The Future is Local: “BUYING CANADIAN” Keeps Canadian Businesses Strong
Rasmussen MA CEC PCC March 4, 2025
Finance
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Rasmussen MA CEC PCC In a “Buy Canada Only” environment, businesses that emphasize local production, Canadian-made goods, and domestic supply chains will have the greatest opportunity to thrive. Think about how your business can capitalize on the buy Canadian fever that is happening now? Whether you offer products, services, or have a business idea you’ve been waiting to launch—this shift
Rasmussen MA CEC PCC The proposed 25% tariffs on Canadian imports to the U.S. have raised significant concerns about their potential impact on the Canadian economy. These tariffs could lead to increased costs for Canadian exporters, disruptions in key industries, and broader economic challenges. Here’s a deep dive into the economic repercussions and proactive measures small business owners can
Rasmussen MA CEC PCC This week, we celebrate Women Entrepreneurs Week—a time to recognize the incredible contributions women make to our economy and society as business owners. But it’s also an opportunity to shine a light on the systemic challenges that hold women back in entrepreneurship. The road to business ownership for women is paved with more than the
Rasmussen MA CEC PCC Everyone wants a profitable business, because if not… well what’s the point? You have a hobby, not a business. A profitable small business has a healthy net profit margin of 10% or higher. How do you calculate your net profit margin? A profit is earning more money or assets than you spent. The inflow must
Rasmussen MA CEC PCC Looking at your balance sheet can be comforting or terrifying. The balance sheet shows the financial position of your business. It tracks your assets, liabilities, and equity. In plain language, it shows what you own, what you owe, and how much money you’ve invested into the company. It’s the first report your banker looks at
Rasmussen MA CEC PCC Entrepreneurs are notorious for “winging it” when it comes to wages in their small business. This includes deciding the hourly wage or annual salary they pay workers, the number of hours worked, optional benefits and raises. Each organization has a limit on what it can pay to stay in business. Know your limit! Create a system to
Rasmussen MA CEC PCC Have you experienced any of these money situations? This double-sided coin is a common struggle for small business owners. Where can you get the money to finance your business so you can grow? Hopefully, the list I’m about to share with you will help. Here are 7 of the best options to finance your business.
Rasmussen MA CEC PCC Owning a small business means collecting, managing and paying taxes. These include but are not limited to payroll tax, sales tax and corporate tax (or more depending if your business is operating outside of Canada). Sometimes business owners try to “save” on taxes by getting paid in cash. But are you actually helping your business
Rasmussen MA CEC PCC Business owners have so much to do on any given day that sometimes they don’t realize which systems are adding to their financial health and which systems could be hindering them. By reviewing and updating how you do things in your business, you create the potential to make more money with less stress. Have you
Rasmussen MA CEC PCC Understanding how cash moves in and out of your business strengthen your ability to make good business decisions. How you spend or save your cash affects your company’s financial health as well as your ability to market, develop your products and team, and take time away from work. Unfortunately, it’s not unusual for small business
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