RAY MARTIN Manager ACTIVEWEAR f ANorth Shore resident for 24 years, Ray Martin, Manager of J.P.’s Activewear, has been very successful in perfecting the warehouse shopping concept. Practical and educational experience has taught Ray thot today’s shoppers are wanting brand nome, Ist suality fashions of reasonable prices. Back in 1983, Ray was approached hy Mi. Jim Erownlee and asked to manage o one day a week rupby- wear operation. The success and acceptance of this “no frills” shopping is how J.P.’s originated. Being 2 well-known sports figure on the North Shore, both as a participant, and as a coach, has enabled Ray to offer an invaluable service in ou iting individual athletes, as well as teams. A hard-working, determined young man, Ray has made J.P.’s an affordable ploce to shop for the entite family, Ray welcomes everyone to come and view the doily arrivals on new spring and summer merchandise. ‘LEW FINNAMORE MANAGER CRANNY’S ee a WOCOSTOVES © F:REPLACES » ACCESSOMIIS Lew Finnamore, born in Perth, New Brunswick 51 years ago, came to B.C. in 1957. He spent most of his years as a trucker, and has owned his own business in Vancouver for 13 years. A iriend of Lew's persuaded him to enter Sales and then asked him to manage his jewellery store. Lew left the moving business and managed Ragnar Jewellers on Granville Street for the next two and a half years. Lew was then approved to work for Fireside Heating Systems which had the distributorship for the Free Heat Machine Fireplace Heat Extrac- tor. He managed the business for six years and then it was sold to Gran- ny's Woodstoves of Duncan and Victoria. His sales career has been oustanding with sales for a two to three man operation from $150,000 in his first year to $1.211,000 now. Lew bases success on a number of things: honesty, good service, a good sens? of humour, and product knowledge. A sale does not end when we get your money, but service brings continual good business. It is wise to sell approximately three good tines of products and important to inform your customer of both the pros and cons of the products one sells. One Must be prepared to sacrifice time to run a good business. {t is better to be successful than to look successful. Today, Granny's are the distributor for the Free Heat Machine, Pacific Energy Stoves and Inserts, and Empress Stove and Zero Clearance Fireplaces, and we have also been selected to represent the Faber Gas Fireplace insert from Holland, and Lew believes all of these products are the best on the market. Lew has six grown children and eight grandchildren, so it is obvious all his time has not been spent just selling stoves. He can be found at the galt course on sunny days if not found in Fs store. His favourite holiday location is Maui, Hawaii. Why not drop in to see Lew at Granny’s, if only to have a coffee, enjoy a laugh, and make a new friend. GRANNY’S WOODETOVES » Fem ACES > ACcEEIONNS 4538 Kingsway, Burnaby, B.C. Telephone 438-4558 dere obedient Venture 25 - Wednesday, March 5, 1986 - North Shore News THE PROVINCIAL gov2rnment’s Small Business Venture Capital Program is starting to show some concrete results. Initiated last year, the program was set up by the Ministry of In- dustry and Smal) Business Development as a means of linking small B.C. businesses with the equity capital investors can pro- vide. It provides tax breaks for in- vestors who form a Venture Capi- tal Corportion (VCC) that invests in certain smali businesses. Those businesses must be engag- ed in manufacturing and process- ing, research and development, tourism, or aquaculture. The business can be established and wishing to expand, or can be one that is being started from scratch. As much as $2.5 million can be invested in an eligible small business by a VCC, or a combina- tion of VCCs, By the end of last year, 17 Ven- ture Capital Corporations had been formed, says program direc- tor Gil Blair. Some $13 million in equity capital has been raised by these companies, “Some of these are running around trying to raise their equity capital,’’ says Blair. “Others have their equity capital and are looking for companies to invest in.’’ To date, VCCs have invested a total of about $900,000 in four small businesses. Three of these businesses involved secondary wood manufacturing, and one in- volved a combination of research and development and manufactur- ing. Two of the businesses were in the Okanagan, one was in Surrey, and one was in Vancouver. The program is aimed at ‘small’? businesses with no more By LISA SMEDMAN Contributing Writer than 75 employees. A business can only qualify for the program if at least 75 per cent of the wages it pays goes to employees who work in B.C. A formula determines whether a company is ‘‘substan- tially engaged’’ in doing business in B.C. Once a VCC has invested in the company, the number of employees can increase to 150. But once the total number exceeds 150, the VCC must pull its investments out of that business within two years, The most important criteria is that the business must be at “arm's length’? from the VCC. But the owner of a small business could encourage friends or associates who wish to invest in a business and who are not already linked with it to set up a VCC. Those investing ina VCC will later qualify for a provincial income tax eredit or refund equal to 30 per cent of their equity investment. This tax credit can reach an annual maximum of $60,000. The VCC itself must have raised $25,000 of equity capital prior to applying for registration under the Venture Capital Program. This capital must be increased to $100,000 within 12 months. The VCC must be a brand new corporation - it must never have previously carried on a business. There are also rules that tist how much of the capital raised must be invested in an_ eceligible small business within a set period of program shows results time. A bulletin prepared by the ministry, called ‘‘Smail Business Venture Capital Act Regulations,” gives a fist of which kinds of businesses qualify to receive VCC capital. It points out a number of types of manufacturing and pro- cessing industries which do not qualify, and generally accepts scientific research and develop- ment facilities as they were defined by the Canadian Income Tax Act. ‘‘Aquaculture’’ is defined as the cultivation or harvesting of aquatic plants and animals. Qualifying tourist industries in- clude resorts, hotels, charter ser- vices, recreational activities and tourist attractions. There are specific rules listing how many days these facilities must be open, who they must cater to, how many tourists they must attract, and how much gross revenue must be generated by the business annually. “Small Business Venture Capital Program’’ pamphlets that explain the VCC program are available at the Ministry of Industry and Small Business Development office 2% 800 Horaby St. Phone 660-3900 to obtain a copy. Business owners or. en- trepreneurs seeking capital from a VCC should phone 387-0225 and ask for an application form that determines whether a Dusiness is strong enough to qualify for VCC capital. Blair says a ‘“‘matching service’ that would link small businesses with VCCs could be operating within a week or so. Copies of the ‘‘Small Business Venture Capital Act’’ itself are also available. These are primarily useful to those wishing to invest in or form a VCC, , Joanne Mowatt Owner/Manageress North Vancouver is pleased to welcome back the syiph method of slimming, thanks to Joanne Mowatt, former manager of Syiph Salons, who has recently opened her own salon, Figure Dynamics. As Vancouver's original figure salon, Syiph Saions’ unique method was introduced to Vancouver eight years ago, and since that time has had literal- ly thousands of satisfied customers. At Figure Dynamics, Joanne once again introduces this passive form of exercise which enables you to accomplish in one month what it might take over a year to duplicate in a gym. For more information give Joanne a call at Figure Dynamics, 986-9127.