Tag: operating costs

Resources for Making your Canadian Business Green

Posted by Winflow – June 9, 2011

Eco-friendly businesses and product lines are trending in markets. Concern over the environment is at an all-time high so choosing low-impact resources and alternative energy sources can not only save you money but it could boost your sales. The government of Canada provides a number of resources to help make your small business green. These resources include:

  • EcoEnergy for Fleets. If your business involves transporting inventory, this program wil lgive you tips on how to choose energy efficient vehicles that will reduce operating costs and fuel consumption.
  • Existing Commercial Buildings Retrofit Program. If you run a business in New Brunswick, you could be eligible to receive up to CDN$50 000 to make energy-efficient upgrades to your business.
  • Power Savings Blitz Program. If your business is located in Ontario and your electricity demand is less than 50kW per month, you could be eligible to receive up to CDN$1000 in free energy-efficient products and installations.
  • SME Sustainability Roadmap. This guide can walk you through making your business completely sustainable.

For more green resources available through the government of Canada, see this page of links.

For advice on how to save money operating your small business, contact the Wi

Choosing the Right Business Idea

Posted by Winflow – June 8, 2011

If you’re an eager but novice entrepreneur, chances are you have some really great ideas. Choosing just one or choosing one that will be likely to turn a profit can be the difficult part. Some ideas may seem sensible but you may never see any money from the business whereas others seem off-the-wall but you could end up making some serious cash. Here are some questions to ask yourself if you’re considering putting a business idea into motion:

  • Don’t be dependent. If your business idea requires relying on orders from one company you will face difficulties when they do. Go for business ideas where you will receive orders from multiple sources so if one company goes out of business you will still make a profit.
  • If it sounds too good to be true it probably is. Ads for making thousands a week working from home with no experience probably require you to pay the company for materials. They also won’t tell you the operating costs so you won’t really know what you’re getting into. Be smart and avoid business scams.
  • Choose an idea that requires low overhead. Unless you have some serious start-up cash avoid ideas that require purchasing and running costly equipment or buying distribution rights.
  • Choose a business that won’t be difficult to manage. If your business expands will you be able to fill orders and handle the increased demand?
  • A business that is simple to start will save you grief in the long run. If you have to take expensive training courses or spend all your time building trade connections you won’t turn a profit very quickly.

Contact the Winflow Financial Group if you need help evaluating your business ideas. Request a free consultation or call us at 1.800.956.6897.