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Small business driving recovery-CIBC executive By ANGELA BLACKBURN Oakville Beaver Staff Cooperation is the name of the president for Comercial Banking, ( Solar pool heating systems now on sale for the month of April. Do-it-yourself packages using the high efficiency TECHNO- SOLIS solar panel (50% more heat than from rubber systems) Ptices start at $999.00 plus taxes for 12' x M' pools, $1,399.00 plus, for 16' x 32' pools. Call us! Solar Evaluation Services Inc. (416) 844-1116 APRIL SOLAR SALE! Bring a little sunshine into dyour July by registering now to host a stu ent from Spain. Introduce your family to a new language and culture and have fun participating in some of our great extracurricular activities. For more information, please call: Debbie McDermott Oakville Coordinator FORECAST FORJULY Sunny, Sultry and Spanish CHISHOLM EDUCATIONAL CENTRES M THE LANGUAGE WORKSHOP Improves grades and confidence! In our rogressive and competitive world, children need an ed e. ChishoEm Centre helps to provide that edge with a professionagand caring staff who are experts in building fundamental skills in English and Mathematics. Our after-school program for elementary and secondary students has assisted students for over twenty years. Our summer school program allows students to combine their personal summer enjoyment with a highly structured curriculum that is designed to meet their individual needs. If you require assessment services to understand the difficulties that lfl,,le child is facing, we provide them through Dr. Howard A. ernstein & Associates, C.Psych. (HEN OAKS MEMORIAL GARDENS Mississauga/Oaks/k 257A100 School Success!!! $80 remuneration per week " . chad peace we "tttit/tgg/getty/hit, amtmienttime ')e'.2fifl'llydpth0yum "tttgit tuidedysuiththebeMit knowing t7ttt',tlt/li,etttit'f uillrirbepubjstdiilatitn,Reeliminatat t.het.haneiaireendiigandnduarithe burdenauiurjimiilrneiihem" A is theLiif cmdPIe-P [2itiftitgtied PEACE OF MIND IS) Oakville. 4401nglehart Street, Oakville, 844-3240 845-9407 BUSINESS & FINANCE le game for the future, ClBC executive-vice Canada. John Bowden told a breakfast meet. 'dedicated to the 0(th $0 phn - -Vsi2ow M" " 1$ltto1luhrlir+hmllWltlMt mm Hm mmussmu . Hm mums rm "mm cums-WEE Mlimf nus " SHIP [IVE f8mlWihElh(4N)$$ll ms 6TH ANNUAL 'rtctTeeri::t" BINGO WIN CASH - PRIZES 6900 AIRPORT RO MUSSISSAUGA Gouda HE OAKVILLE BEAVER I hge, "One of the reasons this recession was felt so intensely in Central Canada, especially, is that we were poorly prepared for it. We had enjoyed 20 years on an economic easy street and had grown fat and lazy. There had been no economic weeding of the unit," he said. Tthe recession hit as the economy was shifting to the information era. global Looking to a greatly changed economic future that's already at our doorsteps with global competition, technological advancement and excessive debt accu- mulation, Bowden said, "These challenges and obstacles are too firmly entrenched in our economic fabric to be solved by a new prime minister or a sin- gle interest group. It has to be solved by all of us." The CIBC executive said we have survived the worst economic recession since the 1930s. With record levels of bankruptcies and economic pain and suffering "on a scale few of us have experienced", Bowden said recessions have been said to be necessary to strengthen the economy by weeding out the sick, weak and poorly managed companies, even forcing strong companies to improve. Bowden quoted Calvin Coolidge who once predicted "Business will be bet- ter...or worse" and said, "For me, Coolidge was underlining the point that we're all in this together. For better or for worse, business, labor, government and edu- cation must rely on each other to prosper together, and to weather economic storms together." ing at Oakville's Deerfield Golf and Recreation Centre Wednesday. "No longer does any one industry or group - not even banks or government - have the power to twrst tomorrow to their own advantage. Today, the only advantage lies in partnership." About 160 pe,opl,e representing Halton businesses and education institutions were at Wednesday s breakfast meeting hosted by Halton's Industry Education Council (HIEC). Bowden said he was preaching to the converted since HIEC is a cooperative effort among Halton's local school boards, Sheridan College, business and industry towards the Partnerships he was advocating. T-COMM is the largest network of independent travel agencies in Canada. The assurance of quality service to the travelling public through observance of supplier product and ongoing government involvement is the primary role of the Association. Bruce Hood Milton Travel received two awards at the annual func- tion from Sunquest Vacations - in recognition as one of their top pro- ducers; and from Voyageur Insurance. Bruce Hood, owner/operator of Bruce Hood Milton Travel was elected president of T-COMM/A Travel Communication Association Inc.. at the Annual General Meeting. The Association - representing over 200 travel agencies from across Ontario - held its l0th Annual Meeting in Nassau, Bahamas. Hood's agency has been a member since 1985. and he has served in a variety of executive positions during that time. Paul Sterile. managing partner and president. Royal Trust Investment Services will be hosting I Wed., May 12th seminar in Olkville on... The Recovery - "Enjoy the party but stay close to the door". He will provide advice on how, when, and where to invest your money. The meeting will take place at 7:30 pm.. at the Holiday Inn. 360 Iroquois Show Rd. Call Joy Win at 844-077! for msetvttions. Royal Trust investment seminar Travel retailer wins awards WEDNESDAY, MAY 5th, 2:00 p.m.-7:00 p.m. SPREAD Sheet COME VISIT os AT OUR communications and global competition, Bowden said the recession has "seen a basic restructuring, a fundamental change in our economic fabric." And he chal- lenged business people to "be daring, be first and be different" to "Make dust or eat dust". "To be successful, you need to do more. We forgot some of the fundamen- tals in the 70s and 80s but they hit us and they will continue to hit home again in the 90s. Knowing your customers, being customer driven, must be more than just words, more than just a slogan. It must be The banker used his own company as one that can't exempt itself from change. Bowden predicted successful companies will make substantial investments in worker education and finance it through gains from greater productivity and tighter cost control. The banker acknowledged restructuring hit all industries from manufacturing to retailing and high tech companies. "Although this restructuring is not yet complete, it is clear the survivors will have to change the fundamental way they do business. If you can't deliver value to your customers, quality and service at a competitive price, you will not sur- vive. In today 's jungle, the herd cannot defend you," said Bowden. Looking to commercial, business banking, Bowden said there is good news. He noted small business employs 40% of all Canadians and in the past decade has created 80% of all new jobs. In Oakville, approximately 75% of businesses have 10 employees or less. “The role of small business as an economic catalyst, tax source and employ- ment source seems destined to increase as niche markets multiply and large businesses subcontract more and more work out," said Bowden. Bowden noted with large corporations often in troubled times, banks are rediscovering the value of the smaller business clientele, a push that will bring increased choice, products, better service and lower prices for customers. it Whitehead noted business people claim they don't see growth around them and they're right. "Almost all of the recovery we've seen so far has come from exports; domestic demand remains very flat," said Whitehead. Consumers and busi- nesses remain skeptical and are focused on paying down debt. The economist said Canada's economy grew 1% in 1992 and is expect- ed to grow 3% in 1993, a "sluggish" rate compared to earlier recoveries. Expectations don't spell relief on the job front. "We don't expect such a weak recovery to generate many new jobs. As a consequence. the unemployment rate is likely to remain disturbingly high, at about 11% this year," he said. "The worst is behind us", Tim Whitehead, Canadian Imperial Bank of Commerce (ClBC) economist told I60 Halton business people and educa- tors at a Wednesday breakfast meeting in Oakville. "The best description seems to be "Same as before, just a little more so." Whitehead, ClBC general manager and regional economist said at the Deerfield Golf and Recreation Centre breakfast hosted by Halton's Industry Education Council (HIEC). "The good news is the recession is over. The bad news is that the recov- ery doesn't look much different," said Whitehead. "The current recovery will take a while to gain some steam. As the pace quickens " probably in the fall - interest rates will probably begin to rise but only slightly because inflation is expected to remain low. I think the worst is behind us," said Whitehead. CIBC economist has warning: recovery won't mean new jobs The CIBC has loans of some $22 billion in this sector and hopes to build on nore than Just a slogan. It must be a way of doing business," he said. banker used his own company as one that can't exempt itself from WEDNESDAY, APRIL 28, 1993 PA GE JO ..,' mc‘ro = féa “Pi?! Its'. ' ( x3 of 7b(sii) " 'n. L . Kr - M WHERE 'f PAT? 139 Thomas St., Oakville ---, ,, ,649-filL A _ YC: A scitiiii,vrciihrs JOHN BOWDEN PAT VAN DURME VI . say Nay mama t V from moo-woo cn 1atTheBurli ton. M _ “K Central Lions 81511bHa11 I j, "7js, RaTLtStTeet l ur . Ort . ir _ Sir M03133 i (dist MU“ 13095141 Donations (hate Acre ea (ttt 'g2gttftit,,tt,etc, l /Treatmtmh CentreCCAiC) t Tifianne 3\ NOW AT fe, CRAFT F Q“ mm 5 " ixif recession was felt so intensely in Central Canada, especially, is that we were poorly prepared for it." “One of the reasons this .an "boo 1 gran, V i sllall at l othcré i ul 01