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For a business to thrive and grow, it essentially needs two things: a strategic plan and an ability to continually find new customers and tap into promising markets. Here’s how you can do that. The untapped potential in existing markets Start by re-evaluating your existing customer base. Profiling them will help you to more accurately define who your target consumers are. Explore different distribution channels that could be more effective…  Read more

Getting caught up on a week that got away? Here’s your weekly digest of some stories relevant to business and the economy. Interest rates may have peaked – is it time to jump into the housing market? After the Bank of Canada gave its clearest hints yet that its interest rate cycle might have peaked, some real estate experts are expecting hope for lower borrowing costs will set up a busy…  Read more

As a business owner, you often find yourself pulled in different directions by competing responsibilities. It can feel daunting to classify tasks and tackle the most time-consuming ones first. But why is it so hard for us to start – or even finish – seemingly insignificant tasks? Why do these tiny tasks become the bane of our existence, tempting us into procrastination limbo? Let’s explore why we get stuck on…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. 2024 in charts: Experts predict what’s to come for housing, jobs, wages, interest rates and more Economists, academics, investors and business leaders pick a chart that highlights an issue that will be important to watch in 2024. Bracing for impact: The looming hard landing of Canada’s economy If you’re…  Read more

When you’re ready to take your business to the next level, you might start thinking about “scaling”. No, it’s not just a fancy term for growth, it’s about doing more with less. Scaling is about increasing your revenue without needing to proportionately increase your resources—pretty cool, right? It’s like sending an email: whether you send it to 100 people or 100,000, your effort is the same. The trick to scaling…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Fixed mortgage rates are on the decline. Is now the time to lock in? Rates on some fixed mortgages have dropped by a full percentage point in the past few months, opening up an opportunity for Canadians eyeing the spring housing market or with a mortgage of their own up for renewal. Canada…  Read more

So, we’re officially in the thick of a cost of living crisis. This presents a challenge for entrepreneurs and is a nerve-wracking time for many small business owners. If you’ve had sleepless nights worrying about how you’re going to pay your suppliers or support your staff, you’re not alone. It’s likely you’ve already looked at where you can cut costs, but it seems like an impossible task when suppliers are…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canadian dollar ended 2023 on a hot streak but don’t expect the momentum to last The Canadian dollar ended 2023 on something of a hot streak, but will be hard pressed to keep up the momentum in the new year as headwinds gather and fundamentals favour the greenback, currency analysts…  Read more

Inflation – it’s a word that’s been on everyone’s lips recently. Rates are on the rise, and our small business community is feeling it the most. Increased supply costs, a lack of workforce, and dwindling profits are among the challenges faced.  Let’s demystify inflation and delve into its impact on small businesses. Grasping Inflation In essence, inflation is the uptick in the cost of goods and services. Whether it’s a…  Read more

You might have a mental image of data breaches happening only at big institutions like banks, password managers, or even government agencies. But the truth is, any website that stores personal information can be vulnerable to a breach. Now, not all breaches are created equal, and the impact on individuals and businesses can vary greatly. But hey, don’t panic just yet! We’re here to lend a helping hand and shed…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Bank of Canada will cut three times next year to bring rate to 4.25%, Deloitte predicts The Bank of Canada will likely start cutting interest rates in the second quarter of 2024, predicts the chief economist at Deloitte Canada. Get ready for the ‘great adjustment’ in Canada’s housing market Home prices should climb back…  Read more

For small businesses in today’s competitive market, outsourcing can offer a range of advantages. Not only does it reduce costs and free up valuable time for owners to focus on growing their business, but it also provides access to skills and expertise that may be unavailable in-house. By working with external professionals or firms who work in certain areas, small businesses have the opportunity to streamline operations, increase productivity and…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada’s trade surplus grew more than expected in October Canada recorded a larger-than-expected trade surplus of $2.97-billion in October, as exports rose marginally but imports slumped, Statistics Canada said. Bank of Canada says immigration curbs long-term inflation, but has strained housing market Immigration pushed a steady decline in housing…  Read more

As a small business owner, it can be incredibly difficult to maintain a healthy work-life balance. The obligations and responsibilities of running your own business often take priority over any personal pursuits, no matter how important they may be for your overall well being. But, with the right strategies and mindset in place, it is possible to strike an effective balance between working hard on your business and making time…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Bank of Canada rate decision: What economists expect Economists are expecting the Bank of Canada will hold interest rates at its key policy announcement next week, with some saying they expect the central bank to be done hiking rates. Statistics Canadian survey on business conditions, fourth quarter 2023 Statistics…  Read more

AI (Artificial intelligence) has been both a huge disrupter and enabler for businesses of all shapes and sizes. (AI) is no longer just a pipe dream of science-fiction. It has become a vital aspect of today’s world and has meant businesses or employees can and are becoming more productive by leveraging the many AI tools for business activities.  In the past, the application of AI was limited to big corporations…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. No firm commitment to balance the budget: What economists are saying about Ottawa’s fiscal update The federal Liberals unveiled a series of measures aimed at addressing housing affordability in their Nov. 21 fiscal update, but also emphasized the need to keep government finances under control. Here’s what economists are saying about the…  Read more

In today’s digital age, online reviews can make or break a small business. With the ease of access to social media and review websites, customers can easily voice their opinions and experiences with your business online. As a small business owner, it’s essential to understand the importance of online reviews as they will impact your brand image, sales, and customer loyalty. Boost your brand image Online reviews are the first…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. It’s been ‘hard to sell’ in many housing markets across Canada. Here’s why The balance is shifting in Canada’s housing market, with realtors in most major markets saying home sales are slowing from Vancouver to Toronto. For home sellers who missed the signs, the slowdown can come as a…  Read more

As a small business owner, you probably know it’s important to have an engaging website that reflects the image of your company and attracts customers. A great website can give you an edge over your competition and help you grow your business. But with so many websites out there, how do you ensure yours stands out? Here are some tips for building an engaging website that will draw in customers…  Read more