12 Jun 2014

Once again, a number of media outlets have called upon the expertise of Raymond Chabot Grant Thornton to dissect the key measures that were presented in the Quebec budget on June 4. As was the case in previous budgets, our firm’s professionals shared their observations with various members of the media to inform individuals and company managers of the fiscal and economic measures.

Raymond Chabot Grant Thornton is obviously proud to be able to inform its clients and the public quickly and efficiently about issues that will influence the course of the economic and fiscal activities of Quebec and Quebecers during the year ahead. In addition to the distribution of a tax bulletin and a press release once the lock-up was lifted, orchestrated by a team of about 15 professionals in taxation, communications and language services, our experts updated the various media outlets. Front and centre in these interviews were Réal Létourneau, Vice-President of the Eastern Townships region, and tax partners Sarah Phaneuf and Luc Lacombe. The first of these experts participated in the traditional round table organized by the newspaper, La Tribune (see the attached file), in the presence of other decision makers from the region, while the second shared her observations on June 5 on Radio-Canada’s radio program Écoutez l’Estrie.

As for Luc Lacombe, who attended the budget lock-up, he gave about 10 interviews to various Quebec radio stations and to the TV channel Argent:

  • 98.5 FM Montreal with radio host Paul Houde, broadcast on June 4 in the Greater Montreal area
  • Planète Radio 99.5 FM with host Patrick Bourget, aired on June 4 in the Saguenay
  • 101.5 FM with host Jean-François Routhier, aired on June 4 at Sainte-Marie-de-Beauce
  • Rouge FM 94.7 and NRJ 102.3 FM, same interview aired on the June 4 newscast in the Mauricie and Centre-du-Québec regions
  • ARGENT TV channel of the TVA Group with host François Gagnon, broadcast on June 5 throughout Quebec
  • O 97.3 FM Le meilleur de la musique with host Jason Caron, aired February 5 in the Chaudière-Appalaches, Estrie and Centre-du-Québec regions
  • Passion Rock 101.9 FM with host Marc Bossé, broadcast on June 5 in the Victoriaville region
  • Passion Rock 105.5 FM with host Sébastien Roy, broadcast on June 5 in the Chaudière-Appalaches region

This is coverage that is worthy of a major firm serving dynamic local individuals and companies. We thank all the professionals who care about sharing their expertise and who help the firm gain the recognition it deserves.

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03 Jun 2014

Transferring businesses to the succession: a major issue for the Québec economic and SME sustainabilityThe Board of Trade of Metropolitan Montreal today released a study produced in collaboration with Raymond Chabot Grant Thornton which, for the first time, unveils the major economic impacts that lie in wait for the Québec economy if the current SME owners do not have a climate more favourable to business transfers.

Over the next 10 years, the Québec economy will be subjected to real pressure related to the entrepreneurial deficit:

  • Between 5,700 and 10,000 Québec businesses could close their doors;
  • 79,000 to 139,000 jobs are at stake;
  • The projected economic losses fluctuate between $8.2 billion and $12 billion of GDP.

Given the importance of the issue taking shape for Québec’s economic future, Raymond Chabot Grant Thornton is calling for mobilization. Business people, citizens and political decision-makers must mobilize to offer our companies a favourable climate for business transfers!

To obtain the study produced under the leadership of Partners Guy Barthell and Éric Dufour, supported by their respective teams, visit the Board of Trade of Metropolitan Montreal website.

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28 May 2014

On May 21, 2014, Emilio B. Imbriglio, President and CEO of Raymond Chabot Grant Thornton, gave a talk to some 200 business people at the Omni Mont-Royal Hotel in Montréal during the Association des MBA du Québec conference.

Emilio shared some ideas that the firm believes are necessary to stimulate our economic growth, create jobs and increase our competitiveness.

“Our public debt is inhibiting our growth, and we need to act now,” he said, kicking off his talk. “The situation itself may be clear but the solutions are less so,” he continued. “Together, we need to provide Quebec with a solid foundation so that it can remain one of the most productive and prosperous societies in the world.”

He went on to say, “I can already hear you saying, ‘Sure, but how can we do that?’ I could never presume to have all of the answers, but I do have five mains ideas with specific measures, supported by fact.”

Here are Emilio’s ideas and accompanying measures to stimulate the economy:

1.  Encourage entrepreneurship through tax incentives

  • Make it fair from a tax point of view to sell a business, whether selling to family or foreign interests.
  • Hold a public consultation to measure the impact of reducing or eliminating corporate taxes for SMEs, and define clear rules without reducing the government’s tax base.

2.  Take advantage of export opportunities

  • Take advantage of the soon-to-be official free trade agreement with Europe to develop new markets. Canada will be the only country in the world with free access, baring a few exceptions, to the two largest markets on the planet. Including North American consumers, Quebec has a potential market of over 900 million people!

3.  Focus on innovation and growth-generating projects

  • Create an innovation tax credit that complies with international economic agreements to help SMEs increase their technology investments and fast track their growth.
  • Take advantage of the MUHC, CHUM projects and recently launched CRCHUM project, which are major draws for research organizations from the life science and health sectors, to develop a thorough and structured government strategy to attract talent and investments.

4.  Train and attract talent more effectively

  • Start teaching basic concepts at the high school level about credit, public debt, the cost of public services, and the importance of creating a budget.
  • Improve the process for selecting and integrating immigrants by creating other agreements, such as the France-Quebec agreement, to recognize the qualifications of professionals from other regions.

5. Exploit natural resources respectfully and sustainably

  • Develop a framework that supports long-term investments and infrastructures, specifically in terms of ports and railways.
Emilio B. Imbriglio

Emilio B. Imbriglio

Influence and Leadership

Once again, this conference demonstrates the influence and leadership of the firm and its President and CEO. According to Les Affaires, Raymond Chabot Grant Thornton is ranked first among Quebec accounting firms and is actively working to defend the economic interests of Quebec and beyond, as reported recently in La Presse (article in French).

To learn more about the conference, read an article from Les Affaires.

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27 May 2014

In the “Entrevue 60 secondes” column of the May 24 edition of Les Affaires, Emilio B. Imbriglio, President and CEO of Raymond Chabot Grant Thornton, laid out some measures recommended by the firm to stimulate economic growth. These ideas were also presented to an audience of over 200 people on May 21 at the Association des MBA du Québec.

Here are some of the ideas Mr. Imbriglio presented: review corporate taxation, improve assistance to innovation, and encourage investment in Montreal’s healthcare clusters, where over $8 billion has been invested.

Read the article in Les Affaires