Businesses across Canada that navigated the pandemic storm and thought they were in the clear soon faced another major challenge: widespread inflation. Rising prices have impacted the cost of everything from labour and materials to machinery and services across sectors. The latest Statistics Canada data puts the official inflation rate at 5.7 per cent year […]
COVID-19 changed our world overnight as it quickly evolved from a global health crisis to a global economic crisis. Countries around the world closed non-essential businesses and pressed pause on their economies in order to stop, or at least slow, the spread of the novel coronavirus. A global pandemic was always going to be bad […]
U.S. President Donald Trump has gotten his way. The new U.S.-Mexico-Canada Agreement (USMCA) was put into effect as of July 1—the earliest date possible following the agreement’s ratification in April. Modernizing the North American Free Trade Agreement (the USMCA’s predecessor) was a key part of Trump’s campaign in 2016 and the pressure was on […]
Virtually every CEO would agree that employment law non-compliance, a failure to take workplace harassment seriously, and the general flouting of accepted human resources standards, is unacceptable. Building workplaces free of anti-social behaviour isn’t just an aspirational goal, it’s a basic legal requirement in every province in Canada. That’s especially so in Ontario, which has […]
The bad news continues to flow for entrepreneurs across Ontario. The Doug Ford government has lowered the axe once again on programs that support the growth of small and medium-sized businesses across the province, this time targeting Ontario’s Small Business Enterprise Centres (SBECs). Several programs served up by the centres, including Starter Company Plus and […]
As Chartered Professional Accountants, the most common two questions we’re asked by clients is whether they should buy or lease a car, and whether they should buy personally or under their company name. Inevitably our answer has been, “It all depends.” How long do you plan to hold on to the car? Do you have […]
So, you’ve founded a company, managed to survive the first few start-up years and now employ a staff of around 20 people. The good news: you’ve come further than the average entrepreneur, who, statistics show, will start and crash out of multiple businesses before eventually achieving success (assuming they do, indeed, manage the feat). But […]
Less than two weeks after I outlined a coming review of Ontario’s innovation tax credits and “other R&D tax incentives” by Doug Ford’s Progressive Conservative government, news broke in recent days that Queen’s Park is moving to cut several important innovation programs for entrepreneurs, as well as at least one designed to help start-up businesses […]
If research, development and innovation are the lifeblood of Ontario’s economy—not to mention well-used talking points amongst the province’s business-courting political class—then it’s no surprise that a new review of popular tax credits is giving many small and medium-sized business owners cause for concern. The recent Ontario budget, the first tabled by the newly-elected Progressive […]
When General Motors announced plans to shutter its Oshawa assembly plant after more than a century of production, headlines bemoaned the end of an era, not to mention the further decline of the once-impressive Canadian automotive industry. Commentators debated whether the move—which GM said was part of its wider global restructuring plans, and not reflective […]
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