Working at the Montreal office of video game maker Ubisoft.CHRISTINNE MUSCHI
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Government incentives big attraction
Quebec has become a preferred destination for some of the hottest videogame makers to set up shop, thanks to government incentives coming their way, reports Reuters in this piece.
Companies ranging from Electronic Arts to Ubisoft have been drawn to the province as a result of a refundable tax credit that subsidizes 37.5 per cent of a videogame company's payroll. And that's not all: There are more credits for companies that make French versions of their games, the piece reports.
That's had a big impact: citing economic development agency Invest Quebec, Reuters reports that 86 companies and 8,236 jobs have moved to Quebec as a result of the program, on which Quebec spent $100-million last year, up from $83-million in 2009.
Major global game manufacturer Ubisoft, maker of Assassin's Creed, has become the leading video game employer in Montreal, Reuters reports, with 2,100 developers working in the city.
Electronic Arts, the second-biggest U.S. videogame company, now has 750 employees in Montreal. And THQ, the California-based maker of "WWE Smackdown vs. Raw" videogame, has become one of the newest arrivals, recently hiring 145 new employees, with plans to hire another 100 every year for the next five years, according to Reuters.
The company was drawn by the tax incentives -- and local talent, and there's been some poaching going on, Reuters reports.
The province first set aside the money in 1996 as part of its effort to move Quebec from a manufacturing economy to a new economy, and now it's paying off big-time.
"There's a buzz right now, just like how Hollywood was the place to make movies in the 1920s," Charles Jolicoeur, a coordinator at Invest Quebec, told Reuters.
U.S. workers want to be entrepreneurs
More than a third of Americans believe that the spirit of the U.S. workforce is broken. And that may be one reason why more than three-quarters -- 77 per cent -- of U.S. workers who are not already self-employed would leave their current job to become an entrepreneur, according to a new survey from insurer Aflac.
Being able to set their own hours, spend more time with family and friends, avoid office politics and the daily commute were some of the reasons they gave for the desire to become an entrepreneur, according to the online survey of 2,200 U.S. adults, which was part of the 2011 Aflac WorkForces Report.
Protect customers over profitability
Nearly half -- 47 per cent -- of small businesses would rather reduce their company's profitability than raise prices and risk losing customers, according to a survey of 720 Canadian small business owners.
To control their costs, 52 per cent would reduce overhead costs in general, 48 per cent would become more stringent about accounts receivables to improve cash flow, and 36 per cent would reduce travel and entertainment budgets. Just 20 per cent would reduce perks for customers, 18 per cent would cut employee perks and 12 per cent would reduce staff wages or benefits, according to the quarterly American Express Small Business Monitor.
A main reason not to increase prices in response to rising costs is the need to stay competitive, 38 per cent said. And 15 per cent said they would not raise prices because they believe customers wouldh't understand or they would lose sales.
Despite tougher times, nearly three-quarters -- 74 per cent -- said they believe their companies are financially flexible enough to weather another recession. Nearly half-- 47 per cent -- reported an improvement in their business' current financial position, up from 33 per cent in the last quarter. And the proportion willing to take risks today also rose, to 28 per cent from 22 per cent three months ago.
EVENTS AND KEY DATES
Doing business in Russia
The Canada Eurasia Russia Business Association has a number of events coming up. Among them, on Sept. 7, it will hold a reception in Calgary that will talk about new processes for obtaining a Russian visa and a recent success story on entering the market; on Sept. 19, an event in Vancouver will look at doing business in Russia and Kazakhstan; and on Sept. 22 in Toronto, there will be an event on investing in Russia, looking at facts and myths, risks and opportunities. For more information, check here.
Help draw tourists to Canada
The Canadian Tourism Commission is looking for travel businesses that have the offerings to help lure tourists to Canada. It has launched its inaugural "Signature Experiences Collection" comprising 48 Canadian tourism enterprises that deliver the experiences it believes its targeted high-spending international travellers want in a vacation destination. Now it wants more such attractions, and will reopen applications to more tourism businesses that want to participate between Nov. 1 and Dec. 1. For more details, click here.
EDITOR'S PICKS FROM REPORT ON SMALL BUSINESS
Seven reasons not to work from home
The commute no further than down the stairs may be tempting, and so is the extra office rent that doesn't have to be paid -- but columnist John Warrillow says the days he "spent working from home were the least enjoyable and productive." Here, he offers seven reasons to stop working from home.
FROM THE ROSB ARCHIVES
More insights into entrepreneurs
What makes a great entrepreneur? Is running a successful business a skill you're born with, or is it one you can learn? Over the course of three columns, guest contributors Michael Wade and Mark Arnason tried to answer those questions. Click for part one, part two and part three.
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