30 Sep 2019

For almost two decades, Raymond Chabot Grant Thornton has been collaborating to recognize Quebec business talent in connection with the Mercuriades of the Fédération des chambres de commerce du Québec (FCCQ).

This year marks the 40th anniversary of the Mercuriades. Our Firm will be presenting the Mercure Entrepreneuriat Raymond Chabot Grant Thornton once again.

This award recognizes two businesses, one in the SME category and one in the large enterprise category, for implementing a winning growth strategy, developing a succession plan or achieving a successful intergenerational transfer. SMEs and large enterprises are invited to submit an application.

To learn more about the different categories, including the Mercure Entrepreneuriat, click here.

Submit your application (free registration) before December 18, 2019 on the FCCQ Mercuriades website.

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26 Sep 2019

The Le Devoir newspaper recently published an interesting article on business transfers that refers to our firm’s expertise in the matter.

Reporter Gérard Bérubé writes that, in the coming years, there will be a significant increase in the number of business transfers. However, many of the them could be doomed to failure because they neglect to take into consideration one crucial component: the generational gap between buyers and sellers.

Most businesses will be transferred to a family member, employee or manager or a third party who, generally, is younger than the seller.

According to our firm and our National Business Transfer Leader and Regional Vice-President: “People often forget to consider the difference in values, ways of doing things and sometimes diverging interests between generations: it’s a key issue, because there is a wide generational gap between Quebeckers born before 1965 and those born after.”

The former have a more Cartesian vision, while the latter consider work in terms of their contribution to the business rather than the number of hours worked.

Our firm goes on to say in the article: “Gen Xers and Gen Yers are not intimidated by authority, unlike their elders. They’ve been used to working in teams right from a young age, they therefore prefer a collective management and decision-making approach. In fact, it’s been noted that on average, three people take over from one seller.”

To plan your succession and efficiently and successfully pass on the torch, consult our management consulting experts. They can guide you through each step of the transfer planning and process.

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24 Sep 2019

SHERBROOKE, September 24, 2019 – Once again this year, Raymond Chabot Grant Thornton and the Grande Virée Artistique joined forces to celebrate the artistic talent of young people in the Sherbrooke area.

The Claude-Métras prize was awarded last night at an event held in Raymond Chabot Grant Thornton’s regional office to recognize the next generation’s artistic talent. Sherbrooke CEGEP student and emerging artist, Elizabeth Proteau-Paradis, won a $500 bursary.

This year, 26 students from seven local schools submitted 41 works of art for the Prix Claude-Métras, 20 of which were exposed at the Raymond Chabot Grant Thornton Sherbrooke office.

“Promoting our young people’s works of art is a way to showcase the next generation’s creativity, which contributes to our communities’ vitality. It’s important to highlight our young people’s outstanding contribution, particularly in the arts, and the business community is an excellent promotional lever,” Raymond Chabot Grant Thornton Eastern Townships’ Vice-President, Mr. Guy Fauteux, stated.

For the occasion, the jury also highlighted the talent of two other artists from different age groups, and the visitors were invited to vote for their favourite work of art, thuw rewarding three young artists with a $100 bursary each:

  • 12-15 age group was awarded to Émilie Hamel (Mitchell high school) for an acrylic painting;
  • 16-20 age group was awarded to Zeïne Kachroud (Bromptonville high school) for a photograph;
  • 20-25 age group was awarded to Amélie Hébert (Sherbrooke CEGEP) for a mixed medium painting.

The visitors’ favourite award was presented ex aequo to Coralie Lacharité for Capteur d’âme and one to Maina Lessard for Orijin (both Bromptonville high school students).

“Our collaboration with the business community is important, it allows us to promote artistic creation in unique and non-traditional venues. We’re proud to continue our association with Raymond Chabot Grant Thornton, a leading organization that knows how to encourage art and artists,” the president of La Grande Virée Artistique de Sherbrooke, Nancy Asselin, added.

Prix Claude-Métras 2019

About Raymond Chabot Grant Thornton

Raymond Chabot Grant Thornton is a professional services firm dedicated to the success of organizations and their leaders since 1948. The firm’s advisors are committed to helping clients thrive by obtaining a deep understanding of what is important to them, their business and their industry. This knowledge, combined with a team of motivated and talented professionals help accelerate growth.

A Quebec and Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, Raymond Chabot Grant Thornton boasts more than 2,600 professionals, including approximately 200 partners, working in over 100 offices across the province of Quebec and in the Ottawa and Edmundston regions.

Together with Grant Thornton LLP, another Canadian firm, and the Grant Thornton global organization, our global footprint spans across more than 135 countries with over 53,000 people who provide real insight, a fresh perspective and agility to keep clients moving ahead.

About the Grande Virée Artistique de Sherbrooke

The Grande Virée Artistique was created in 2002 by a group of provincially and nationally recognized Sherbrooke artists. The summer event takes place over a ten-day period from the end of June to early July in the six Sherbrooke boroughs. It showcases the talent of our local artists in both visual arts and crafts. Since its creation, the Grande Virée Artistique has featured over a hundred artists in Sherbrooke’s cultural community. It is an important event for art lovers, which allows them to discover totally different worlds, learn different techniques and knowhow and have a personal exchange with the artists.

Source:

Francis Letendre
Head – Public Affairs
Raymond Chabot Grant Thornton
Tel.: 514-390-4201
Cell.: 514-554-1685
[email protected]

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23 Sep 2019

The enthusiasm for Bitcoin and dramatic increase in its value in 2017 has proven to be very attractive to cybercriminals, who took advantage of investors’ lack of knowledge to hack them.

Cryptocurrencies have in fact shown to have serious security and governance flaws. Other cybercurrency risks have also been exposed: “Managing and handling cryptocurrencies is risky for people,” says Louis Roy, Assurance Partner and President of Catallaxy, subsidiary of Raymond Chabot Grant Thornton.

“For example, if you lost your private key, you would no longer have access to your assets. This isn’t like misplacing your debit card, which can easily be replaced.”

Many investors keep their assets as cryptocurrencies on their cellphone. In addition to the risk of losing their assets, they could be the target of cyberattacks. Investors must therefore be even more vigilant, especially when it comes to phishing scams.

Some investors rely on an intermediary to manage their cryptocurrencies.

“In some cases, the loss of assets is not due to an attack, but rather to a management or fraud issue,” Roy adds.

Recently, the suspicious death of the company founder resulted in more than $250M in losses for the cheated investors.

Roy questions: “How can you explain that a company leader had millions of his clients’ dollars all to himself on his personal computer? To improve cybersecurity in the cryptocurrency field, we’ll have to stimulate technological innovations and better inform users, but there are regulatory framework issues as well.”

You can read the entire article online (for subscribers only).

Are you interested in understanding blockchain technology and applying it in your organization? Our team of experts can help.