Waterloo

I'd love to see an Agenda topic built around the following topic, written in typical Steve Paiken style ;)

The proposed Green Energy Act -- will it put a new face on the Ontario economy and what will the impact be on the Engineering community, already seemingly stretched due to the massive influx of infrastructure funding from all levels of government? Will Ontario's initiative drive changes on a national level? edited 21:58, 28 Mar 2009

Considering that Richard Florida is going to be in attendance I'd like to see a session on the Creative Communitees Subject.
There is so much suspicion of it by working People. The session would or Could run something like this

A) What is a Creative Community?

As an Add I wish to say that I am in complete agreement with RhondaLee. I am not sure that I've made all the correct links and whatever else I was supposd to do!
B) Is a creative Community a good thing or a not so good thing?
C) What do we need to have happen either to make it happen or eliminate the idea?

D) What do we do to get Politicians and Business people on our side of the issue?

I believe that I know the answers to all of these questions basically but the expansion and expression of these thoughts by others can only help me and ALL that are attending.

What is the Economic Future of a creative Community? edited 03:22, 29 Mar 2009

One of the concerns I have for small or startup businesses is around the issue of taxation, finance and education. For many the key to sustainability is managing cash flow.

While the governments (provincial and national) create funds and programs and projects, etc. that come and go for various business endeavours, few people/businesses can really keep track of these and only a few are eligible, or actually obtain these (the paper work and process is long and tedious), unless you are "already in the system" - kind of like social welfare.

IMHO, what is really needed is a consistent, efficient (for the business, not the government) and effective way for the government to assist a company (in a specific sector) to improve their cash flow and to have the necessary financial knowledge and support vis a vis CRA education instead of their standard approach to penalization.

I think most businesses want to honestly track and report their income, expenses etc but don't necessarily have the knowledge. And that knowledge vaccum leads to poor habits, poor practices and ultimately poor cash management which is the life-blood of businesses and the economy.

Proposed Solution - Why can't the gov't get CRA on board to support growing enterprises by providing financial **educational** audits - where people are taught the easiest, most efficient best practices for managing financial records. This could entitle a business to 3 educational audits in 5 years to learn how to properly take advantage of taxation policies and recording a company's financials, rather than waiting for the "dreaded audit" which is geared to penalizing business that may simply not understand how to do better.

I believe businesses want to contribute financially to a community and nation's economic growth. IMHO, CRA should take THAT viewpoint - instead of the "FBI/CIA-ish" view of "what-are-you-hiding-from-us" adversarial approach). This would actually help small growing businesses provide that transparency to their business transactions. It would help them get up to speed streamlining the record keeping required so it never was an issue in the life cycle of a business.

Yes, you say that is what an accountant is for, but ultimately the responsibility is with the business owner, so why not cut out the "middle-man". Why not invest in having CRA get rid of their wishy washy ever-changing and vague taxation policies that require "creative interpretations from accountants" and come up with an educational program that helps new and growing businesses establish their records such that they never have to worry about an audit?

Every business wants to succeed, so why not help them do so with real financial education that is simplified. The benefits to the economy are huge. Businesses want to employ people and pay taxes to support communities. The penalty system doesn't benefit anyone. The current call centres they have are about as useful and accessible (or not) as public health's which advise people to call 911 or make an appt with their doctor - "duh".

The PST has an educational program whereby they come to your business and go over some minor educational information, rules and provide necessary paperwork. I like this approach and I can see this being expanded to be more inclusive of all govt taxation to provide valuable and consistent taxation information to help businesses get off to a good financial start by learning to easily track and manage their finances.

They should think of businesses as their partners in growth and really the ones who are employing, or footing the bill, for the CRA and taxation staff.

New businesses shouldn't have to financially "re-invent the wheel" each time. Paperwork and record keeping shouldn't be the time consuming and hardest part to get going. And advising people to get an accountant (use an accounting software package) is about the same as public health telling everyone to just see a doctor or call 911 - it moves the responsibility.

If they want "good-defined" record keeping they should just spell it out and get every new business started on it within their first year (like immunizations), so that businesses can grow and succeed from the educational support, which will be an investment in the financial knowledge of businesses and the people in them.

In summary - having to focus on the tedious (and often little known) details required by CRA, hampers the creativity and innovation necessary to move the economy forward. For small businesses I think this should be streamlined to teach good habits and develop financial educational partnerships with new and growing businesses.

I am interested in discussing some of the above topics at AgendaCamp:

I think first of all a discussion is in order- What is the innovation economy? It's important to have 'conceptual clarity' as a starting point.

Immigration and the innovative economy:
New Canadians play a significant role in the high tech/ innovative sector, but there are barriers to their employment in their field of expertise, such as foreign credentials not recognized. How should we deal with these barriers? Also, does high skilled immigration lead to a brain drain away from their original countries? If so how can this be rectified?

Inequality and the innovative/knowledge economy- discussing the technology gap and what it means- how does inequality effect the knowledge economy and vice versa.

In light of RIM's lawsuit, are patent laws as they stand now good or bad for the knowledge economy? Joe Stiglitz in his book Making Globalization Work advocates reform.

One correction to a comment at the closing session. One person commented that there was no airline service from Ottawa direct to KW. In fact, Bearskin Airlines - www.bearskinairlines.com - provides three direct flights each business day (both ways) between Ottawa and KW with other weekend service. They currently use 19-seat Fairchild Metroliner aircraft. Additional airport information is at www.waterlooairport.ca