2010 Economic Outlook Survey

THE SASKATCHEWAN CHAMBER OF COMMERCE NEWS MAGAZINE

VOLUME 3/ ISSUE 1 / JAN / FEB 2010

Recap - Pre-Budget ConsultationThe Chamber’s Year in Review

Growth Strategy Update and much more

Publication Mail Agreement # 40916054

A HISTOry OF SuCCeSS.

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Together, we create sustainable developments, opportunities and economies.

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volume 3/ issue 1 3

T h e 2 0 1 0 C o n f e r e n c e o n B u s i n e s s

M a y 5 - 7 , 2 0 0 9

P r i n c e A l b e r t , S a s k a t c h e w a n

R E A S O N S T O AT T E N D

N E T W O R K W I T H B U S I N E S S L E A D E R S

The Conference is attended by over 150 Business

Representatives from across the province.

H E A R I N T E R E S T I N G S P E A K E R S

Attend five sessions focused on helping

businesses capture Saskatchewan’s potential.

H E L P D E V E L O P C H A M B E R P O L I C Y

Do your part to make sure the Voice of Business is

heard in Saskatchewan.

AT T E N D T H E C H A I R ’ S D I N N E R

Join other business leaders in a celebration of the

volunteers who are helping to make our province

the best place to live, work and invest.

1630 - 1920 Broad Street, Regina, Sask S4P 3V2 Tel 306.352.2671 Fax 306.781.7084 W W W. S A S K C H A M B E R . C O M

saskatchewanchamber of

commerce

Capture our PotentialT h e 2 0 1 0 C o n f e r e n c e o n B u s i n e s s

www.saskchamber.com

Contents

The Saskatchewan Chamber of Commerce

Vision:Saskatchewan Business making Saskatchewan the best place to live, work and invest.

Mission:To strengthen Saskatchewan’s business community and competitive enterprise system for an improved quality of life.

action! Magazine, a publication of the Saskatchewan Chamber of Commerce.

Reproduction of any material contained in action! is permitted provided credit is given to the Saskatchewan Chamber of Commerce.

Opinions expressed by contributors are their own and do not necessarily represent those of the Saskatchewan Chamber.

Editor: Kristin McKee

The Saskatchewan Chamber of Commerce’s 2009-2010 Officers

Chair: Holly Hetherington

Immediate Past-Chair: Dale Lemke

1st Vice-Chair: Richard Ahenakew

2nd Vice-Chair: Colleen Vancha

Staff:Steve McLellan, CEODawn Boxall, Administrative AssistantTrevor Doroshenko, Membership CoordinatorKristin McKee, Communications CoordinatorKristen McLeod, Event & Project CoordinatorCurtis Hemming, Research CoordinatorPeter Prokopiw, Finance Coordinator

The Saskatchewan Chamber of Commerce 1630- 1920 Broad Street,Regina, Saskatchewan S4P 3V2 Ph: 306-352-2671Email: kmckee@saskchamber.com

action! volume three issue 1

A Message from the Chair ................................................................

New Members ......................................................................................

By The Numbers ................................................................................

Legislative Report ...............................................................................

Member Profile Phenomenome Discoveries ................................................

Successful Advocacy The Chamber’s Year in Review ..........................................

Looking Forward 2010 Economic Oulook .......................................................

Growth Strategy Update ....................................................................

Chamber Engages in Pre-Budget Consultation .........................

Succession Planning for Your Business Implementing an Action Plan ...........................................

Networking Opportunity Chamber Leaders Connnect ..............................................

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The Saskatchewan Chamber believes that we need an honest examination of the role of the crowns. We do not seek a one-dimensional answer. These businesses loom large; any answer must be judicious and prudent.

There are few issues facing Saskatchewan’s business community that generate as much wide-ranging debate as the role of the province’s crown corporations. Whether referred to as state owned agencies, crown corporations or businesses, disputes over their function and mandate continue across Saskatchewan.

For those whose only interaction with these organizations is to purchase electricity, gas, telephone services or anything else they provide, the experience is usually positive. The Crowns generally offer a good service at market price. However, for private businesses that work in the same sector and must compete against the government-backed crown corporations, staying competitive can be difficult.

In principle, a crown corporation is a business owned by the government. The function of any business is to compete and succeed. If we want the crowns to succeed and make money, we have to be prepared to let them act like businesses. That means competing effectively.

Crowns that compete effectively can be daunting for smaller private businesses in the same market. Crowns enjoy a historic head-start, and they have government support from both a financial and policy perspective. Thus we find ourselves in a conflict: do we want the Crowns to do well, or do we want to build a strong private sector in Saskatchewan? We believe that there is a model that can accomplish both.

Our province must develop strong, competitive private businesses. We need them to create quality jobs, to develop

support businesses, to create a critical mass of entrepreneurial talent, to give our province capacity to go beyond its borders, and to earn income. We need the incubation, innovation and cross-pollination that a private business community can contribute to the larger community. We need the attitude and mandate within the Crowns to do this as well.

To give them their due, crowns have taken major steps toward partnerships with the private sector. However, none of this is the same as a core of strong private companies in key sectors.

We are at a significant crossroads. SaskPower alone needs approximately $14 billion in new infrastructure investments over the next decade. SaskTel has launched a major initiative – using public funds – to ensure high-speed internet coverage is available province-wide. Decisions are being made now that will shape the direction of private and public sector growth in Saskatchewan for years to come.

The people who run our publically-owned businesses are following the mandate that the province has set-out for them. This mandate needs to be explored and evaluated.

Saskatchewan is no longer the have not province of yesterday. We are small, but with a much more competitive tax regime and a positive approach to growth –

things are happening here. Opportunity ebbs and flows; it is critical to capitalize when the tide is rising.

Our crowns are part of a defensive posture that grows out of past challenges. They have supplied valuable services when opportunity was limited. However, if we continue to do what we’ve always done, we will continue to get similar results. Is the current government-owned businesses the best model for our province moving forward?

The Saskatchewan Chamber believes that we need an honest examination of the role of the crowns. We do not seek a one-dimensional answer. These businesses loom large; any answer must be judicious and prudent. If an updated strategy is considered, it must deliver net gains..

Whatever the future of the crowns may be, the development of new mandates calls for thoughtful discussion and strategic thinking by people of good will. We want our province to prosper. It can’t afford to be lumbered with old thinking or driven by narrow agendas.

There is no time like the present to begin this important task. Its outcome could be a large part of the future of Saskatchewan’s crowns, businesses, and residents for years to come.

Crowns in Need of Review

A Message From the Chair

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North Ridge Development Corporation3037 Faithfull AvenueSaskatoon, SaskatchewanPh: (306) 242-2434Website: www.northridge.sk.caContact: Walter Mah, PresidentDescription: North Ridge Development is a residential development and construction company operating in Saskatoon and Regina.

NuCoal Energy Corporation1103 Tower at MidtownSaskatoon, SaskatchewanPh: (306) 651-5191Contact: Allison Sherdahl, Vice-President Investor RelationsWebsite: www.nucoalenergy.caDescription: NuCoal Energy is focused on exploring for and then developing

a large, advanced stage multi-regional coal project. NuCoal’s main objective is to create a clean, modular Coal to Liquids Polygen plant.

RA Volk & Associates ConsultingP.O. Box 132White City, SaskatchewanPh: (306) 537-7490Contact: Bob Volk, President

Paradigm Consulting Group1700 – 1874 Scarth StreetRegina, SaskatchewanPh: (306) 522-8588Contact: Punam Burnett, Executive PartnerWebsite: www.paradigm.sk.caDescription: Paradigm provides information technology direction and

solutions to government and private industry throughout North America.

ACS Aboriginal Consulting ServicesP.O. Box 924Saskatoon, SaskatchewanPh: (306) 651-1771Contact: John Lagimodiere, PresidentWebsite: www.eaglefeathernews.comDescription: ACS delivers high quality Aboriginal awareness seminars and consulting services.

Whitewood HeraldP.O. Box 160Whitewood, SaskatchewanPh: (306) 735-2230Contact: Chris Ashfield, PublisherWebsite: www.whitewoodherald.comDescription: Saskatchewan’s oldest continuing weekly newspaper, publishing since 1893.

See why over 25,000 business owners selected this plan!

IF THE TOOTH FAIRY WON’T PAYYOUR DENTAL BILLS, WE CAN!

Welcome

New MembersFor membership information or to refer your leads please contact: Trevor Doroshenko at 306-352-2671.

The Saskatchewan Chamber is pleased to announce that Big Brothers Big Sisters Association of Lloydminster has won the Horizon Extreme Technology MakeOver. Big Brothers Big Sisters will now receive a complete technology makeover worth up to $50,000.00. Read Saskatoon and Delorme Seeds of Assiniboia placed 2nd and 3rd respectively.

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PopulationAccording to preliminary estimates by Statistics Canada, the Saskatchewan population hit an all-time high of 1,035,000 on October 1st, 2009. The previous high was more than twenty years ago on July 1st, 1987. The population has been growing at an annual rate of approximately 1.5% for the past five quarters.

The three factors affecting the overall size of the population all made a positive contribution to the increase. In the first three quarters of 2009

there was an increase of:• +3,600 from natural growth

(births less deaths);• +5,100 from international

migration; and• +1,900 from interprovincial

migration.

In the third quarter, interprovincial migration to Saskatchewan slowed with the number of people moving to Saskatchewan down 14% from a year ago. Nevertheless, the population is expected to continue to grow throughout 2010.

Employment and EarningsEmployment for 2009 was 1.5% higher than in 2008 but the demand side of the labour market was weaker than this figure suggests. Adjusted for normal seasonal variations, employment in Saskatchewan has been fluctuating near 520,000 for more than a year and the number of unemployed has increased sharply. An increase in part-time work and fewer hours for full-timers means that the number of hours worked declined by 2.6% for the year.

Compared with 2008, employment in

2009 increased: • among men relative to women;• among older (55 plus) workers

relative to those 15 to 24 years of age;

• among those with higher levels of education;

• in the public sector rather than the private sector; and

• in urban areas relative to rural ones.

The average hourly wage rate for paid workers in 2009 was $21.55, 6.0% higher than in 2008.

November/ December

By the NumbersFears of the Canadian or US economies slipping into another recession have receded and the 2008-09 credit crunch is, in retrospect, looking like a fairly typical recession. There is still concern about the speed in which the world economy recovers and undoubtedly more bumps in the road to come. Except for some concern that low interest rates could lead to another asset price bubble in general and a housing price bubble in particular, recovery is the order of the day.

980

990

1,000

1,010

1,020

1,030

1,040

1,050

2006 2007 2008 2009

Saskatchewan Population

thousandsof persons

485

490

495

500

505

510

515

520

525

530

535

2008 2009

Monthly Employment in Saskatchewan

thousands(seasonally adjusted)

The Saskatchewan economy was probably never in recession but the economic indicators did stop increasing. They will tilt upward again in 2010.

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$1,050

$1,100

$1,150

$1,200

$1,250

$1,300

2008 2009

Monthly Retail Sales in Saskatchewan

$ millions(seasonallyadjusted)

ConstructionBoth the residential and non-residential sides of the building construction industry have been busy during the past few years but most of the new work in 2009 was on the non-residential and engineering side of the business. The residential market has slowed considerably with new housing starts in urban Saskatchewan down 37% for 2009 compared with the record levels in 2008. The value of residential building permits issued in 2009 will fall by a similar amount (30%) compared with

2008.

The value of non-residential building permits issued, on the other hand, are stable – down 1% for commercial/industrial projects and up 2% for government/institutional projects. The new construction is concentrated in the Regina area – the value of permits in Saskatoon is off by 30%.

Employment in construction during 2009 averaged 38,500, up 4.6% from 2008.

$0

$50

$100

$150

$200

$250

$300

2008 2009

Monthly Value of Building Permits in Saskatchewan

Residential

Non-Residential

$ millions (seasonally adjusted)

Retail SalesAfter the $100 million drop in the monthly average that occurred late in 2008, retailers have seen their sales grow by the equivalent of 7% per year. If that continues in the last two months of the year then sales will end the year near $14 billion, a 2% decline from 2008. A 9% drop in the number of new motor vehicles sold is the main contributor to the drop. Additionally, sales at wholesale establishments are

down 21% for the first ten months of 2009 because of lower prices for farm fuel and chemicals.

Looking ahead, slow growth in income compared with the last two years is expected to have a dampening effect on sales in 2010.

Employment in retail trade during 2009 was 61,600, down 2.9% from 2008.

0%

1%

2%

3%

4%

2008 2009

Monthly Consumer Price Inflation in Saskatchewan

% change in prices from a year ago

Consumer Price InflationThe inflation rate was still below 1% in November 2009 because transportation and shelter prices were lower than a year ago.

These declines were offset by a small increase in grocery prices (+0.7%) and household operations (+1.9%). The inflation rate was higher for restaurant meals (+4.4%) and health and personal care items (+4.9%).

Inflation in Saskatchewan will increase in 2010. The outlook for 2010 is a return to more “normal” inflation rates in the 1.5% to 2.5% range. Two things could mean even higher inflation rates – the first would be a significant decline in the value of the Canadian dollar vis-à-vis the US dollar and the second would be a renewed surge in housing prices. Neither is expected.

The residential market has slowed considerably with new housing starts in urban Saskatchewan down 37% for 2009 compared with the record levels in 2008. The value of residential building permits issued in 2009 will fall by a similar amount (30%) compared with 2008.

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November/ December

By the Numbers continued

With the Employee Investment Program…“I feel as though my actions have a direct effect on the success of the company.” -Andy Baessler, Pilot, West Wind AviationAndy Baessler has participated in the Employee Investment Program since joining West Wind Aviation in 2005.

As a participant of Enterprise Saskatchewan’s Employee Investment Program, you’re an owner. Not only will you have the opportunity to share in your company’s success, you also get a 20% provincial and 15% federal tax credit on the fi rst $5,000 invested. Now you’re ready for take off! To learn more, visit www.enterprisesask.ca/employeeinvestment

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International Merchandise TradeThe value of international trade is coming off record highs in 2008 but the drop is largely price-related rather than the result of any reduction in the quantity of goods exported. Measured in Canadian dollars, the value of merchandise exports to other countries in October was down 38% compared with a year ago to bring the year-to-date decline to 29%.

The value of imports fell by a similar amount (40%) so the value of net trade (exports less imports) is two-thirds of where it was during the first ten months of 2008.

Exports of crude oil, which account for a third of the value of our international exports, will end the year down 40%. Potash exports will drop by about the same amount in value whereas the value of wheat exports will be down by only 10%.

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

2008 2009

International Merchandise Trade to/from Saskatchewan

C$ billions

exports

imports

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The Employee Investment Program is a great way to raise money for your business and build a better workforce. When employees invest in your company, their commitment and productivity increases—which is good, because everybody needs a co-pilot they can count on. To learn more, visit www.enterprisesask.ca/employeeinvestment

…the Sky is the Limit“Being a part of the program has had a tremendous impact on how employees—as owners—view their day-to-day involvement.” -Chris Tabler, Vice President, West Wind Aviation West Wind Aviation has offered the Employee Investment Program since 1994.

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AgricultureGross farm cash receipts are down by 4% for the first three quarters of 2009 compared with the same period a year ago. Crop receipts are near last year’s levels but receipts from the sale of livestock and livestock products are down 19%.

There is some talk of another increase in crop prices in 2010 similar to the

one in 2008 but there is no sign of that yet. The Canadian Wheat Board is still expecting the final price for wheat to be $285/tonne this year, the same as last year. Oilseed and lentil prices are close to last year’s levels but pea prices are down. Cattle and hog prices remain low.

Employment in agriculture averaged 43,400 in 2009, up 5.9% from 2008.

Manufacturing SalesThe most recent figures show the value of manufacturing sales has been effectively flat throughout 2009. If present trends continue, sales this year will be near $11 billion compared with the record level of $12.3 billion in 2008. Some of the decline is price related (e.g. petroleum products and

fertilizer) but some is a delayed effect of lower national and international demand. A recovery in 2010 is unlikely unless demand in the USA picks up considerably.

Employment in manufacturing during 2009 was 28,500, down 8% from 2008. $700

$800

$900

$1,000

$1,100

$1,200

$1,300

$1,400

2008 2009

Monthly Manufacturing Sales in Saskatchewan

$ millions(seasonallyadjusted)

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

2006 2007 2008 2009

Saskatchewan Gross Farm Cash Receipts

% change froma year ago

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The Saskatchewan Environmental Code will provide guidance to regulated persons on the design of environmental systems and facilities, with details on acceptable results and standards for particular activities associated with development.

A Guide to Provincial Politics

Legislative Report New Environmental Regulatory Framework The new Environmental Management and Protection Act, 2009, along with amendments to The Environmental Assessment Act and The Forest Resources Management Act were introduced by the Provincial Government in December. These changes reflect years of Chamber advocacy that worked towards an improved environmental regulatory system which focused on results-based regulation as opposed to the prescriptive permitting system that was previously utilized.

The legislative amendments include establishing the authority to create a Saskatchewan Environmental Code, which will provide guidance to regulated persons on the design of environmental systems and facilities, with details on acceptable results and standards for particular activities associated with development. The Chamber is continuing to work with the Ministry on the development of this code and is excited about the province’s new direction.

Mid-Year Financial ReportAccording to the Province’s Mid-Year Financial Report, Saskatchewan will receive $1.7 billion less in potash revenue then was forecast in the 2009-10 budget. A small amount of this shortfall will be offset by a projected increase in oil revenue, taxes and federal transfers, however the province is still planning to defer capital funding, continue a hiring freeze for non-essential positions, transfer additional dividends from the Crowns, and take a total of $564.3 million from the Growth and Financial Security Fund in 2009-10. The government believes these measures will maintain a balance in the General Revenue Fund.

Changes to Potash TaxesThe government has made changes to Saskatchewan’s potash production tax. In 2003, the government eliminated profit tax on new potash sales above the average sales level in 2001, which meant that new potash operations would have an effective profit tax rate of 0%. The new changes remove this provision. Under the changed policy, a new company will be assigned a tax base equal to 75% of its sales up to a total of one million tonnes. Once one million tonnes is reached, the company will be able to further expand its sales without increasing its taxable tonnes. Additionally, all potash producers will now be subject to a tax floor equal to 35% of their total sales. The tax floor

will ensure that regardless of growth, a base level of sales for all producers is subject to profit tax.

The provincial government has also changed how it will tax potash producers with corporate office jobs located in the province. Effective January 1, 2010, a deduction in determining the profit tax portion of the Potash Production Tax will apply to each new corporate office job located in the province. A lesser deduction will apply to positions already located in Saskatchewan. After five years, each new job will be treated as an existing job.

Premier Meets with US OfficialsPremier Brad Wall traveled to Washington in November to meet with several US Senators and President Obama’s senior advisor on energy and climate change. The purpose of these meetings was to seek US government support for the Saskatchewan-Montana carbon capture and sequestration project. The $270 million project needs about $100 million in US funding.

New Ticket LegislationThe new Ticket Sales Act will limit the activities of secondary ticket sellers. The legislation will prohibit the primary seller from having links on their website to reseller websites, prohibit secondary ticket sellers from selling tickets to an event that are primarily being sold by a

Big Win

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December’s sale of Crown petroleum and natural gas rights brought in $34.9 million in revenue for the province. This was the largest sale of the year.

company legally associated with them and prohibit advertising the sale of tickets by a reseller until 48 hours after the tickets go on sale to the public. The Act also makes it illegal to use computer software to automatically buy tickets. However, consumers with tickets are still able to sell or trade them without a limit on the price that can be asked.

Climate Change Legislation The Province recently re-introduced The Management and Reduction of Greenhouse Gases Act. Under this Act, Saskatchewan will adopt the federal target of a 20% reduction on greenhouse gas emissions by 2020. The Act also establishes a Saskatchewan Technology Fund to administer carbon compliance payments received from large emitters and to finance investments in low-emitting technologies and processes that reduce greenhouse gas emissions, as well as a Climate Change Foundation to promote research and development and demonstration of low-carbon technologies.

Credential Recognition PolicyThe provincial and federal government has introduced a new credential recognition process designed to be more efficient and transparent for Saskatchewan newcomers. Through the new pan-Canadian framework, foreign-trained professionals within designated categories who apply for licensing or professional registration will have a decision in hand within one year of submitting their complete application. In the short-term, the pan-Canadian framework will apply to eight regulated professions; by 2012 the framework will be expanded to include more than a dozen occupations in total.

Value-Added Processing BoostThe provincial government recently

announced that a five-year Corporate Income Tax incentive will be introduced for corporations that process minerals imported into the province to the prime metal stage. The aim of this incentive is to provide encouragement for new and existing firms to establish processing facilities in the province. In order to qualify for the tax incentive, a corporation must operate exclusively in the processing of imported minerals or mineral concentrate to the prime metal stage of development, maintain a minimum capital investment of $125 million in the Saskatchewan operation, and maintain a minimum incremental employment of 75 full-time employees in Saskatchewan. Labour Mobility Changes Saskatchewan has introduced the Miscellaneous Statutes (Labour Mobility) Amendment Act, 2009. The Act is part of a pan-Canadian initiative which makes changes to professional regulatory legislation to ensure regulators recognize professional certification from other provinces and territories in Canada. The Act ensures that residency is not an issue to labour mobility and those workers certified in another province or territory are recognized in Saskatchewan. SaskWater President Retires Stuart Kramer, President of SaskWater for the past seven years and Chair of the Saskatchewan Watershed Authority Board, has retired effective January 3, 2010. Mart Cram, previously the Vice President of Operations and Engineering has been appointed Acting President with Jeff Mander becoming the Acting Vice President of

Operations and Engineering.

Land Sales Slowly IncreasingDecember’s sale of Crown petroleum and natural gas rights brought in $34.9 million in revenue for the province. This was the largest sale of the year and brought the total for the 2009 calendar year to $118.2 million in revenue. December’s sale included 14 petroleum and natural gas exploration licences that sold for $14.7 million and 257 lease parcels that attracted $20.2 million in bonus bids. 2009 was a significantly lower year for land sales in the province compared with 2008 which had revenues of $1.12 billion. The next sale of Crown petroleum and natural gas dispositions will be held on February 8, 2010. WCB Rate ReductionThe Workers’ Compensation Board has lowered the 2010 average premium rate by 1.8%, meaning that rates have been reduced to $1.63 per $100 of payroll. This is the fifth premium reduction since 2004 and represents an overall of 20.5% reduction for employers since then. Under the new rates, 33,150 employers will pay lower WCB rates in 2010, while 2,215 employers will see no change, and 4,700 will pay higher rates.

Interim President at SaskPower Effective January 1, 2010, Garner Mitchell, former Vice-President of Power Production, was appointed Acting President and CEO of SaskPower. Mitchell has been leading SaskPower’s effort in recent years to create power supply arrangement with private companies in the natural gas sector.

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A success story at only ten years old, Phenomenome Discoveries Inc. (PDI) is developing a means for detecting a wide range of diseases, including several types of cancer and Alzheimer’s disease, long before the illness is apparent. PDI has come a long way from its beginnings in the basement of partner and Chief Financial Operating Officer John Hyshka’s home. A Saskatoon-based human health research company, PDI is focused on the discovery and development of novel disease screening and treatment and health monitoring products. PDI has small molecule serum biomarker discovery programs in cancer and neurodegenerative disease, and has validated and filed patents on diagnostic biomarkers in multiple human health disorders.

The company started when Hyshka was introduced to partner Dr. Goodenowe in Saskatoon. From that initial meeting came conversations about metabolonics, and the need for a business plan and capital. “In a nutshell,” said Hyshka, “we met, got along, raised some money, and got started.” But that bare bones description belies the hard work and initiative that it took to get Phenomenone out of the basement of Hyshka’s house. With six months of planning and approximately one year to the date of their initial meeting Phenomenome was

operational. “Our success is due to two factors,” said Hyshka. “Our passion for life sciences, and our ability to follow our business plan.”

Strategic planning is extremely important to the company. “Passion makes everything easier,” he continued, “but the business plan ensures that our decisions are strategic and timely.” Along with these important markers of success is a solid team. “Our staff, now consisting of over 50 people, is made up of independent thinkers who add value to our company. We couldn’t do what we do without them.”

Since its inception, PDI has conducted hundreds of successful biomarker discovery projects on a fee for service basis, in addition to growing its internal and collaborative research network. In late 2007, PDI incorporated a personalized metabolic health research and monitoring subsidiary and developed a novel serum-based diagnostic test for the identification of colorectal cancer which will be the first of its magnitude in the world.

Colorectal cancer comprises one tenth of the global cancer burden, and is the third most common malignancy in the world. Using Phenomenome’s technology, a simple blood test may be all that is required to detect colorectal cancer risk. The Saskatchewan Ministry

Innovative Research -Phenomenome Discoveries

Phenomenome is focused on the discovery and development of novel disease screening and treatment and health monitoring products. Using Phenomenome’s technology, a simple blood test may be all that is required to detect colorectal cancer risk.

Member Profile

Partner and Chief Financial Operating Officer John Hyshka at Phenomenome Discoveries

volume 3/ issue 1 13

of Health and Saskatchewan Cancer Agency are currently collaborating in a clinical trial involving 5,000 patients to further validate the test. In 2008, the company also incorporated a personalized health research monitoring subsidiary opening its first research center, Phreedom Santé in Saskatoon. Most recently in October 2009, Phenomenome Discoveries announced a major breakthrough in the diagnosis and treatment of Alzheimer’s disease. The company has developed a screening test for Alzheimer’s and a novel drug candidate designed to treat what is potentially the root cause of the disease, which one in approximately 11 Canadians over the age of 65 are currently living with (including 18,000 people in Saskatchewan alone). A Saskatoon based clinical trial on the diagnostic test began in late 2009 and the investigational drug will be entering clinical trials in late 2010. The biggest challenges facing PDI are regulatory hurdles. “Issues relating to product development delays definitely increase costs,” said Hyshka. “Product development is expensive and it is a balancing act to figure out how far to push the product in development before we sell it. We find that the sweet

spot between testing and potential product sales can shrink due to regulatory hurdles.” Where do you see PDI in Five Years? “PDI will be headquartered in Saskatoon and be one of the largest biotech life sciences companies in the world.” Hyshka is unequivocal in his assessment of the potential for growth. “I see an increase to anywhere from 200 to 250 employees,” he said, “and as a global company our fingerprint will be everywhere. With our dual focus of cancers and neurological diseases we will continue to grow and become a heavy hitter when it comes to diagnostics.” “We couldn’t do what we do without the support of our community, and I continue to see relationships grow and develop with the University of Saskatchewan, the provincial Cancer Agency, and the Ministry of Health.” The platform of a solid business plan,

continuously evaluated and tweaked, is complimented by the dual forces of a strong team and the passion driving every ounce of the company. “The work we do is exciting. It’s cutting edge, scientific, and needs to be supported by nimble and strong management skills. We wouldn’t be where we are without the strong team that we have, and we anticipate growing further with the help of that team.” Where will Saskatchewan be in Five Years? “Saskatchewan continues to be poised as an economic leader for Canada. With a well diversified economy we have been and will continue to weather the economic storm. The province has worked hard to position itself as a leader, and it is integral to continue that work in areas such as immigration, for example. We need to continue to attract the best and brightest and that is an area that the government can progress in.” “The research sector in Saskatchewan is innovative and vibrant, and we need to ensure that the province is putting together all the pieces so that we can stay that way. Pieces like immigration, infrastructure, and regulations that make sense are all key to keeping our province on top.”

In October 2009, Phenomenome Discoveries announced a major breakthrough in the diagnosis and treatment of Alzheimer’s disease. The company has developed a screening test for Alzheimer’s and a novel drug candidate designed to treat what is potentially the root cause of the disease

Biomarker: A biomarker is in general a substance that can be measured, and is linked to a specific endpoint. For example, high cholesterol has been scientifically linked to increased risk of heart disease. Cholesterol is a metabolite that has been accepted as a marker for heart disease risk.

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After undergoing significant organizational changes in 2008, 2009 was an opportunity to evaluate and refine the new systems through feedback provided in our second annual membership survey. The survey, which focused on core Chamber activities, showed positive responses to the Chamber’s new communication initiatives, advocacy efforts and events.

The past year started out busy as several bylaw changes were approved. These changes resulted in a revised, smaller Board of Directors and refreshed the Chamber’s focus. The first election of the new Board drew eighteen candidates for nine positions and voter turnout among the membership was strong.

Following the election, the Board of Directors updated the Chamber’s Strategic Plan. The 2010-2012 Strategic Plan provides broad goals to help guide and focus the Chamber’s advocacy efforts. The Board also adopted thirteen Key Principles.

The Key Principles lay out the core beliefs of the Chamber, illustrating what the “Best Place to Live, Work and Invest” should look like. The Board of Directors, Expert Policy Committees and Chamber staff use these principles to determine which emerging issues the Chamber will respond to and which changes the organization will advocate for.

After overhauling the Chamber’s external communication methods in 2008, only small changes were introduced over the past year. Member emails have become more streamlined and new features have been added to action!, such as member profiles and timely statistics.

The Chamber was active on the advocacy front this year, particularly with regard to further development of Saskatchewan’s uranium resources. Following the release of the Uranium Development Partnership’s recommendations, the Chamber engaged in a fact-based information campaign focused on exploring the possibility of nuclear power.

The Chamber prepared a Frequently Asked Questions document, attended stakeholder meetings across the province, focused an edition of

action! magazine almost exclusively on uranium development and also participated in several television, radio and print interviews.

The Provincial Chamber continues to support the development of Saskatchewan’s uranium resources including, but not limited to, expanded exploration and mining, new education/research capacities with integrated medical isotope production and the serious evaluation of nuclear power.

Saskatchewan’s future energy supply was a topic of frequent discussion over the past year, and in addition to efforts related to nuclear power, the Saskatchewan Chamber presented and made a formal submission to the Standing Committee on Crown and Central Agencies, which is reviewing the issue. Looking ahead into 2010, the Chamber will continue working to ensure energy concerns are addressed.

The positive changes to Saskatchewan’s labour relations climate were another highlight for the Chamber in 2009. The provincial government introduced Bill 80, the Construction Industry Labour Relations Amendment Act. This legislation is strongly supported by the Chamber and the organization worked with the Saskatchewan Business

SuccessfulAdvocacy

The Chamber Year in ReviewThe Saskatchewan Chamber has undergone several significant changes over the past couple of years in an effort to engage members, shape policy, and make Saskatchewan the best place to live, work and invest.

Left to Right: Richard Ahenakew - 2nd Vice Chair, Brian Schweitzer – Governor of Montana, Holly Hetherington – Chair, Brad Wall – Premier of Saskatchewan and Dale Lemke- Immediate Past-Chair.

volume 3/ issue 1 15

Council to raise public awareness about the benefits of this change.

Action was also taken with regard to the Chamber’s Environmental Management Model. The Model, developed in 2004, takes a new approach to environmental regulation in Saskatchewan. Draft legislation for a new results-based regulatory framework has been introduced and the Chamber has been very active in the development of this framework and the accompanying Environmental Code. The establishment of a Code that provides environmental protection without unduly hindering economic development will continue to be a focus for the Chamber in 2010.

In addition to the progress made on many issues, the Chamber’s advocacy efforts received a boost in 2009 when Enterprise Saskatchewan, the province’s agency responsible for increasing economic development, released its one year progress report. Several parallels can be drawn between the recommendations made by the Enterprise Saskatchewan Board and those being advocated for by the Saskatchewan Chamber of Commerce over the past few years.

This development will hopefully add momentum to some of the Chamber’s

policy recommendations.

Continuing on the theme of coordinated advocacy in late 2008 and early 2009, the Saskatchewan Chamber partnered with the Canadian Chamber of Commerce and other chambers across Canada to respond to the political uncertainty occurring in Ottawa.

The response to this coordinated effort was remarkable: 4865 business members across Canada, including 313 from Saskatchewan, participated in an online survey. Before the conclusion of the Chamber Network’s activities, both major political parties asked the Canadian Chamber for its public support of their attempt to form government; however, the organization remained non-partisan.

Of particular importance in 2009 was the enhancement of the Provincial Chamber’s relationship with the federal government. Following the uncertainty in Ottawa at the end of 2008, the Chamber decided to reconnect with local Members of Parliament.

The organization held two Federal Political Forums in 2009, providing Chamber members with an opportunity to talk to the Members of Parliament and Senators representing Saskatchewan. The format of this event will continue to be reviewed to ensure the most productive possible outcomes are achieved.

Additionally, Chamber CEO Steve

McLellan had the opportunity to participate in small group meetings with the Prime Minister Stephen Harper and Finance Minister Jim Flaherty, and the Chamber made a presentation to the Federal Standing Committee on Finance and the Saskatchewan Conservative Federal Caucus.

Outside of its advocacy efforts, the Provincial Chamber is continuing to change and update its annual events to ensure maximum member engagement and return on investment. Following the Conference on Business in 2009, the event was reviewed and changes are being made to the program to ensure the best possible speaker lineup and overall conference experience.

Furthermore, the Chamber has conducted an in-depth review of the ABEX Awards program, reevaluating the number of the awards presented and the timelines for nominations in order to ensure that the event continues to improve and grow as it enters its 27th year.

The Saskatchewan Chamber has undergone several significant changes over the past couple of years in an effort to engage members, shape policy, and make Saskatchewan the best place to live, work and invest. Although progress has been made, these efforts will continue into 2010 and beyond.

Thank you for your continued support.

Saskatchewan’s future energy supply was a topic of frequent discussion over the past year and in addition to efforts related to nuclear power, the Saskatchewan Chamber presented and made a formal submission to the Standing Committee on Crown and Central Agencies which is reviewing the issue.

action!16

Key Results of the Survey include:• Businesses are more optimist about the state of the

economy as of December 2009 than they were in June 2009.

• 52% of respondents increased business revenue in 2009, down from 78% in 2008.

• 60.3% of respondents are expecting to increase business revenue in 2010, about the same number as last year.

• 31.4% of respondents expect to increase capital investments in their business in 2010, down from 39% last year and 75% in 2008.

• 61.3% of respondents experienced wage increases in 2009 compared to 81% in 2008.

2010 Economic Outlook

Looking Forward

The Saskatchewan Chamber’s 2010 Economic Outlook Survey showed a significant decline in the number of businesses that experienced revenue increases in 2009. Only 52% of respondents experienced increased business revenues, down from 78% in 2008.

“The number of Saskatchewan businesses that did not experience growth in 2009 is concerning, however it is particularly worrisome that 24.3% of businesses experienced a decline in revenues. We have not seen numbers like this on our survey since the early 2000’s,” said Saskatchewan Chamber of Commerce CEO Steve McLellan.

“If unchanged, declining revenues can result in layoffs and a shrinking economy,” continued McLellan. “Hopefully, the projections put forward

by survey respondents are corrected and these numbers stabilize in 2010.”

According to the survey results, the majority of respondents indicated that the worst of the recent recession appears to be over for Saskatchewan businesses. 93.7% of respondents expect the overall state of their business to remain the same or improve in 2010, with only 6.3% expecting things to get worse.

Additionally, most respondents are projecting that their markets will either grow or remain the same in 2010.

“In 2009 we saw significant declines in national and international markets; 20.6% and 23% of business experienced declines respectively, according to survey respondents. Looking toward 2010, respondents

believe national and international markets will recover slightly (36.7% expect growth nationally and 36.2% expect it internationally). However, the majority (57.4% and 56.9%) believe that national and international market size will remain the same,” explained McLellan.

Despite worldwide turmoil, Saskatchewan markets were a very different story in 2009. Provincially, only 10.4% of respondents reported a contraction of their market base with the majority (56.5%) expecting their provincial markets to expand in 2010.

Wages and salaries, like many indicators, did not meet projections in 2009. At the end of 2008, 81% of survey respondents were expecting

volume 3/ issue 1 17

to increase wages and salaries in their company, however, according to the 2010 Economic Outlook survey, only 61.3% of respondents actually did.

“In 2008, 85% of businesses who responded to our survey experienced increased wage and salary expenses. The lack of growth in this area reflects the lack of growth in business revenue and the layoffs that plagued some sectors,” added McLellan.

“Fortunately, the number of respondents expecting wages and salaries for their company to decrease has remained the same at approximately 3% year over year, which means that although large growth is not expected (66.4% of respondents are expecting wage and salary expenses to increase in 2010), there will be more stability.”

Overall, staff levels were also expected to remain stable in 2010 with 48.6% of respondents expecting to employ the same number of full-time staff and only 9.9% expecting to reduce the number of full-time staff they employed. This is a positive change from 2009, when 19.1% of respondents reduced the amount of full-time staff they employ.

When asked to rank their business issues and priorities for the coming year, recovery was clearly at the top of the agenda. Building market share and sales development was identified as the number one priority for the second year in a row, followed by workforce

training and retaining.

“We have seen a definite lessening of the pressures related to the labour shortage over the past year. Only 25.6% of survey respondents had jobs remain unfilled in 2009 due to a shortage of qualified workers, whereas almost 40% experienced the same problem in 2008,” said McLellan.

“It is easy for businesses and policy makers to forget about workforce issues, particularly as more pressing issues are front and centre. However, many of the labour issues facing Saskatchewan are structural because of

our demographics and it is important that this issue continues to remain near the top of the list.” To see the complete result of the 2010 Economic Outlook Survey please visit www.saskchamber.com.

Business Issuess in Order of Priority as per the 2010 Economic Outlook Survey

1. Building Market Share- Sales Development.2. Workforce- Training, Retaining, and Locating Staff3. The Economy and International Markets4. Taxation- Corporate and/or Personal5. Availability of Financing6. Paper Burden- Regulatory Compliance, Permits, etc.7. Capital Expansion

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Two years after the launch of the Saskatchewan Chamber’s “Sustainable Growth Strategy for a New Saskatchewan” the province’s population has hit an all-time high. Statistics Canada has announced that as of October 2009 the population was 1,034,974. This surpasses the previous record of 1,032,799 which was reached in July 1987.

The updated population number puts Saskatchewan only 9,700 people short of the 2009 Growth Strategy Target. Achieving the 1.75% annual growth rate targeted by the Strategy would mean that by 2030, 1.5 million people would be living in Saskatchewan. While the current year is a bit below the target, it is likely that the population numbers up to the end of December 2009 will move the province even closer to this goal.

Coinciding with the announcement of the updated population numbers, the Provincial Chamber released its 2009 annual update on the Growth Strategy indicators. In addition to the population target, the “Sustainable Growth Strategy for a New Saskatchewan” lays out 20 key indicators in areas such as employment, GDP, and capital investments that

need to be achieved for Saskatchewan to afford the cost of serving our aging population while continuing to provide a range of public services and a high standard of living.

The majority of the 21 key indicators identified in the Strategy have shown positive progress since 2006, but there is room for improvement and several are just slightly below the targeted growth rate.

Fortunately, certain areas such as personal disposable income and the population’s age distribution are above the Growth Strategy’s targets. However, the number of post secondary students and the amount private sector capital investment currently taking place in the province is of concern.

“Despite the uncertainty and decline experienced across the world this past year, Saskatchewan continues to show positive growth, however, we cannot get complacent. We need to make sure we are able to support and facilitate balanced growth of our economy and population or else we will face significant challenges in the future as our demographics continue to put pressure on the tax base,” noted Saskatchewan Chamber of Commerce

CEO Steve McLellan.

The Saskatchewan Chamber will continue to urge governments, businesses and residents to implement policies and adopt attitudes that support growth for all of the 21 key indicators.

“Favourable tax policies, regulatory systems, and social services help retain and attract the employers and employees that are necessary to our province’s success,” continued McLellan. “We all have a role to play in making sustainable and strategic growth a reality in Saskatchewan. Share Saskatchewan’s success story and the great opportunities we have here with your family and friends in other jurisdictions. New jobs and new residents can start with a simple conversation.” Looking ahead, Saskatchewan is poised for growth. The Conference Board of Canada is projecting that the province will grow by 3.7% in 2010, bringing Saskatchewan still closer to reaching 1.5 million people and achieving the Growth Strategy targets.

For more information on the Chamber’s “Sustainable Growth Strategy for a New Saskatchewan” or to review the complete Annual Report, please visit www.saskchamber.com.

Growth Strategy Update“Despite the uncertainty and decline experienced across the world this past year, Saskatchewan continues to show positive growth, however, we cannot get complacent. We need to make sure we are able to support and facilitate balanced growth of our economy and population or else we will face significant challenges in the future as our demographics continue to put pressure on the tax base.” - Steve McLellan, Saskatchewan Chamber CEO

Working for You

The next Growth Strategy update will be in June 2010.

volume 3/ issue 1 19

The Saskatchewan Chamber’s Expert Committee on Finance recently met with Rod Gantefoer, Minister of Finance to discuss the 2010-2011 provincial budget.

While the Chamber is aware of the short term challenge due to the significant decline in expected revenues, we believe the province can use this crisis to change some of the spending and budgeting habitats that have become common place.

The Provincial Chamber would like to see spending increases controlled with a framework established to control expenditures based on population numbers and/or consistent government revenues. Reducing government waste and eliminating redundancies should also be priorities for the government.

However, despite the tightening of revenues, Saskatchewan still has the fiscal capacity to do those things that will grow the province. By being selective in investments now, even greater results will be seen in the future.

To prepare for its pre-budget meeting, the Chamber surveyed its members and the majority of them encouraged the government to invest in its people. Reducing personal income tax was identified as the key issue the government should address.

A reduction in personal income tax would assist in the attraction and retention of residents, and leave more money in peoples’ pockets for them to

reinvest in the economy.

A reduction in the province’s corporate income tax was also identified as a strategic spending investment and the majority of survey respondents indicated that a reduction in this tax would cause their business to invest more capital or create new jobs in Saskatchewan.

During the meeting, Chamber representatives encouraged the government to increase revenues and grow the economy by supporting the development of Saskatchewan’s private sector. The Chamber encouraged the government to use private sector companies to supply services. This would result in the creation of additional economic stimulus and reduce the operating costs for

government, creating greater economic returns for residents.

Despite its recommendations, the Chamber recognizes that the government has made significant improvements to the province’s tax structure. Increasing the income tax threshold and changing the property tax structure have helped make Saskatchewan a more competitive place to do business. Additionally, the government has put significant revenues towards debt reduction that will benefit the province for years to come.

Nevertheless, this progress cannot stop. With business optimism and overall support for the government high, now is the time to position Saskatchewan for strong future growth.

Recommendations for the 2010/2011 Provincial Budget:• Focus on government efficiencies and the elimination of

redundancies.

• Avoid a deficit. Clearly stated, this means “spend less than you earn.”

• Reduce and restructure personal income taxes. The move to a flat tax of 10% or 11% is recommended.

• Review the commercial aspects of the Crowns. Examine opportunity for private sector business providers that will reduce capital costs and increase efficiency.

• Ensure the principle of long term economic benefit is recognized for decisions on capital investments.

• Create a resource revenue projection based on long term figures. Use excess revenues for specific investments instead of for general operations.

• Set a framework around government expenditures based on population numbers or consistent government revenues.

Chamber Engages in Pre-Budget Consultation

Shaping Policy

action!20

Strategic VisionAs outlined in the first article, it’s important for small business owners to develop personal and professional goals prior to the succession planning process. Dependent on how far away the owner is from retirement, this should include a ten-year vision as well as a five-year business strategy.

In the written succession plan, business objectives from the ten-year vision and five-year business strategy should be translated into a detailed timeline and final decision making framework. The goals and objectives outlined will be an important part of creating a foundation from which the succession plan can be developed in the future.

Having these business goals and objectives accompanied by the timeline and decision making framework will also be valuable if an unforeseen circumstance arises that leaves the business owner incapable of running the business. The future of the business becomes far less uncertain if a comprehensive succession plan is already established for a new business owner.

Creating the Ideal Exit ScenarioTo create an ideal exit scenario, the business owner needs to be

replaceable. If the continued success of a business is completely dependent on either the skills or knowledge of one owner/operator, then there really is no business to succeed.

Business procedures and policies need to be developed and documented to ensure that the business has continued success years after the business owner leaves. Creating the ideal exit scenario also necessitates hiring and training a strong management team that can manage the business when the owner isn’t there.

A written succession plan should

include a detailed organizational chart that defines the roles of both the business owner and key employees. This chart, and accompanying written procedures, should work as a stand-alone guide that can be passed down to new owners of the business. Key to the succession plan itself is the definition of both the roles key members of the staff play during normal operations, as well as the responsibilities they will be required to take on during the actual transfer of ownership.

Choosing a SuccessorIf a business owner identifies ahead of time who will be the successor, they can better design a succession plan and transition strategy that suits the needs of that particular successor. Whether the chosen successor is a family member, a staff member, or an outside buyer, their different levels of experience with the business may

Succession Planning for Your Business

Implementing an Action Plan

Y ou are reading the last article in the series “Succession Planning for Your Business!” Over the course of the past five articles we have introduced the four major steps of succession planning. In this final installment we will touch on the most important points related to each step, and discuss in detail how these

components should come together to form your succession action plan!

Five Simple Steps...The following are the five most important components of succession planning:

1. Establish a strategic vision for your business.2. Create the best possible scenario for you to exit the business.3. Open professional and personal lines of communication to

facilitate choosing a successor.4. Determine the financial implications of leaving/selling the

business.

The fifth and final step involves defining procedures for each of the prior components and implementing your action plan!

volume 3/ issue 1 21

warrant different types of transition strategies.

If the business owner starts developing the succession plan well in advance of exiting the business, it may not be feasible to choose a successor. However, when succession planning is started early, the business owner can always identify the skills and abilities that the best successor will possess and create a set list of deciding criteria that can be used when the time actually comes to decide.

Financial Implications Finally, the legal and financial implications of selling a business tend to be very complicated in nature. Depending on the business owner’s level of expertise, they will likely require the assistance of professional advisors (e.g. an accountant, tax specialist, lawyer, financial advisor, business broker, or business valuator) to evaluate related legal and financial issues.

There are a few key areas that will need to be dealt with to help ease the final

transfer or sale of the business. First, business owners should consult an accountant to determine the most tax efficient way to structure the business. As well, closer to sale, business owners will need to clean-up their financial statements according to Generally Accepted Accounting Principles (GAAP) to ensure easy review by prospective buyers.

Another important step for the business owner will be reviewing their own financial requirements outside of the business to ensure that they have set-up the appropriate retirement compensation, likely including an independent pension plan. Finally, with the help of a financial advisor and business broker, a realistic valuation of the business needs to be prepared, taking into account the business’s assets, earnings, intellectual property, market position, and reputation. Written by Andrea Mulholland, fourth-year student at the Paul J. Hill School of Business, University of Regina. Andrea is a student consultant with the Centre for Management Development at the University of Regina. The Centre provides business consulting services, Executive Leadership Development and customized training, and publishes applied research. Visit www.uregina.ca/admin/cmd.

Final Tips

• Make yourself replaceable.

• Be detailed in your planning!The value of your succession plan for a new business owner will be all in the details.

• Revisit your succession plan often, and make changes as the business changes.

• Involve professionals.

• Remember, it is never too early to start succession planning!

Previous issues of “Succession Planning for Your Business” are available at www.saskchamber.com.

action!22

Saskatchewan is home to approximately 80 municipal Chambers of Commerce. These organizations serve communities of every size and fulfill a variety of functions from local advocacy and networking events to tourism promotion.

Each of Saskatchewan’s chambers is member driven and serves the businesses in their community. While some chambers have paid staff, many are operated by volunteers. It is the desire to connect these diverse individuals that sparked the development of the Chamber Leaders Group.

Current Chair of the Chamber Leaders Group, Pat Tenney, Executive Director of the Lloydminster Chamber of Commerce, sat with action! to share more about the group.

Editor: What is the Saskatchewan Chamber Leaders Group?

Pat Tenney: The Chamber Leaders Group is made up of executive directors, CEOs, presidents and other representatives responsible for the operation of Chambers across Saskatchewan. The Group offers an opportunity for Chamber leaders to come together and share ideas for membership attraction, non-dues revenue generation, and retention programs. It is also a great place to discuss issues facing your chamber and to find support and new ideas.

Editor: What do you gain by participating in the Chamber Leaders Group?

Pat Tenney: In addition to the support and ideas offered by other chambers, the group also hosts professional development sessions during the meetings. Recently topics were; How to Deal Productively with a Board of Directors, Effective Lobbying, and Developing a Business Plan for a Chamber. These are great opportunities for some specific discussion on issues that matter to all chambers.

I really believe that the personal development offered through the Chamber Leaders Group helps to make all of us better at our jobs and better ambassadors and marketers for our Chambers.

Editor: How often does the Chamber Leaders Group meet?

Pat Tenney: The group formally meets twice a year, once in May, as part of the Provincial Chamber’s Conference on Business, and once in November.

However, I find one of the most valuable parts of the Chamber Leaders Group is the ability to connect with other executive directors, CEOs and chamber volunteers as issues arise by conference call or email throughout the year. It is wonderful to be able to send out a quick email and receive mentoring from so many people in a similar position.

Editor: How do new members get involved in the Chamber Leaders Group?

Pat Tenney: We always encourage chamber leaders, new and old, to get involved in the group. Even if you have been in the chamber world for 20 years, there is something new you can learn.

For individuals who are new to the chamber world or who represent chambers without the financial resources to attend the meetings, the group has benefited from generous financial assistance offered by Chamber Group Insurance. This assistance covers some of the travel costs associated with attending meetings for individuals from smaller chambers.

If you are serious about strengthening your local business community and your career as a chamber leader, it is very valuable to meet new colleagues who can help make the chamber network even stronger and the Chamber Leaders Group is a great place to do this.

To learn more about the Chamber Leaders Group contact Trevor Doroshenko, Membership Coordinator for the Saskatchewan Chamber of Commerce at tdoroshenko@saskchamber.com or Pat Tenney at pat@lloydminsterchamber.com.

Chamber Leaders Connect

“I really believe that the personal development offered through the Chamber Leaders Group helps to make all of us better at our jobs and better ambassadors and marketers for our Chambers. “ - Pat Tenney, Executive Director, Lloydminster Chamber

NetworkingOpportunity

2010

SIAST Business and Industry Dinners are your opportunity to meet the SIAST students that are going to help your organization grow and prosper. Over the course of the evening, you can meet and talk with students enrolled in programs directly related to your operations. It’s your opportunity to identify and begin developing relationships with your future employees…the opportunity to begin the increasingly important recruitment process, giving you a leg up over your competition.

Get your organization on the radar of probably the most important target group for your company…prospective employees. SIAST grads are the people you want, and the people you want to get to know.

A Business and Industry Dinner is planned for every one of SIAST’s four campuses. One or more of those campuses is going to be the right source of potential employees for you.

Proceeds from the events will support scholarships and bursaries for SIAST students.

SIAST Wascana Campus � ReginaDate: Thursday, February 25, 2010

Location: Queensbury Convention Centre 1700 Elphinstone Street

Speaker: Ron Waldman, CEO,Great Western Brewing Company

Reception: 5:00 p.m.

Dinner: 6:00 p.m.

Event Partner:

Call 306-659-3733 for ticket and sponsorship information.

Date: Monday, February 8, 2010

Location: Prince Albert Golf & Curling Club900–22nd Street East

Speaker: Dr. Alika Lafontaine: Physician and 2008 winner of the “Canada’s Next Great Prime Minister” competition

Reception: 5 p.m.

Dinner: 6 p.m.

Event partner:

SIAST Woodland Campus � Prince Albert

SIAST Palliser Campus � Moose JawDate: Thursday, February 11, 2010

Location: Heritage Inn1590 Main Street North

Speaker: Ron Buist, Inventor of Tim Hortons“Roll up the Rim to Win…”

Reception: 5:00 p.m.

Dinner: 6:00 p.m.

Event Partner:

SIAST Kelsey Campus � SaskatoonDate: Thursday, February 18, 2010

Location: Saskatoon Inn2002 Airport Drive

Speaker: Steve McLellan, CEO, Saskatchewan Chamber of Commerce

Reception: 5:00 p.m.

Dinner: 6:00 p.m.

Event Partner:

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