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5 Business Links, Tuesday,April 20, 2010 START General Manager's Report ave you received your 2010 Buyers Guide? If you haven't yet received your copy or to order additional (free) copies, please contact the Chamber office. Did you know that only Chamber members are listed in the yellow pages? This is your assurance that you are dealing with a reputable business located in our community. If you would like your business to be listed in the Chamber directory, please contact our office Even though it's a year away, the Chamber is now working on the Halton Hills Home & Leisure Show for April 2011. Watch the Chamber website for details, or contact our office to subscribe to our eNewsletter. If your business accepts VISA/ MasterCard and/or debit cards and you are a member of Halton Hills Chamber make sure that you are receiving the low rates exclusive to Chamber members, for those transactions. Our current Chamber rates are $0.09 for each debit card transaction, 1.68% for VISA and 1.79% for MasterCard. Not sure what rates you're paying? Contact our TD Merchant Services representative Carolyn Fox at 226-979-4154 and she'll show you how much you could be saving. By taking advantage of this program, you'll make money on your membership! Another way to take advantage of your Chamber membership is to enrol in the H General Manager's Desk Sue Walker Chamber Group Health Plan. Whether you're a solo entrepreneur, home-based business or part of a larger firm, benefits are a very important part of your financial security. The Chambers Plan lays a solid foundation for that security, based on a benefit program designed specifically for you and your company! The Chamber's Plan pools your claims with other participants. Pooling gives you a financial buffer, a practical way of keeping premiums stable, even if your firm's claims fluctuate. With pooling, premiums for some Chambers Plan benefits haven't changed for more than a decade. For details contact Donna at the Chamber office. With summer holiday time fast approaching, don't forget to save this copy of BusinessLink to pack in your suitcase. Send us a picture of you reading this on your holiday and we'll feature you on the cover. Email your pictures to sue@haltonhillschamber.on.ca At Yorkshire Enterprises: Pick-Up & Delivery Available. Call to arrange a meeting. Your return is completed by tax professionals with more than 40 years of combined experience. You get our assurance of accuracy and maximum tax savings. Your return will be done while you wait. EFILE services are available. Graeme Goebelle, FCA (retired) A. Brian MacAdam, CA, CFP David Alexander, CA Melanie McCracken, CA Ron Starret, CA Anne Starret, CA Darren Turcotte, CA, CPA Tracey Bastedo, CA James Raptopulos, CA Sarah, Marion, Joanne, Christine & Liz Yorkshire Enterprises Inc. Located at: Knolcrest Centre 360 Guelph St., Unit 47 Georgetown, ON L7G 4B5 Call: 905-873-2697 Email: info@yorkshirent.com www.yorkshirent.com 37 Main Street South, Suite 201 Tel: (905) 877-5155 Georgetown, Ontario Fax: (905) 877-5905 L7G 3G2 Toll Free: (866) 554-2030 www.gmallp.com Is it Cheaper to Import? Written By: Laurie Turnbull, CITT, P.MM, The Cole Group, 905.501.1150 F requently importers are swayed by low prices available from offshore suppliers. In many cases importing from low-cost labour countries is very effective at lowering costs, as witnessed by the endless array of foreign-produced goods at local retailers. But out-of-country sourcing may not always be the most effective solution when you consider a total landed cost analysis. Selecting an offshore vendor for a 20% cost advantage may seem like an attractive opportunity, but consider that you may have to increase your order size to a larger minimum quantity, resulting in excess safety stock, which incurs additional inventory carrying costs. Also, your transportationrelated costs might easily double even triple over a longer journey. Imported goods are also handled many times, increasing the chances of damage or loss. Negotiating freight claims with foreign suppliers can be difficult, necessitating a formal buyer-seller agreement on how claims will be resolved. Quality is also something to be considered; it probably won't be cost effective to return goods of poor quality. And even if the foreign supplier issues a credit, the goods will have to be sold at a lower price or disposed of, impacting profit. Time-to-market for replacement goods must also be taken into account, and the impact shortages can have on customer service while waiting for saleable product. Canada's evolving regulatory environment can also pose significant difficulties. New Customs regulations make it imperative that Canadian companies are familiar with the rules related to importing goods, particularly since Customs can enforce those rules with monetary penalties, often based on a percentage of the value declared for duty. With longer overall time-to-market however, the need to increase inventory may be unavoidable, resulting in lower inventory turns and longer cash-to-cash cycles. All of these cost factors should be taken into account when considering sources of foreign supply. 49 Commerce Cres., Acton, Ontario L7J 2X2 CHARTERED ACCOUNTANTS - MANAGEMENT CONSULTANTS Corporate / Personal Tax Returns Financial Statements Bookkeeping / Payroll Services Audits / Reviews Tax Planning Profit Coaching Now Accepting New Clients 519-853-3540 visit our website: www.galvcast.net A Wealth of Investment Expertise in Halton Hills. ·Retirement Planning, RRSPs, RRIFs ·Mutual Funds, Stocks, Segregated Funds ·GICs, Bonds ·Fee-based Managed Accounts 905-873-8837 416-360-OTAX www.btpc.ca 202 Mountainview Georgetown, L7G 4B5 4K1 348- 16 Guelph St., Unit Rd., #4,S., Georgetown L7G JOHN A. GIBSON Chartered Accountant R. Scott Becksted, BES Wealth Advisor (905) 873-6640 or (905) 796-5024 Toll Free: 1-800-263-2454 Fax: (905) 450-6343 scott_becksted@scotiamcleod.com www.advisors.scotiamcleod.com/sbecksted Financial Statement Preparation Small Business Accounting Personal Tax Returns 905-873-0996 10 MOUNTAINVIEW RD. S., SUITE 203 ScotiaMcLeod is a division of Scotia Capital Inc., a member of the Scotiabank Group. (MOUNTAINVIEW & GUELPH)