What’s the lifeblood of Canada’s workforce? A great idea, solid business plan and plenty of courage, for starters. Small business owners drive Canada’s economy – and they’re faced with financial challenges every step of the way.
Right on the heels of Canada’s Small Business Week, we’ve put together a special Money Wise edition for all you entrepreneurs. Read on for ways to launch your startup, avoid money pitfalls, and expand with ease.
The Unsung Economic Heroes
They may be tiny compared to corporate giants, but Canada’s small business owners contribute their fair share to our recovering economy – and the concept of being one’s own boss is catching on. Did you know that more than 500,000 Canadians are in the process of launching their own business?
Read on about the benefits of self employment – and the unique challenges facing entrepreneurs.
Read Allan’s Blog | The Unsung Economic Heroes
Small Business Money Challenges
It’s easy to overlook the small details when launching a business – but don’t let your financial plan be one of them.
We’ve identified the top money pitfalls facing new entrepreneurs (and how to avoid them), so you can spend more time focusing on the big picture – and less on the books.
Read Diane’s Blog | Small Business Money Challenges
Small Business Expansion Secrets
Your genius idea is catching on with the market, and that sweet cash flow is coming in. It may seem like a natural step to expand that successful small business.
What many entrepreneurs don’t realize is bigger doesn’t always mean better – and expansion isn’t the answer for every business. Read on to determine if your business is better off pint sized – and how to grow with success.
Read Melanie’s Blog | Small Business Expansion Secrets
and in headlines this week…
Halloween Economics: Avoid Scary Overspending
Canada’s favourite fright fest is just around the corner, and retailers are in full swing. Don’t let shelling out for candy, costumes or decorations traumatize your wallet. Check out our spookiest savings tips!
Read Rubina’s Blog | Halloween Economics: Avoid Scary Overspending
Bank of Canada Holds Interest Rate at 1 Per Cent
The latest Bank of Canada rate announcement has been released, and while interest rates and stimulus measures remain consistent, future economic expectations are cautiously optimistic.
Read Penelope’s Blog | Bank of Canada Holds Interest Rate
Banned: Prepaid Credit Card Hidden Fees
Prepaid credit cards may seem like the perfect gift, but hidden fees have frustrated customers, and decreased card face value. New rules announced by the government have banned these hidden fees and expiry dates in a move that promotes transparency and financial literacy.
Read Penelope’s Blog | Banned: Prepaid Credit Card Hidden Fees
RBC Acquires Ally Bank Auto Financing
Royal Bank of Canada announced today that it is further expanding into the auto financing sector through the acquisition of Ally Bank’s car financing business division.
Read Andrew’s Blog | RBC Acquires Ally Bank Auto Financing
This week on Money Wise, we asked:
How much do you spend on holiday food and travel?
46.9% of shoppers say that holiday shopping sets them back between $100 and $500 each year.
25.9% are even bigger spenders, shelling out between $500 and $1000 on their holiday expenses.
18.5% annually spend over the thousand-dollar mark.
8.6% utilize some thrifty strategy this time of year, managing to spend less than $100.