Annual Report 2015-2016

South Shore Opportunities   had 162 new business client interviews, 72 from Queens Co and 90 from Lunenburg Co. during 2015-2016 .  This is an increase of 40 new inquiries from last year.  This fiscal year  saw 24 requests for investment which resulted in $695,226 being invested in Queens and Lunenburg county businesses.  As well, South Shore Opportunities invested $18,243 in 11 businesses who took individual training in a business management skills.

Operating results:

The year ended with an Operating Account deficit of $162.  The Board used $143,000 interest earnings from Investment to supplement the deficit this year.   $232,246 was received in operating income from ACOA.

Revenues sourced from Employment Nova Scotia for the year included $114,012  for Career Centre operations, $22,885  for providing the Self-Employment Benefits program.  The current Career Centre contract ended September 30, 2016 and the corporation chose to not enter into a new contract, thus ending the organization offering career related services.

The corporation had budgeted $303,823 revenues plus the need to use $ 212,389 interest from investment earnings.   Budgeted expenses were $516,212    Actual revenues achieved were $120,624 over budget due to the career contract being extended an additional 3 months, some unbudgeted contracted training and additional training revenue being sourced.   Actual interest from earnings used was $69,389 less than budgeted with an actual transfer of $143,000 to support operations.   Actual expenses were $120,786 over budget due to the 3 months extension of the career contract for a total of $636,998.22.  The result of total operations was a $162 deficit.

The overages in expenses were a result of doing extra work during the year.

What were we up to?

The corporation did 7 extra contracts during 2015-2016 prior to completing career services:

  • Career center contract extended from June 30, 2016 to September 30, 2016 to support delays in a new corporation (Queens Employment Services) obtaining a contract to provide career services in Queens county.
  • more»

We can help FROM THE IDEA FORWARD:

Starting or expanding a BUSINESS in Queens County or Lunenburg County?   We can help.

  •   How to research
  •   How to do a business plan
  •   Counselling NO FEE
  •   Loans for business, decisions made locally
  •   No minimum loan, Maximum loan $150,000
  •   No application fee
  •   We continue to help once YOUR BUSINESS IS RUNNING.

“Thanks for your amazing help with securing the studio loan when others did not have the same level of confidence in me.  Perhaps we can do business again in the future. …Tim Feswick, Feswick Productions” 

Looking for new or different EMPLOYMENT?
Check with the people you already know at Queens Employment Services Asstn.  Tel 902-354-3505