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Despite the turbulence and uncertainty that dominated the 1980s, many Manitoba companies enjoyed outstanding growth and development during the decade. Small companies grew into large ones; large ones became larger. Six of them in particular shone brightly and if they weren't already, they are now among Manitoba's leading corporate citizens.
COMCHEQ SERVICES LIMITED
As the 1980s dawned, Comcheq Services was just beginning to find its niche. Growth through the '70s had been modest -- "It took us the decade to set up our network of branches across Canada and establish ourselves in the computer payroll industry," says chairman Bill Loewen. "The '80s have definitely been very good to us."
Good indeed! Consider these facts: revenue in 1980 was $2.7 million; today, it approaches $24 million, a 789 per cent increase; the number of branch offices totalled just six in 1980, now there are 19, a 217 per cent rise; and employees are up from 60 ten years ago to 453 today, a 655 per cent jump.
"Ours is not an industry where companies experience massive growth from one year to the next," says Loewen. "We recognized this in 1979, so when we were planning for the '80s, a 20 to 25 per cent annual growth was our target."
Throughout the decade, Comcheq continued taking the lead by developing and introducing numerous innovations in the payroll processing field. In addition to being the first service bureau to offer cheque clearing as part of the payroll operations, other Comcheq firsts included: the Electronic Time Card, ETC Software, the Micropay System for in-house production of payrolls, "Quick-Pay" for smaller payrolls (1-30 employees), Cashex Terminals and numerous payroll deduction services.
Perhaps the riskiest venture, says Loewen, was the introduction in late 1984 of the TouchPay Bill Payment service. "This was something very new to the market, and it took a while for people to recognize its value. it is now finally beginning to take off the way we though it would."
Another significant highlight of the '80s was the company's move to its current headquarters on Garry Street in 1986. Comcheq purchased the old Freed Building, renovated it and turned it into one of Winnipeg's more outstanding heritage buildings.
FEDERAL INDUSTRIES LTD.
When John F. Fraser assumed the presidency...