Risk Management

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The Monetary Risks and Benefits of Long-Term Leases

Posted in Risk Management
February 4, 2016 by

Business owners in Ontario often find themselves having to make choices with important consequences for their companies. A poorly thought out decision could lock a company into an unfavourable agreement or contract for a very long time. On the other hand, a good decision could provide a firm with a long-term strategic advantage, which can
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Moving a Business from Canada to the US: Financial Strategies for a Successful Business Move

December 3, 2014 by

If you are an Ontario business owner considering a move to the United States, you probably have many questions about how to make a financially successful move. For example, you may have questions about purchasing health insurance for you and your employees, investing in property for your new business location, and how to avoid being
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How to Manage Profit & Loss

October 10, 2014 by

Entrepreneurs need to properly manage profit and loss to ensure the long term sustainability of their businesses. When sales exceed expenses, the business profits. When the opposite is true, the company generates a loss. This calculation is straightforward enough, but managing profit and loss is a delicate balance that requires a thorough understanding of how
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What Is Capital Structure?

August 20, 2014 by

Every business needs some type of capital to grow and thrive, and for business owners who are just starting out, that capital may come in the form of personal savings, personal lines of credit or loans. Those sources may be fine for starters, but as your business grows, you need to understand capital structure at
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External Financing Options for Entrepreneurs

July 16, 2014 by

When more capital is required to start and operate a business than business owners can put forth, entrepreneurs must be aware of their external financing options. Below, our accountants list some of the various options for funding your entrepreneurial enterprise. External Financing Options: Angel Investors Provide capital in exchange for convertible bonds The holder’s investment
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How to Assemble the Ideal Board for a Post-Bankruptcy Enterprise

May 28, 2014 by

Learn how to recruit and retain an effective board following a company’s declaration of bankruptcy. Our firm explores the complexities that arise when recruiting board members for a post-bankruptcy vs. a financially sound company. We hope to demonstrate how to create an effective board of directors that will position your company for long-term success, rather
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How Does Risk Affect your Enterprise’s Balance Sheet?

April 25, 2014 by

Risk directly and indirectly affects your business’ balance sheet. Proper risk management is important to mitigating risks as to avoid excessive expenditures or the loss of growth opportunities. When a company has a high amount of risk associated with their enterprise, they should acknowledge this on their balance sheet in a number of ways. Alternatively,
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When Can I Destroy My Tax Records?

September 1, 2013 by

There’s no way around it, a business’ tax records can take up an enormous amount of room. Also, you may want to destroy your old records for security or other purposes. The Canada Revenue Agency has strict guidelines when it comes to keeping and destroying tax records. Their guidelines state: “You must keep all of
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Taxation for Non-Resident Employees

August 22, 2013 by

Non-resident employees are generally defined as a non-resident of Canada with workdays in Canada during the calendar year—Therefore they have a Canadian source employment income. If they are employed by a non-Canadian entity, they generally remain on the non-Canadian payroll. Withholding Canadian Income Tax for Non-resident employees A non-resident employer is subject to the same
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Event Recap: Nick Niemann’s ‘Innovation Can Make or Break Your Business Model

On June 5th at the Hilton Suite Markham Convention Centre, Hogg, Shain and Scheck proudly presented Nick Niemann’s ‘Innovation Can Make or Break Your Business Model’ seminar to a great crowd of entrepreneurs. Niemann, a practicing lawyer and the CEO of BriefBack Business Institute LLC, reviewed the essential components of any business model. Innovation Can
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