Business News

This page will feature articles or websites of interest to business owners, employees or business start-ups.

Success Stories

At our 125th Annual General Meeting in April 2015 five success stories were profiled in a fast-paced, roving-mic open panel format featuring Kevin Evans.  Click here to view the video.

YouTube Video


Policy Alert | New Law to Protect the Personal Information of Canadians Online

June 18, 2015, the Government of Canada passed legislation amending the Personal Information Protection and Electronic Documents Act (PIPEDA). The Digital Privacy Act is now law except for sections that require regulatory measures. These amendments to PIPEDA will impact every organization (businesses and not-for profits) that collects or stores personal information of employees or clients.

Key changes under the Digital Privacy Act:
•    Organizations are required to inform consumers when their personal information has been lost or stolen, ensuring that consumers can act to protect themselves when they shop online. Companies that cover up a data breach, or that deliberately fail to notify affected individuals and the Privacy Commissioner, could face fines of up to $100,000.
•    Companies need to use clear, simple language when communicating to ensure that vulnerable Canadians, particularly children, fully understand the potential consequences of providing their personal information online.
•    Common sense changes are being made that recognize the need for businesses to use personal information to conduct normal everyday activities. Barriers are also being removed to enable the sharing of information when it is in the public interest, such as to detect financial abuse or to communicate with the parents of an injured child.
•    The Privacy Commissioner of Canada has improved powers to enforce compliance, making the Office of the Privacy Commissioner more flexible and effective in protecting the rights of Canadians in the changing digital world.
The measures related to breach notification will not come into force until regulations have been adopted, which will take several months.

For more information, please consult:
•    The news release from the Government of Canada
•    The legislative summary of the law
•    The full text of the Digital Privacy Act
Compliance information and recommendations will follow in the coming weeks. In the meantime, if you have any questions, please contact Scott Smith, Director, Intellectual Property and Innovation Policy.


May Membership Luncheon – Helmut Pastrick (Bio)

In May 2015 Helmut Pastrick, Chief Economist for Central 1 Credit Union, was our guest speaker. His talk was an overview of the current economic scene internationally, nationally and locally. To view his presentation, click here.


Canadian Anti-Spam Legislation (CASL)

Canada’s anti-spam legislation (CASL) is in place to protect Canadians while ensuring that businesses can continue to compete in the global marketplace. If you use electronic channels to promote or market your organization, products or services, Canada’s new anti-spam law may affect you. It is your duty to understand and comply with the law.

Visit Industry Canada’s website for accurate information on the legislation.

For information on how this legislation affects all registered charities and non-profits, visit the Imagine Canada website.

The Canadian Chamber of Commerce has a number of resources to help understand the impact of the anti-spam  legislation.


CRA/ARC: Introducing the CRA’s audit video series and updated business audit webpage

Being audited by the CRA can be overwhelming, especially when you don’t know what to expect. That’s why we created this three-part video series for small and medium-sized businesses to explain the process, and to talk about your rights and responsibilities.

Watch one, or watch all three:
Video 1: Why do we audit and what is a tax audit?
Video 2: What are your responsibilities and what happens during an audit?
Video 3: What are your rights?

We have also updated the business audit webpage to give you all the information you need to know about audits, such as how businesses get selected for audits and how we conduct audits. Explore our revised webpage: www.cra.gc.ca/audit.

Don’t forget you can access all our e-services for businesses at www.cra.gc.ca/businessonline.

Stay connected
To receive updates when new information is added to our website, you can:
•      Follow the CRA on Twitter – @CanRevAgency.
•      Subscribe to a CRA electronic mailing list.
•      Add our RSS feeds to your feed reader.
You can also watch our tax-related videos on YouTube.


Your Guide to Innovation

On December 2nd, the federal government announced a new service that allows businesses easy access to government innovation assistance programs that help them develop and bring their products and services to market more quickly. The entire service is intended to assist entrepreneurs reach their desired objectives.

By combining online, phone, and in-person assistance, the Concierge Service provides a single point of contact. Delivered by the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP), this new service will complement NRC’s existing array of innovation support, strategic research, and scientific and technical services. To take advantage of the Concierge service, businesses can visit Concierge.portal.gc.ca or call at 1-855-534-8433.


Small Business Profile 2014

Across BC, 98 percent of businesses are small businesses, employing more than a million British Columbians.  Businesses are the engine of our economy and during the 8th Annual Small Business Month the Government of British Columbia has just released the Small Business Profile 2014:  A Profile of Small Business in British Columbia.

Small Business Profile 2014 was compiled and analyzed by BC Stats, using data from Statistics Canada.  It examines key economic trends, and highlights the power of the small business sector to create jobs for British Columbia families, and drive the economy of the Province.


How to be Fraud Aware

A How to Guide for Recognizing & Reporting Frauds & Scams To Businesses – Nanaimo RCMP

Business Fraud Awareness Tips – click here

Reporting Scams and Frauds – http://www.rcmp-grc.gc.ca/scams-fraudes/rep-sig-eng.htm


CRA/ARC – New video: Enhancing service to businesses

Recently, the CRA launched a new video, Enhancing Service to Businesses, that provides useful information for business owners on a variety of initiatives aimed at cutting red tape.

To see the collection of videos for businesses, go to www.cra.gc.ca/videogallery.


Interesting Business Information & Articles

Preparing to launch a new business in BC?

A useful BDC guide for entrepreneurs seeking a loan from their bank.

Staples – easyblog

Cloud computing in your forecast? This link leads to an article by the Privacy Commissioner with a guide to cloud computing.

Robert Smithson is a labour and employment lawyer, and operates Smithson Employment Law in Kelowna. For more information about his practice, or to subscribe to You Work Here, visit http://www.smithsonlaw.ca This subject matter is provided for general informational purposes only and is not intended as legal advice. His weekly columns are always informative and often entertaining.

These articles are courtesy of the Women’s Enterprise Centre
Before buying a business, be sure to complete this checklist.
Thinking of Buying a Business? Buyer Beware.
Addressing and Creating a Product Need
Starting Your Business Guide
What is Market Research & What Can it Do For You?


BC Progress Board

The BC Progress Board is an independent panel of up to 18 business executives and academic leaders established by Premier Gordon Campbell in July 2001 to competitively benchmark BC’s economic, environmental and social progress over time and relative to other jurisdictions. The Board also advises on ways to improve economic performance and social well-being.

The BC Progress Board produces Benchmark reports that describe the province’s economic growth, standard of living, job performance, environmental quality, health outcomes, and social condition. They also produce periodic Advisory Reports on topics such as productivity, social condition, education, crime and energy. In addition, benchmark reports contain short topic boxes on items of interest. Several topic boxes on low income plus the results of additional research are gathered here.


Music Licensing

Music is one of the truly universal things that make people all over the world feel good. It also sells ideas, services and products. The value of music to business owners is obvious and, in some cases, integral to their success. If you use music, live or recorded, in your business or for your event please click on this link for licensing information as it is Federal Copyright Law.www.socan.ca