May
9

AXIS Business Sessions

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Join us as we provide the information necessary to gain essential skills needed to succeed in business.

Please contact axis@nfld.net to find out more!

 

Apr
13

St. John's Farmers' Market wins funding for permanent home at old bus depot

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It's official: the St. John's Farmers' Market will have a new home in the former Metrobus depot on Freshwater Road, with several levels of government teaming up to help bring the plan to fruition. 

 

The City of St. John's showed off the plan for its $2 million investment Friday morning at a news conference that also involved federal and provincial spending commitments.

 

"The decision to move forward with the community market comes after several years of work by the City, the St. John's Farmers' Market and its funding partners," Coun. Tom Hann said in a statement, adding that the investment will also create a vibrant community hub that has plenty of parking.

 

 

"The completion of a feasibility assessment and business plan enabled us to determine that a market is viable and financially sustainable in the proposed facility."

 

'Excited to expand'

 

The St. John's Farmers' Market Co-operative (SJFM) will run the facility. It is contributing $100,000 towards the project.

 

"A permanent home for the Market has been the Co-operative's dream ever since we started out as a small group of vendors and volunteers," said Joshua Smee, SJFM Chair.

 

"After years of bursting at the seams in our current location, we are incredibly excited to expand not only our space, but also what the market can offer the community."

 

The Farmers' Market has for many years been using the Lions Club Chalet off Bonaventure Avenue.

 

To read more of this article from cbc.ca, please click here

Mar
22

At creating new businesses, immigrants outpace Canadian-born people, StatsCan finds

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The Korean who owns the pharmacy, the Portuguese building contractor, the Indian who started an accountancy practice — no matter what their place of birth, they're creating jobs, for themselves and for others, Statistics Canada has found in a new study.

By the time they'd been in Canada nine years, about 5.3 per cent of immigrants owned a private company, meaning they formed new businesses more quickly than the Canadian-born population, where the rate is 4.8 per cent.

Another 19.6 per cent of immigrants were unincorporated self-employed persons, compared with 16.1 per cent for the Canadian-born group.

Longer-term immigrants, who had been in Canada from 10 to 30 years, also appeared to be more entrepreneurial than the Canadian-born, Statistics Canada said.

It found 5.8 per cent of longer-term immigrant tax-filers were owners of private incorporated companies.

The study was based on tax data from the year 2010, looking at immigrants who had arrived in 2004 and in the 10 to 30 year period leading up to 2010.

Smaller companies, fewer employees

The federal agency found private incorporated firms owned by immigrants tended to be smaller than those owned by their Canadian-born counterparts.

In 2010, private incorporated firms owned by longer-term immigrants employed, on average, about four employees, compared to about seven employees in private businesses owned by a Canadian-born group.

While immigrants are often perceived to be more entrepreneurial than the Canadian-born population, there have not been good studies to illustrate the business creation and job-creation role they play, according to authors of the study, David Green, Huju Liu, Yuri Ostrovsky and Garnett Picot.

"The extent to which immigrants contribute to economic growth is one of the central questions in immigration research," they wrote in an analysis of the data.

In the first two years after they arrive in Canada, immigrant's business creation level is quite low, the study shows.

To read the remainder of this article, please visit: http://www.cbc.ca/news/business/immigrant-businesses-study-1.3500813


Oct
26

Small Business is Big Business in NL

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Small Business has been hailed as the engine of the economy in Newfoundland and Labrador. The claim is backed by stats like how, last year, Atlantic Canadian entrepreneurs started more new businesses than any other region in Canada.


In Newfoundland and Labrador, there are more than 17,000 businesses that employ people: 98.5% of them are small businesses with 1-99 employees. 71% of jobs created in the private sector over the past 10 years can be attributed to small business.

In a recent study, the BDC (Business Development Bank of Canada) surveyed over 1000 SME leaders across the country to gather info that will help small business owners understand what it takes to grow their business. The report – track it down – offers “proven and effective strategies for successful growth.”

It focuses on “investments, innovation, employees, and clients” and claims that innovation is the key: businesses that have developed successful growth strategies have invested in training, staff, and new software and equipment.

To read the remainder of this article, please visit Overcast

Aug
4

Small business confidence up

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The small business confidence index in Newfoundland and Labrador is up for the second consecutive month, according to results released by the Canadian Federation of Independent Business (CFIB).


The latest survey shows the confidence index at 63.2 in July, compared to 60.8 per cent in June 2015.

 

 “The increase in July is the second in as many months,” says Vaughn Hammond, director of provincial affairs in Newfoundland and Labrador for CFIB. “It seems, at this point, CFIB members are beginning to adapt to the impacts of relatively low oil prices and are becoming less concerned as a result.”

 

 Sixteen per cent of small business owners intend to add full-time staff in the next three months, while four per cent of businesses expect to cut back on employees.

 

 In terms of their view about the general state of the economy, 55 per cent of entrepreneurs characterized it as “good” in July and five per cent described it as “bad.”

 

To read the remainder of this article, please click here

 

Jul
16

Canadian small business poised to lead product innovation in the Internet of Things

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The Globe and Mail - There is widespread agreement among the world’s technology leaders that the Internet of Things (IoT) has the potential to drive a new industrial revolution, taking the incredible connectivity of the Internet to the next level. For Canadian entrepreneurs, there is enormous opportunity to take advantage of our nation’s competitive advantages and become global leaders in the design and adoption of this emerging realm of technology.

 

 

We are already witnessing the incredible influence of the IoT in many sectors. This growing network of connected physical objects enables the collection, sharing and analysis of data to transform consumers’ lives and improve business productivity. For example, we now see smart thermostats that remotely control home heating, clothing that tracks personal activity and vital signs and the use of sensors, cameras and lasers along industrial production lines to help manufacturers analyze the efficiency of their processes.

 

While the technology is impressive, so is the potential for Canadians to lead the field. We have world-class infrastructure and telecom networks with ample bandwidth, incredible Canadian talent and a history of successful technology and communication companies.

 

We have another ingredient for success, according to a recent national survey by Primus Telecommunications Canada and Ryerson University’s DMZ: a homegrown market of consumers who are eager to try new technologies. In fact, this survey – one of the first and most comprehensive glimpses of Canadians’ attitudes towards the IoT – found that 83 per cent of respondents are willing to try new technology to make their lives easier and 40 per cent consider themselves early adopters of technology. Since 44 per cent of Canadians say they are likely to adopt connected devices in the next two years, our own companies are well positioned to bring the next generation of the Internet to life.

 

To read the remainder of this article, please click here

Jun
1

Entrepreneurship In Canada Ranks 2nd In World, Report Says

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Canada is second only to the U.S. in levels of entrepreneurial activity, beating most G7 countries and much of the developed world.

That's the conclusion of the Centre for Innovation Studies in Calgary, which researched the state of entrepreneurship in Canada for the international Global Entrepreneurship Monitor in London.

 

Canada's level of entrepreneurship is on a par with Australia, with about 13 per cent of the working-age population involved in early-stage entrepreneurial activity, according to Peter Josty, executive director of the Centre for Innovation Studies.

 

"The Canadian environment and culture for entrepreneurship is healthy. Entrepreneurship is seen as a good career for which opportunities exist within the capacities of a large segment of the population," the report says.

 

Among the positive attitudes cited for Canadian culture:

- Highly supportive of individual success achieved through personal effort.

- Emphasizes self-sufficiency, autonomy and personal initiative.

- Encourages creativity and innovation.

 

But the culture of innovation is different in Canada.

 

To read the remainder of this article, please visit:

http://www.huffingtonpost.ca/2015/05/30/entrepreneurship-in-canada-ranks-2nd-in-world-report-says_n_7473134.html

Apr
27

Budget Big Win for Small business, Manufacturers

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The federal budget contained big wins for Canada’s small business owners, manufacturers and auto parts suppliers. The Ring of Fire, however, didn’t get the boost some had hoped for:

 

Small business

The sector won a massive and long, sought-after tax cut, with its rate dropping to 9 per cent from the current 11 per cent over four years. The measure, which comes into effect in 2016/17, will cost Ottawa $2.7 billion in lost revenue.

 

Critics fear the reduction will encourage more rich people to set up corporations to avoid paying tax. Advocates say it will encourage small business owners to invest and expand.

 

“It is perhaps the most decidedly pro small business budget we’ve seen,” said a delighted Dan Kelly, president and chief executive officer of the Canadian Federation of Independent Business.

 

Manufacturers

They won a 10-year tax incentive to boost investment in machinery and equipment, a measure that should help them drive Canada’s economic growth now that the energy industry has been hit by plunging oil prices.

 

To read the remainder of this article, please visit:  http://www.thestar.com/business/economy/2015/04/21/budget-big-win-for-small-business-manufacturers.html

Mar
31

Ten Personality Traits of Successful Entrepreneurs

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Before deciding to go into business for yourself, it is important to determine if you have the right personality to do so.

 

Realizing whether or not you have the right personality to start a business can not only save you from wasting a lot of time and effort in the future – it can potentially save you a great deal of money.   

 

 

The following are ten qualities that have been proven to be extremely beneficial for entrepreneurs.

 

  • ·         Self-confidence:  Believing that your success depends on the work that you do, and not on things beyond your control. Remember that it is important to keep your self-confidence realistic.
  • ·         Goal-orientation: Having a clear vision of what you want.
  • ·         Reliability: By meaning what you say, and doing what you promise, you will form important and meaningful business relationships.
  • ·         People skills: Even though independence is a strong characteristic of many successful entrepreneurs, having the ability to work/get along with people is perhaps even more important. You’ll have to work with customers and clients, employees, suppliers, investors, etc.
  • ·         Resourcefulness: The ability to try different ways of doing things if the first way does not work.
  • ·         Strong nerves: Hopefully difficult times will not be plentiful when running your business, but they will likely occur on occasion. Having the ability to remain calm and properly handle yourself and your business during these times is undoubtedly an important characteristic to have.
  • ·         Risk-management skills: Having the ability to identify risks, and prepare a plan to soften their impact or overcome them.
  • ·         Organizational talents: It will prove to be extremely beneficial if you have the capability to organize your time, accounts, goals, etc.
  • ·         Objectivity: Having the strength to acknowledge your own mistakes and accept reality could mean the difference of the success or failure of your business. Being able to accept reality and accept feedback about your business is undeniably important.
  • ·         Opportunism: The skill to identify opportunities when they present themselves, and also to seek them out, or even create your own opportunities.

 

In addition to these ten qualities, being able to accept that you will not receive a regular paycheque, and you will not get paid for sick days will come in handy.

 

If these qualities do not come natural to you, work on developing them to increase your likelihood of being successful as an entrepreneur. 

 

Jan
29

Analysis shows massive aquaculture growth

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The province’s aquaculture industry has grown tenfold over the space of a decade, according to a new analysis released by the provincial government Monday morning.


That growth has transformed the south coast of the province, according to aquaculture operator Jennifer Caines.

 

“It’s real. I know I certainly feel it in my own community, and the many communities where we have employees,” said Caines, project manager of Northern Harvest Sea Farms. “I’ve worked in the aquaculture industry for 30 years in the province, but it’s really the past 12 or 14 years that I’ve seen major increases in employment, and just the activity around the area.”

 

Northern Harvest is one of the companies that produce salmon in the province, and that’s where the massive industry growth has been — from fewer than 5,000 tonnes in 2003 up to more than 20,000 tonnes a decade later.

 

That growth has translated into the province’s economy.

 

In 2003, the total impact on the province’s GDP from aquaculture was about $10.5 million. In 2013, it was $104.1.

 

To read the remainder of this article, please visit:

http://www.thetelegram.com/Business/2015-01-26/article-4021466/Analysis-shows-massive-aquaculture-growth/1