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115atlanticbusinessmagazine.com | Atlantic Business Magazine

As Newfoundland and Labrador’s oil, gas and mining industries struggle with the economic downturn, some small and medium-sized businesses are finding ways to thriveBy Stephanie Porter

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Page:115.p1.pdfDate:16-04-20

116 Atlantic Business Magazine | May/June 2016

“These are demo units we’re making available,” says Collier of the company’s 4K system — the first underwater video gear at that resolution quality. “They want to use it, there’s nothing else like it, we want them to try it out … ultimately, we hope they’ll be clients of ours.”

SubC Imaging develops and sells underwater video, image, and lighting solutions to offshore and subsea markets, including the oil and gas, ocean sciences, fisheries and aquaculture, and aerospace and defence sectors. The six-year-old small business, currently at 18 employees, is based in Clarenville, Newfoundland.

And, at a time when much of the competition is downsizing, SubC Imaging is growing: adding new employees, serving clients in over 20 countries, developing and launching new technology, and opening a satellite office in St. John’s.

Collier says it’s precisely SubC’s tidy size that’s allowing it to thrive. “Because we’re smaller, it’s a lot easier for us to modify our existing products or come up with new products … A big company has a lengthy process to go through before any change is made.”

That nimbleness allows SubC to react quickly to trends and demands, and it’s just one factor in their success. Their market position also requires the company to continuously push their technology and quality forward: “We have to sell on how different and better

our products are …We do a ton of research and development. It’s something we enjoy doing, and we feel it’s necessary in order for us to thrive in any economy, but especially in an economy that isn’t as strong as sometimes.”

Creativity, flexibility, and a determination to stand apart are hallmarks of successful small- and medium-sized enterprises, which are, in turn, proving to be bright spots in the face of a dim economic landscape brought on by the downturn in Newfoundland and Labrador’s oil and mining industries.

“We don’t give enough credit, or pay enough attention to the smaller businesses,” says John Fisher, owner and operator of Fisher’s Loft, a 33-room/suite inn and restaurant in Port Rexton, Newfoundland, a two-and-a-half-hour drive from St. John’s.

Fisher reports that 2016 bookings have doubled over last year. Facing their busiest season in 20 years of operation, Fisher has hired additional staff for the upcoming tourism season.

One reason for the current spike is the state of the Canadian dollar, he says. Another is the inclination, driven by geopolitics and world events, toward tourist destinations considered safe, and off the beaten path. But taking advantage of those factors takes some savvy.

“Small businesses have to be quite clever,” Fisher muses. “Imagi-nation and creativity are very important.

“We can’t afford large advertising campaigns so we get involved with critical issues in the community and fuse that with the running of a local business. We make something ‘of place’ that sets us apart.”

In his case, that means partnering with local artists and artisans — locally-made furniture fills every room; original art (for sale) decorates the walls. A greenhouse and kitchen garden ensure local fare is served when possible.

Fresh off a phone call with the BBC, SubC Imaging

vice-president Ron Collier has good news: the British Broadcasting Corporation is going to trial one of his company’s newest cameras to shoot footage for its acclaimed Blue Planet series. He’s having similar discussions with National Geographic and the US. National Oceanic and Atmospheric Administration (NOAA) — high-profile organizations looking for the latest and best technology.

“ We don’t give enough credit, or pay enough attention to the smaller businesses.”

John Fisher, owner and operator, Fisher’s Loft


117atlanticbusinessmagazine.com | Atlantic Business Magazine

“All of these things communicate a set of values and ideals that I think contribute to why [Fisher’s Loft] is successful,” says Fisher. “The next big move will be to take the whole operation off-grid because people are really interested in the environment.”

It’s all on-trend and it works: the inn was noted as one of 15 places to stay in Canada by National Geographic’s Traveller magazine; it’s grown from a $27,000 bed and breakfast to taking in over $1.2 million and greeting some 10,000 visitors in 2015. Fisher turned down a lucrative offer to franchise Fisher’s Loft, not wanting to compromise the quality, sustain-ability, and uniqueness of the inn. “People are looking for an experience, and that’s what we offer,” he says.

Experience is also a mantra of Brent Smith, co-owner of the Newfoundland Chocolate Company with his wife, Christina Dove. After seven years in business, 2015 was the company’s biggest: It opened its first retail store outside of Newfoundland (in the MicMac Mall in Dartmouth, Nova Scotia), and its first café, on Signal Hill, St. John’s. New custom packaging and new recipes were launched, and business grew almost 70 per cent. The company was recently recognized at the St. John’s Board of Trade 2015

Business Excellence Awards, winning the Leader in Growth and Sales, Innovation Solutions, and Business Excellence (the top prize) categories.

Smith says 2016 will be just as dynamic. But “exceptional” chocolate and local ingredients, though attractive to consumers, aren’t enough to account for the company’s success.

“We’re not competing with Ganong or Lindt, we’re not selling a commodity — we’re selling an experience,” he says, describing the carefully designed, engaging and interactive retail outlets. “The store is our competitive advantage. How can we create an experience that’s more than a transaction, it’s a story? Newfoundlanders are great storytellers, and we have a story to tell. That’s what I think we do very well.”

Smith’s vision is to expand the Newfoundland Chocolate Company into a national brand. The time is right, he says, to do it.

“Now is a very inter-esting time,” Smith says, admitting that the provincial economic downturn has led him to focus more on external markets, including opening two more retail outlets in Nova Scotia in 2016. “But I feel good about chocolate, in that it’s generally a pretty reces-sion-proof product,

as an affordable luxury.“The name of the company

wasn’t accidental. That’s our vision: to represent Newfoundland and Labrador, and tell our story. I want people to associate great chocolate and amazing in-store experiences with Newfoundland…”

A dose of good timing hasn’t hurt. “That brand — Newfoundland — has evolved over the past 10 to 15 years. There’s a pride in the brand now. In the early days, the first couple of trade shows we did, we’d get the moronic comments: ‘Newfie chocolate?’ ‘What, is there codfish in it?’ But now the brand is associated with purity, honesty and resilience. And premium chocolate dovetails nicely with that.”

At 70 employees and growing, the Newfoundland Chocolate Company is considered a medium-sized business. Smith admits he misses some of the “entrepre-neurial agility” of being a smaller operation, but maintains the same services and values remain at the heart of the company.

“ Because we’re smaller, it’s a lot easier for us to modify our existing products or come up with new products.”

Ron Collier, VP, SubC Imaging

“ We’re not competing with Ganong or Lindt, we’re not selling a commodity — we’re selling an experience.”

Brent Smith, co-owner Newfoundland Chocolate Company (pictured below with his wife and co-owner, Christina Dove)


118 Atlantic Business Magazine | May/June 2016

“The basics you could depend on a generation ago, hearing ‘please’ and ‘thank you,’ that’s a rarity these days. To stand out, you don’t even have to be that good, you just have to be small and friendly. But then if you take it up a level, you get noticed.”

That’s an important point: it may not seem cutting-edge, but small- and medium-sized businesses are innovating by refocusing attention on their employees and their customer service. Attention to creating personal connections — whether it’s with a consumer taste-testing single-origin chocolate, a tourist booking a room and receiving a follow-up phone call, a major international broad-caster, or a client looking for custom video system — can make all the difference.

“When our clients call us or email us, they know they’re going to get a response,” says SubC’s Collier. “In fact, some of the other manufacturers are doing us a favour — clients have come to us, saying, ‘I’m just tired of not getting an answer.’ That can be our big break.”

Feeling a commitment and connection to Newfoundland and Labrador is another factor driving the determination to succeed.

“I’m very positive about the future for Newfoundland,” Smith says. “We’ve been through this stuff before and we’ll get through it again.” In fact, he sees an important role for his company, and others like it, right now.

“The business community needs to help. We’re on strategy here. We’re not hesitating, we’re growing. We’re pushing forward … we have a responsi-bility to not take our foot off the gas at this point in time, and to continue to build our business, our brand, and our province. It’s more important than ever.” •

FEEDBACK*[email protected]; a @AtlanticBus; @NLChocolateCo; @SubCImaging; #SmallStandsTall

310 Mountain RoadMoncton, NB Canada

(506) 858-7844

167 Water StreetSt. John’s, NL Canada

(709) 722-9432

[email protected]

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