What are "safe investments"? Ever wondered about the fine line between low-risk investments and higher-risk ones? Many Canadians grapple with this distinction. If you foresee needing your funds within the next five years, could low-risk investments guaranteed by the Canadian Deposit Insurance Corporation (CDIC) be the way to go? Think high-interest savings accounts or GICs. [...]
Cash flow management is crucial in any small business, and how it’s managed can determine your business’s success. A sufficient cash reserve will ensure on-time payments to your suppliers, employees, and other vendors. As well as increasing revenue and profit, businesses can add to their bottom line by investing money back into the business. [...]
Manage Your Money The Smart Way Knowing how to manage your money is an incredibly important life skill that, if mastered, can provide a lifetime of comfortable living. Here are ten ways to ensure this by getting smarter with your money. 1. Know the difference between wants and needs Justifying any new purchase is [...]
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 [...]
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 [...]
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 [...]
