mee Serene econ eae D0 TT oa AN oe Are Fagin ME TET

“Terrace Review — Wednesday, October 28, 1987 13 wo ;

“Northern Accents

gets recognition =

TERRACE — Northern Accents
Gift and Gallery at 4607 Lakelse

Ave. in Terrace received the

Federal Business Development
Bank CASE award for excel-
lence in business management
last week. _
Northern Accents began busi-
ness in October 1981 and used
the FBDB’s CASE (Counselling

Assistance to Small Enterprise)

service from the start. Pro-
prietors Kathleen Ireland and
Lovina’ Tyler said the. service
helped in planning, design and
layout for the store and financial

forecasting and budgeting... -
When the operation moved to its
present location in August 1984,’ .
the two used the service ‘again .
because they were impressed
with the manner in which CASE
had helped them get started,

In presenting the award Ter-
race FBDB manager. Phil Hartl
noted that Northern Accents is"

-not only successful by any man-'

agement standard but also began
operations during a period when
many other established busines-
ses were failing,

| City supports pool —

expansion project

- Attendance and revenue will

1. rise while operating costs drop if

Business Development Bank’s CASE

Business Week activities, and local FBDB manager P

Kathleen ireland and Lovina Tyler of Terrace’s Northern Ac

cents Gift and Gallery Ltd. recently received the Federat
business management award. The award was presented as part of Small

: . hil Harti said the Northarn Accents operation, located at 4607
. Lakelse Ave., is “a good example of today’s small business owners who plan the start of their business very carefully .

and utilize the resources available to small business”. _—.

An overview

~ - by S. Sarpkaya

‘Mr. ‘Sarpkaya is an author,
academic, business executive,
and consultant, Educated at the
Sorbonne and the University of
London, he was principal econ-
omist for the Canadian Banker’s
Association or some 20 years
and is currently a professor at
the University of Toronto. He is
the author of numerous books, a
general editor for CCH Cana-
dian Limited, a prolific writer
and commentator on financial
and business subjects, and a.
consultant on banking and_in-
vesiment. So

I have observed the Federal
Business Development Bank and
its predecessor, the Industrial ©
Development Bank, during three

@ecades, 7

The institution we now know
as the Federal Business Develop-
ment Bank began as the Indus-
trial Development Bank, a sub-
sidiary of the Bank of Canada,
in 1944, At the height of the Se-
cond World War the IDB con-
cept was distinctly imaginative
and forward-looking: to spur
the development of Canadian
business —' essentially small

. business — in the postwar era,

to. ease the transition. from a_

wartime economy, and to pro-

vide jobs to returning soldiers.
IDB was designed to provide’

term financing for firms which

could not obtain funds on ‘rea-

sonable conditions’ from other.
lenders. Amost entirely, in those
days, other lenders meant chart-.
ered banks, firmly set in their
mode of operations and unable
to take appropriate security for
such financing. -
IDB was to be entirely self-—

financing; there was to be no
drain on the taxpayer. That was
a firm ground rule and it was to
be. followed firmly every year
from °44 right up to the reces-
sion of the 1980's. |

‘In the early postwar period
the- IDB idea was brand new and
the experiment was watched

closely by other lenders. The

-IDB: pattern’ was to be widely

emulated in other countries in
due course. .

The initial 1944 mandate was
limited to ‘industrial enterprises
... in which the manufacture,
processing or refrigeration of
goods, wares and merchandise
or the building, alteration or
repair of ships or vessels or the
generating or distributing of
electricity is carried on’. |

In 1952 commercial air ser-:
vices were added. (Many well
known regional airlines obtained
their original financing from
IDB). Other sectors became
eligible soon afterwards and by
1961 IDB facilities had been,
Opened up to practically every
kind of small business,

There was considerable
growth in the Bank — as the
postwar economy boomed, IDB
grew too. From initial branches
in Montreal, Toronto, and Van-

couver, in 1945 and Winnipeg in’.
1946, the structure grew along:

with demand. Today there are

88 branches in the ten provinces .
Northwest.

and Yellowknife,
Territories.

As it grew in size and ex-
perience in the 50’s and 60’s,.
IDB was in a unique position to
develop original techniques to
evaluate and supply term loans
to business. This expertise was
valuable not only to IDB’s own
customers but to other lenders as

well. IDB proved it could be.

done — that term lending to
small, new enterprises was viable
and of major social significance.

The early 70’s saw the start of
a whole range of activities to
support the small business sector
beyond actual financing — now
known collectively as ““Manage-
ment Services’’,

Reprinted from Canadian Financial
Institutions, October, 1985.

residents say ‘‘yes’’ to the Nov.

21 referendum question and

allow. the city. to borrow up-to

$350,000 for pool renovations,

according to the city’s Parks and

Recreation Department.
_ ” During the municipal election
on Saturday, Nov. 21, the city

will hold a referendum asking
taxpayers permission to borrow
the money for an_ estimated

- $500,000. project, $162,900 of

which has already been obtained
from the provincial government

through an Expo Legacy grant,

According to the Recreation
Department, the project would

include a 10-meter | wading/.
teaching pool, a swirlpool; new

sauna facilities, a steam bath
and an expanded exercise area as
well as renovations to improve
the life of the building and save
energy.

They said the project would -

allow more patrons to use the
facility in more ways. ‘‘Learn-
to-swim programs will be avail-
able to very young children,
while the swirlpoot will be a

“sThe-passengers ano cr
~ of he'Nofthbrae —
- Ship O Foci

definite attraction to adults.”

In a news release, the Parks .
and Recreation Department said
they expect. a 25 percent increase

_in attendance and ‘revenue, and

that, “‘Swimming pools through-
out the province have experi- .
enced as much as $0 percent in-
creased attendance after similar:
expansions.”" Dos ot
They added that while ex- -
periencing this new increase in
revenue, operating costs could |
be expected to drop because the
existing building is uninsulated
and there is currently a. ‘‘tre-
mendous heat loss”.
“The renovation plan calls for
insulation of the roof: areas, a
measure that will lead to savings
of séveral thousand dollars per
year,”’ the release stated, and,
“The improvements will also
slow the effects of deterioration
caused by high humidity.” ;
According to the Recreation
Department, the entire roof of
the pool will require replacement.’
within a few years if the prob-
lems leading to the deterioration
of the roof aren’t corrected
soon, | _

&

"HEAVENS TO BETSY

A musical comedy

TERRACE LITTLE THEATRE, sogusments TERRACE COMMUNITY BAND we
THEATRE ALIVE, . |

THREE PERFORMANCES on the stage of the R.EM, LEE THEATRE: Friday, November 19 at 8 pm.
~ Saturday, November {4 al pm, MATINEE: Saturday, November 14at2pm, -

ADULTS $6 SENIORS $5. CHILDAEN $5

TICKETS AVAILABLE AT SIGHT & SOUND