BC Business
Plus, why Chinese investors like Canadian clean tech, what CPAs say about business in B.C., why mechanical watches keep on ticking and what celebrity endorsements are worth
Former NBA player Steve Nash wants his name removed from 21 fitness facilities around B.C. A notice of civil claim filed in B.C. Supreme Court alleges there was a breach of contract between his company, B&L Holdings Ltd., and SNFW Fitness B.C. Ltd., the company operating the facilities. Since October 2014, SNFW has operated the fitness facilities throughout B.C. under the name Steve Nash Fitness World yet Steve Nash has had no involvement with facilities, according to the writ, nor received compensation from SNFW for the use of his name. (Vancouver Sun)
Chinese investors prefer Canadian clean tech to natural resources, according to the chairman and CEO of ChinaEquity, one of the country’s most successful independent venture capital firms. He is part of a delegation from the elite China Entrepreneur Club, which is touring Canada to get a closer look at potential investments and met with Prime Minister Justin Trudeau on Tuesday. (CBC)
Attracting and retaining skilled labour is the number one challenge for business success in B.C., mainly due to the high cost of living, according to a survey of B.C.’s CPAs. Other challenges flagged in the latest Business Outlook Survey from the Chartered Professional Accountants of British Columbia were government red tape, ability to raise capital, personal taxation and consumer confidence levels. On a positive note, 82 per cent of CPSs surveyed think B.C.’s economy will grow at the same pace or faster than the Canadian average over the next two years. (CPABC)
Why are mechanical watches more popular than ever? “For those born into the digital age, the prospect of making a watch start may seem as distant and implausible as crank-starting a car or changing the ribbon on a typewriter,” writes Simon Garfield, author of a new book on the subject. “But it is precisely this process—the end of a feat of infinitely intricate human engineering—that appeals to the watch connoisseur. It also explains why a fine watch costs so much.” (The Guardian)
How much are celebrity endorsements worth? Quite a lot to the celebrities. According to Captiv8, an analytics platform that connects brands to social media “influencers,” someone with three million to seven million followers can charge, on average, $187,500 for a post on YouTube, $93,750 for a post on Facebook and $75,000 for a post on Instagram or Snapchat. (The Economist)