If you are thinking of buying a business and you have never bought a business (in Canada) before, the following guide will be of great use and is especially created for helping potential buyers of Canadian businesses. This comprehensive guide, written by Michelle Collins and Julie King, can be found on Canada One online and gives practical advise to those who are interested in buying a business in Canada.
Just click on the following link and it will bring you to the correct page:
A comprehensive guide to buying a business in Canada
Friday, July 23, 2010
Wednesday, July 21, 2010
"Self Reliance the Key to Successful Acquisitions"
Organic growth or growth by acquisition? This is an issue that has occupied the mind of a business owner at least once in their career. But what does it take to complete a successful acquisition and is it suitable for all business at one point in time? In the article "Growth by Acquisition" Mark Wardell stresses that "self reliance" plays a crucial role in acquisitions.
Although the majority of businesses grow organically, many owners will entertain the idea of making an acquisition at least once in their career. For some, growth through this method is a rare opportunity which is unlikely to be repeated, while for others, growth by acquisition is an important part of their overall growth strategy.
In all cases, the process of buying another business has its own unique set of challenges. So before embarking on the acquisition trail, it's important that you gain as much knowledge about those challenges as possible to maximize your likelihood of success.
Although the majority of businesses grow organically, many owners will entertain the idea of making an acquisition at least once in their career. For some, growth through this method is a rare opportunity which is unlikely to be repeated, while for others, growth by acquisition is an important part of their overall growth strategy.
In all cases, the process of buying another business has its own unique set of challenges. So before embarking on the acquisition trail, it's important that you gain as much knowledge about those challenges as possible to maximize your likelihood of success.
Friday, July 16, 2010
Green Jobs for a Green Province
An increasingly important sector in today's business environment is the so called "green economy". Differentiating from the old "black economy" this segment focuses on the opportunities in renewable energy, pollution reduction and fossil fuel substitution. British Columbia has been involved with this "green economy" for a quite a while and is progressive in this field. An article on Renewable Energy World Online discusses how this sector will only grow in the future and will create more "green jobs" in British Columbia.
Vancouver, BC - The green economy in British Columbia could be worth over $27 billion by 2020, according to an independent study by the GLOBE Foundation of Canada. The Vancouver-based GLOBE Foundation report, released today, assesses the economic and employment impacts associated with the transformation of the provincial economy towards lower-carbon energy generation and usage, as well as business practices that reduce greenhouse gas emissions.
Vancouver, BC - The green economy in British Columbia could be worth over $27 billion by 2020, according to an independent study by the GLOBE Foundation of Canada. The Vancouver-based GLOBE Foundation report, released today, assesses the economic and employment impacts associated with the transformation of the provincial economy towards lower-carbon energy generation and usage, as well as business practices that reduce greenhouse gas emissions.
Wednesday, July 14, 2010
How Business Owners can prepare for Interviews
Many business owners at one point in time will be asked to do an interview for a (local) newspaper, a business magazine or internet magazine. When answering the reporters questions the business owner should at all times be aware of what message it is they want to communicate. Paul Lima, from the Canada One Magazine, offers business owners and entrepreneurs some practical advice on how to respond to reporters' questions to ensure a successful interview.
Your company lands a new contract, launches a new service, or publishes a new information piece. You want to let people know, so you issue a media release, which you post on your website and/or blog, and link to using Twitter, LinkedIn, Facebook, and other social media.
A reporter calls, wanting to interview you. How you reply to questions can have an impact on your business because, based on what you say in the article, potential customers might call or visit your business or website. That's why you need to prepare for the interview.
Friday, July 9, 2010
"Franchise Homework"
Buying a franchise is a major decision in which many factors should be considered. The article "Do your homework before you buy a franchise", by Tony Wilson, can help potential franchise investors making the right decision by reviewing some important issues.
Franchised businesses are never supposed to fail. But on occasion, they do.
That's why doing your homework before you “buy” is so important, so the prospective franchisee can avoid disastrous mistakes and the agony of defeat. Legally, franchising is very document-intensive and it is important for prospective franchisees to understand what they are signing.
Here are a few matters to keep in mind when thinking about buying a franchise:
• Although you may be purchasing the tables, chairs and other assets related to the business, remember that, conceptually, you aren't buying. Instead, you are acquiring the legal right to use a franchisor's business system and trademark for the term of the franchise and any renewals. When that's over, the franchisor has no obligation to offer you a new franchise so, in some ways, you're just renting the rights.
• If you're living in Ontario, Alberta or PEI, has disclosure been provided to you under the laws of those provinces? Have you read the Disclosure Document and Franchise Agreement and discussed it with your legal and financial advisers? If you live in another province, is the franchisor providing you with a copy of its disclosure document (and if not why not)?
Franchised businesses are never supposed to fail. But on occasion, they do.
That's why doing your homework before you “buy” is so important, so the prospective franchisee can avoid disastrous mistakes and the agony of defeat. Legally, franchising is very document-intensive and it is important for prospective franchisees to understand what they are signing.
Here are a few matters to keep in mind when thinking about buying a franchise:
• Although you may be purchasing the tables, chairs and other assets related to the business, remember that, conceptually, you aren't buying. Instead, you are acquiring the legal right to use a franchisor's business system and trademark for the term of the franchise and any renewals. When that's over, the franchisor has no obligation to offer you a new franchise so, in some ways, you're just renting the rights.
• If you're living in Ontario, Alberta or PEI, has disclosure been provided to you under the laws of those provinces? Have you read the Disclosure Document and Franchise Agreement and discussed it with your legal and financial advisers? If you live in another province, is the franchisor providing you with a copy of its disclosure document (and if not why not)?
Thursday, July 8, 2010
Career Opportunity: "Professional Business Brokers in Demand"
Business brokerage is an exciting and rewarding profession. The purpose of a Business Broker is to facilitate the sale of a business and provide guidance to the owner. Business Brokers provide the opportunity to help people sell their business that they have worked hard to build and is usually their biggest financial asset. For a small business, the broker is an educator, explaining what is involved in selling a business, packaging the business into what investors are looking for and also to source out the investors. More importantly, effective brokers will have knowledge of pricing trends in the marketplace. Professional Business Brokers, also called business transfer agents or intermediaries, assist business owners to sell their businesses by analyzing the most probable selling price for the business, matching screened buyers and streamlining the selling process. The business brokerage industry allows you to be an independent business person with an income potential that is open-ended, and it offers an excellent lifestyle. In British Columbia, a real estate license is required. Knowledge of financial statements and prior business ownership experience is an asset, but our brokers come from all backgrounds and experiences.
At BC Business Brokers we are always looking for qualified individuals to enhance our team of Professional Business Brokers throughout Vancouver Island and interior British Columbia. If you or someone you know has experience in business, finance, real estate, accounting, law, marketing, valuations, appraisals or sales, we would like to hear from you. For more information on this exciting career opportunity, please contact Michael Naprawa at 250-751-7917 or e-mail us at career@bcbusinessbroker.ca
Thursday, June 17, 2010
Sunbelt Bridges Connection for Entrepreneur
Finding the perfect business– or securing a qualified buyer for your business is all about having the right connections, maintaining relationships and providing synergistic ownership strategies. Effective business brokers, sometimes referred to as business intermediaries, can do just that. Sunbelt Business Brokers in Nanaimo serves buyers and sellers throughout Vancouver Island and interior BC, and most recently, has represented a publicly traded company in the sale of a Richmond-based meat producer.
For more on this story…http://sunbeltnanaimo.files.wordpress.com/2010/06/article-premium-brands-south-seas-nm-july-2010-edition.pdf
For more on this story…http://sunbeltnanaimo.files.wordpress.com/2010/06/article-premium-brands-south-seas-nm-july-2010-edition.pdf
Monday, June 7, 2010
HST - Preparing for July 1, 2010
Preparation is key to reaping rewards and avoiding pitfalls as the implementation of the harmonized sales tax (HST) in Ontario and British Columbia looms, according to a veteran tax expert.
"Worries are not non-extistent, but they are small compared to the relative benefits," said Peter Budreski, chartered accountant and consultant to small and mid-sized firms.
He said preparing for the transition will greatly reduce the pain of the change and position small and mid-sized firms to reap the rewards of HST.
For instance, businesses must make sure their tax software tools have been patched or updated to accommodate the HST, said Budreski. In Ontario for instance, the government has earmarked $400 million for accounting software replacement assistance to SMBs, he noted.
On July 1, 2010, the goods and services tax (GST) and the provincial sales tax (PST) will be merged into the HST in Ontario and BC.
The Ontario government claims the move will save businesses $500 million annually in compliance costs. When fully implemented, the HST will save $4.5 billion annually.
Budreski, who also helps owners of small and mid-sized companies set up their QuickBooks accounting software, said the transition will generally mean less cost and complication for many of these firms, although many consumers might cry foul.
"There will probably be a backlash from consumers who will feel they are going to be charged more taxes over a wider range of products," he said
Source: Article from http://www.itbusiness.ca/it/client/en/home/News.asp?id=56777
"Worries are not non-extistent, but they are small compared to the relative benefits," said Peter Budreski, chartered accountant and consultant to small and mid-sized firms.
He said preparing for the transition will greatly reduce the pain of the change and position small and mid-sized firms to reap the rewards of HST.
For instance, businesses must make sure their tax software tools have been patched or updated to accommodate the HST, said Budreski. In Ontario for instance, the government has earmarked $400 million for accounting software replacement assistance to SMBs, he noted.
On July 1, 2010, the goods and services tax (GST) and the provincial sales tax (PST) will be merged into the HST in Ontario and BC.
The Ontario government claims the move will save businesses $500 million annually in compliance costs. When fully implemented, the HST will save $4.5 billion annually.
Budreski, who also helps owners of small and mid-sized companies set up their QuickBooks accounting software, said the transition will generally mean less cost and complication for many of these firms, although many consumers might cry foul.
"There will probably be a backlash from consumers who will feel they are going to be charged more taxes over a wider range of products," he said
Source: Article from http://www.itbusiness.ca/it/client/en/home/News.asp?id=56777
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