THE VOICE OF BUSINESS IN MISSISSAUGA VOLUME 14 ISSUE 1 WINTER 2019 BILL 47 MAKING ONTARIO OPEN FOR BUSINESS ACT NOW THE LAW 08 10 THE UPCOMING POLITICAL Page 18 EVENTS ROUND UP www.mbot.com @mbotontario The best way to support a community is to be a part of it. There’s no better place to start making a difference than close to home. For that reason, we’re actively involved in our local communities through partnerships like the Mississauga Board of Trade. ® / ™ Trademark(s) of Royal Bank of Canada. VPS102944 90780 (11/2018) ContentsVOLUME 14 ISSUE 1 | WINTER 2019 Articles 18 Bill 47 - Making Ontario Open for Business Act, Now the Law 23 The Transition Rules Under the Construction Act 26 Financial Losses Resulting from LRT Construction 29 Building Business Value Through Exit Planning 30 Compelling Value Emerges in Canadian Preferred Shares 33 Reforms Employment and Labour Laws 34 The Future of Office Space 35 Want An Infinite Return on Investment? Go Green 38 Engage Talent to Maximize Business Performance 39 The Art of Business 40 Pragmatic Solutions for the GTHA’s Transportation Woes G LF .................................................... CLASSIC 24-25 PAST EVENTS BOAR GA D COVERAGE U O A F S T S R 31 I BUSINESS A S D S AWARDS OF I EXCELLENCE E MBOT IN THE M 2018 WINNERS BUSINESS COMMUNITY DETAILS 21 In 05 Chair’s Message DETAILS 22 this 07 President’s Message issue 08 Upcoming Events FEB 7 10 The Political Round Up 16 MBOT Referral Program CHAIR’S 36 Committees & Forums Luncheon & 42 Affinity Savings & Discounts Reception 43 New Members ........................................ 2019 BOARD OF THE VOICE OF BUSINESS DIRECTORS IN MISSISSAUGA Established in 1961, Mississauga Board of Trade proudly serves as a the Chamber EXECUTIVE COMMITTEE: of Commerce for the sixth largest city in Canada – the third largest city in Ontario. • Jim Molyneux, MNP | Chair Mississauga Board of Trade represents • Susanne Balpataky, Speigel Nichols Fox LLP | Vice-Chair all businesses in Mississauga. MBOT’s large, diverse and active membership has • Ken Tencer, Syderworks | Vice-Chair made us one of the most vibrant business associations in Canada. As the “Voice of • Mary Ann Wenzler-Wiebe, BDC | Treasurer Business” we advocate on policy issues • Paul Gaspar, UPS Canada | Immediate Past Chair that impact local business at all levels of government, and are influential in helping • Steve Rhone, Weston Forest Products to shape policy decisions. MBOT also • Lucie Shaw, Nurse Next Door offers a wide variety of valuable business services and professional development • David Wojcik, MBOT-President & CEO (Ex-officio) programs, networking events and marketing opportunities, to help business grow, prosper, and get connected. DIRECTORS: Publisher: • Sandy McKean, Sheridan College David Wojcik • Macarena Sierra, University of Toronto Mississauga President & CEO [email protected] • Michael Szymanski, Unifirst Canada Ltd. • Steve D’Agostino, Avega Editor: Bahaar Sachdeva • Linda Kern, The Kern Group Inc. Brand & Communication Manager • Parveen Dhupar, BTI Brands [email protected] • Ellen McGregor, Fielding Environmental Design & Layout: • Amy Delisle, Keyser Mason Ball LLP Bahaar Sachdeva [email protected] • Ryan Avery, TD Commercial Bank • Sameer Sharma, Crown Group Advertising Inquires: Sonia Ojha, Hiliary Jewer & Solange Barcena • Adam Nowak, Gallagher Insurance [email protected] • Eileen Waechter, Greater Toronto Airport Authority Printing: Jamnik Graphics www.jamnikgraphics.com ADVERTISING INQUIRIES: Sonia Ojha at [email protected] Distribution: Hiliary Jewer at [email protected] Katika Integrated Communications Inc. www.katika.com Solange Barcena at [email protected] Bahaar Sachdeva at [email protected] Photo Credit: EDITORIAL INQUIRIES: John Goldstein, Andrea Marchant 701-77 City Centre Drive Mississauga, ON L5B 1M5 ADVERTISERS INDEX Bereskin & Parr 41 The Canadian Payroll Association 22 T: (905) 273 6151 Exit Planning Group 44 MDD Forensic Accountants 27 E: [email protected] Insuranceland 06 Future Offices 34 W: www.mbot.com JD Factors 20 Colliers International 20 Keyser Mason Ball LLC 08 Mellohawk Logistics 37 mbotontario Pallett Valo 32 The Achievement Centre 13 Royal Bank of Canada 02 © 2019. All rights reserved. No part of this publication may be reproduced or copied in part or as a whole, without the prior written permission of the Mississauga Board of Trade (MBOT). Advertising content and the comments, views and opinions expressed herein are those of contributors and do not necessarily constitute endorsement by MBOT. Publication Agreement Number 40012444. FROM OUR CHAIR SUPPORTING LOCAL ENTREPRENEURS understandably tend to pursue ideas An established network of thriving only if they believe there is the tangible entrepreneurs is a strong indicator of potential for success. To achieve their the economic health of a city. These goals, entrepreneurs require the individuals not only support and invest in necessary skillset and knowledge to our communities but provide a source of run their business and must have the employment and so the market depends proper supports in place. This is where on entrepreneurs to stimulate economic the Mississauga Board of Trade (MBOT) growth. In good times and bad, we need comes in. to support established and emerging business owners – for their own good We’re in a fortunate position at MBOT and for the good of our communities. to be the voice of local entrepreneurs, The need for entrepreneurship is advocating for policies and incentives pervasive. that support their innovation and investment. Whether this means At MNP, where I am the Regional raising the profile of our members Managing Partner for Peel, throughout the local community and entrepreneurship is one of our core beyond, increasing our membership, or values. We encourage our team advocating for our economic needs to members to take calculated risks, bring local, provincial or national governments; fresh ideas to the table and design championing their contributions (and their careers as they would their own ours) will ultimately lead to better short business. Through initiatives such as our and long-term economic outcomes for MNP Future Leaders program, which our community. provides mentorship opportunities for our young business leaders of tomorrow, As incoming Chair, I’m encouraged we’re encouraged by the potential for by the work we’re doing at MBOT. But this value to trickle down to future there’s still so much more we can do. It generations. begins with acknowledging our position to write a new narrative – we must work Jim Molyneux However, with the inherent risks together to close the gaps limiting the 2019 MBOT Chair and uncertainty associated with success of entrepreneurs, otherwise we MNP bootstrapping your own business, risk preventing business owners from innovators and enterprising professionals reaching their full potential. CONNECT | 2019 ISSUE 1 05 15%OFF ARE YOU COVERED? CALL NOW 905-238-0668 x 2326 for a FREE QUOTE! Save up to 37% with your GROUP EXCLUSIVE DISCOUNT HOME & AUTO Insurance Program for MBOT Members! File Down Your Insurance Rates NOT Your Coverage! "QUOTES FEEDING FAMILIES!” For every quote, We will Donate $5 on your behalf to The Mississauga Food Bank insurancelandinc www.insuranceland.ca/mbot insurancelandca FROM OUR PRESIDENT acceptable to us, may be offensive in other cultures. Example: Never use the THE FUTURE OF OK sign in Brazil. BUSINESS ETIQUETTE INTERNATIONAL Bribery is frowned upon in Canada and is considered a poor business practise. However, in other countries, it is a common place and in certain TRADE circumstances, expected. MARKET MISUNDERSTANDING FOR CANADIAN Consumer markets are fickle and what is a success in one country can be a complete failure in another. BUSINESS GOVERNMENT Unstable governments can provide huge opportunity but are rarely from the USA than we export to our sustainable. southern neighbour. RED TAPE Understanding the red tape in our With all this good will, freely moving own country is a full-time occupation. across the worlds longest undefended Interpreting bureaucratic burden in a international border, why do we sit in foreign country can be crippling. fear of the unreflective ramblings of the TRANSPORTATION current administration in Washington? Moving goods a few hundred miles vs. a few thousand miles can add multiple No one has a good answer. Is it layers of cost. Certain goods are better because our businesses have become manufactured in a foreign market complacent because of this massive rather than made domestically and then market literally next door to us? Is it shipped. because we haven’t “fished out” the pond of our own domestic market? Or PROXIMITY David Wojcik is it the fear of the unknown? Being a short drive or plane ride President & CEO to your market and customer is Mississauga Board of Trade According to the former Ontario always beneficial. We need to Minister for International Trade, only 7% look to technology to bridge the of Ontario SMEs participate in any form communication gap with overseas of international trade. markets. Canada has fourteen existing PARTNERS free trade agreements with nine Finding the right partner to navigate in negotiations and two pending Let’s breakdown some of the reasons why. a foreign market may be essential to implementation. Canada also has over LANGUAGE exploring new opportunities. 161 Trade Commissioner offices around There is no question, language can the globe. Within these Federal offices be a critical barrier to establishing Over the course of the next several are provincial offices dedicated to a relationship with an international issues, we will take a deeper dive into helping Ontario business succeed in partner or customer. these issues and examine the perils of foreign markets. international trade. Fear of the unknown LAWS can be conquered with education and Canada is the number one trading We are very familiar with common law understanding. partner with 35 U.S. States. We export practice. This is not the case in other 20% of our GDP to the United States. markets and this leads to uncertainty in Who knows? Your product or service The statistics prove that Canada is in a resolving conflict.