In Part 1, we covered the basics of capital assets, depreciation, and CCA. Now let’s take a closer look at how CCA works in practice, and the rules that can help small business owners in Ontario.
As digital payments become the norm for small businesses across Canada, fraudsters are constantly evolving their tactics. One growing threat is the fake Interac® e-Transfer deposit scam, where scammers send phishing emails or texts posing as legitimate payment notifications.
If you’ve ever applied for a car loan, mortgage, or credit card, you know the importance of a good personal credit score. But if you’re a business owner in Canada—whether operating as a sole proprietor, in a partnership, or through a corporation—your business credit score can be just as crucial to your financial success.
If you have a home-based business or work from your home, you should consider getting business insurance. Business insurance can protect you against loss or damage to physical property or the loss of your business's ability to operate and generate income. Home or tenant insurance will generally not pay for claims related to a home-based business.
As a small business owner, navigating uncertainty is part of the job. Market shifts, evolving customer needs, and technological changes can all impact your operations. That’s why having a solid strategy to anticipate and plan for the future is crucial—and that’s where financial forecasting comes in.
For small business owners, financial forecasting isn’t just about crunching numbers—it’s a powerful tool that can help you navigate the future with confidence. By predicting revenues, expenses, and cash flow, forecasting provides insights to guide decisions, manage risks, and plan strategically.
In this blog, we look at four common types of financial forecasting and explore how they can support your business’s growth and stability.
In Part 1, we discussed why business valuation is important and what information is needed to get started. Now, let’s explore the methods used to value a business in Canada and the common mistakes that business owners often make during the process.
When it’s time to sell or transfer ownership of your business, one of the most important steps is to get a clear valuation. A proper valuation not only helps set a fair purchase or selling price, but it also informs your broader business strategy and tax planning. Understanding the value of your business is crucial to securing the best possible outcome in a sale or transfer.
