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Geoff Cape named 'Canadian Social Entrepreneur of the Year'
Winner joins 26 international colleagues in receiving prestigious Schwab Foundation 'Social Entrepreneur of the Year' award
TORONTO - Geoff Cape, founding Executive Director of Evergreen, won Canada's top social entrepreneurship honour and will now join an esteemed network of social entrepreneurs drawn from twenty-six countries worldwide.
Mr. Cape will travel to the Annual Summit for Outstanding Social
Entrepreneurs of the Schwab Foundation in January 2008 in Switzerland. In
addition, Mr. Cape will join past and present award winners from 26 different
countries where participants will showcase their successes in addressing some
of the world's biggest social, environmental and economic problems.
"Geoff has shown leadership and innovation in the increasingly important
field of social entrepreneurship," says Tim Brodhead, President and Chief
Executive Officer of The J. W. McConnell Family Foundation. "We are very proud
to have him represent Canada at this prestigious international event."
Mr. Cape won this prominent title due to his work with Evergreen, an
innovative charity that explores the relationship between nature, culture, and
community in urban spaces. With offices across Canada, the environmental
organization brings nature to this country's cities through naturalization
projects and motivates people to create and sustain healthy, natural outdoor
spaces - all the while giving them the practical tools to do it. Mr. Cape has
grown the organization to a national level with over 70 staff and offices in
Toronto, Calgary and Vancouver.
"We had over 80 entries in the competition, and managed to select six
finalists out of an impressive pool of submissions," said David Pecaut, senior
partner at The Boston Consulting Group and Chair of the Social
Entrepreneurship Summit. "All of the candidates were remarkable, and we were
inspired by the extraordinary work they are doing. We feel that Geoff is an
excellent choice to represent Canada and Canadian social entrepreneurship in
Switzerland."
The other five finalists for the award, all leading social entrepreneurs
in Canada, were (in alphabetical order):
<<
- Tzeporah Berman - Forest Ethics (Vancouver)
- Ian Gill - Ecotrust Canada (Vancouver)
- Tim Jones - Artscape (Toronto)
- Dr. Gilles Julien - Social pediatrics (Montréal)
- Michel Labbé - Options for Homes (Toronto)
>>
Members of the Schwab Foundation Award jury committee that were involved
in the Canadian award selection process were as follows:
Tim Brodhead
L. Robin Cardozo
Ed Greenspon
Farouk Jiwa
David Pecaut
Martha Piper
The award was presented during the closing dinner of the Social
Entrepreneurship Summit held at MaRS Centre for Social Innovation in Toronto.
The event gathered over 250 business, academic and social thought leaders from
the social entrepreneurship sector in Canada who had convened for a full day
of inspiration and engagement on ways to address some of the most pressing
issues of our times.
An often under-recognized community, social entrepreneurs create and lead
an organization that are aimed at catalyzing systemic social change through
new ideas, products, services, methodologies and changes in attitude.
Hosted in partnership by MaRS Centre, The Boston Consulting Group (BCG),
the Centre for Social Innovation and the Toronto City Summit Alliance, the
Social Entrepreneurship Summit attracted the country's top social venture
funders, academics, government representatives and social entrepreneurs.
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Six finalists named for Canada's 'Social Entrepreneur of the Year' honour
Winner to join Schwab Foundation network of social entrepreneurs and
attend global summit for social entrepreneurship in Switzerland
TORONTO - Six of Canada's leading social entrepreneurs have been named as finalists for Canada's top social entrepreneurship honour. The winner, who was be announced during the Social Entrepreneurship Summit at the MaRS Centre in Toronto on the evening of December 4th, 2007, will be named Schwab Foundation's "Canadian Social Entrepreneur of the Year Award."
"The six individuals named today have shown outstanding leadership and
innovation as social entrepreneurs in Canada," says David Pecaut, senior
partner at The Boston Consulting Group (BCG), the consulting firm that has
worked with the Schwab Foundation to administer the award process. "Each of
them is a role model for others in Canada who hope to effect broad-reaching
social change through innovation."
The finalists are as follows:
Tzeporah Berman, Forest Ethics (Vancouver):
Tzeporah Berman is co-founder of Forest Ethics, a BC-based organization
that runs programs in Canada, the US, and Chile to protect endangered forests
and wildlife. They have used innovative programs to create consumer demand for
wood and paper products that are produced according to ecologically
responsible principles. Using the power of the market to drive behavior, they
have encouraged forest companies to change their methods to meet that demand.
Geoffrey Cape, Evergreen (Toronto):
Geoff Cape, founding Executive Director of Evergreen, has grown the
organization to a national level with over 70 staff and offices in Toronto,
Calgary and Vancouver. Evergreen is an innovative charity that explores the
relationship between nature, culture and community in urban spaces. With
offices across Canada, the environmental organization brings nature to our
country's cities through naturalization projects and motivates people to
create and sustain healthy, natural outdoor spaces - all the while giving them
the practical tools to it.
Ian Gill, Ecotrust Canada (Vancouver):
Ian Gill is President and founder of Ecotrust Canada and a director of
Ecotrust (Portland, Ore.) Ecotrust builds the capacity of communities,
institutions and businesses to participate in the conservation economy. The
organization raises and brokers capital to accelerate the transition to a
conservation economy and connects conservation entrepreneurs to each other and
to the marketplace. The ultimate focus of Ecotrust is to champion the
conservation economy.
Tim Jones, Artscape (Toronto):
Tim Jones is President and Chief Executive Officer of Artscape, a
non-profit enterprise that builds creative communities and expands knowledge
about the dynamics of creative places. Artscape works with developers to
create affordable living and working spaces for artists that enable cultural
districts to grow and thrive. Artscape engages in property development and
management, master planning, creation and maintenance of arts districts, and
supporting activities like research and consulting.
Dr. Gilles Julien, Social pediatrics (Montréal):
Dr. Gilles Julien is a pediatrician and champion of children's rights.
Devoted to helping children from disadvantaged families grow up in a loving
atmosphere, Dr. Julien is considered the father of social pediatrics, offering
innovative solutions in the care of neglected and abused children. Dr. Julien
believes that by looking at family ties, at interactions between parents,
children and their community, one can better interpret a child's experience
and understand why that child has developed a mental or physical illness.
Michel Labbé, Options for Homes (Toronto):
Michel Labbe is president of Options for Homes Non-Profit Corporation
dedicated to providing quality homes in great communities at the best possible
price. Through a range of services, the organization strives to bring home
ownership within the reach of families with gross annual incomes as low as
$40,000. Options has assembled teams of professionals and builders willing to
work for the purchasers themselves, to produce quality homes they can enjoy.
Options acts as a consultant to homeowners, working on their behalf to create
their community.
Schwab Foundation's Social Entrepreneur of the Year Award:
The winner will travel to the Annual Summit for Outstanding Social
Entrepreneurs of the Schwab Foundation in January 2008 in Switzerland. Joining
international award winners from 26 different countries, participants will
showcase their success in addressing some of the world's biggest social,
environmental and economic problems.
"It is a tremendous honour to be one of Canada's top social
entrepreneurs," says Tim Brodhead, President and Chief Executive Officer of
The. J. W. McConnell Family Foundation. "One of these finalists will go on to
represent our country at the most influential gathering of social
entrepreneurs in the world."
Social Entrepreneurship Summit:
The Social Entrepreneurship Summit will be held at the MaRS Centre in
Toronto on December 4th, 2007. The meeting will gather over 250 business,
academic and social thought leaders from the social entrepreneurship sector in
Canada who will discuss new approaches to address some of the most pressing
issues of our times.
An often under-recognized community, Social Entrepreneurship is about an
ability to create and lead an organization that is aimed at catalyzing
systemic social change through new ideas, products, services, methodologies
and changes in attitude.
Hosted in partnership by MaRS, The Boston Consulting Group (BCG), the
Centre for Social Innovation and the Toronto City Summit Alliance, the Social
Entrepreneurship Summit will attract the country's top Social venture funders,
academics, government representatives and social entrepreneurs.
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MINISTER AMBIKA SONI PRESENTS SOCIAL ENTREPRENEUR OF THE YEAR 2007 AWARD FOR INDIA TO HARISH HANDE
New Delhi – Harish Hande, Managing Director, SELCO Solar Light, India, has been named the Social Entrepreneur of the Year 2007 for India. Minister of Tourism and Culture Ambika Soni presented the award to Hande during the World Economic Forum’s India Economic Summit. The Schwab Foundation for Social Entrepreneurship and the Nand & Jeet Khemka Foundation have collaborated with the United Nations Development Programme (UNDP) and the Confederation of Indian Industry (CII) to select and reward the Social Entrepreneur of the Year 2007 for India.
Hande, visibly excited after winning the award, said, “It is wonderful that SELCO’s efforts to link poverty alleviation and the climate have been recognized. We, at SELCO, sincerely hope the award can bring to attention that environment-friendly technologies like solar can provide solutions to the underserved populations.”
Hande will participate as a Global Social Entrepreneur in the World Economic Forum Annual Meeting 2008 in Davos, Switzerland, which provides unprecedented opportunities to engage with global decision-makers from the public and corporate sectors, the media and academia to strengthen and expand the winner’s model. In addition, Hande is eligible to be named a “Khemka Fellow” and receive a financial award from the Nand & Jeet Khemka Foundation.
Around 57% of the Indian population does not have electricity and for many more the supply is unreliable. Hande has pioneered access to rural solar electrification for families living below the poverty line through a combination of customized home lighting systems and innovative doorstep financing, and an understanding of market needs of different user groups. An example is solar lights on miners’ caps for midwives and rose sellers. To date, he has reached 80,000 clients in Karnataka and Kerala, and recently moved into Gujarat.
“Social entrepreneurs are the innovators who are able to engage business in mutually beneficial ways that benefit both the bottom line and social or environmental issues. The Social Entrepreneur of the Year award seeks to highlight the contributions made by these outstanding entrepreneurs. We hope this will inspire others to either start a social enterprise or support one,” added Klaus Schwab, Founder of the Schwab Foundation for Social Entrepreneurship.
Uday H. Khemka, Managing Trustee of the Nand & Jeet Khemka Foundation, India, said, “Globalization in the developed world has resulted in a shift away from a mere social welfare approach to social development. Social entrepreneurs better leverage on resources, enhance effectiveness through creative partnerships, raise expectations for performance and accountability, and ultimately achieve more sustainable social impact.”
The following eminent jury members selected the Indian Social Entrepreneur of the Year from among four finalists: Montek S. Ahluwalia, Deputy Chairman of the Planning Commission of India; Rohini Nilekani, Chairperson, Arghyam Foundation, India; Shailesh Shah, Director and Senior Vice-President, Corporate Strategy Group, Satyam Computer Services, India; Parag Gupta, Head of South Asia, Schwab Foundation for Social Entrepreneurship, Don Mohanlal, Executive Director, the Nand & Jeet Khemka Foundation, and Thulasiraj Ravilla, Executive Director, Aravind Eye Hospital, India. The finalists were identified through an open competitive process that surfaces social entrepreneurs whose work has created, or has the potential to create, large-scale, transformational benefit for disadvantaged populations or for society at large.
Other finalists included Chetna Sinha, Chairperson of Mann Deshi Mahila Sahakari Bank; Rajendra Joshi, Managing Trustee of Saath Charitable Trust; and Pravin Mahajan, Executive Director of Janarth.
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Succession Planning & An Entrepreneur's Journy - January 2008 Family Business Events:
- Jan. 16th ½ Day Skill Workshop - Morning: Changing Lanes Without a Major Collision
- Jan. 16th ½ Day Advisor Workshop - Afternoon: Enhance Your Role as a Most Trusted Advisor
- Jan. 25th Breakfast Seminar: An Entrepreneur's Journey: Passion, innovation and community
- Jan. 25th Roundtable Information Session
For more information please contact:
Jill Weaver
Administrative Director
jweaver@cffb.ca
Phone: (519) 749-1441
Fax: (519) 749-9087
www.cffb.ca
Centre for Family Business
Conrad Grebel University College
140 Westmount Road North,
Waterloo, ON N2L 3G6
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Canada’s CFO of the Year™ 2008 Award Nominations Now Open
— Submit your nomination at CFOY.ca —
Toronto — Nominations are now being accepted at www.cfoy.ca for the 2008 Canada’s CFO of the Year™ Award. The award is given annually by presenting sponsors PricewaterhouseCoopers LLP (PwC), Financial Executives International Canada (FEI Canada) and The Caldwell Partners International. Now in its sixth year, the award honours the quality, insight, direction and leadership of Canada’s senior financial leaders. Nominations close on March 31, 2008.
Candidates, from any business sector, may be nominated by CEOs, corporate directors, financial analysts and other senior executives. An independent selection committee, chaired by Peter Dey, Chairman, Paradigm Capital Inc., and composed of some of Canada’s most prominent business leaders, will select the 2008 award winner. The 2008 recipient of Canada’s CFO of the Year Award will be honoured at a gala dinner on May 29, 2008 at The Fairmont Royal York in Toronto.
“The CFO of the Year Award recognizes the tremendous achievements and the valuable contributions that are made on a daily basis by financial leaders across Canada,” says Michael Conway, President and CEO of FEI Canada. “Each year the quality of the nominations is a testament to the profession.”
Previous recipients of Canada’s CFO of the Year Award include:
2007: Marvin Romanow, Executive Vice-President and Chief Financial Officer, Nexen Inc.
2006: Karen Maidment, Chief Financial and Administrative Officer, BMO Financial Group
2005: Claude Mongeau, Executive Vice-President and Chief Financial Officer, CN
2004: Peter Rubenovitch, Senior Executive Vice President and Chief Financial Officer, Manulife Financial Group
2003: Peter W. Currie, former, Vice-Chairman and Chief Financial Officer, RBC Financial Group.
“Over the past five years we’ve seen many accomplished executives honoured for their commitment to sound financial reporting, to building public trust and for assuming a critical leadership role at the companies they work for,” says Chris Clark, Canadian Senior Partner and CEO, PwC. “We are looking forward to adding another name to this impressive list of award recipients.”
Douglas Caldwell, Chair and Chief Executive Officer of The Caldwell Partners International adds, “In the five years that we have sponsored this Award we have seen the pressures on CFOs increase dramatically; from regulators, investors, Boards of Directors, and Chief Executive Officers. These pressures on CFOs are enormous, and they deserve our recognition and praise for their contribution.”
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L.A and Toronto unite to create the first full-scale nighttime beauty
lounge in North America
MUZIK to donate portion of proceeds to Rethink Breast Cancer charity
TORONTO - Vanity is about to be taken to whole new level as L.A.'s hottest makeup line merges with Toronto's most exclusive Saturday night destination. On Saturday, December 8, 2007 MUZIK will unveil the Stila Beauty Lounge, a salon-style lounge where female guests get fully pampered with makeup applications by Stila artists and hairstyling by industry professionals - all while enjoying champagne and hors d'oeuvres. Services are all complimentary.
The launch of the Stila Beauty Lounge kicks off at 8:30 p.m. with a
special VIP reception for media and special guests. MUZIK will then open its
doors to the public at 9 p.m. with complimentary admission for female guests
before 11 p.m. A charitable contribution of $5 from each entry will be donated
to the Rethink Breast Cancer charity on behalf of MUZIK.
The ambitious partnership between MUZIK and Stila Cosmetics expands on
MUZIK's pre-existing Beauty Bar and will be in full effect every Saturday. In
addition to being pampered, female guests will receive a special Stila gift
bag when they leave MUZIK that includes a gift redemption card, good for use
at any Toronto Sephora stores. Once there, Sephora will provide customers with
a MUZIK card directing them to the exclusive Sephora VIP line where they will
receive complimentary red carpet admission until 11 p.m.
MUZIK has established itself as the ultimate destination for the Toronto
and Hollywood elite since its red carpet world premiere with Samuel L. Jackson
during the Toronto International Film Festival. Special guests since have
included Carmen Electra, Kelly Carlson, Christina Ricci, Petra Nemcova and
Shakira. Events that MUZIK has hosted include L'Oreal Fashion week, The Grand
Prix of Toronto Drivers' Party, The AGO Massive Party, The Audi Q7 Launch, The
Red Party (Toronto Raptors) and the official after party for the ONEXONE Gala.
For more information on Muzik, please visit www.muzikclubs.com.
The beautiful brainchild of a celebrity makeup artist, Stila was created
in 1994. Since day one, Stila has been synonymous with innovative,
easy-to-use, high-quality products that work for everyone - from the on-the-go
mom to the seasoned makeup artist. Stila's multi-tasking formulas and
fashion-forward colors have cemented their place on the must-have list of
trendy fashionistas and celebrity makeup artists alike. Stila is a regular on
the pages of Allure and In Style and walks the New York fashion week runways
for top designers like Marchesa. For more information on Stila Cosmetics visit
www.stilacosmetics.com.
Rethink Breast Cancer is an innovative charity that reaches out to young
people concerned about and affected by breast cancer. By taking a breakthrough
approach to all aspects of breast cancer - medical research, support, public
awareness and fundraising - Rethink Breast Cancer is expanding support for the
cause. For more information on Rethink Breast Cancer, please visit
www.rethinkbreastcancer.com.
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Who are Canada's richest Canadians? (Hint: more than half of them are billionaires)
Canadian Business magazine's 9th-annual Rich 100 list arrives on newsstands - Waterloo has two of the top ten.
TORONTO - This year's Rich 100, Canadian Business magazine's exclusive annual ranking of the wealthiest Canadians, is populated by a bumper crop of billionaires. For the first time ever, more than half of the list is made up of people who have hit the 10-digit mark; 54 of them, in fact, up from 46 in last year's ranking.
There has also been a sea change near the top of the list. For the first
time since 2000, Galen Weston does not hold the No. 2 spot. That honour now
goes to Ted Rogers, whose estimated net worth is up 67% over last year.
Canadian Business magazine also welcomes two new members: mining investor Rob
McEwen, and Dennis (Chip) Wilson of yoga apparel firm Lululemon Athletica.
Additionally, while this year saw the return of home builders the Libfeld
family, who last made an appearance on the Rich 100 in 2005, it is also the
year to say goodbye to three members of last year's list whose net worth
didn't reach the minimum of $445 million: Chuck Fipke, Louise Blouin MacBain
and Lawrence Stroll.
The Rich 100 Top Ten:
1. Thomson Family
$25.35 billion, up 4%
Location: Toronto
'06 rank: 1
2. Edward (Ted) Rogers Jr., 74
$7.6 billion, up 67%
Location: Toronto
'06 rank: 4
3. Galen Weston, 67
$7.27 billion, up 2%
Location: Toronto
'06 rank: 2
4. Paul Desmarais Sr., 80
$5.64 billion, up 28%
Location: Montreal
'06 rank: 5
5. James (J. K.), Arthur, John (Jack) Irving, 78, 76, 75
$5.3 billion, down 3%
Location: Saint John, N.B.
'06 rank: 3
6. James (Jimmy) Pattison, 79
$4.52 billion, up 4%
Location: Vancouver
'06 rank: 6
7. Jeff Skoll, 42
$4.48 billion, up 14%
Location: Palo Alto, Calif.
'06 rank: 7
8. Michael Lazaridis, 46
$4.36 billion, up 157%
Location: Waterloo, Ont.
'06 rank: 24
9. James Balsillie, 46
$4.09 billion up 153%
Location: Waterloo, Ont.
'06 rank: 25
10. Bernard (Barry) Sherman, 65
$3.61 billion, up 12%
Location: Toronto
'06 rank: 8 |
Toronto Region companies dominate Top 50 lists
TORONTO - The Toronto Region has many more companies on the Branham Top Technology 50, Deloitte Fast 50 and Profit Magazine's Hot 50 lists than any other region in Canada.
Sixty-two per cent (31) of Profit Magazine's Hot 50 and 52 per cent (26)
of the Branham Top Tech 50 companies are located in the Toronto Region which
encompasses Durham, Halton, Hamilton, Peel, Toronto, Waterloo, Wellington, and
York regions. Forty-two per cent (21) of the businesses on the Deloitte
Technology Fast 50, which ranks the country's 50 fastest-growing technology
companies, are based in the region. (See linked chart with rankings)
"The Toronto Region significantly outperforms other parts of Canada when
it comes to small business start-ups, fast-growing technology companies, and
top technology companies," said Courtney Pratt, Chairman and CEO, Toronto
Region Research Alliance (TRRA).
The Branham and Deloitte technology rankings also support the findings of
a study conducted by the IBM Global Location Strategies Team earlier this
year. The report found that the region's information and communications
technology (ICT) sector ranks with world leaders and finishes well ahead of
the pack in digital media. Other technology strengths include semi-conductors,
distributive computing, systems design, artificial intelligence (machine
learning), networking and communication, knowledge representation/natural
language processing and photonics.
"The region has the expertise that today's high-tech companies want and
need to stay competitive - but we can't afford to be complacent," said Mr.
Pratt. "We have to focus on producing graduates with advanced engineering and
business degrees because these skills are critical to increasing the quality
of the region's innovation offering in technology and other sectors."
With a GDP of $323 billion and 7.2 million people, the Toronto Region has
an advanced, diversified economy that is home to well-established,
research-intensive industry clusters, including North America's second largest
financial services and automotive clusters, third largest information and
communication technology cluster, and sixth largest bio-pharmaceutical
cluster.
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The World Economic Forum Announces Technology Pioneers 2008
The entire list of Technology Pioneers and interviews with the CEOs of the selected companies can be found on: http://www.weforum.org/techpioneers/2008.
LAUSANNE, Switzerland - The World Economic Forum has announced the 39 visionary companies selected as Technology Pioneers 2008. Based in Lausanne, the Swiss company Anecova is one of them.
The Technology Pioneers 2008 were nominated by the world's leading technology experts, including venture capitalists, technology companies, academics and media. The final selection from 273 nominees was made by a panel of leading technology experts appointed by the World Economic Forum. Anecova and mondoBiotech are the first Swiss biotech companies selected as Technology Pioneers.
These Technology Pioneers 2008 are invited to participate in the World Economic Forum Annual Meeting 2008 that will be held in Davos, Switzerland, on 23-27 January and in the Annual Meeting of the New Champions that will be held in Tianjin, People's Republic of China on 25-27 September 2008.
Anecova (http://www.anecova.com) is a leading life science company focused on the development and commercialization of innovative technologies in the field of medically assisted procreation. Anecova's aim is to improve results and the overall quality of care thanks to more physiological and natural processes. The first Anecova product restores the fertilization and early embryonic development phases back into the physiologic environment of the maternal uterus instead of in a laboratory incubator. This allows the development of the embryos to take place in close communication and exchange with maternal factors from the very start of life.
The preliminary results already obtained have been very encouraging.
Anecova is currently undertaking clinical evaluation programs in close
collaboration with international experts in the field, pursuing its quest for
medical solutions of the highest quality for patients worldwide.
"We are honoured to have been selected as a Technology Pioneer for 2008
as a result of our research for a more natural approach to improve medically
assisted procreation," said Martin Velasco, Founder, Chairman and CEO. "This
award further motivates us to continue to work in the development of
innovative Assisted Reproductive Technology (ART) solutions adding value to
society at large."
"We would like to associate to this Award Prof. Patrick Aebischer (EPFL),
Prof. Carlos Simon (IVI-Valencia) and Prof. Paul Devroey (VUB-Belgium) and
their teams for their valuable contribution," added Martin Velasco.
Technology Pioneers are companies that have been identified as developing
and applying highly transformational and innovative technologies in the areas
of energy, biotechnology and health, and information technology. To be
selected as a Technology Pioneer, a company must be involved in the
development of life-changing technology innovation and have the potential for
long-term impact on business and society. In addition, it must demonstrate
visionary leadership, show all the signs of being a long-standing market
leader - and its technology must be proven.
Previous Technology Pioneers have included Business Objects, Cambridge
Silicon Radio, Corel Corporation, Encore Software, Google, Mozilla Corporation
and Napster.
Twenty-three of the Technology Pioneers 2008 are US-based companies.
Israel and the United Kingdom each boast three; Sweden and Switzerland two
each; Canada, France, Germany, India, the Netherlands and Russia, one each.
Technology Pioneers are nominated in three main categories:
Energy/Environment, Biotechnology/Health and Information Technology.
The entire list of Technology Pioneers and interviews with the CEOs of the selected companies can be found on: http://www.weforum.org/techpioneers/2008.
"This year the World Economic Forum received a record number of
applications from companies around the world to become a Technology Pioneer.
In a highly competitive field, we are extremely pleased to have a community
that uses innovation and technology to dramatically affect the way society and
business operate and to do so in a markedly collaborative manner. We are
excited to welcome the Technology Pioneers class of 2008 to the larger
community of the World Economic Forum and we are looking forward to the fruits
that their collaboration will bring," said Peter Torreele, Managing Director
of the World Economic Forum.
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TEC Edmonton appoints biotech veteran as new Executive in Residence
Former Isotechnika CEO Yatscoff to boost Alberta pharmaceutical start-ups
EDMONTON - TEC Edmonton and the Alberta Heritage Foundation for Medical Research (AHFMR) today announced the appointment of Dr.?Randall Yatscoff as TEC Edmonton's new Executive in Residence. Dr. Yatscoff will focus on providing strategic guidance, business planning and management expertise to a group of early stage start-up companies, with a focus on pharmaceuticals.
Dr. Yatscoff was previously President and CEO of Isotechnika (ISA: TSX),
a leading Canadian biotechnology company focused on the discovery and
development of immunosuppressive drugs. During his 10-year tenure, Isotechnika
raised close to $200 million through various equity financings. The company
began as a spin-off company from the University of Alberta.
Prior to joining Isotechnika in 1996, Dr. Yatscoff spent 16 years in
academic appointments at the University of Western Ontario, University of
Manitoba and the University of Alberta. Dr. Yatscoff retains a position as
Adjunct Professor in the Faculty of Medicine at the University of Alberta.
Dr.?Yatscoff is also chairman of the board of St. Joseph's College at the
University of Alberta. He has over 200 publications in peer-reviewed journals
and holds more than 20 patents. He is also a board member and consultant to
CardioMetabolics, a University of Alberta spin-off company focused on the
treatment of cardiovascular disease and other metabolic diseases, and a
consultant with Isotechnika.
The Executive in Residence program helps improve the viability and growth
potential of new start-up technology companies. With support from AHFMR's
ForeFront Program and other partner organizations, TEC Edmonton recruits
experienced senior managers from specific industries to provide free strategic
guidance, business planning, and management stewardship to qualified early
stage startup companies. The goal of the program is to have the individual
leave TEC Edmonton before or at the end of their two-year appointment to
become a senior manager of one of the companies they have helped to develop.
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Survey Reveals Consistent Corporate Support for Social Responsibility Programs
TORONTO - Corporate social responsibility programs have been in the public spotlight in recent years, but a new survey suggests these initiatives have long been popular with companies. More than three-quarters (84 per cent) of chief financial officers (CFOs) polled said programs that support charitable giving or community involvement are important to their organizations. The results mirror a similar survey conducted in 2002.
The survey was developed by Robert Half Management Resources, the world's
premier provider of senior-level accounting and finance professionals on a
project and interim basis. It was conducted by an independent research firm
and includes responses from 270 CFOs from a stratified random sample of
Canadian companies with 20 or more employees.
CFOs were asked, "For your firm, how important are social responsibility
programs, such as charitable giving or volunteer community service?" Their
responses:
2007 2002
---- ----
Very important.......................... 37% 35%
Somewhat important...................... 47% 39%
Not at all important.................... 13% (*)21%
Don't know/no answer.................... 3% 5%
---- ----
100% 100%
(*) For 2002, the "not at all important" category combines the "not very
important" and "not at all important" responses.
"Even though businesses have long recognized the importance of giving
back to the communities they serve, growing interest in corporate
responsibility efforts may be prompting firms to become more sophisticated at
communicating their good works to employees and the larger business
community," said Paul McDonald, executive director of Robert Half Management
Resources.
McDonald added, "Charitable initiatives help businesses attract and
retain an engaged workforce by establishing an emotional tie between employees
and the company. Active social responsibility programs enhance a firm's
reputation among clients, customers and community partners."
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Quarterly financial statistics for enterprises Third quarter 2007
Higher profits in the oil and bank industries spearheaded a 5.8% upswing in third quarter operating profits to a record high $67.0 billion. The third quarter growth was the strongest in seven quarters, but most of the increase was concentrated in a handful of industries.
Almost half of the third quarter gain came from the banking and oil and gas industries. Motor vehicle and parts manufacturers and telecommunications companies showed significant profit increases as well, but these were mainly due to unusually large charges booked against profits in the second quarter.
Non-financial industries earned $47.5 billion, up 5.7% from the second quarter, which had shown a 0.4% profit decline. The financial industries' profits of $19.4 billion were up 6.2%, building on a second-quarter increase of 5.1%.
Motor vehicles post biggest profit increase in manufacturing sector
Overall profits in the manufacturing sector increased 8.3% to $11.7 billion in the third quarter, but remained well below the most recent high, which reached $12.7 billion in the second quarter of 2004. Profits had declined in four of the previous six quarters. For this sector, third quarter operating revenues were down for a second consecutive quarter. The Monthly Survey of Manufacturing recently reported that manufacturers' sales have shown a weakening trend over the past six months, with the appreciating Canadian dollar playing a major role.
Motor vehicle and parts manufacturers earned $0.6 billion in the third quarter, compared with less than $0.1 billion in the second quarter. However, second quarter profits were trimmed by unusually large operating charges, leading to the third quarter improvement. Operating profits have been on a downward trend since peaking at $2.5 billion in the second quarter of 2000.
Operating revenue for motor vehicle and parts manufacturers declined for a second straight quarter, falling 0.9% to a four-year low of $31.7 billion. Exports of transportation equipment declined, pulled down by lower exports of trucks and motor vehicle parts due to softening US demand.
Wood and paper manufacturers eked out $0.1 billion in third quarter operating profits, compared with a loss of $0.1 billion in the second quarter. Nonetheless, current profits pale in comparison to the high of $2.0 billion earned in the second quarter of 2004.
Operating revenue of wood and paper producers dropped for a third straight quarter, falling 5.9% to $17.2 billion. Quarterly revenue peaked at $21.0 billion in 2004. Ongoing strikes in Western Canada disrupted third quarter lumber production. Lumber and paper exports were tempered by weakening demand from south of the border. As well, returns for exporters continued to suffer the effects of the high-flying loonie.
Petroleum and coal manufacturers' operating profits rose 3.0% to $3.4 billion, reflecting steady demand and robust oil prices. On the other hand, chemical and plastics producers lost ground as their profits fell 10.3% to $1.4 billion.
High crude prices boost oil and gas industry profits
Oil and gas extraction industry profits of $8.0 billion were the highest in four quarters, up 9.6% from the second quarter. Domestic and export crude oil prices strengthened in the quarter, but these increases were somewhat offset by falling natural gas prices.
Other non-financial industries
The information and cultural industries saw profits swell to $3.4 billion from $2.7 billion in the second quarter. Within this group, telecommunication carriers earned a more typical $2.5 billion, following a second quarter tumble to $2.0 billion due to large, one-time remuneration expenses booked in the quarter.
Wholesalers' profits of $4.8 billion were 3.1% above second quarter levels. Operating revenue was essentially flat (+0.3%), following 1.9% growth in the second quarter.
Retailers reported a 3.9% rise in operating profits to $4.1 billion. Operating revenue edged up 0.5% following much stronger growth in the previous two quarters.
Banks lead the financial sector
Operating profits in the financial sector climbed 6.2% to a record $19.4 billion, following a 5.1% rise in the second quarter.
The chartered banks earned all-time-high operating profits of $8.0 billion, up 12.2% from the prior quarter. Bank profits have risen for six consecutive quarters. In the most recent quarter, higher net interest revenue accounted for most of the profit gain. Recently announced asset-backed commercial paper write-downs are not included in these results but may impact fourth quarter results.
Non-depository credit intermediaries' profits of $2.4 billion were up 8.5% from the second quarter. Life insurers saw profits slip 5.0%, while property and casualty insurers' profits were flat.
Profitability ratios
The operating profit margin strengthened from 8.5% in each of the first two quarters of 2007 to 8.9% in the third quarter.
The return on shareholders' equity rose to 12.3% from 11.7% in the previous quarter. This profit measure peaked at 14.3% in the second quarter of 2006.
| Quarterly financial statistics for enterprises |
| |
Third quarter 2006r |
Second quarter 2007r |
Third quarter 2007p |
Third quarter 2006 to third quarter 2007 |
Second quarter to third quarter 2007 |
| |
Seasonally adjusted |
| |
$ billions |
% change |
| All Industries |
|
|
|
|
|
| Operating revenue |
721.8 |
748.5 |
752.4 |
4.2 |
0.5 |
| Operating profit |
61.4 |
63.3 |
67.0 |
9.1 |
5.8 |
| After-tax profit |
41.3 |
43.1 |
46.0 |
11.3 |
6.7 |
| Non-financial |
|
|
|
|
|
| Operating revenue |
652.0 |
676.4 |
678.2 |
4.0 |
0.3 |
| Operating profit |
44.5 |
45.0 |
47.5 |
6.9 |
5.7 |
| After-tax profit |
30.9 |
31.1 |
33.9 |
9.8 |
9.0 |
| Financial |
|
|
|
|
|
| Operating revenue |
69.7 |
72.1 |
74.2 |
6.4 |
2.9 |
| Operating profit |
16.9 |
18.3 |
19.4 |
14.7 |
6.2 |
| After-tax profit |
10.4 |
12.0 |
12.1 |
15.6 |
0.8 |
| r | revised |
| p | preliminary |
| Note: | Figures may not add up to totals because of rounding. |
|
Note to readers
These quarterly financial statistics are based upon a sample survey and represent the activities of all corporations in Canada, except those that are government controlled or not-for-profit. An enterprise can be a single corporation or a family of corporations under common ownership and control, for which consolidated financial statements are produced.
Operating profits represent the pre-tax profits earned from normal business activities, excluding interest expense on borrowing and valuation adjustments. For non-financial industries, operating profits exclude interest and dividend revenue and capital gains/losses. For financial industries, interest and dividend revenue, capital gains/losses and interest paid on deposits are included in the calculation of operating profits.
After-tax profits represent the bottom-line profits earned by corporations.
|
Three Senior Executives at TD Bank Financial Group Named Among Top 100 Most Powerful Women
Women's Executive Network (WXN)(TM) Award Program Recognizes Outstanding
Canadian Leaders
TORONTO - TD Bank Financial Group (TDBFG) is proud to announce that three of its executives have been recognised by the Women's Executive Network (WXN) award program.
Patricia Lovett-Reid, Senior Vice President of TD Waterhouse, and Teri
Currie, Executive Vice President of Human Resources, TDBFG, are recipients of
WXN's Canada's Most Powerful Women: Top 100 Awards. A three-time winner,
Colleen Johnston, Chief Financial Officer, TDBFG, has been inducted into WXN's
Top 100 Hall of Fame.
The Top 100 Awards program identifies and celebrates the 100 most
exceptional and influential women in Canada. An independent Advisory Board has
selected the winners based on defined, measurable criteria. Teri Currie is
being recognized in the Corporate Executives category, a category open to
women who hold the most senior positions in Canada's largest companies.
Patricia Lovett-Reid is being recognized in the Trailblazers and Trendsetters
category, which honours women who are pioneers in their fields and have made
great contributions to Canadian society.
"It's a privilege to work every day with such talented people," said Ed
Clark, President and CEO, TDBFG. "Pattie, Teri and Colleen have achieved
phenomenal success in their careers and are clearly making an impact as role
models not only at TD but also in the broader community through the worthy
causes they support. They are exemplary leaders, and I'm very proud to have
them on TD's executive team."
One of Canada's leading authorities on matters of personal finance and
wealth management strategies, Patricia has held a number of executive
positions within TDBFG, and is a regular market commentator for Business News
Network (BNN), Canada AM, CTV NEWSNET and CP24. Patricia is also the host of
MoneyTalk, a national prime-time television program on BNN about personal
finance. An avid volunteer, Patricia is an advisory board member for Top 20
under 20 (Youth in Motion), Youth Employment Services and "Meagan's Walk:
Creating a Circle of Hope." She is also a regular speaker for the Canadian
Cancer Society.
Teri is responsible for the global human resources function at TDBFG. In
addition to her business achievements, Teri has shown leadership in her
community volunteer activities including her work with the Juvenile Diabetes
Research Foundation and as a mentor for the Toronto Region Immigrant
Employment Council. Teri also serves on the Board of Career Edge, an
organization that connects skilled graduates and internationally qualified
professionals with Canadian internship opportunities.
As CFO and Group Head Finance, Colleen has responsibility for all aspects
of external and regulatory financial reporting and performance measurement at
TDBFG. Her community volunteer and leadership activities include her role as
chair of the ShareLife Corporate Campaign and a member of the Mission
Committee for the Heart and Stroke Foundation. Colleen remains on the board of
Bridgepoint Health, where she was previously chair for three years. She is
actively involved in promoting diversity in the workplace as chair of TD's
Women in Leadership Committee.
|
A Student Entrepreneur's chance to win $10,000!
TORONTO - Nominations for the 2008 National Student Entrepreneur Competition will be accepted until 5pm EST on Friday, December 7th, 2007. If you are a successful entrepreneur attending university or college, or you know someone who is, this is your last chance to submit a nomination.
This award celebrates the incredible commitment, determination and achievements of student entrepreneurs from across the country with a series of competitions taking place provincially, regionally and nationally. The award is open to full-time students at Canadian universities or colleges who are also running their own businesses. Nominating a student is simple and the nomination form is available at www.acecanada.ca. Eligible students are also encouraged to nominate themselves.
A panel of provincial judges will review written application forms and will select the provincial champions. These champions will go on to compete in a regional competition where they will be given the opportunity to present their company live to a panel of judges. Regional champions will be selected to move on to the final round of competition at the 2008 ACE National Exposition, May 12th to 14th, 2008 in Toronto. All finalists will have their travel expenses paid to each event and regional champions will each receive a $1,000 cash prize. The National Student Entrepreneur Champion will be named in May and will receive a $10,000 cash prize and will be invited to represent Canada at the Global Student Entrepreneur Awards if he or she qualifies.
"We have been impressed with the quality and number of nominations we have received so far this year," comments Amy Harder, President of ACE. "But with that said, we also know there are many other student entrepreneurs across Canada who have not yet applied or been nominated. These amazing student entrepreneurs deserve to be recognized for their hard work and dedication, so we strongly encourage everyone to nominate all qualified candidates!"
To be eligible for the award, students must meet the following criteria:
*Be a full-time undergraduate and/or graduate student at a Canadian university or college for the 2007-2008 academic year;
*Be a founder and have at least 50% ownership of the company and be principally responsible for its operation;
*Have been in business for at least the past six months (as of September 4th, 2007); and
*Have not competed in the final round of the National Student Entrepreneur competition in the past.
Deadlines
Friday, December 7, 2007: Nominations/self nominations close
Friday, January 4, 2008: Applications due
Founded in the mid-1980s, ACE is a national, not-for-profit organization that is igniting young Canadians to create brighter futures for themselves and their communities. Working in partnership with business and higher education, ACE operates a team-based program, Students In Free Enterprise (SIFE) and an individual-based program, Student Entrepreneur. Through these two programs, ACE is a catalyst in the development of university and college students who make a meaningful contribution towards a better country, as entrepreneurs and business leaders.
Operated by ACE and proudly presented by CIBC, the Student Entrepreneur Program is the only national program to focus solely on full time Canadian post secondary student entrepreneurs. It is a program that strives to enrich participant's lives through recognition, networking opportunities and unique educational tools.
|
Junk Genie nominated for the Greater Kitchener Waterloo Chamber of Commerce 2008 Environment Award.
Junk Genie started in May of 2005 as a local kitchener based full service junk removal business.
The nomination recognizes the outstanding effort that the local junk removal company provides to divert residential and commercial waste from our landfill and transfer stations. By driving metal to scrap metal yards, re-usable building materials to Habitat for Humanity and donatables to local charities! It makes good business sense to Reduce, Re-use and Recycle. Some clients think owner George Da Rosa should change the name from Junk Genie to Junk Genius!
|
AXO OPENS STATE OF THE ART FACILITY DEDICATED TO
SECURE DOCUMENT SHREDDING TRUCKS
A growing industry embraces simplicity and innovation developed by AXO and leads to
creation of the shredding industry’s most advanced manufacturing facility
Kitchener - The Secure Document and Information Destruction business is growing. Continent wide demand for the Secure Document Shred trucks built by Kitchener based AXO Shredders Corp. has created an opportunity for AXO to double the size of their current facility and move to a state of the art factory designed to build 150 to 200 SDS trucks per year.
Company spokesman and Director of Sales Michael Oden puts it this way “ We started up with one
mission in mind, to change the industry’s perception of what a mobile shred truck could be and to provide
a choice to clients looking for trouble free maintenance and a lower total cost of ownership. We
manufacture simplicity into every truck we build and simplicity is what operators need.”
The new facility, at just under 20,000 square feet, houses engineering, manufacturing, sales and
administration and offers the potential to grow with demand. Technical director and founding partner
Peter Viveen is excited about the prospects. “ We now have the capability to increase production while
controlling costs and quality all in one facility. We are the only SDS truck manufacturer that builds the
entire truck, including body and frame, integration of driveline and power transmission as well as control
systems and fabrication.”
Scott Fasken a recognized leader and pioneer in the Secure Document Destruction Industry offers these
comments: “AXO changed the face of the shredding industry by being the first manufacturer to recognize
the value of a route vehicle” states Fasken. “I was a big truck person and have discovered the cost
savings and value proposition of the small truck, but since full sized trucks are still the backbone of the
business AXO has covered all the bases with the full sized 608 SELECT and 608 STAK. With the simplified
shredder system and straightforward operation, it is no mystery why AXO has seen significant growth.”
Fasken is a member of the Conflict Resolution and PR Committees and is the Chairman of the 2008 NAID
Convention in Anaheim, CA.
|
Opportunities await Canadian companies in North England
TORONTO - The strong Canadian dollar, favourable R&D tax regimes and easy access to Europe's 390 million people are all catalysts for Canadian companies wishing to expand and invest into the North England Region.
As a result, The North of England Inward Investment Agency (NoE) is
announcing the appointment of Neal Lilliott as Vice President Business
Development for Canada. A newly created role and previously serviced from the
agency's US offices, Mr. Lilliott will provide a free consultancy service to
Canadian companies looking at business opportunities in the UK and European
market.
Based in Toronto, Mr. Lilliott will be working with companies looking to
either open operations in North England or collaborate with UK firms looking
for partners. The NoE is a UK government sponsored agency with the remit of
facilitating inward investment into the region at no cost to organizations.
"The Canadian economy is enjoying a considerable period of growth and
companies are seeking to expand their technology and markets to the UK and
Europe. North England has long been an important location for Canadian
companies offering a competitive, high skill location," cites Lilliott.
"The energy, technology and broad high value manufacturing base in the
North England provide a home to a number of successful Canadian companies,
including, Alcan, Maple Leaf Foods, CCL Industries and Bombardier."
Working closely with the UK Government's National International Business
Agency, UK Trade and Investment, which has offices across Canada, the NoE
provides market feasibility studies, including region-specific economic and
market information, support for setting up a legal entity in the UK and site
location.
|
2008 Canadian Business Hall of Fame Laureate Inductees Announced
Annual awards program recognizes 30th Laureate Class of Canadian business leaders for contributions and achievements; induction ceremony set for May 6, 2008
TORONTO - The JA Canada Foundation proudly announces The Canadian Business Hall of Fame 30th Laureate Class for 2008:
In preparation for the 2008 Induction Ceremonies and Gala Dinner on May 6, 2008, the Canadian Business Hall of Fame today announced its 30th Laureate Class:
- John Cleghorn, Former CEO, Royal Bank of Canada
- Serge Godin, Founder and Executive Chairman, CGI Group
- Arthur Irving, Irving Oil Limited
- Jack Irving, Irving Oil Ltd.
- J.K. Irving, J.D. Irving Ltd.
- John Robert (Bud) McCaig, Former Chairman, Trimac Corporation (posthumously)
These six prominent business leaders are recognized for their business excellence and honoured for their outstanding business achievements and enduring contributions to Canadian society.
New in 2008, the Canadian Business Hall of Fame will be inaugurating the Order of the Business Hall of Fame in a pre-Gala Homecoming Reception on May 6. Laureates past and present will become Companions in recognition of their outstanding achievement and merit of the highest degree, receiving the post-nominal designation C.B.H.F.
"Each of these six outstanding individuals to be inducted as our 30th Annual Laureate Class of 2008 has made a significant and valuable contribution to the Canadian business community, the country's economy and quality of life in Canada," said Mr. Frank McKenna, Deputy Chair, TD Bank Financial Group and Chancellor to the Canadian Business Hall of Fame. "It is my great pleasure to announce these exceptional Canadians as Inductees for their past achievements as well as the legacy they have created for future generations of aspiring young business leaders."
"Canada's competitiveness and prosperity in the global market requires a united front of both present and future leaders to define the vision of growth and sustainability." said Jos Wintermans, Chairman and CEO of Cygnal Technologies and JA Canada Foundation Chairman. "The Canadian Business Hall of Fame serves the business community to help bridge the skills gap and be a part of the solution to emerging workforce challenges due to the retiring Baby Boom generation."
The Canadian Business Hall of Fame was established by Junior Achievement of Canada in 1979. Laureates are nominated by their peers and are chosen by an independent selection committee representing Canada's foremost business, academic and media institutions.
The new Hall of Fame members will each be formally inducted into the Canadian Business Hall of Fame at the 2008 Induction Ceremonies & Gala Dinner in Toronto on May 6th at the Metro Toronto Convention Centre. Tickets for Canada's premier business event are available by contacting Aurelia Karasiejus of The Canadian Business Hall of Fame at 416-622-4602 ext. 221 or akarasiejus@cbhof.ca. Additional information is available at www.cbhof.ca.
Proceeds from this gala ensure that Junior Achievement remains a recognized leader in the delivery of business education programs for young people in Canada. Annually, over 220,000 students experience Junior Achievement programs, free of charge, thanks to the generous contributions of businesses and individuals.
|
Enhancing Value of the Family Owned Business
For Its Investors and the Next Generation
TORONTO - With annual sales well in excess of $1 trillion and employing over 6 million workers, the family-owned business is arguably the backbone of the Canadian economy. However, 27% of Canada's family business leaders will retire within the next 5 years, a further 29% in the following 5 years. Surprisingly, only 44% of these businesses have an exit strategy and only 29%, a succession plan. Experts predict that only a third will survive to the next generation, merely 10% beyond that.
Can the business survive without a trusted family member positioned to
take it over? Can the enterprise overcome feuding or untalented offspring at
the helm? What other options exist?
Conference Title: The Canadian Institute's Symposium on Enhancing
Value of the Family Owned Business
Date: January 14 & 15, 2008
Location: Sutton Place Hotel, Toronto
Conference Co-chairs: Brent S. Belzberg, Senior Managing Partner,
TorQuest Partners Inc.
Mark C. Shoniker, Senior Director and Group
Head, BMO Business
Finance, Bank of Montreal
Get critical information on:
- Cutting edge estate and tax planning strategies for the family-owned
business
- Key valuation considerations when assessing the financial statements
of the family-owned business
- Business and legal issues in selling the family-owned business
- Looking beyond the business dispute and mediating inter-generational
disputes
- Recent case law in estates litigation involving family-owned
businesses
|
Toronto's New Food Business Incubator
A Recipe for Success
TORONTO - Entrepreneurs who dream of starting their own food processing businesses are one step closer to making their dreams a reality thanks to a new Toronto Food Business Incubator (TFBI) launched November 15, 2007. The facility will help to establish new food companies to stimulate job creation and help commercialize innovative new food products in Toronto.
Toronto is one of North America's largest food processing manufacturing
centres and provides employment for over 50,000 people in the food sector. The
TFBI will enable entrepreneurs to start their own food processing businesses
and take advantage of new trends by creating food products that are locally
developed and processed. The facility, which is open to qualified individuals
in Ontario will also help bridge the gap between the rural farming community
and the urban centre as well as serving the growing appetite of Toronto's
increasingly multicultural and diverse population.
"Toronto's cultural mosaic enlivens all facets of city life," said
Councillor Kyle Rae, Chair of the City's Economic Development Committee. "The
introduction of a Toronto Food Business Incubator will provide entrepreneurs
and newcomers with an opportunity to develop and commercialize their food
concepts into successful businesses."
The TFBI's new 2,000 sq ft. facility provides a range of commercial food
processing and packaging equipment. TFBI Members are instructed on food
safety, equipment, business skills training and mentorship. The TFBI concept,
which is Stage One of a larger food processing commercialization centre, has
been in development for several years. The TFBI is a non-profit organization
with a volunteer board of directors comprised of experienced food industry
executives.
"Our Board is very excited to launch the TFBI," said Barbara Shopland,
TFBI Chair. "The TFBI will act as a catalyst to help satisfy the burgeoning
demand for new food products and tastes. We're delighted with the support
we've received to date and we're approaching others who want to become
involved. Everyone is working hard to see this project come to fruition
because the benefits will be long-term."
Entrepreneurs interested in starting food businesses become TFBI Members
following the completion of a rigorous application process and review. Members
are charged a one-time membership and hourly rental fees to help offset the
TFBI's operational costs. The TFBI facility can accommodate up to nine members
at any one time. Members are able to participate in the program for up to a
maximum of three years.
"The goal of the TFBI is to help establish new food businesses in
Toronto," said Heather MacDonald, TFBI General Manager. "We're here to ensure
serious entrepreneurs are given the right opportunity and the right
ingredients to develop successful businesses. Everyone is different, with
unique needs, product ideas and concepts. The key is to provide them with
sound business advice and the equipment to commercialize their home-made
recipes for the Toronto marketplace and beyond."
|
Corporate Boards Increasingly Driving Enterprise Risk Management
Study by The Conference Board Shows More Work Needs to Be Done; North America Lagging in ERM Implementation
USA - More corporate boards are driving enterprise risk management (ERM), but despite progress, ERM has yet to become embedded in most companies’ day-to-day activities, according to a report released November 14, 2007 by The Conference Board.
The report, sponsored by Oliver Wyman, a leading global management consultancy, is based on a survey of risk, audit, and finance executives of 200 companies from a range of sectors including manufacturing, financial services, healthcare, energy/utilities, wholesale/retail, communications/transportation/warehousing, and business/professional services.
Fifty-five percent of the survey participants indicate that their corporate boards are a top driver of their enterprise risk management program, up from 49 percent two years ago.
Still, ERM, a strategic method of understanding and managing risks, is not being integrated in corporate cultures. The progress has been mainly in early stage efforts, such as creating a risk inventory and assessment process. As such, key ERM benefits in managing the overall corporate risk profile and portfolio have not yet accrued in most companies.
The Conference Board survey, conducted over 2006 and 2007, was designed to update its own 2004 survey on ERM (of 271 companies). Latest results show that, almost universally, there is greater awareness of risk across companies.
Executives now report that the top of the organization is far more interested in ERM than previously. While CEOs in particular are slightly less certain than in 2004 that ERM is crucial to performing their own role, this result could be partly due to many CEOs delegating risk management responsibility to chief risk officers and other high-level executives.
.. Executives surveyed indicate that in 2006, 34 percent of their corporate boards, up from 29 percent in 2004, believe that ERM is significant or highly significant in carrying out their stewardship roles.
.. There are substantial differences in ERM maturity across industries: financial services, energy, and utilities have more developed ERM processes than other industries. However, there has been rapid growth in ERM in the healthcare sector over the past years.
.. Companies that are outside of North America have developed processes at a faster pace and have a higher rate that are up and running.
.. Implementing ERM in a company generally takes three to five years. And companies often find they start and restart crafting an ERM framework that is viable for their particular organizations.
.. Among core business functions (e.g. legal, CFO, CEO, Board), there is general agreement on the importance of ERM; nearly 1/3 of each of these functions consider ERM to be of critical importance to their business.
“Once adopted and implemented broadly throughout the firm, ERM becomes truly part of how companies do business,” says Ellen Hexter, head of The Conference Board Enterprise Risk Management Center and author of the report. “The goal is to create greater awareness of risk and reward tradeoffs, and to drive risk thinking and appropriate risk management throughout businesses. Ownership is a critical operational and cultural component to enterprise risk management. When risks are identified and assigned to individuals, there is likely to be greater accountability for each risk and greater understanding of how any specific risk impacts a business.” |
Nevada Ranks 2nd in National Study for Entrepreneurship State Policy Climates
Carson City, NV-- Nevada ranked second in the Small Business & Entrepreneurship Council's 12th annual ranking of states according to their public policy climates for small business and entrepreneurship in the "Small Business Survival Index 2007."
Nevada ranked behind South Dakota and in front of Wyoming, Washington and Florida in the study released this month according to the Nevada Commission on Economic Development (NCED).
The index is designed to help political leaders and policymakers understand whether their state truly has an environment that helps entrepreneurship and small business growth.
"This report provides outside, unbiased acknowledgement of Nevada’s business friendly environment," said NCED Executive Director Tim Rubald. "It provides us with another tool when we're talking companies that considering moving their operations to Nevada."
According to the SBE Council, the study has been expanded again this year. It includes taxes, various regulatory costs, government spending, property rights, health care, energy costs and more.
The 2007 Index considers 31 major government-imposed or government related costs affecting small businesses and entrepreneurs. Those costs are added together for an overall rating. The entire report is available at http://www.sbecouncil.org.
This report is considered one of the most comprehensive gauges available of how state and local policymakers treat businesses.
Nevada has held onto its second place ranking for the past four years. It continues to rank well above other western states.
|
2007 |
2006 |
2005 |
2004 |
| Nevada |
2 |
2 |
2 |
2 |
| Arizona |
15 |
15 |
17 |
17 |
| Hawaii |
42 |
44 |
46 |
49 |
| California |
49 |
49 |
50 |
50 |
While countless issues play into the decision-making that goes into business location and investment, public policy plays a vital role. Government costs impact where people live and work and where they seek opportunity.
The top 25 states in the 2007 SBSI had population growth of 8.2% over the research period. That was almost double the growth of the bottom 26 states which registered only 4.1% population growth.
People go where the jobs are and job growth has occurred faster in the states at the top half of the study.
The Nevada Commission on Economic Development is the state agency providing services, support and assistance to communities. NCED helps communities diversify and develop their economies so they remain viable. For more information on the NCED visit www.expand2nevada.com
|
Canadian Family Enterprises Urged to Embrace Innovation and Diversification
Canada's primary business ownership model is fundamentally sound, but
needs to embrace new technologies, innovation and client diversification,
according to comprehensive Grant Thornton LLP report.
THUNDER BAY, ON - At a time when foreign ownership of the nation's businesses is a growing issue, many Canadians would be surprised to learn that the vast majority of businesses in the country remain privately-owned family enterprises. The most comprehensive report to date to focus exclusively on mid-market Canadian family enterprises, The Grant Thornton Family Enterprise Insights 2007 report found that mid-sized family enterprises remain fundamentally sound. The report is based on findings from The 2007 Grant Thornton Family Enterprise Survey, whereby business owners and senior executives were interviewed at 201 mid-sized ($15M-$500M) private family enterprises.
Family enterprises represent a major force in Canada's business
landscape. In their 1998 article, "Securing the Future of the Family
Enterprise: A Model of Offspring Intentions to Join the Business," appearing
in Entrepreneurship Theory and Practice, Stavrou and Swiercz present data that
family owned enterprises represent 80% of the nation's businesses, making
their influence on the economy indisputable. As these businesses continue to
thrive, so do the employment opportunities for a vast number of Canadian
workers.
"Mid-sized family enterprises in Canada are optimistic about their
prospects for the coming fiscal year," said Jim Mills, a Vancouver-based
partner with Grant Thornton and the firm's national leader of family
enterprise. "Sixty-seven percent of those we surveyed feel positive about the
overall national economic climate, and 64% expect revenues to climb or remain
constant. Eighty-seven percent expect profitability to remain constant or
increase, and 92% say they will add to or maintain their current workforce."
Despite the signs of strength, optimism and health, the report suggests
that mid-sized family enterprises in Canada lag behind other sectors in
diversification of their client bases and in investing in new technology, and
in innovations in operations and management.
Half of the surveyed companies intend to increase their investment in
innovation next year. Among the family enterprises that own their buildings,
six-in-ten do not plan on changing their level of investment in new buildings,
and half of those owning plants and/or machinery have no plans to increase
investment in either.
Mid-sized family enterprises excel at building strong locally based
clients that can result in the risk of over reliance on a few key
relationships. An insight from the Grant Thornton report is that mid-sized
family enterprises need to embrace the strategy of client diversification
complementing locally based clients with expansion into new market areas for
continued success and reduced risk.
Kim Toskovich, a Principal specializing in tax services with Grant
Thornton's Thunder Bay office, noted that this doesn't necessarily mean a
complete change away from the family enterprise's traditional client pool.
"The relationship-based model can serve family enterprises well in that the
loyalty of a small, personally-grown customer base can, to some degree, proof
businesses against many normal business risks. The downside is that the
biggest risk then becomes the loss of the key client/friend who cannot be
immediately and easily replaced."
The Grant Thornton Family Enterprise Insights 2007 report also found that
long-term planning is required to deal with the potential sudden loss of
customers, key suppliers and personnel.
Family enterprises are not immune to the staff pressures faced by
Canadian businesses at large. Half of the respondents selected "lack of
skilled workforce" as a constraint to their business growth, more than for any
other issue.
"We are pleased to report that our survey also determined that mid-sized
family enterprises have taken some necessary steps in succession planning,
which is a key concern among Canadian businesses at large," Mr. Mills said.
"Two-thirds of the respondents in our survey have a formalized, documented
succession plan in the legal and financial sense as compared to about half of
mid-sized non-family held enterprises as a whole."
|
Top student entrepreneurs gather at Toronto conference
TORONTO - Close to 500 of Canada's brightest future leaders will gather at the Sheraton Hotel in Toronto this weekend for the annual two-day Impact Leadership Conference.
The conference is being offered by the Impact Entrepreneurship Group, which aims to help students learn about entrepreneurship, innovation and leadership outside the classroom. It was founded at the University of Waterloo three years ago and has become one of Canada's largest student-run entrepreneurship organizations.
"It has been great to be involved with Impact because as an organization it offers the ideal vehicle to kindle entrepreneurial flame in these young leaders of tomorrow," says UW president David Johnston, a founding member of the Impact advisory board. "These young people will be instrumental in helping to keep Canada competitive in the future."
Founder of the group, Kunal Gupta, a fourth-year UW software engineering student, says the group has enjoyed great success in part because it has received solid support from UW and its industry partners. It now employs co-op students to help run its events.
"There is now a team of about 100 students centrally involved in Impact, and now we've become students who hire students," says Impact president, Albert Lam, a third-year UW economics student.
The flagship leadership conference this weekend will examine 21st century business skills, innovation and the role of entrepreneurship in shaping Canada's economic future.
A number of successful executives will share their knowledge with the student participants. They include Michael Lee-Chin, chairman of Portland Holdings and a recent $30-million donor to the Royal Ontario Museum. Lee-Chin will address about 800 guests at Impact's industry banquet on Nov. 9 at the Westin Harbour Castle.
The future leaders will also learn about helping others and giving back to society during a talk on social entrepreneurship by Nobel Prize nominee Craig Kielburger. Kielburger is the founder of Free The Children, which will benefit from a charity auction at the conference.
Title sponsor of the event is the Business Development Bank of Canada (BDC). Other support and sponsorship is being provided by The Canadian Youth Business Foundation, Deloitte, the Government of Ontario, IBM Canada, Infusion Development, Mastercard, the Ontario Centres of Excellence, Research in Motion (RIM), UW and the university's Centre for Business, Entrepreneurship and Technology (CBET).
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Top student leaders and entrepreneurs coming together to build a better Canada
TORONTO - Today's youth are bringing new perspectives and approaches to business that will improve Canada's competitiveness in the global economy. Influential business leaders and entrepreneurs are getting a first-hand glimpse at some of Canada's future leaders at this year's Impact Leadership Conference presented by the Business Development Bank of Canada (BDC). Impact will be hosting 500 student leaders and young entrepreneurs from over 70 high schools, colleges and universities from across Canada in Toronto on November 9th and 10th.
"Today's businesses compete in an increasingly complex environment, where
many of the challenges of the global marketplace, including technological
advances, emerging economies, and access to skilled labour, can also represent
significant opportunities," says Michel Bergeron, Vice-President Corporate
Relations of BDC. "Supporting Impact is a natural fit for BDC. Encouraging
entrepreneurship to youth early will lead to a more knowledge-based and
innovation-driven environment in Canada".
Internationally renowned entrepreneurs, such as Michael Lee-Chin,
Chairman of Portland Holdings and recent $30 million donor to the Royal
Ontario Museum, will be sharing their time, experiences and advice with this
esteemed group of student leaders. Today's youth acknowledge their
responsibility to give back and are starting early. The event is supporting
Free The Children through a charity auction and social entrepreneurship will
be the theme of Nobel Peace Prize nominee and Free The Children founder Craig
Kielburger's talk.
"We are pleased to partner with BDC to host this year's conference, where
student leaders and young entrepreneurs will have the opportunity to network,
learn and share ideas on how to better position themselves and their ventures
to succeed in the future", says Kunal Gupta, Founder and Chair of the Impact
Entrepreneurship Group. "The conference is one of many programs run by Impact,
which has grown into one of Canada's largest student entrepreneurship
organizations in a few short years".
BDC is the Title Partner for the event. The conference is also being
supported by: the Canadian Youth Business Foundation, Deloitte, the Government
of Ontario, IBM, Infusion Development, MasterCard, the Ontario Centres of
Excellence, Research In Motion and the University of Waterloo.
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Karem Kalin, of Smiles Made Easy voted one of Canada's top ten Mompreneurs
Out of more than 400 mom run businesses, Karem Kalin, owner of Smiles Made Easy, has been
voted one of Canada's top ten Mompreneurs™. The Savvymom award celebrates great ideas
and innovative solutions developed by Canadian moms.
Kitchener – Smiles Made Easy was founded by local mom Karem Kalin in 2003, when her first son was just 1 year old. Kalin has created an award winning line of note cards that prompt senders to complete thoughts like "Can you believe we...", "I have fun when we...", and "You're a great...". The cards can be made inspiring, reminiscent, romantic or just plain goofy. "Too often we think we need to buy someone the 'perfect material gift', when what we really need to do is tell them why they're so special to us in the first place", says Kalin. Thought cards make it simple and stylish to do just that.
Smiles Made Easy has moved from a kitchen table operation to a hot and growing business.
In only 4 years, Smiles Made Easy can be found in stores nationwide, has won the 2006
Best Product from iParenting Media, has been featured in over 50 media spots including
Canadian Living and Breakfast Television, and was selected for the Primetime Emmy gift
bag.
"Being voted one of Canada's top ten mom entrepreneurs is an extreme honour" says Kalin.
"It means even more since the votes came from the public. To be ranked with such
wonderful and successful businesses really validates my business and is a fantastic
recognition of the hard work that I've put into Smiles Made Easy".
The award program was developed by SavvyMom Media to recognize the Mompreneur movement in
Canada, and the growing force of mom entrepreneurs, characterized by their unique
business ideas, drive to start their own businesses and the challenge of balancing that
drive with the demands of motherhood and looking after a family.
Top Ten companies include; ABA Educational Resources, Fit4Two, FitMom, Mabel's Labels,
Mally Bibs, Name Your Tune, Sensational Suppers, Smiles Made Easy, Wee Hands, Wee Piggies
and Paws.
Smiles Made Easy thought cards can be found in stores nationwide or online at
www.smilesmadeeasy.com. The cards are available in 5 themes: I Love it When..., Remember
When..., You're a Great Mom because…, I Have Fun When..., and I am Proud When.... Each
theme has 15 note cards, each with a different 'starter thought', and envelopes and is
packaged in a small colourful hinged tin. A single tin costs $8.99.
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Community Developer and Builder is Canada's Entrepreneur Of The Year
Mattamy Corporation CEO Peter E. Gilgan Named Ernst & Young Entrepreneur
Of The Year(R) 2007
TORONTO - Peter E. Gilgan, CEO of the Mattamy Corporation, was presented with the Ernst & Young Entrepreneur Of The Year 2007 Award tonight, at a gala presentation in Toronto. The award ceremony, known as Canada's most prestigious of the business world, brought together many of the country's most esteemed business leaders. Top regional entrepreneurs and four special citation recipients were also recognized at the premier business event.
"Mr. Gilgan's ability to see opportunities and gaps in the marketplace,
while meeting the needs of his customers, reflects his exceptional leadership
and innovation," said Dan Cornacchia, national director of the Entrepreneur Of
The Year Awards program. "As a determined entrepreneur and passionate
philanthropist, he remains committed to the social development of the
communities his company touches. He is an inspiration to many and we are very
proud to present him with this prestigious award."
A true leader, Mr. Gilgan brings personal and professional skill sets to
the operation of the Mattamy Corporation. He brought the New Urbanism concepts
into his trademarked WideLot(TM) building and planning principles. Able to
connect with people on a personal level, he has a fierce determination to
satisfy homeowners-the hallmarks of Mattamy Homes. The culture of his business
is one of drive for achievement with an openness to learn new approaches and
processes.
The results of these efforts have garnered Mattamy Homes numerous
pinnacle Homebuilder of the Year awards, from associations including the
Greater Toronto Home Builders' Association (2007) and the Ontario Home
Builders' Association (2006), as well as specific awards, such as Community of
the Year and Project of the Year for Hawthorne Village in Milton, and Project
of the Year for Watercolours in Lorne Park. As well, homeowners placed Mattamy
Homes number one in total homeowner satisfaction in the 2007 J.D. Power survey
for the Greater Toronto Area.
As the Canadian Entrepreneur Of The Year, Mr. Gilgan will compete with
top entrepreneurs from over 40 countries for the title of World Entrepreneur
Of The Year(R). The coveted international honour will be announced in June
2008.
Also honoured at tonight's evening celebration were the other Ernst &
Young Entrepreneur Of The Year 2007 regional recipients:
PACIFIC
Lukas Lundin, The Lundin Group of Companies, Vancouver, BC
A leader in identifying global investment opportunities in the natural
resource sector, The Lundin Group of Companies' uninhibited pursuit of
highly prospective properties has led to the development of world-class
ore deposits and oil and gas fields.
PRAIRIES
Louie Tolaini, TransX Group of Companies, Winnipeg, Manitoba
TransX Group of Companies is Canada's largest privately owned
transportation company, and one of North America's top-50 carriers by
revenue.
QUEBEC
Andrew Lutfy, Groupe Dynamite Inc, Mount Royal, Québec
Groupe Dynamite is a privately held company operating more than 240
women's retail stores across the country under the banners Dynamite and
Garage.
ATLANTIC
Glenn Cooke, Cooke Aquaculture, Blacks Harbour, New Brunswick
Established as a small family business more than 20 years ago, Cooke
Aquaculture has evolved into the largest fully integrated and independent
salmon farming company in North America.
Many regional award recipients merit special mention for demonstrating
high levels of achievement and success in particular aspects of their
business. Our national judges have selected recipients in four categories in
recognition of their unique embodiment of entrepreneurial values. The
Entrepreneur Of The Year Special Citation Recipients for 2007 are:
INDUSTRY INNOVATOR
Jeff McIntosh, Canadian Global Air Ambulance, Winnipeg, Manitoba
Canadian Global Air Ambulance provides aeromedical solutions for private
individuals, the insurance industry and government organizations across
Canada and around the world.
PRODUCT AND MARKETING EXCELLENCE
Randi Shinder, Fusion Brands Inc., Ottawa, Ontario
Fusion Brands creates innovative cosmetics and fragrance products that
provide smart alternatives for the savvy beauty customer in the prestige
and mass markets.
INNOVATIVE SERVICES
Jean-Pierre Sauriol, Dessau-Soprin Inc., Laval, Québec
Founded in 1957, Dessau is one of Canada's largest engineering-
construction companies, active in both national and international
markets. The outstanding know-how of its experts allows the firm to
consult and operate in both the private and public sectors.
RETAILING EXCELLENCE
Richard Calder, Charm Diamond Centres, Dartmouth, Nova Scotia
Charm Diamond Centres is the largest independently owned Canadian
jewellery company, providing quality merchandise and service in over 60
stores across the country.
Two exceptional Canadian entrepreneurs were also recognized with Lifetime
Achievement Awards this year. Recipients of this special honour are:
ATLANTIC
Graham Dennis, The Halifax Herald Limited, Halifax, Nova Scotia
After almost 54-years as publisher of The Halifax Herald Limited, Mr.
Dennis is Canada's longest-serving and eldest publisher. From carrier to
publisher, he has been exposed to all departments and aspects of the
family business. After the death of Mr. Dennis's father, Senator William
Henry Dennis, in 1954, he assumed the role of publisher, where he has
remained to this date.
ONTARIO
G. Wallace F. McCain, Maple Leaf Foods Inc., Toronto, Ontario
Mr. McCain co-founded McCain Foods Limited in 1956, which has grown into
one of the largest frozen food companies in the world. He was president
and co-chief executive officer of McCain Foods Limited until 1995, and is
currently chairman of the board of Maple Leaf Foods Inc., and vice
chairman and director of other associated companies within the McCain
Foods Group.
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. This year's national judging
panel included the following people:
Susan Gallacher, DirectCash Management Inc.
Terry Lyons, Northgate Minerals Corporation
Jean-Marc Leboeuf, Le Groupe Créatech
Karen Oldfield, Halifax Port Authority
Sue Paish, Pharmasave Drugs (National) Limited
John Rothschild, Prime Restaurant Holdings Inc.
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, Roynat Capital and SAP. To
learn more about the Ernst & Young Entrepreneur Of The Year 2007 Awards, visit
www.eoy.ca.
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Q3 Small Business Research Board Canada Key Issues Report: Taxes Greatest Concern of Small Businesses During Third Quarter Says Latest SBRB Report; Finding Quality Employees, General Economy, Materials Costs Also Among Top Five Issues
Study indicates fewer businesses are considering expansion next 12 to 24
months.
TORONTO - The Small Business Research Board (SBRB)
reported today that taxes were the greatest concern of small business owners
and managers in Canada during the third quarter of 2007.
Of the respondents to the quarterly poll completed in conjunction with
Integrated Business Analysis (IBA) based here, 25% ranked taxes as their
biggest concern,
Finding quality employees was the second most significant issue during
the third quarter, with 18% of the participants indicating that it was their
most problematic concern. General economic conditions and the cost of
materials tied for third in the rankings of issues the owners and managers
believed has the greatest impact on their businesses. Interest rate concerns
finished fifth among the poll of more than 150 businesses.
The SBRB recently established a Canadian Small Business Confidence Index
(SBCI). The initial index of 45 denotes opinions and projections about
business confidence. The strength of the economy, revenues and hiring looking
forward 12 months are the three key ingredients to determining the SBCI and
providing the basis for these quarterly and annual comparisons.
The universe of participants is developed from among small businesses
across Canada. The SBRB study is a voluntary survey conducted via direct
telephone contact. Had the SBRB established an SBCI as a result of the initial
results generated from the previous study completed during the second quarter,
the SBCI would have been set at 44.
"Small businesses in Canada are sensitive to the impact of taxes on their
operations and understand the necessity to maintain strict diligence when
managing such matters. In addition, the owners and managers must respond
quickly when contending with the enacting of new tax laws," said Gregg M.
Steinberg, President of IBA.
Fewer small businesses in Canada are considering expansion. During the
third quarter, 27% said they are planning to expand their businesses during
the next 12 to 24 months. That represented a decline from the 34% who said
they were planning business expansion when asked during a similar second
quarter 2007 survey.
The Small Business Research Board ascertains and reports the opinions of
small business owners and managers on a wide variety of topics related to
their own businesses as well as national and international issues that may
impact their operations. The SBRB conducts these studies for the benefit of
small business owners and managers. The SBRB also provides opportunities for
third parties to gain real time insight into the attitudes of small businesses
nationwide through the independently conducted research.
The SBRB, based in Northfield, Il., has conducted similar quarterly
studies in the U. S. since 2004. The latest information about the Small
Business Research Board can be found at www.biznus.net/iba.
Integrated Business Analysis, Inc. (IBA) along with affiliate companies
is the largest privately-held provider of management consulting services to
small and medium-size businesses in North America. The more than 1,800
professionals in North America offer a wide range of proven and innovative
methodologies to help businesses grow and prosper regardless of the economic
cycle. IBA either provides directly or through its affiliated companies a
comprehensive array of business advisory services, tax and estate planning
services or merger, acquisition and other financial advisory services in
Canada and the United States.
Small Business Research Board Canada Third Quarter 2007 Issues
<<
Issues having greatest impact on business
1. Taxes
2. Finding quality employees
3. Economic conditions
4. Cost of materials
5. Interest Rates
Plans for expanding business next 12 to 24 months
Yes 27%
No 73%
Of those planning expansion
1. 20% will expand at current locations
2. 19% will add new products
3. 19% will add locations 8% will enhance customer service
4. 17% will provide more services
5. 10% other
6. 8% will enhance customer service 6% will do so through
acquisition
7. 6% will do so through acquisition
Plans for improving productivity
1. Improve staff training
2. Add staff
T-3. Add automation or technology
T-3. Improve existing automated systems
5. Implement or enhance employee incentive
programs
>>
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TOP STUDENT LEADERS AND ENTREPRENEURS COMING TOGETHER TO MAKE AN IMPACT
The topics of entrepreneurship, leadership and innovation will be discussed by Canada’s top 500 young minds with business leaders at the annual Impact Leadership Conference in Toronto.
TORONTO - Canada’s largest student entrepreneurship conference is attracting 500 student leaders and young entrepreneurs from over 70 high schools, colleges and universities across Canada. All of the participants are youth leaders who have had significant accomplishments already, and they will have the opportunity to network, compete, share and learn during this weekend-long conference on November 9th and 10th.
Internationally renowned entrepreneurs will be sharing their time, experiences and advice with Canada’s future leaders. Michael Lee-Chin, Chairman of AIC Limited and recent $30 million donor to the Royal Ontario Museum, will be addressing an audience of 800 young entrepreneurs, student leaders and industry guests at the Impact Banquet on November 9th at the Westin Harbour Castle in Toronto.
The themes of entrepreneurship, leadership and innovation will be discussed by an impressive A-list speaker line-up filled with founders and CEOs of small and large organizations. Social entrepreneurship will be the topic of Nobel Peace Prize nominee and Free The Children founder Craig Kielburger and there is also a charity silent auction in support of Free The Children.
The students running the Impact organization are all young entrepreneurs themselves. “What was meant to be a one-time conference on youth entrepreneurship has now grown to become Canada’s largest student entrepreneurship group in three short years”, says Kunal Gupta, Founder and Chair of the Impact Entrepreneurship Group, “Impact now runs programs nationwide engaging over 5,000 students annually and you can expect that number to keep growing exponentially in the next few years”.
The Business Development Bank of Canada (BDC) has provided generous support as the Title Partner for the event. In addition to BDC, the conference is being supported by a diverse group of Partners including the Canadian Youth Business Foundation, Deloitte, the Government of Ontario, IBM, Infusion Development, MasterCard, Ontario Centres of Excellence, Research in Motion and the University of Waterloo.
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CFIB - Offers Free Webcast on Disease Transmission Prevention in the workplace, Canadian Red Cross to Members:
With so many issues challenging independent business, why risk adding something as simple as a flu to your heart ache. As flu season is on the door step, the Canadian Red Cross has approached CFIB to offer our members a unique "Introduction to Preventing Disease Transmission" seminar. Recognizing that you are busy running your businesses, the Canadian Red Cross is offering a FREE Webcast on November 7th at 2pm EST. If you would like details, or to register, click the link below. If you have questions specific to the Webcast, you can contact the Canadian Red Cross at: 1 877 356-3226.
http://www.cfib.ca/pdfs/CRCwebcast_invite_CFIB_EN.pdf
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Getting the Deal Done: Unlocking Innovation from Within Canadian Universities
TORONTO - Five young Canadians from the Action Canada program, a national fellowship for young leaders, released recommendations on how intellectual property from Canadian universities can be unlocked to bring new ideas and companies to market to make Canada a world leader in innovation.
"University inventions have the potential to improve our health and
safety, protect our environment, and make our businesses more productive and
competitive," said task force member Sana Halwani. "We are seriously
underperforming and this problem must be addressed."
The report presents 10 recommendations aimed at making technology
transfer a priority, improving speed of innovation going to market, and
ensuring proper investment in commercialization at Canadian universities. The
full report can be found at www.innovation-action.ca in both English and
French.
In May 2007, the Government of Canada launched its Science and Technology
Strategy, highlighting the importance of research and development to the
economic growth of Canada. The Action Canada task force study urges Canadian
policy-makers to take action before Canada slips further behind in the race to
a knowledge economy.
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World Bank Forges Links with Socially Responsible Investors
The World Bank raises between US$10 billion and US$15 billion annually on the international capital markets for development projects around the world.
Now it's reaching out to a special segment of the market – investors with environmental and other social goals.
Private investors now can buy World Bank bonds through two European banks and also support green technology, environmentally friendly development, and anti-poverty programs.
October 24, 2007—World Bank Treasurer Kenneth Lay remembers when his financially conservative grandfather owned World Bank bonds.
In those days, the World Bank soft-pedaled the fact its lending portfolio consisted of exposure to poor countries, and its main mission was to alleviate poverty. Instead, it worked on building confidence in the kind of institution worthy of a coveted triple-A rating.
“It’s not too much of a stretch to say we downplayed what was actually done with the money,” says Lay. “We emphasized the fact we kept very large reserves and were essentially backed by wealthy country governments.”
Today, the World Bank’s approach to investors is very different.
The World Bank is reaching out to a rapidly growing segment of the investor community – the socially responsible investor—to offer opportunities of investing in development as part of the World Bank’s annual funding program.
The World Bank raises between US$10 billion and $15 billion annually through International Bank for Reconstruction and Development (IBRD) bonds launched in the international capital markets. IBRD bonds have been available through brokers or financial intermediaries active in the capital markets for the last 60 years. The bonds have funded some 600 projects in over 100 countries around the world in the last few years, says Lay.
Socially responsible or sustainable investing integrates social, environmental and other criteria into investment decisions. Such investors want to support companies and organizations aligned with their own personal beliefs or standards, or avoid investing in entities whose practices they disagree with. Many believe that incorporating environmental, social and governance criteria in their investment decisions will help them find better financial investment opportunities.
“People are beginning to pay attention to what use is going to be made of their money, and they’re prepared to assign value to that,” Lay says.
The trend toward sustainable investing holds true not just for equity investors, but also for bond investors, such as those who buy IBRD bonds, says Heike Reichelt, Head of Investor Relations and New Products for the World Bank Treasury.
In response, the World Bank has stepped up efforts especially in the last three years to deliver development messages to investors in Europe and Japan, she says.
The World Bank’s Treasury department has teamed up with other parts of the World Bank, especially the sustainable development network and communication and country units, to highlight environmental and development achievements in the Bank’s member countries, says Reichelt. And the World Bank also played a key role last year in launching bonds to fund immunizations in developing countries on behalf of the International Finance Facility for Immunization (IFFIm), for which it is the Treasury Manager.
“We’re beginning to monetize the World Bank’s good works,” says Lay.
Partnering with Banks and Investors
This fall, the World Bank partnered with two European banks to issue bonds designed to appeal to private investors who want to support green technology, environmentally friendly development, and anti-poverty programs, and earn a good return at the same time.
ABN-AMRO sold about 150 million euro of World Bank Eco 3Plus bonds within a month of their launch September 17. (See related story.)
The World Bank is also issuing 250 million euro in bonds through DekaBank to clients of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe) to finance World Bank sustainable development projects. The one-year notes are available at 16,000 Sparkassen branches across Germany until November 2 and have a guaranteed coupon of 3.85 percent.
The World Bank teamed up with La Banque Postale, the French postal system, in 2005 to offer a new investment product for French retail investors to help fund, and have direct information on, the World Bank’s programs in developing countries.
The World Bank has a long history as a socially responsible investment in Japan, says World Bank Capital Markets Director Doris Herrera-Pol. Most recently, the World Bank launched the “World Supporter” fund, created by Nikko AM, in Tokyo in June this year. The fund offers Japanese investors an opportunity to participate in a diversified emerging market investment portfolio supporting the mission of the World Bank. Part of the management fees from fund transactions will also be donated to a development cause.
“In Japan, we are a staple among fixed income products for retail investors,” says Herrera-Pol. “And those retail investors in Japan have always considered the World Bank as a socially responsible investment.”
In a boost to the World Bank’s standing among socially responsible investors in Europe and North America, where the World Bank has endured criticism from interest groups, the influential Calvert, a leader in socially and environmentally responsible investing, decided in July to allow its socially screened products to buy World Bank bonds. The decision followed an extensive review of the World Bank’s policies and practices on human rights, Indigenous Peoples rights, and gender issues, according to Calvert.
“I was very impressed with the degree of due diligence and their open-mindedness,” says Lay. “Calvert has, I think, very properly taken a sophisticated look at the complexity and context in which we have to work.”
“These are people whose profession calls on them to make judgments about the public purposes for which we and many others who are participants in the financial markets conduct our business. And for that body of people whose profession it is to make those judgments to come to the conclusion we are aligned with them with respect to those public purposes, that’s a very important signaling. We look forward to carry forward the dialogue with Calvert and other SRIs on key issues of common concern.”
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Impact Leadership Conference 2007
Featuring Michael Lee-Chin, self-made billionaire and recent $30M donor of Michael Lee-Chin Crystal at the Royal Ontario Museum.
Waterloo/Toronto - The Impact Leadership Conference is Canada's premier student leadership event engaging the top 500 students and young entrepreneurs across the country.
The two-day conference boasts an impressive line-up of leadership events from breakout speaker sessions, business case studies, exhibitions, a banquet dinner with 800 industry guests and keynote speakers. This year’s conference will feature speakers including, Michael Lee Chin, Chairman of AIC Limited and National Commercial Bank of Jamaica, Craig Kielburger, Founder of Free the Children, Greg Brill, CEO of Infusion Development and more.
The Impact Leadership Conference will run from 7:30am - 11:00pm on Friday, November 9th and Saturday, November 10th from 10:00am - 9:30pm. It will be held at two locations: the Sheraton Centre Hotel and the Westin Harbour Castle. For more details about the Impact Leadership Conference visit www.conference.impact.org
This event would not be possible without the generous support of our many sponsors, including the title sponsor- Business Development Bank of Canada, the Ontario Centre of Excellence, the Government of Ontario, IBM, MasterCard, the University of Waterloo, Infusion Development, Deloitte, Research in Motion, Fasken Martineau, the Centre for Business, Entrepreneurship and Technology, Bereskin & Parr, Certified General Accountants Ontario, James Perly Consulting Inc., Travel Cuts, Millennium Scholarships Foundation, NEXcell, FREEMAPS and Edward Jones.
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PwC survey reveals that youthful exuberance is winning the day with private companies in Canada
Toronto —, PricewaterhouseCoopers’ (PwC) 2007 Business Insights™ Survey reveals that Canada’s private companies continue to be confident and profitable despite the US economic slow down. And while this is good news, the survey also shows that the fastest growing companies are young, innovative and willing to take risks, painting a worrying picture for any business content with the status quo.
According to the survey of 420 Canadian private company leaders, the fastest growing companies are more likely to be under 10 years old and much less likely to be more than 20 years old. Furthermore, once companies have been operating for more than 50 years, they are more likely to show decreasing profits, top-line shrinkage and increasing pressure from competition.
But age isn’t the critical factor, it’s the tactics businesses are using at different stages of their life-cycle.. Companies with increasing profitability and top-line growth of more than 15% report they are participating in an innovative range of activities which are contributing to their success, including selling or sourcing overseas, generating revenues from new sectors, entering new markets or developing new products and having a significant percentage of staff working on innovation related projects. The survey also shows that once businesses have been established for more than 50 years, they are also most likely to report that they “do not innovate.”
“All companies would do well to take a closer look at the behaviours exhibited by the most successful companies and consider what they need to do to reinvigorate their business approach,” says Eric Andrew, PwC’s Private Company Services Canadian leader. “Business leaders concerned about what they may lose with higher risk ventures must also consider what they could lose by carrying on with business as usual.”
The Business Insights Survey also followed up on some key trends seen in previous reports and introduced new topics of discussion. These include:
Outlook
Confidence among private business leaders in Canada remains solid. Seventy-seven percent of respondents report they expect business to get “a lot or a little better” in the next twelve months.
The biggest change from 2006 was the drop in the number of Albertans reporting they expect business in the next 12 months to “get a lot better.” In 2006, 45% of respondents gave this response but in 2007 the figure has fallen to 26%.
Challenges
Labour is the primary challenge respondents expected to face in the next year but again there were wide regional differences. In Alberta 61% of respondents rank it as one of their three biggest challenges, which is down slightly from the 65% who cited it as a problem in the last twelve months. The spread of responses is more even in Ontario with labour, currency and the economy cited by a similar percentage of respondents.
Growth Strategies
For the third consecutive year, growth and expansion is the main strategy for Canadian companies. Overall, 75% of companies are striving for growth in the next 12 months up from 70% last year.
The survey shows that over 40% of respondents are looking to expand into new markets as a short- and medium-term strategy and half of all companies sell and/or source overseas. The number one reason for their overseas activity was to access a larger market for products and services.
Andrew adds, “Canada’s private companies, particularly those in the fastest growing and most successful groups, are leveraging international opportunities with good results.”
Corporate Social Responsibility (CSR)
The survey found that while 76% of respondents agree there’s a business benefit to having sustainable business practices, only one in three think the costs of sustainable operating practices outweigh the benefits. Only 16% are running a CSR program in their community, 62% don’t have a policy for sustainability and 43% don’t even consider it in their long-term planning. Finally 41% of respondents don’t think climate change will ever impact their company.
“Companies who are early adopters in addressing their environmental impacts can build Canada’s next competitive edge. The challenge for businesses is to find innovative ways to turn these forces to their advantage,” concludes Andrew.
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14 saluted as Ontario's best in business and export excellence
Linamar Corporation, Guelph wins Business Excellence Award, Desjardins Award for Large Business
TORONTO - Fourteen organizations from across the province have been named the best in business and export excellence in Ontario by the Ontario Chamber of Commerce (OCC).
In a combined presentation of the Ontario Business Achievement Awards
(OBAA) and the Ontario Global Traders Awards (OGTA), companies were recognized
for their outstanding leadership and contributions to the prosperity of the
province.
"Business success requires hard work, creativity and passion, with a
healthy dose of entrepreneurial spirit thrown in," says Len Crispino,
President and CEO of the OCC. "On this, our silver anniversary of the OBAA,
we're proud to be able to join our partner, the Ministry of Economic
Development and Trade, in recognizing organizations in Ontario that have
demonstrated these qualities, propelling them to the top in their industries,
and creating a model for other businesses to follow."
The 2007 OBAA and OGTA Winners are:
- Business Excellence Award, Desjardins Award for Large Business
- Linamar Corporation, Guelph
- Suncor Energy Products Inc., Sarnia
- Business Excellence Award, American Express Award for Small Business
- Silicon Knights, St Catharines
- Regal Tent Productions, Hamilton
- Corporate Governance Award
- Denison Mines, Toronto
- Innovation Technology Award
- Activplant Corporation, London
- Skills Development Award
- Toronto Community Housing Corporation
- Accessibility Award
- Seneca College of Applied Arts and Technology, Toronto
- OGTA Innovation Award - Export Growth, sponsored by RBC Royal Bank
- GOLD - Barrie Metals Group of Companies, Barrie
- SILVER - GPSNet Technologies Inc., Windsor
- BRONZE - Eco-Tec Inc., Pickering
- OGTA Market Expansion Award (Product or Service), sponsored by Export
Development Canada
- GOLD - Quickmill Inc., Peterborough
- SILVER - OZ Optics Ltd., Ottawa
- BRONZE - HLS Hardline Solutions Inc., Dowling
Detailed information about each of these winners, can be found at
www.occ.on.ca.
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