Business opportunities still abound in Hong Kong - Channel NewsAsia

HONG KONG: German-born Allan Zeman was drawn to the opportunities that the Far East had to offer back in the 70s, starting off small with a trading company.

Today, the self-made property magnate carries a Chinese passport, and is a local delegate to the National People's Congress of China.

But he is more popularly known as the father of Lan Kwai Fong, the city's best known night spot.

Mr Zeman, now chairman of Lan Kwai Fong Holdings, believes that today's Hong Kong still provides opportunities for those who want to make it big.

"Hong Kong is an international marketplace. People from all over the world come here to do business. And so in my mind, I think that Hong Kong will always be an opportunity for people who are creative, able to think ahead, who can come up with a product that's a little different. If you're one of those categories, there's always opportunity," he said.

In 2004, Mr Zeman was given the opportunity to revamp local attraction Ocean Park, in light of Hong Kong Disneyland's impending opening.

He focused on the educational and conservational aspects of the Ocean Park and, tapping his Lan Kwai Fong experience, gave people new experiences.

Today, Ocean Park is the city's top tourist attraction.

"Hong Kong needs to keep re-inventing itself. There's a lot of competition now for Hong Kong, as you say, Singapore, Macau, Hengshan Island where there's a new aquarium opening up, Shanghai Disney," Mr Zeman said.

"I've always said that competition makes you better. I never worry about competition. As long as you're providing a good experience for your guests, your customers, they'll keep coming back."

Mainland tourists are coming back by the droves.

Hong Kong is now less a gateway to cheap mainland factories and more a playground for wealthy Chinese consumers.

Last year, a record 28 million mainland tourists visited the territory, spending at average of US$1,500 per stay.

The retail boom caused by tourist arrivals in recent years has pushed rents to record levels. In Causeway Bay, the city's busiest shopping district, retail space commands average rents second only to New York's Fifth Avenue.

Douglas Young co-founded of Goods Of Desire (GOD), an emporium of lifestyle products, just a year before the 1997 British handover of Hong Kong.

"Hong Kong has always been a very expensive place to do business," he said. "That part hasn't changed, but I think the situation probably has gotten worst now.

"I probably wouldn't be able to start GOD today because the entry barrier has just been lifted so high. I think the problem with companies like ours, being private and local, without big funding, is that we simply don't have the budget to promote ourselves "

Trained as an architect, Mr Young has helped to put Hong Kong on the design map by taking inspiration from the city's culture, past and present.

With five stores in the city, GOD is expanding into Singapore with plans for more stores on the mainland.

- CNA/wm

View the original article here

Business opportunities still abound in Hong Kong

HONG KONG: German-born Allan Zeman was drawn to the opportunities that the Far East had to offer back in the 70s, starting off small with a trading company.

Today, the self-made property magnate carries a Chinese passport, and is a local delegate to the National People's Congress of China.

But he is more popularly known as the father of Lan Kwai Fong, the city's best known night spot.

Mr Zeman, now chairman of Lan Kwai Fong Holdings, believes that today's Hong Kong still provides opportunities for those who want to make it big.

"Hong Kong is an international marketplace. People from all over the world come here to do business. And so in my mind, I think that Hong Kong will always be an opportunity for people who are creative, able to think ahead, who can come up with a product that's a little different. If you're one of those categories, there's always opportunity," he said.

In 2004, Mr Zeman was given the opportunity to revamp local attraction Ocean Park, in light of Hong Kong Disneyland's impending opening.

He focused on the educational and conservational aspects of the Ocean Park and, tapping his Lan Kwai Fong experience, gave people new experiences.

Today, Ocean Park is the city's top tourist attraction.

"Hong Kong needs to keep re-inventing itself. There's a lot of competition now for Hong Kong, as you say, Singapore, Macau, Hengshan Island where there's a new aquarium opening up, Shanghai Disney," Mr Zeman said.

"I've always said that competition makes you better. I never worry about competition. As long as you're providing a good experience for your guests, your customers, they'll keep coming back."

Mainland tourists are coming back by the droves.

Hong Kong is now less a gateway to cheap mainland factories and more a playground for wealthy Chinese consumers.

Last year, a record 28 million mainland tourists visited the territory, spending at average of US$1,500 per stay.

The retail boom caused by tourist arrivals in recent years has pushed rents to record levels. In Causeway Bay, the city's busiest shopping district, retail space commands average rents second only to New York's Fifth Avenue.

Douglas Young co-founded of Goods Of Desire (GOD), an emporium of lifestyle products, just a year before the 1997 British handover of Hong Kong.

"Hong Kong has always been a very expensive place to do business," he said. "That part hasn't changed, but I think the situation probably has gotten worst now.

"I probably wouldn't be able to start GOD today because the entry barrier has just been lifted so high. I think the problem with companies like ours, being private and local, without big funding, is that we simply don't have the budget to promote ourselves "

Trained as an architect, Mr Young has helped to put Hong Kong on the design map by taking inspiration from the city's culture, past and present.

With five stores in the city, GOD is expanding into Singapore with plans for more stores on the mainland.

- CNA/wm

View the original article here

Still opportunities to cash in on Murdoch magic

Sorry, I could not read the content fromt this page.Sorry, I could not read the content fromt this page.

View the original article here

Business opportunities still abound in Hong Kong - Channel NewsAsia

HONG KONG: German-born Allan Zeman was drawn to the opportunities that the Far East had to offer back in the 70s, starting off small with a trading company.

Today, the self-made property magnate carries a Chinese passport, and is a local delegate to the National People's Congress of China.

But he is more popularly known as the father of Lan Kwai Fong, the city's best known night spot.

Mr Zeman, now chairman of Lan Kwai Fong Holdings, believes that today's Hong Kong still provides opportunities for those who want to make it big.

"Hong Kong is an international marketplace. People from all over the world come here to do business. And so in my mind, I think that Hong Kong will always be an opportunity for people who are creative, able to think ahead, who can come up with a product that's a little different. If you're one of those categories, there's always opportunity," he said.

In 2004, Mr Zeman was given the opportunity to revamp local attraction Ocean Park, in light of Hong Kong Disneyland's impending opening.

He focused on the educational and conservational aspects of the Ocean Park and, tapping his Lan Kwai Fong experience, gave people new experiences.

Today, Ocean Park is the city's top tourist attraction.

"Hong Kong needs to keep re-inventing itself. There's a lot of competition now for Hong Kong, as you say, Singapore, Macau, Hengshan Island where there's a new aquarium opening up, Shanghai Disney," Mr Zeman said.

"I've always said that competition makes you better. I never worry about competition. As long as you're providing a good experience for your guests, your customers, they'll keep coming back."

Mainland tourists are coming back by the droves.

Hong Kong is now less a gateway to cheap mainland factories and more a playground for wealthy Chinese consumers.

Last year, a record 28 million mainland tourists visited the territory, spending at average of US$1,500 per stay.

The retail boom caused by tourist arrivals in recent years has pushed rents to record levels. In Causeway Bay, the city's busiest shopping district, retail space commands average rents second only to New York's Fifth Avenue.

Douglas Young co-founded of Goods Of Desire (GOD), an emporium of lifestyle products, just a year before the 1997 British handover of Hong Kong.

"Hong Kong has always been a very expensive place to do business," he said. "That part hasn't changed, but I think the situation probably has gotten worst now.

"I probably wouldn't be able to start GOD today because the entry barrier has just been lifted so high. I think the problem with companies like ours, being private and local, without big funding, is that we simply don't have the budget to promote ourselves "

Trained as an architect, Mr Young has helped to put Hong Kong on the design map by taking inspiration from the city's culture, past and present.

With five stores in the city, GOD is expanding into Singapore with plans for more stores on the mainland.

- CNA/wm

View the original article here

W&T Offshore CEO believes Gulf still holds opportunities

W&T Offshore CEO believes Gulf still holds opportunities

There are still many business opportunities in the Gulf of Mexico even as companies target other areas for investment, said Tracy Krohn, founder, chairman and CEO of W&T Offshore. "I don't give a damn if it's oil or gas as long as we make money," Krohn said. "The Gulf of Mexico will continue to be a focus for us, but we will continue to look for opportunities onshore as well."

Share This news summary appeared in API SmartBrief on 06/29/2012
Click here to view the full issue.

View the original article:
Times-Picayune (New Orleans), The

View the original article here

Business opportunities still abound in Hong Kong - Channel NewsAsia

HONG KONG: German-born Allan Zeman was drawn to the opportunities that the Far East had to offer back in the 70s, starting off small with a trading company.

Today, the self-made property magnate carries a Chinese passport, and is a local delegate to the National People's Congress of China.

But he is more popularly known as the father of Lan Kwai Fong, the city's best known night spot.

Mr Zeman, now chairman of Lan Kwai Fong Holdings, believes that today's Hong Kong still provides opportunities for those who want to make it big.

"Hong Kong is an international marketplace. People from all over the world come here to do business. And so in my mind, I think that Hong Kong will always be an opportunity for people who are creative, able to think ahead, who can come up with a product that's a little different. If you're one of those categories, there's always opportunity," he said.

In 2004, Mr Zeman was given the opportunity to revamp local attraction Ocean Park, in light of Hong Kong Disneyland's impending opening.

He focused on the educational and conservational aspects of the Ocean Park and, tapping his Lan Kwai Fong experience, gave people new experiences.

Today, Ocean Park is the city's top tourist attraction.

"Hong Kong needs to keep re-inventing itself. There's a lot of competition now for Hong Kong, as you say, Singapore, Macau, Hengshan Island where there's a new aquarium opening up, Shanghai Disney," Mr Zeman said.

"I've always said that competition makes you better. I never worry about competition. As long as you're providing a good experience for your guests, your customers, they'll keep coming back."

Mainland tourists are coming back by the droves.

Hong Kong is now less a gateway to cheap mainland factories and more a playground for wealthy Chinese consumers.

Last year, a record 28 million mainland tourists visited the territory, spending at average of US$1,500 per stay.

The retail boom caused by tourist arrivals in recent years has pushed rents to record levels. In Causeway Bay, the city's busiest shopping district, retail space commands average rents second only to New York's Fifth Avenue.

Douglas Young co-founded of Goods Of Desire (GOD), an emporium of lifestyle products, just a year before the 1997 British handover of Hong Kong.

"Hong Kong has always been a very expensive place to do business," he said. "That part hasn't changed, but I think the situation probably has gotten worst now.

"I probably wouldn't be able to start GOD today because the entry barrier has just been lifted so high. I think the problem with companies like ours, being private and local, without big funding, is that we simply don't have the budget to promote ourselves "

Trained as an architect, Mr Young has helped to put Hong Kong on the design map by taking inspiration from the city's culture, past and present.

With five stores in the city, GOD is expanding into Singapore with plans for more stores on the mainland.

- CNA/wm

View the original article here

Business opportunities still abound in Hong Kong

HONG KONG: German-born Allan Zeman was drawn to the opportunities that the Far East had to offer back in the 70s, starting off small with a trading company.

Today, the self-made property magnate carries a Chinese passport, and is a local delegate to the National People's Congress of China.

But he is more popularly known as the father of Lan Kwai Fong, the city's best known night spot.

Mr Zeman, now chairman of Lan Kwai Fong Holdings, believes that today's Hong Kong still provides opportunities for those who want to make it big.

"Hong Kong is an international marketplace. People from all over the world come here to do business. And so in my mind, I think that Hong Kong will always be an opportunity for people who are creative, able to think ahead, who can come up with a product that's a little different. If you're one of those categories, there's always opportunity," he said.

In 2004, Mr Zeman was given the opportunity to revamp local attraction Ocean Park, in light of Hong Kong Disneyland's impending opening.

He focused on the educational and conservational aspects of the Ocean Park and, tapping his Lan Kwai Fong experience, gave people new experiences.

Today, Ocean Park is the city's top tourist attraction.

"Hong Kong needs to keep re-inventing itself. There's a lot of competition now for Hong Kong, as you say, Singapore, Macau, Hengshan Island where there's a new aquarium opening up, Shanghai Disney," Mr Zeman said.

"I've always said that competition makes you better. I never worry about competition. As long as you're providing a good experience for your guests, your customers, they'll keep coming back."

Mainland tourists are coming back by the droves.

Hong Kong is now less a gateway to cheap mainland factories and more a playground for wealthy Chinese consumers.

Last year, a record 28 million mainland tourists visited the territory, spending at average of US$1,500 per stay.

The retail boom caused by tourist arrivals in recent years has pushed rents to record levels. In Causeway Bay, the city's busiest shopping district, retail space commands average rents second only to New York's Fifth Avenue.

Douglas Young co-founded of Goods Of Desire (GOD), an emporium of lifestyle products, just a year before the 1997 British handover of Hong Kong.

"Hong Kong has always been a very expensive place to do business," he said. "That part hasn't changed, but I think the situation probably has gotten worst now.

"I probably wouldn't be able to start GOD today because the entry barrier has just been lifted so high. I think the problem with companies like ours, being private and local, without big funding, is that we simply don't have the budget to promote ourselves "

Trained as an architect, Mr Young has helped to put Hong Kong on the design map by taking inspiration from the city's culture, past and present.

With five stores in the city, GOD is expanding into Singapore with plans for more stores on the mainland.

- CNA/wm

View the original article here

Why We're Still Talking About Small Business - Huffington Post

President and CEO, ACCION U.S. Network

Taking a look at some of my past articles on this site, I am struck by how much has changed and how much has stayed the same: the importance of entrepreneurship, the impact small businesses can have on nationwide job creation and the slow but steady economic recovery in the U.S.

Today, I want to come back to entrepreneurship and small business growth.

Last week, the NYSE Big StartUp was announced and, through this initiative, three nonprofit partners are collectively forming an eco-system to support small business growth and job creation: Accion, Start-Up America and Entrepreneurs' Organization.

The theme: it's time for big business to help small businesses generate jobs. Through a fund called the Accion-NYSE Job Growth Fund, corporate donations can be transformed into business loans. In addition, those who have an idea strong enough to start a business and those whose businesses are poised to make a significant leap forward will find events, networking opportunities and mentorship to help them succeed, along with a platform for businesses both large and small to provide opportunities to volunteer, offer in kind services and join hands.

Why are we still talking about small businesses? Of the 27.8 million businesses in the U.S., 91 percent have fewer than five employees. These businesses have been the largest net contributor of new jobs to the U.S. economy in the past 15 years and collectively employ 50 percent of all private sector employees. Unfortunately, small business job growth was essentially flat in 2011. The demand for loan capital for small businesses is at an all-time high but access to credit remains seriously challenged, particularly for businesses of this size.

Now is precisely the time for us to accelerate our pace of job creation through more action. And we must focus on the smallest of businesses to make the largest impact. Microenterprise is key to generating employment opportunity for hundreds of thousands across the United States, and providing access to capital and key technical support to these entrepreneurs is vital to economic recovery.

Partnering with leading companies and identifying unique and powerful ways to impact change can be a dynamic path for a sustainable impact -- both across the country and directly on the local level. There are roles we can all play in this effort and we must leverage our collective expertise to be efficient, innovative and successful in creating the right partnerships around the country.

As the Big StartUp starts up, we can move words to action and support small businesses as they seek to grow with capital and meaningful networking and learning opportunities.

View the original article here

California Redevelopment Agencies Are a Thing of the Past but Opportunities Still Abound

Wall Street Week Ahead: Last-minute shopping could lift stocksReuters

Portfolio managers will be doing some last-minute shopping for winners from the big stock market rally as they …

View the original article here

Davyd Jones still chasing NFL opportunity - Star-Press

MUNCIE -- Among the many people put out by the National Football League's lockout last year were the undrafted college football players who sought opportunities at the professional level.

That group of street free agents was among the lowest priority for NFL executives as they scrambled to sign players during the brief window between the time the lockout was settled and training camps began.

Davyd Jones felt the pinch. The Central High School product completed his career as a linebacker at Ball State in the 2010 season. He hoped to get invited to an NFL team's training camp, but no offer was extended.

"A lot of teams were signing players who were already in the league," Jones said. "A lot of guys in my position got left out last year. It was a series of unfortunate events, but I'm still knocking on the door."

More than a year removed from being a college player, Jones hasn't relinquished hope of competing on the next level. He completed a combine-type workout in front of pro scouts in Atlanta last Sunday.

Two teams -- the Indianapolis Colts and Houston Texans -- called Jones' agent after the lockout ended, but neither team followed up with a camp offer.

"It was a heartbreaker," Jones said.

So he remained in school at Ball State last fall, continued to work out and watched NFL games on TV. Jones obtained seasonal work with UPS during the holidays.

He continues to attend classes and will graduate in May with a degree in business administration. Jones also has a job offer from First Investors, a financial services company in Indianapolis.

But his dream is to find his way to the NFL. To accomplish that, Jones has been working on improving his speed.

He beefed up from his playing weight of 216 pounds as a senior outside linebacker for the Cardinals to 235 last year. With the added weight and strength, he lost some speed.

Jones addressed that this winter when he went to Phoenix for 10 days to train with former Ball State football player and former Central High School boys track coach Cornelius Bowick. Bowick moved to Arizona in 2007 and formed High Octane Development, a training company that works with high school, middle school and club sport athletes. He also coaches football and track at Maryvale High School.

Through Bowick's program, Jones shaved a couple hundredths of a second off his 40-yard dash time, getting down to 4.65 seconds.

"The major correction we made was with his explosion, the first five steps," Bowick said. "His first three steps were short. His stance was off. We call it the drive phase."

Jones came home with a workout prescribed by Bowick to help him continue to improve his speed.

Jones, who is tied for second all-time in games played at Ball State with 50, played inside linebacker as a junior. He led the Cardinals in tackles with 100. He was moved outside as a senior, and different responsibilities within the defense caused his tackles to drop to 66.

He believes he can play linebacker or fullback in the NFL. Jones was a running back at Central.

"I want to make sure I give it my all, and hopefully an opportunity arises," Jones said. "It's my dream. If I give up on the dream, then I would always wonder, 'What if?'

"I'm approaching it (as my last shot), but I'll never give up on my dream until I just can't run anymore. I do believe I can play in the NFL. All I have to do is get a shot. Whenever I get that shot, I'm going to try vigorously, and I'm pretty sure I'll make the best of it."

Contact sports writer Doug Zaleski at 213-5813.

View the original article here

Business : BIMB Still Eyeing Expansion Opportunities In Indonesia

February 10, 2012 17:47 PM

BIMB Still Eyeing Expansion Opportunities In Indonesia

KUALA LUMPUR, Feb 10 (Bernama) -- Bank Islam Malaysia Bhd (BIMB) is still eyeing for opportunities to expand in Indonesia, preferably via a strategic tie-ups with bigger network rather than on acquiring a smaller bank.

Its managing director, Datuk Seri Zukri Samat, said BIMB was currently in preliminary discussion with shareholders.

"We still harbour the intention to go to Indonesia.

"The process will take time because there are so many parties involved.

"We hope to see it happen as soon as possible," he told a media briefing after signing a memorandum of understanding (MOU) with Koperasi Pembiayaan Syariah Angkasa Bhd (Kopsya) here today.

He said BIMB was also looking for opportunities in Bangladesh but the plan for Indonesia was more advanced.

On its third initial public offering (IPO), Zukri said, the bank has received the Securities Commission's (SC) nod and was waiting for the right time for the launch.

BIMB is the only commercial bank approved by the SC to act as principal adviser to undertake corporate finance work such as IPOs and advisory services for mergers and acquisitions.

Under the MOU with Kopsya, BIMB will extend its entire range of syariah-based financial services to the former, giving it access to the latest banking products and facilities.

They include the provision of corporate investment banking, treasury and cash management services.

BIMB will make available the deposit service to Kopsya's account via counter services at all BIMB branches nationwide, cash deposit machines, standing instructions, Internet banking and mobile banking.

The bank will embark on the modernisation of Kopsya payment management via e-commerce and terminal.

Both parties will build a platform to create a co-branded credit and debit card.

-- BERNAMA

We provide (subscription-based) 
news coverage in our Newswire service.

View the original article here

Zumo smoothie bars still have juicy prospects in the French market

The Irish Times - Friday, February 10, 2012 RUADHÁN MAC CORMAIC, in Paris

WILDGEESE: EMIGRANT BUSINESS LEADERS ON OPPORTUNITIES ABROAD: Gilliane Quinn de Schonen MD, Zumo juice bar franchise, in France

THEY HAD high hopes for the Zumo juice bar in Aulnay-sous-Bois, a northern suburb of Paris. “It was new, it was very pretty, everyone was very happy with it,” recalls Gilliane Quinn de Schonen, MD of the franchise in France. “Then it opened and sales were pathetic.”

Mystified, Quinn – who was living in Dublin at the time – flew to Paris, went straight to the shopping centre in Aulnay, donned a uniform and prepared some tasting trays. And still there were no takers. “Of course, it was Ramadan. We had ticked all the boxes – how many shoppers, competitors, everything else. But we’d forgotten about Ramadan.”

The Aulnay bar does a good trade these days, but Quinn tells the story as a lesson in assuming a good product can be sold the same way everywhere. It’s an idea her company has grappled with constantly since setting up the first juice bars in France in 2008.

Whereas Irish people will buy a smoothie at any time of day and drink it on the move, French customers won’t. “The lunchtime trade just didn’t exist,” Quinn remarks. Eighty per cent of business comes after 3pm. “They couldn’t imagine having a juice for lunch. You have to sit down. You need a meal. And it’s not done to eat while you walk.”

So Zumo adapted, adding soup to the menu and putting pressure on shopping centres to provide more seating. Sitting in her office in central Paris on a wintry afternoon, Quinn can afford a smile at those early lessons. Rapid early growth of the French business was followed by a difficult period in 2010, culminating in the closure of several loss-making outlets, but the company now has 85 staff, 12 successful bars and a sure footing in the market.

Quinn has become a prominent figure in the community of Irish business people in one of Ireland’s biggest markets. Her connections to France stretch back to childhood, thanks to a memorable French teacher and her parents’ decision to send her here to work on the language. When she graduated from Trinity College in 1987, she moved to London – as did about 80 per cent of her class – to work with management consultants Bain Company. A transfer to the Paris office followed and, after two years, she packed in the job and moved to Chile to do a year’s charity work. “I thought I’d never get the chance to do it again,” she says.

But Paris exerted its pull. Quinn returned, married Frenchman Nicolas de Schonen and took a job in the food industry. Her post involved working with British food companies entering the French market by selling triangular sandwiches, ready meals and other then-virtually unknown imports to big retailers such as Auchan and Carrefour. With a French business partner, Quinn set up her own consultancy, specialising in advising retailers on the latest trends in the industry. One project was to design Daily Monop, the flagship city centre convenience store chain run by Monoprix.

“Although France was the first country to invent hypermarkets, by the early 2000s they were beginning to reach the end of their cycle,” Quinn says. “They were so powerful that they didn’t see that young people were not going to be driving cars, they were not going to be going out to your hypermarket in the suburbs. They want something in the city centre.”

Monoprix’s competitors duly followed suit.

Quinn’s move into the food business was less a departure than a return. Her father is Feargal Quinn, senator and founder of Superquinn, and the business was “in my blood” – from her days helping on the shop floor as a child to joining the board in the 2000s.

Just before the Quinn family sold their interest in Superquinn in 2005, Gilliane and her own family moved back to Ireland for the first time since she had left as a 20-year-old. “It was a very interesting time to be in Ireland. I remember thinking when I moved back, I’d love to buy a little house, and just seeing prices go up and up. Places were more expensive than in France. It was just crazy.”

But Paris called once again. Two Irish business people were bringing the Zumo franchise to France, and Quinn – who had set up Ireland’s first juice bar in a Superquinn store after coming across the concept in the US in 1998 – came aboard. The first bar – in a Lyon shopping centre – was a huge success, and won a prize in 2010 for the highest sales per square metre in France. “We thought, gosh, this is phenomenal. If we roll this out across the whole of France, we will be doing fantastically.” The firm quickly opened 20 stores, a move Quinn now says was a mistake. “Some of them were fantastic successes, but some of them weren’t.”

When she became MD in 2010, her task was to oversee cutbacks. These days, the firm’s 12 outlets are doing well, and Quinn is convinced – not least because its offer chimes with governments’ healthy eating campaigns – that the concept is here to stay. “The minister for health does all our advertising for us,” as she puts it.

Twenty-five years after she left Dublin in an earlier wave of emigrants, she has no regrets. She moves back and forth between Ireland and France these days, and is glad that her children have close links with her country. “It’s wonderful to see more. It’s good to go away. And then you appreciate much more what you have back in Ireland.”

View the original article here

Opportunities rebound but job market still tight - The Vancouver Sun

CDMScriptManager.load("http://s9.addthis.com/js/widget.php?v=10");By Darah Hansen, Vancouver Sun; With Files From Postmedia News January 26, 2012 2:36 AM

The number of job opportunities has rebounded since the 2008 global recession, but British Columbia's university graduates can still expect a tight labour market and lower salaries once they leave school, according to career experts.

"We do see that it is getting more competitive for students to try and get the good jobs," said Kirk Hill, assistant dean of external relations at Simon Fraser University's Beedie School of Business.

The local experience is in keeping with a newly released national report that found Canada's employment market has not only stalled in recent months, but the overall quality of jobs that exist has also deteriorated.

CIBC World Markets says in the report that when one considers certain factors - such as trends in full-time employment versus part-time employment, how much of the job market is moving to self-employment and how well compensated new full-time jobs are - the state of affairs is worse than it was a year ago.

By province, B.C. and Ontario suffered the largest drop in the number of high-quality jobs generated in 2011, while Alberta saw the fastest growth.

With both quality and quantity of employment falling in tandem, Benjamin Tal, CIBC World Markets' deputy chief economist and report author, said it's no surprise that real disposable income remained unchanged in the first three quarters of 2011 - the worst showing in 15 years.

"Income in this country is not rising," Tal said.

The CIBC report found self-employment grew by two per cent last year, double the pace of paid employment.

"From a quality perspective, the surge in self-employment reduces the overall quality of employment, largely due to the fact that, on average, a self-employed person earns 10 per cent to 15 per cent less than a regular employee," Tal said.

He also said growth of full-time jobs considered "highpaying" was only 0.4 per cent last year, which was a quarter the rate of growth in "low-paying" full-time jobs.

He said this is because of growth in low-paying sectors such as accommodation, restaurants and personal care, and declines in high-paying sectors such as chemical and high-tech manufacturing, public administration and mining.

Tal said full-time employment grew 1.5 per cent last year and part-time jobs were down 0.3 per cent, which was the one area of his employment-quality assessment that was positive.

"Whenever we look at job numbers, we have to look at the quality of the job, because it is as important. You get a job as a CEO, and I get a job in fast-food restaurant. Basically, these are [counted as] two jobs, but of course they are not," he said.

Hill said SFU has seen job postings for graduating students decline by about 10 per cent over the past year. But, he added, that figure is still well up from 2008 when opportunities for graduates dipped an estimated 30 per cent.

"It's slow, but it's not that bad," he said of the current hiring atmosphere.

Hill said the biggest trend he's seen over the past five years is the number of students going into business for themselves.

However, he disagreed with Tal's suggestion that the move to self-employment was in reaction to a lack of quality jobs.

Rather, it has to do with a generational shift toward webbased entrepreneurship and social innovation.

"People [are] looking for things that are going to make a difference to community or society," Hill said.

"Instead of donating money, it's really about how do we create enterprise that helps communities."

Kimberley Rawes, a career educator at the University of B.C., said recent graduates are finding satisfying work in accordance with their skills, interests and education.

But salaries for many entry-level jobs have adjusted downward over the past three years. In 2008, a software developer with a computer science or engineering degree could expect to start at between $50,000 to $80,000 a year, Rawes said.

Today, the same positions are paid on average $38,000 to $55,000.

"That number also holds for a lot of other industries," Rawes said of the latter salary range.

Hill said the average entry-level salary for a business undergraduate is $43,000 a year. Computer science and engineering graduates can expect to earn more than that, while those graduating from a liberal arts program will, on average, earn less.

dahansen@vancouversun.com

Twitter.com/darahhansen

© Copyright (c) The Vancouver SunjQuery('#soundoff').addClass('hideCommentForm'); Sign up to receive e-mail alerts on breaking news from The Vancouver Sun. Save Money
with a Better Rate

View the original article here