Yellowknife COVID-19 Business Recovery Grant
The City of Yellowknife is offering grants of up to $10,000 for eligible small and medium-sized businesses that are still recovering from the COVID-19 pandemic. Some businesses continue to face sustained revenue losses and labour shortages, while many also face challenges related to adopting advantageous technology. This grant program is meant to support businesses facing […]
Maximizing Trades Business Success: Strategic Insights and Ongoing Support
As a trades business owner, your ultimate goal is likely to provide your customers with the best service and outcomes possible. To achieve that goal you need to have success and profitability in your business. That’s why SWOT analysis and strategic goal setting, budgeting, profit improvement strategies, and ongoing advisory support are important. SWOT Analysis […]
Profit Improvement Strategies for Trades Businesses
As a trades business owner, you know that managing your finances is key to the success of your business. Whether you’re looking to minimize your personal and business taxes or increase your profits, working with an advisor who specializes in the needs of trades businesses can be a game-changer. ONSight Advisory offers you services and […]
Highlights from Canada’s 2023 Federal Budget Update | Impacts for Business Owners
The federal government released Canada’s 2023 Federal Budget update (Budget 2023) in March, which has three main focuses: making life more affordable, stronger public health and dental care, and growing a green economy. As a business owner, it’s important to stay up-to-date with changes in the Canadian federal budget that can impact your operations. Here […]
Making Accounting Simpler for Trades Business Owners
As a trades business owner, you have a lot on your plate. You are responsible for managing projects, coordinating with clients and subcontractors, and ensuring that your team is working efficiently. In the midst of all this, it can be easy to overlook the importance of accounting. However, accurate accounting is critical to the success […]
Small Business Succession Planning | How to Plan for Successful Succession
According to the Canadian Federation of Independent Businesses (CFIB) report released in January 2023, 76% of small business owners plan to exit their businesses within the next 10 years. However, only 9% have a formal succession plan in place. Some common obstacles to succession planning include: Completing a business valuation Improving the value of your […]
How to Strategically Grow Your Trades Business
If your goal is to grow your business, there are steps you should take to ensure that growth is effective, profitable, and sustainable. You can achieve this through strategic decision making based on accurate historical data and proactive forecasting. Steps for Strategic Business Growth To ensure that your business growth will be profitable, resources like […]
Tax Planning Strategies for Business Owners | Pipeline Planning
How to Draw Money from Your Business There are several ways to draw money from your company, and they each have different consequences and advantages when it comes to tax planning and optimization. Drawing money from your company can be done through: Salary When you take a salary, the company manages your income tax deductions […]
Budgeting and Forecasting for Your Trades Business
Budgeting and Forecasting for Your Business A budget is a financial picture that typically covers a 12-month period. It is used to determine what you can expect for revenues and expenses over the course of the year, factoring in operational activities that you anticipate implementing. Budgeting is a valuable practice that allows you to see […]
Steps for Improving Efficiency in Your Trades Business
As a business owner and leader in the trades industry, tasks like tracking payables and receivables and managing payroll can distract you from what matters most – your customers, family, and the things you enjoy. There are steps you can take to make these and other processes more efficient to save you time, and we […]