| In The News |
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Innovation can be small-scale: BDC chief tells firms to think in increments | |
Canada's productivity has been growing much more slowly than that of the United States for more than 20 years - just a little better than half that country's pace since 1989. Productivity, which measures how much value a worker produces in an hour, is not a gauge of how hard people work; it's an indication of how good a firm's equipment and management is. Without innovation, productivity suffers.
Improving innovative-ness and productivity could be easier than many believe. There's plenty of room to boost this country's performance through what Jean-René Halde, chief executive of the Business Development Bank of Canada calls "incremental innovation": while big, radical innovations are important, we too often forget that little, incremental innovations can make a big difference in how well a business succeeds. | |
Incremental innovation must be continual, the product of a day in / day out search for small improvements in how we serve customers, fill an empty product niche or put an existing technology to some new use. The key is to have a corporate culture that values innovation and permits reasonable risk-taking.
Government of Canada Supports New Research Opportunities for Canadian Businesses
Toronto, Ontario, February 24, 2011 - Up to five thousand young Canadian scientists will have an opportunity to work with small and medium sized businesses across the country over the next five years and put their research expertise to work in the private sector, thanks to an investment by the Government of Canada. The announcement was made by the Honourable Gary Goodyear, Minister of State (Science and Technology), while speaking at an international business innovation conference in Toronto.
"Science is key to Canada's future economic growth," said Minister Goodyear. "By bringing together Canadian businesses with young scientists and international partners, our government is helping to promote research and development in the private sector, leading to new jobs and opportunities for hard-working families, students and entrepreneurs across our country."
The minister also announced the renewal of an international agreement with Spain that will allow Canadian businesses to conduct important research and development in partnership with oversees companies.
Minister Goodyear was speaking at Innovation Across Borders, which is a two day conference organized by the National Research Council of Canada's Industrial Research Assistance Program, the Department of Foreign Affairs and International Trade, and MaRS Discovery District, a Toronto-based innovation centre.
At the conference, Minister Goodyear announced that two Networks of Centres of Excellence - MITACS and AUTO21 - have been selected from the 2011 Industrial Research and Development Internships competition to deliver the internship program. Together, they will be awarded a total of $34.4 million over five years to provide 1,000 internships each year in private sector firms.
More information about Innovation Across Borders is available at http://innovationacrossborders.marsdd.com.
Small Business Quarterly
The Small Business and Tourism Branch would like to inform you that the February 2011 issue of the Small Business Quarterly (SBQ) is now available on-line at the following address: http://www.ic.gc.ca/eic/site/sbrp-rppe.nsf/eng/h_rd02557.html
The feature article of the February issue highlights some of the findings from the Survey of Regulatory Compliance Costs, which quantifies the extent of the paperwork burden on the competitiveness of small and medium-sized businesses (SMEs) in Canada. This article reveals that in 2008 the average amount of time spent by SMEs complying with government regulations has decreased in all regions since 2005. Furthermore, total adjusted compliance costs in 2008 dropped by 2.8 percent from 2005 levels. Following the feature story is an article that discusses the findings of an entrepreneurship report recently released by the Business Development Bank of Canada (BDC). This issue also includes articles on job creation by firm size and province, the number of business locations by industry, self-employment figures by occupation, and exporting and financing activities of SMEs. | |
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Feeling the credit card squeeze on profits; Competition Bureau pushing to ease costs 'particularly harmful for small and medium-sized businesses'
09 February 2011
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For many consumers, premium credit cards are attractive because they offer a chance to collect points faster and reap rewards such as free flights, electronics and jewellery. Smaller business owners say growing consumer demand for those "freebies" is squeezing their profits because it is merchants who really foot the bill. A push by the Competition Bureau to lessen the load on merchants is setting the stage for a high-stakes battle with Visa Inc. and MasterCard Inc., which control more than 90% of Canada's credit card market.
In December, Competition Commissioner Melanie Aitken launched a legal action against the card giants. She urged the federal Competition Tribunal to quash "anti-competitive" business practices that inflate retailers' credit card acceptance costs and, allegedly, the prices consumers ultimately pay for goods. The costs are "particularly harmful for small and medium-sized businesses, key engines for economic growth in Canada," Ms. Aitken said. She recommended that retailers be allowed to slap a surcharge, or extra fee, on consumers who pay with premium cards. | |
The Canadian Federation of Independent Business (CFIB) contends merchants would be reluctant to impose surcharges, but giving them that power would keep their processing fees in check. The CFIB is launching a consumer education campaign this month, including a new website, to encourage the use of debit or cash when possible. |
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Tip of the Month |
Secrets to Success
Entering my 10th year of managing and consulting for the Greater Barrie Business Enterprise Centre, I find myself wondering what it is that makes this job so special and still so fresh. There are a lot of great things about the work that I do that are rewarding. But one of the most amazing things about the job is the absolute diverse nature of the people I get to meet every day, and the wide range of business ideas and goals that they come in with.
Whether they are looking to start a windmill farm, eco-tourism centre, residential cleaning business, or veterinary hospital, or expand an existing manufacturing plant, equestrian centre, jewellery business, or fine art studio, or anything in-between, their enthusiasm, determination and curiosity are common to all. Everyone is looking for someone to help minimize their risks of failure and give them tools to ensure success. Some are looking for financial resources. Others want someone to help them - write their business plan, do their market research, create their marketing materials or develop a marketing plan, etc. Many just need to know what they don't know and what their next steps should be.
And though the next steps will be different for almost everyone, some will apply to everyone:
1. Take the time to consider what your ideal vision is for your business. What does success look like to you?
2. Decide how that fits in with your vision for your personal life. What does a happy, successful, and balanced life look like to you?
Starting, growing, or expanding a business will require planning. If you have no vision, you have no idea what your destination is. Without knowing where you are going, you will be unable to plan for the journey and will therefore be unlikely to reach your end goals, or the success you envisioned. There are no rules that define what success is, or what your business should be. The only rules are those next steps that help you plan for your vision of that success.
With your vision clear and focused in your mind, the next steps should include getting a firm understanding of: the marketplace you will be operating in; your target market; the competition; the federal, provincial and municipal regulatory and legal requirements for your industry; potential risks and resources. And they should also include analyzing the results of the information you have learned about all those things so that you are able to build an effective operational, marketing, and financial plan.
Entrepreneurs come in many shapes and sizes, as do their dreams. After these many years, I still love watching entrepreneurs discover and process those so-called "secrets" to success. And I relish in their success with them - whatever that success means to them! So, if you are one of those entrepreneurs wondering where to start ... Start with the dream, start with your vision!
Terri Plaxton Smith
Greater Barrie Business Enterprise Centre |
| GBBEC Workshops |
Introduction to Business Workshop
Tuesday April 5, 2011 9:30am - 11:30am
Writing a Business Plan Workshop
Tuesday April 12, 2011 1:00pm - 3:30pm
How to Market your Business
Tuesday April 26, 2011 1:00pm - 3:30pm
Limited Spaces
Pre-Registration Required
Call 705-720-2445 to register
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| Coaches Corner | |
Stress Busters!
Are you a stress buster in your organization? Do people seek you out to help them find a solution when they are overwhelmed and struggling?
A good Leader anticipates and monitors the stress levels of their team members. They set realistic expectations and keep themselves and others accountable to deliver results. They routinely ask for feedback and act on it.
We have all worked for or know of organizations that are more like stress incubators. High levels of stress are toxic no matter how you look at it. Leading your team through stressful times can be easier than you think. It starts with a good dose of honesty, genuine caring and a willingness to look for solutions.
As the Leader in your organization you lead by example. How do you handle the stress? How is your work/life balance? The change has to start with you. A healthy and happy workplace really does produce more results in less time.
Developing your Leadership skills is probably the best investment you can make in your business. There are many ways to do this. Read books on leadership, autobiographies on other entrepreneurs, listen to downloads on your ipod, take a course, join a mastermind group, work with a Coach, or find a mentor.
Stress never leaves our lives but learning how to manage it is a wonderful gift.
Coach Jane Schnurr
705.444.5338
info@awesomecoaching.com
www.awesomecoaching.com.
© Awesome Coaching Enterprises 2011 |
| Business of the Month | |
Essay Editor
Barrie high school teacher Barbara Kenez knows what being busy means! The teacher at Eastview Secondary School teaches Business classes full time during Semester I which runs from September to February. During her "off" semester, Barbara operates a small business online.
Essay Editor.net is an online essay editing website. Because EssayEditor.net promotes itself as being 24/7, Kenez is always on call. She thrives on being active. Recently, she has added a service for authors wishing to self publish. "I'm targeting boomers and zoomers who have a memoir, novel, cookbook or article inside them. I've had interest from one author wishing to have me layout his book. It's really exciting."
Whether updating a resume for an entrepreneur in Kansas City, helping a York University student with details for her short story or assisting a Russian student with his English language skills, Kenez is up for any challenge.
"My mission is to improve students' writing skills and increase their love of literature." Kenez says. "I'm not in business to write essays and I make that very clear on my website."
Barbara M. Kenez, BA, BEd
705 796-1867
www.essayeditor.net
essayeditor@rogers.com |
| Marketing & Communications |
Cheap Video?
I worked in television and video production as a writer , producer, director for the best part of 30 years so I know a bit about video production and one recurring misconception has struck me over the years...and it's this ...videos are cheap and easy to produce.
Everybody seems to think they know something about video because they can use a camera or they have some type of editing software. With the advent of smaller, lower cost, higher quality cameras, access to digital editing; and even the broad appeal of YouTube, anybody can make a video, right ...well, not necessarily. It all depends on what you want to achieve with your video. Video can make us laugh, it can motivate us, it can inform us, it can empower us - or it can just bore us to tears. Unfortunately most videos fall under the bore us to tears category.
Corporate videos for the most part are designed to create a call to action, communicate a concept or describe a service that cannot be easily described in any other way. A video forms a contract with the viewer gained through their experience of watching television every day. That contract suggests that you must entertain as well as inform based on the audience's expectations.
Most clients who produce video for their web site, or for boardroom presentations make the same mistake that they make with advertising...they try and tell their story in linear fashion without consideration for the customer's needs and expectations. They focus on cost and in doing so eliminate all creativity and strategic planning. Videos like advertising can change people's opinions, can have an emotional appeal and can bestow a positive light on your product or service but only with well thought out messaging.
Today's videos are shorter - whether it's a flash mob, commercial or just an engaging demonstration. Longer videos can be effective but the viewer has to have a degree of control over the viewing process; and the content has to be engaging and as interactive as possible.
You can produce a video on a budget but the production company should be a partner in the planning and development of the concept...right from the start. Going to a production house and trying to direct the video will result in one thing...a bad video. Let the production company bring their expertise to the table and make sure, as the client; you inform them on your objectives, your audience and your content.
By Paul Cormier
© Ycommunicate.com inc. 2011
3A King Street South Unit#3
Cookstown, Ontario
L0L 1L0
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| Entrepreneur's Club |
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Then Join the Club, the Entrepreneur's Club!
Membership has its Perks!
Call 720-2445 and find out if you qualify today!! |
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Your Say |
Dear Terri
"Enjoyed our meeting this morning as one of the High Lights of helpful Encountersin ever so long.. Enabled me to take a breath and start to breathe again so to speak and realize I am not OUT there as usual without a lifeline ..and now looking forward to some guidance and advice in the future on how to avoid the predators and pitfalls."
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Do you have something to say that we could all benefit from? If you would like to share your tips, advice, comments or expertise with our clients by contributing to this newsletter, please send an email to newsletter@barriebusinesscentre.ca by 4 P.M. Thursdays, the first week of each month. Inclusion will be at the sole discretion of the GBBEC, dependent on suitability, space availability and the number of contributions received. This is not an advertorial or advertising spot, but rather an opportunity to share valuable words of wisdom or announce your upcoming events. Of course you will be given credit for the submission with a link to your website if available. We reserve the right to include your submissions in subsequent newsletters in addition to or instead of inclusion in the following week's issue. |
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