We help small business grow... 2013 14 Annual Report
W W A, W W D Community Futures (CF) is a na onal economic development program funded in western Canada by Western Economic Diversifica on Canada. Community Futures are nonprofit organiza ons guided by volunteer boards of directors and staffed with business professionals. Together, CF staff and community volunteers are ac vely engaged in helping to develop and implement community based economic development and diversifica on strategies. These strategies create growth within our rural communi es one idea at a me. A C Community Futures organiza ons (CFs) are developmental lenders. Priority is given to viable business ideas that result in wealth genera on for the business and economic development for the community or region. CFs may invest in qualified business projects to a maximum of $150,000.00. Terms and borrowing rates are compe ve and ed to the cash flow of the business. B S CFs provide a wide range of coaching and technical advice to businesses, including assistance with business planning. S C P S For rural communi es to con nue to compete in a fast changing world full of economic uncertain es, they must adopt new economic development strategies. These strategies must be focused and inten onal, but also flexible enough to allow the community to capture new opportuni es presented by a truly global market place. Community Futures organiza ons provide essen al community support and, at mes, community strategic planning leadership. Addi onally, all CFs have access to special project funding designed to assist communi es in successfully implemen ng iden fied economic diversifica on strategies. O M O V O P O V To facilitate rural diversifica on through business and community economic development Healthy, thriving, diversified region The purpose of Community Futures Peace Country is... to support community economic development, encourage rural diversifica on and innova on, s mula ng and diversifying the regional economy through viable business plan development and developing innova ve economic development ini a ves Innova ve Entrepreneurial Accountable Professional A R 2013/14
B D Brian Turpin Peace River Chair s Message: I feel very fortunate to have played a small part in the success of Community Futures Peace Country and to have worked with a commi ed Board of Directors and Staff over the past six years. As I finish off my last term on the Board, I am extremely proud of our CF and the tremendous work that it has accomplished in encouraging economic growth in our communi es here in the Peace Country. These are exci ng mes as we look ahead at the poten al for growth in our area. Again this year we have worked closely with our funder (Western Economic Diversifica on) in exceeding our performance targets as we have for the past number of years. I a ribute our con nued success to two solid components in our local Community Futures, a strong and commi ed Board of Directors, that I have been privileged to work with, and a dedicated General Manager and staff that together share a common goal and passion to see our region grow and prosper. Together, as a team, they have worked hard to foster economic development, focusing on small business growth in our region. Our staff have commi ed countless hours of mentoring with entrepreneurs behind the scenes over the years, which speaks to the added value of Community Futures in our communi es. My personal and sincere thanks go out to my fellow Board Members and our dedicated CFPC staff for all their hard work this year and over the past six years! I wish the Board of Directors and Staff many more years of con nued success as you con nue to be play a vital role in economic growth and diversifica on in our region. Community Futures Peace Country is governed by a dedicated volunteer Board of up to 12 members from throughout the region. Raoul Johnson 1st Vice Chair Falher Beatrice Tourangeau 2nd Vice Chair Cado e Lake Roger Smiley Director Manning Janet Sinkwich Director Rycro Elaine Garrow Director Spirit River Shane Himmelman Director Peace River C F C
S Randy Hodgkinson General Manager Community Futures Peace Country staff are knowledgeable, well trained and commi ed to providing their best to our clients and partners as we facilitate rural diversifica on through business and community economic development. Be e Klath Office Administrator Deb Kalyn Business Officer Sherry Crawford Projects Coordinator GM s Message: As another year passes, I find myself reflec ng on a pa ern not unfamiliar to a developmental lender like Community Futures. When the economy is good our numbers tend to go down and conversely when the economy is not so great our numbers go up. When there are lots of good paying jobs some less dedicated entrepreneurs tend to fall back on employment rather than striking out on their own to start a business. Just the opposite is true when mes are tough. So, while approving 16 loans this year, totaling $826,5000, is only average for our CF, it is a good indica on that the overall economy in the region is doing be er. CED projects con nue to be a successful part of what we do at CFPC. Highlights for this year include the sixth annual Women in the North Conference and the Northern Alberta Youth Entrepreneurship Camp. A new ini a ve this year was the highly successful Move Up Magazine. This locally published lifestyle magazine is another brainchild of the Regional Economic Development Officer s Network. This highly imagina ve and hard working group con nue to lead the province in defining what regional collabora on can accomplish. Check out the story around this project and the Business Support Network project on page 9. I have said it countless mes that we are in the people business and people do business with people they like. The key to our success is, and always will be our amazing, likeable Board and staff. I am blessed with a Board that gets it and who fulfill their roles with both their heads and their hearts, a true asset in our world. Office administrator Be e Klath is solid on the front line and Deb Kalyn s skills as Business Officer con nue to set her apart from the crowd. This year we said a sad adios to Projects Officer Agnes Knudsen as she followed her dream of being a true senorita. On the bright side we now have a contact in Mexico. My lucky streak of finding just the right person for our team con nued as we welcomed Sherry Crawford to fill the Projects Coordinator role just in me to make WIN 7 another huge success. Welcome aboard Sherry. It s like you have always been here. My hear elt thanks to each and every one of you who make my job easy! A R 2013/14
B E S L P A M 31, 2014 Loan Balance Outstanding as at March 31, 2014: $3,221,789 B S R C F P C
L N L Y D V L Y IT S A FACT: CFPC lending and business development ac vity leveraged over $1.5 million in 2013/14. IT S A FACT: Since 1995 CFPC has loaned over $14 million to more than 300 businesses in the Peace Region. A R 2013/14
C H OT Sports Peace River, AB Fueled by his passion for sports, Trevor left his job as a corrections officer to fulfill his dream of owning a sporting goods store. With sporting goods business advice from his brother and the financial assistance of Community Futures, Trevor and Shana Sack opened OT Sports in the spring of 2013. An avid sportsman himself, Trevor was easily able to build strong working relationships with the local schools and sporting organizations and provide a much needed service to the area. In a few short months, the business has grown exponentially a testament to Trevor and Shana s commitment to excellence in customer service. Wolf Honey Inc. Guy, AB Wolfe Honey Company Inc. is a major Alberta producer of certified organic honey, conventional honey and bee pollen. Gilbert and Sharon have owned the business for over 26 years and their honey is distributed nationally and world wide. Due to the increased market demand for bulk honey, Gilbert and Sharon Wolfe needed to increase the number of bee hive colonies and expand their honey processing plant. With the financial assistance of Community Futures Peace Country and Agricultural Financials Services Corp., Wolfe Honey will be able to produce more raw honey and process the volume of honey they need to keep up to the ever growing market place demands. South Peace Communica ons Valleyview, AB As owners of New Tech Oilfield Rentals Ltd. for over two years, Rob and Linley Coward are no strangers to the oil and gas industry. When the opportunity to purchase South Peace Communications arose, Rob and Linley jumped at the chance to expand their oil and gas related services. A retail supplier of cell phones, cell phone boosters and two way radios, South Peace Communications also owned a cellular tower. With the financial assistance of Community Futures Peace Country and Business Development Bank of Canada, Rob and Linley were able to purchase the business and the cellular tower and position themselves as a full communications provider in the Valleyview area. C F C
CED P Move Up Magazine A er successfully launching the inaugural issue in the spring/summer of 2013, Plato s Cave Publishing, a Community Futures client from Peace River, followed up with volumes II and III and is currently working on volume number IV of the Move Up Magazine. This magazine is a project of the Regional Economic Development Officers Network that highlights the Peace Region as a place to live, work and do business. The direc on and support of the regional municipali es, through the EDO Network, combined with the crea ve talents and publishing exper se of Plato s Cave Publishing have come together to create a truly professional and relevant publica on that con nues to a ract a en on. Current distribu on stands at 12,000 copies and many of the regions larger employers have recognized the significant role that this magazine can play in their staff recruitment/reten on programs and are showing their support through adver sing. Chalk this one up as yet another successful ini a ve from the Community Futures Peace Country facilitated Regional Economic Development Officers Network. Business Support Network Community Futures Peace Country and Alberta Works have come together to collaborate on the Peace River Business Support Network. The network was formed to support local business around labour market recruitment and reten on issues. Ini ally, roundtable mee ngs were held to iden fy the issues and begin to develop a plan of ac on to address the iden fied needs. The network has now entered it s second year and counts several successes over that me including the forma on of a splinter group focused specifically on the labour market needs of financial ins tu ons and the insurance industry; facilitated discussions between local business and educa onal ins tu ons to help iden fy gaps and expanded training opportuni es as well as informa on sessions around Genera onal Workplace issues. Many thanks to Johanna Downing, Business and Industry Liaison, Alberta Works, Peace River Area Office for her con nued support and work on this project. The need for this support network will only grow as the local economy heats up around the an cipated expansions in the Peace Oil Sands. C F P C
CFPC R CF Peace Peace River Popula on: 50,000 50 Communi es 26 Municipali es 4 First Na ons 122,000 square kms
T Y I P
Community Futures Peace Country 9816 98 Avenue Peace River, AB T8S 1J5 P: 780.624.1161 F: 780.624.1308 Toll Free: 1.877.851.9996 E: admin@cfpeacecountry.com Website: www.cfpeacecountry.com Growing communities one idea at a time.