GVBOT announces may release of scorecard 2018 benchmarking Greater Vancouver against 19 competitor cities 3
THE OFFICIAL PUBLICATION OF THE GREATER VANCOUVER BOARD OF TRADE AND ITS MEMBERS | FEBRUARY 2018 | VOLUME 58 / ISSUE 2 | BOARDOFTRADE.COM
GVBOT Hosts Former U.S. First Lady Michelle Obama special speaker | Two Special Engagements with Board of Trade Members and Guests
ormer U.S. First Lady Mi- school students from across Vancity to moderate the evening chelle Obama will be in British Columbia attended WE conversation with Mrs. Obama. FVancouver on February FOR SHE last November, and this A lawyer by profession, Mrs. 15, 2018 for two special engage- event with Mrs. Obama will en- Obama has worked in commun- ments hosted by the Greater sure that her words are heard by ity and social settings. She is Vancouver Board of Trade, pre- some of the people who will be involved with many causes, in- sented in partnership with WE most inspired by them: young cluding a number of educational FOR SHE 2018. women and the next generation issues. In 2015, she launched the The Board of Trade will host of leaders.” international program Let Girls Mrs. Obama at the Queen Eliza- The evening engagement sold Learn. beth Theatre in Vancouver for out very rapidly to Members of Mrs. Obama’s accomplish- an afternoon and an evening the Greater Vancouver Board ments include degrees from Moderated Conversation with of Trade. Commenting on the Princeton University and Har- Michelle Obama, Former First evening event, Anne Giardini, vard Law School, a career in Lady of the United States. Chair of the Greater Vancouver law and in administration, and Commenting on the afternoon Board of Trade and Chancellor raising two remarkable young engagement, Iain Black, Presi- of Simon Fraser University said, women. dent and CEO of the Greater Van- “Michelle Obama is a luminary. Along the way she has be- couver Board of Trade said, “Our She is a role model for millions of come a role model for women focus will be engaging the par- women and an inspiring speak- — including women of colour ticipants and organizers of our er. We at the Board of Trade are — as well as spokesperson on a sold out WE FOR SHE forums, honoured to welcome her to Van- range of issues including health, and those of our unique Greater couver, and we look forward to poverty and minority rights. SB Vancouver Board of Trade Sig- hosting a thought-provoking nature Programs: Leaders of and compelling dialogue with If you are interested in attending Tomorrow, Company of Young Michelle Obama as our guest.” what is sure to be an inspiring Professionals and our Women’s The Board of Trade is very event, imited tickets are still available Leadership Circle.” pleased to welcome Tamara for the afternoon engagement at He continued, “Over 800 high Vrooman, President and CEO, boardoftrade.com/obama.
Economic Outlook 2018 Message from the Chair Director spotlight Accepting nominations for the 2018 Wendy McDonald National Bank Chief Chair Anne Giardini on Q&A with Sarah McCullough, Diversity Awards 6 Director, Government and Economist, Stéfane Marion hosting Former U.S. First Photo highlights from recaps his keynote address. Lady Michelle Obama. Community Relations, recent events and 2 4 Whistler Blackcomb. 5 activities 7
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604-272-8123 TOLL FREE: 1-877-399-8123 FAX: 604-233-0202 · LONDONAIR.COM Greater Vancouver Board Of trade | Sounding Board | february 2018 2 events and speakers economy | GVBOT 29th Annual Economic Outlook Forum Recap
British Columbia and Canada in good shape, of Canada keep interest rates below inflation? Expect rate in- Board of Trade audience hears from National creases by the Bank of Canada Bank Chief Economist, Stéfane Marion as well, with the rate heading towards 2.0%. n We can expect oil in the $55- he Greater Vancouver Board double-digit growth from pre- $62 range in 2018, based on of Trade’s 29th Annual vious years. China is in a tran- West Texas Intermediate. TEconomic Outlook Forum sitional period as it shifts to a n Geopolitical instability will re- presented by National Bank greater emphasis on the service main a major source of concern took place on January 19, 2018. industry. for Canada, chiefly U.S. trade A packed room of business lead- n The U.S. economy had a very policy. We need to be careful ers heard from experts on a range strong year. The S&P 500 Index about relying too much on of Canadian and B.C. economic is seeing its longest rally with- geopolitics to drive economic topics. Sought-after speaker, Sté- out a correction – nearing 400 forecasting. fane Marion, Chief Economist days – buoyed by the longest In summary: After a stellar 2017, and Strategist, Executive Vice- business cycle in U.S. history. Canada is looking at repeating President, Financial Markets, Na- These factors should underpin the feat in 2018, thanks in part tional Bank of Canada launched growth in output over the com- to a dose of government spend- the day with a keynote address ing months. in the short term. n The Canadian housing mar- ing. In addition, consumers will covering many macroeconomic n Similarly, economic indica- n Canada has the fastest popula- ket continues to be robust, es- continue to enjoy the benefits of topics of critical importance to tors were positive and upward tion growth of all OECD coun- pecially in Vancouver, but is low interest rates and wealth ef- B.C. and Canada over the com- trending for Canada and Brit- tries. Canadian immigration below large global cities like fects associated with rising home ing year. ish Columbia in 2017. The un- policies have allowed for up Paris, New York and Hong prices, despite some monetary Below are highlights and reflec- employment rate was low, with to 300,000 new immigrants Kong on a price-per-square- policy tightening by the Bank of tions of his economic and finan- B.C. leading all provinces at annually, of which 62% are in foot basis. A large correction in Canada. This outlook, however, cial outlook. 5.2%. Full-time job creation the economic category. 60% of the housing market is unlikely assumes that downside risks, n The global and U.S. economies in Canada was twice that of Canada’s foreign born popu- unless labour markets deterior- including a potential demise of saw another year of above-po- the United States in the 25-54 lation have a post-secondary ate markedly or mortgage rates NAFTA or the relapse of lower tential growth, and trade vol- age demographic. B.C. real education, meaning highly- surge upwards. commodity prices, do not ma- umes at all-time highs. Overall GDP growth at 3.7% was also educated immigrants repre- n Interest rates are expected to terialize. SB global growth was near 3.7% in the strongest in the country sent a tremendous opportunity rise in 2018. The U.S. Federal 2017. The Eurozone was strong in 2017. The Canadian dollar to drive the future growth of Reserve may hike rates up to See photos from the event and at 1.9% and China continued is projected to remain in the the Canadian economy – a three times in 2018 as 10-year download Stéfane Marion’s its strong growth at around $1.20- $1.30 range compared significant global competitive Treasury Bill yields approach presentation at boardoftrade.com/ 6.5%, though down from its to the greenback, but stronger advantage. 3.0%. How long can the Bank economicoutlook.
upcoming events Is there a speaker you’d like to hear from or topic you’d like See our full events calendar at boardoftrade.com/events explored? Make a suggestion at boardoftrade.com/suggest
Thursday, February 8, 2018 Thursday, February 15, 2018 Tuesday, February 20, 2018 Wednesday, February 21, 2018 Wait-list A conversation with Thrive Series Leaders of Tomorrow shaping the next century: Former u.s. First Lady michelle obama 3 major employment risks your Discovery series: The Business of Beer Building a strategic plan for the Queen Elizabeth Theatre business doesn’t know about with Granville Island Brewing university of British Columbia and how to manage them 630 Hamilton Street, Vancouver 5:30 – 7:30 p.m. 11:30 a.m. – 2 p.m. 7 – 9 a.m. AFternoon engAgement Dave nicholls Dr. santa ono Doors: 12 p.m. J. geoffrey Howard General Manager President and Vice-Chancellor Program: 1:00 – 2:30 p.m. Partner, Roper Greyell LLP Granville Island Brewing university of British Columbia presented by: Greater Vancouver Board of Trade Pinnacle Hotel Harbourfront Granville Island Brewing Four Seasons Hotel Vancouver —Tuscany Ballroom event partners: Tourism Vancouver, Fairmont Hotel Vancouver 1441 Cartwright Street — Park Ballroom 1133 West Hastings Street event partner: Granville Island Brewing 791 West Georgia Street evening engAgement — SoLD ouT platinum program partner: Scotiabank platinum program partner: BCIT Business presenting sponsor: uBC Sauder School of Business gold program partner: British Columbia Securities Commission gold program partners: London Drugs, SFU Beedie School Doors: 5 p.m. community sponsor: Boyden of Business, Langara School of Management Program: 6:00 – 7:45 p.m. preferred media partner: Daily Hive Vancouver MoDERaToR tamara vrooman President and CEo, Vancity presenting sponsor: Vancity Beyond nAFtA? supporting sponsors: Bennett Jones, KPMG, Safeguarding our Chartered Professional accountants British Columbia
event partners: Tourism Vancouver, Fairmont Hotel Vancouver governors’ Banquet Trading Relationship and rix Awards Thursday, February 22, 2018 Tuesday, February 27, 2018 Monday, april 23, 2018 boardoftrade.com/BeyondnAFtA 999 Canada Place | 7:30 a.m. boardoftrade.com/governorsbanquet
Pillar Partners Preferred Media Partner: Greater Vancouver Board Of trade | Sounding Board | february 2018 Policy pulse 3 economy | GVBOT Announces Greater Vancouver Economic Scorecard 2018 Scorecard 2018 to be released in May, benchmarking Greater Vancouver against 19 competitor cities
t the Greater Vancouver biggest media day in the Board Board of Trade’s Eco- of Trade’s 130-year history – it Anomic Outlook Forum on reached 90 million viewers, January 19, Senior Vice-Chair including civic leaders and the Lori Mathison officially an- press in many of our bench- nounced the Greater Vancouver marked cities. Economic Scorecard 2018. Scorecard 2016 continues to The Board of Trade is pleased be a valuable reference – and an to once again collaborate with influential piece of public policy the Conference Board of Can- – for political, business and ada to produce Scorecard 2018. community leaders in Greater Work is well underway, and it Vancouver and across Canada. Affordability social indicators. n Have we made progress on will be released this May. The results captured our re- Challenge 3: Land Scarcity for On the overall ranking, has any of the easy - or the in- As a refresher, the Regional gion’s strengths and weaknesses Enabling Trade Greater Vancouver improved tractable - challenges facing Economic Scorecard 2016 was on 21 economic and 11 social Challenge 4: Low Productiv- its standing against the likes Greater Vancouver? a seminal piece of work by the indicators. Overall, Greater Van- ity Levels of Singapore (number one two Comprehensive studies like Board of Trade, produced in couver ranked ninth against the Challenge 5: Room to Improve years ago), Copenhagen (num- this are not possible without partnership with the Confer- other cities. The seven regional on Educational Attainment ber two), Calgary (number four) the engagement of key partner ence Board of Canada, and with challenges presented in the Rates or Sydney (number seven)? organisations who have roots the essential support of Pillar report have helped guide the Challenge 6: High Marginal As Lori Mathison noted in here; who form part of the eco- Partners and other Members of Board of Trade’s analytical and Tax Rates on Capital for Business making the announcement, nomic, political and social fab- the Greater Vancouver Board advocacy work over the last two Challenge 7: Attracting Head “Two data points do not a trend ric of our region; and who have of Trade. years. Offices make… We will have to see a keen interest in the future of The inaugural Scorecard com- To recap, the seven challen- This year’s Scorecard will fol- Scorecard 2020 for that.” But the region. SB piled key economic and social ges identified in Scorecard 2016 low the same format as 2016: she reminded the Economic statistics of our region, and were: Greater Vancouver will be Outlook audience what Score- To view the announcement benchmarked Greater Vancou- Challenge 1: Lack of Invest- benchmarked against the same card 2018 can tell us about our video, find out about partnership ver against 19 competitor cities ment in Public Transit and competitor cities but there will region since 2016: opportunities or review Scorecard around the world. Roads be twenty-two (22) economic n Are we on the right track eco- 2016 visit boardoftrade.com/ Launch day was the single Challenge 2: Housing indicators and seventeen (17) nomically and socially? scorecard2018.
Governors’ Banquet and Rix Awards 2018
Monday, April 23, 2018 | 6 − 9:30 p.m. | Vancouver Convention Centre — West | 1055 Canada Place Way, Vancouver
Council of Governors Inductee The Rix Award for Engaged The Rix Award for Engaged Community Citizenship Corporate Citizenship Robin Silvester, ICD.D President and Chief Executive Officer Gordon Diamond, O.B.C., LL.D. Vancouver Fraser Port Authority Leslie Diamond, O.B.C.
Rix Awards Sponsor: Platinum Sponsors: Gold Sponsor: Preferred Media Partner:
THE JIM PATTISON GROUP
boardoftrade.com/governorsbanquet Sponsorship opportunities and table purchases: [email protected] or 604-640-5472 Greater Vancouver Board Of trade | Sounding Board | february 2018 4 chair’s message
SOUNDING leadership | Exciting Times Ahead
BOARD Chair Anne Giardini looks ahead to a special day PUBLISHER: Business in Vancouver Media Group with Former U.S. First Lady Michelle Obama EDITOR: Greg Hoekstra, 604-640-5450 AD SALES: Marie Pearsall, 604-608-5158
ABOUT THE PUBLICATION By Anne Giardini Sounding Board is the Greater Vancouver Board of Trade’s official publication, distributed to all its Members, as well as all subscribers of Business in Vancouver newspaper. Sounding Board is published 11 times per year by Business in Vancouver Media Group in partnership with the Greater e at the Greater Van- Vancouver Board of Trade. The newspaper is read by business leaders and elected officials across couver Board of Trade B.C. and beyond, with a conservatively estimated total readership of 37,500. have had a thrilling few ABOUT THE BOARD OF TRADE W weeks since we announced that The Greater Vancouver Board of Trade is Western Canada’s most active and influential business Former U.S. First Lady Michelle association. We accelerate business success through our advocacy and public policy initiatives, our four Signature Programs for professional development, and our 100+ events each year, which Obama would be coming to Van- educate and connect our region’s business community. We engage with decision-makers to couver to hold two conversations develop our region as a vibrant hub for commerce, trade, travel, and free enterprise. And we’ve with our Members and others. been doing it with tangible results, for more than 130 years. Tickets to the evening event sold MISSION STATEMENT out as soon as they were made OUR PURPOSE is to support sustainable prosperity throughout the Greater Vancouver region. available however, there are still OUR VISION is to be an active, innovative, trusted, credible business organization, known for influ- limited tickets for the afternoon encing decision-makers, and educating, connecting with, and engaging our communities. engagement. OUR MISSION is to provide leadership, information and connections, and public policy support It is no mystery why the wife of Anne Giardini, O.C.,Q.C. that help ensure the Greater Vancouver region is competitive and the preferred Pacific Gateway for trade, commerce, and travel. most recent past President of the WE ARE informed, respectful, principled, collaborative, and professional. United States compels so much interest. In addition to her years It is no mystery why the At the Board of Trade, we aspire in a vantage point at the centre of to remain at all times informed, BOARD OF DIRECTORS 2017-18 many of the world’s affairs, Mrs. wife of most recent past respectful, principled, collabora- Obama is enormously talented tive, and professional. We will EXECUTIVE COMMITTEE President of the United Chair Anne Giardini, O.C., Q.C. and accomplished in her own only be able to continue to carry Chancellor right. States compels so much out our mission of supporting Simon Fraser University She holds degrees from Princet- sustainable prosperity through- Senior Vice-Chair Lori Mathison interest. President and CEO on University and Harvard Law out the Greater Vancouver region CPA BC School, has had a career in law if we remain credible and trusted. Vice-Chair Evi Mustel, CMRP and in administration, is the The most recent Edelman Trust Principal mother of two remarkable young Barometer for Canada measured Mustel Group Vice-Chair and Policy Council Chair Kari Yuers women, and has become a role a decline in trust in four core President and CEO model for women – including institutions: ENGOs, business, Kryton International Inc. women of colour – as well as media and governments. On the Secretary-Treasurer Christopher Lythgo spokesperson on a range of issues University, she commented on bright side, Edelman reported Regional Director, B.C. & the North Business Development Bank of Canada including health, poverty and the challenges rising above the that Canadian businesses con- Advisory Services minority rights. fray even during “the countless tinue to rank highest in trust Finance and Audit Committee Chair Jan Grude Despite her many, obvious times when … language gets globally. The report also point- Corporate Director World Trade Centre Committee Chairr Robin Dhir claims to cool, Mrs. Obama’s has personal and is directed at my ed out the opportunity for any President admitted to being a classic class- husband. Charges that he doesn’t Canadian business to grow and Twin Brook Developments Ltd. room geek. “I never cut class” love his country. The time he was regain trust by “taking specific Immediate Past Chair Robin Silvester she told a group of schoolchil- called a liar in front of a joint ses- actions that both increase profits President and CEO Vancouver Fraser Port Authority dren in 2009. “I loved getting A’s, sion of Congress. The nonstop and improve the economic and Member at large Sue Belisle I liked being smart. I liked being questions about his birth certifi- social conditions in the com- President and Publisher on time. I thought being smart cate and his belief in God!” munity where it operates.” Business in Vancouver Media Group is cooler than anything in the Her advice to the Jackson State No organization can afford Member at large Mary Anne Davidson Corporate Director world.” students bears repeating. She to be complacent in a world of President and CEO Iain Black, ICD.D Mrs. Obama has also demon- said, quoting her husband Bar- fragmenting trust. It is my hope Greater Vancouver Board of Trade strated a deep commitment to ack Obama, “As he says, ‘When that Mrs. Obama’s visit will in- BOARD OF DIRECTORS ethical and principled behaviour they go low, I go high.’” spire many of us to “go high” in a Rita Andreone O.C. Lawson Lundell LLP while in a position of the greatest This is a timely reminder of the world that sometimes seems to be Kim Baird O.C., O.B.C., ICD.D Kim Baird Strategic Consulting possible access to power, even usefulness of steady principles, headed in the other direction. SB Barbara Brink C.M., O.B.C. Applied Strategies Brent Cameron Boyden when, at times, patience and especially in an era of new and Alice Chen Export Ventures Group charity must have been stretched instantaneous, unedited and Anne Giardini, O.C., QC, is 2017-18 Chair of Neal Cormack Stantec almost to breaking. unmediated, frequently base- the Greater Vancouver Board of Trade. She Radha Curpen Bennett Jones LLP In a 2016 commence- less, and sometimes disturbing is a corporate director and Chancellor of Lara Dauphinee Fiore Group David Garofalo Goldcorp Inc. ment speech at Jackson State communications. Simon Fraser University. Robin Hemmingsen LaSalle College Vancouver Yaletown Peter Higgins Purdy’s Chocolatier Mark Hoag, CPA, CA MNP LLP David Hoff Ledcor Terry Hui Concord Pacific Developments Ltd. Michael McCarthy TELUS Sarah McCullough Whistler Blackcomb Jessica McDonald Canada Post Patricia Mohr Corporate Director Meredith Powell The Next Big Thing Elise Rees, FCPA, FCA, ICD.D Corporate Director Craig Richmond Vancouver Airport Authority Lorne Segal, O.B.C. Kingswood Properties Ltd. Todd Shewfelt RBC Royal Bank Bruce Sprague NextGen Energy Ltd. Kirsten Sutton SAP Labs Canada Vivian Zalkow Taymor Industries Ltd.
PUBLICATIONS MAIL AGREEMENT No. 40011551 Greater Vancouver Board of Trade, World Trade Centre Suite 400, 999 Canada Place Vancouver, B.C. V6C 3E1 [email protected]
@boardoftrade @boardoftrade @theboardoftrade Greater Vancouver Board Of trade | Sounding Board | february 2018 director spotlight 5
leadership | Together our voices have power and reach
Q&A with Board of Director Sarah McCullough, Director, What is the most difficult thing you have ever done? Government and Community Relations, Whistler Blackcomb Parenting continues to be the most challenging thing I’ve ever Describe what you do in 10 words Why did you join the Greater What is something most people done. Raising two boys that are or less. Vancouver Board of Trade? don’t know about you? empathetic, respectful, femin- Contribute to providing the ex- The Board of Trade has prov- I’m left-handed and I’m an only ists, avid readers, and ready for perience of a lifetime for Whist- en time and time again that child. a challenge remains my goal. SB ler Blackcomb guests. together our voices have power and reach. As an organization What qualities make someone Sarah McCullough is Director of Gov- Where is your hometown and how we are known for our informed successful? ernment and Community Relations for did it shape you as an individual? and educated view of policy im- The most successful people I Whistler Blackcomb. As a member of the I grew up on the North Shore, pacts on our businesses and our know are humble, teachable, resort’s senior leadership team, Sarah taking its beauty for granted economy. GVBOT is commit- push themselves outside their is responsible for maintaining strong until I moved to Ottawa for uni- ted to collaboration and aware comfort zones, and listen more relationships with government and versity. Now I’m aiming to repli- of the unique contributions of than they speak. community stakeholders. She is also cate my childhood with my kids business and advocacy organ- Sarah McCullough responsible for Whistler Blackcomb’s re- – swimming in the ocean, bike izations throughout the region. What is the secret to happiness? lationship with the Squamish Nation and riding, walking in the woods Being present and realizing that the Lil’wat Nation, the shared traditional and – of course – skiing. How do you think our region will these are the good old days. I’m a Au Comptoir, Cuchillo territory upon which the resort operates. be different 10 years from now? big fan of Lena Dunham’s Lenny and Campagnolo. Here in What was your first job? I hope that we are more deeply Letter and one of their writers Whistler, I’ve always loved An external relations professional with Working the counter at Malkin connected to one another – asked, “Can every day be a little Umberto’s Trattoria. more than two decades of experience Cleaners in West Vancouver. off-line – and to our neighbour- door in a wild advent calendar?” in British Columbia’s natural gas sector, It was a family business and hoods and communities. Ideally, What is the last TV show you Sarah most recently served as director of we learned the value of team- we then become less strident What does a perfect day look like binge-watched? government relations for Spectra Energy, work, going the extra mile for in our positions and more col- to you? The Crown. responsible for leading the organization’s our customers, proper folding laborative in our solutions. We Waking up to new snow, brewing government relations and climate change of starched shirts, and how to will be older, more diverse, and strong coffee, making crepes for What is your favourite vacation functions. brew a decent cup of tea. more deeply connected to the my kids, and hitting the slopes spot? global economy – particularly as a family. The Kohala Coast of Hawaii. The Greater Vancouver Board of What is the most important lesson through the work of the World Trade is fortunate to have 36 of you learned from your parents? Trade Centre. What is your favourite restaurant If you retired tomorrow, how our region’s top executives and Find a job that brings you joy, in Greater Vancouver? would you keep busy? business leaders on its board of work hard, make time to read, What is your creative outlet? We are lucky to have a Volunteer, teach yoga, cook directors. For more information on and stay close to your childhood Skiing, teaching yoga and multitude of superb spots in more complicated meals, and these exceptional individuals, visit friends. writing. Whistler and Vancouver. In ski. boardoftrade.com/directors. Vancouver, I always suggest
Welcome to some of our newest Members
Aerocar Service Concert Properties QuadReal Property Group Lesya Anna Adehl aerocar.ca concertproperties.com quadreal.com Shane Jensen
All In Order Suites Ltd. Dolphin Enterprises Quake Furniture Inc. Lejla Uzicanin allinordersuites.ca dolphinent.com quakefurniture.com Connie McLean Donna Sam Ashton College Filson Raicon Developments Inc. ashtoncollege.ca filson.com raicon.ca Peter Bardon Louise Liang Aslan Project Management Ltd. Genus Capital Management Inc. Stagevision Inc. Geri Prior aslanpro.com genuscap.com stagevision.com Sean Bickerton BC’s Women’s Hospital Harbour West Consulting Inc. STEMCELL Priya Singh & Health Centre Foundation hwest.ca stemcell.com bcwomensfoundation.org Graham Fair Hatfield Consultants Umi Sushi Express Inc. Shandele Cruickshank Brinkman Forest Ltd. hatfieldgroup.com umisushiexpress.com Suzette Costello brinkmanforest.ca Hemmera Envirochem Inc. Uniserve Communications Corporation Kari Karlsbjerg CETTEC Digital Imaging Inc. hemmera.com uniserve.com Paul Kenny cettec.ca Davina Bradshaw Hong Kong Airlines Vancouver Ticket Climate Smart Businesses Inc. hkairlines.com vancouverticket.com Edoye Porbeni climatesmartbusiness.com Ruby Banga Hospitality Designs hospitalitydesigns.com
Interested in membership opportunities for you or your business? Call 604-681-2111 or visit boardoftrade.com/join.
boardoftrade.com/join Greater Vancouver Board Of trade | Sounding Board | february 2018 women’s 6 leadership CIRCLE WLC
recognition | 2018 Wendy McDonald Diversity Awards
Nomination process is underway for the 2018 Wendy McDonald Diversity Awards
e n d y M c D o n a l d ’s McDonald was not only an advo- mantra, “focus on the cate for the Vancouver commun- Wissue, and the people ity through various initiatives, will come,” still holds its power- such as the Vancouver White- ful message five years after her caps, but she also left her mark passing. on the business world, becom- The Women’s Leadership Cir- ing the first female chair of The cle of the Greater Vancouver Vancouver Board of Trade in Board of Trade is proud to an- 1990. nounce the 4th annual Wendy Wendy McDonald’s talent, McDonald Diversity Awards. dedication, and leadership The awards aim to recognize were recognized when she was notable women - like the late named to the Order of Canada Wendy McDonald - and cham- and the Order of British Col- pions of women who have creat- umbia. She was the recipient ed a positive impact on business of more than a dozen honours strategy, diversity, and mentor- and awards, including Can- ship initiatives in the Lower adian Woman Entrepreneur nominee is a sponsor of divers- Recognizes a woman who has Women to Watch: Recognizes Mainland. Lifetime Achievement Award, ity and equality at an organ- become a successful job creator a woman under the age of 35, as Wendy McDonald was a pion- the RBC Canadian Woman izational level. This individual and significant contributor to of March 21, 2018, who has made eer among Vancouver women Entrepreneur Award, and the promotes change within their the economy of Greater Vancou- a difference in her organization, in leadership and business. Academy of Achievement Hall organization, field or industry ver through her entrepreneurial field, or industry, exhibiting un- Taking the reins of her family of Fame. In 2006 she received and leverages gender diversity initiatives. deniable promise. business upon the early death the Association of Women in to help advance their business Outstanding Mentor/Sponsor: If you know of individuals of her husband, not only did she Finance Lifetime Acievement strategy. Nominees of all gender This award acknowledges some- who fit the descriptions above, double the size of the company Award. are accepted for this award. one who has established a clear please submit your nomina- in a short period of time, she led The Greater Vancouver Board Community Catalyst: Recog- and direct mentoring or spon- tions by Thursday, March 1 at BC Bearing Engineers to become of Trade’s Women’s Leadership nizes a woman who has demon- soring relationship with one 9:00 a.m. SB an internationally-recognized Circle is seeking nominations strated a positive and tangible or more mentees and through name. During her 60 years as in the five award categories that impact or effected change in the these relationships, guided their For more information on the CEO, she was driven by the be- represent the many outstanding Greater Vancouver commun- mentees to significant career Wendy McDonald Awards, and lief that business is “all about qualities of Wendy McDonald. ity through her dedication and growth over their time together. to download the nomination relationships.” The categories are: leadership. Nominees of all gender are ac- application form please visit A true entrepreneur, Wendy Diversity Champion: The Entrepreneurial Innovation: cepted for this award. boardoftrade.com/wmda.
CALL FOR NOMINATIONS In accordance with Bylaw 9.5 — Nominating Committee — a Beyond NAFTA? Nominating Committee, chaired by Immediate Past Chair, Robin Silvester, has been established to receive nominations Safeguarding our Trading for directors for the 2018–19 year of the Greater Vancouver Board of Trade. Relationship In accordance with Bylaw 9.6 – Nominations – nominations for directors may be made in writing by any Member of the Greater Thursday, February 22, 2018 | 10:45 a.m. − 2 p.m. Vancouver Board of Trade. The call for nominations is currently Fairmont Hotel Vancouver, 900 West Georgia St., Vancouver open and will close Wednesday, February 28, 2018 at 5 p.m. The nomination package is available at: boardoftrade.com/nominations. Register today, boardoftrade.com/BeyondNAFTA For further information regarding the nomination process, please contact David Crawford, Vice President and Assistant Secretary-Treasurer, Greater Vancouver Board of Trade at: Preferred Media Partner: Presented in partnership with:
Tel: 604-640-5457 / Email: [email protected]
boardoftrade.com boardoftrade.com/BeyondNAFTA Greater Vancouver Board Of trade | Sounding Board | february 2018 around the board 7 in focus | Photos from recent events and activities at the Board of Trade
Hon. James Carr, Canada’s Minister of Natural Resources speaks to media at GVBOT’s annual Energy Forum on Nov. 30 | Pablo Su
Premier of Alberta, Hon. Rachel Notley delivers Vancouver Airport Authority President and CEO Craig Richmond takes a look ahead at YVR’s future during his annual GVBOT address on address at the Energy Forum on Nov. 30. | Pablo Su Jan. 23. | MATT BORCK
A panel of business and community leaders discuss the importance of our rural economy during GVBOT’s annual Economic Outlook Forum Presented by National Bank on Jan. 19 | MATT BORCK
Over 500 Members from 15 chambers came together on Jan. 11 in New Westminster for a night of Mark Collins, President and CEO, BC Ferries delivers his inaugural GVBOT unprecedented networking and fellowship. | MATT BORCK address on Dec. 5 talking about ‘Connecting Communities: Evolving our coastal ferry service’. | MATT BORCK
More photos at facebook.com/ Did you know the Greater Vancouver Board of Trade hosts nearly 130 speaker events, seminars, webinars, and networking receptions each year? boardoftrade Greater Vancouver Board Of trade | Sounding Board | february 2018 SMALL BUSINESS 8 COUNCIL SBC Entrepreneur | Capital Raising for Your Business in the Private Placement Market
BC Securities Commission provides guidance from those they do not know, outlining how common exemp- to small businesses on raising capital tions, such as the accredited investor exemption, offering mall businesses create professionals that attended memorandum exemption and jobs and make a signifi- the December 6, GVBOT Small crowdfunding exemption work. Scant contribution to B.C.’s Business Council workshop They also pointed out that once economy. They need money to learned as BCSC presenters a business has more than 50 start, maintain, and grow their Nazma Lee and Elliott Mak security holders (excluding operations. A large portion of discussed how to raise capital employees), they no longer small business funding comes and led an informative discus- qualify as a private issuer. A from entrepreneurs them- sion with attendees. key difference once a company selves and traditional funding Nazma and Elliott, both senior is no longer a private issuer is sources such as bank loans. At legal counsel in Corporate Fi- the requirement to report the some point, however, many nance, explained that the defin- sale of securities to the BCSC. businesses will turn to private ition of a security is quite broad, After the discussion of these investors. saying it is any document that exemptions, attendees re- As the government agency allows the holder to profit from viewed and discussed a new responsible for regulating the efforts of others and that fact pattern for the same fic- capital raising, securities trad- shows the holder’s interest in tional business the attendees ing, and investor protection in an entity. While small business L-R: Simon Lowe of WA-2!, John Hinze of BCSC, Christine Raphael of saw earlier. B.C., the BC Securities Com- owners looking to raise money Scotiabank, Nazma Lee of BCSC, Elliot Mak of BCSC, Hardeep Bains of Finally, Nazma and Elliott mission (BCSC) expects small from investors need to be aware Scotiabank discussed reporting and resale businesses using the private that securities laws may apply requirements as well as briefly placement market to conduct to their capital raising activ- mentioned exit strategies. their financings in a way that ities, they explained that, for two fictional small businesses. certain groups, as long as the After the session ended, Naz- respects and promotes market many businesses, there are And, BCSC mentors were avail- business has less than 50 secur- ma and Elliott stayed behind to integrity. At the same time, the exemptions from the prospec- able to assist all attendees in ity holders (excluding employ- speak and answer questions with BCSC wants to help businesses tus and continuous disclosure understanding and responding ees), without having to report individuals in attendance. SB find legitimate ways to raise requirements when raising to the questions set out in the to the BCSC. money in a timely and efficient money privately. fact patterns. The first fact pattern related to If you are interested in more way and avoid delays that can Participants at each table re- Participants learned how one using exemptions to obtain fi- details about how securities laws stem from not understanding ceived a fillable handout about of the most common exemp- nancing from people you know. apply to your capital raising activities, how the rules work. the various exemptions and tions – the private issuer Nazma and Elliott then dis- please refer to the BCSC’s Capital This was what 90 entrepre- Nazma and Elliott discussed exemption – allows business cussed what happens when Raising for Small Business Guide. neurs, business owners, and fact patterns relating to one of owners to raise money from businesses need to raise money http://bcsc.news/capraisingguide.
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