Focus on Business
in St. Albert |
20 Ingredients to Outstanding Downtowns
As part of our Business Retention and Expansion programs St. Albert Economic Development is going to be offering seminars and webinars to our local businesses. We're pleased to announce the first webinar series will be presented by Roger Brooks of DDI - The 20 Ingredients to Outstanding Downtowns.
The series highlights how important it is for city staff, politicians, property owners and downtown business owners to work together to make our downtown outstanding. The sessions cover topics like having a critical mass of ideal businesses, attracting anchor tenants, parking, branding, beautification and other keys to vibrant downtowns.
Roger is also available after for a Q & A session that usually brings out other helpful tips.
All sessions will be at the St. Albert Business Centre, 29 Sir Winston Churchill Ave. They cost $15 each but if you register for all 3 you get one free!
March 26, 2013 9-10:30 a.m.
20 Ingredients to Outstanding Downtowns Part 1
April 3, 2013 9-10:30 a.m.
20 Ingredients to Outstanding Downtowns Part 2
April 23, 2013 9-10:30 a.m.
20 Ingredients to Outstanding Downtowns Part 3
To register, call Michelle at 780-459-1631.
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New Provincial Website for Businesses
Government red tape is always frustrating to businesses and having easy access to information is key to success. The Alberta government is acting on recommendations from their Red Tape Review Taskforce and is making it easier for businesses to find information about services and regulations that affect them.
On February 25, the Honourable Thomas Lukaszuk, Deputy Premier and Minister of Enterprise and Advanced Education launched a new website that provides quick access to information on business services, and a new webpage listing all 1100 government regulations. Check it out at http://alberta.ca/BusinessServices.cfm
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St. Albert in the News
St. Albert has been popping up in the national news everywhere over the past few weeks... and it's all GOOD NEWS.
Canada's Healthiest Community - Reader's Digest Magazine. Local resident Sharon McNally submitted information about the healthy lifestyle many are able to have in St. Albert and the magazine's judges agreed with her, naming us Healthiest Community.
Best Small City in Canada, #2 Best Overall City to Live, #3 Best Place to Raise a Kids - Moneysense Magazine did their annual review of cities across Canada and we ranked in top 3 for all major categories. Employment, Housing, Lifestyle, and family amenities put us at the top.
Garden Tourism Initiative of The Year for our Botanical Arts brand development and promotion at the Garden Tourism Conference in Toronto.
Give yourself a pat on the back because these kudos are only possible because of the residents and businesses in St. Albert.
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Business Health Challenge #1
Is your business healthy? I don't mean as a place for your employees, but is your business in a position to grow and stay sustainable? Are you just coasting along or worse yet are you slowing losing control? Over the next six months we're going to cover six aspects of a healthy business and challenge you to test yourself and see if any changes may be necessary.
First things first - Cash Flow. Let's get the scariest one out the way first. The majority of businesses that fail after the first year fail because they can't pay their bills on time. You can be a profitable business and still have cash flow problems.
Your challenge for April is to complete at least a 6 month cash flow projection though a 12 month is better.
Why? Well it would pretty embarrassing and detrimental to your business if you couldn't pay your supplier on time or worse yet your staff. Projections can help you make informed purchasing decisions; do you need a new piece of equipment? Understanding your cash standing can help you decide when to purchase and whether or not financing would be a good option. Projections help you manage the slow months and see when you may need a line of credit. Cash flow projections also help you in inventory decisions, marketing plans and HR planning.
When completing your projection, remember a sale today doesn't necessary mean cash today. If your suppliers get 30 days to pay, the cash from today's sale will be recorded next month. Same with your expenses, only record when the cash will be moving from your bank account.
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Cash Flow Projections
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April
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May
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June
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July
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August
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September
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Revenues
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Sales
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Disbursements
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Salaries
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Accounts Payable
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Rent/Mortgage
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Utilities
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Cash Surplus/Deficit
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Opening Cash Balance
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Cash Surplus/Deficit
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Closing Cash Balance
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This is just a very simple example. Be sure to record all sources of revenue you have as well as details of your expenses.
Tips to Manage your Cash Flow
- Manage your invoices - make sure you send out your invoices in a timely way and ensure they are accurate. Make sure if you issue credit your credit terms are clear.(ie: Net 30 days. 2% interest charged for late payment).
- Monitor your inventory control. Is your product moving? Having it sit on a shelf and become stale does no good for your business. Can you liquidate with a sale or sell items on Kijiji or another creative option to move that product?
- Manage your Accounts Receivable- yes you may have to make the dreaded credit call. Customers often just don't pay on time and you may need to nudge them along. Do credit check on large order customers.
- Manage your Payables - You need to pay your suppliers but you don't need to pay them as soon as you get the bill. If they extend credit terms, use them. Pay by credit card which will buy you a few extra days or weeks to pay. Just MAKE SURE you pay the balance every month.
- Talk to your banker about other options or tips they can provide.
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BUSINESS SPOTLIGHT ON... Connect Control Systems
This month I had the privilege of meeting Ian Taylor at Connect Control Systems in the Riel Business Park. Ian, an instrumentation technician, started his business as an independent contractor in 2007. Five years later, Connect Control employs 20 people and is handling large scale infrastructure projects for national oil and gas companies, chemical manufacturers and the provincial government.
What is it that they do, you may ask. Well so did I. They provide industrial automation services which means they create computer programs and the hardware needed to control equipment or processes. For example, they may make a system that will control flow through a pipeline or another system could regulate the refining process of natural gas. They create the system and a control centre that allows the client's staff to safely and easily monitor the process. Ian prefers to Instrumentation Technicians which provides Connect Control an edge over the competition. They not only understand the computer program but also how the instrument they're trying to control works. This allows them to provided added value to their clients.
 
Being leading edge is important to Ian and his team. They stay current on several different types of control equipment and programs so they can always offer their clients the best solution for their needs. They go the extra mile and provide onsite installation and can offer remote access and reporting. Connect Control Systems recently added two key divisions - Connect Global Corp. which is focused on supporting the expanding oil and gas industry in the USA and a Control Panel Fabrication shop supplying automation products in various industrial applications. They have continued plans for growth and expansion this year and in the future.
Being in St. Albert is key for Connect Control. Fifty percent of their customer base is oil & gas service companies - which the Edmonton region is known for. Born and raised here, St. Albert is also home for Ian and his family. The ability to work in a community he is so proud of and to be able to bike to work create increased job satisfaction for him.
Check them out at:
Connect Control Systems
35 Renault Cres.
St. Albert, AB T8N 4B7
Tel. 780-459-6625
www.connectcontrol.net
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New Businesses in St. Albert
Commercial/Industrial Businesses
Babble Beauty Bar 780-460-2423 206A 506 St Albert Tr All Your Beauty Needs At One Location tiffany@babblebeautybar.ca www.babblebeautybar.ca Concord Security Corporation 403-252-8005 Ext 205 507 22 Sir Winston Churchill Ave Security Guard Services tgraham@concordsecurity.com www.concordsecurity.com Heart and Hands Body Work 780-983-8107 103 50 St Thomas St Massage Therapy Treatments - Deep Tissue, Relaxation, Therapeutic, Pregnancy dextrase.dawn@gmail.com Richlyn Custom Homes (2010) Ltd. 780-458-2100 180 6 Renault Cr Custom Home Building Contractor info@richlyncustomehomes.com www.richlyncustomhomes.comdextrase.dawn@gmail.com Wellness Within 780-489-7799 101 Riel Dr Health and Wellness Services, Spa, Yoga info@wellness-within.ca www.wellness-within.ca
Home-Based Businesses
1721314 Alberta Ltd. 780-458-0329 Provide Concrete Work Services Campus Creation Landscaping 780-935-8155 Lawn Care & Various Landscaping Tasks campuslawn@yahoo.com Champs Property Care / Snow Removal & Lawn Care 780-700-8832 Commercial and Residential Lawn care, Snow Removal and Landscaping champspropertycare@gmail.com Erin's Cleaning 780-803-5001 Residential Cleaning Pink Belts Ltd 780-932-8766 We Are An All Female Roofing Company pinkbelts@shaw.ca www.pinkbelts.net Pink Lilac 780-952-5434 Floral Design Swiss Butter Haus 780-651-6391 Flavoured Butters and Dipps |
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