Tag: canada

Small business owners in Canada starts to gain confidence back

Posted by WFG – October 5, 2011

In the latest survey conducted by Canadian Federation of Independent Business, the small business confidence index in Canada has finally gained some traction and increased by one point in September. This marks small business owners gained some confidence after losing much of it in the previous month.

Detail analysis of the Business Barometer

Amongst the provinces, the most economically developed provinces, named Ontario and Quebec had the lowest confidence most likely because consumer sentiments in these financial centres are more affected by a volatile financial market. On the other hand, Alberta and Saskatchewan showed the highest confidence.

Amongst industries, Health and education services showed the highest confidence level, followed by natural resources, personal services and arts, recreation and information. Hospitality, retail and construction sectors seem more sensitive to the slowing economy and showed the lowest confidence level.

“Perfect buying opportunity” for many businesses

The economy booms and recesses in cycles, and the current environment with low interest rate and cheap rentals in many areas could be the perfect opportunity for many small business to expand. Central bank officials and many commercial bank analysts see the current economy slow down as transitory and will recover in the next year. Business expansion now would be the perfect timing to get ready for the next round of boom in Canadian economy.

There many government grants available to stimulate small business developments, and if your business is ready for expansion, check our venture capitalist pitching sessions at www.pitchyourbusiness.ca

The Month End Rally

Posted by WFG – September 1, 2011

TSX – 12,768.70

Dow – 11,613.53

S&P – 1,218.89

Nasdaq – 2,579.46

The Month End Rally

  • A month end rally helped the market, pushing figures higher than expected. We predicted a 5% rise and it climbed to around 8%.
  • Defensive stocks traded higher. Though banks and industrials were hit hard.
  • Gold prices hit their highest rise, since 2009, in August. But announcements in the coming days may contribute to it slipping. These include the American job numbers. If they are good then many experts will choose stocks over gold.
  • Don’t trust the month end rally though, as the next week will bring difficulties. Most people are away on holiday and the summer ends this week.
  •  Odds are that the market will fall, though this will depend on a number of circumstances. Read the rest of this article

Is the Venture Capital Market Drying Up in Canada?

Posted by WFG – August 17, 2011

In the second quarter of 2011, Canadian venture capital investments dropped 2 per cent. What can be done to help out startup companies and the weakening market?

Read more at The Globe and Mail.

How to Start a Business in Toronto

Posted by WFG – July 27, 2011

Toronto has been largely unaffected by the economic crisis of the last few years and continues to expand, attracting a higher population. This makes it one of the most attractive places to start a new business, but is it any different from starting in other financial hubs such as New York or London?

To begin with, registering your business in Toronto is easier than in the United States, and the United Kingdom. In Canada it’s only a one step program and to start a new company simply contact Enterprise Toronto and register. They will help you with details and make it a quick and easy process. A wide number of potential business owners see this as a major advantage as registering a business in other locations can lead to unwanted complications. Read the rest of this article

Toronto Stock Market Expected to Open Higher

Posted by WFG – June 30, 2011

The Toronto stock market looks set for a higher open today as traders await the news of economic growth. This rise follows the impact of the vote in Greece which enabled them to secure finances for extended debt repayments.

In pre-market trading the Canadian dollar rose 0.6 cents high to 103.63 cents. Among the biggest fallers were gold, which was down $1.80 to $1,508.60 per ounce. And oil which fell after a surge in the previous days.

After weeks of uncertainty, many industry experts are relieved that the situation in Greece has come to a slight conclusion. Lawmakers in Greece are close to voting in favor of the implementation bill, which will confirm the future finances. This has helped solidify the market, despite continuing problems with the Greek government.

Thursdays trading is expected to be more volatile than usual, as it marks the end of the month, and the end of a quarter. This is a point where a wide mix of traders close off trades and book profits.

Inflation Rises in Canada

Posted by WFG – June 29, 2011

The annual inflation rate in Canada rose a massive 3.7% last month due to an increase in gasoline prices. It now sits at the highest level in 8 years and has pushed the index limit far above expectations.

Analysts had expected the rate to fall 0.2% in April, but the month on month price rise more than doubled 0.7 from the origin al 0.3. These results cause problems for the Bank of Canada governors, with less than three weeks prior to a meeting, arranged to discuss short-term interest rates. The bank had predicted a rise above 3%, but no one contemplated that it would be above this limit for three consecutive months.

One of the main culprits was the rise was gasoline. From April it rose 2.0%, which made it 29.5% higher than May 2010. If you exclude the gasoline jump, annual inflation rates would be at a more casual 2.4%, and despite it still being above the likeable bank rate, it would be far more manageable. Other volatile items, such as selected foods and energy, only rose to 1.8% and continue to sit below the 2% target. In addition to this, it’s suggested that gasoline prices have fallen in June.

The Bank of Canada has set their target of between 1-3% in the short term, before decreasing to 2% by mid-2012. The only question is how they plan to keep the inflation manageable.

Northern Ontario Entrepreneur Program

Posted by WFG – June 17, 2011

In some areas of the world becoming an entrepreneur is difficult. The financing for small businesses is almost impossible to receive and without your own funds, projects will fail. But in Northern Ontario the government has put in place a program to help the ambitious with entrepreneurial ideas and this iscalled the Northern Ontario Entrepreneur Program.

There are guidelines to who can enter for the program though. It is only open to residents of Northern Ontario who plan on creating their business in the north. This venture cannot be an extension of one already in place and mustn’t be similar to one created by friends or relatives. The completed project must operate full time and create jobs for people in the local area.

The program can provide a grant of up to 50% of the eligible costs and won’t exceed $125,000 for each project. The entrepreneur involved must make an investment into the business but of no less than 10% of the original grant. The funding, combined with other government funding won’t exceed 75% of eligible costs.

There are further guidelines to keep to and the new business shouldn’t unreasonable impact other Northern Ontario businesses. You will have to have a business plan prepared and the proposed business may have to have funding from other established sources.

For more information on the Northern Ontario Entrepreneur Program and starting a new business contact the Winflow Financial Group.

Wheat Board’s Monopoly on Grain Trade Threatened

Posted by Winflow – June 13, 2011

Currently, the Canadian Wheat Board (CWB) holds a monopoly on Canada’s grain trade. The Conservative government plans to introduce legislation in August 2012 to change this. Other details include:

  • The province of Manitoba plans to lead an ad campaign urging the federal government to scrap their proposed legislation.
  • The Wheat Board is run by government appointees and farm-elected directors. The government of Manitoba has no jurisdiction over the Wheat Board’s control.
  • The government of Manitoba has demanded a vote by farmers to decide the future the CWB.
  • The premier of Manitoba has said he may plan on suing the government after the legislation has been debated.
  • The Federal Agriculture Minister has refused to hold a vote on the CWB issue, claiming Canadian’s made their decision at the polls last month.
  • If the CWB loses their monopoly, the market would open to new investors and companies.
  • The monopoly outlines that wheat, barley and durum can only be sold through the CWB.
  • The monopoly has been in place since the second World War.
  • 400 jobs could be lost at the CWB if the legislation is passed.

For further details on the CWB monopoly, read this Business News Network article.

For your small business needs, contact the Winflow Financial Group. Our consultants can ensure that your company is running according to federal and provincial protocols. We can be reached at 1.800.956.6897.

TSX down for second week

Posted by Winflow – June 13, 2011

The TSX composite index looks like it may be heading closer to correction territory as it enters its second losing week. Though it isn’t struggling with a six-week long losing streak like the S&P 500, the data is looking grim. Details include:

For more details on today’s market performance, read this Globe and Mail article. For last week’s news on the market see:

For your small business needs, contact the Winflow Financial Group.

Benchmarking and your Small Business

Posted by Winflow – June 13, 2011

Benchmarking is a tool used for evaulating your business based on analyzing the best practices within your industry. Benchmarking can help you develop strategies to ensure your business is running in the most productive way possible. If benchmarks indicate that you are paying above the norm for a particular service or contract, it may be time to re-negotiate. Some resources for benchmarking include:

  • Average collection period tool. This tool will help you determine how long it takes for customers in your industry to pay their bills. Split into sectors, this tool calculates the average collection period for each industry which can help you determine if your collection policies are in order.
  • Inventory turnover tool. This tool will analyze the rate at which businesses in your sector turnover inventory. This will help you determine the correct amount of inventory to purchase and keep on hand.
  • Directory of business performance and ownership statistics.  This directory, compiled by StatsCan, includes pertinent data about a number of business topics.
  • SME benchmarking tool. This tool allows small business owners to view industry averages and compare your data to existing businesses in your sector.

If you need help determining if your business is running efficiently, contact the Winflow Financial Group. We can be reached at 1.800.956.6897.