Presented by Lindsey Raupers CPA, CGA and Joran Hedley CPA of BDO Canada, this workshop will guide you through your finance questions. Following the workshop, Lindsey and Joran will be available after the workshop to answer your questions.
1. I started a business, now what?
· Find out how to start your business off on the right foot. How should you begin keeping track of income and expenses? When and how do you need to register for and start charging GST and PST? When do you need to open a payroll account?
2. My business is keeping me busy, but how is it performing financially?
· Why it is important to keep good, accurate, up to date financial records and what you can do with that information. We will look at the balance sheet and income statement and help you understand what they can tell you about your business.
· Why it’s important to keep your records up to date
3. Do I need to incorporate my business or should I operate as a sole proprietor, what are the differences?
· There are many reasons why it might make sense to incorporate your business, but also reasons not to. We will take a look at these reasons that might help you decide when it’s the right time to take the next step and incorporate, and also what that means for the future of your business.
4. What are some common errors that you, as accountants, see small businesses make?
· We will go through a list of different issues that we see on a regular basis with new and established businesses and how you can avoid making these errors with your own business.
5. I’m worried that I don’t have a pension, how can I properly save for retirement?
· Not having the safety net of a pension or employee RRSP matching program can definitely be unsettling. However there are things that you can do while building your business to make sure you have money set aside for the future.
6. What are the top financial tips you have for new business owners?
· Our top recommendations for business owners, as well as an overview of relevant contact information and places to go for more information.