Against all odds, twenty years ago today, I sold my business. Having owned the agency for seven years it was time to sell. My family was growing and with a third child on the way the decision was easy. People tell me I was lucky. Lucky that I sold my travel agency when I did.
We’ve all had that moment—our tax bill shows up on schedule, but we forgot about it and we are wondering how are we are going to pay it. Or an unexpected repair on a critical machine stresses us out. But there are higher costs when it comes to not having cash flow or even reserves
If you have not heard of the Canada BC Job Grant the highlight benefit of the program for BC’s Entrepreneurs is a non-repayable grant that covers 2/3 of the cost of training up to $10,000.00 per qualified small business owner.
Running a business without and an accurate financial tracking system is equal to riding your bicycle down a busy road with your eyes closed. Gone are the days when you could get away with throwing everything in a shoebox and dropping it off the night before your tax returns are due.
This week in British Columbia it is “Make a Will Week” making this a great time to talk about why small business owners in particular need a will. Over the past few years I have witnessed the pain and financial struggle, even ruin, more than a few small business owners have had to endure because someone in their life passed away without a written will.
Two scenarios come to mind that best demonstrate why this week, I encourage you to take 10 and make an appointment to get your will done.