Figuring out GST (Goods and Services Tax) and HST (Harmonized Sales Tax) is crucial for small business owners in Canada. This article breaks down what you need to know about these taxes, including who needs to register, how to file, and how you can save money through input tax credits. Read more…
In the bustling realm of entrepreneurship, steering a small business towards success is akin to navigating a ship through turbulent waters. Among the countless tools at a business owner’s disposal, budgeting emerges as a compass, offering direction amidst financial uncertainties. This blog elucidates the pivotal role budgeting plays in small Read more…
Bookkeeping is the backbone of any business, big or small. It’s the process of recording, organizing, and analyzing financial transactions to ensure a business runs smoothly and profitably. For small business owners, efficient bookkeeping is crucial. It not only helps in making informed decisions but also ensures compliance with tax Read more…
Starting a small business in Ontario? Congratulations! With the excitement of this new venture also comes the responsibility of managing its financial health. One of the foundational aspects of a successful business is sound accounting practices. Even if you’re not a numbers person, a basic understanding can go a long Read more…
Stay in the know: For small business owners in Ontario, staying updated on the minimum wage and overtime rules is crucial for maintaining a compliant and fair workplace. This blog post delves into the specifics of these regulations in Ontario, alongside a brief overview of the federal and other provincial Read more…
October is small business month, and that means it’s time to celebrate the hardworking small businesses that make our communities so vibrant. From the corner bakery to the family-owned hardware store, small businesses play a vital role in our economy. And while big box stores may have deep pockets, small Read more…
If you are a small business owner, you might be running your business from a personal bank account. You also might be asking yourself, “Should I use a business account or a personal account?” In this week’s YouTube video, we talk about the differences between the two and if/when you Read more…