SMEs struggling to find new employees

Six in 10 entrepreneurs said labour shortages mean existing staff must work more, while 47% said they have had to raise wages

SMEs struggling to find new employeesWorker scarcity will remain a problem for Canadian small and medium-sized businesses for at least a decade, says a new report by the Business Development Bank of Canada. The report, released on Wednesday, said 39 per cent of SMEs are struggling to find new employees. “Labour shortages are affecting growth for many Canadian businesses, and…

Post-secondary tuition fees on the rise across Canada

But in Alberta, fees for undergraduate programs rose by just 0.1%; graduate program tuition was unchanged in the province

Post-secondary tuition fees on the rise across CanadaIt’s becoming more expensive to get a post-secondary education in Canada. Statistics Canada reported on Wednesday that tuition fees increased for undergraduate and graduate students for the 2018-2019 academic year. It said tuition for undergraduate programs for Canadian full-time students was, on average, $6,838 in 2018-2019, up 3.3 per cent from the previous academic year.…

Crescent Point Energy cutting 17% of its workforce

‘Our plan is designed to ensure we become a more focused and efficient company with a stronger balance sheet,’ says new CEO

Crescent Point Energy cutting 17% of its workforceCalgary-based energy company Crescent Point Energy has appointed a new president and chief executive officer, and plans to immediately reduce its workforce by 17 per cent. On Wednesday, the company announced the appointment of Craig Bryksa as president and CEO, as well as the adoption of “a new clearly defined transition plan with measurable deliverables.”…

Higher oil prices lead to lower merchandise trade deficit

The surprise reduction in the trade deficit because of higher oil prices actually masked more negative news for the Canadian economy

Higher oil prices lead to lower merchandise trade deficitCanada's merchandise trade deficit with the world narrowed from $743 million in June to $114 million in July, the smallest deficit since the most recent surplus in December 2016, says Statistics Canada. The federal agency said on Wednesday that total exports rose 0.8 per cent, mainly on higher crude oil prices, while total imports declined…

‘A true disruptor:’ Indochino changing the menswear landscape

Drew Green is ‘creating a superior alternative to off-the-rack clothing at ready-to-wear prices’

‘A true disruptor:’ Indochino changing the menswear landscapeDrew Green is president and CEO of Indochino. Calgary’s Business: How did Indochino get started? Green: Indochino has been built at scale, based on the belief that consumers don't need to spend a fortune on a custom wardrobe. We took the premium made-to-measure experience direct to the consumer, creating a superior alternative to off-the-rack clothing…

Workplace safety initiative launched ahead of cannabis legalization

Calgary-based company Cannabis Learning Series urging employers to be prepared

Workplace safety initiative launched ahead of cannabis legalizationA Calgary-based company is promoting a workplace safety campaign  in response to cannabis legalization, which comes into effect on Oct. 17. The Cannabis Learning Series, a workplace safety education initiative, is urging employers to focus on prevention and awareness in the midst of uncertainty from cannabis legalization. “With the legalization of recreational cannabis getting closer, it’s…

U.S. trade talks key to future value of Canadian dollar

TD Economics report says energy prices are playing a decreased role in the strength of the loonie

U.S. trade talks key to future value of Canadian dollarIn spite of a strong Canadian economy and rising domestic interest rates, the Canadian dollar has been trading at a discount relative to its fundamental value, largely due to trade risks, says a report by TD Economics. “Our empirical work shows that over the last few years, non-fundamental or idiosyncratic factors are influencing the loonie…

New immigrants becoming key entrepreneurs in Canada

The higher self-employment rate among immigrants is due in part to their inability to find a good job: StatsCan

New immigrants becoming key entrepreneurs in CanadaA report by Statistics Canada says recent research suggests that during new immigrants’ first few years of adjustment in Canada, their business ownership rates are below those of Canadian-born entrepreneurs, but after four to 10 years in Canada, the situation has reversed. The report, released on Thursday, said that in 2010, about 5.8 per cent…

Canadian economy grew in the second quarter

Second-quarter growth was mainly driven by a 2.9% increase in export volumes: StatsCan

Canadian economy grew in the second quarterCanadian real gross domestic product (GDP) growth accelerated to 0.7 per cent in the second quarter, following a 0.4 per cent gain in the first quarter, reported Statistics Canada on Thursday. “Growth was mainly driven by a 2.9 per cent increase in export volumes — the largest gain since the second quarter of 2014. Exports…

Creating harmonious spaces with soul in the home

Ana Cummings of ANA Interiors strives to combine a sense of purpose, style, beauty, art and culture in her work for homeowners

Creating harmonious spaces with soul in the homeAna Cummings is owner and principal designer of ANA Interiors. Calgary's Business: Tell me about ANA Interiors. How and when did it start? What do you do? Cummings: ANA Interiors is a multiple national-award-winning full-service design and decorating firm, which was incorporated in 2016. I had practised professionally for 10 years prior to that under…

Helping businesses navigate uncertain social media world

The research provides a better understanding of demand and customer networks, particularly for new products or services

Helping businesses navigate uncertain social media worldResearchers at the University of Calgary have created a mathematical model aimed at helping businesses navigate uncertainty caused by social media. “We developed a model to estimate demand for a new product or service considering the combined effects of three factors of choice: intrinsic preference – the perceived utility of a product or service to…

Ignore the advice of HR professionals at your peril

Melanie Peacock of Double M Training & Consulting talks about the value that HR staff bring to the workplace

Ignore the advice of HR professionals at your perilMelanie Peacock is sole proprietor of Double M Training & Consulting and is president of the Mount Royal Faculty Association. Calgary’s Business: How has the role of HR departments changed over the years? Peacock: Most people talk about how HR departments have become less administrative and more strategic. I've certainly witnessed this, as HR professionals…

Digital economy a booming business in Canada

$8.1 billion worth of digital products were purchased between July 2017 and June 2018 or an average of $412 per purchaser: StatsCan

Digital economy a booming business in CanadaNearly 80 per cent of Canadians aged 18 and older reported using free versions or purchasing digital products, such as music and video streaming services, e-books, online games, mobile applications (apps) and computer software from July 2017 to June 2018, says Statistics Canada. Over the same period, 28 per cent of adults in Canada reported…

Calgary college opening career path for women in tech industry

InnoTech College has introduced a bursary to encourage women to train in technology fields

Calgary college opening career path for women in tech industryA Calgary college is tackling the issue of gender equality in the tech industry by helping women train for jobs in that sector. “It’s no secret that women are under-represented in the technology sector,” said Julie Rubin, president of InnoTech College. “We are hearing from employers that it’s a challenge to find skilled tech talent.…

Getting to the essence of good leadership

Patty Miller of Influence Genius strives to empower leaders by showing them how important trust is in a work dynamic

Getting to the essence of good leadershipPatty Miller is president/coach/chief genius influencer of Influence Genius. Calgary’s Business: What is The Leadership Circle? Miller: I’m very proud to be a certified practitioner/coach of The Leadership Circle. It’s definitely a robust tool I use with leaders and executives. It’s a powerful 360-degree tool that clearly illuminates for leaders their strengths for leadership effectiveness…