A few months back, I contacted a leading association for small and medium businesses to inquire about becoming a membership. The person on the other end replied that she could meet me in half an hour to give me a presentation on how everything worked. I was so impressed by this level of service that I brought my checkbook to the meeting, ready to sign up. However, about an hour after our meeting, I walked out of the coffee shop, blank check in hand, and somewhat disappointed. So what happened? Read more »
I’m perhaps exaggerating just a little when I say ‘zero cost startup’, but the cost of starting a business has gone down drastically over the years, especially when it comes to IT. Many of the things that used to cost a fortune before is now available for free or even a small fee. Here is a list of free / low cost tools I’ve used or am planning on using in launching my startup. Read more »
The power of color struck me first hand recently as I was wandering the aisles of a local drugstore looking for a particular product: the Starfrit Chopper, a great a little kitchen aid that saves hours of manual chopping and slicing. I had a good idea in which aisle it might be. But as I almost walked past one of the aisles, I caught a bare glimpse (through my peripheral vision) of a color combination almost halfway down the aisle. I looked directly this time and started walking towards the product to read what was written on the box. Sure enough, it was the Starfrit Chopper. Read more »
About a month back, I attended a great workshop by Tina Serano, co-owner of Beavertails, the company behind the delicious pastry that goes by the same name (and no, it’s not actually a beaver’s tail…it’s just shaped like one).
Tina had some great quotes on the topic of branding and small business in general that I wanted to share with my readers. Branding, as its name suggests, refers to a company’s brand in the marketplace. How do customers view the company? Why do they choose to do business with them? Is it because of their low cost? Quality? Fast service? Read more »
BizLaunch is a company that offers consulting services to small businesses. Its two founders have launched a combined 17 companies over their careers; not bad considering most people have trouble launching and managing even one.
It uses an extremely creative way to market itself to prospective clients: its free BizLaunch seminars. Several times a month, in various cities around the country, it offers workshops on issues of importance to entrepreneurs. Read more »
For four days next week at the Complexe Desjardins in Montreal, people can take advantage of free personal legal advice. The individual consultations are part of the Montreal Bar’s annual Visez Droit event and will be available Monday to Thursday from 9:30 am to 4:30 pm. People are asked to bring along with them any legal documents that are relevant to their inquiries. The same event in 2008 attracted more than 1,000 people.
HP Canada has a great new offer to help out small businesses looking to invest in technology. There are two variations: the 0%, 12-month promotion plan allows small businesses to purchase their equipment for $1 at the end of the term. Alternatively, they can opt for the 0%, 30-month lease plan, which gives them a fair market value purchase option at the end of the term.
Both offers allow the financing of products between $5,000 and $150,000, and are available until April 30, 2009. The minimum amount is a bit annoying, but it’s still a good deal. As well, the promotion targets ‘established’ small businesses so start ups might not necessarily be eligible (though it doesn’t hurt to try). For more information, check out their site.
A recent survey by Visa revealed that 41% of small businesses surveyed believed they wouldn’t be targeted by hackers and data thieves due to their small size. A surprising 24% didn’t know where to obtain information on how to secure their business and 52% never sought information on how to secure their data.
All these facts in light of a recent warning by the Competition Bureau that fraudulent activity tends to increase during recessions. Small and medium sized businesses are especially vulnerable since they tend to be more aggressive in cost cutting measures in an economic downturn.
Don’t take security lightly. Whether it means changing your passwords or encrypting your data, do what you can to protect your business, even if it means spending a few extra dollars. It will pay off in the long run.
I read an article a while back about Andy Buyting, a young entrepreneur who, after taking over his parents specialty garden store, successfully ran it to the ground. He then proceeded to rebuild the business step by step. Andy published a book recently about some of the tough lessons he has learned along way. His full e-book can be purchased on his website. However, he is kind enough to provide the first 16 lessons he learned for free. Although the lessons can be applied widely, the book is of particular value to the small independent retailer.
Download free chapters
The Federal Budget was unveiled by the government a few weeks back. A few items of importance to small business owners include:
- An increase of the small business corporate income tax threshold from $400,000 to $500,000.
- A temporary CCA allowance rate of 100% for computers purchased after January 27, 2009 and before February 1, 2011. In addition, there will be an extension of 2 years of the temporary 50% CCA rate for any investment in manufacturing or or processing machinery and equipment.
- Greater access to credit through increasing loan amounts made available by Export Development Canada and the Business Development Bank of Canada.
