Colbert wins business award
Gull Island resident and pharmacist has success with retirement home
A well- known North Shore pharmacist and businessman has been named winner of CBDC’S 2011 Business Distinction Award for Trinity Conception.
Paul Colbert accepted the award from Charlie Adams, newly elected chairman of the Community Business Development Corporation Trinity Conception following CBDC’S annual general meeting on Oct. 18 at their offices in Carbonear.
Approximately 40 businesspeople and community leaders from the region attended the meeting.
Colbert is part owner of two pharmacies — Tri- Con Pharmacy in Old Perlican and Western Bay Prescription Centre.
With financial assistance from the Business Development Corporation (BDC) and CBDC Trinity Conception, in 2006 he acquired a retirement home that had been operating in Old Perlican under other ownership since 1986.
According to Diane Hodge Burt, CBDC’S executive director,” Paul and his staff of 11 have worked hard to make the home a welcome and comfortable environment for their residents; and they have also worked hard to make the home financially viable and sustainable.
“Over the past five years the occupancy rate has increased from 53 per cent to 71 per cent, and Paul reports that it is expected to rise again within the next month or so to 76 per cent.”
Humble in his acceptance of the award, Colbert attributed the success of his new business venture to his wife and staff at the home.
“My wife Judy deserves this more than I do,” he told The Compass after the presentation ceremony.
“I look after the financial aspect of it, and she looks after the day-to-day running of the business. So her and the staff are the ones who deserve the thanks for the success of the business.”
Considering the award to be a great honour, he said, “to win this award is extra special.”
From 24 residents at the retirement home when they took it over in 2006, Colbert said they currently have 32, a number that is expected to rise to 35 this fall. While the home could accommodate a maximum of 45 residents, Colbert said they are comfortable with the numbers they have to work with.
A native of Job’s Cove, Colbert has resided in neighbouring Gull Island for the past 24 years with his wife, Judy. They have two children, Ashley, 24, who is following in her father’s footsteps, studying pharmacy, and Matthew, 21, who is studying physical education.
At the community level, Colbert has been active with local service districts and hockey and softball associations. He also served on the first board of trustees when seven health boards were amalgamated to become Eastern Health.
Each year, CBDC staff nominate candidates for the annual Business Distinction Award. A nominations’ committee made up of CBDC board members and staff review the nominees and pick a winner.
All clients, past and present, are eligible for the award, provided they have been entrepreneurs for at least a year. A business can be nominated as long as the majority owner is a client of CBDC.
Nominees are judged on operating success, sales, future growth and contribution to the local and provincial economy.