Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada’s hot housing market ‘settling down’ amid rate hikes, new listings A return to Bank of Canada interest rate hikes and growth in new listings started to cool off the housing market in June, according to the Canadian Real Estate Association. Here’s what could send the Canadian dollar higher… Read more
No matter what size your business is, or what industry you’re in, supply chain management is often an essential part of running a successful business. As a small business owner, managing the supply chain can be overwhelming and time-consuming, especially when you have many other responsibilities to worry about. Fortunately, technology has made it easier to manage your supply chain more efficiently and effectively. Here are some pros and cons… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Struggling mortgage holders could see lenders waive fees under new guidelines Ottawa has published a new set of guidelines to standardize how Canada’s federally regulated lenders offer mortgage relief to consumers struggling under the weight of higher interest rates. Canada unexpectedly posts largest trade deficit since 2020 Canada’s merchandise… Read more
As a small business owner, you may be considering enabling a remote work environment. With the rise of technology and the pandemic shifting the way we work, managing a remote team has become a popular option for business owners looking for new and unique ways to grow their business. However, there are both benefits and drawbacks to consider before making the switch. We’ll start with the benefits. A larger talent… Read more
There are lots of ways businesses waste money. At BDG we have worked with a number of different businesses in varying industries, so we have seen it all! Usually, we start a business with the goal of making money or earning income, but with so many different responsibilities to juggle when running a business, some money can fall through the cracks. So what money-wasters have we seen most often? We’ve… Read more
First, we just have to say, we love ecommerce accounting! And not because it’s easy. We know there are a number of challenges that ecommerce businesses face when it comes to their accounting. We do love a challenge! But we also love providing ecommerce accounting services that are tailored to each business. There are so many efficiencies made possible with cloud accounting and our ecommerce accounting services work for so… Read more
Bookkeeping can be a struggle for business owners. While some business owners have the budget to hire a bookkeeper, or engage an accounting firm to handle their bookkeeping, many simply don’t have the funds to do so. As a result, they end up doing the bookkeeping themselves (and not always well). We’ve seen a lot of issues with bookkeeping in the past, and honestly, just a general lack of… Read more
Everyone dreads the moment they receive a business audit letter from the CRA. Let’s face it, unless it’s a letter with a refund amount on it, a letter from the CRA is an unwelcome surprise. But it doesn’t have to be so nerve-racking! We erase common worries like, the chances of getting audited by the CRA, or the common audit triggers and how to avoid them, and we let our… Read more
Saving money can be as fun as trying to get your office dog to stop tearing apart the office piñata you bought for your admin assistant’s birthday. But with these 5 free apps to save you money in your small business, saving money is about to get more exciting. Check them out here… 1. Wave Apps If you are a small business that writes invoices on Word, Excel or on… Read more
Have you ever wondered why Shakira from work responds well to suggestions thanking you for your time, but Ricky on the other hand responds poorly to feedback and responds by staring blankly at the new office Nespresso machine? Well, according to Gretchin Rubin, New York Time Best Selling author of The Four Tendencies, we all respond to expectations differently. We all face two kinds of expectations: Outer expectations, such as… Read more
It takes a certain type of unique, iron-clad grit and tenacity to be a business owner. This is because entrepreneurs face very low odds of succeeding compared to an employee: In fact up to 90% of start-ups will fail according to Forbes.com. So what is it that the 10% of successful business owners are doing to set them apart from the rest? Here are 4 characteristics of successful business owners:… Read more
If you’ve ever been in a meeting where the projector isn’t working, the coffee is cold, and you are extremely, extremely bored, you will appreciate the excitement a little efficiency can put in the air to make your office run more smoothly. Here are some snazzy products that will make your small business more efficient! 1. Miroir Mini Projector, $169.99 Throw your dusty projector out the window (or put it… Read more
Many folks want to become entrepreneurs because they are enticed by the control over their workday, the lack of a 9 to 5, and no cap on a yearly salary. But in reality, starting a small business can be an emotional rollercoaster. It can take up to two or three years to break even for a start up, new entrepreneurs can end up working up to 60 hours a week,… Read more
Hide the stale Christmas cookies at the back of your office fridge, and throw the fake Christmas tree out of the window, it’s time for some new and snazzy ideas to spruce up your Christmas holidays at your small business office this year. Here are 5 products to ask for this Christmas for your office! 1. Grinch edition BarkBox for your office dog If you have office dogs, real or… Read more
Accountants, like office coffee machines or sweaters for your office dog, can vary in quality from drab to fab. And in the same way you don’t want coffee machines or dog sweaters that break down in the first year, even though you were offered a free milk frother with them, you want to find an accountant who can work with you for the long haul and save you money. If… Read more
If you’ve ever been disengaged at a job, it can be a pretty empty feeling. It can vary in intensity from feeling bored, and not putting your maximum effort into a job, to feeling a pit in your stomach on Sunday evenings as you don’t want to go into a job the next day where what you do doesn’t serve your values. According to Gallup’s State of the Global… Read more
One of the easiest ways to make big improvements in your business or life is to follow the Japanese theory of constant never-ending improvement. This means making small changes everyday which eventually produce big changes over time. For example, in your personal life, this could mean taking your office stairs instead of your elevator everyday. This may not seem like a big change to your daily life, but after a… Read more
You’ve done it. You’ve produced _____ (fill in the blank here), and sold it to your client. They are happy. You are happy. Your office cactus is happy. And now it’s time to receive your cash so you can spend it on something wonderful like cloud accounting, hiring an intern, or ordering another office cactus. BUT, how do you know your client will pay? Have they remembered they owe you… Read more
The office plants and moons have aligned: You’ve started a contracting business. Now it’s time to put away the office piñata and hide the broken vase from your office celebration party, because it’s time to respond to client requests. Very much like dating, when you are ready, you will get a wide gambit of potential suitors for your small business. The trick is to be selective about who you accept.… Read more
Have you ever wondered why some people can thrive after life’s dramatic challenges and others mentally collapse? According to Jim Loehr, a performance psychologist and Paul G. Stoltz, Chairman of the Global Resilience Institute, working in peak performance and maintaining resiliency needs to be practiced. For example the average professional athlete spends most of his or her time practicing and only a small percentage actually competing. However the typical executive… Read more