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Make life easier with AI

AI (Artificial intelligence) has been both a huge disrupter and enabler for businesses of all shapes and sizes. (AI) is no longer just a pipe dream of science-fiction. It has become a vital aspect of today’s world and has meant businesses or employees can and are becoming more productive by leveraging the many AI tools […]

What is the difference between a contractor and an employee?

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What is a Trade Mark and how do I register?

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Essential bookkeeping practices for start-ups

Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It’s not just about keeping things tidy; it’s about understanding the financial […]

Avoid These 5 Costly Accounting Mistakes

A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key […]

Using financial reconciliation to keep your business on track

As a small business owner, you’re likely already aware of the importance of keeping your finances in order. Financial management goes deeper than paying your bills on time and collecting on invoices (although those are also important). It involves regularly checking up on your financial situation to make sure your accounts are in order, your […]

From Passive to Assertive: 7 Practical Tips to Transform Your Leadership Style

Leadership styles significantly impact team dynamics, productivity, and overall business success. While a passive leadership style may seem non-confrontational and agreeable, it often leads to unresolved issues, lack of direction, and decreased morale. Transforming from a passive to an assertive leadership style can be a game-changer for your business. Understanding Passive vs. Assertive Leadership Passive […]

Tax Season Tips for Small Business Owners

Preparing for tax season is really a year-round endeavor. Tip number one for SMB owners is to update financials on a monthly basis, using a streamlined software or cloud-based system. This way, come tax time, everything you need is all in one place. And well organized SMBs are better positioned to minimize their tax bill […]

The rise of AI-powered fraud: what you need to know and how to stay safe

Imagine receiving a call from what sounds like your boss, urgently requesting a fund transfer. Or maybe you’re asked to verify your identity using a government ID—except the person on the other end has a near-perfect AI-generated fake of your ID card. Scenarios like these aren’t far-fetched anymore. AI-powered fraud is growing rapidly, and both […]

5 Ways to Save Money for your Business

Looking for simple ways to cut costs? These tips will help you make a noticeable difference to your bottom line. 1. Reduce staff costs Without a doubt, having someone to help deal with routine tasks can greatly improve productivity. The rub is that hired help is often too expensive for small business owners. Internships can […]

What is Cost of Goods Sold (COGS)?

If you’re a small business owner or a startup founder, you’ve probably heard about Cost of Goods Sold (COGS). But what does it really mean, and why is it crucial for your business’s success? Understanding COGS isn’t just about accounting—it’s about making smart decisions for profitability, pricing, and more. This blog walks you through everything […]

Grow Your Email List Through Personal Contact

When your email list is small or you’d just like to add more people and get higher open rates, it’s smart to grow your list through personal contacts. Begin with the obvious: ask friends, family and business contacts to sign up. Everyone has a pool of people who might be happy to hear about your […]

How to Hire the Right Bookkeeper for your Business

“Outsource your weaknesses.” So says start-up guru, Sujan Patel, when advising small business owners to get outside help for tasks like payroll and bookkeeping. And when you consider that 70% of businesses fail due to poor in-house financial management, Patel’s advice seems spot on. Unfortunately, many small business owners seek to keep costs low by […]

Avoid a cash flow crisis with these simple tips

Managing cash flow is crucial for small business owners. Even if your business is profitable, poor cash flow management can create significant challenges. In this guide, we’ll share practical tips to help you avoid a cash flow crisis and ensure your business remains financially healthy. Understanding cash flow Cash flow refers to the money moving […]

Setting and tracking financial goals for small business success

Setting financial goals for your business may be one of your most important responsibilities as a leader and business owner. Your financial goals serve as far more than wishful projections, they form the backbone of your road map for success, internal and external. Financial goals are something that every single business should possess regardless of […]

Signs it’s time to upgrade systems

Most small business owners can’t afford to think small. They always need to keep their mind on growth strategies to help them achieve long-term profitability. But becoming profitable in the first place often requires business owners to work long hours on a shoe-string budget. They don’t always have time to implement systems that will support […]

Opening the books

Should you share your business’ financial performance with employees? There are two schools of thought when it comes to “open book management” – the decision to increase transparency by sharing your company’s financials with your employees. On the one hand, allowing staff to know the company’s revenue, profit, and projected sales can increase engagement, inspiring […]