Business

Wondering how to incorporate your business in Canada? Let’s find out the general steps involved to set up a corporation in Canada. 1. Decide if you need to incorporate your business? A lot of times people just go and incorporate their business without carefully considering multiple factors. Incorporating the business is one of many legal forms of doing business. You do have the option of...

Investor Pitch & Business Plans: Have you done TAM, SAM and SOM? Need Capital but having a hard time convincing the investors? Did you do the TAM, SAM, and SOM right? Taking a new business off the ground is a unique experience for everyone. Some of them have it seamless and others stride through various complications. Just having a great out-of-the-box idea would not suffice, it is equally...

Lenders and investors need to see the potential in a business and the credibility of those presenting before they invest in an idea, just like you would do thorough research before buying a house or a car. This is what makes business plans extremely useful and critical to raise loans and investments.  Even a small mistake in the business plan can cost you your potential investments. Lenders...

COVID-19 Economic Crisis is a historical event in making! In the future, this economic event of 2020 is going to be referred to alongside the great recession of 1932 and 2008. This will be always a case-study for how diseases and epidemics affect globally connected economies. COVID-19 crisis has certain unique differences from the previous global recessions. Whilst the 2008 crisis was...

How Small Businesses and Entrepreneurs can take advantage of COVID-19 situation – a Positive Perspective There is no doubt about the economic damage inflicted by COVID-19. It has wiped out the savings and growths in investment portfolios, bashed the seniors by wiping lifetime savings and gains in their RRSPs on top of health issues, sent the non-essential workforce to home, and put the...

The federal government of Canada has announced a 75% wage subsidy for employers. The purpose of this is to support businesses of all sizes to either re-hire laid-off workers or to not lay-off workers due to decreased demand. Previously the federal government had announced a 10% subsidy for small businesses, that subsidy is still in effect also. Canada Emergency Wage Subsidy has new rules...

Freelancing, full time or as a side-gig, is a very attractive way for people to generate income for themselves. With a lot of freelancing websites such as Fiverr and Upwork, more and more Canadians are using these platforms to make extra bucks. From an income tax point of view, is doing a side-gig good for you or not? It gives oneself the freedom to work at one’s own pace, with a...

An executive summary is a must for your business plan. In fact, it’s what your business plan begins with, capturing the essence of your business concisely. It highlights the main points of your business plan and includes key objectives and purposes. Getting your executive summary right is crucial. The summary should make investors curious to know more about your business. However, the...

When you are writing your business plan for a startup or an established business, you need to be clear about your audience. Who are you selling it to? Who are your ideal customers? You need to take a look at everything from the demographics to the psycho-graphics and even the special characteristics, if any, of the audience in question. When done right, the market analysis section of your...

Preparing a good business plan is a time-consuming task that requires dedication and far-sightedness. Many entrepreneurs choose not to craft a business plan before going ahead with the execution of their idea since it is a time-consuming affair. However, research has shown that business plans can give positive returns in the long run, ensuring your business does do more than just staying...