My favourite definition of resilience is the ability to get up one more time than you are knocked down.
There are pros and cons to incorporating a small business, much of which depend on your individual situation. But, in my experience, far too many business owners fail to ask their accountant about whether or not to incorporate.
Spring represents a time of renewal—a welcome opportunity for small business owners to shake off the winter and embrace what’s ahead. As you know, we’re not just your ordinary Newmarket accountants; we’re about so much more than taxes and compliance.
With tax season hot on our heels, many business owners are turning to their accountants for a better look at their financial performance. We all want to see how we are doing before paying our taxes (after all, profits must be made for taxes to be paid), but this is a great time to go over what your goals were in the last year and take your current performance goals into consideration.
Changes to Ontario’s workplace laws have been the source of fury for many small business owners recently. As of January 1st, the province’s minimum wage increased to $14 per hour—up from $11.60—with an additional dollar increase due in 2019. A lot of small business owners seem to view this increase as a hit to their bottom line, with many grappling with the idea of raising prices, or cutting staff in order to balance the books.