Financial Literacy

Is Canada currently in a recession? Although some small businesses have seen a pullback in sales, technically speaking, we aren’t in a recession just yet. And in most cases, we don’t know we’re in a recession until it’s over. A…

The current high interest rate environment is taking a toll on both consumers and small businesses alike. In March of 2020, borrowing rates in Canada were lowered to nearly zero and despite Covid restrictions, low-cost money starting flowing into SMBs. Fast forward…

With talks of a recession on the horizon, is your small business in a position to succeed regardless of what the future has in store? Understanding and monitoring the current state of your business’s financial health is key to navigating…

Tax season is officially here. If you’re new to the Canadian small business environment, you may be unfamiliar with the tax laws that apply to small businesses and self-employed individuals. Just like employment income, income from your small business is…

With ongoing supply chain issues and the Omicron variant taking our country by storm, a lot of uncertainty remains for 2022. One major uncertainty is inflation. Much of the current inflation is due to significant imbalances between supply and demand…

Traditionally, collateral has been considered an important part of qualifying for a small business loan. In fact, it’s one of the Five Cs used by many traditional lenders to help them evaluate a potential borrower. The term collateral refers to “an item…

A solid bookkeeping system is an essential part of running a successful business. No matter how big or how small your business is, it’s critical that your books are updated, accurate, and readily available. Doing this provides you with crucial…

When considering your small business financing options, you’ll want to determine the associated costs of every alternative. Although this may seem straight forward, pricing is often presented differently depending on the company or the type of financing product you are…