Articles
Small business leadership traits to master
For any business endeavor to succeed, you need a solid leader who possesses a specific set of traits. In larger corporations, leadership has always been a highly discussed and celebrated topic. But what about leadership in small businesses? SMB owners are typically thrown into the fire as leaders and expected to adapt quickly. With your…
Recruiting tips for Canadian SMB owners
In February, the economy added 336,600 new jobs (2/3 being part-time jobs) and the jobless rate fell to 5.5%, reaching pre-pandemic levels. Employment in Canada is gaining momentum and with your business quickly regaining traction due to Covid-19 restrictions being lifted, things are looking promising! But there’s one problem. You need to hire new staff…
Tax season 2022: A guide for Canadian SMB owners
Tax season is officially here. If you’re new to the Canadian small business environment, you may be unfamiliar with the tax laws that apply to small businesses and self-employed individuals. Just like employment income, income from your small business is subject to taxation. In Canada, small businesses and self-employed income can be defined in many…
Optimize your SMB for a post-pandemic world
With some countries already removing Covid-19 restrictions entirely and talks of learning to live with the virus, small business owners are now wondering how they can optimize their business to succeed in an eventual post-pandemic world. It comes with no surprise; small businesses were affected by the pandemic and experienced an unprecedented pace of change.…
What cybersecurity means for SMBs
The Covid 19 pandemic has brought on several changes in the way SMBs do business. More and more, we’re seeing Canadian SMBs embracing digital tools and technologies to better serve their customers. In fact, a new study from PayPal Canada shows that 47% of Canadian small businesses started selling online in 2020. While digital transformation…
SMB strategies to manage inflation
With ongoing supply chain issues and the Omicron variant taking our country by storm, a lot of uncertainty remains for 2022. One major uncertainty is inflation. Much of the current inflation is due to significant imbalances between supply and demand for goods and services. In 2021, we saw a surge in consumer demand and a…
SMB hacks for improving cash flow
Managing cash flow. As an SMB owner, those three words may seem daunting at first, and we don’t blame you. Research shows 64% of Canadian small business owners are burdened with cash flow issues. If you can efficiently manage your cash flow, you will have much more available capital to play with. This comes with…
How to make your SMB sustainable
More and more, we’re seeing small business owners and entrepreneurs wanting to contribute to a sustainable economy. Small business owners and their employees are now in a position to make a difference and to seize this opportunity to build and grow an economy that’s sustainable. By doing so, they will cater to a larger audience,…
Content to enrich your SMB’s social media
Where do I Start? Social media is continually changing the way that we communicate and consume information. Today, quality content is the foundation and at the heart of any successful social media strategy. As a small-business owner, it can be challenging to dedicate time creating engaging and entertaining content. It’s also extremely competitive, 93% of…
Term loan vs. line of credit – How are they different?
A fixed term loan provides a lump sum of money that a borrower pays back with interest over an agreed-upon period. A line of credit, meanwhile, provides access to a sum of money that you can use as needed. Both options can provide you with funds in advance so that you can use them immediately. As…
3 key tips to building a successful business
In a recent interview by Smarter Loans, David Souaid, CRO at Journey Capital, was asked to share some advice on building a successful business. Although there is no exact recipe for creating a successful company, there are some things every entrepreneur can do to build a strong foundation for their business. David shared 3 key…
Getting started on TikTok: Small business tips
What is TikTok and why should I join? As the most popular app downloaded in 2020, chances are you’ve heard of TikTok. Since its launch, the app has exploded in popularity and now has over 1.1 billion active users worldwide. TikTok is a short-video platform, where creators can share content on any topic from comedic…
What is collateral and do I really need it for a business loan?
Traditionally, collateral has been considered an important part of qualifying for a small business loan. In fact, it’s one of the Five Cs used by many traditional lenders to help them evaluate a potential borrower. The term collateral refers to “an item of value used to secure a loan”. Traditional lenders, like banks, typically look for secure…
5 tips to create a successful loyalty program for your small business
From phone companies to cosmetics brands to coffee shops, the business world is swimming with loyalty programs. In fact, more than 90% of companies have some sort of loyalty program in place. Why? Because customers love them, and businesses can profit from them. The average consumer belongs to 14.8 loyalty programs and, done well, these…
4 creative ways to increase your small business revenue
Over the last year many small business owners have had to think outside the box. Many found innovative ways to drive revenue while their regular business operations were impacted by Covid-19 restrictions. Although some of these innovations were born out of necessity, SMBs can continue to take advantage of these new revenue streams post-pandemic. Here…