10 Sep 2015

Montréal, September 10, 2015 – From September 10 to October 15, 2015, the crowdfunding website Ulule will take its team on tour to seven of the largest cities in Quebec (Sherbrooke, Granby, Québec City, Gatineau, Trois-Rivières, Lac-Mégantic and Montréal). The tour will enable Quebeckers to discover crowdfunding, meet and exchange with the entrepreneurial community, some of the future economy’s players, and, more broadly, Quebec’s creative community. In total, 1,700 kilometres will be travelled and seven events and hundreds of meetings will be held.

The objective is to have those involved in creative, innovative or community-minded projects to become aware of and, especially, understand the crowdfunding opportunities available. Close to 10,000 projects have been financed successfully since Ulule’s launch, representing more than $50M raised for 800,000 members in 164 countries. In addition to this international success, François Bédard, Ulule Canada’s Director, recalled the importance of the local dimension of crowdfunding: “Crowdfunding is also a type of local financing that creates momentum within geographical areas. Beyond financing, it’s a great way to communicate and test an idea. By launching the first Quebec Tour, we want to reach out to the public and to people working on creative projects, all the while living up to our motto: make good things happen!

At each step in the tour, as of 5:00 p.m., the public will be invited to roundtables, training sessions and networking cocktail events, so that project promoters, business founders and Ulule users can share their experience and exchange with participants on the keys to project success.

Partners

Ulule Canada’s main partner is the National Bank, and Raymond Chabot Grant Thornton is one of its sponsors: “For us, crowdfunding is an innovative way to encourage creativity and make developmental projects happen in our society. Quebec is crammed with talent, and our challenge as a community is to bolster the attainment of the full potential for growth for wealth creators, businesses and everyone who moves our society forward with their ideas and gives it an even greater outreach,” said Raymond Chabot Grant Thornton’s Vice-President, Marketing, Communications & Business Development, Pierre Leclerc.

Several regional partners will be hitting the road with Ulule:
Espace-Inc. (Sherbrooke), Granby Industriel, Vie Culture & Communautaire, Granby Mayor’s Office, and the Chambre de commerce de Granby (Granby), Morigo (Québec City), Créagora (Gatineau), IDE (Trois-Rivières), FNC & CEIM (Montréal) will be inviting Ulule and the community to emblematic locations in each city.

Tour Program

The event details and free registration are available on Eventbrite, by clicking on the following links:

For more information, please contact Ulule Canada’s Sarah Cacoub at 514-553-0180.

About Ulule

Founded in Paris in 2010, Ulule is a crowdfunding platform intended to give power back to creators, entrepreneurs, and makers the world over. The site has already enabled the financing of thousands of creative, innovative or community-minded projects around the world. Multilingual and multicultural, Ulule currently has offices in France, Spain and Canada.

How the site works is very simple: each project, presented free of charge, gets feedback from the Ulule team. If the project is accepted and put online, it is financed only if it reaches or surpasses its crowdfunding goal within a limited timeframe (45 days on average). With this all-or-nothing approach, project promoters are guaranteed to have a favourable response and truly able to acquire the means to accomplish their projects. Ulule gets a 5% commission (8% if you include technical and transaction costs) solely for projects that were successfully crowdfunded. If the project does not achieve its crowdfunding goal, the operation is considered a “draw”: the project promoters do not receive the amount requested and the support costs are not charged.

Based on this model, close to 10,000 projects have already been financed for a total of more than $50M CA, with a 67% success rate.

Website: http://www.ulule.ca
Real-time statistics updates: http://www.ulule.com/stats
Facebook page: http://www.facebook.com/ulule

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton has become a leader in the fields of assurance, tax, consulting services, and business recovery & reorganization. Its strength is based on a team of over 2,500 people, including some 230 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, help dynamic Canadian organizations unlock their potential for growth with over 4,300 people and some 140 offices across Canada. Grant Thornton International Ltd provides clients with the expertise of member and correspondent firms in more than 130 countries, with over 40,000 people.

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Media info and contact:
Sarah Cacoub
Ulule Canada
Tel.: 514-553-0180
sarahc@ulule.com

Sources:
Sarah Cacoub and
Francis Letendre
Senior Consultant, Public Relations
Raymond Chabot Grant Thornton
Tel.: 514-390-4201
letendre.francis@rcgt.com

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08 Sep 2015

“To get out of trouble, it is important to be aware that you have problems. This isn’t easy. (…) Other people often realize this before we do.” Marc Bergeron.

According to the data of the Office of the Superintendent of Bankruptcy, 1,690 Quebec companies went bankrupt in 2014. This is more than half (54.2%) of the number of commercial bankruptcies observed in Canada. Should we be worried?

An alarming situation? Marc Bergeron’s expert opinion

For Marc Bergeron, Partner and Vice-President, Recovery & Reorganization at Raymond Chabot Grant Thornton, a guest on the Argent channel on August 12, this situation is less alarming than one might think. The expert points out that the number of business bankruptcies is relatively stable over the past few years.

Marc Bergeron also mentions several factors that could explain the importance of the proportion of Quebec bankruptcies relative to total commercial bankruptcies in Canada. “We have a lot of SMEs in our economic fabric, we have a lot of entrepreneurship, and these may be among the factors contributing to this situation, especially when we know that some startups don’t make it through the first seven years.”

Having some difficult periods doesn’t mean you won’t succeed, the expert explains. He gives examples of several business personalities who had financial difficulties, Donald Trump, Pierre Péladeau, Luc Maurice and Alexandre Taillefer.

The warning signs of a business in trouble

To maximize your chances of success, it is essential to recognize the warning signs of a business in trouble. Marc Bergeron lists several warning signs, such as repeated deficits, liquidity problems or postponing payment of taxes. Find more information on factors that may lead to financial problems for your company at RaymondChabot.com.

“To get out of trouble, it is important to be aware that you have problems. This isn’t easy. (…) Other people often realize this before we do,” Marc Bergeron explains. This is why the expert recommends that every entrepreneur work with a “mini board of directors”, which will have the critical distance to recognize alarming signs soon enough and thus prevent critical situations.

The sooner you act, the more you will be able to implement a viable solution to set your activities back on course to profitability. If you are concerned about your company’s financial health, you could start by evaluating its condition with the tools available on RaymondChabot.com.

 

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08 Sep 2015

In an August 25 interview on the Argent channel, Éric Lebel, Recovery & Reorganization Partner at Raymond Chabot Grant Thornton, gives advice for managing your finances in expensive periods like the beginning of the new school year. He also talks about the different possible paths and the traps to avoid for families who haven’t been able to save this year.

The back-to-school period is especially stressful for parents who have to cover many expenses: school supplies, new fall clothing, daycare, etc. Not to speak of wanting to please their children, who are demanding the latest accessories. These expenses aren’t necessarily part of the budget, and the credit card becomes an escape hatch. What can you do in case of unplanned excess spending?

The credit card is a last resort

 “Ideally, you must budget how much this is going to cost and save for at least two or three months in advance,” Éric Lebel explains. For those who were unable to put money aside, the expert recommends using their line of credit first, if they have one. “The interest rate on the line of credit is much lower than the credit card interest rate,” he says.

Paying with a credit card doesn’t pose a problem if you are able to pay for 100% of your purchases the next month,” Éric Lebel explains. However, according to the latest CROP poll by Raymond Chabot Grant Thornton, 36% of Quebecers don’t pay their balance in full within 30 days.

Poor credit management: serious consequences

 People who don’t pay their credit card in full every month may take years to repay their entire debt, due to very high interest charges. “If I have $15,000 in credit cards, if the interest rate is 19% and I can save $250 a month to pay the card, it will take 7 years and 5 months to repay, and this will cost me $11,000 in interest! That’s a lot of money!” Éric Lebel points out. To know the real cost of your credit cards, use the online calculator available on RaymondChabot.com.

Poor credit card management can have other serious consequences. People who do not make the minimum payment within 30 days will see their credit score downgraded. “A poor credit record can hinder me in obtaining a home, a car, cell phone, and even rental housing or a job,” Éric Lebel explains.

Plan your budget and stick to it

 Good budget planning is necessary to avoid credit traps and prevent overindebtedness. Use our interactive tools to obtain an online diagnosis of your financial position and draw up your budget.

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02 Sep 2015

Granby, September 2, 2015 – Raymond Chabot Grant Thornton increases the number of professionals in its Granby office with the arrival of experts from the Robitaille & Bigras CGA firm. It is through a common desire to offer a service increasingly adapted to the region’s organizations and dynamic managers that the two firms have joined forces.

From now on, the dozen professionals from Robitaille & Bigras CGA, including Messrs Jacques Robitaille and Benoit Bigras, will occupy the Raymond Chabot Grant Thornton’s premises located at 35 Dufferin Street in Granby. “We are proud to welcome our new colleagues. Together, with a talented team of about fifty professionals, we are improving our service offer to support more effectively our wealth creators”, said the partner in charge of the Raymond Chabot Grant Thornton Granby office, Marc Legendre.

“Joining Raymond Chabot Grant Thornton was the perfect choice to support our growing customer base. By making our clients benefit from the range of services provided by the firm, we will contribute more to their success, and we are delighted with that”, concluded Jacques Robitaille.

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton has become a leader in the fields of assurance, tax, consulting services, and business recovery & reorganization. Its strength is based on a team of over 2,500 people, including some 230 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, help dynamic Canadian organizations unlock their potential for growth with over 4,300 people and some 140 offices across Canada. Grant Thornton International Ltd provides clients with the expertise of member and correspondent firms in more than 130 countries, with over 40,000 people.

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Source:

Francis Letendre
Senior consultant – Public relations
Raymond Chabot Grant Thornton
Tel.: 514 390-4201
letendre.francis@rcgt.com