14 Small Business Tips to keep your Cashflow Positive While seeking small business tips from your industry peers is invaluable for small businesses, cash flow stands out as a universal metric of success across nearly every sector. What is Cash Flow? Understanding cash flow is essential for any small business owner. It’s the movement of […]
How to File Your Self Employed Tax Returns in Canada? If you aren’t working for any employer, you probably fall into the self-employed tax filer category. You don’t have to worry about filing your self-employed tax returns if your business did not make a profit. If you are generating consistent income based on your venture, […]
11 Reasons You Need a CFO for Your Spa and Salon Bookkeeping Your shelves could be lined up full of shampoo that is not selling properly, but that bottle of moisturizer your customers want is out of inventory again! We can tell you why it happened and how to avoid similar scenarios. Welcome to the […]
Tax Deductions for Spa and Salon Owners Spa and Salons serve to make up their clients, boosting their confidence. While people come to your business to be their best self, what about your finances? Are they organized and recorded in a way that you can take advantage of all tax credits, and deductions? Its quite […]
How to Scale Your Small Business in Toronto? This is the last blog in our series called “Setting Benchmarks for Small Businesses”. This series focused on explaining all aspects of small business expansion, in an yearly stage. In this last piece, we focused on post-success strategies for a small business to maintain itself as a […]
Predicting the Effect of Canadian Budget 2024 on Small Businesses Ottawa proposed the Canadian Budget for year 2024-25 on 16 April 2024, in the House of Commons. We have already rolled out an article focusing on the positive effects of Canadian Budget 2024 on Small Businesses. Now comes the not-so-positive part. Inclusion Rate on Capital […]
Beyond Survival: Strategies for Your Business Growth Welcome back to part four of our five-part blog series, “Setting Benchmarks for Small Businesses!”. By year four, you’ve likely established a solid foundation for your small business. You’re comfortable with the day-to-day operations. This blog focuses on strategies that go beyond simply maintaining your cash flows and […]
The areas where you are outperforming your competitors are known as your competitive advantages. Your business development strategies are designed to help you attract and retain more customers to ensure your ongoing success streak.
Conversely speaking, the areas where you are being outperformed by your competitors are known as your business vulnerabilities. If you continue to be outperformed, your business can fail to attract and retain enough customers.
The second year for small businesses in Ontario marks a critical juncture for entrepreneurs. The initial thrill wears off and the realities of business operations become apparent. Regrettably, approximately 20% of small businesses fail to surpass this crucial phase. However, by taking the time to comprehend common challenges faced by small businesses, and by implementing strategies to address them, you can markedly improve your odds of success.
Building a Successful Small Business in Ontario – Year 1 Owning a business is great. Keeping it running every day is greater and building one from scratch to the time that you have developed a team, and a loyal customer base, is the greatest. It is also a bit difficult to be honest. But persevering […]
