P, 1 t < 1 - . Yflf -,,-WEpWEPDYý f[ZyW ~7,1990 ~e M Advisor, boards, provide sound advice Dick Pearce, president of Canadian Air Compressor Ltd., needs no convincing- that a board of advisors is sound backup for his small business. Nearly 10 years ago, Pearce recruited three Office of the President "You asked for my advice; it's not my fault if you didn't like it!" friends from his university days to sit on his company board. These outside businessmen have met regularly over the years with Pearce and company officials to discuss strategic developments at Canadian Air Compressor. In no small way, the board members have contributed significantly to the overall success of the firm, which has plants in Toronto and Montreal and employs 40 people. Pearce has been able to tap the knowledge and contacts of seasoned business people who have experienced problems that are similar to his, although on a difference scale and in other fields. "The board has been especially helpful in the area of financial forecasting. The company has recently experienced a period of rapid expansion and the advice I received was really useful," says Pearce. At each board meeting, current financial statements and developments are discussed openly and candidly. Only through open discussion does Pearce feel he benefits from the more objective view of his colleagues. "Unfortunately, most people who run their own business don't want to let others know how they're doing " says Pearce. Entrepreneurs, such as Pearce, who use a board of-directors are still the exception in Canada. But the idea is slowly catching on. "There is a growing trend among smaller and family-owned business for the outside view," says Phil Daniels, a partner in the management consulting firm of Stevenson Kellogg Ernst & Whinney. He says that opting for a board of directors -- or a board of advsiors, which is more common in privately-held firms -- can provide extra managerial expertise. Your own situation should dictate the specific talents you seek. If, for example, tax matters are muddled, go for a tax expert. Most outside advisors receive an honorarium -- at leaýt $100 per person per meeting. For the advisor, there's another in'centive. The change to look into the internal operations of another company can increase his or her own business sense. But finding committed advisors can be difficult. Your auditor can't join the board because it's deemed to be a conflict of interest by the national professional bo Your banker is likely to be un e to help for similar reasons -- he or she needs permission from the bank's board of directors and that's unlikely to be given. Your lawyer may regard sitting on the board as usurping his . or her efforts to sell you legal advice. And some people shy away from the invitation because they believe being a board member can be fraught with legal and financial risks. (Owner-managers of private companies can avoid most of the liability by opting for a board of advisors, rather than a formal board of directors, because it is seen strictly as a consulting body whose counsel is not legally binding.) Phil Daniels suggests that entrepreneurs and managers are most likely to accept board invitations. Retired executives, in particular, have accumulated 'a wealth of knowledge that could be put to good use. "Go to your business contacts -- through service clubs, business associations, or whatever -- and get the word out that you're looking for some good people," says Daniels. Clow heads up tourist bureau Rick Clow, areas manager of the Central Lake Ontario Conservation Authority, became the new president of the Tourist Association of Durham Region at the annual general meeting held recently. "We are enteringa new decade and many important opportunities will be before us in the next few years. Tourism will play an important role in the local economy. We have the potential in Durham Region, it is just a case of taking the time and effort to tap this vital resource," said Clow. "The executive of TADR is going to be busy over the next couple months preparing for this year's events. We have a literature swap planned, a 1990 Marketplace, training seminars and other special events which promise to be exciting and interesting. "As well, the association will continue to serve as a great network for local businesses involved in the tourism industry. I would like to stress the importance of the board's participation, if everyone gives a little of their time and cooperation it will assist us in meeting oür goals today and in the-future.?' Anyone interested in joining the tourist association, or wanting information, should contact Parkwood Estate, 270 Simcoe St. N., Oshawa, Ontario, L1G 4T5 or call (416) 579-1311. Accounting firm merger mireanexperenced & collection ~ana er n areglilar or part time basis. maaero WASTE RECEPTACLES We sell receptacles - plastic or metal; stationary or mobile; large or small; indoor or outdoor; household or industrial: for practically any use, in a wide variety of colourà . We are Rubbermaid's largest industrial distributor in Eastern Ontario. These receptacles are designed not to crack or break when they freeze or to dent when they're kicked. Rubbermaid receptacles look good wherever they're used - whether it's your kitchen or the local shopping mall. Come on in to Region's most display. our Clean-It Centre. We have Durham complete line of waste receptacles on MAINTENANCE LTD. 500 HOPKINS ST., WHITBY 666-1224 Mon. to Fri.: 8am - 5pm Sat.: 9am - lpm The partners and staff of Deloitte Haskins & Sells recently marked the official launch of the merger of their firn and Touche Ross. The combined firn is called Deloitte & Touche. Office managing partner, Gor- don F. Sedgewick, said that the merger strengthens the firm's ability to serve clients in the increasingly complex business environment of the '90s. "Complicated tax legisiation, rapidiy evolving technoogy, and a new international trade agree- ments are affecting the ope- rations of every business,no matter how bi or small the business is, an by combining our practises, wetare confident that we have the depth of resources and breadth of skills to belp our clientsmeet the chal- lenges of the new decade, said Sedgewick. Deloitte & Touche is Oshawas largest firn of chartered accoun- tants and management consul- tants, with a combined staff of 55, includingfive partners. The physical merger of the practises in Canada will take place gradually tb ensure con- tinuity in client service. Partners and key professional staff will continue to serve their current clients. The Oshawa office will continue te operate from'its existin offices. Deloitte & Touche employs 5,500 staff in more than 75 centres across the country. Through DRT International, Deloitte & Touche is connected t> a global network of member firms employing 55,000 staff in more than 80 countries. Expanded commercial may be proposed Monarch Construction has rev- ised plans te accommodate an expanded commercial complex at the northwest corner of Hilwy2 and DHillier St. in Whitby. Monarch has asked that their current file of applicaton to amend Durham on s and Whitby's official plans De closed. New Chunese restaurant By Scott Laurie Canaan Chinese Restaurant recently opened on the northeast corner of Thickson Rd. and Dun- das St. E. in Whitby, the seventh location for the Canaan group in Ontario which started roughly seven years ago in Pickering. The new restaurant features main Chinese fare with a few Canadian dishes also available. There is an «all-you-an-eat" buf- fet as well as a la c"'~t dishes. The interior design is of a modern persuasion and includes a running waterfall on one wall. According to restaurant mana- ger Jason Liu, facilities are available for banquets and they also provide full catering ser- vices. Liu sa that reservations are preferre but more often than not dropping in ;s also accep- tbe. They initially submitted appli cation to amend the officiai plan in January, 1988. The proposed site is designated residential and needs te ho zoned commercial for the commercial complex, which was initially to measure 45,000 square feet. Now Monarch Construction plans to expand the existing dis- trict commercial designation and replace two medium density symbole with one high density symbol, allowing for a commer- cial and high density residential development. Since this application differs somewhat from the first, the applicant has submitted a new official plan amendment applica- tion and asked that the prior one be closed. When contacted by The Free Press, a representative said Monarch Construction is not yet prepared te discuss their new plan publicly. Dr. Goldberg wishes to announce the relocation of his DENTAL PRACTICE to 130 Byron Street North, Whitby. By appointment579@0O145 [YOUR BUSINESS]