Foresight Newsletter
Summmer 2010
Start Early with Transition Planning
Approximately 40 percent of business owners would like to exit their companies in the next five years, but only 25 percent have a plan to do so. Obviously, this type of transition is not easy, but planning ahead will ensure that the company will continue to thrive. View Full Article
How to Protect Your Company from Fraud
The typical Canadian company loses 5 percent of its annual revenues to fraud. Not surprisingly, smaller companies suffer disproportionately large losses. Act now to prevent fraud in your company. A few simple steps can make a big difference. View Full Article
Performance Reviews 101
Performance reviews provide an excellent opportunity to provide guidance and career input for what most companies consider to be their most important asset — their people. Ultimately, they can provide a plan for the future of the employer-employee relationship. Here’s how to do them right. View Full Article
Mission Possible
If your company doesn’t have a mission statement, or the existing one is stale, creating a new one can be an enjoyable, team-building experience. Start by looking at examples. Dig in to figure out what’s important to your company. Once you’ve crafted a new one, share it with your customers, vendors and colleagues. View Full Article
Spring 2010
Best Practices in Security
Unfortunately, too many business owners wait until it’s too late to worry about security. Here are some are simple steps you can take to protect what you’ve worked so hard to build. View Full Article
Doing Business in the U.S.
Expanding into the U.S. is a great idea for many Canadian businesses, but be sure to proceed with caution. NAFTA, the Canada US Tax Treaty and other regulations must be considered before doing business across the border. View Full Article
Disability Insurance Update
Without appropriate disability insurance, individuals - and companies - can suffer devastating consequences from lack of income. Business owners have several corporate disability options to consider. View Full Article
CRA Electronic Filing
Beginning with tax years ending after 2009, corporations with gross revenues over $1 million are required to file their T2 returns electronically. Certain GST/HST registrants will be required to file electronically, too. View Full Article
Winter 2010
Exit Planning 101
Are you ready to leave your company? Is your company ready for you to leave? A sound exit plan can ensure that both the owner and the company are prepared for the future. Here are some exit planning basics you need to know. View Full Article
How to Keep Key Non-Family Employees Motivated
Non-family employees sometimes feel they can only go so far in a family business. But progressive companies are considering innovative ways to keep them motivated for the long term. View Full Article
Outsourcing Your IT
Thinking about outsourcing your IT? Motivated by reliability and cost, more companies are turning to outside experts to handle some or all of their IT requirements. View Full Article
Fall 2009
The Importance of Forecasting and Budgeting
Learn solid business practices to help plan for the future. This simple process is crucial to creating a realistic growth strategy. Consider using these methods in your business as you approach your next fiscal year. View Full Article
Shareholders' Agreements Help Partners Avoid Trouble
These essential documents, which protect both the company and its shareholders, provide a roadmap for the company to follow in case of death, disability, divorce, dispute and debt. Don't be caught without one. View Full Article
How to Hire Relatives
Learn the "right" way to bring relatives into the business. Be sure everyone is aware of what's expected in terms of education, work experience and performance. Having family employment policies is a good place to start. View Full Article
Preventing Internal Fraud
A sound system of internal controls will help protect your company from employee theft. View Full Article
Spring 2009
Good Housekeeping: Tax Tips for Businesses
"Good Housekeeping" provides readers with four tips to minimize interest charges and penalties and make filing taxes easier. Specifically, paying and filing on time, using CRA online services and tips regarding family salaries. View Full Article
Consider a Plan for Long-Term Success
Do you understand the value of having a sound succession plan? Whether transitioning to a family member or a third-party, a team of advisors can guide the entire process, but the business owner’s long-term goals should be established well before the transition. View Full Article
How to Protect Your Company from Cheque Fraud
This article outlines the dangers of businesses using cheques and provides a list of technologies that can be substituted for cheques to make payments, which includes online bill payment, payroll direct deposit, cheque verification and lock boxes. View Full Article
Make Your Case to Fund Growth
"Make Your Case to Fund Growth" details bank funding strategies during challenging economic times. View Full Article