B8 - Sunday, May 1, 1983 - North Shore News

@ business

NEWS photo Terry Petere

MARKETING MANAGER Don Peterson of Rabco Industries of North Vancouver demonstrates the variety of gar- bage that their new shredder/compacter can handle. Rabco manufactures various garbage units that can handle par- bage requirements from small apartments and stores right up to industrial complexes.

Management for recovery

The Canadian economy is beginning to grow again and as it does it will present new opportunities for small business. But small busines owners and managers can't just wait for those op- portunities to arrive at their doors. They must actively seek them out and exploit them to maximum _§ad- vantage.

Management for survival during the recession em- phasized the prudent conservation of small business resources. The careful budgeting, tight inventory controls and other survival measures are as necessary as ever. But now, with the economic prospect bnghtening, smal! business people can begin to develop and implement their own strategies for growth.

Most entrepreneurs have at least a general idea of where they should look for new growth. There may be new hnes of merchandise which the retailer may now feel can be offered without unnecessary msko Or there may be new products whose start-up costs) the = small manufacturer belheves can now be adequately covered

Growth might be geared to an innovative = sales promotion or to a plant relocation of to the purchase of more cificent equipment There are numerous possibihiiics, cach requimnag is own stratcgy for im picmentation The problem for many small business people i to know all Ube condibons which must bc met (herr growth strategies are to be successful

The starting point asa Gelailed plan The retaaler, for cxample, should start by determining the saze of the market for Uhre acw lines of merchandise Sane of market

wilh cnable recatiste sales projections to be made which, in turn, will cnabic the retailer to determine

how much of the acw hacs should be | ordered how quanckty they can be turned aver

A market howeves ws

survey than Thc

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vtmply counting be acts

retailer needs to know what the competition is, what the margins will be, what in- ventory costs must be met, how much = advertising should be budgeted and so on. Its often difficult to know where to start or whether every aspect of a growth strategy has been adequately covered.

In such circumstances, the retailer (or any other small and medium _ business manager in a_ similar position) should seek outside advice -- from bankers and accountants, other professionals, trade and business organizations, suppliers and customers. Or application can be made to the Federal Business Development Bank = for CASE counselhng. This ts a key element in the broad

range of management services which the Bank offers to small and medium businesses. It was devised to help identify opportunities and to overcome = such problems as many small and medium businesses now face as they prepare to meet the challenges of new business growth.

Few entrepreneurs are skilled in every aspect of management. They may be strong in marketing but weak in budgeting and cash flow management. Or they may be strong in research and production but weak in marketing. The CASE program 1s a resource upon which entrepreneurs can draw, as required, for coun- selling in areas” of management tn which their own skills are hmited

TT A.E. LEPAGE |

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On June 15, we're delivering

money saving coupons

The first issue of the North Shore News Coupon Clipper distributed in oul newspaper on March 30th was an over whelming success

The advertisers In our first Coupon

(‘ipper proved that consumers tn North and West Vancouver are ready to buy when they recetve money scrving Coupons from local businesses

The second issue of our Coupon Clippet will be distilbuted in the June loth North Shore News

Once again there will be 55.0OO copies delivered to all of North and West Vancouvel

The advertising deadline is Wednesday May 25

Lets get together and talk about

how oul © Oupoon CTtpper can work for your business

Call me, Kevin Hayes 980-0511

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