PwC online magazine explores market drivers, confidence of Alberta businesses and practical advice on making sustainable change in organizations

PwC’s Doing Business in Alberta online magazine provides results from major Canadian business and energy surveys and offers advice on ‘making change stick’ in an organization

September 30, 2009 - Natural gas has long been the quiet driver of Alberta’s economy. And with the price of natural gas dropping to a seven-year low and inventories reaching a record high, many organizations – both public and private – are re-evaluating their long-term business strategies, according to the latest edition of PricewaterhouseCoopers’ (PwC) Doing Business in Alberta online magazine.

To help Alberta companies realize lasting value in a challenging economic environment, PwC launched Doing Business in Alberta, a quarterly online magazine that features articles, reports, publications, video and podcasts offering practical steps to achieve sustainable change in an organization.

“The results of our latest surveys are an early indicator that many Alberta businesses are becoming more optimistic about improvements in Alberta’s economic conditions in the coming year,” says Ray Crossley, managing partner for PwC in Calgary. “At the same time, organizations in the province realize that we’re not out of the woods yet. The companies that will emerge successful and strong from this downturn will be those that take a pragmatic approach to cost-reduction and operational efficiency, and build sustainability into their capital structures. Our Doing Business in Alberta online magazine is one way that we are reaching out to organizations to let them know how PwC can help.”

The Fall 2009 edition also provides details on the results from three of PwC’s major business and energy surveys, including the 2009 Canadian Energy Survey and the Business Insights survey of private companies across Canada. Key findings include:

• Seventy percent of Canadian oil and gas producers expect crude prices to rise in the next year, according to a survey conducted by PwC and JuneWarren-Nickle’s Energy Group. Most respondents said oil prices will have to increase to at least US$70 to $80 before they would consider increasing conventional drilling programs. In lockstep, the Alberta government plans to extend a drilling royalty credit for new wells and a new well incentive program by one year to March 2011. Both programs, introduced this past winter, were set to expire in early 2010.

• Initial survey results from PricewaterhouseCoopers' (PwC) Business Insights® survey shows that 61% of all of Canadian private company respondents expect their business to perform better in the next 12 months. That’s a significant increase from 44% in October of last year. The previously highly optimistic West is now more in line with the rest of the country, with the percentage of companies striving for growth in Alberta dropping to 57% from 85%. The full PwC Business Insights report will be published later this fall.

Other key content in the Fall issue of Doing Business in Alberta includes:

• The deadline and implications that are looming for income trusts in the province that are looking to convert to a corporation

• How IT cost reduction strategies can help Alberta organizations not only save money but stay one step ahead of their competition

• The In Brief series, a recurring newsletter featuring concise discussions of issues facing companies in various industries in the province and some practical steps to help them improve overall business performance and make change that sticks.

To read the magazine, please visit: http://www.pwc.com/ca/DoingBusinessInAlberta.

About Doing Business in Alberta

Launched in June 2009, Doing Business in Alberta is an online magazine issued quarterly by PwC which provides access to regional-specific advice and information for Alberta companies on the current business issues they face. The online magazine regularly provides guidance and resources such as articles, reports, publications, videos, podcasts and services information for Alberta companies in all sectors.