Don’t be a Target: How to Recognize Common Business Scam Tactics
Simple Steps Your Business Can Take to Outsmart Scammers and Avoid Being a Target for Fraud
An email from “the Financial Minister of Nigeria” may be easy to write off as a fraud, but not all scams are so obvious. Today’s scammers are clever and the money they steal is no joke. In 2019 alone, Canadians lost nearly $100 million to fraud.
The Canadian Anti-Fraud Centre lists over 16 types of scams that target businesses specifically. Your business may present a tempting target to scammers, but there are ways to minimize the risk.
You Can Increase Equipment Sales by Reframing the Price Tag
How to Prevent Sticker Shock, Help Your Customers Afford What They Need, and Look Good Doing It
You’ve got what they need. They know it, you know it.
All that is standing in the way of a successful sale is one number – that piece of equipment’s price tag. Equipment is a big-ticket item and the numbers involved can send a potential buyer running for the door.
The key to increasing sales lies in reframing the price tag with monthly payment plans. Breaking down that sticker price into manageable chunks helps your buyer reframe the equipment cost in a way that fits their budget – and thought-process. Few small operators can lay down the $40,000 needed to purchase a mini excavator upfront. But, $800 a month for 5 years? That is a possibility. That number that fits the world of monthly operating costs.
COVID-19 Financial Lifelines for Your Canadian Small Business
Subsidy and Benefit Information and Links for Canadian Small Businesses
Yes, these are interesting times. Trying to wade through the new (and ever changing) COVID-19 advice and information can feel like a fulltime job. When you’re running a small business at the same time it can quickly become overwhelming.
To help you out, we’ve pulled together a list of Federal, Provincial and private company resources currently available to Canadian small businesses. These programs, subsidies and benefits are designed to create a way forward so that your business will be ready to thrive when COVID-19 is a thing for the history books.
The Hidden Costs of Cheap Equipment
Buy Smarter by Calculating Equipment Operating Costs
We all like a good deal and, as business owners, we all need to watch the bottom line. It’s tempting to look at the equipment’s price first and its specs/maintenance records/user rating second – if at all. But this can be a costly mistake.
The real cost of a piece of equipment can only be calculated once you include the actual operating costs. The dent in your cashflow when you purchase is only the first of many costs associated with owning heavy equipment. Labour, maintenance, efficiency and downtime are all business costs too. If you get a “deal” on a cheap machine, but it is less efficient to run, breaks down more often and requires more expensive parts, is it really saving your business money?
Low prices do not always mean a better deal.
Canadian Equipment Lease Tax Benefits
Two Leasing-specific Deductions That Deliver Valuable Tax Savings for Your Business
Leasing your business equipment in Canada safeguards your capital, cuts red tape, allows for quick and easy upgrades — and offers significant savings at tax time.
Leases and loans are treated very differently by the CRA (Canada Revenue Agency). Two of the most significant differences are found in monthly payment deductions and how you claim Input Tax Credits. Some businesses will benefit from larger, short term tax rebates and some will benefit more from smaller rebates over a longer period of time. Either way, leasing can help bring down your tax bill.
How to Take Charge of Your Cash Flow
Essential Tips to Controlling and Keeping Your Cash Where You Need It
Cash flow management is critical to your business’s survival. Cash is king and nowhere is that more apparent than in the day-to-day finances of a business.
Poor cash flow planning can leave you short — struggling to pay employees or cover operating expenses. You may have plenty of business coming in, but it won’t help if you need funds now. Good cash flow management means you plan ahead and minimize those gaps.
Simply put, cash flow management is postponing capital expenditures as long as possible while encouraging anyone who owes you money to pay as quickly as possible. The first step to taking charge of your cash flow is evaluation.
Equipment Lease or Equipment Loan?
Compare the Two Most Popular Equipment Financing Options
Equipment leases and loans are a great way for businesses to grow strategically without tying up their cash flow or limiting their future flexibility. It’s rare that a business can drop the cash necessary for a large equipment purchase. Cash flow runs business, and it’s all about leveraging it to your profit.
That’s where financing comes in. Leases and loans allow you to break up that lump sum into manageable pieces – and let you to earn money with the equipment while paying it off.
Equipment Leasing 101
What to Expect From the Equipment Leasing Process – Start to Finish
Looking to purchase new or used equipment for your business? Wondering if leasing is right for you? Interested, but not sure what the process looks like? You’ve come to the right place. We’ll walk you step-by-step through the lease process and get you on the road to making an informed decision.
Small Operators Can Make Big Bucks: 5 Keys to Success
Move Your Business to the Next Level and Increase Your Revenue Stream with a Strategic Plan
Feel like your business has hit a glass ceiling? Sure, you’re paying the bills, but maybe you are looking for a little more. If growing your business and profits is the goal, you need to plan strategically. Business growth rarely happens by accident and sustained growth never does.
Greater profits are within your reach. But it won’t happen without a plan and diligent follow through. Obviously, the details look different for every business, but the following are bedrock concepts and strategies at the heart of any successful business growth plan.
Winning Strategies for Online Equipment Auctions
Use these insider tips to bid smart, avoid costly mistakes and seal the deal
Everybody is looking for a good deal on a great piece of equipment. Online auctions can be a smart way to find what you need for the price you want, but they come with their own unique challenges. You are bidding against other potential buyers who may push the price higher than you want to go.
Unlike buying from a store, or even the classifieds, auctions are dynamic sales where prices are flexible and changing constantly. This can be intimidating, yet with a strategic approach you can use this fluidity to your advantage. It takes a disciplined, well-thought-out bidding strategy to win. How can you maximize your buying potential and minimize risk? Read on…