1. Money
Send to a Friend via Email
Susan Ward

Small Business: Canada

By

Follow me on:

Help! Online Businesses Are Killing Mine!

Wednesday April 16, 2014

Is this the way you feel because there seem to be so many people selling products and/or services online similar to the ones your small business offers - without having even half the overhead you have as a bricks-and-mortar business?

closed

Then you'll want to read this article about 5 Ways Small Businesses Can Compete With Online Businesses so you can start fighting back.

More on Competing

Image (c) Sean Ellis / Getty Images

Connect With Susan:
Facebook | Google+ | Twitter | LinkedIn | Free Newsletters

7 Ways to Make Your Business Thrive in Tough Economic Times

Tuesday April 15, 2014

What would you do if your most popular products were suddenly as popular as typewriters?

tornado column in a rural landscape

Or if most of your customers suddenly lost their jobs all at once?

Bad economic times aren't necessarily something that you see coming for a long time, like low grey clouds on the horizon. They can also be something that hits someplace like a tornado that no one saw coming.

And small businesses are much more vulnerable than bigger ones.

Read 7 Ways to Make Your Business Thrive in Tough Economic Times to learn how you can protect your small business.

Learn More About Good Business Management

Image (c) Cultura Science/Jason Persoff/Stormdoctor/ Getty Images

Connect With Susan:
Facebook | Google+ | Twitter | LinkedIn | Free Newsletters

About Small Business Canada: Weekly Roundup Apr 8 to Apr 14

Monday April 14, 2014

What went on last week at About Small Business Canada? Here's your round-up of last week's new articles and posts on the website so you can catch up with anything you've missed!

Posts & New Articles

What's It Really Like to Be an Entrepreneur?

Are You Declaring All Your Business Income?

Target Your Market Before Marketing

Leadership Styles and Your Business

Two Things You Need to Know If You Haven't Filed Your Canadian Income Tax Yet

18 Pet Business Ideas

About Small Business Canada: Weekly Roundup April 1 to April 7

What's It Really Like to Be an Entrepreneur?

Sunday April 13, 2014
"Being an entrepreneur is almost as much about giving things up as it is about getting things done. An entrepreneur does not enjoy as much family time as the average person. An entrepreneur does not play as much golf or engage in as many other leisure activities. A successful entrepreneur must constantly be thinking about the business and working toward objectives." - Ted Rogers, explaining his keys to success in an excerpt from his autobiography, Relentless: The True Story of the Man Behind Rogers Communications by Ted Rogers with Robert Brehl ("Five Easy Secrets", Maclean's, October 6, 2008)
12 facts about starting a business in Canada.
If you're still wondering if starting a business is for you, you'll definitely want to mull over the quote above and read at least the rest of the Maclean's excerpt. What Ted Rogers says about being an entrepreneur will give you a real flavour of what being an entrepreneur is like.

You don't necessarily have to be as laser-focused or as much of a risktaker as Mr. Rogers, but you do have to be prepared to be commited to your business and willing to put in the necessary time to make it thrive.

Do you have what it takes? Take the Are You Ready to Start a Business? Quiz and find out.

Learn More About Being an Entrepreneur

Image (c) Maguey Images / Getty Images

Connect With Susan:
Facebook | Google+ | Twitter | LinkedIn | Free Newsletters

Are You Declaring All Your Business Income?

Saturday April 12, 2014

Most people know that they have to declare their entire world wide income on their Canadian income tax each year.

But when it comes to business income, there seems to be some confusion.

Three chickens.

For instance, I get a fair bit of email asking me how much money someone has to make before "it counts", presumably meaning before they have to declare it on their income tax.

The answer is "Any".

There's no sort of "gimme" threshold below which you don't have to count income as income and therefore don't have to declare it.

And actually, even barter counts!

Learn what is and isn't business income here.

Because of the penalties for filing a false return, you'll definitely want to make sure that you're reporting all the income you made in the relevant tax year. (The link just given gives details about these, too.)

Read More About Canadian Income Tax

Image (c) Grove Pashley / Getty

Connect With Susan:
Facebook | Google+ | Twitter | LinkedIn | Free Newsletters

Target Your Market Before Marketing

Friday April 11, 2014

It's a big marketing mistake to assume that everyone is interested in our products or services.

As Marilyn Guille says in How to Find and Sell to Your Target Market,

"The most successful small businesses understand that only a limited number of people will buy their product or service. The task then becomes determining, as closely as possible, exactly who those people are, and 'targeting' the business's marketing efforts and dollars toward them."

These people are our target market.

So my first question to anyone asking about what marketing strategies or advertising techniques would work for their business is "What's your ideal client or customer like?" That person represents your target market.

Writing a Business Plan: The Market Analysis will guide you through the process of figuring out your target market.

Only after you've identified your target market can you Create an Effective Sales and Marketing Strategy and put together an effective Marketing Plan.

Bone Up on Marketing Basics

Image (c) Sami Sarkis / Getty Images

Connect With Susan:
Facebook | Google+ | Twitter | LinkedIn | Free Newsletters

Leadership Styles & Your Business

Thursday April 10, 2014

Current events have me thinking about leadership again.

Business owner of a retail clothing store

Like many people, I tend to think about leadership simplistically in terms of good leadership and bad leadership. Who doesn't recognize bad leadership when they see it?

But leadership is actually considerably more complicated. There are different leadership styles (About.com Psychology), none of which are inherently good or bad in themselves, although any leadership style can be poorly executed or abused.

It turns out that what I think of as "good" leadership is closest to Transformational Leadership (About.com Psychology), a type of leadership style that leads to positive changes in those who follow.

Certainly in terms of managing a business, I see this leadership style to be the most beneficial.

What do you think? Is there a "best" leadership style for managing a business? And if so, is this the one?

Read More About Leadership in Business

You might also enjoy these Quotes on Leadership in Business.

Image (c) Andy Sotiriou / Getty Images

Connect With Susan:
Facebook | Google+ | Twitter | LinkedIn | Free Newsletters

Two Things You Need to Know If You Haven't Filed Your Canadian Income Tax Yet

Wednesday April 9, 2014

There are two things you need to know if you operate a Canadian business and haven't filed your income tax yet:

woman sitting on the floor surrounded by piles of tax receipts.

1) Even though self-employed people have longer to file their Canadian income tax (until June 15th), they don't have longer to pay whatever Canadian income tax they owe; you still only have until April 30th to pay your income tax.

2) There are late-filing penalties if you don't file your income tax return on time. (The standard late-filing penalty is 5% of the balance owing and an additional 1% of the balance owing for each full month that your return is late, to a maximum of 12 months - but if you haven't filed for several years, the penalty for filing your Canadian income tax late could even be higher.)

So you'll want to at least make a "guesstimate" and pay what you think you're owing by April 30th, even if you're not able to get your income tax filed by that date.

Read More About Canadian Income Tax

Image (c) David Sacks / Getty Images

Connect With Susan:
Facebook | Google+ | Twitter | LinkedIn | Free Newsletters

18 Pet Business Ideas

Tuesday April 8, 2014

Canadians and Americans are pet crazy. How crazy? Enough to spend approximately $53 billion on them in 2013 - and that's just in the U.S.

So a pet business can be a great pick for starting a business. You get to combine your love of animals with a potentially very lucrative venture.

A galloping golden retriever

Marianne Bertrand, for instance, started her dog boots company, Muttluks Inc., from her Toronto home with $700, initially selling the boots in plastic baggies at four pet stores close to her home.

Today, Muttluks operates out of an 11,000-square-foot facility in Toronto, employs up to 35 people during peak production periods and sells through pet retailers throughout North America as well as online. Read more profiles of successful pet businesses in this Globe and Mail article.

And if you're interested in starting a pet business of your own, here are eighteen pet business ideas to choose from.

More on Starting a Pet Business

Image (c) Martin Ruegner / Getty Images

Connect With Susan:
Facebook | Google+ | Twitter | LinkedIn | Free Newsletters

About Small Business Canada: Weekly Roundup April 1 to April 7

Monday April 7, 2014

Think you may have missed something this week at About Small Business Canada? Here's your round-up of the past week at About Small Business Canada so you can catch up with all the new articles and posts!

Posts & New Articles

Are You a Contractor or an Employee?

Business Ideas: There's Money in Those Boomers

8 Easy Ways to Get Your Small Business Into Ecommerce

Tips for Selling More at Trade Shows & Craft Fairs

Top Canadian Tax Software

Time Management Tips for Spring

About Small Business Canada: Weekly Roundup Mar 25 to Mar 31

Connect With Susan:
Facebook | Google+ | Twitter | LinkedIn | Free Newsletters
Top Related Searches

©2014 About.com. All rights reserved.