Part 1 in our video series on Business Management. We’re focusing on the Top Reasons Why Small Businesses Failed followed by videos on “How to overcome these top reasons.” The statistics are shocking on the number of small businesses that fail in their first year. Sadly only 20% of all new start-ups don’t make it […]
It’s the Most Advanced Successful Retirement Plan for Small Business Owners
If you’re a business owner, you’re probably focused on the day-to-day tasks with your business. You may not be thinking about retirement – even if it’s a few years away. But don’t worry, you’re not alone. More than three-quarters of small business owners don’t have retirement plans for themselves or their employees. Some working Canadians […]
COVID-19 Cash flow management strategies
Financial survival has been top of mind for many business owners since the first lockdowns were declared in March of 2020. Almost 40% of Canadian entrepreneurs are now trying to balance rebuilding their financial health against business needs How to manage your finances to ensure the continuity of your business? Here are few cashflow strategies that will help […]
Unintended Consequences of Taking Corp Dividends vs. Taking a Salary
Most business owners think about how to save taxes on their personal income by taking Corporate Dividends however, you’re missing out on planning solutions that could save you hundreds of thousands of dollars in taxes and future value of your retirement income. How often have I talked with a business owner and been informed they […]
How to maximize your company’s value before selling it
From the buyer’s perspective, a business that can show healthy cash flow, that’s well maintained and enjoying sustained growth, is much more attractive. Canada’s population is aging and Canadian entrepreneurs are no exception. In fact, close to 60% of Canada’s small and mid-sized business owners are aged 50 or older, nearly double the proportion of the overall […]
Family successions: How to minimize your taxes
Planning can help you significantly reduce your tax liability in a succession. Failing to do so could mean the business has to close or be sold. Or perhaps it might have to incur an unhealthy level of debt. Taxes are one of the main considerations when it comes to family succession. Without proper planning, you […]