Proprietorship, partnership or corporation: Do you know the implications of your business structure?
Proprietorship, partnership or corporation: Do you know the implications of your business structure? You thought you set up your company in a way that protects you from being held personally responsible for business debts. So why is the Canada Revenue Agency (“CRA”)...Is a Forbearance Agreement in your future? Here’s what you need to know
Is a Forbearance Agreement in your future? Here’s what you need to know Your business has been struggling and now the bank wants you to sign a Forbearance Agreement. This legal tool, which lenders use when borrowers breach the terms of their loan covenant, is intended...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...When’s the best time to call a Licensed Insolvency Trustee? Before it’s too late
When’s the best time to call a Licensed Insolvency Trustee? Before it’s too late Revenues and accounts receivables are dwindling, and creditors keep pounding on the door. The challenges of running a company can feel overwhelming in the best of times, but when money...Are you personally liable for your business debts? The answer may surprise you
Are you personally liable for your business debts? The answer may surprise you Incorporating a business offers several benefits, including lower taxes on company income and limited liability for the company’s founders and shareholders. The latter is one that’s often...You need to know this: What the CRA can and can’t do to your business
Is the taxman knocking at your door? There’s good reason to feel anxious when the Canada Revenue Agency (CRA) writes or calls about your company’s tax debt.
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...The Impact of Sears Canada’s Liquidation on Small Business
If your small business is struggling financially, it can be tough to keep up with the bills. Unfortunately, some struggling small businesses find themselves unable to pay their rent.
What Happens When a Small Business Owner Can’t Pay Their Rent?
If you are a small business owner and you are unable to pay your rent, a Proposal to Creditors may be a good option for you.