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.
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
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
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
Have you noticed your suppliers are raising their prices? Is the cost of operating your business starting to rise? What you’re experiencing is inflation. Here’s an example of inflation I’ve seen recently. It was common even a year ago to have a housekeeper charge $25 CAD per hour, now the going rate is $40 CAD.
Owning a small business means collecting, managing and paying taxes even if you are a self-employed “solo entrepreneur”. Determining what to save for your taxes varies depending on your unique business needs. A surprise at the end of the year is never nice. One of the wisest financial decisions you can make for your small
If not to make a profit then why are you working so hard? The most common question about profit asked by small business owners is: “why when my books show that I made a profit don’t I have any money in the bank?”. Do you know where your money went? Being fully familiar with your
New entrepreneurs are often surprised by just how expensive it is to build and run a business. Without careful planning, your start-up money can evaporate before you have had a chance to make your first sale. To prevent this, know and understand the full start-up costs for your small business. Plan for every dollar you
The startup stage of entrepreneurship holds a strange duality; you are excited to pursue this new venture and nervous that it may not work out. Perhaps you are itching to quit your job and dive into this business, but you haven’t made the leap yet because of the financial security your day job offers. You
I often hear small business owners say they need help, but can’t afford to hire anyone. The 2022 Canada Summer Jobs grant is the perfect solution to that problem. Hire a talented student to work at your business for the summer and get up to 50% of their wages covered (100% for non-profits) by the