Beverlee Rasmussen CEC PCC If not to make a profit then why are you working so hard? The most common question about profit asked by small business owners is: “why when my books show that I made a profit don’t I have any money in the bank?”. Do you know where your money went? Being fully familiar with your
Beverlee Rasmussen CEC PCC New entrepreneurs are often surprised by just how expensive it is to build and run a business. Without careful planning, your start-up money can evaporate before you have had a chance to make your first sale. To prevent this, know and understand the full start-up costs for your small business. Plan for every dollar you
Beverlee Rasmussen CEC PCC The startup stage of entrepreneurship holds a strange duality; you are excited to pursue this new venture and nervous that it may not work out. Perhaps you are itching to quit your job and dive into this business, but you haven’t made the leap yet because of the financial security your day job offers. You
Beverlee Rasmussen CEC PCC I often hear small business owners say they need help, but can’t afford to hire anyone. The 2022 Canada Summer Jobs grant is the perfect solution to that problem. Hire a talented student to work at your business for the summer and get up to 50% of their wages covered (100% for non-profits) by the
Beverlee Rasmussen CEC PCC Happiness in business… is that an oxymoron? Whoever is happy in their business must not be trying hard enough! Business owners should give every last bit of energy to their company. After all, the more you work, the more profits you’ll have, and the happier you will be, right? Red flag! This is not true!
Beverlee Rasmussen CEC PCC What taxes do small businesses pay? The answer depends on what country or region you are in, plus the type of business you have! No matter where you are, you have to pay taxes to someone. There are three types of taxes that most small business owners will have to pay: Sales Tax Payroll Tax
Beverlee Rasmussen CEC PCC Your expenses are where you have the most control over your small business finances, although it may not feel like it all the time. Here are some ways you can reduce expenses in your business. 1. Negotiate with your suppliers Are you getting a fair deal? Do your suppliers have your back? Have you negotiated
Beverlee Rasmussen CEC PCC Finances can be daunting to even the savviest entrepreneurs. Luckily, there’s a way to simply and strategically attack this fear. Instead of fixating on the overwhelming stack of bills, financial statements and invoices, you can make informed decisions about your business with just three financial reports. I’m not saying you should ignore everything else, but
Beverlee Rasmussen CEC PCC 50% of small businesses fail after their fifth year.* To beat the odds of business failure, you need to have fully up-to-date financial information. Gone are the days when you could get away with throwing everything in a shoebox and dropping it off to an accountant the night before your tax returns are due. Now
Beverlee Rasmussen CEC PCC *** FREE Bonus Resource: Jump to our business profit calculator. *** It’s unavoidable. You have to pay the bills. You have to keep the lights on. A business without profitability, no matter what the size, becomes a hobby. So how can you be sure your business stays as…well…a business? I always suggest having a reliable
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