In 2019, following the downturn of the forestry industry, 108 Golf Resort pitched an application to Northern Development’s Forestry Affected Business Consulting Rebate program. The application was a hole in one and they were approved for $15,000 to assist with the costs of hiring a professional accountant to help them navigate the economic challenges they were facing.
Receiving the $15,000 rebate relieved 80 per cent of the costs incurred while contracting a consultant to boost their business. 108 Golf Resort was acutely aware of the impacts that two local mill shutdowns had on their business, specifically golf and restaurant revenues, and looked to a professional consultant to provide guidance on how to save the business and the jobs they provide.
The consultant worked closely with the onsite staff at 108 Golf Resort to help them gain better financial control of the business. Techniques to achieve this include new budgeting systems, cash management procedures and appropriate cost control measures. Working with the consultant, staff also made great strides in moving their application to develop a 12-lot subdivision forward in the approval process. The future subdivision will help 108 Golf Resort to earn revenue to pay off debt that was incurred during the forestry downturn and COVID-19-related travel restrictions.
On the human resources side, the consultant provided the leadership team with techniques for better management, which Hansen says has already proven to be invaluable.
Learnings from working with the consultant in response to the forestry downturn proved useful during the early stages of the COVID-19 pandemic when travel restrictions further compounded the challenges faced by 108 Golf Resort. The 2021 golf season started optimistically, with membership sales 30 percent higher than normal before the course even opened for the year. Increased revenues, matched with improved financial controls, means the grass is looking greener than ever for 108 Golf Resort!
Funding for this project came from Northern Development’s Forestry Affected Business (FAB) Consulting Rebate funding program. The program was introduced in August 2019 as an offshoot of the existing Competitiveness Consulting Rebate program. FAB was available to a broader range of industries than the Competitiveness Consulting Rebate program and was specifically designed to support and help businesses adjust to the economic downturn in the forestry industry. In April 2020, FAB was renamed Small Business Recovery (SBR) Consulting Rebate and adjusted to include businesses impacted by the COVID-19 pandemic. Learn more about SBR here.