“Please tell me more about yourself…”
“I’m a pug owner who fell in love with balloons over a decade ago, and I constantly marvel at how being a balloon artist has opened my world up to friendships and creative opportunities around the world.”
Meet Kristal Yee – business owner, pug-lover, award-winning face painter and balloon artist, and proud Surrey citizen. She grew up here having attended Green Timbers Elementary and then Enver Creek Secondary, and is a Surrey homeowner. And now, she has been paramount in putting Surrey on the map, due to her reputation of creativity and professionalism in her respective field.
But how does one get involved in the wild world of balloon art and face painting? “I trained in theatre way back in the day, and one summer [during my twenties], an acting colleague of mine asked if I wanted a job working with kids (they were short staffed that weekend).
I didn’t have any shows or anything going on at that time, so i figured, why not! I ended up painting my first face paint design, and twisting my first one-balloon creations…and things went from here!” And what was that first balloon Yee created? “I believe, either a classic one balloon dog, or a one balloon sword.” Yee completed the Douglas College theatre program, and did a few semesters at Studio 58, along with training with David MacMurray Smith (a local performer and educator). There are some key takeaways from her learnings that Yee still takes into account on a daily basis…. “being present in the moment as much as possible, remembering that when I’m saying things, some people are hearing the story for the first time, and breathing from my diaphragm.”
It’s one thing to help a friend out with an event one time, another to make something into a full-time career. But Yee did just that. “For a long time, I would take weekend bookings, and go to auditions during the week (for acting). At some point, I started thinking to myself that auditions were taking up the time that I could be putting towards events!
That was around the time I started transitioning (into a full-time career of this).” “[My family and friends] thought it was great! Everyone was very supportive. I found out that some of my colleagues weren’t as fortunate when telling their families about their chosen career – so I consider myself very lucky to have everyone behind me.”
Yee has come a long way since the initial balloon dog and sword. Now with her business, she is booked nearly all year, well in advance, and has broadened her portfolio to making balloon art as complex as balloon dresses! “Most of my work is face painting and/or balloons in a party/line work setting. I also create what I call Balloon Candy Cups – essentially, the balloon version of a goody bag!
I have also been doing more decor/large pieces, though I do more of a deco-twisting style, rather than classic decor.” She covers anything from birthdays to grand openings, wedding receptions to baby showers, and even some trade shows and large international builds – being a part of a Guinness World Record! “All of the events I have coming up are special ones.”
“One of the coolest things about my chosen career, is that it lets me travel! I have twisted balloon creations in Italy, China, across the United States, and just this past summer my colleagues and I travelled to Australia to create an Enchanted Garden out of balloons, complete with balloon dresses for the bride and bridesmaids, for a balloon artist wedding!”
And what’s one of the coolest international events she has participated in thus far? Representing Team Canada at the World Balloon Convention (WBC), which took place in San Diego in March 2018. “A number of years back I’d been thinking about how Canada was never represented. The few Canadians that did attend, usually ended up helping our American friends, as no one had put together a Canadian team.”
After realizing that there was no Canadian representation at Worlds, “I mentioned to some fellow Canadians that I’d been playing with the idea of competing there. At a convention in 2015, I believe, someone came up to me, introduced himself and said he’d heard that I was going to start a Canadian team. So I looked across to another Canadian I’d been talking to, and asked if he was interested – and it went from there!
I had an idea of each potential member’s skills, and each of the 4 original members I asked have all been assets to the team. We started with 5 members because our first compress in the Medium category – that could have a maximum of 5 people!” “I ended up being a founding member of Canada’s Twisted Team (originally Canada’s Twisted Five).”
In the 2018 WBC, competitors were allowed to use Disney characters for the first time, and naturally, Team Canada decided to design a piece called the “Sorcerer’s Serenade.” In this design, sorcerer Mickey was included wooing Princess Minnie while accompanied by an enchanted broom band. The team had 27 hours to complete their design with no allowances for preparations ahead of time. Within the 27 hours they were required to cut, shape, and present their entire display. The Pioneer Balloon Company chose judges (from within the industry) for each competition based on their area of expertise, and after tough competition and judging criterias, Team Canada received a Bronze Achievement Award!
The next WBC will be held in 2021, and Team Canada is unsure if they will attend to continue their winning streak, but nonetheless, this previous event has brought a spotlight to Canadian balloon artists on an international stage through Canada’s Twisted Team – which was the team’s principal goal. “At this point, we do still have plans for future projects, though whether that includes full team competitions or not is up in the air!
Yee is proud of the Surrey arts scene and expresses her pride in hearing about local concerts and performances happening at the Surrey Arts Centre and other local theatres.
Like any art form, the community embraces newcomers. Yee explains that there is an infinite number of resources available online for those wanting to learn more, and there are also a couple of monthly “balloon jams” that local balloon-twisting community hosts where you can practice and learn more from the pros.
For instance, upcoming jam information can often be found on the Raincoats Clown Troupe page on Facebook.
Want to keep in the loop with what Kristal Yee is up to or learn more about the wonderful world of balloon art and face art? Check out her website and social media!
City of Surrey Among Canada’s Top Employers for Young People
The City of Surrey has been selected as one of Canada’s Top Employers for Young People, which recognizes the nation’s best workplaces and programs for young people starting their careers.
“This award is a testament to the great work our City does to invest in young people and ensure a bright future for Surrey,” said Mayor Doug McCallum. “Programs like our summer hiring initiative, internships and co-op placements have helped more than 400 young people build and advance their careers each year.”
This is the ninth consecutive year that the City of Surrey has received this distinction and is the only municipality in British Columbia to be recognized with this award in 2020. Some of the programs and initiatives the City is being recognized for include:
- Providing post-secondary students between the ages of 15 and 30 opportunities to gain work experience in a variety of positions in the City of Surrey’s summer student program
- Offering a 2-year Emerging Leaders program to provide new and emerging leaders with training, education, work experience and self-development opportunities
- Helping students gain career-level experience through co-op placements and a technical student program, offering opportunities in a variety of fields, including engineering, water and sewer planning, media design and information systems
With 16 percent of the City of Surrey’s full-time employees under the age of 30, supporting our young workers is an important step to cultivating a desirable and engaging workplace.
More information on a career with the City can be found here.
CSR for SMEs: Small businesses making a big difference
CSR for SMEs: Small businesses making a big difference
Corporate social responsibility (CSR) is often seen as the preserve of large enterprises. From the outside, the CSR practices of large business often appear to be thinly veiled attempts to bolster brand image and resonate with their key demographics. However, CSR doesn’t have to be a cynical affair – or exclusive to enterprises.
Those who view CSR negatively should consider whether it’s better for companies to give with personal gain in mind, or not give at all. While businesses’ images absolutely benefit from effective CSR, this is rarely immediately reflected in their bottom lines. Jaded consumers are typically unswayed by one-off demonstrations of “altruism”. Over time, however, companies which prove themselves to be ethical, environmentally friendly or socially supportive, enjoy greater longevity and brand loyalty. Businesses which do not take causes seriously, or which hope to gain from “flash in the pan” shows of charity, rarely see meaningful gains from their CSR campaigns.
The benefits of ongoing, committed CSR practices are increasingly apparent to smaller businesses, too. The beauty of charitable or socially-minded programmes is that they are incredibly scalable and versatile. Businesses of all sizes can offset the more negative effects of their daily operations in a manner which is meaningful to them – and manageable for them. Just as long term CSR projects can earn large enterprises a positive reputation (while achieving positive outcomes for charities and communities), smaller businesses can also benefit from this “win-win” situation.
CSR Case Study: Fruitful Office
To illustrate the positive impacts of CSR in a SME (Small-to-Medium sized Enterprise), we’ve stepped into the world of Fruitful Office; an office fruit delivery company, currently running a successful programme Planting Fruit Trees in Africa.
For every fruit basket sold, the company has planted one fruit tree in Malawi. This location and this project were chosen for their productivity and potential benefits. Fruit trees grow quickly in this region, maturing in 3-5 years and producing reliably abundant harvests of fruit such as guava and papaya.
Working in association with RIPPLE Africa (a UK charity focussed on projects which engage local communities in Malawi), Fruitful Office provided seedlings, instructions and training for householders, schools, community groups and farmers. In some cases, equipment was provided, empowering Malawians to grow productive trees which would help generate sustenance and potential income.
Extending the project
In 2016, Fruitful Office took its CSR project further, working to combat deforestation in Muzuzu by planting fast-growing guava, papaya and senna siamea trees (the latter is an excellent source of firewood). The project was shaped by local government forestry staff – and through consultation with the local community. By working with communities directly, the fruit delivery business has been able to develop initiatives which generate real benefits, matching the needs of local people and dovetailing neatly with the company’s offering.
With customers in Europe and the UK becoming ever more environmentally responsible (especially in the wake of global movements such as the Extinction Rebellion), companies which use natural produce stand to win custom if they can negate their use of natural resources – and evidence this. Planting fruit trees to both support Malawian communities and reduce the effects of deforestation neatly demonstrates this SME’s understanding of shrewd CSR which simultaneously benefits society and supports business growth.
Essential Agreements for Your Business
What agreements do I need for my business?
A significant part of my practice involves advising clients on which agreements best suit their business needs and goals. Whether it’s two partners looking to start a new venture, a growing business looking to fundraise, or a more established entity negotiating an acquisition, they all need agreements that will protect them from risk and allow their businesses to flourish.
A bootstrapping business may not be in a financial position to put all necessary agreements in place before they launch their business, but it is still important that they understand that investing at least some money now can protect them from potentially incurring thousands in litigation costs later.
Following is an overview of some common agreements, why they are important, and how having the right agreements in place at the right time will benefit your business regardless of the stage of growth you’re at.
Any business involving two or more owners should get legal advice on drafting a shareholders’ agreement as early in the process as possible, ideally at the time of incorporation. Starting a new venture often involves a ‘honeymoon’ period during which the owners are getting along very well and are fully engaged and bringing new ideas to the table. It is not uncommon during this stage for owners to take their good relationship for granted, not anticipating the challenges that may follow.
Business partners, especially friends and family, can sometimes get into disagreements over seemingly trivial issues which, if left to fester, can cause anxiety and further confrontations as the business grows and becomes profitable. Therefore, the key consideration for any business involving multiple owners is to ensure that the expectations, responsibilities, rights and restrictions of each owner are clearly defined in a properly drafted shareholders’ agreement.
Critical discussion points may include:
- what happens when one partner wants out of the business
- whether each shareholder will need to provide a proportional amount of investment funds when the company needs cash
- what happens to the shares on death or disability of one of the owners
- non-competition/non-solicitation clauses to protect employees and customers
- key-man insurance, which protects an owner’s family in the event of disability or death
The agreement can be designed to be as simple or as complex as necessary to minimize disputes, ensure clarity, and avoid misunderstandings between the parties, even if all parties are not in full agreement on all points at the outset. The agreement can always be tweaked in future, as the business evolves.
The absence of a shareholders’ agreement covering the most essential aspects of the relationship between the parties can allow a business to ultimately suffer from deadlock due to unresolved disagreements, and lead to costly litigation.
Also known as an NDA or a confidentiality agreement, this type of agreement is important to have in place before you communicate with any suppliers or investors who may be privy to the core secrets and data that underlie your business. Without an NDA in place, third parties are under no inherent obligation to protect or maintain confidentiality around the information received, leaving little recourse for your business in the case of a privacy breach.
This agreement should be drafted prior to engaging in any substantive discussions with such third parties. Another option to a standalone NDA may include inserting tailored confidentiality clauses into other existing agreements. Your lawyer can help you decide which approach is best for your business.
Employment / Independent Contractor Agreement
Any business hiring an employee or engaging the services of an independent contractor (also known as a freelancer) should require that the party being hired sign an appropriate employment agreement document. This protects the business not only from potentially incurring thousands in unforeseen severance obligations should the employee be terminated in future, but also protects any intellectual property developed through the course of the employee’s duties to the business.
Businesses will also want to ensure that independent contractors are responsible for self-reporting any tax liabilities to the Canada Revenue Agency, are adequately protecting confidential information from falling into the wrong hands, and that any out-of-pocket expenses are pre-approved by the business.
These agreements should be drafted and adopted prior to the hiring of the third-party, as it is very difficult to implement once the relationship has commenced.
If a business in the growth phase is looking to fundraise, either from third-party investors, friends, or family, a subscription agreement is essential to ensure appropriate compliance with securities laws.
Many private businesses are unaware of the strict securities laws governing how non-founders can invest in the business. The broad eligibility categories for any person looking to invest in your company include:
- accredited investors
- friends/family/business associates
- minimum investment threshold by an individual
If a business decides to raise money from third parties without carefully obtaining legal advice, they risk severe penalties and potentially even jail time. Before considering or accepting any external funds, ensure your lawyer is qualified to advise you of the necessary requirements under securities law that govern your business.
Tips for Good Agreements
A poorly drafted agreement can cause more headaches than it’s worth, not to mention potential litigation should interpretation of the agreement come into question. Non-lawyers should avoid drafting their own agreements, even if it may seem convenient or expedient to do so, as a variety of laws and case precedents may be applicable to the agreement and can undermine its enforceability and legality.
Having an agreement drafted by a lawyer does not automatically ensure that it is a “good” agreement. A lawyer who is not fluent in business law may provide a document that is substandard. A good agreement should demonstrate a deep and nuanced understanding of the relevant laws, be formatted clearly, and use concise language when possible without the need for extraneous legalese. It should contain a section that defines terms, which should then be used consistently throughout the agreement. For example, we often encounter capitalized terms used in agreements that lack any proper definition and for which the context remains ambiguous.
Where applicable, commercial agreements should include:
- details on the length of the term of the agreement
- renewal provisions
- clear pricing and payment provisions
- termination clauses (and identify the effect of any termination)
- data ownership/intellectual property aspects relating to the business
- appropriate indemnities to help prevent the need to go to court for enforcement
Alternative dispute resolution and jurisdiction are also important considerations that should be discussed, since they also have the potential to avoid costly litigation.
Businesses may be hesitant to incur legal fees, especially at the outset, for obvious reasons. While certain agreements can be appropriately postponed until they are truly necessary for the business, some of the essential agreements covered here are important to discuss and implement sooner rather than later to ensure your business avoids potentially costly litigation and is well-protected for the future.
Anand Athiviraham is a Senior Associate in the Business Group at Watson Goepel LLP and focuses on advising entrepreneurs at all stages of their business. He works from both the firm’s downtown Vancouver office and its Surrey location.
Three Compelling Reasons to Outsource Your Bookkeeping Work
If you’re a small business owner, you would have very likely contemplated the idea of outsourcing your bookkeeping work.
Hiring your own bookkeeping and administrative team to handle year-round bookkeeping takes A LOT of work. And this can be incredibly costly.
For example, the average hourly wage in BC to hire a bookkeeper is roughly $21 an hour. according to Payscale. As a full-time employee at 40 hours per week, you’re looking at $3,300 per month, or $40,000 a year.
On the most conservative level, this is at least 50% more expensive than outsourcing it to a bookkeeping firm – and that’s only from a cost perspective.
Below, we lay out three compelling reasons for you should outsource your bookkeeping to a bookkeeping firm:
1. Outsourcing your bookkeeping does the job at a cheaper price
As we mentioned above, outsourcing your bookkeeping can still help you accomplish what needs to be accomplished, albeit at a lower cost.
Hiring one in-house bookkeeper would cost a business roughly $40,000 per year, and that’s before any employee benefits and payroll costs like CPP & EI.
If we compare this cost to outsourcing it to an online bookkeeping firm like Rooks, you’ll see the huge difference in cost savings:
Looking at Rook’s tiered pricing model, we can see that the ‘Essential’s’ tier goes for $199 USD/month, while the highest pricing tier costs only $899 USD/month, making out to be $2,400 USD and $10,800 per annum respectively.
That means the average small business owner saves between $19,000 – $30,000 per year by outsourcing their bookkeeping!
The reason as to why bookkeeping firms are so much cheaper is simple.
As bookkeeping firms are doing the same work for hundreds of clients, they are able to build a streamlined work-flow and process that allows the bookkeeping firm to work at a much more efficient rate, an advantage called the economies of scale.
Furthermore, an in-house bookkeeper’s work is often redundant: their job often entails reconciling the books once per day, while most bookkeeping firms do it once a month (although it can be shorter depending on what the scope of work is).
This drastically increases the inefficiency rate for an in-house bookkeeper, as they have to go through the same reconciliation process thirty times more often than a bookkeeping firm that would otherwise do it once per month.
Obviously, the benefit for the small business owner here for hiring an in-house bookkeeper is that it’d then be possible to get financial data that is updated daily – but the argument is whether the additional $19K-$30K cost is worth having the daily financial data. The answer, generally, is that it’s not worth the cost for a small business owner because daily financial data is a LOT less actionable for a small business than it’d be for an enterprise.
As a small business, your opportunity cost with money is too high. The $19K-$30K cost savings could instead go into other aspects of expanding your business operations, which is probably a much better use of your money!
2. Advisory and Peace of Mind
One of the biggest advantages of outsourcing your bookkeeping work is that you’ve essentially hired a whole firm of financial experts who oftentimes know more about the numbers than you do!
Personally, at our own firm, we offer a free half-hour meeting each month, where we sit down with our clients to go over their financial statements and KPIs, as well as areas for improvement.
Our clients often bring their own financial questions which we would provide advice for, such as, “What can I do to improve my net income”, or “Why does the income statement say I have a net income for June, but my bank account has less money this month?”.
If you had to hire a financial consultant to answer these questions for you at $50-$100/hour, you would’ve already got your $200/mo money’s worth by having us answer those questions instead!
I probably don’t have to tell you why it’s important to have an advisory board for your business, but if you don’t already have one, reaching out to a bookkeeping firm for advice is already a good start. They’ll have the experience and financial expertise in different business matters that your in-house bookkeeper often wouldn’t have.
As your business grows, your bookkeeping team will need to grow along with it.
Having one in-house bookkeeper may be sufficient for now when you’re handling $10,000 in monthly revenues, but what about at $100,000 monthly revenues or $1,000,000?
Imagine the work it’d take to manage a team of in-house bookkeepers, and the risk you entail by doing so.
And not only that – but what if your bookkeeper suddenly decides to quit one day?
As you can see, there are a lot of risks and headaches involved with having an in-house bookkeeper, especially as your business scales.
By hiring a bookkeeping firm, you’re essentially letting them handle all that hassle and responsibility.
More often than not, it just doesn’t make sense for a small business owner to hire their own bookkeeper.
There’s too much work involved, too much responsibility, and too expensive.
While there are some benefits to hiring your own bookkeeper, such as daily financials, the costs and efforts of doing so are simply too high.
At Rooks, we have a team of expert bookkeepers who are able to handle your books in Quickbooks Online. We’ll take away the headache of managing your books, at a lower cost! Try Rooks now.
Top 5 Fintech Companies in Canada
After years of slow growth, the Canadian fintech sector is getting bigger and livelier. It defied expectations as half of the nation’s population is now digitally active, according to Ernst & Young’s Global Fintech Adoption Index 2019.
Furthermore, our friends at Fortunly attest that Canada is among the first nations to embrace Bitcoin. The legalization of the pioneering digital coin in the country has emboldened homegrown innovators to explore the potential of blockchain and cryptocurrency in order to achieve strategic business goals.
The best example is Kik, Canada’s only unicorn. In 2017, the chat platform launched an initial coin offering and successfully raised about $100 million from the token sale.
Dozens of startups currently populate the growing fintech ecosystem of Canada. Although most of them position themselves as alternatives to traditional financial institutions, there are some that provide innovative solutions directly to bankers.
Below are the top 5 fintech companies that actively collaborate with banks.
Mobi724 facilitates credit card payments on all devices or point of sale systems. It empowers banks to deploy traditional and mobile payment terminals anywhere.
The company also specializes in Payment Card Industry Data Security Standard compliance, customer engagement and retention, and data monetization.
Mobi724’s turnkey business intelligence solutions help financial institutions understand their customers by analyzing purchase patterns and online behaviours.
Moreover, the Montréal-based company assists credit card issuers in launching measurable marketing campaigns and implementing painless online-to-offline loyalty point redemption programs to delight shoppers.
2: Salt Edge
Salt Edge is one of country’s leaders in open banking. The company’s financial API (application programming interface) platform builds bridges between banks both in and outside of Canada.
Using Salt Edge’s products, traditional bankers can be on par with the world’s most innovative financial institutions, expand their international footprints, and stay competitive in the ever-evolving digital landscape.
Apart from granting customers access to their accounts, no matter where they are, Salt Edge–affiliated banks can also extend financial management tools to induce loyalty among their customers.
The company’s white label retail banking solution makes it easier for ordinary consumers to consolidate all bank accounts, set budgeting and saving goals, seek expert advice, and receive auto-debit warnings and other useful notifications through one app.
NamSys strives to keep cash alive and relevant in the digital age. Its software solutions render cash processing super-efficient to help physical currencies remain competitive despite the growing pervasiveness of electronic payments.
Hailed as one of the promising Canadian fintech stocks in 2019, this publicly traded company offers fintech-driven cash vault management and deposit tracking solutions to give traditional banks a 360-degree view of their cash flow 24/7.
Connected to the cloud, its cutting-edge monitoring solution creates a frictionless process to manage extensive networks of smart safes more easily.
The company’s platform rationalizes interfaces and reports while giving banks the convenience of real-time activity tracking. It also provides remote configuration of software and firmware, and scheduling of safe updates.
Headquartered in Toronto, Sensibill simplifies receipt management to help banks serve their commercial customers better. Through the company’s app, small business owners as well as freelancers can track expenses and comply with tax regulations, with little stress.
The company uses optical character recognition to distinguish printed and handwritten characters in photographed paper receipts. It utilizes deep learning artificial intelligence to structure more than 150 unique pieces of data found on receipts virtually in an instant.
Sensibill also helps self-employed professionals separate personal and business financial matters in one account more easily to save a ton of time on administrative work.
Another pride of Toronto, Quandl serves as a one-stop shop for financial data from conventional and alternative sources.
It shortens the path toward information monetization for businesses. The company utilizes advanced analytics and brings the datasets closer to interested parties through an API and custom libraries.
Its platform is being used by more than 400,000 professionals, including asset managers and investment bankers, worldwide.
After fueling historic auto sales, tech companies are poised to help financial institutions in the country to innovate and increase their revenues. Considering how quickly average Canadians have been adopting mobile and online banking solutions, it is only a matter of time before all traditional bankers join the fintech revolution on this side of the world.
– View All Events –
Moving Forward Family Services and SEVA Thrift Store Society Announce New Program
Coldest Night of the Year Event Raising Funds and Awareness For Those In Need
What Surrey Needs To Change In Order To Be Considered The New Downtown Of Metro Vancouver
Armaan Chohan joins DFSIN BC
Valentines Day Restaurants Perfect for Date Nights
Community Board3 weeks ago
Councillor Locke’s Notice of Motion Supported by Local Aboriginal Leaders
City1 week ago
What Surrey Needs To Change In Order To Be Considered The New Downtown Of Metro Vancouver
Cannabis4 weeks ago
Cannabis Accoutrement Brand Serves Up a 420 Valentine’s Day
Education4 weeks ago
Surrey Libraries Support Learners Obtain Google IT Support Certificate
Education4 weeks ago
Hundreds Enjoy Surrey Libraries EXPO
Arts and Entertainment3 weeks ago
Surrey Art Gallery celebrates 10 years of digital and interactive art with new book about Urban Screen
Charity1 week ago
Coldest Night of the Year Event Raising Funds and Awareness For Those In Need
Food & Drink3 weeks ago
How One Family Brought the Flavour of Colombia to Vancouver, BC