Business

Government Business Financing In Canada Canadian Govt Loans Deliver

May 24, 2017 Business

Government business financing in Canada – While many entrepreneurs have heard of Canadian govt loans they have not fully understood his business finance offering. Let’s ‘ unbox ‘ the program and discuss the merits and applicability of this loan to your business – and that applies to start ups, franchises… in fact any business tha is under the pre-requisite 5 Million in revenues. Let’s dig in

Established by the federal gov’t many years ago the Small Business Financing program is dedicated to helping new , young, and growing businesses access the financing they might otherwise not receive.

The uniqueness of loan is that the majority of the loan is ‘ guaranteed’ to Canadian banks which offer the financing. At the end of the day it’s the govt commitment to encourage Canadian banks to lend to new and smaller businesses. Naturally one of he benefits to the government is the overall economic stimulus in employment, taxes, etc.

In recent years upwards of 7000++ businesses access the loan annually – for billions of dollars. The accessibility of the loan is augmented by the fact that Canadian ‘ bricks and mortar’ branches are on every main street in Canada. (Truth be told the challenge is not finding the right bank, it’s finding the right banker).

The ability to get approved for a govt small business loan in Canada provides realistic access to capital for businesses who otherwise cannot qualify for ‘ traditional ‘ loans. Yet the actual offering of the program is just that – a traditional term loan at attractive rates, great amortizations, and even the ability to pre-pay without penalty.

Many businesses who utilize the loan are either new, or in some cases purchases of businesses, including the very popular ‘ franchise ‘ segment.

The requirements of the loan are pretty basic – the owner must have reasonable good personal credit history, and must be able to contribute a minimum of 10{53ea8b040b60e256ffda5520b177872b7fbe52970942769c05b25cbfd1062072} or more of permanent capital to the financing in question. The loan can only be used to finance 3 separate asset categories – equipment, leasehold improvements, and real estate. (The latter, real estate is rarely used in our experience as commercial mtges are more suited to this type of finance need).

As important to understand what the loan does to is what it doesn’t offer. You cannot use proceeds to refinance existing loans or for working capital/line of credit needs.

Other key aspects of getting approved include a good business plan, a cash flow forecast, and basic info on your business location, previous business experience, etc.

If you’re looking to ‘ unbox ‘ government business financing in Canada seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist in making Canadian govt loans a realistic part of your new or existing business venture.

Stan Prokop

Small Business Dashboard Design Dos And Don’ts

May 23, 2017 Business

A business success dashboard is a computer based reporting application that displays your key business metrics in gorgeous colourful graphs that all but smack you in the face with startlingly practical insights about how to boost your business success.

No longer do we need to rely on black and white printed sales reports choking with numbers arranged in columns and rows. Ick! You can’t get powerful insights from looking at numbers arranged in tables – it’s scientifically proven, so don’t bother arguing! 😉

The really exciting and cool thing about business success dashboards is that they take the guesswork out of your decision making.

Dashboards put right in front of you the bare facts about show-stopping results like how well your marketing is attracting profitable leads, how easily you can convert a lead into a customer, what your customers like and don’t like, where you’re wasting time in your business and how healthy your cash flow is.

But as a small business owner or entreprenuer, you’ll only give your time to setting up your business success dashboard if it’s fun, fast and profit-building. So here are 7 dos and don’ts to make sure your dashboard is:

1. DO start with just a few business metrics, like profit, revenue, cash flow, new leads, website visitors – whatever you’re measuring and tracking now. DON’T wait until you have worked out all the measures that matter for your business: it will take forever, you’ll get bored with it and you’ll be missing profit pumping opportunities from the measures you already use.

2. DO use basic tools you already have – like Microsoft Excel – until you get into the groove of dashboarding and using your business metrics to manage your business. DON’T invest in flashy software until you know how you want your dashboard to serve you.

3. DO use simple line charts to display your measures so you can see trends over time – the trends are more important than the points. DON’T compare this month to last month, or do any other two-point comparisons like this – you never see the real trends or get any real insights this way.

4. DO include Pareto charts to dig into your data, such as to show you the 20{53ea8b040b60e256ffda5520b177872b7fbe52970942769c05b25cbfd1062072} of marketing campaigns that bring 80{53ea8b040b60e256ffda5520b177872b7fbe52970942769c05b25cbfd1062072} of your customers, or the 20{53ea8b040b60e256ffda5520b177872b7fbe52970942769c05b25cbfd1062072} of sales that bring 80{53ea8b040b60e256ffda5520b177872b7fbe52970942769c05b25cbfd1062072} of the revenue. DON’T ever use pie charts – they absolutely suck when it comes to giving you any kind of useful information from your data.

5. DO let form follow function, and only include the measures that matter to your business, and the graphs that best reveal those measures’ trends and insights. DON’T go all Picasso on it – limit your creativity to choice of colours, not to find out how many forms of bling you can build into it.

6. DO use your dashboard weekly, to look for clues about the best ways to ramp up your business results. DON’T lose the discipline of regularly tracking, testing and tuning your business – sure, the dashboard will only be one input to managing your business but it’s an essential input.

7. DO get help from someone who’s really ofay with Excel and graphs, or someone who is experienced with measuring and tracking. DON’T rely on dashboard software people who can’t demonstrate skills in choosing meaningful measures and displaying them appropriately (they usually get carried away with pretty but useless guages and dials). DON’T freak out trying to do it yourself either – the difference that a business dashboard will make to your success and sanity is too valuable.

TAKE ACTION:
If the Dashboard Fairy granted you a wish to instantly dashboard 3 measures of your business success, which 3 measures would you choose? What are the 3 most important results that have the most leverage to increase your profits, and improve your work-life balance? Now set up the world’s simplest dashboard using Excel, to start tracking those measures. And finally, commit to taking at least one action to improve the results those measures reveal to you.

Sap Business One Consolidated Profit And Loss Statement How To Build

May 23, 2017 Business

Business One is good solution when you are midmarket organization with attributes of multinational corporation, such as branches in foreign countries and headquarters and research facility in the United States. SAP B1 is popular in international business scenarios as it is localized in such popular regional powers as China, Brazil and Russian Federation. There are known cases studies when companies with non-SAP Corporate ERP applications launched Business One for their branches in Brazil and later one switched to it in the headquarters as well. There are some challenges however and one of them is consolidated financial reporting. As you may know such popular tools as Microsoft Management Reporter and FRx do not have GL connectors to SAP BO. Some customers are doing GL trial balance export to Excel and then prepare it to fit consolidation template. This is definitely possible way but you may mention that it is time consuming and open to human errors. In this publication we recommend old-good-days method of GL consolidation:

1.How does it work conceptually? You have to create new company with account structure matching your template. Then you schedule regular GL entries migration into this company General Ledger. This company obviously doesnt represent legal entity but it has all your branches GL activity and ready for consolidated Balance Sheet and P&L. You can use internal reporting

2.How does it work technically? You can deploy several tools. First of all it is possible to pull GL records via Data Transfer Workbench when it has integrations for each company SQL database via ODBC. Second method is programming with Software Development Kit. This second method might seem like something challenging. However it is only one type of transactions and code samples in VB and C# are straight forward. There are ISV products working with SAP B1 SQL database via direct data feed. They are usually expensive and require learning curve. But if you are ready to deploy luxury solution then you should probably make your homework

3.International Business Specific multicurrency. Business One is multicurrency enabled so in our opinion it is just one additional factor to incorporate into the solution. We have done it for the company which operates in Brazil and USA with respectively Real and Dollar

4.Standard for Chart of Accounts. This might be additional challenge as often company deploys the same system in several countries but contracts different consulting partners to do from ground up implementation without coordination with central office. In consolidated financial reporting Chart of Accounts should be reviewed and unified in all business entities. In any case this is good exercise in order to understand you foreign country branch operations and finances or in other words strengthen central control

5.Other aspects of multinational environment and Business One. It is generally good idea to host all the installations on the server located in the Headquarters. There are definitely some specifics associated with foreign company regulations and tax code. But these compliances should not be the central emphasis. Instead you should think about your new Corporate ERP system as the tool allowing you to exercise tight central control over all of your overseas subsidiaries. General advice is to assign chosen consulting organization here in the United States for picking subcontractors for each country to implement just compliance related functionality. Compliance is just a small part of what the system is for

6.Please call us 1-866-304-3265, 1-269-605-4904 (for international customers, where our representative pick up the phone in St. Joseph, MI call center). [emailprotected] We have local presence in Chicagoland, Southern California, South West Michigan and Houston and Dallas areas of Texas. We serve customers USA, Canada, Mexico and Brazil nationwide and internationally via web sessions and phone conferences (Skype is welcomed). Our consultants speak English, Spanish, Portuguese, Russian and Chinese. We feature our expertise is in International Business. We provide second opinion in SB1 data migration, customization and reporting

Objectives Of Business Analytics Training And How It Helps On-the-job

April 24, 2017 Business

Business analytics is the subset of business intelligence, which creates capabilities for companies to compete in the market effectively. Business analytics training courses are designed to provide in- depth knowledge of handling data and business analytics tools that can be used for fact-based decision-making. By training, one can analyze data using statistical and data mining techniques and understand relationships between the underlying business processes of an organization, learn decision-making tools/operations research technique, use advanced analytical tools to analyze complex problems under uncertainty, manage business processes using analytical and management tools, use analytics in customer requirement analysis, general management, marketing, finance, operations and supply chain management, etc. Evidently, business analytics training enables the individual to analyze and solve problems from different industries such as manufacturing, service, retail, software, banking and finance, sports, pharmaceutical, aerospace etc.

There are many ace business analytics courses in India. Certified Program in Business Analytics from Indian School of Business is one such top-notch course covering several topics. The course uses technology-aided platform. There is ample industry interaction and a project at the end. Many such institutes tie up with international educational boards and universities for better facilitation and barter of knowledge and learning techniques. These courses have been consistently high on quality because of the breadth of material covered, encompassing aspects of structured thinking, advanced topics like Big Data, Data Visualization tools and methods. The quality of content is high as it takes into account factors like industry interaction, pedigree of the faculty, time spent on classroom interaction.

Business analytics is a crucial tool to guide business operations towards achieving strategic objectives in any industry. Understanding and learning Business analytics is becoming a necessity for all business professionals. There are many institutes in India that offer business analytics certification courses. These are mainly focused on the transformative capabilities of BA and the technologies needed for implementation. The certificate courses are designed to facilitate integrating BA into enterprise business processes. Professionals seeking further education to stay abreast of business concepts and technology, specifically in business analytics and decision analysis can pursue these courses. Thus Indian institutes are slowly catching up with the new buzzword analytics. Apart from the regular colleges, there are several analytics training institutes that are offering their own business analytics courses or are in collaboration with renowned institutes.

Lenders To Avoid – Business Loan And Commercial Mortgage

April 24, 2017 Business

I have published many articles which are designed to assist commercial borrowers in avoiding commercial loan problems. One of the most serious commercial mortgage business loan situations is a commercial lender that causes problems for their commercial borrowers on a recurring basis. It is particularly this type of commercial lender which prudent commercial borrowers should be prepared to avoid unless viable alternative business financing options do not realistically exist.

As a direct result of my commercial loan experiences advising business owners for over 25 years and regular conversations with other business financing professionals, I do in fact believe that there are a number of commercial lenders that should be avoided. This conclusion is based on a recurring pattern of lending abuses by some business lenders.

This article will not name specific lenders to avoid, but specific examples will be provided to show why informed commercial borrowers should be ready to avoid a variety of business lenders in their search for viable commercial loan solutions. This business financing strategy article will illustrate the significant benefits of avoiding “problem lenders”.

Meaningless Pre-approvals for a Commercial Mortgage Business Loan

An early commercial mortgage pre-approval is often sought by commercial borrowers. The expected advantage to this initial commercial loan approval is that the business borrower can make other business arrangements which are based on the business financing being completed.

An ethical commercial lender will treat any form of business financing approval very seriously. Commercial borrowers should expect that a meaningful version of such an approval will not be realistically possible in just two or three days.

However, there are lenders who prepare a misleading and questionable version of a pre-approval shortly after receiving minimal application data. Because this approach often produces surprises for the borrower as the commercial mortgage process moves forward, borrowers should be wary of any lenders that do this.

Why do some commercial lenders provide such meaningless pre-approvals for a commercial mortgage? There are two likely reasons. (1) To motivate the commercial borrower to stop considering other potential commercial lenders. (2) To provide a business loan pre-approval that is similar to a structure prevalent with residential loans.

Because many commercial loan situations are facilitated by residential mortgage brokers who are typically unfamiliar with normal business financing requirements, this reason will be especially relevant with business lenders that primarily work with residential mortgage brokerage firms. Such a lender should be avoided for most commercial mortgage circumstances.

Commercial Mortgage Loan – Yes or No?

I have published an article which discusses the tendency of many banks to say “yes” when they mean “no”. Such banks will typically attach onerous business financing conditions to commercial loans instead of simply declining the loan. Business owners should explore other commercial mortgage alternatives before accepting commercial financing terms that put them at a competitive disadvantage.

Think Outside the Bank for a Commercial Mortgage

In some non-competitive business markets, it is unfortunately common for a lender to employ business loan terms that would typically not be seen in a more competitive commercial loan environment. Such business lenders can repeatedly take advantage of a non-competitive commercial lending imbalance.

An appropriate response by commercial borrowers is to seek out non-bank commercial loan options. It is neither necessary nor wise for commercial borrowers to depend only upon local traditional banks for commercial mortgage solutions. For most business loan situations, a non-local and non-bank commercial lender is likely to provide improved business financing terms because they are accustomed to competing aggressively with other commercial lenders.

Commercial Property Commercial Loan Appraisals

For commercial mortgage loans, commercial appraisals are an unavoidable part of the commercial loan underwriting process. The commercial appraisal process is lengthy and expensive, so avoiding commercial lenders which have displayed a pattern of problems and abuses in this area will benefit the commercial borrower by saving them both time and money.

Copyright 1995-2007 AEX Commercial Financing Group and Stephen Bush. All Rights Reserved.

How Your Business Can Benefit With Video Surveillance In Chicago, Il

March 25, 2017 Business

When you are running a business, the most important thing that you need to keep an eye for is ensuring appropriate security for your business premise, assets and of course your employees. While the traditional concept of security was always associated with appointing security guards, things have evolved remarkably with the passage of time. In present times, video surveillance is considered one of the most effective ways of ensuring security for residential as well as business premises.

Wondering how you can benefit by installing video surveillance system? Here is what you need to know:

With video monitoring you can efficiently keep track of who is entering and leaving your business premise.

Because video surveillance in Chicago, IL provides real time monitoring, it helps you view all that is happening in your business area even when you are away from your office.

All the incidents taking place in your business area are recorded. In the event of a mishap, when police investigation is required, these recordings can be immensely helpful.

In case an employee make compensation claims for injuries they have suffered while being on duty, recordings provided by the security cameras can help determine the validity of their claim. This can save you a good deal of money you would have needed to spend due to false claims made by an employee.

Through video monitoring, you can keep a watchful eye on your employees and evaluate their professional performance. As a matter of fact, when your employees know that security cameras are being used to monitor them, they make extra efforts to prove their efficiency and dedication. Consequently, video surveillance in Chicago, IL can contribute effectively to enhance employee productivity.

If at any point of time you suspect that one or more employees are engaged in unethical practices like theft, installing security cameras can provided you necessary proof needed to verify your suspicion.

Surveillance systems are available in a wide range of sizes and shapes. It is important however that the right system is installed as per your requirements, conveniences and budget to ensure efficient video surveillance. A reputed and reliable installer can provide you customized solution catering perfectly to your business needs and interests.

A structured cabling system plays an important role in ensuring effective and organized access control system. Structured cabling in Milwaukee, WI serves the purpose of providing a device independent infrastructure for telecommunications, data and VoIP.

In earlier times, a building’s network comprised multiple wiring systems, each having a different standard and protocol. However, this system made it difficult to manage the network and transmit data in any format. In present times, structured cabling presents a number of advantages in terms of maintenance, flexibility, obsolescence, reorganizing and management.

A reputed installer of video surveillance in Chicago, IL can provide all the assistance and guidance you need to know the key benefits of video monitoring and to choose the device that best suits your requirements and budget. They also provide solutions for structured cabling in Milwaukee, WI to ensure organized and precise functioning of your surveillance system.

How To Become A Quality Business Mentor

March 25, 2017 Business

To become a business mentor is perhaps one of the most challenging and rewarding things which you are required to do with your time. Providing help to those people who are just taking plunge in the business and giving them your useful advice from your past experiences, developing a friendship and then becoming a confidante are some advantages which you can get from becoming a mentor.

Despite this notion, mentoring is inappropriate for all and sundry since certain criteria needs to be fulfilled for some people in order to get the most out of the experience while for others is to take advantage of your past experiences. Probably the most important quality and aspect required to become a successful business mentor is having the capability to listen to what others have to say and pay respect to what they are confessing.

You should be capable of having sympathy with the person when needed and be capable of relating to the problems and how they are feeling about them. Your practical advice and ideas is very important but you should bear in mind that you are there to give advice and that too with honesty. When you have listened and given good advice, then it is time for you to take a back seat and let the other take responsibility for their decisions and actions.

Remember that mentoring is highly rewarding with no any doubt and it can be so if you are the best friend for the owner of small business, who is just taking the initiation. Here, you will get the opportunity to give advice and grow with the company and person and mark the difference, which you are making both to the person and business.

A business mentor should remember that his or her role is to be there for the person in order to give advice, stimulate, support and help the business to flourish while proffering the person some challenges. The perfect business mentor is that person, who has started a small business successfully and had good success with it.

The important skills for becoming a business mentor are having empathy, availability and ability for others and intention to assist others in becoming successful.

So this was all about how to become a quality business mentor. If you are interested to become a business mentor, then you need to masters all those skills which are required. All such skills have been explained above. Make yourself familiar with those skills and become a successful business mentor.

Good Business Habits

March 23, 2017 Business

Let me tell you straight, you cannot be a successful business person if you don’t have good business habits. Below I have listed a few habits that you should be doing if you wanted to be a successful business person!

1.) Are you committed to every business you have?

Opening a business is easy but maintaining its operation will take a lot of you time. Will you be available in creating marketing plans and promotional materials? Business without marketing plans is suicide. Once you start a business, put every attention to it. Don’t let your employees manage it. Take note of this, you are the only person who has vision for its success so its only you who can make it
grow.

2.) Are you continuously searching for opportunities?

Business people don’t just stick on 1 or 2 business. A business person always searches for more business opportunities. They are not mediocre. They don’t want stable business but rather a growing one. Always search for new ideas to pursue.. A business person has a vision for numerous income streams for profits!

3.) Do you think positive about you business?

A business person don’t pursue a business to which he/she doesn’t feel positive about. Once you start a business, don’t fill your mind with any negative thoughts. Problems may come your way but it will always have a solution. Business people don’t think of failures, always success behind every problem.

4.) Do you share the business vision?

You can’t survive on your own. You may be skillful at some point but it can’t make you very successful. A business person shares a business vision, to someone else, to a possible business partner. If a single business person can earn $1000 a month, then 2 person can earn $2000 a month. Simple logic but its reality. You can earn more as long as you share same vision with someone else.

5.) Do you delegate tasks?

Normally, every business person only thinks of opportunities and its corresponding marketing campaigns. It will not be healthy if the business person will also do the action of implementation. He will be dead meat if he/she will put every burden unto their shoulders. In fact, employees purpose is to put every plan into action, right?

6.) Do you create a good public image?

People are very sympathetic. They support the business whom they like the owner. Whether you like it or not,if people like your attitude and way of doing business, they will support you. But if you look like a bad boy or a person who looks down and criticizes people, believe me, you will loose every customer you’ve got!

Start creating a good public image. Help support the community where you belong. Extend some help to those in need. Don’t act as if what’s the only thing important to you is your profits and earnings. Make the public see that you care.

Powerful Methods To Stay Successful In Business

February 26, 2017 Business

In business, achieving success is merely half the battle won. The other half? As many veteran businessmen would agree, sustaining success  staying on top of your game and on top of THE game  is the more difficult part of owning and operating a commercial enterprise.

Case in point: flash-in-the-pan businesses are a dime a dozen these days. Overnight successes are stories that are quite commonplace. But businesses that last for years, if not decades? Alas, theyre rarities in this day and age!

The goal isnt merely to succeed in business. The goal should be to remain successful in business.
Here are 5 powerful principles to live by if you want to achieve such a goal:

1. Believe in your business. Your business is bound to encounter many challenges and many tribulations along the way. Some of these trials would be grave enough to make you consider quitting. But should you? Remember: if you dont believe in your business, if you dont believe that it can succeed, then why should your prospective customers believe that your business is the right choice for them? Your faith in your business will go a long, long way in pushing it to reach its fullest potentials.

2.Find satisfaction in what youre doing. If you do not find contentment in what youre doing, then its just a matter of time before you give up on your business. Fulfillment can be attained in so many ways. If you cannot find that sense of fulfillment from your business, its either because: a) youre not looking hard enough; or b) youre looking at the wrong place. The smallest victory can be a cause for celebration. And the tiniest of triumphs can even provide the biggest kind of satisfaction.

3.Make your customers satisfaction your primary goal. Profit is good, but it shouldnt be the driving force of your business if you want your success to last. The happiness of your customers should be your paramount concern. Remembers, happy customers are customers for life.

4.Strive to improve your craft and your trade. Never rest on your laurels. Always try to be the best you can ever be when it comes to the things you do for a living.

5.Have fun! They say that the best kind of moneymaking opportunity is one that you enjoy doing. If you will find such a business, then youve hit the jackpot. Now, no one said that this jackpot cant be created. You can find enjoyment in what youre doing. Even if the business wasnt born from a hobby you once nurtured, you can still find ways by which you can make it very exciting and very enticing for you. Your enthusiasm for your business will eventually show in the products you will deliver.

Establish Unique Identity By Business Card Printing

January 8, 2017 Business

To establish an identity of any corporate organization people use to print a card which show a brief status of the group is calling business card. Communicating with other individuals or group and introduce the identity of organization business card is essential. There are many types of business card printing methods. Those are standard card, die cut business card, silk card, foil card, plastic card, etc. Out of this entire die cut business card is the perfect choice of those stan-dard business people who want to show their business card in a unique and attractive way, they go for die cut business card. But for some business it seems costly. Most organization goes for cheap business card to reduce their production expenditure. To attract the consumer of business card printing press also provide same day business card.

Here the businessperson has to bring the layout or design of the card and card will be delivered I very short time. Same day business card may not be cheap though the customer provides the design. Business card printing is competitive business in printing world. There is some distribu-tion company who are only doing business card printing. It’s more challenging and more profita-ble in one side, and companies are paying a significant amount of money to make their business card unique and gorgeous then the others. On the other hand, cheap business card is also popular in the corporate market.

In a small business, cheap business card like a standard card more popular then the expensive die-cut business card. Some people pay less for their company card expenses go for ordinary standard card printing can be various types. From student ID card to business professionals every person keeping a card now days to introduce their self to other easily. And a card also es-tablishes the identity of an individual and brief of his/her activity. Depend on all demand cards printing business growing every day. Some printing shops are especially focused on print card because it’s more time-consuming, cost efficient and more profitable. As the demand increase, the distribution companies start to offer more facility to their customers. Now all printing com-pany having a significant collection of card layout from that customer can choose the best design which is suitable for their cards.

First approach is one of the most important things in the business world. It says that corporate work almost half done by how a person introduces him/herself and their product in the market. For this reason, people are paying plenty of money for their business card. By make business card, more efficient one shows their efficiency and elegance and uniqueness in the market. And depend on this as business card demand is increasing, printing companies start to introduce new design, graphics, and layout. This business card printing sector begins to build in a hard rock and the rock getting stronger and efficient every day. There for now a days card printing com-panies became corporate company itself. So, it is very important to do keep those in mind.