Category: Finance
5 tips for small business success in 2024
Looking towards the future is essential for small business success. But if this next year is anything like the past few, it will be both challenging and unpredictable. So how do you set your business up for success moving forward? Getting insight on emerging trends is the first step. Here’s five tips for your small…
2024 CEBA Repayment Guide: What you need to know
The latest Canada Emergency Business Account (CEBA) deadline for loan forgiveness has passed (January 18, 2024). However, if you applied for a refinancing loan on or before that date, you qualify for a special extension until March 28, 2024, to keep the forgivable portion of up to $20,000. If you didn’t apply for refinancing, you’ve…
Maximize opportunity with dual financing
When it comes to financing, every small business has unique needs. A one-size-fits-all approach often falls short of meeting these diverse requirements. That’s why we’re excited to introduce our latest dual financing feature: a solution that combines the benefits of Business Term Loans or Flex Funds Advance with the added flexibility of a Business Line…
Assessing the financial health of your SMB
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 an economic downturn. But when it comes to assessing your financial health, the influx of…
SMB payment methods to boost sales
Throughout the past decade, the different payment methods in which customers have been able to use with their favorite small businesses have evolved at an unprecedented pace. As a small business owner, it can be a complicated and costly experience to keep up with all changes happening in the world of payment solutions. This especially…
Tax season 2022: A guide for Canadian SMB owners
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 subject to taxation. In Canada, small businesses and self-employed income can be defined in many…
SMB hacks for improving cash flow
Managing cash flow. As an SMB owner, those three words may seem daunting at first, and we don’t blame you. Research shows 64% of Canadian small business owners are burdened with cash flow issues. If you can efficiently manage your cash flow, you will have much more available capital to play with. This comes with…
Term loan vs. line of credit – How are they different?
A fixed term loan provides a lump sum of money that a borrower pays back with interest over an agreed-upon period. A line of credit, meanwhile, provides access to a sum of money that you can use as needed. Both options can provide you with funds in advance so that you can use them immediately. As…
Business Financing for Retail Stores in Canada
With Canada’s unique mix of cultures, history and modern innovation. It’s easy to see why the retail industry is booming. From province to province we can spot little shops in small local communities and huge malls that offer some of the best shopping experiences in North America. Running a retail store as a small business…
Can A Business Loan Help My Auto Shop?
Injecting funds into any small or large business can be a great help if used properly. For auto shops, in particular, inventory management is a key ingredient to success. Since parts and equipment can be expensive, and revenue usually doesn’t come in until after the inventory is sold and the job is done. Hence it…
Build A Relationship With My Accountant
For many small business owners, the relationship they have with their accountant is very transactional. In other words, they meet with their accountant at year-end to file their taxes; and maybe on a quarterly basis to file their employee withholding or pay their quarterly estimated income taxes. At least that’s how I approached my accountant…
What is a Merchant Cash Advance
What is a Merchant Cash Advance? More than ever, small businesses are turning to alternative lending options to raise working capital. According to wagepoint.com this number rose by 60% from 2014 to 2015. A merchant cash advance is an alternative funding option that business owners can consider. Approval is largely based on the volume of…
Important Small Business Financial Metrics You Need to Know
I don’t think I’m alone when I suggest, that like many small business owners, I didn’t jump into business ownership because I was really excited about small business bookkeeping or accounting. I knew it was part of the deal, but it wasn’t the part of business ownership I was the most jazzed about. Nevertheless, there…
Financing Options for a Startup
With no history, no track record, and no revenue, borrowing capital for a startup can sometimes feel like searching for the Holy Grail. Nevertheless, there are options, but they might not be where you expect.
The easiest ways to build a strong business credit profile
It can sometimes feel like a Catch-22. Part of building a strong credit profile is responsibly using business credit, but obtaining that business credit so that you can responsibly use it is sometimes easier said than done—especially for young companies just getting started.