We might be seeing a different labor pool

hiringAt certain times of the year, Canada sees an influx of workers. Normally, during the summer, immigrants head up here to take advantage of numerous job openings that occur seasonally. However, if Canadian lawmakers have anything to say about it, this might not happen with such frequency anymore, as they intend to tighten restrictions on international workers.

This change directly affects companies. Not only might they want to extend their help wanted ads to others to make up for a potential lack of seasonal staffers, but they definitely need to be apprised of the developments to make sure they’re always compliant with federal and provincial laws.

ALMO suspended immediately
One of the first things business owners need to know is the fact that lawmakers in Ottawa suspended the Accelerated Labour Market Opinion (ALMO) process, The Globe and Mail reported. This initiative generally allowed employers to find and hire foreign workers quickly with little opposition while making it legal to pay such individuals up to 15 percent less than others in the area, as long as this stipulation was also extended to locals.

Hiring international workers can be the catalyst smaller companies need to get their business off the ground. CBC News reported that hiring these workers can often allow a profit to be made easier, which can benefit the local economy, the firm and eventually the workers themselves.

This opportunity also allows foreign workers to become more familiar with the nation and use jobs to advance themselves, the news source explained. These positions can often lead to applications for permanent residency.

Real effect on owners
Many small business owners aren’t thrilled about the restrictions this places on their companies. Representatives from the Canadian Federation of Independent Business and the Canadian Chamber of Commerce have already come out as opposing the measures, The Globe and Mail reported. Leaders of the Alberta government noted that depriving the local economy of a sizeable volume of workers might have harsh, long-lasting effects on provinces’ financial landscapes.

Labor groups and other locals, however, have noted the benefits and claim that reducing the number of seasonal employees will solve regional unemployment and allow Canadians to get the first chance at filling nearby positions.

Moreover, some companies won’t actually be affected by these new developments. According to The Globe and Mail, businesses involved in agriculture won’t have to abide by the rules because of a shortage of local workers.

 

Canadian Buisness Ownders Should be Careful About What New Devices They Implement

tabletIn the past few years, the look of the office has seen a drastic revamp. Business locations used to feature cubicles with massive personal computers in them for workers to use. Now, many companies rely on open floor plans, allowing increasingly smaller devices to be used.

Some firms have taken this sentiment to heart and now allow staffers to bring their own tiny tools to work. Bring-your-own-device policies are now commonplace in many offices, as administrators think that allowing people to do their work from familiar gadgets anywhere will result in increased productivity and better focus.

However, in Canada, some experts are saying that one device shouldn’t be counted among those accepted in the workplace, because they’ll probably be phased out altogether in the near future – tablets. Though these tools are immensely popular in many work spaces and homes alike, BlackBerry CEO Thorsten Heins recently predicted that in the next five years, they will no longer be in use. Should small companies prepare for this tablet doomsday and phase them out before the move is forced?

Heins isn’t too optimistic

According to Financial Post, the BlackBerry head honcho thinks there’s no point to incorporating tablets into the business plan anymore, because they won’t be around too much longer. In an interview at the Milken Institute conference in Los Angeles recently, he explained that he believes smartphones are the device of the future.

“In five years, I don’t think there’ll be a reason to have a tablet anymore,” Heins said, as quoted by the news source. “Maybe a big screen in your workplace, but not a tablet. Tablets themselves are not a good business model.”

What about when used as a supplement?

That said, this doesn’t mean that Heins’ words are law – he very well might be wrong in his prediction. According to a recent study published by The NPD Group, tablets aren’t replacing computers in Canadian offices, but they are being purchased as a supplement to traditional computing, itbusiness.ca reported.

Many experts consider tablet purchases to be largely made up of impulse buys, but there is a definite spot for them in the workplace. This might also become more important as time goes on, because the volume of computer and notebook sales dropped in 2012 by 12 and 19 percent, respectively. So Heins might be wrong – as traditional machines disappear, tablets might be just the thing to pick up the slack in the office.

Elements to consider when thinking about the perfect market

ImageFor many small business owners, it is abundantly clear as to who would best benefit from their products or who might find their goods particularly attractive. Shops that specializes in wedding dresses would likely name their target audience to be twenty-something women within a certain salary bracket.

But not all businesses specialize, so what should startup owners do if they offer a variety of products that a lot of different people would like? Rather than going with a one-size-fits-all approach to marketing, which will probably crash and burn, they need to hone in on what type of people the market is made up of.

To do this, owners have to consider a variety of factors before making any important business decisions.

Finances
Alberta-based business owner Greg Habstritt told Entrepreneur Magazine that the first thing leaders need to think about is who is realistically going to pay for a company’s goods. Owners have to ask if their products are solving a problem and if people in their area are noticing this challenge and looking for fix its in the first place.

Additionally, because this might not only affect the price points, but also the potential quality of the product in question, business leaders need to consider what income bracket their target audience is in. If they’re located in a certain area known for citizens with lower salaries, a gourmet shop probably won’t do well.

Once the sweet spot is found, the details can be ironed out within accounting software. For instance, leaders will be able to tell if they need to link such programs to credit card readers that automatically update numbers in real time or if cash is king and a lesser number of ledgers and files need be created.

Realistic reach
On top of that, company leaders need to think thoroughly about whether or not their products will be able to go province, nation or worldwide, or whether they might have a bigger impact in a local market. Many enthusiastic leaders think that everyone will find their goods attractive, but they have to hone in on certain demographics. The Globe and Mail recommended that owners find their company’s “sweet spot” before they make any drastic changes to their campaigns.

Room to grow
Many businesses grow eventually, whether that means expanding the product line or opening up a new storefront location. This can also include opening the doors to a new target audience someday, an element that leaders should keep in the back of their minds early on.

Owners should always be prepared to expand who they’re marketing to. This can be a good thing and should be considered in general terms, like expanding to a foreign market from a domestic one, for example.

Canadian business owners looking to cut the red tape

redtapeCutting red tape isn’t half as fun as it sounds. It’s not referencing one of those tape-cutting ceremonies featuring an overly large pair of scissors followed by an after party. Instead, it means figuring out how to get the local, provincial or federal government to back off a little it and give business owners some breathing room.

There is a massive volume of regulations leaders have to abide by in order the remain compliant with the law and be able to successfully run a company and reap the benefits. This requires firm owners to keep up with all applicable codes and laws, which are subject to change at nearly any time. Tweaks have to be made in nearly every element of running the company when ordinances change.

Canadian entrepreneurs know this all too well – we have to deal with government-applied red tape with some frequency in this nation. How can we cope? Is this more a matter of adapting to the landscape or is there a way to get government leaders to go easy on us?

Canadian companies losing money
Many people think that government leaders will be amenable to loosening some of the red tape being applied because of a recent study that was published at the end of January. According to The Canadian Federation of Independent Business (CFIB), we pay more than our neighbors to the south when it comes to remaining compliant, The average small company doles out almost $6,000 per employee to keep up with the law, though American firms only pay around $4,084 per worker for the same purpose.

The overall cost northern companies have to swallow to stay on the right side of the law is $31 billion annually.

Affects so many different factors
There are numerous small firm laws for just about every aspect of business – from hiring and marketing to payroll recording and office setup. That said, some of these laws seem to be more restrictive than others, to the detriment of the company leaders.

For instance, many media outlets have picked up on the red tape regarding business taxes, given the time of the year. According to The Vancouver Sun, these laws are becoming more and more costly, both when they are violated and when companies are trying to remain compliant. The news source said that this eventually affects everyone – to stay in accordance with tax laws, businesses have to spend money, and to recoup the losses, they may be forced to raise prices, thereby affecting consumers.

Considerations before expanding your business to another location

keysSmall business expansion can mean a variety of different things – for instance, a company may be considering releasing a new product line, hiring a bevy of additional employees, targeting a new demographic or the most obvious, moving to a secondary location. Before any of these actions are carried out, however, the owner needs to think long and hard about whether or not this is truly the best thing for the business.

Many questions need to be posed before a leader can consider opening up a new storefront location, they need to ask themselves a few questions.

Is this financially responsible?
Obviously, the first thing that the leader needs to think about is if expansion is even feasible financially. Do the likely benefits outweigh the potential risks that might arise? If this turns out to be a failure, will the company as a whole still be able to function? If the answer isn’t yes, the administrators should seriously consider scrapping the project.

That said, if, after consulting with accounting software to take a look at the business’ expenses and revenues in real time, the firm is in the black, expanding might be a good idea. Nonetheless, reviewing such programs with a fine-toothed comb needs to be one of the first steps.

Are my employees reliable enough?
It goes without saying that whoever a business owner hires is someone he or she considers to be trustworthy enough to complete the job. But the leader needs to think about whether he or she has someone that would be trusted to run a second location, because he or she can’t be in two places at once.

This also calls up another question, according to Entrepreneur Magazine – is there anyone that the firm owner can afford to move away from their current position? Even if one employee in particular would be a great fit at the other location, if they are crucial to company where they are, this might not be a feasible move.

What’s the situation with competition?
Even if the company is currently very popular in its location, that doesn’t mean this will bring immediate success if they move. The business owner will have to survey the new area for potential competitors to make sure they don’t have a lock on the market that will be hard to break. On the other hand, having numerous similar businesses within parameters might mean the new firm will be lost among the sea of choices, which can be just as damaging and fruitless.

Entrepreneur recommended spending time casing the area to make sure the company would be able to assert itself with little to no problem.

Tips for working at home

If you’re finding it challenging to stay focused and organized, check out this article by Nancy Harris, senior vice-president and general manager for Sage 50 Accounting software, on tips for small business owners that work from home.

Read more: http://www.theprovince.com/technology/Tips+working+home/8085245/story.html#ixzz2RtcY4m9J

Accounting software: The complete package

Onedoesnot

As the old adage goes, everything is not what it seems, especially in the business world. For instance, a lot of people don’t know what it takes to run a company. They just see the end result and think that being an entrepreneur is all fun and games – you have to express your creative side in coming up with product ideas and advertising campaigns, manage a number of people below you and turn a profit. However, we all know that’s nowhere close to the effort we have to put into some of our menial tasks everyday.

Interestingly, the same goes for accounting software – it isn’t just a simple single interfaced platform on which we type in how much the company’s taken in everyday and the amount of money that goes out in bills and other expenses. Financial programs are actually so much more, but there are a number of people who might not know that. These individuals are likely losing out because they’re not taking full advantage of everything software has to offer.

Other business leaders, software providers and industry experts can be consulted to figure out what’s missing and what added features should be used. Or, you can stick around and take a page out of our book.

Catch errors

When entering in a multitude of figures by hand, numbers start to blend, decimal points can be misplaced or handwriting can suffer. These are all things that inherently don’t come into play when using accounting software, making committing errors more difficult. According to The Houston Chronicle, when using software, the number of mistakes tends to decrease. Plus, the source said that many of the calculations are done automatically for business owners, so they don’t have to put their math skills to the test in such a crucial environment.

Dole out pay

Something that may be of particular interest to employees, accounting software is also often used to take care of payroll. According to wiseGEEK, these programs can make processing payroll numbers easier, while also handling employee tax documentation in a more efficient manner and creating reports generated from this type of data.

Calculations made easy

Along this vein, setting up equations and calculations automatically can help business leaders make sure they’re always compliant. Perhaps certain taxes or percentages vary province to province and the company has locations in multiple regions – things can get confusing. Without exerting a whole lot of effort, business owners can always ensure they’re keeping up with various federal and provincial regulations, allowing the firm to stay on the up and up.

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