The importance of a dashboard is understood by everyone who operates a vehicle. Imagine driving a car without a speedometer and no indication of how fast the car is traveling. Would you get very far before cars behind you began honking in frustration for holding up traffic or before the police issued a ticket for speeding? What if the car has no gas gauge? How would you know the amount of gas in the tank or how far you could travel before needing more gas? What if there are no warning lights reminding you to be safe, fasten the seatbelt or indicate there are problems with the braking system or engine. The potential for a serious accident is huge if the brakes or engine suddenly give out with no prior warning of a problem.

Driving a car under these conditions would not be very enjoyable and would take a lot of extra effort. There would be constant distractions away from minding the rules of the road, being alert to your surroundings and the route to your destination. A dashboard enables you to get in the driver seat car and embark on a journey with only occasional glances to be sure that everything is in order, and if things go wrong, you are able to know quickly and take the required action. Think of your business as the vehicle you are driving. Are there any indicators, bells, whistles or warning lights providing information at a glance and at any given moment that your inventory is seriously low on an item?

What if a rush manufacturing order is received but stock is unknowingly depleted on an essential part? Cash flow is limited and you are unable to purchase the part. Suddenly the rush order is not getting done and your customer is not pleased. Not having the item completed on time causes delays to the customer and affects the whole chain of supply. Maybe orders were slow last month and revenue was down so the parts order was not completed as planned. Will your customer return after receiving unsatisfactory service?– hopefully but maybe not!

A business financial dashboard provides information at a glance and in real time about the current situation of a business; how fast revenue is coming in or expenses are going out, are inventory and productivity where they need to be? Information is presented in easy to understand images that quickly indicate performance. The dashboard also provides a tool for forecasting future scenarios. The information is readily available and accessible. A simple data entry can indicate the impact of changes in price or other variables. A quick glance at the financial dashboard confirms that your business vehicle is traveling in the right direction, at the right speed with enough gas to get you there. Everything is running smoothly and you as the business owner are able to spend more time and effort growing your business.

If you are interested in more information about financial dashboards, contact Kelly Sherrard at Enterprise Miramichi 622-5266.

Full time permanent employment for more than fifty individuals can be credited to the introduction of an employer-welcomed project; New Start 55+ (an older workers initiative) delivered through Enterprise Miramichi since August 2008.

The New Start 55+ is a federal-provincial cost-shared employment program created to provide a range of employment activities for older workers who live in vulnerable communities and who have lost their jobs. The New Start 55+ Project has been successful in assisting older workers find ways to shift the emphasis away from aging and job loss toward their ability to make a tangible contribution in the workforce. For many, their age, job loss and hourly wage decease is seen as less relevant when they are perceived as a valuable team member of a business or organization.

Participants in the New Start 55+ Project begin their transition with a six week Essential Skills Training component ranging from Literacy, Numeracy, Communication, Team Building, First-Aid, CPR, Basic Computer Skills and much more.

Employers and scholars are not surprised by the level of comprehension of this group and how the many years of “just living life” has made them top grade students. Specific, specialized training for successful integration into new employment is offered to various employers based on agreed-upon skills up-grading for sustainable long term employment.

Employers in our region are required to keep up with the fast-paced knowledge of new technologies causing changes in hiring techniques just to keep up with times. However, many companies have made a commitment to be part of this initiative acknowledging the value of Miramichi’s experienced and dedicated workers.

At a time when the Miramichi region is facing labor shortages, the experience of workers 55 and over should not and cannot be overlooked. With some active support and practical help, these workers will continue to make an important contribution to our communities. Thank you to all employers of our community who have participated in New Start 55+ for trusting in the abilities of our older workers. The New Start 55+ Project is searching for new employers to explore the interesting avenue this initiative offers to the workplace. If you are an employer with employment needs, please consider an experienced, dedicated and mature worker.

This project offers 70% of wage reimbursement and 70% of reimbursements for employment deduction cost.

For more information on this initiative, please contact Kim Drisdelle at 622-5259 or kim.drisdelle@ent-miramichi.ca

The Community Business Development Corporation (CBDC) Northumberland is a non-profit, non-governmental organization which focuses on maintaining employment and fostering entrepreneurial growth in Northumberland County. It is one of ten CBDC’s in the province, supporting all of rural New Brunswick.

Available CBDC programs include the Business Loan Program, the Seed Capital Connexion Loan, Women in Business, the Self-Employment Benefit Loan and Business Counseling. Through these programs, CBDC provide loans and counseling to their clients. Each program has its own restrictions and list of criteria for eligibility. This article will focus on the Women in Business Program, however if you would like information on any of the other CBDC programs, please look to the end of this article for the contact information of Greg McNulty.

Women in Business Initiative
The NB Association of CBDCs offers services to women entrepreneurs through the Women in Business Initiative (WBI) program. One-on-one support is provided to women living in both rural and urban areas. The WBI program ensures that women business owners have the products
and services they need to move their business forward. Women business owners are assisted to access expert business advice, information, mentorship and support; acquire information on financing; identify ways to enhance their innovation and export capacity as well as obtain
training, professional development and networking opportunities.

For more information on the CBDC Women in Business Initiative program, or any of the CBDC programs mentioned, please contact Greg McNulty, CBDC Northumberland Inc. General Manager, at
greg.mcnulty@cbdc.ca or by phone at 778-2121.

At the Business Development Bank of Canada (BDC), we design financing and consulting solutions with the goal of helping entrepreneurs succeed. For this reason, we’d like to share some of our business solutions which have served Canadian entrepreneurs for over 65 years. BDC offers flexible solutions with a high percentage of financing in order to help protect your cash flow. We provide entrepreneurs from all across Canada with the financing they need for a variety of projects:
Land and building purchases: Term loans that can be repaid over a period of up to 30 years and the possibility of deferring principal payments for up to 36 months at loan authorization.
Equipment purchases: Financing of up to 100% that can be repaid over a period of up to 12 years with additional working capital to cover installation, transportation and training costs. Possibility of deferring principal payments for up to 24 months at loan authorization.
Working capital: Financing that can be repaid over a period of 8 years to acquire a business, develop new markets, launch new products, etc.
Furthermore, our network of experienced consultants can provide you with the know-how to improve various areas of your business:
• Business diagnostics to uncover opportunities for improvement
• Financial management to improve profitability, value and produce measurable results
• Operations efficiency to boost productivity
• Assistance to achieve ISO, HACCP and workplace health and safety certification
• Marketing and sales strategies to increase revenues
• Strategic planning to map out your company’s future
• Human resources management to improve recruitment and staff management
• Innovation planning and R&D tax credit claims to reap the benefits of innovation
• Transition planning and exit strategies to prepare for the future

What sets us apart?
Statistics Canada conducted a study whose findings showed that BDC clients using financing and consulting services had up to 59% higher revenue growth than non-BDC clients*. These results stem from our dedication to building strong client relationships, and finding a way to make our solutions work for you.

For a better look at what BDC can offer, visit us at www.bdc.ca and take advantage of some of our free business tools:
• Business plan templates
• Ratio calculators
• E-Business Diagnostic tools
• Dozens of free whitepapers
• Ask-a-professional program (http://www.bdc.ca/en/business_tools/ask_professionnal)

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At BDC, we put Entrepreneurs first.