MANAGEMENT Consider your external Chartered Professional Accountant when preparing internal financial statements. To run an owner-managed business successfully, it is not enough just to track the movement of funds in and out. Statements providing the type of information needed by your external CPA are also essential because the external accountant is the intermediary between your […]

INVESTMENT Saving for retirement can be approached in several ways. Media ads constantly bombard us with images of happy, attractive couples enjoying their retirement years on a sunny beach in Jamaica or on a cruise ship in the Mediterranean. But to reach that dream, it is necessary to invest today’s earnings so that they will […]

TAXATION Ensure your books are always in order for the CRA. Owner-managers work hard in their businesses but are often overwhelmed by the reporting requirements for the Canada Revenue Agency. Few owner-managers enjoy the time spent and cost required to meet the CRA requirements, let alone the actual taxes that have to be paid; nevertheless, […]

TECHNOLOGY Abandoning paper-based processes can improve productivity and profits. The more a task can be automated, the greater the increase in productivity and the greater the reduction in employee overtime and management frustration. Even though technology can speed up operations and reduces costs, far too often owner-managers continue to embrace legacy behaviours that keep their […]

MANAGEMENT A little adjustment to your sleep schedule before you travel can make you alert and ready for business when you reach your destination. Despite the ease and relatively low cost of modern telecommunications, it is still necessary for business people to travel to be onsite. This is especially true for business owners who want […]

MANAGEMENT The pending revision of Canada’s marijuana laws will affect the workplace. Liberalisation of Canada’s marijuana laws appears to be imminent. The Cannabis Act is currently expected to become law in 2018 and will decriminalize certain activities and make marijuana more widely available under a controlled production, distribution and sales system. Whether or not you […]

MANAGEMENT Shoplifting can ruin your business. Fred Tarasoff loves music. In fact, he used to own a record store, but had to go out of business in 1989 in large part because of inventory losses through shoplifting. Then he was assaulted by a shoplifter while he was running a health food store. Since that time, […]

  TAXATION A “tax refund” is really just the CRA giving you back your own money. “The government gave me money back” is a common phrase often heard after the April 30 or June 15 filing deadline. The truth is that the government is not being charitable; it is only refunding the tax that you […]

TECHNOLOGY WiFi offers new retail marketing strategies. The use of cut-out and email coupons to create consumer awareness of your business and your products has been around for a long time, but their effect on your revenue and profit is notoriously hard to measure. Some marketers are now hoping to get around this problem by […]