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Running a business is hard enough without having to wrestle with out-of-date accounting records. That’s where cloud accounting comes in—a modern solution that can make your life a whole lot easier. This article explores why small businesses should embrace cloud accounting and how it can drive your success. What is Cloud Accounting? Cloud accounting involves using online software to manage your financial records. Unlike traditional desktop accounting software, cloud-based solutions…  Read more

Riding the Wave: Bitcoin Hits All-Time Highs in 2024 The cryptocurrency market is buzzing with excitement! Not only has there been an approval of a Bitcoin and Ethereum ETF, Bitcoin has reached new all-time highs in 2024. This unprecedented surge has not only captivated seasoned investors but has also drawn a new wave of Canadians eager to participate in the booming digital asset space. With the increasing popularity of cryptocurrencies…  Read more

Understanding financial statements might sound daunting, but it’s crucial for small business owners to stay on top of their game. Each financial report offers unique insights into different aspects of your company’s health. This listicle will break down the essentials, helping you make informed decisions and ultimately steer your business toward success. 1. Balance sheet What is it? The balance sheet provides a snapshot of your company’s financial position at…  Read more

Setting financial goals for your business may be one of your most important responsibilities as a leader and business owner. Your financial goals serve as far more than wishful projections, they form the backbone of your road map for success, internal and external. Financial goals are something that every single business should possess regardless of its market, model or size. Let’s explore how you can set and track financial goals…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. What the Bank of Canada’s cut means for the economy The Bank of Canada’s decision to cut its overnight interest rate by 50 basis points was as significant as it was expected. Following on from a shockingly low CPI print, most analysts and investors had priced in this ‘double’ cut.…  Read more

Delegation is a skill often discussed but rarely mastered, especially by small business owners who are wearing multiple hats. The balancing act of managing daily operations while pushing for growth can be overwhelming. Imagine if you could free up hours in your day to focus on strategic decisions rather than getting bogged down in every minute detail. This is where the art and science of delegation come into play. By…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. After Bank of Canada’s oversized cut, is lower and faster the new pace? The Bank of Canada delivered an oversized interest rate cut of half a percentage point on Wednesday, focusing now on boosting the Canadian economy amid signs inflation is well under control. Shock-prone world’ highlights need for productivity Bank of Canada…  Read more

In any successful operation, accountability is the bedrock upon which trust and performance are built. At the heart of this dynamic are leaders who not only demand accountability from their teams but also embody it in their leadership style. Here’s how they maintain a culture of accountability: 1. Communicate and uphold high expectations Accountability is a framework that helps individuals understand what is expected of them, ensuring they meet expectations…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Jobs report tops economists’ expectations in September The Canadian labour market exceeded many economists’ expectations in September, adding more than twice as many jobs as the previous month while unemployment ticked lower. Statistics Canada reported on Friday that the economy added 47,000 jobs in September, while the unemployment rate…  Read more

A solid sales strategy will help you consistently grow your business. It will give you a framework for generating more leads, closing more deals, and ultimately increasing your revenue. From nurturing existing accounts to thought leadership and effective pricing discussions, here are some actionable steps for a winning sales strategy. Nurture existing accounts:  Schedule regular check-ins with current customers to maintain relationships.  Use social media to engage with customers through…  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 survey shows business, consumer sentiment remains low The Bank of Canada says business and consumer sentiment remained low during the third quarter of this year, citing high interest rates and higher costs as the main reasons. Economists predict inflation dipped below 2% in September Economists expect inflation continued…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Can T-Swift stop a T-cession? What’s next for Toronto’s flagging economy Toronto’s economic growth slows, prompting fears of recession. Experts cite global uncertainty, trade tensions, and housing market issues. Meanwhile, Taylor Swift’s upcoming concert is expected to boost local economy. U.S. port workers and operators reach deal to suspend…  Read more

Procrastination can be a formidable foe for small business owners. With endless responsibilities, it’s easy to fall into the trap of putting off important tasks for later. But fear not! Here are some practical solutions that can help you slay procrastination once and for all.  1. Eat the frog first Ever heard of the saying “Eat the frog first”? It’s a productivity hack inspired by Mark Twain’s advice to tackle…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Economists see Canadian soft landing even without jumbo rate cuts The Bank of Canada will be able to pull off a soft landing for the country’s economy without resorting to half-point interest rate cuts, analysts say. Taking the pulse of Canadian business: 5 of the most interesting things we learned this…  Read more

Working hard can only make you more money but does not grow your money or keep it safe. And that’s where investing comes into the picture: it fights inflation, grows money multiple times, and can help secure your future. Here we have curated a list of eight factors that you need to consider before investing: Understand your investment objective This is the first step. Decide what your main investment focus…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Despite good economic news, experts warn the pain’s not over yet After two years of interest rate hikes, inflation hit the Bank of Canada’s target of two per cent back in August. Touria Izri looks at what helped cool inflation, and the interest rates that economists are calling for.…  Read more

If your company is experiencing rapid growth, you might find yourself navigating a good news/bad news situation: while your sales figures climb, managing cash flow becomes increasingly complex, pushing you to seek additional financing to meet the rising demand. Consider this scenario: A well-known retailer expresses interest in your products, presenting an exciting opportunity that could significantly elevate your business. However, they have a requirement: they want a substantial discount…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Grocery habits may be returning to normal after inflation surge The head of one of Canada’s largest grocery chains says he’s seeing the early signs of consumer behaviour normalizing after years of trading down and cutting back in the cost of living crunch. Canadians should brace for recession because…  Read more

In the wake of the pandemic, many small business owners have become increasingly concerned about fraud. According to SAP Concur, a staggering 85% of businesses surveyed expect the risk of fraud to continue even after the pandemic. Making matters worse, many fraudulent acts originate from within businesses themselves. Below you will find some essential internal controls that you can implement to safeguard your business and mitigate the risk of financial…  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 cuts key interest rate again, signals more cuts ahead The Bank of Canada may adjust the pace of interest rate cuts if warranted, governor Tiff Macklem said after announcing a third consecutive interest rate cut. The quarter-percentage-point reduction was widely expected by forecasters, given ongoing softness…  Read more