Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Over 2 million mortgage holders will face ‘interest rate shock’ in next 2 years: CMHC Canada’s housing agency is warning of a looming “shock” for borrowers renewing their mortgages as a new analysis shows the pain of higher interest rates is starting to put pressure on some homeowners. Canada Mortgage… Read more
As a business owner, have you ever been caught short of cash? What if I told you that the solution to your cash flow woes might be hiding in plain sight? Yes, you heard it right. Your business may already possess the funds you need, locked up in assets, stock, or your debtors. In this post, we’ll break down three areas you can check to free up funds within your… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Interest rates could stay higher for longer. What that means for your portfolio Higher interest rates have weighed on many Canadian’s portfolios so far this year. Here’s how fresh expectations for the Bank of Canada’s rate path might affect markets. Plateauing Canada’s immigration levels ‘step in the right direction,’… Read more
In the unpredictable world of business, finding a little certainty can make all the difference. While the future remains a mystery, tools such as budgeting and cash flow forecasting can significantly reduce the level of uncertainty, allowing you to anticipate challenges, learn from past events, and enhance your ability to navigate your business. Budget vs. Cash Flow: the crucial distinction A common misconception is that a budget and cash flow… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Why the Bank of Canada and other forecasters keep misreading the economy Abacus Data conducted a fascinating survey recently of smaller companies for Business Development Bank of Canada’s Small Business Week. Feds post $4.3 billion deficit as high interest rates grow public debt charges The federal government posted a… Read more
When it comes to running a thriving business, understanding and effectively managing your working capital is crucial. Essentially, working capital is the cash readily available for the day-to-day running of operations. The more protracted the business cycle, the higher the working capital requirement tends to be. Your goal? To ensure you have enough working capital on hand to cover operational expenses, with a reasonable buffer in place. How to improve… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Retail sales slowdown shows rate hikes ‘seem to be working’: economist Some experts say retail has always been a tough business, as the sector continues to face the perfect storm of challenges — including high interest rates and supply shortages. Statistics Canada says retail sales fell 0.1 per cent to $66.1… Read more
Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It’s not just about keeping things tidy; it’s about understanding the financial health of your business and meeting all your tax obligations. Don’t underestimate the basics Some… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada is in for a cooler winter in real estate as sales slow: CREA Home sales in Canada were down again in September as listings rose, the Canadian Real Estate Association (CREA) said Friday, also lowering its sales and price forecast. Record number of Canadians sour on state of economy as financial woes… Read more
In the world of business, one constant factor you are likely to encounter is change, particularly in the financial landscape. One such change that can bear significant implications for small businesses is rising interest rates. Understanding how this impacts your business and identifying solutions to counteract these effects can be key to sustaining and growing your business. The implications of rising interest rates for small businesses Interest rates have a… 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 warns of inflation ‘feedback loop’ Bank of Canada official Nicolas Vincent has warned there could still be significant hurdles when it comes to getting inflation back to the central bank’s target of two per cent. How interest rates will drive Canada’s housing market in coming months Lower… Read more
It’s hard to go a day without reading something in the news about the state of the economy. Whether it’s interest rates rising or the cost of living, there’s no getting around the fact that in 2023 there are many doing it tougher than a few years ago. But while there are some economic challenges for individuals and businesses, it’s important to not go too far down the rabbit hole.… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada’s economy was flat in July, new GDP numbers from Statistics Canada show Canada’s gross domestic product was essentially unchanged in July, as the service sector expanded slightly while goods-producing industries shrank. Statistics Canada reported Friday that the total value of Canada’s entire economy was essentially unchanged during the… Read more
As a small business owner, you’re likely already wearing many hats. But the hat of a financial analyst might seem a little oversized, particularly if your background isn’t in finance or accounting. However, understanding financial ratios can be a game-changer for your business, helping you assess your business’s financial health and make informed decisions. Financial ratios: what are they? Think of financial ratios as a thermometer for your business’s financial… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. B.C. port strike affected 17% of retailers with auto sector hit hardest Statistics Canada said the on-and-off strikes at BC ports in July affected 17 per cent of retailers. Sales at motor vehicle and parts dealers were the hardest hit, the agency said. Alberta to debate Canada Pension Plan,… Read more
In the business world, cash flow remains the lifeblood that keeps your operations running smoothly. Whether you’re a start-up finding your feet or a seasoned business, maintaining a steady cash flow can be quite a challenge. But a few small changes can make a world of difference to your cash flow and overall revenue. So, let’s dive into some practical strategies you can implement to boost your cash flow. Get… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. The unprecedented transfer of wealth and transformation in Canadian family businesses A significant transformation is on the horizon for Canadian family businesses, signalling an era of change and new thinking. With the next decade set to witness the largest capital transfer in Canadian history, today’s decisions will be pivotal… Read more
Creating a robust business plan is crucial to the success of any startup. It not just provides a roadmap for your business, but also helps to attract potential investors. Here’s a practical guide to help you put together your business plan. Gather Relevant Information Start by collecting all the necessary information about your business. This includes understanding who will run the business, who will advise you, and a thorough analysis… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada added 40,000 jobs in August — but it added 100,000 more people, too Canada’s economy added 39,900 jobs last month, about twice as many as expected, but also only about half as many as would be needed to keep up with population growth. Statistics Canada reported Friday that… Read more
Every business encounters financial challenges at one point or another. But when the going gets tough, just remember that you’re not without options. One practical strategy that can help you weather the storm is asset liquidation. Asset liquidation is a process of converting your business’s tangible or intangible assets into cash, providing you with the vital liquidity to bridge financial gaps until your business recuperates. However, this strategy demands careful… Read more