There is a common misconception that business and support for the community are divergent themes. One brings forth the notion of profit, while the other is viewed in the context of not-for-profit. Yet, for both businesses and communities to truly thrive they have to be complimentary and respectful of each other.
A vibrant community not only exists on the basis of the tax revenues that go into things like infrastructure, schooling, medical care and social services. We all know that fiscal management has not been sound enough to ensure these areas and more are provided for in an adequate fashion. The lack of investment back into the community has led to a general feeling of discontent, leaving many individuals and families feeling that they have been left behind. At the same time, fiscal management has been skewed against the development and viability of small business and, given that this sector is responsible for the majority of employment across this country, the negative influence of policy is indirectly felt in the community.
Fortunately, this region of the province has been blessed with strong family businesses which, despite challenges from policy, have managed to flourish and grow. In addition, we continue to see start-up businesses in this region’s traditional industries and also in emerging ones. I recently attended a meeting of the Peterborough Region Angel Network and was amazed at the businesses that had been created in the area, fueled by talent young and old. The innovations developed will not only serve individuals and communities across the country, but will generate employment here at home.
And this is where the real connect of business and community starts. By supporting local businesses, the community helps invigorate goods and service production in our region. In return, businesses help provide viable jobs and out the return on capital that business owners receive, they give back to the community in all those areas which are not adequately provided for by government. This is why we have made community involvement a key pillar at the Pyle Group and across Scotia Wealth Management. Rather than being divergent, businesses and communities share a symbiotic relationship.
Andrew Pyle, Branch Manager, Senior Wealth Advisor and Portfolio Manager
111 Hunter Street West, 2nd Floor, Peterborough