How Good is Business Advice?

CASE STUDY #1 – RECENT MBA A few years ago I watched as a young colleague with an MBA took it upon himself to advise the proprietor of a crepe stand about operations and business strategy – in exchange for a free crepe.  As a trained journeyman chef in an earlier life, I was amused […]

The Evolution of the Business Plan

Management science used to tell us that we needed to plan carefully and intelligently for any new business venture, document our assumptions clearly – and then execute. As a professional accountant I’ve always been leery of projections – or as we like to refer to them “FOFI” (i.e. future-oriented financial information). The thing is, accountants […]

Asset Sale vs Share Sale

Technology companies – in fact most small businesses – often have difficulty taking advantage of the recently enriched lifetime capital gains deduction. When first introduced the capital gains deduction was targeted the first $500,000 of capital gains on family farms and qualified small business corporation shares (“QSBCs”). Since then the lifetime capital gains limit has […]

The Cost of Going (and Being) Public

Recently I spoke to one of the founders of a medical device company who was looking to go public in order to fund the development and regulatory approvals for their new products. Assuming that the company accurately projects their capital needs at $4 million I thought it would be a useful exercise to look at […]

VCC Tax Credit Is Not “Government Assistance”

British Columbia’s Small Business Venture Capital Act provides a 30% tax credit to eligible investors in corporations involved in a “prescribed business activity” within BC. For individuals the tax credit is fully refundable and isn’t considered taxable under paragraph 12(1)(x) of the Income Tax Act: SUBSECTION 12)(1) – INCOME INCLUSIONS (x) Inducement, reimbursement, etc. — any particular amount […]

Self-Employed Contractor or Employee?

Whether you are an individual looking for a broader range of tax deductions than employees are ordinarily entitled to, or an employer looking for a more flexible working arrangement with your “employees”, you need to understand the rules around employment. The employer-employee relationships is dealt with by a number of different legislative regimes. These include: The Income […]

Importance of Startups in Job Creation

As a part of their “The Startup Revolution” series, the Compass Blog published “The Rise of the Startup“. It makes for fascinating reading. In particular they point to a study by the Kauffman Foundating in 2010. That study revealed that: over the past 28 years – startups were responsible for all net new jobs in the United States. […]

6 Alternatives for Online Invoicing

Do a GOOGLE search for “Online Invoicing Systems” and you’ll come up with an enormous list: About 1,810,000 results (0.33 seconds)  2 Types of Online Invoicing Packages The truth is there are a large number of alternatives to choose from. So many in fact, that you’d be hard-pressed to evaluate very many of them. However there […]