10 quick growth tips for your small business

Small businesses can grow in boom times as well as periods of difficulty by working smarter and taking advantage of opportunities. Put these following effective tips into practise to help grow your business.   1. Utilise new technology Modern technology can save you time, improve productivity and reduce your operational costs. Make use of Facebook, Twitter, Google+ and other social media tools to market your business. Dropbox is a cloud-based…  Read more

COVID-19 Business Update – 19 August 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Canadian Travel Ban Extended As the US continues to wrestle with the pandemic, border closures were extended for at least another month to contain the spread of COVID-19. Non-essential travel will be prohibited until September 21. Finance Minister Resigns Amid the Pandemic Finance Minister Bill Morneau announced…  Read more

COVID-19 Business Update – 13 August 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Pfizer Announces Deal for Experimental COVID-19 Vaccine Pfizer and BioNTech had signed a deal to supply Canada with an experimental COVID-19 vaccine. Deliveries of the vaccine candidate are planned over the course of 2021, subject to clinical success and Health Canada approval. The government said it would…  Read more

COVID-19 Business Update – 6 August 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Canada Extends Travel Ban to August 31 Canada has recently extended the travel ban for most foreign travelers to August 31, and launched a new contact tracing app to fight the COVID-19 pandemic. Canada has a separate agreement for border controls with the United States. Last month,…  Read more

10 more quick growth tips for small business owners

Help grow your business through collaboration, expansion, improved marketing and some of the following quick tips. 1. Improve your customer service Businesses with good customer service retain consumers and attract new business through word-of-mouth. Even if you think you’re already providing good service, make it a priority to provide refresher training to frontline staff at least once a year. Alternatively, hold regular meetings to discuss any issues as they arise.…  Read more

Easy ways to build an online business

More and more people are leaving their office jobs and setting up an online business these days, especially because of COVID-19/ Running an online business offers a way for you to work from home and be your own boss. It may sound like an overwhelming process, but many entrepreneurs find it fulfilling. Here are some tips to increase the chances your small online business will be a success, and you’ll…  Read more

From Apple to Avon: six inspiring marketing successes

From Mac computers to make-up, here are six examples of super-strong brands that cornered their markets using different marketing strategies. If you look at their histories and analyze the pivotal moments, you’ll find parallels and pick up tips on how your company can follow in their footsteps and stand on the shoulders of giants.   Apple’s call to arms Anyone who remembers Apple’s computers from the 1980s knows its brand…  Read more

5 Things a Great Business Name Should Do

A great business name isn’t just a label for your company. It is also your number one marketing tool, serving as a platform for setting yourself apart and defining your brand. At the very least, your business name should do the following.   Convey the industry or area of expertise of your company When customers search for businesses, they apply some filters to determine whether specific organizations are relevant to…  Read more

COVID-19 Business Update – 22 July 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. What You Need to Know About the New Extended Canada-U.S. Border Closure On July 16, Canada’s PM Justin Trudeau announced that the Canada-U.S. border closure will be extended until at least August 21. The announcement comes as COVID-19 cases continue to rise in the U.S, whereas Canada…  Read more

Ways to benchmark your business

For many business owners, determining the success of a business comes down to how much profit the company makes. Of course, finances are an important measure of an company’s overall success. If you don’t bring in more than you spend you won’t be in business for long. Profit, however, isn’t the only important benchmark by which to measure your business. There are other important factors business owners can and should…  Read more

How your business can thrive even in a recession

The pains caused by a recession can be excruciating, which is why most of us dread the thought of it. A recession can mean massive layoffs, jobs becoming harder to find, and wages frozen, which means consumers hunker down and spend less– often worsening the economic slowdown unknowingly. For most businesses, especially small businesses, recessions can be brutal. Just take for example, the Global Financial Crisis (GFC) that struck the…  Read more

Using KPIs to monitor and improve business performance

The key performance indicators (KPIs) for one company will invariably be different from the KPIs of another firm.  What both hypothetical companies share however, is the challenge of selecting which KPIs are best suited for measuring the goals and progress of their particular business model. Indeed, entrepreneurs have a vast array of reports and data sets from which to choose and select from, but that data needs to target those…  Read more

Bookkeeping Basics for Small Business Owners

On average, small business owners spend 10 hours each week recording, organizing, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. While the process may be time-consuming (and tedious!), effective bookkeeping is the foundation of sound financial management – which in turn, is the lifeblood of your business. Feeling overwhelmed by mountains of paperwork and complex calculations? Here are three…  Read more

Business lessons learned during COVID-19

If you’re like many small business owners you’re probably astounded by how the world has changed in a very short time. While we can all hope that the pandemic is a once-in-a-lifetime scenario, the truth is there is a lot in life and in business that is uncertain, and there is a great deal we can learn from the response to COVID-19 to help plan for the future. Yes, your…  Read more

Battling Through COVID-19: Finance Tips for Business Survival

We’ve heard this before: the COVID-19 pandemic is an unprecedented global health and financial crisis that has caught many off guard. While the threats to human life are very real, the damage to the health of businesses is really just starting to show. The seriousness of the disease and the lack of a vaccine (at the time of writing this) have prompted governments around the world to impose strict measures…  Read more

COVID-19 Business Update – 17 June 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Helping Businesses Go Digital As many businesses continue to feel the impacts of COVID-19, the Ontario government has partnered with the federal government to help businesses reach more customers with a $57 million investment in Digital Main Street, which will help up to 22,900 businesses in Ontario…  Read more

COVID-19 Business Update – 27 May 2020

Welcome back to our Weekly Digest. We hope you and your family are doing well. Read on for this week’s update. Expansion of CEBA emergency business loans Last week the Prime Minister announced the expansion of the Canada Emergency Business Account (CEBA). The PM said “if you are the sole owner-operator a business, if your business relies on contractors, or if you have a family-owned business and you pay employees…  Read more

Questions to ask as your small business recovers from COVID-19

As small business owners look to operations after COVID-19, there are some important business questions to ask. These questions will help you determine what adaptations you want to keep, whether your business model is working, and if there are additional changes you want to make to keep your company operational through future economic downturns. It’s not always fun to do this sort of examination, but the answers to these questions…  Read more

Tips to continue marketing on a shoestring budget

As many business owners are experiencing, the COVID-19 pandemic has created serious financial difficulties for entrepreneurs. Small businesses especially are faced with cutting their budgets so they can continue to operate—even at a smaller scale—and not have to close for good. They also have to figure out how they can market themselves so once the pandemic is over, their customers and clients come back to them. During a financial crisis,…  Read more

How to build a cash war chest when money is tight

Your “war chest” is the financial reserve your business has built up so you can take advantage of an opportunity or cover unexpected costs or emergencies. Building a cash reserve when finances are tight, however, can be difficult. You need money to continue running your business but, if at all possible, you want to keep your reserve account healthy. Here are some ways to build—or preserve—a cash war chest during…  Read more

Want to grow your business? Our Free Resources will Help