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Hiding from the bank? Here’s what you need to know

Hiding from the bank? Here’s what you need to know Banks can be a small business owner’s best ally, providing financing for big projects and helping to ease cash flow for day-to-day needs. But when the books are in the red and unpaid bills keep piling up, a letter or...

Ontario’s minimum wage increase has an impact on Small Businesses

The low down on a higher minimum wage: What it means for small business Two dollars and forty cents may seem like small change. But for Ontario businesses, this amount could spell the difference between staying successful and struggling to stay afloat. That’s because...

When Bringing in the Professionals Makes Clear Business Sense

When Bringing in the Professionals Makes Clear Business Sense Entrepreneurs are an independent lot who aren’t afraid to roll up their sleeves and do whatever it takes to make their company succeed. For those with young or small businesses, this often means doing most,...

Restructure or do nothing? Taking action now may save your business

Restructure or do nothing? Taking action now may save your business Building a business takes an enormous investment of time, money and passion. So when their venture gets into financial trouble, it can be hard for business owners to acknowledge the problem. Some...

Danger Ahead: 6 Signs of a Struggling Business

Danger Ahead: 6 Signs of a Struggling Business From brand awareness to operational efficiency, so many factors can make or break a small business. It’s no surprise that thousands of companies fail each year. According to the latest figures from Statistics Canada, in...

Does a Small Business Bankruptcy Affect Me Personally?

How does a small business bankruptcy affect me, the business owner? We hear a lot of questions when small business owners come in to discuss their finances and the future of their businesses. Probably the most important question, and the one we are most sensitive to,...

Top 6 ways to protect yourself if your business fails

How Business Owners Can Protect Themselves if their Business Fails No one wants their business to fail. Business owners go into business with dreams of success and profitability. However, for a number of different reasons, it doesn’t always work out. Unfortunately,...

How do I restructure my small business?

Small Business Restructuring There are many reasons why a business may need to consider restructuring. These reasons include difficulty in repaying or overcoming high start-up costs, the costs associated with over-expansion, expansion into unprofitable areas, the loss...

Should I put my small business into bankruptcy?

Is Small Business Bankruptcy the Right Choice for Me? One of the most difficult decisions that a small business owner ever has to make is whether or not to put his or her business into bankruptcy. Obviously, every business owner goes into business hoping for success,...

What is a small business bankruptcy?

Small Business Bankruptcy in Canada Small businesses that are struggling financially eventually need to make a decision about the future of the company. One option that small business owners may consider is small business bankruptcy. Bankruptcy is typically the most...

Small businesses and a proposal to creditors

Small Businesses and a Proposal to Creditors Many people believe that, when a business has financial difficulties, the only option is to file for bankruptcy. This isn’t true. While bankruptcy may be the most well-known way that businesses deal with significant...

Are creditors threatening collections or legal action?

Are creditors threatening collections or legal action? Struggling small businesses can fall behind on payments to suppliers or other creditors. They may also get into disputes with suppliers and creditors which can result in legal action. Calls from collection...