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3 Costly Mistakes Made with QuickBooks

I have compiled a short list of the top 3 costly mistakes small business owners make with QuickBooks. Believe it or not, these are simple yet costly mistakes.It doesn’t matter the industry, they all require the same information and I do believe profits are important to every business, with the exception of government and not…

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5 Things to know before buying a franchise

Everywhere you shop, you have seen a franchise. In fact, most businesses are franchises and are a popular way to start a business. However, before buying a franchise, you should know some things before buying a franchise. A franchise is a license to operate a franchisor’s business and name for a nominal fee and time.…

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The Cost of Hiring a Bad Employee

The cost of a hiring a bad employee can cost your firm big dollars, cost customers, and affect other employees. A bad hire can also affect your small business more significantly than it can a larger business. According to a survey of employers, 41% of companies say that at least one bad hiring decision cost…

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How to get Venture Capital Funding

Venture capital funding is when a private equity firm will invest money typically into small startup companies or medium-sized companies that have excellent sales growth potential. These companies are comprised of experienced investors who take large calculated risks. Like many small to medium sized business owners, you have no idea of what venture capitalists are…

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THE CHEAPSKATES GUIDE TO BACK TO SCHOOL

It’s back to school time and have no fear parents, there is hope for your wallet yet. After scouring the internet, this year’s back to school need not cost you a fortune. Full disclosure, I am a cheapskate. Here are some cheapskate ways to keep more money in your wallet. No, you will not look…

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How Safe is Your Data?

How safe is your data? Facebook recently announced they were hacked, again, is as many months. Hackers are gaining access to sensitive documents held on virtual drives or local servers, locking them up and holding the data for ransom. The result is that business owners have to pay the hackers a fee or ransom to…

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When Should I Incorporate My Business?

When should a business owner incorporate? This question comes up a lot in my practice. The answer to this simple question is complex. Therefore, I have to say, it depends on your own individual tax situation. I hate giving vague answers, however; everyone’s tax position is different. Ask five accountants in the GTA that same…

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Is Employee Engagement a Myth?

LOYAL PRODUCTIVE AND HAPPY EMPLOYEES Is employee engagement a fad? Some companies operate like Darth Vader where sometimes there is a “disturbing lack of faith”. Other times companies are managed like the scene from Star Wars where Darth Vader is holding a rebel by the throat demanding to know where the plans for the death…

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How to Stay on Budget as an Entrepreneur

Trying to stay on budget, especially when starting out is challenging. Why is that? What can an entrepreneur do to change that? Budget? What budget? These, are some of the questions I get as a professional bookkeeper practicing in the GTA. ┬áIt’s, not rocket science, but rather self-discipline.   Why is it Difficult to Stay…