Owning Your Own Business
Whether you already own your own business or you’re just starting out, it’s important for you to have the time to focus on what you do best. We’re here for self-employed and business owner clients; to help you navigate your finances and make sure you’re able to spend your time on what’s important.
One of the biggest issues for business owners is the amount of time spent worrying about the financial aspects of running a business. Having someone there as a sounding board and service provider takes away many of the concerns you may have. We’re great at asking the right questions and helping you discover your strengths and growth opportunities.
Business Planning Areas to Consider
Cash Flow Analysis↓
One major issue that business owners often face is uneven income. There isn't always a regular paycheque coming in, which makes planning far more important. This means understanding and optimizing your cash flow wherever possible. While we cannot predict the future, we can assist by creating a financial plan that "flexes" to meet your business needs. This analysis will identify if there are any opportunities to improve your corporate finances, help you feel more financially secure, and get you closer to your goals.
Financial Business Decisions↓
Over the course of your career, you will likely need to make several significant financial business decisions. We offer our services as a sounding board for these types of decisions - since we're not involved in running the business, we can objectively look at all aspects and offer recommendations. We can help run through the numbers with you, professionally and personally, and help you determine which decisions will have the best long-term outcomes.
Risk Management↓
Businesses are faced with many risks daily, and successful business owners understand the importance of mitigating those risks in some way. A crucial risk that tends to be overlooked though, is the risk associated with loss of life or loss of ability to work. What would happen to your business if you or a key person wasn't around or able to work anymore? Would your business be able to adapt quickly and continue operations as usual? We'll work with you and your team to develop a full risk management strategy to protect yourself and your business in these situations. Our goal is to take away the stress of the "what ifs" and allow you to focus on what you do best.
Benefits and Retirement Plans↓
Working with many different insurers means we can tailor a plan to meet your specific company's needs - as opposed to your having to "take what you can get". Offering employee benefits for companies with as few as two employees, we are able to provide the best value in working with companies up to 100 employees. All of these points also apply to retirement plans; you and your staff will be offered personal attention including regular one-on-one meetings to help integrate their personal and group plans.
Succession Planning↓
The daily demands of operating a business often take priority over developing a plan for what will happen when you eventually leave the business. Succession planning ensures you and your company are prepared for any type of exit, planned or unplanned. It allows for a smooth transition when the time comes, maximizes your value from the business, and prepares you or your successors to handle unexpected events. Although it will be up to you to determine how you want to exit your business, we'll work with you in developing your succession plan and ensuring you, your company, and your loved ones are protected in any event.
Tax Planning↓
As a business owner, reducing taxes is likely very important to you. We work with your trusted professionals, such as your lawyer and accountant, to structure your assets and income in a way that will alleviate your overall tax burden.
Our goal is to be the Chief Financial Officers of our clients’ personal and professional lives.
We’re here to help you manage the financial aspects of your business so you can focus on what you do best.
Resources for Business Owners
Starting a Business
The steps to consider before operating a business.
Business Grants & Financing
Grants, loans, private and public sector financing and leveraging personal assets.
Managing Your Business During Covid-19
Financial support, loans, and access to credit.
Business Taxes
Income tax, GST/HST, payroll, business numbers and customs rates.
Hiring & Managing Employees
Payroll, wages and other resources for recruiting, training and managing employees.
Permits, Licenses & Regulations
The permits, licenses and regulations that apply to your business.