Business in Vancouver – June 14-20, 2011
The Great Recession continues to cast a long shadow over B.C.’s economy. While many of the province’s largest companies continue to recover from the shocks of the financial crisis, the recovery has neither been as swift nor as uniform across the province’s diverse corporate landscape as many might have hoped.
Overall, this year’s list of top 100 private companies in B.C. had a modest increase in revenue in 2010. Combined revenue of the list rose 1.7% to $59 billion, up from $58 billion in 2009.
…Knowing what’s fundamental for a company to grow is also key. For Kari Yuers of Kryton International, having capable staff and a steady stream of new products that fill its customers’ needs have remained vital for the company’s double-digit growth over the years.
But even more fundamental is having sound financial management for the company her father founded. “A powerful lesson I’ve learned over the past 20 years is that revenue is vanity, profit is sanity, and cash flow is, in fact, reality. I’ve been mindful how important it is to have cash. It pays dividends with regards to being able to do what may seem like a risky thing. But when it works out, you’re a hero.”