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"To
succeed, Nova Scotia companies must be competitive." It sounds
simplistic, but it's fundamental.
Asking
the question, "Are we as productive as we can be?" and "Why does
it matter?" is a good starting point.
Productivity
is broadly defined as output per worker, and it's not just a term
that applies to the manufacturing sector. Boosting productivity
is good for any Nova Scotia company. It drives business growth,
which creates a stronger economy and ultimately leads to a higher
standard of living for Nova Scotians.
Companies
in the United States continue to improve their productivity at
a red-hot pace, largely because of investments in improved equipment,
technology, and other infrastructure. At the same time, they are
effectively managing labour costs. The overall result is an increasingly
stronger economy and standard of living.
Businesses,
regardless of the industry, can become more productive. It can
be as simple as ensuring the people working for you have adequate
skills and training to do their jobs, or it may mean investing
in efficient, up-to-date equipment. In the service industry, customer
service that shines head-and-shoulders above the rest will make
people want to do business with you. In the manufacturing sector,
it is important to use every resource you have - the best way
possible. In doing so, you'll quickly see increased production,
and it may even lead to the development of a new product line,
or to the enhancement of a product you're already making.
Companies
that have a good thing going in Nova Scotia may want to look at
selling their products and services in other provinces, or even
exporting to other countries. Observing how things are done in
other places can breed innovation and competitiveness - the exposure
is a good exercise in "How do I measure up?"
NSBI
enables the growth of the Nova Scotia economy by helping businesses
grow and expand through services such as export development and
financing, and by attracting new businesses to the province. If
you're ready to increase the competitiveness of your business,
perhaps it's time to do a productivity check? Our regional Business
Advisory Team, located in offices across the province, may be
a valuable resource to you. For more information contact the Nova
Scotia Business Inc. office nearest you, or visit www.novascotiabusiness.com.
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Seven
of our provinces top exporters gathered under one roof at the
20th annual Nova Scotia Export Achievement Awards in Halifax,
to celebrate their international success. From kilts to Christmas
trees, Nova Scotia's products and services came centre stage,
highlighting the companies' commitment to doing business abroad.
The
night had all the makings of a Hollywood event. The only thing
missing was Joan Rivers on the red carpet. A live jazz combo,
flashing lights and projectors created a swanky atmosphere in
the hall.
The
winning companies and their 2004 Export Achievement Awards are:
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FineLine Fuel Systems Inc. - manufacturer
of fuel tank sending units New Exporter Award
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Ultra Electronics Maritime Systems
- producer of electronic systems for military use Long Term
Exporter Award
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Northern Lights Christmas Tree Farms
- Christmas tree producer Export Growth in New Markets Award
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Welaptega - providers of marine growth
management services to the offshore petroleum industry Export
Growth Through Partnership Award
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Interhabs Ltd. - manufacturer of pre-engineered
homes Export Sales Growth Award
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MacIsaac Kiltmakers - makers of custom
kilts, Highland dancing outfits and tartan gift items Canadian
Market Development Award
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Kenney & Ross Limited - manufacturer
of specialized fish gelatin used in the electronics industry
Export Growth Through Product Development Award and Exporter
of the Year Award
Pamela Wallin, Canadian Consul General to New York, delivered
a poignant keynote address on the current state of Canada-U.S.
trade relations. John Hamm, Premier of Nova Scotia, remarked as
he opened the awards ceremony, "These winning companies are leaders
in the domestic market, and they've successfully made the globe
their marketplace."
The
evening included a welcome reception sponsored by the Halifax
Port Authority followed by a dinner and ceremony, hosted by Nova
Scotia Business Inc. and the Canadian Manufacturers and Exporters
(Nova Scotia Division). More than 500 guests attended - the most
since the event's inception.
Our
partners for the event included: Atlantic Canada Opportunities
Agency, Greater Halifax Partnership, Aliant, Grant Thornton, Michelin
North America (Canada) Inc., Export Development Canada, RBC Global
Services, and The Canadian Trade Commissioner Service.
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MacLeod
Resources Limited is a 'rock solid' company in Cape Breton
experiencing breakthroughs in new markets. This unique marble
quarry in River Denys is expanding, adding value to its
products and doubling its workforce. Nova Scotia Business
Inc. is proud to support the company's $2-million expansion.
NSBI
provided a loan of $500,000 to MacLeod Resources to help
build and equip a new processing facility, where workers
will polish and finish the quarry's rare red marble into
a more valuable product. It will enable MacLeod Resources
to increase revenues and the company will grow its export
possibilities. All the while, the production process - and
the jobs that go with it - will remain in Nova Scotia.
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"At
NSBI, we support industries that continue to contribute
to our economic growth," said Stephen Lund, President and
CEO of NSBI. "This loan is an excellent example of how our
regional account executives have worked one-on-one with
a local business to secure growth opportunities."
Established
in 2001, MacLeod Resources has developed Atlantic Canada's
only marble quarry. The rare deposit of red marble puts
Cape Breton on the map for what is believed to be one of
the few such deposits of its kind in the Western Hemisphere.
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An
ocean of opportunities is opening up for A. F. Theriault
& Son Limited, a shipbuilding company in Meteghan River,
Digby County. The business will use a working capital loan
to create 20 new jobs for Nova Scotians and open new markets.
Nova Scotia Business Inc. has partnered with A. F. Theriault
to support this expansion by providing a loan for $650,000.
With
increased cash flow, the family-run business will have the
capacity to compete for different and more lucrative contracts,
such as a $3.4-million specialized sailing craft project
that A. F. Theriault is now building. Currently, the fishing
boat industry for the Atlantic region and pleasure yachts
for export to the U.S. are A. F. Theriault's key markets.
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"Why
wouldn't NSBI support a local company that's pushing itself
further and into new markets?" says Stephen Lund, President
and CEO of NSBI. "We're helping a company whose success
contributes to our provincial economic growth."
The
shipbuilding industry - led by top companies such as A.
F. Theriault - is extremely valuable to the Nova Scotia
economy. The company retains over 150 employees in rural
Nova Scotia and exports more than half its vessels and marine
repair services to the U.S.
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Two
customer contact centres that set up shop in the province
within the last 12 months are seeing the benefits of doing
business in Nova Scotia.
TeleTech
Holdings Inc. opened a customer management centre in Bayer's
Lake Industrial Park last June, and already the team has
grown to 800 employees.
Similarly,
Doppleganger Canso Inc. (DCI) a customer contact centre
in Canso has grown to 60 employees since last fall. The
company expected to hire 50 people over the course of five
years, but that goal was exceeded within eight months.
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DCI
introduced a whole new sector to the area that provides
year-round work for residents, and already it is having
a positive impact on the town's economy.
"It's
great to see companies that have invested in our province
grow beyond their expectations," says, Stephen Lund, President
and CEO of NSBI. "These companies directly attribute much
of their success to Nova Scotia's dedicated, customer-focused
workforce."
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The
Atlantic Canada Pavilion was a centre of success at Oceanology
International 2004, the world's premier marine science/ocean technology
exhibition and conference, held March 16 to 19 in London, England.
The
pavilion was home to 11 Atlantic Canadian companies (eight from
Nova Scotia), who traveled to the UK in hopes of gaining increased
international profile and securing contracts for their products
and services.
"Our
Atlantic companies combined reported on-site sales of $1.7 million,
and are now up to $19.5 million since returning," says Peter Giffin,
chair of the organizing committee for the Atlantic Canadian Pavilion,
and Senior Trade Officer with NSBI. "We've been doing this for
over ten years and each show we achieve stronger results."
At
the Atlantic Canada Reception, a keynote address by Mel Cappe,
Canadian High Commissioner to England helped boost interest in
Atlantic Canada's companies. He endorsed them as major players
in the ocean technology field and encouraged the 200 foreign buyers
present to purchase Canadian goods and services.
With
a large number of exhibitors reporting contracts signed at the
show, and visitors from over 70 countries attending (a 13 per
cent increase on the last show), the event was hailed as one of
the best ever.
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Troy
Sawler, Trade and Export Officer with Nova Scotia Business Inc.
accompanied seven Nova Scotia companies to Washington, D.C. on
April 25 as part of the Team Canada Atlantic Mission.
The
mission consisted of three full days of meetings, matchmaking
sessions and roundtable discussions with potential agents, brokers,
distributors and partners. NSBI was there to help Nova Scotia
companies arrange personal meetings and develop solid business
leads (outside the formal agenda), with the goal of generating
export sales.
"Participants
were thrilled to have the opportunity to market their products
and services at an event where the focus was selling," says Mr.
Sawler. "It was a worthwhile trip for all Nova Scotia companies
involved."
Economic
Development Minister Ernie Fage led the Nova Scotia delegation.
Team Canada Atlantic partners include: ACOA; the Atlantic Canada
World Trade Centre; the Department of Foreign Affairs and International
Trade; Agriculture and Agri-food Canada; Industry Canada; and
the governments of Nova Scotia, Prince Edward Island, New Brunswick
and Newfoundland and Labrador.
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It's
amazing what a course in competitive intelligence can do for a
company heading to a conference and trade show. Just ask Liteco,
Nova Scotia Community College Energy Division, Jade Communications
and M5 Marketing Communications.
These
four Nova Scotia companies took part in a three-day competitive
intelligence training program in Halifax, prior to heading to
the Offshore Technology Conference in Houston on May 3. The session
was organized by NSBI's Senior Trade Officer, Peter Giffin and
led by Dr. Jonathon Caloff, Associate Professor of International
Business at the University of Ottawa, and a Director of the Canadian
Institute of Competitive Intelligence, as well as Bob Fox, Director
of Trade Team Alberta. Participants learned how to effectively
identify and plan for new market opportunities by clearly defining
their company objectives and employing efficient methods to collect
the right data to enable them to make solid business decisions.
The
Offshore Technology Conference is the largest oil and gas trade
show and conference of its kind in North America, attracting over
2500 exhibitors. The four Nova Scotia companies attended the conference
with clear business objectives established as part of the training
course, and Peter and Bob were there to provide guidance and practical
assistance as the companies worked to secure business leads.
"Many business agreements were made at the conference that created
positive trade opportunities for Nova Scotia companies," says
Mr. Giffin. "It was a very successful effort."
Also
at the conference, Nova Scotia Business Inc., The Nova Scotia
Department of Energy, and The Atlantic Canada Opportunities Agency
(ACOA) proudly sponsored Café Nova Scotia, a venue that gave delegates
a taste of Nova Scotia hospitality and offered them an opportunity
to share a coffee and network. NSBI also hosted a breakfast for
Nova Scotia exhibitors as part of the three-day event.
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Several
Nova Scotia businesses will be visiting the Caribbean later this
year to seek trade opportunities to further expand their export
markets.
The
upcoming multi-sector business mission to Trinidad and Tobago,
West Indies, is the result of NSBI, Greater Halifax Partnership
and the Nova Scotia Department of Energy joining forces in an
operation to foster economic growth for our province. From November
15-18, select Nova Scotia businesses will travel to Port of Spain
and San Fernando to attend a four-day forum consisting of matchmaking
meetings, information sessions, and networking opportunities in
the area.
The
benefits? Nova Scotia businesses will gain insight into a new
market and make contacts with businesses in the most industrialized
islands of the Caribbean.
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International
Snapshot
-
Recently, while speaking in Halifax,
Nova Scotia, Stephen Poloz, Vice President and Chief
Economist for Canada's Export Development Corporation
noted that the world economy is at 'high tide', with
the most robust outlook facing the global economy since
the mid-1990's. The emergence of China as an economic
power, the further growth of the European Union and
the recovery of the US economy were cited for their
impact.
-
Of note, the US economy added
248,000 jobs in May, the third consecutive month of
employment growth. Job creation - the previously missing
ingredient to the US recovery - is now in full swing.
Expect the US economy to drive 4.5% plus GDP growth
in 2004, fueled by strong consumer confidence and a
manufacturing sector on a roll. The US is poised to
capitalize on the productivity gains it has earned.
Canada's
Prospects
-
Canada's economy is expected
to show improvement over 2003's performance. Little
wonder, given the shocks sustained by the economy last
year (remember SARS, mad cow, the blackout and the rapid
appreciation of the Canadian dollar).
-
Economic forecasters are now
revising upwards their growth estimates for 2004. Consumer
spending and exports showed stronger than expected growth
in the first quarter.
- Expect real GDP to grow in the
3% range this year. If economic performance continues
to outstrip earlier forecasts we could see an increase
in interest rates later this summer.
The
Nova Scotia Economy
-
The Nova Scotia economy posted
the worst performance in the country in 2003 with 0.9%
real GDP growth
(1997$).
As recently as March 2004, forecasters had been calling
for Nova Scotia to come in around 1.5 - 1.6% GDP growth
for 2003. Then "boom", what the heck happened
- a far weaker-than expected 0.9% growth. Consumer spending,
investment activity, the energy sector, and international
export performance all played a role in our dampened
fortunes, and, indeed, will play a significant role
in 2004.
-
Employment grew by 1.6% in 2003,
a comparatively strong performance.
-
Early indications from the forecasting
community suggest that the Nova Scotia economy could
push a modest 2% or a little better growth in 2004.
Retail sales have shown recent signs of recovery, as
have housing starts and residential building permits.
Manufacturing shipments also increased in March, following
eight consecutive months of decline. Not surprisingly,
the impact of the energy sector weighs heavily on prospects.
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NS
Labour Market Update
The
May Labour Force Survey is a generally positive one for
Nova Scotia, but there are hints of labour market softness.
•
On a seasonally adjusted basis, employment province-wide
was up 3,700 people over April 2004 for total provincial
employment of 449,200.
•
Year-over-year employment has grown by 12,700 employees,
up a healthy 2.9% over May '03. The unemployment rate declined
slightly to 8.9%. Nova Scotia continues to post the lowest
unemployment rates in Atlantic Canada.
On
the regional front, the Halifax and Southern economic regions
posted the only year-over-year declines in unemployment
rate in May (based on unadjusted three-month moving averages).
•The
unemployment rate in the Halifax Census Metropolitan Area
declined to 6.5%, the lowest east of Quebec city, and the
Southern region notched down by 0.6 percentage points to
10.7%.
•
The Annapolis Valley (10.9%), North Shore (11.7%) and Cape
Breton (16.3%) all saw increases in their unemployment rates.
•
It should be noted that Cape Breton saw reasonably strong
employment growth (+2,100) overshadowed by even stronger
labour force growth (+2,600) in May. Unemployment on Cape
Breton increased only marginally.
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On
June 8, 2004, Nova Scotia Business Inc. launched a print
advertising campaign targeted at Nova Scotia businesses
themed: NSBI - We're here to help you grow.
The
province-wide campaign was created to help promote NSBI
as the province's front-line business development agency
that helps business grow and expand successfully in Nova
Scotia. The print campaign encourages businesses to access
NSBI's export development, financing and business advisory
services to identify and secure business growth opportunities.
With eight locations around the province, NSBI is ready
to stimulate and facilitate business growth across the province.
Business
Development Account Executive
NSBI is pleased to welcome JP Robicheau to the Business Development team, effective June 21, 2004. In his role as Business Development Account Executive, JP will be primarily responsible for attracting inward investment to Nova Scotia, securing business development opportunities and managing them through to closure.
CEO Assistant and Corporate Strategist
NSBI also welcomes Angela Ralph to the position of CEO Assistant & Corporate Strategist. Angela's role is to provide strategic advice and support to the President & CEO on special projects and initiatives.
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More
than 130 economic development professionals from around
the world gathered in Halifax from May 18 to 22 for
the 2004 Business Retention and Expansion International
Conference (BREI).
The
program consisted of workshops and seminars tied to
the theme, Strengthening the Framework for our Future.
Fred Terrio, Manager of Nova Scotia Business Inc.'s
Business Advisory Team, presented at a workshop entitled,
Rural and Small Town Business Retention and Expansion
Programs. He shared Nova Scotia Business Inc.'s approach
to strengthening business and growing our Nova Scotia
communities. NSBI was a leader in implementing a customized
business retention and expansion program that engages
companies in all areas of the province. Regional account
executives work with companies to identify opportunities
and challenges for business growth and success. They
discuss everything from financial needs, to business
costs, from competition and market evolution, to human
resources. And, they provide seamless access to other
business development agencies in the province, depending
on the company's needs.
Prior
to the conference, a two-and-a-half day Consultant
Certification Course was held to train economic development
professionals how to effectively execute proactive
business visitation programs. The course taught participants
how to identify opportunities for future business
growth and determine barriers to further expansion
through effective data collection, action plan development,
results reporting and strategy implementation. All
of Nova Scotia Business Inc.'s Business Advisory account
executives have received this certification.
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This
quarter Nova Scotia Business Inc. began the process of recruiting
leaders and visionaries to fill upcoming vacancies on our Board
of Directors.
Board
members serve terms of one to four years and commit to providing
strategic direction and guidance to NSBI's senior management team.
Board members reflect the diversity of Nova Scotia's geography
as well as its business sectors.
We
are looking for individuals with a passion and vision for the
future of business in Nova Scotia. If you have a background in
business, finance and/or export services, with expertise in the
area of Information Technology, Life Sciences, Energy or Advanced
Manufacturing, we're always interested in hearing from you. Please
forward expressions of interested to Mary Ellen Tingley-MacLean
at macleanme@gov.ns.ca.
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This
Week:
Black
Business Summit
Nova Scotia Business Inc. is pleased to be a sponsor of this year's
Black Business Summit from June 21-25, hosted by the Black Business
Initiative. The conference theme is 'Building Bridges for Business
Success'. Stephen Lund, President and CEO, NSBI will be speaking
at a workshop on Thursday, June 24, entitled, Thriving not
Surviving.
Coming
Up:
Canada Day in LA
Each year, the Canadian Consulate in Los Angeles hosts Canada
Day in LA, an event to celebrate Canada Day and showcase trade
opportunities of different provinces in Canada. This year the
Premier of Nova Scotia will lead a business delegation of more
than 20 Nova Scotia firms to pursue trade opportunities in the
Southern California area. Nova Scotia's success in the entertainment,
food and business community will be centre stage. The business
program will consist of three days of matchmaking business meetings,
business networking events, and will culminate with a networking
reception at the Official Residence of the Canadian Consul General.
NSBI has invited several Nova Scotia businesses that are targeting
LA as an export market to participate.
International
Business Summit
Nova Scotia Business Inc., the Greater Halifax Partnership, and
the Nova Scotia Association of Regional Development Authorities
are hosting an International Business Summit (INVITATION
ONLY) from July 29-31 in Halifax, coinciding with the Tall
Ships event. Senior business executives from around the world
will travel to Halifax to experience Nova Scotia as an ideal business
location.
Halifax
Gateway Luncheon
The Halifax Gateway Luncheon on July 30 is a lunch and networking
opportunity for the business community that falls into the agenda
of Port Forum at Tall Ships 2004, and the International Business
Summit. NSBI has partnered with the Halifax Port Authority,
the Halifax International Airport Authority and the Greater Halifax
Partnership in hosting this event.
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About
NSBI: Nova Scotia Business Inc. is the lead business development
organization for Nova Scotia helping businesses grow, diversify
and compete globally. NSBI provides export development and financial
services designed specifically to meet the needs of clients in
the province. NSBI also leads the province's business attraction
efforts by targeting new companies that are growth-oriented, innovative,
and sustainable - companies with the potential to contribute to
Nova Scotia's economic growth.
You
can view this and previous issues of New Business Thinking
on our Web site at www.novascotiabusiness.com.
Go to Quick Links, About NSBI and choose New Business Thinking
from the drop down menu.
Contact
NSBI: Visit www.novascotiabusiness.com
for our complete contact information.
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