportation provider)
Woodbridge, ON
www.fastfrate.com

Raymond Stone
Futuremed Healthcare Income Fund (Nursing supplies, specialized
furniture, and equipment distributor)
Concord, ON
www.futuremed.ca

Shawn Murray
Murray Demolition LP (Decommissioning, demolition and abatement services)
Toronto, ON
www.murraydemolition.com

Rolly Uloth
The Rosedale Group (Transportation, warehousing and distribution of flooring materials)
Mississauga, ON
www.rosedale.ca

BUSINESS-TO-CONSUMER PRODUCTS AND SERVICES

Glenn Brown, Ken Valvur
Bento Nouveau (Take-out sushi)
Toronto, ON
www.bentonouveau.com

Dufflet Rosenberg
Dufflet Pastries (Bakery and retail cafes)
Toronto, ON
www.dufflet.com

David Patchell-Evans
GoodLife Fitness Clubs (Health and fitness clubs)
London, ON
www.goodlifefitness.com

Teresa Cascioli
Lakeport Brewing Income Fund (Beer manufacturer)
Hamilton, ON
www.lakeportbrewing.ca

EMERGING ENTREPRENEUR

Steve Mai
Eclipse Automation Inc. (Mechanical and electrical control designer and manufacturer of turnkey automation systems)
Cambridge, ON
www.eclipseautomation.com

Frank Cianciulli
Enunciate Conferencing (Audio, video, and web conferencing solutions supplier)
Toronto, ON
www.enunciate.com

Clara Angotti
M Systems Group Inc. (Systems integrator specializing in financial services)
Toronto, ON
www.msystemsgroup.com

HEALTH SCIENCES

Connie Clerici
Closing the Gap Healthcare Group (Therapy, nursing, personal support and corporate wellness services)
Mississauga, ON
www.closingthegap.ca

Neena Kanwar, Vijay Kanwar
KMH Cardiology & Diagnostic Centres (Diagnostic and treatment services)
Mississauga, ON
www.kmhlabs.com

Arun Menawat
Novadaq Technologies Inc. (Develops and markets medical devices)
Mississauga ON
www.novadaq.com

HOSPITALITY/TOURISM

Bruce Poon Tip
G.A.P. Adventures (Adventure travel company)
Toronto, ON
www.gap.com

Lou Biffis
Nottawasaga Resort/Briar Hill Developments (Hospitality/recreation centre and community services)
Alliston, ON
www.nottawasagaresort.com

Cam Heaps, Greg Taylor
Steam Whistle Brewing (Independent brewery)
Toronto, ON
www.steamwhistle.ca

INFORMATION TECHNOLOGY

Andrew Day
Atlantis Systems International (Supplier of simulation-based training systems and management products)
Brampton, ON
www.atlantissi.com

Russ Freen
Bridgewater Systems (Develops subscriber-centric policy management software)
Ottawa, ON
www.bridgewatersystems.com

Dave Vicary
Nakina Systems (Software company)
Ottawa, ON
www.nakinasystems.com

MANUFACTURING

Gerard Vroomen, Phil White
Cervélo Cycles Inc. (Designs and manufactures high-end bicycles)
Toronto, ON
www.cervelo.com

Glenn Verkindt
GMA Cover Corp. (Produces multi-colour camouflaged cover systems)
Guelph, ON
www.gmacover.com

Sandeep Lal
Metro Label Group Inc. (Manufactures pressure-sensitive labels)
Toronto, ON
www.metrolabelgroup.com

MEDIA AND ENTERTAINMENT

Darryl Reiter
Children's Technology Workshop (Robotics, animation and digital video production, digital art and video game design)
Toronto, ON
www.ctworkshop.com

Kerry Shapansky
Pareto Corporation (Marketing services)
Toronto, ON
www.pareto.ca

Andy Burgess, Gordon Gibson
Somerset Entertainment (Producer and distributor of specialty music)
Toronto, ON
www.somersetent.com

PROFESSIONAL/FINANCIAL SERVICES

Samuel Duboc, Gilbert Palter
EdgeStone Capital Partners (Private equity managers)
Toronto, ON
www.edgestone.com

Eric Sprott
Sprott Asset Management Inc. (Investment management services)
Toronto, ON
www.sprott.com

TECHNOLOGY AND COMMUNICATIONS

Jeff McFarlane
I.T. Xchange (Personal computer and server technology distributor)
Oakville, ON
www.itxchange.com

Don Bowman, Dave Caputo, Tom Donnelly, Marc Morin, Brad Siim
Sandvine Incorporated (Broadband network equipment)
Waterloo, ON
www.sandvine.com

Charles Zwebner
Yak Communications (Canada) Inc. (Telecommunications services)
Toronto, ON
www.yak.ca

TURNAROUND ENTREPRENEUR

John Mercer
Bangor Metals Corp. (Designs and manufactures complex fabricated and machined products)
Toronto, ON
www.bangormetals.com

Gary Calhoun, John Keating, Michael Pley
COM DEV International Ltd. (Designs and builds spacecraft subsystems)
Cambridge, ON
www.comdev.ca

Michael Fielding
StrataFLEX Corporation (Designs, manufactures and distributes circuit boards)
Toronto, ON
www.strataflex.com

YOUNG ENTREPRENEUR

Ben Zifkin
Axsium Group (Business and technology advisory services)
Toronto, ON
www.axsiumgroup.com

Leerom Segal
Klick Communications Inc. (E-business consulting, Internet solutions, custom application development and e-learning)
Toronto, ON
www.klickstudio.com

Sean Snyder
Preferred One Inc. (Loyalty and marketing solutions)
Toronto, ON
www.preferredone.ca

>> On October 19, 2006, a finalist in each business category will be presented with a regional category award during a gala celebration, with one category recipient then being awarded the title Entrepreneur Of The Year for Ontario. The Ontario award recipient goes on to compete with top entrepreneurs from the Pacific, Prairies, Quebec and Atlantic regions for the coveted national honour of Entrepreneur Of The Year, to be announced November 2, 2006, in Ottawa. In June 2007, Canada's Entrepreneur Of The Year moves to the world stage, joining more than 35 country recipients participating in the international competition for the title of World Entrepreneur Of The Year.

The Entrepreneur Of The Year awards honour entrepreneurs who have demonstrated excellence and extraordinary success in areas such as innovation, risk taking, company development, financial performance and personal commitment to their businesses and communities. Submissions are reviewed by an independent judging panel, which is composed of several distinguished Canadian business leaders and previous award recipients. The members of the Ontario panel for 2006 are: Michael Cohen, managing general partner, VenGrowth Private Equity Partners Inc.; John F. Eckert, managing partner, McLean Watson Capital Inc.; Steve Farlow, executive director Schlegel Centre for Entrepreneurship School of Business & Economics, Wilfrid Laurier University; John Rothschild, chairman and CEO, Prime Restaurant Holdings Inc.; Ken Wong, assoc. professor Business and Marketing Strategy, Queen's School of Business - Queen's University.

The Entrepreneur Of The Year program was founded by Ernst & Young to celebrate great entrepreneurs and heighten awareness of the economic impact of entrepreneurial ventures. The program is nationally sponsored by Global Television Network, National Post, La Presse, RDI and Roynat Capital. The Ontario sponsor is Goodman and Carr LLP. To learn more about the Ernst & Young Entrepreneur Of The Year 2006 awards, visit www.eoy.ca.

Private Sector

Debbie Adare Heffner Lexus Toyota

Andrew Bauman Lewis Media Inc.

Robert Denton TD Commercial Banking

Joseph Fung Lewis Media Inc.

Brenda Graham TD Canada Trust

Felix Grande Waterloo Taxi/KW Habilitation

Guy Howell Union Gas

Wayde Putnam Deloitte & Touche

Elizabeth Singal HSBC Bank Canada

Bill Waters We Create

Public Sector

Dana Bourgeois Job Connect, Conestoga College

Olaf Heinzel Waterloo Regional Police Service

Sherrie Hyde Lutherwood

Laura Manning University of Waterloo, School of Pharmacy

Victoria Rabb St. Mary’s General Hospital

Government

Laurel Davies-Snyder City of Cambridge

Community Volunteers

Nevine El Gendy Community Volunteer

Wilda Graham Community Volunteer

Sarah Reid Community Volunteer

Family Business Review combines scholarly research and practical experience in the only scientific journal devoted exclusively to exploration of the dynamics of the family firm. It is published on behalf of the Family Firm Institute, Inc. Jim Lee is a professor at Texas A&M University-Corpus Christi. He works closely with local communities on business and economic development issues and has been an advisor to the city of Corpus Christi in Texas, Texas Family Business Association, and various Chambers of Commerce and workforce development agencies in south Texas. more...