Category Archives: Business

7 Tips for Bootstrapping Your Business

By Janet Hutchins | Filed in Business

The dream of working for yourself is a powerful one. The ability to be your own boss, set your own hours, and take vacations whenever you want offers a strong incentive to want to start a business.

But what if you don’t have the money you need?

The good news is that you can start a business on a shoestring. You just have to know how to booststrap it. First of all, realise that you won’t be able to boostrap a business that requires a lot of equipment and high startup costs. Think about your business idea, and what it entails. If you are operating on a very small budget, you will need a business idea that has relatively low costs.

Once you know that your business idea is compatible with boostrapping, you can use these 7 tips that can help you make it work:

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Own a Small Business? Don’t Forget These Tax Deductions

By Janet Hutchins | Filed in Business

It seems as though tax season just ended, but it’s never to late to start thinking about next year. In fact, you will have an easier time of it if you prepare all year for your taxes.

One of the best ways to prepare for your taxes as a small business is to keep track of your business expenses throughout the year. Many of these business expenses are tax-deductible, meaning that the Canadian Revenue Agency will let you deduct them from your income at tax time. So, keep track throughout the year, and you could reap the benefits.

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Canadians Pay High Fees for Credit Card Use

By Janet Hutchins | Filed in Business, Credit Card Tips, News

If you are Canadian, and you use a credit card, chances are you are paying for that privilege — even if you don’t carry a balance and use your Canadian credit card interest-free. The fees charged to merchants in Canada for accepting credit cards are among the highest in the world.

Canada’s Competition Bureau is arguing that the high fees that Canadian merchants pay for accepting credit cards is unfair, especially since the cost of the fees are passed on to consumers. Even those who use cash end up paying, in some way, for these high fees. Canadian Business reports on the impact of high fees:

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Watch Out: Business Identity Theft is on the Rise

By Janet Hutchins | Filed in Business

Many individuals are well aware of the risks involved in identity theft. Indeed, we’ve been hearing about the dangers of identity theft for years. However, small businesses need to be on the alert as well. Apparently, identity theft of small businesses is on the rise. If you have a small business, you need to be on the alert for identity theft.

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Financing Your Business? Consider P2P Lending and Crowdsourcing

By Janet Hutchins | Filed in Business

Right now, it can be difficult to find the financing you need for your business. Many banks are reluctant to help a small business with a loan. It represents a chance that the business is taking. What if your business tanks and you default?

Even if you have a good idea, it might be hard to find financing. One way you can improve your chances is try P2P lending, or some sort of crowdsourcing. You can usually get reasonable interest rates, plus you might be able to find someone willing to take a chance on you.

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Canadian Ecommerce By the Numbers [Infographic]

By Janet Hutchins | Filed in Business, Infographic

In Canada, the trends are changing. Indeed, credit card use is on the rise, and online spending continues to surge in Canada. Ecommerce in Canada is becoming a big business, growing to $15.3 billion a year. That may be small compared to ecommerce spending in the U.S., but it still represents a substantial increase in online spending for Canada.

The following infographic offers some insight into what Canadians are doing with their money online:

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