The Blog

Explaining how COVID-19 is affecting small businesses is impossible in one blog post. To be blunt, the situation is dire for many small businesses. Small business owners are worried about laying off staff, losing income, and worse. COVID-19 is affecting many small businesses in terrible ways, especially those in the hospitality industry. Business owners are doing what they always do … Read More

Are you looking to set up a CRA My Account? It’s a two step process. The first is to complete the application online. After that, you will be sent a letter with a security code by mail. The letter includes instructions as to how to enter the security code. Your CRA My Account will be fully activated once you enter … Read More

Every industry’s turnover rates differ. Some are much higher than others for obvious reasons; work like fishing and businesses that are particularly susceptible to seasonal peaks and valleys will see much higher turnover rates than other businesses. You might also see particularly high turnover rates in minimum wage jobs, as employees find other companies who will pay them more. Appreciating … Read More

  You never want to make a choice between debt payments; optimally, your debt should be low enough that monthly payments towards each debt are sufficient to lower the principal (the part of the debt that isn’t interest). There are, however, times when you might not be able to pay all of your debts, and you need to choose which … Read More

Not everyone has what it takes to be a successful entrepreneur. That said, everyone can develop the traits of a successful entrepreneur; you just have to know what they are and work on your weak points. Though no two entrepreneurs are exactly alike, almost all of them share many of these traits:   Optimism When you think everything is going … Read More

The cash must flow. Cash flow is one of the most important metrics to look at when trying to determine a business’s financial health – it’s helpful for determining an individual’s financial health, too. To understand the importance of cash flow, you must first understand what cash flow is.   Cash flow can be broadly divided into two categories: inflow … Read More

You’ve written your business plan. You read all the business plan writing guides to make sure it was perfect, you’ve performed your SWOT analysis, you’ve calculated one-year growth estimates given ideal, average, and poor market climates, you’ve created a strong organizational structure, and you’ve positioned yourself in the market. Whether you created the plan to guide your own behaviour or … Read More

It’s February, and you know what that means – tax season is upon us. This article is going to focus on personal income tax, both because that’s what time of year it is, and because preparing business taxes are often a lot more complex. Though the tax deadline in 2020 is April 30th, you can get ready to file right … Read More

A startup plan is a truly wonderful document – it’s filled with your aspirations, the research you’ve done, the reasons why investors should be interested, and your plans for the future. Startup plans are dreams put to paper. You can find a number of guides telling you how to write a business plan, but these guides can often lack guidance … Read More

Performance management has an absolutely fascinating history. According to Harvard Business Review, there are three main lenses through which you can look at performance management: as a tool for developing accountability, as a tool for employee development, or a third way, which incorporates elements of both. Companies have tried going numberless, tweaking how they manage performance-based reporting, and going back … Read More