Five mistakes small businesses make when it comes to tax and finances

Small businesses are on the rise as more people opt to work, and create financial stability, for themselves. Owning a small business can be a big challenge. According to Innovation, Science and Economic Development Canada, between 2014 and 2018 an average of 97 640 businesses were created every year and 89 227 businesses disappeared. That leaves an average of 8 413 businesses that made it to the next year, which [...]

September 22nd, 2022|Small Business, Tax|

Equity Financing: Understanding Venture Capital

You’ve just come up with a great business idea and now you’re looking to develop it and take it further. Most likely you’ll need to finance your start-up, and this is usually one of the biggest challenges. Start-ups have expected losses for the first several years, and traditional debt financing is most likely not a viable option. Your next best option would be equity financing. This is where you, as [...]

September 6th, 2022|Uncategorized|

Asset & Property Financing with the CSBFP

Starting a business in today’s economic environment and financial turmoil created by COVID-19 is everything but easy. The Canada Small Business Financing Program (CSBFP) creates the opportunity for small businesses to apply for loans by partnering with financial institutions, thereby sharing the risk with lenders. The majority of financial institutions participate in this program. Over the past 10 years, small businesses have received over 53,000 CSBFP loans totalling $10 billion dollars. [...]

August 2nd, 2022|Loans, Small Business|

The Success of Your Small Business Hinges on Good Money Management

If you’re a small business – whether you’re just starting out or have been operating for a while – it’s essential to understand that good money management is integral to the overall success of your business. You might be thinking, “Hmmm, I’ve always been good with money.” That’s great. But managing your personal finances is far different from managing the money that goes in and out of your business. Specifically, [...]

Making the Most of Your Government Funding Proposal

In our first blog about accessing Canadian Government Funding for your business, we talked about the specifics of grants and loans, how they work, and which one might be right for you. But there’s a whole lot more you need to do before that money might land in your hands, and convincing the funders that you’re a good risk is one of the most important steps on which you can [...]

May 15th, 2022|Tax, Government, Grants, Loans|

Accessing Government Funding for Your Business (Grants and Loans)

Small business owners have it tough. A majority of the start-up and maintenance costs must be covered by them in order to operate as a proper business. However, if you do not currently have a high-income job or access to unlimited funds, you'll need to find a way to financially support your business. This is where government funding comes in. Whether you realize it or not, the government is involved [...]

April 24th, 2022|Bookkeeping, Accounting|
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