How to Improve Your Business Profit
Small changes can make a big difference. You can greatly improve your business profit by adjusting specific metrics by as little as 1%. Profit Improvement Strategies: The Power of One Using your historical financial information, you can analyze the impact that a 1% or one day adjustment will have on your profit and cash flow, […]
How to Develop Key Performance Indicators (KPIs)
Developing and monitoring key performance metrics will help you ensure that your business performance is optimal. When you track the right metrics, you will have the information you need to guide decision-making and adjust operations to achieve your desired outcomes and goals. What are Key Performance Indicators (KPIs)? A KPI is a measureable metric that […]
Personal Services Businesses and Canada Revenue Agency
The Canada Revenue Agency (CRA) will be increasing their focus on personal services businesses and assessing for breeches of tax rules, according to an update from CPA Canada on September 6, 2022. With more Canadians choosing to incorporate their businesses, the CRA will be analyzing if a corporation is operating as a personal services business […]
Canadian Digital Adoption Program Boost Your Business Technology Grant
Updated February 20, 2024: Applications for the Boost Your Business Technology grant are currently closed. Due to a high volume of interest, the Canada Digital Adoption Program (CDAP) Boost Your Business Technology grant is fully subscribed and is no longer accepting new applications. If you have a valid CDAP grant agreement, you can continue to work with […]
How to Set Strategic Business Goals
As a business owner, it’s easy to get lost in the day-to-day activities of running your operation. It can be difficult to carve out the time you need to focus on the big picture and the future of your business. Strategic goal setting is an important task that’s worth your attention. It will help you […]
Business Budgeting and Forecasting
Budgeting vs. Forecasting Monitoring your business’s financial health through budgeting and anticipating expected revenues and payments is key to planning for the short-term. Forecasting allows you to plan further into the future, comparing how different decisions could impact your profit, and helping you to make better strategic decisions to ensure your desired outcome. Planning for […]
The Best Business Service Providers – Accounting, Law, Coaching, and Beyond
The Company You Keep For your business to thrive, you need the right team in place. Consider not only your internal team, but also the external advisors and partners who support your success. At KWB Accountants & Advisors, we do the same thing. Beyond our internal team of exceptional accountants, bookkeepers, and advisors who work […]
How to Prepare Your Business for Sale
Preparing to Sell Your Business: Where to Start When you begin considering the sale of your business, your first step in the process should be to identify your motivation, your goal, and any potential areas for concern. What are you hoping to achieve and what worries you about getting there? Are you looking to make […]
Filing Business Taxes with the CRA
Starting a new business means many important tasks and activities, and one of the most important is filing your tax and GST returns with Canada Revenue Agency. Follow these steps to ensure you understand and meet your tax obligations. Registering Your Business with CRA Register for a business number online, by mail or fax, or […]
How to Complete a SWOT Analysis for Your Business
What is a SWOT Analysis A SWOT analysis is a framework used to identify and understand your strengths, weaknesses, opportunities, and threats. These four factors play a critical role in assessing the overall health of your business, and they can be used to strategically plan for the future of your business. Strengths and weaknesses are […]