CPSA News - Canadian Professional Sales Association (CPSA)

The use of gadgets such as smartphones and other handheld devices may make employees more productive, but they haven't made the workplace more polite.

More than four in 10 (42 per cent) chief information officers (CIOs) interviewed have seen increased instances of poor workplace etiquette resulting from more frequent use of mobile electronic devices.

Five types of tech-etiquette offenders were identified. Here are some tips to ensure that you don't fall into one of these categories:

1.  The Misguided Multi-tasker. This person thinks that e-mailing or
texting during a meeting or conversation demonstrates efficiency. But
others may regard it as a sign he prizes his BlackBerry more than the
company he keeps. Unless you want to create potential animosity at
work, use your handheld device only in an urgent situation and step
out of the room to reply.

2. The E-mail Addict. If you've ever played e-mail tag with a colleague, you've likely encountered this person. She relies on a constant
stream of e-mails, instant messages or texts to communicate all of
her needs, often thinking it will save time. But excessive messaging,
particularly regarding trivial things, can be inefficient and
disruptive. Often a phone call or in-person discussion can resolve
issues more quickly.

3. The Broadcaster. This person has no shame when it comes to his cell phone, using it anytime, anywhere - including open office halls and   the
public restroom - to discuss anything. When using your cell phone in
common areas, it's not only disrespectful but also potentially
off-putting to others. Keep private conversations limited to private
places.

4. The Cyborg. Rare is the chance you see this person without the
blinking glow of a Bluetooth headset or iPod earbud nestled in her
ear. Keeping a wireless earpiece or headphones constantly plugged in
signals to others who may need to speak to you that your attention is
not available. Show that you are accessible to your colleagues by
  using earpieces in the office with discretion and consideration for
those around you.

5. The Distractor. This person may have good intentions in setting his
phone to vibrate rather than torturing colleagues with a cheesy
ringtone, but hearing it repeatedly buzz loudly on a desktop or
during a meeting can be just as distracting. A better solution: Set
your phone to silent or keep it in your pocket.

Olympics Increase National Pride

The Vancouver 2010 Games appear to have brought Canadians closer together. Eighty per cent of Canadians now 'agree' that they are a 'Canadian nationalist', up eight points from an identical poll taken a year before the end of the Olympics.

Moreover, a majority (63%) of Quebecers now agree that they are a Canadian nationalist, an increase of 15 points from last year. The poll also found that Canadians' pride in their abilities has increased on many fronts. The shift is most notable in the province of Quebec:

Canadians Trust Pharmacists and Doctors the Most

Also among the top five professions whose honesty and ethics were rated as "high" or "very high", were high school teachers at 66 per cent, police officers at 58 per cent, and clergy at 50 per cent.

The poll asked respondents: Please tell me how you would rate the honesty and ethics of people in the following professions and would you rate their honesty and ethics as very high, high, average, low or very low? The professions ranged from health professionals to business executives; lawyers; provincial legislators; public servants; car salespeople, and others.

Travel Savings Tips

Before heading off on vacation you can avoid being surprised by the unplanned costs of travel by using some of the following tips:

Create a budget. The big ticket items, like flights, are easy to calculate. It's the little costs that often get overlooked. A recent poll showed that 43 per cent of respondents purchase new items to entertain themselves or their family while in transit, 26% park at the airport and 14% pay for the loss-damage waiver when they rent a car.

Additionally, one of the costs that people sometimes fail to take into account when pricing a trip is the tax. A travel package might be featured at $600 but taxes can often add hundreds of dollars on top of the listed price.

Know how much to tip. Tipping 15-20% might be the norm in Canada, but that is not always the case in other countries. For example, in many European countries, restaurants automatically add a service charge of 10-15% to the bill, which means there is no expectation of additional gratuities.

To save yourself from accidentally over-tipping, research the country you are visiting to see what their guidelines are regarding gratuities. Most travel books and local tourism web sites provide this information.

Forty-three percent of Canadians with travel rewards cards have used or redeemed travel rewards in the past year with 80% of those redemptions being used for airfare. However, 62% of survey respondents say their rewards card does not allow them to pay for taxes or surcharges with rewards points and a further 20% are unsure what costs their card covers.

Survey respondents say that trip cancellation insurance (56%), travel medical insurance (48%), car rental insurance (46%) and lost or delayed baggage insurance (44%) are the most important features of a credit card when travelling. Booking your travel on your credit card gives you access to your card's benefits while travelling -- before you go, check that your credit card has all of the features you need so that you have peace of mind knowing that you are automatically covered, from rental damages to lost bags, without incurring additional costs.

Few Drivers Prepared After an Accident

Survey results released today show that only 45 per cent of Canadian drivers feel that they are very prepared to immediately take the proper steps required after a car accident.

Anti-Fraud Prevention Tips

March is Fraud Prevention Month. Here are a few credit card and debit card fraud prevention tips:

Guard your cards

-   Always know the location of your credit cards. Keep them in a safe
place if unattended.

-   Don't lend your cards to anyone.

-   When making a purchase, keep your card in view.

-   Don't forget to take your card after using it at an ABM or to pay for
a purchase.

-   Carry with you only the cards you need.

-   Never provide your credit card number over the phone unless you are the one who initiated the call.

Check your records, statements and activities

-   Check your account statements as soon as they are available to ensure all transactions and charges are correct. Look for extra or missing
transactions and report any discrepancies immediately. Using an
online banking service allows you to check your transactions throughout the month.

Report missing cards immediately

-   If your card is lost, stolen or is retained by an ABM, notify your
financial institution immediately.


Debit card fraud prevention tips:

-   Select a PIN that's easy for you to remember but difficult for others
to guess. Always avoid the obvious - your telephone number, date of
birth, etc.

-   Memorize your PIN. Do not let anyone else know or use your PIN   and avoid writing it down.

-   Always enter your PIN yourself.

-   Never give out your PIN over the phone, Internet or mail. No one but
you knows your PIN - not even your financial institution.

-   Complete transactions only when and where you feel secure.

-   When conducting transactions at an ABM or making a debit purchase, use your hand or body to shield the keypad when you enter your PIN.

-   When a transaction is complete, put your card back in your wallet and
take your transaction record.

-   Shred or otherwise destroy your transaction records when you no
longer need them.

Finance Will Play Role in Sales Compensation Management

A research report titled “Managing Sales Incentive Compensation Amid Uncertainty,” reveals that companies are under pressure to encourage sophisticated sales behaviour through complex sales incentive compensation plans, but that finance executives are also concerned with the cost, uncertainty, and difficulty of administering those plans.

- 61 per cent of survey respondents say “more sophisticated selling behaviours” rank among the sales improvements most likely to help their companies reach their goals in the next two years.

-- 75% of respondents currently using technology focused on incentive compensation management said that these solutions have made a positive contribution to sales incentive compensation management across their organizations.

-- Many of the respondents cite finance’s analytical skills as a “very compelling” reason for finance to become more involved with sales incentive compensation management (64%), followed by reporting ability (47%) and compliance requirements (40%). Respondents are much less likely to point to finance’s administrative skills as a very compelling reason for greater finance involvement.

Tips for New Home Buyers

With spring just around the corner, you may be thinking that it’s time to start looking for a new home. If you’re a first time home buyer, there’s a number of insurance items you’ll need to know before you start shopping.

1. Insurance for first-time home buyers can be expensive. Give us a call prior to the closing date to avoid unexpected expenses. A tip for saving money? Use the same insurance provider as your auto policy. The combination of home and auto will best manage insurance costs!

2. When arranging for your policy, be prepared with all the details of the home - square footage, renovations and updates, and the type of plumbing, heating, and electrical - so that the most accurate estimate can be achieved on the value of the home. This is your home. Protect it!

3. If you have purchased a condominium, make sure you have all the details around all improvements and betterments made to the unit. Both ones you have made yourself and any made by prior owners.

4. Take an inventory of your personal belongings in your home. The cost to replace all of your belongings is more than you may imagine! Once you’ve taken inventory, keep the document or file in a safe place or submit it to your insurance broker for your file.

To get your own convenient copy of an inventory tool – PS Count Me – which you can use in excel or on paper, simply go to www.pottruffsmith.com/pscountme

5. Review your property insurance policy and become familiar with the limits of coverage and common exclusions. Call us with any questions you may have. We are here to help.

Buying a home, particularly your first one, is something very special. Pottruff & Smith will make the process easy by providing all protection you need. Let us protect your dreams.

Federal Budget Highlights for Business

Finance Minister Jim Flaherty's federal budget tabled forecasts a deficit of $53.8 billion for 2010, falling to $49.2 billion in 2011 and to $27.6 billion in 2012.

Among other tax changes, the budget tightens the rules for employee stock option benefits, curtails the use of losses on conversions of income trusts, and relaxes the disbursement quota rules for registered charities. The budget also presents a federal information reporting regime regarding "aggressive tax planning" for public consultation.

Business and personal tax changes of the 2010 federal budget are discussed below.

In light of the tax on income trust distributions introduced in 2006, the tax rules allow income trusts, partnerships and other specified investment flow-throughs (SIFT) to convert to corporate form on a tax-free basis. The budget takes aim at what the government considers to be inappropriate use of the SIFT conversion rules to achieve inappropriate loss trading.

Current rules restrict the ability of a corporation to utilize tax losses where control of the corporation is acquired. These rules deem an acquisition of control to occur where shares of a public corporation are exchanged for another corporation. The budget proposes to extend these rules to situations where units of a SIFT trust or SIFT partnership are exchanged for shares of a corporation.

The acquisition of control rules are also amended to ensure they do not apply where the SIFT trust is wound up and distributes the shares of a corporation it holds. Under this change, where a SIFT trust, the sole beneficiary of which is a corporation, owns shares of another corporation, the wind-up of the trust does not trigger an acquisition of control of the other corporation and restrict the later use of that corporation's losses.

These rules apply to transactions undertaken on or after 4:00 pm (EST) on March 4, 2010 (except for transactions that parties are obligated to complete under a written agreement entered before that date).

Accelerated CCA for heat recovery equipment
The budget proposes to expand the assets eligible for accelerated capital cost allowance (CCA) in Class 43.2 (50-percent on a declining balance basis). For assets acquired on or after March 4, 2010, Class 43.2 includes heat recovery equipment used in a broader range of applications. Such equipment recovers thermal waste for re-use in order to conserve energy or reduce energy requirements. Class 43.2 treatment is expanded by removing the restriction that required the recovered heat to be removed in a process of the same type that generated it.

The budget also broadens Class 43.1 (30%) and Class 43.2 to include specified thermal energy distribution equipment that is part of a district energy system used by the taxpayer to provide district heating or cooling through the use specified renewable energy technologies. This measure applies to eligible assets acquired on or after March 4, 2010 that have not been previously used or acquired for use.

The tax rules allow certain "principal-business corporations", whose principal business is the generation of clean energy, to transfer their deductions for "Canadian Renewable and Conservation Expenses" to the corporation's flow-through share investors. The budget amends the definition of "principal-business corporation" to clarify that flow-through share eligibility extends to corporations in the principal business of producing fuel, generating energy, or distributing energy. These measures have effect for taxation years ending after 2004.

Satellite set-top boxes for decoding digital television signals and cable set-top boxes acquired after March 4, 2010 are now eligible for a declining balance CCA rate of 40 percent.

The budget proposes to allow for the establishment of federal credit unions. As a result, the tax rules will be amended so that federal credit unions are subject to the same income tax rules as other credit unions.

The budget extends the leasing property rules to otherwise exempt property that is the subject of a lease to a government or other tax-exempt entity, or to a non-resident, unless the total value of the leased property is less than $1 million. An anti-avoidance rule prevents property from being dividing among separate leases in order to meet the $1 million exception. This measure applies to leases entered into after 4:00 p.m. (EST) on March 4, 2010.

The budget announces that the government will explore new rules for the taxation of corporate groups, including a formal loss transfer system or consolidated reporting.

Employee stock options

Elimination of tax deferral election
Currently, employees of publicly-traded companies can elect to defer tax on up to $100,000 of employee stock option benefits vesting in a particular year. The budget repeals this tax deferral election for employee stock options exercised after 4:00 p.m. (EST) on March 4, 2010.

The budget also clarifies that employers are required to withhold and remit an amount in respect of the tax on the employment benefit associated with the issuance of a security. This measure does not apply to options granted before 2011 under a written agreement entered before 4:00 p.m. (EST) on March 4, 2010 where the agreement included restrictions on the optioned securities' disposition.

The elimination of the deferral may cause difficulty for employees where the value of the optioned securities is less than the deferred tax liability on the underlying stock benefit. The budget proposes a special election to ensure that the tax liability on the deferred stock option benefit does not exceed the proceeds from the shares' disposition, taking into account tax relief from the use of capital losses on the shares against capital gains from other sources.

As of 4:00 p.m. (EST) on March 4, 2010, the employee stock option deduction of one-half of the employment benefit (available in certain conditions) can only be claimed where the employee exercises his or her options by acquiring securities from their employer. Previously, where employees disposed of their stock option rights for cash, the employment benefit could be eligible for the stock option deduction while the cash payment was fully deductible to the employer. Employers may continue to allow employees to cash out their stock option rights and claim the deduction, provided the employer makes an election to forgo the deduction for the cash payment.

The employee stock option rules are also changed to clarify that a disposition of rights under a stock option agreement to a non-arm's length person results in an employment benefit at the time of the disposition (including cash-out).

The budget extends the mineral exploration tax credit for flow-through share investors, which was set to expire at the end of March 2010. The credit will continue to be available for flow-through share agreements entered into on or before March 31, 2011.

After March 4, 2010, expenses incurred for purely cosmetic medical procedures that are aimed solely at improving one's appearance, such as liposuction, hair replacement and teeth whitening, are no longer eligible for the medical expense credit. The budget also clarifies that GST/HST applies to supplies of such procedures and related goods made after March 4, 2010 and to earlier supplies where the supplier collected and remitted GST/HST in respect of the supply.

Tax-assisted Registered Disability Savings Plans (RDSP) are enhanced by the following measures:

- A deceased individual's RRSP funds can be transferred tax-free to the RDSP of a financially infirm child or grandchild, effective for deaths occurring on or after March 4, 2010, subject to the beneficiary's lifetime contribution limit of $200,000.

- Starting in 2011, a 10-year carryforward is introduced for unused
entitlements to Canada Disability Savings Grants and Canada Disability Savings Bonds.

Additionally, the budget clarifies that provincial payments into RDSPs and Registered Education Savings Plans made after 2006 will be treated the same way as federal grants and bonds so that the provincial payments will not affect federal payment amounts.

The budget proposes to reinstate the 50-percent inclusion rate for U.S. Social Security benefits for Canadian residents who have been in receipt of such benefits since before 1996 and for their spouses and common-law partners who are entitled to receive pension benefits. This change addresses changes to the Canada-U.S. tax treaty that increased the inclusion rate to 85%, as of January 1, 2006 and applies to such benefits received in 2010 or later.

The budget includes several measures to clarify and tighten eligibility for the tax exemption for post-secondary scholarships, fellowships and bursaries.

March Break Vacation Passe?

Taking a March Break vacation is a thing of the past for many Canadian parents who are showing more concern about time, money and stress in 2010 than in past years.

According to the respondents of the third annual AIR MILES(R) Reward Program March Break survey, 79 per cent of parents admit they are not planning to take any time off at all this March Break. Of those respondents, 52 per cent say they are foregoing a mid-winter vacation for a holiday later this year, and one in three confess they just can't afford it.

Plastic Replacing Paper Bills

The polymer material will last longer than the cotton paper currently in use, resulting in lower overall production costs and reduced environmental impact.

In addition, Ottawa also announced it will proceed to make cheaper Canadian coins as well, replacing the predominately-nickel based $2- and $1-coins with steel instead. (The mint has already done this for nickels, dimes and quarters.)

Young Leaders Expect Future Employers to Be Sustainable

A recent report of Canadian undergraduate student leaders outlines practices they expect businesses to adopt in order to become responsible corporate citizens.

Entitled "The New Normal: Sustainable Practices your Future Employees will Demand," the report captured dozens of recommendations however six sustainable practices emerged across all sectors:

Minimize waste through closed-loop business models:
Students wish to see new business models that engender environmental (and economic) efficiency through reduced waste.

Establish and enforce clear sectoral standards:
Students call for clear standards coupled with third-party checks and balances to ensure organizations are meeting their social license to operate and to enable benchmarking.

Increase transparency:
Students strongly believe that better information should be made available to the public regarding the social, financial and environmental factors that impact people's lives.

Encourage carbon regulation:
Students called on government to regulate carbon emissions in all sectors.

Increase student involvement in business:
Students want to get more involved in business through networking, internships, course-based research, and jobs upon graduation.

Increase community engagement:
Students believe that engaging communities at the grassroots can lead to sustainable communities and organizations.

Airport Security Fees to Increase

The federal Conservative government is hitting passengers with a 50 per cent hike in aviation security fees to pay for costly new investments in screening staff and equipment at Canadian airports.

In the coming fiscal year, with the approval of Parliament, the Air Travellers Security Charge will increase to match the demand of security costs. Industry and passengers can expect these user fee rates to increase, starting at $2.58 for one-way domestic flights, $4.37 for transborder flights and $8.91 for other international flights. They will use these funds to implement existing and new security measures.

Environmental Assessments Cost Too Much

Based on the approximately 140 such projects a year, this delay costs taxpayers an additional and unnecessary $232 million and holds back the creation of some 10,000 full time equivalent jobs annually.

Canadian Employers Contribute More

The report shows that employers contributed 4.6 per cent of salaries to their defined contribution (DC) pension plans in 2009, up from 4.5 per cent the prior year; and contributed 4.3 per cent of salaries to their group RRSPs in 2009, up from 3.9 per cent a year earlier.

The benchmark report also shows that more employees are maximizing their DC pension plan contributions: 80 per cent of responding employers with DC pension plans said their plan participants maximized their contributions so they can get full employer matching, up from 75 per cent in 2008.

For group RRSPs, 82 per cent of plan participants were reported to be maximizing their contributions, up from 75 per cent a year earlier. Among firms with fewer than 100 employees, 91 per cent reported that their employees maximize their contribution in order to optimize matching contributions from their employer.

- Overall, employer participation in group RRSPs rose in 2009: 46 per cent of respondents said the company contributed to their group RRSP, up from 32 per cent in 2008.

- Smaller companies were more likely to put money into their group RRSP. Among employers with fewer than 100 employees, 70 per cent make contributions, while 67 per cent of employers with 100 to 199 employees make contributions.

- Respondents reported that employees contributed an average of 4.5 per cent of salary to their DC pension plan in 2009, up from 4.2 per cent in 2008. Canadian employers are increasing contributions to their group retirement plans and more employees are maximizing their contributions to get full employer matching contributions, according to the 2009 Capital Accumulation Plan (CAP) Benchmark Report.

RRSP Contributions Down

An overwhelming 56 per cent of respondents did not make a contribution (a further six per cent preferred not to answer). Cash flow issues came out on top as the primary reason for missing the RRSP contribution deadline, with more than six out of ten (64 per cent) Canadians citing a lack of available funds as the main reason.

Small Business Owners Focus on Growth

Only 14 per cent of respondents said that they will require access to credit in the next six months to finance and grow their businesses.

Canada's Broadband Too Slow

A Harvard University report for the U.S. Federal Communications Commission, which regulates carriers, noted that Canada is “often thought of as a very high performer” because of the large number of broadband service subscribers.

However by its calculations, as of July 2009 Canada placed 25^th out of 30 countries studied in terms of pricing, 20^th in terms of online speeds and 16^th in terms of broadband penetration.

Overall, the leaders in broadband services are Japan, Sweden, Denmark and South Korea. In its rankings, Canada placed 22^nd overall, behind New Zealand, Spain and Austria.

Sales Challenges for 2010: Survey

In a recent survey which asked 15,000 salespeople about potential challenges concerning five key sales cycle categories, respondents indicated as a percentage basis, the following as the most difficult in each category:

Negotiations — Maintaining profitability during negotiations — 27.9% of the respondents

Closing Deals — Positioning competing value propositions — 32.0% of the respondents

Account Management — Finding additional ways to add value — 38.5% of the respondents

Expanding Relationships — Becoming a Trusted Advisor — 36.5% of the respondents

Salespeople Don't Exaggerate As Much

A research study on exaggeration found that salespeople who choose to exaggerate what they know also exaggerate what they will do. The 3,016 U.S.-based salespeople professing the most ability to sell highly influential prospects scored 61 per cent on the SPQ exaggeration scale while the 2,536 claiming more realistic ability levels scored 45%. International salespeople follow a similar pattern. Those claiming exceptionally high proficiencies also score the highest on exaggeration, while those making more modest claims score much lower.

Comparative studies done by researchers and others show that salespeople don’t exaggerate as much as members of some other professions. The overall exaggeration rate for 53,586 salespeople is 53.64% on a 0-100% scale. That conclusion is supported by an even larger sample (141,169 salespeople) reported in 2006. But, broadcasters (55%) score higher than salespeople. So do consultants (61%) and venture capitalists (65%). Some academics and psychologists score even higher.

Grass Really is Greener...

Corporate social responsibility (CSR) and the pursuit of cleaner, greener travel is taking shape in a majority of purchasing policies, according to a survey of 44 Canadian organizations that spend a combined total of $400 million on business travel annually.

Source: Canadian Business Travel Outlook 2010: The Conference Board of Canada/Association of Corporate Travel Executives

Good manners trump good looks

Nearly nine out of 10 Canadians (89%) report that they would be more attracted to an average looking person with great manners, versus a good looking person with poor manners, proving you do not have to look like Brad Pitt or Angelina Jolie to get a date.

Despite the fact that civilized conduct seems to be highly valued, Canadians do not appear to be incorporating society's esteemed code in their daily lives. In fact:

- Two thirds of Canadians (65%) say they witness lack of common courtesies on a regular basis, such as saying please, thank you or hello;

- More women (41%) than men (29%) report witnessing rude commuters on a regular basis; - Three-in-five respondents (59%) complain of regular exposure to road rage, such as tailgating and cutting off other drivers; and,

- More than half of respondents (54%) report witnessing technology abuse regularly, such as the use of cell phones and PDAs during meetings or while on a date.

Top Things That Most Define Canada

A survey titled 101 Things Canadians Should Know about Canada, revealed that among all the people, places, events, accomplishments and symbols that are a part of defining Canada, the Maple Leaf is ranked number one. Following in second place on the overall list was hockey, while the Canadian flag was in third place. Rounding out the top ten were the beaver (4th), the Canadarm (5th), Canada Day (6th), Peacekeeping/Peacekeeping by Canadian Forces (7th), Pierre Elliott Trudeau (8th), Universal Health Care (9th), and Niagara Falls (10th).

Talent Development New Focus for Employers

In companies that foresee no additional layoffs, 60 per cent executives indicated that they plan to increase programs for developing high-potential employees. What that number means: The ability to develop top talent is a differentiator for companies in a downturn, according to Deloitte. In companies that plan still more cutbacks in the coming quarter, just 34% of executives plan to increase high-potential programs, Deloitte finds.

Fewer Sick Days Logged in "Green" Buildings

New Changes to Mortgage Rules

Recently the Honourable Jim Flaherty, Minister of Finance announced a number of measured steps to support the long-term stability of Canada's housing market and continue to encourage home ownership for Canadians.

The Government will therefore adjust the rules for government-backed insured mortgages as follows:

These adjustments to the mortgage insurance guarantee framework are intended to come into force on April 19, 2010.

Delta Hotels and Resorts Announces "Dual Pricing" Model

Delta Hotels is offering either the CPSA rate or 10% off BAR *, whichever is lower at the time of booking, while not jeopardizing our negotiated value added amenities. During low demand periods, you can take advantage of special pricing and feel confident you are getting the best rates available. During high demand periods, the fixed negotiated rate guarantees a “cap”, on standard room accommodation. This dual pricing scenario ensures you receive the absolute best pricing.

* BAR – Best Available Rate – this is the daily sell rate a hotel monitors and adjusts based on demand and competitive environment that is available to everyone and is not client-specific.

Cutting Lead Generation Hurts Salespeople

Sixty-seven (67%) per cent. That's how many companies froze or reduced lead-generation budgets for sales reps last year, at a time when salespeople needed help the most, according to CSO Insight's survey of more than 2,800 companies worldwide. The percentage of reps making quota in 2009 dropped to 51.8% from 58.8% a year earlier, the survey shows.

High-end Customers Would Lead Charge to Purchase E-cars

350,000. That's the estimated number of prestige-oriented, high-end customers worldwide who would be ready to buy an electric automobile today, even if it were priced some $13,500 above the sticker on a comparable conventional car, Bain & Company research shows. These "eco-prestige" customers would lead the way in buying electric vehicles, according to Bain's study of more than 4,000 urban car owners.

Federal and Provincial Groups Launch Business Aid

To make it easier for business owners to get the information they need, the governments of Canada and Ontario have collaborated to create a telephone number with business information from both levels of government.

Callers can dial 1-888-745-8888 to TTY 1-800-268-7089 to get information on several topics including financing options, starting or growing a business, federal and provincial government programs, managing employees, regulations, taxes, permits and licenses, importing and exporting requirements and more.

The new service is part of an ongoing partnership between Industry Canada and Service Ontario.

Maintaining a Healthy Business Credit Score

March is Fraud Prevention Month

March is Fraud Prevention Month and Canadians can reduce their chances of falling victim to fraud by protecting their debit cards and personal identification numbers (PIN). Though the banking industry is moving towards chip — a new generation of payment card technology that will make payment systems even more secure, you can help protect yourself by following these simple tips:

• Select a PIN that's easy for you to remember but difficult for others to guess. Always avoid the obvious – your telephone number, date of birth, etc.

• Memorize your PIN. Do not let anyone else know or use your PIN and avoid writing it down.

• Always enter your PIN yourself.

• Never give out your PIN over the phone, Internet or mail. No one but you knows your PIN – not even your financial institution.

• Complete transactions only when and where you feel secure.

• When conducting transactions at an ABM or making a debit purchase, use your hand or body to shield the keypad when you enter your PIN.

• When a transaction is complete, put your card back in your wallet and take your transaction record.

• Shred or otherwise destroy your transaction records when you no longer need them.

Victims of debit card fraud are protected by the Canadian Code of Practice for Consumer Debit Card Services, and are reimbursed by their financial institutions.

Source: NewsCanada.com

High ROI on Face-to-Face Meetings

This is the first time that the return on investment of business travel has been successfully measured. The study found that curbing business travel can have a strong negative impact on corporate profits. For example, the average business in the U.S. would forfeit 17 per cent of its profits in the first year of eliminating business travel, and it would take more than three years for profits to recover.

Both executives and business travellers estimate that 28 per cent of current business would be lost without in-person meetings. Roughly 40 per cent of prospective customers are converted to new customers with an in-person meeting, compared to 16 per cent without such a meeting. Executives cited customer meetings as having the greatest returns, approximately $15-$19.99 per dollar invested, with conference and trade show participation returns ranging from $4-$5.99 per dollar invested.

Before You Leave for March Break, Ensure That Everything is in Order!

With the cold weather upon us…..some of us may be planning that vacation to the sunny south! If so, be sure that you are not leaving clues that your home is unoccupied and take a moment to review those items that might pose other threats to the home. Here’s a quick checklist.

Check with Pottruff & Smith Insurance Brokers Inc., the endorsed administrator for the CPSA Member insurance program. Simply contact 1.888.281.2772, cpsa@pottruffsmith.com or visit us online at www.pottruffsmith.com/cpsa.

Faring in the Recession

According to the eighth Rethink Retirement survey, almost half of all Canadian workers (44%) managed to keep their finances on track despite the recession. Even better, more than one in four (26%) indicated an improvement. However, one worker in three (30%) reported that they are now worse off. The recession appears to have had less of an impact in Quebec, where 53% of respondents said that their situation stayed the same, compared to an average of 44% in the rest of Canada.

Workers between the ages of 18 and 29 (44%) and respondents whose savings and investments increased or who paid off their debts (40%) saw their situation improve. Full-time workers make up 28% of these people.

When asked why they were now better off, respondents tended to mention a growth in employment income due to:

• Increased salary or raises (19%)

• A better job (promotion, full-time work) (14%)

Eighteen percent of respondents said that paying off debts (excluding primary residence mortgages) was the first step in improving their financial situation.

Nearly one worker in four (24%) reported debts of $1,000 or less, but couples with children (20% of respondents) had the most debt: more than $50,000. Generally speaking, this level of debt is seen among people between the ages of 43 and 52 (20%). Debt for respondents between the ages of 30 and 42 (21%) was between $25,001 and $50,000.

News and Events

Tech Etiquette Offenders