7 ways to give your business a professional look Risk Management:

Autumn 2011thefocusA periiodiicall publliicattiion aboutt busiiness iin Centtre Welllliingtton7 ways to giveyour business aprofessional lookPage 12Risk Management:4 easy stepsPage 14

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AWORKING FOR YOUMark Your CalendarChamber DirectorsBusiness After HoursWed., November 16, 2011Location: Stonehurst B&BAddress: 265 St. David St. S., FergusHost/Owner: Deb & Rich SchliekerNetworking BreakfastMichael WeinsteinPresidentJanet Harrop1st Vice PresidentNardo Kuitert2 nd Vice PresidentWed., November 30, 2011Topic: BrandingSpeaker: Brent Barr, FalconInnovation GroupLocation: Gorge Country KitchenChamber Christmas PartyPaul WalkerSecretary TreasurerGarth GreenPast PresidentBarney TracyDirectorSat., December 3, 2011Location: New St. Joseph‟s CatholicChurch Hall (Fergus)Time: 6:00 pm – midnightBusiness After HoursWed., January 18, 2012Location: Noecker Travel;Uptown CaféAddress: 123 Metcalfe St., EloraCo-Hosts: Debbie Bath& Noreen WinterAileen HawkinsDirectorLynne BardDirectorDon CubbidgeDirectorMayor‟s BreakfastChamber StaffWed., January 25, 2012Speaker: Joanne Ross-ZujLocation: Grand River RacewayTime: 7:30 – 9:00 amRoberta ScarrowGeneral ManagerHeather AndrewsMembership & AdministrationT h e F o c u s A u t u m n 2 0 1 1 | 3

CONTENTSCWCC Board of Directors and Staff ...................................... 3President‟s Piece ................................................................... 5Member Article: GROWING AGAIN? .................................... 6Welcomes and Renewals ...................................................... 7Member Profile ...................................................................... 9Member Article: HOW MUCH HOMEOWNER‟SINSURANCE DO I NEED? ......................... 10Pictures of Chamber Events................................................... 11Member Article: 7 WAYS TO GIVE YOUR BUSINESS APROFESSIONAL LOOK ............................. 12Business News ...................................................................... 13Member Article: RISK MANAGEMENT................................... 14Member Discounts ................................................................ 16Member-to-Member Program ................................................ 16Member Article: USING BUSINESS ASSETS TO SUPPORTRETIREMENT INCOME............................... 17DESIGN AND PRODUCTION:Michael Black, Heather AndrewsPHOTOGRAPHY:Bill Longshaw, Heather Andrews, Roberta ScarrowADVERTISING AND SALES:Nardo Kuitert, Chair of Communications Committee519-787-7612 | Advertising@cwchamber.caCONTRIBUTING WRITERS:Michael Weinstein, Nardo KuitertCONTRIBUTORS:Ontario Chamber of Commerce, Canadian Chamber ofCommerce, Garth Green, Steve Lund, MichelleHuestis, Jeremy Woods, Uptown CafeSUBSCRIPTION AND BACK ISSUE INQUIRIES:Roberta Scarrow - TheFocus@cwchamber.caSUBMISSION POLICY:Proposals and articles are accepted via mail or emailc/o Editor – The Focus. Please do not send originals.Contributors are welcome to include a head shot and a40 word author‟s bio. If not received, we will useauthor‟s name, business name and contact informationas a credit line.FOR PERMISSION AND REPRINT REQUESTSHeather Andrews – TheFocus@cwchamber.caPUBLICATION OF:Centre Wellington Chamber of Commerce400 Tower Street SouthFergus, Ontario N1M 2P7MISSION STATEMENTThe Centre Wellington Chamber of Commerce is a memberdrivenorganization that:The Focus is a periodical membership benefitpublication of the Centre Wellington Chamber ofCommerce. Advertising content and the viewsexpressed herein are those of the contributors and donot constitute endorsement by the Chamber. Copiesare available through the Publisher. The Chambercannot be held responsible for any errors or omissionsthat may occur and has the right to edit materialsubmitted. The Chamber will not accept advertisingwith competitor comparison claims and has the right torefuse advertising that is deemed to be false,misleading, or inappropriate.Serves as a catalyst for business growth throughnetworking and educational opportunities.Acts as an information resource for local business.Promotes local business, the community and theChamber.We are a volunteer organization supported by over 350 localbusiness and professional people such as yourself.PG. 13 – PICTURES OF CHAMBER EVENTSin order from left to right:Your participation in the Chamber helps make CentreWellington a more rewarding place to live, work and play.4 | w w w . c w c h a m b e r . c aBusiness After HoursFireworks SalesAwards of Excellence2 nd Annual Local Biz Night at Grand River RacewayRibbon CuttingTable Top Trade ShowCWCC Golf DayNetworking BreakfastAll Candidates MeetingChristmas Parade FloatCWCC Christmas Party

PRESIDENT'S PIECEWelcome to the Centre Wellington Chamber of Commerce new,electronic magazine!Michael Weinstein - CWCC PresidentThe Chamber continues to explore avenues to reach out to ourmembership and increase the value of a chamber membership.Our goal is for this new publication to provide more space thanour current “Blink” provides, and with that, we will strive toprovide more information. This is not to say that we won‟tcontinue with the “Blink” for more time sensitive issues but it isour hope that this format will help answer the “why should I jointhe chamber?” questions. WHY? There is value in educationand this magazine format will offer greater capacity to delivereducational content.Membership in the Chamber is not a social club. It is not a sales club. It is certainly not a proverbial “oldboys club”. The purpose of the Chamber is to act as a catalyst for business. The purpose of the chamber isto be a resource for business information and a voice of the business community.Through advocacy at the local, provincial and national level, the Chamber works to further the interests ofbusiness. Membership in the Centre Wellington Chamber of Commerce automatically provides localbusinesses a voice with both the Ontario and Canadian Chambers of Commerce. It is interesting to notethat each chamber, at the provincial and national level, has one vote acting on advocacy and policydecisions. This means that our „small‟ chamber has the same weight as a Toronto or Vancouver chamber!This being said, we still depend on our membership to challenge and inspire us. We conduct RibbonCuttings to celebrate new business openings or similar achievements. Most recently we worked with thetownship on the Sign Bylaw. This was an interesting exercise. We worked on behalf of all businesses toensure that the sign bylaw being proposed by the Building Department kept the needs of the businesscommunity on the table. While the bylaw is not perfect, we do have agreement from council that it can be revisitedand modified as necessary. It was an opportunity to work WITH council rather than as a dissentingvoice.We strongly encourage all businesses to join the chamber. Our membership fees are reasonable – basedon the size of each business. Some of our members choose to join and become actively involved withvarious committees; others join and support the chamber through attendance at various special events.Some companies join for the training and educational opportunities. We are continuing to develop andpresent more “business related” seminars – at a reasonable cost and with valuable information content.Some companies join and we never see them – and that is fine. They join the chamber because theybelieve “it is the right thing to do”. They value the work of the chamber to improve the overall businessclimate in the township.We hope that you enjoy this new publication and find it valuable. It is environmentally friendly – no paper –so print what you want and feel free to forward, electronically, to your staff and colleagues. If you havecomments or suggestions, or wish to share your knowledge on a particular subject by writing an article,please contact us – we‟re listening. We‟re doing our best to make sure YOUR chamber provides you withmembership value for YOUR business!Michael WeinsteinPresidentCentre Wellington Chamber of CommerceT h e F o c u s A u t u m n 2 0 1 1 | 5

GROWING AGAIN?Save Time and Energy By Creating Effective JobAdvertisements“Here we grow again” has become acommon phrase found in many jobadvertisements. Although it‟s a catchyline, employers may still find themselvesinundated with applicants who do notmeet their expectations.If you have found yourself in thissituation, try increasing your odds ofattracting qualified applicants by using awell written job advertisement thatincludes very specific details of yourbusiness needs. For example, considerstating the applicant must haveproficiency in Microsoft Office vs.applicant must have computer skills.Such detail will allow applicants todetermine if their skill level matches yourexpectations before they even considerapplying. Providing additional companyspecifics, such as not on a bus route, willalso discourage applicants withouttransportation from applying.Creating a job advertisement thatprovides more detail will minimize thetime and energy spent on applicants thatare not genuinely interested or trulyqualified for the position advertised.Watch your investment pay off as yourpool of quality applicants increase andyou can then continue to “grow yourbusiness” with new employees!Submitted by:2nd Chance Employment CounsellingFor more information or help to create ajob advertisement contact a 2nd ChanceJob Developer @ 519-823-2440 or 519-843-5513.MEMBER TESTIMONIAL“I am proud to be a member of the Centre Wellington Chamber of Commerce. Communityis important to me and I appreciate the values in this realm that the Chamber holds dear tothem. The CWCC is a breath of fresh air compared to other business associations. Thankyou for the support”Lynne Bard, President of Beyond Rewards Inc.6 | w w w . c w c h a m b e r . c a

THANK YOURENEWINGMEMBERSThe Achievement Centre – ExcelAlmost Anything WoodThe Bar Store Canada Inc.Big Brothers Big Sistersof Centre WellingtonC.S. MacGregor Ltd.Centre Wellington DentalCork Restaurant Inc.Cox Creek Cellars Inc.Elora BIAFergus PoolsFifth Avenue Collection JewelleryGrand River PhysiotherapyImpact Physiotherapy& PerformanceJunior AchievementGuelph-WellingtonLiberty Tax ServiceLog Cabin HeavenLoney & AssociatesLopers ElectricNorthern Lights CanadaThe Ostic Group – FergusPryde Truck Service Ltd.Reid's Heritage Homes Ltd.Sew Fancy Inc.Sew OriginalCustom Drapery & DesignShield SecuritySt. David Street DentistrySt. George Bed & BreakfastSterling Promotions Inc.Thistlebrae B&BTrue-Centre Muffler & BrakeThe Wellington AdvertiserWELCOME NEW MEMBERSEPIXElizabeth 'Pix' Martin, Owner1441 King Street, Box 541St. Jacobs N0B 2N0(519) 664-9956epixfashion@gmail.comPix Martin, Fibre Artist - One of a kind quilts offering creative handguided machine quilting and clothing alterations.JOSEPH GILBEYJoseph Gilbey, Author1 Gilbey Lane, R.R. #2Hillsburgh ON N0B 1Z0(519) 855-6126jogilbey@grafspee.comwww.grafspee.comAuthor and publisher of books.MICHAEL CRESSMAN SALONMichael Cressman, Owner23 Moir StreetElora N0B 1S0(519) 846-5735A personalized experience for your hair! Cuts, colours, updos,treatments, as well as a full selection of Matrix/Biolage andMorrocan Oil products. Ask about 100% human hair extensions.RICHARDSON GMPThere are varying levels of experience and expertise amongstInvestment Advisors. The best advisors offer a combination ofexperience and education. It is important to have the rightcredentials and to have the experience to know how to apply thatinformation to the benefit of investors. You may be able to gaugehow long an advisor has been in the industry by the credentialsthey carry. Phillips Fortress Solutions – Non-Negotiable Integrityoffers comprehensive wealth planning solutions and customizedportfolio design that we believe exceeds what you‟ll find anywhereelse.CONTACTMatthew Phillips, Portfolio Manager18 Macdonell Street, 1st FloorGuelph ON N1H 2Z3(519) 782-4171matthew.phillips@richardsongmp.comwww.phillipsfortress.caT h e F o c u s A u t u m n 2 0 1 1 | 7

WELCOME NEW MEMBERSCRAZY CAROLE’S FRESH BURGERCrazy Carole's is locally owned and operatedusing only the best local products to provide amemorable dining experience for you and yourfamily. Crazy Carole's offers a variety of unique,fresh, mouth-watering burgers that are sure tosatisfy. Whether you‟re looking for a classicburger, wanting to try something new, or evensomething a little crazy, we have the burger foryou.CONTACTDean Darrah, Owner6488 Wellington Road 7Elora ON N0B 1S0Phone 226-384-2799info@crazycaroles.comwww.crazycaroles.comDESJARDINS FINANCIAL SECURITIESINDEPENDENT NETWORK AND DFSINVESTMENTS INC.As a representative of DFSIN and DFSInvestments Inc., I can offer a wide range ofproducts and services that meet my clients‟expectations. My status as an independentrepresentative gives me access to the productsoffered by the major Canadian insurers and bymore than 100 mutual fund companies.CONTACTTrevor Wright, Investment Funds Advisor & Lifeand Health Insurance Advisor5457 Wellington Road 39-R.R.#5Guelph ON N1H 6J2(519) 265-5126trevor.wright@dfsin.cawww.dfsinvestmentinsurance.caKOOIMAN INDUSTRIES LTD.Products built using patented aluminumframework systems, combined with plasticaccessory channels, glass and wood panels andthe very best in hardware components. Finishedproducts have excellent "fit and finish" andsystems ensure long life, extreme durability andefficient production costs.CONTACTJerry Kooiman, President630 Glengarry Cres.-P.O. Box 39Fergus ON N1M 2W7(519) 787-9910jerry@kooiman.cawww.kooimanindustrieslimited.comMILL STREET BAKERY & BISTROWith a perfect view of the Grand River, the 28-seat Bistro serves tasty homemade goodness.French cuisine figures into the menu, with suchitems as coq au vin, beef bourguignon andcassoulet. There are other selections, like aMexican Shepherd's Pie and white chili withchicken. Catering for family reunions available inbeautiful park setting aside this historic building.CONTACTFran Weima, Owner15 Mill Street East,Elora ON N0B 1S0(226) 384-2277fweima@sympatico.ca8 | w w w . c w c h a m b e r . c a

MEMBER PROFILEUPTOWN CAFEMerv and Noreen Winter are what youcall “serial entrepreneurs”, and havebeen in the food business for theirentire adult life. They actually met asteenagers, at a food college inEngland. They both completed a HotelManagement course and worked inHotels in London before moving to aPub and B&B called the Brace ofPheasants in the heart of Dorset. Mervran the kitchen while Noreen servedthe food and helped her father behindthe bar. After moving to Canada theypurchased The Golden Beaver Restaurant, which was located on Highway 6 south of Fergus, inEnnotville, and successfully operated the restaurant for 6 years.Since then the Winters have operated a variety of small restaurants, including the Elora Bistro, theRiver‟s Edge Café in the Fergus Market as well as a Catering Business. After selling the CateringBusiness they were hoping to retire (at least Noreen was) but after 6 months of retirement theyrealized they had to go back to work so two years ago they bought the breakfast restaurantKringles, which had just moved across the street in downtown Elora. Merv and Noreen decided tochange the name of the restaurant and asked customers to give them some ideas. A local familysuggested the name Uptown Café!Popular menu items at the Uptown Café include a choice of homemade soups made with freshlocal ingredients, customized Panini sandwiches, Quiche, Salads, Meat Pies and Pasta. Noreenrecently added a British Afternoon Tea to the menu, with scones and other yummie food. As theWinters are sensitive to what their customers say they now also offer things like vegetarian andvegan options as well as gluten-free bread, wraps and desserts. “We adapt the menu to thedemand”, Merv says with a smile.The formula seems to work as they have many loyal customers, some of whom have followedMerv and Noreen whenever they started up a new adventure. “75% of our customers areregulars”, Noreen says.But a lot of their regulars just like to sit down early in the morning for “a coffee and a chat” enjoyingthe company of host Noreen and her staff. “Customers appreciate it when the owner is there”,Merv says. The flipside is of course, that the owners work long hours – especially since theUptown Café is open 7 days a week.Noreen and Merv do all the shopping themselves, buying local products as much as they can.They do have to go shopping a lot, though, as their small kitchen does not allow for a lot of storagespace. They managed to turn this challenge into a positive though - often combining the shoppingwith things like family visits.T h e F o c u s A u t u m n 2 0 1 1 | 9

“One of the biggest misconceptions about our industry is that many people think we make a lot ofmoney, or that it is easy. “Just serve a few people, and then have a chat and a drink…”, they think.But those people don‟t realize the long hours involved”, Merv says. “Not just in the restaurant, butalso the shopping, bookkeeping, training and management of staff - and all the other aspects ofrunning a business.”“And you have to do your home work. You have to know who your competition is, what your costsare and how much you can charge. It‟s not always possible to make a profit in the first year”, hecontinues.The main reason for Noreen and Merv to join the Centre Wellington Chamber of Commerce is theTD Merchant Services. They are also considering hosting a Business After Hours event.“Unfortunately, because we work early mornings, we cannot attend breakfasts.” Other communityinvolvements include volunteering for the Elora Festival, billeting an Elora Festival Singer,Sensational Elora, The Centre Wellington Rotary Club and the Elora BIA. They also promote manylocal events, or join them as a sponsor.The Uptown Café is located downtown Elora at 140 Metcalfe Street. You can contact Merv andNoreen Winter at 519-846-0553 or visit their website www.elorauptowncafe.com.HOW MUCH HOMEOWNER’SINSURANCE DO I NEED?Every day people ask themselves, “How much homeowner‟s insurance do I need?” The answervaries, depending on each person‟s situation. Usually you should insure your home for its wholevalue, the actual building and all of its contents.In order to find out exactly how much your home is worth, you can have a builder or insuranceagent give you an estimate on its value. However, if you ever remodel or add on to your home, itsvalue will increase, and you will then need to purchasemore coverage.For any valuable possessions you have, you can purchaseextended coverage, to ensure those items are covered aswell. The best thing to do is take a room-by-room inventoryof your valuables then keep this list somewhere outsidethe home, for example, a safe-deposit box.To determine if valuable possessions, such as TVs,stereos or computers are covered, or if you have any otherquestions about homeowner‟s insurance, contact yourlocal insurance agent.Article submitted by Steve Lund, State Farm®Agent10 | w w w . c w c h a m b e r . c a

CHAMBER EVENTST h e F o c u s A u t u m n 2 0 1 1 | 11

7 WAYS TO GIVE YOUR BUSINESS APROFESSIONAL LOOKEvery business – large and small – needs to worry about their image. Sometimes we forget to take alook at ourselves from “the outside”. There are seven simple things you can do to give yourself aprofessional look.1) Get a logo… and use it – properly. This might seem almost redundant to mention, but this is a petpeeve of mine. Every business or organization needs a logo – that is the easiest way for a potentialcustomer to recognize you. The next step is to use it. Every time your business is mentioned, use yourlogo – in ads, on vehicles, on clothing – everywhere! The most important step is to make sure the logolooks right. There is a reason that large corporations spend a lot of time creating guidelines on howtheir logo is to be used. When you see a logo that is stretched out of proportion or all blurry, you noticeit... but for the wrong reason. You have a nice logo… make sure it is reproduced in a nice way.2) Get a web presence. Now, this can be a simple one-page informational website, or a complex e-commerce site, but you should have your own domain name. The main point here is to get a domainname that is uniquely yours. Then, make sure people know about it. Make sure your website address isprinted wherever your name and logo are.3) Use the email at your domain name. You should not use a free email account as your businessemail. There are many reasons, but the main point here is that it looks more professional to use theemail at your domain name. You already own the domain… why not use it for your email as well. Manycompanies still offer webmail access to your account, so it is just as convenient as Hotmail or Gmail.4) Now that you have a logo, and a great domain name and email address… why not put that logo inthe signature of your email. You will just further reinforce your brand, by reminding them of your logoevery time they get an email from you. Also take that opportunity to mention your website.5) Subscribe to a “call answer service”. Nothing bugs me more than a busy signal – except maybe noanswer at all. Most telephone companies offer an answering service. I think that is better than ananswering machine because it can take a message while you are on the phone. At the very least, youcan inform the caller that their call is important and that you will contact them as soon as you can.6) Invest in a colour laser printer. The prices of colour laser printers are dropping so fast, that soon theywill be the same price as a black & white laser printer. You have a nice logo, and probably some nicephotos… why print them all in black & white? There is a reason that everything a large corporationproduces is done in colour… because colour sells. Why not print everything in colour, such as yourbrochures, flyers, quotations, and even your invoices.7) Use social media. If you have time, you can use servicessuch as Facebook, Twitter, and LinkedIn to spread the wordand keep track of what people are saying about you. This cantake a considerable amount of time, so don‟t take this initiativelightly. Large corporations have full-time employees that onlykeep track of the company‟s social media sites. Nothingscreams “unprofessional” than a Facebook page that has notbeen updated in over a year.In a nutshell, you know your stuff… but you should look like youknow your stuff.Article written by Jeremy Woods of ICS Computers12 | w w w . c w c h a m b e r . c a

ONTARIO CHAMBEROF COMMERCEFiscal Policy Will Be Important Post-ElectionPosted on October 4, 2011Well before the risk of a second economic contractionstarted to become widely reported in the media,Ontario businesses advised the provincialgovernment not to lose sight of the province‟s fiscalfundamentals as the pace of the economy picked up.The private sector continued to place emphasis onfiscal responsibility as a top priority in the OntarioChamber of Commerce‟s (OCC) recent 2011 Pre-Election Business Survey.With external factors such as the Eurozone debtcrisis and political impasse over the fate of the U.S.economy creating ripples throughout the globaleconomy, it has never been more important forOntario‟s political leaders to adopt sound fiscalpolicies to foster Ontario‟s economic resilience.Ontario‟s business community has identified threeoverriding initiatives that will allow the Ontariogovernment to keep the province‟s finances on track:Reduce spending and focus on priority areasMaintain broader public sector wage freezeReign in municipal government spendingThese recommendations build on the OCC‟s adviceto government in the run up to the 2011 budget –namely, expedite deficit reduction, with a new targetdate of 2015-16, and ensure the conditions for rapidgrowth in emerging sectors.The Ontario Chamber of Commerce looks forward toworking with Ontario‟s next government to bring thisvision to reality. Information on Ontario‟s 40th electionand the priorities of the Chamber Network can befound on the Ontario Chamber of Commerce website.This entry was posted in Blog. Bookmark thepermalink.BUSINESS NEWSCANADIAN CHAMBEROF COMMERCETime for Parliament to Act on CopyrightPublished: 09/29/2011 - News Releases and VideosOttawa, September 29 - The Canadian Chamber ofCommerce is pleased that the government has actedquickly to re-introduce copyright legislation in theHouse of Commons. Many companies, big and small,rely on the protection of intellectual property (IP)rights to maintain their businesses in Canada.Updated copyright legislation will bring Canada morein line with other leading nations and establishguidelines for those who download and file share inthe Internet. Properly applied, intellectual propertyrights drive job creation, economic growth andinnovation.“IP is the economic currency of the future. By definingand better protecting IP rights, we will continue todevelop a marketplace that rewards investments ininnovation and creation. This bill will help foster newbusiness models that will lead to stronger economicgrowth in Canada” stated Perrin Beatty, Presidentand CEO of the Canadian Chamber of Commerce.read full storyPLACE YOUR BUSINESSADVERTISEMENT HEREContact the CW Chamber at 519-843-5140for rates and information.T h e F o c u s A u t u m n 2 0 1 1 | 13

RISK MANAGEMENTDuring the daily operation of a company, whether large or small, exposure to accidental losses is a fact oflife. Such exposures can cause anything from minor glitches that hinder the ability to achieve short-termgoals to major events that threaten the very existence of the entire company.When major accidents occur, a company can be faced with loss of life or injuries to key employees, propertydamage, huge liabilities and significant loss of income. This is why prudent companies engage in riskmanagement.What exactly is risk management?Everyone actually practices risk management regularly whether they know it or not. For example, if youdecide not to take up motorcycling because you are afraid of being injured, you are practicing „avoidance‟ –a basic risk management technique. If you do decide to ride a motorcycle, but only with a helmet, you arepracticing „loss reduction‟.Risk management is a methodology that helps organizations make the best use of their available resourcesto logically and systematically identify, analyze, treat, and monitor the risks involved in any activity orprocess. Below are the steps in the risk management process as applied to a business:Step No. 1 - Identify and analyze loss exposuresIdentifying exposures to potential losses involves developing a complete list of loss exposures for yourorganization. Professional risk managers begin with a physical inspection, and then use tools such assurveys, questionnaires and business flowcharts to identify potential loss exposures or business bottlenecks.Analyzing your loss exposures requires estimating how large (severity) the potential losses you identifiedcould be (in terms of size and dollars) and how often (frequency) they might occur.Step No. 2 - Examine various techniques for addressing your exposuresOnce potential loss exposures have been identified and analyzed, professional risk managers evaluateindustry-accepted techniques for treating these exposures. These techniques include two categories: riskcontrol to stop loss and risk financing to pay for losses.Risk controlRisk control techniques are strategies designed to reduce the frequency or severity of a loss and possiblymake accidental losses more predictable. The techniques are as follows:1. Avoidance – if you avoid certain activities, you eliminate exposure to potential losses. However, in thereal world, total risk avoidance is rarely practical.2. Loss prevention - comprises techniques that are implemented with the intent to reduce the „probability‟or „frequency‟ with which certain losses might occur. An example would be the implementation of speedrestrictions in school zones.3. Loss reduction – actions intended to reduce the severity of a loss. A commonly used technique would beto install sprinklers to reduce the financial consequences should a fire break out.4. Segregation of loss exposures (separation or duplication) – this technique involves separating ordispersing activities over several locations. This might include having delivery vehicles take severaldifferent routes to reduce the possibilities of delays. It also might involve duplication of equipment oractivities. It could be as simple as having a backup generator or as complex as having an alternatefacility to process from if problems should arise.5. Contractual risk transfer for risk control – occurs when one business obtains a contractual promise fromanother entity to pay for any losses that might occur. This technique transfers both the legal andfinancial responsibility of a loss to the other entity. Leasing property and contracting out hazardousactivities are examples of this.14 | w w w . c w c h a m b e r . c a

Risk financingRisk financing involves strategies to pay for losses that cannot be entirely prevented by risk control. Suchstrategies can be broken down into two groups, retention and transfer.1. Retention – a decision is made to retain exposure to losses and pay for them by such methods ascurrent expenses, funded or non-funded reserves or by borrowing funds.2. Transfer – this method involves the transfer of responsibility of paying for losses to another throughvarious methods such as:Contractual transfer for risk financing – the transfer of financial responsibility of losses (but notthe legal responsibility) by written agreement to another party (often known as a „hold harmless‟or „indemnity‟ agreement).Commercial insurance - a contract (policy) that provides financial protection or reimbursementagainst losses. Commercial insurance policies can be written against many exposures includingdamage to property and loss of Business Income.Step No. 3 - Select the appropriate techniques (or combination)As avoidance isn‟t always practical and insurance costs money, professional risk managers often apply acombination of the above techniques to address potential loss exposures. For example, businesses canoften obtain discounts on insurance for instituting a mandatory risk control program.Step No. 4 - Implement a ‘risk management program’Once risk management techniques have been evaluated and selected, they must be implemented as a riskmanagement program. The important considerations are:1. What needs to be done? What are the details of the program?2. Who needs to be responsible? Accountability for implementing the techniques needs to be assigned toparticular persons.3. Communicate the program. Employees involved need to understand the exposures and how the programaddresses them.4. Allocate costs of the program – Often specific costs associated with a program (e.g., safety equipment)need to be spread over affected departments or business units and budgeted for accordingly.Step No. 5 - Monitor the program and modify as neededOnce implemented, monitoring a risk management program is an ongoing activity. Routine observation ofthe effectiveness of the program is imperative to determine whether progress is being made in addressingthe exposures. Measurements may show that further modifications are necessary to the program. Moretraining or safety measures may be required to reduce losses (both in frequency and severity).In today‟s highly competitive environment, the slightest oversight in business can have severeconsequences. Accordingly, all businesses, regardless of size, should have a risk management program andreview it on a regular basisArticle submitted by Garth Green of HJM Insurance & Financial Services Ltd.T h e F o c u s A u t u m n 2 0 1 1 | 15

MEMBER DISCOUNTSTD Merchant ServicesLow rates on Visa 1.59% | MasterCard 1.64%Interac Direct Payments $0.069 per transaction.Contact Carolyn Fox at 519-787-7645, carolyn.fox@td.comGroup InsuranceFor Extended Health Care, Group Term Life Insurance, Critical Illness,Best Doctors access, Dental Care, Disability Coverage and/or Accidental Death& Dismemberment coverage – this plan is for you!Contact Barney Tracy at 519-820-1283, btracy@groupbenefits.on.caEsso Business Card Programcost saving program of 3.5 cents per litre of fuel.Click here to apply: http://www.essofleetoffers.com/CHAMBERGrand & ToySave up to 80% on over 7500 quality office products.Contact Grand and Toy at 519-746-3500 ext 0Ostic InsuranceMember to Member discounting for Home and Auto Insurance for qualifyingChamber Members, Employees and Retirees.Contact Tom Waind, twaind@theosticgroup.com or www.theosticgroup.comBell MobilityChoose from two different Chamber Plan options, Blackberry & PDA Datapricing available, as well as Mobile Internet Stick Plans. Please view flyer for more details.Contact Dennis Dinesh at dennis.dinesh@bell.ca, 1-888-282-4499 x 5322.16 | w w w . c w c h a m b e r . c aMEMBER TO MEMBER PROGRAMOne of the things the Chamber encourages is members doing business with fellow Chambermembers - Introduce your products and services to over 360 companies who are fellow CentreWellington Chamber members! Here is a great way to take advantage of this opportunity:Participating businesses provide discounts or other benefits for their products and/or services. Forexample, some businesses may choose to provide a 10% discount, a one year warranty withpurchase, a $10 gift card with purchase of $100, etc. These are special offers that are availableonly to Centre Wellington Chamber members in good standing.Interested in participating in our Member-to-Member program? Contact us at the Chamber formore information on how to get started. We look forward to hearing from you!Please note: the M2M Discount is separate from the national and provincial discount programsalso offered as a benefit of Chamber membership. Offers are only effective at those businesseslisted, if you are a Centre Wellington Chamber Member.

USING BUSINESS ASSETS TO SUPPORTRETIREMENT INCOMEAs business owners become more and more successful, they look for ways to put surplusaccumulated cash to better use in a tax effective way. Ideally, most business owners would likemore personal benefit without being subjected to the top personal tax rate.An Individual Pension Plan is one opportunity to invest corporate dollars that ultimately pay out tothe business owner in their retirement. The company contributions to the IPP are tax deductible tothe company and not taxable to the beneficiary (company owner) until they start drawing thepension.Another way to put surplus corporate cash to work is through corporately owned life insurance. Formany business owners, life insurance is one of those costs that doesn‟t generate income but isnecessary to protect your family and your business. If you only look at it this way, you‟ll hope younever receive the benefits of the product.But there is a way to add to the protection of a life insurance policy and create an investment assetthat contributes to your retirement income plan.Safe conservative low-risk investments like Guaranteed Investment Certificates (GICs) allow thesurplus cash to grow but they are taxed at the top corporate rate of almost 50%. A wiseralternative may be for the business to deposit the accumulated surplus cash for investment withina corporately owned life insurance policy.Over time, the accumulated value of the surplus cash and its tax deferred growth within the lifeinsurance policy can be used as collateral for a tax free bank loan to the company. The bank loanis then used to provide tax friendly retirement income to the business owner.At the same time the death benefit of the policy increases with the growth of the investments. Thehigher policy value provides a tax-free death benefit to the corporation at the business owner‟sdeath. The bank loan is then paid off and the balance of the proceeds paid out to the heirs usingcapital dividends and virtually free of tax.Both of these retirement income strategiesare very tax effective and require a certainlevel of expertise. For more information,please contact a qualified financialadvisor.Dan Allen is a Certified Financial Planner,recently achieving the Master FinancialAdvisor designation specializing inretirement income planning. He can bereached at 519-843-2630 ordan@danallenfinancial.com.T h e F o c u s A u t u m n 2 0 1 1 | 17

Contact UsCentre Wellington Chamber of Commerce400 Tower Street SouthFergus, OntarioCANADA N1M 2P7Phone: (519) 843-5140Fax: (519) 787-0983e-mail: chamber@cwchamber.cawebsite: www.cwchamber.caGeneral Manager:Roberta Scarrowemail: rscarrow@cwchamber.caMembership & AdministrationHeather Andrewsemail: membership@cwchamber.ca18 | w w w . c w c h a m b e r . c a