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Copyright - ETHOS Career Management Group Ltd.

Resources

Resources:

If you do not have a business plan, this guide from the Business Development Bank of Canada will help you create one: https://www.bdc.ca/en/articles-tools/start-buy-business/start-business/create-effective-business-plan
This article from Futurpreneur Canada provides strategies to review and update your business plan: https://www.futurpreneur.ca/en/resources/operational-and-financial-planning/tips-tools/your-business-check-up/
This article from Entrepreneur discusses how a business plan is always changing and expresses the value of monthly and yearly business plan updates: https://www.entrepreneur.com/article/159552

Resources:
- FreshBooks reviews how to set up an accounting system for your small business: https://www.freshbooks.com/hub/accounting/do-accounting-small-business
- Online accounting service Avalon also has advice on the subject: https://www.avalonaccounting.ca/blog/small-business-bookkeeping-guide
- Business funding platform Fundera curates some of the best books for those looking to learn small business accounting: https://www.fundera.com/blog/best-accounting-books-for-small-business
- Finance website The Balance also offers a list of books for those entrepreneurs wishing to do their own accounting: https://www.thebalance.com/best-accounting-books-4797472

Resources:

- The website for accounting software FreshBooks asks these questions to determine if your business needs an accountant: https://www.freshbooks.com/hub/accounting/do-i-need-an-accountant-small-business
- Cloud-based accounting platform Xero also suggests times when your business should consider reaching out to an accountant: https://www.xero.com/ca/resources/small-business-guides/accounting/when-to-hire-accountant/

Resources:
- The website for accounting software FreshBooks asks these questions to determine if your business needs an accountant: https://www.freshbooks.com/hub/accounting/do-i-need-an-accountant-small-business
- Cloud-based accounting platform Xero also suggests times when your business should consider reaching out to an accountant: https://www.xero.com/ca/resources/small-business-guides/accounting/when-to-hire-accountant/

Resources:

- This article from online accounting service Enkel further explains how bookkeepers and accountants offer your business different things: https://www.enkel.ca/blog/accounting/difference-accountants-and-bookkeepers/

- Resources:
  - A well-respected YouTube channel entitled CrashCourse has created hours of informative content on business skills, entrepreneurship, and economics: https://www.youtube.com/user/crashcourse/playlists?view=50&sort=dd&shelf_id=10
  - The Business Development Bank of Canada routinely hosts free webinars that cater specifically to Canadian entrepreneurs: https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/webinars

- - Resources:
    - This robust resource from the University of British Columbia gathers dozens of links to small business financing opportunities in one convenient place: https://sba.ubc.ca/business-basics/funding-financing
    - The Government of British Columbia allows you to search a database of possible business grants in the province: https://www2.gov.bc.ca/gov/content/employment-business/economic-development/funding-and-grants
    - The Government of Canada also has a resource that allows you to search for possible grants, loans, and other types of financial support for your small business: https://www.canada.ca/en/services/business/grants.html

Resources:

- - - - One of the best ways to network with other entrepreneurs is through social media: LinkedIn is the primary social network that caters to business interests. You can also reach out to other entrepreneurs through Facebook and Twitter.
      - This blog post from online fundraising platform Classy suggests three other ways to meet with entrepreneurs in your own city: https://www.classy.org/blog/connect-entrepreneurs-own-city/
      - Fundera, another business financing platform, collects seven other ways to network with other small businesses: https://www.fundera.com/blog/network-with-other-small-businesses

Resources:

- - - - If you do not have a business plan, this guide from the Business Development Bank of Canada will help you create one: https://www.bdc.ca/en/articles-tools/start-buy-business/start-business/create-effective-business-plan
        
        This article from Futurpreneur Canada provides strategies to review and update your business plan: https://www.futurpreneur.ca/en/resources/operational-and-financial-planning/tips-tools/your-business-check-up/
        
        This article from Entrepreneur discusses how a business plan is always changing and expresses the value of monthly and yearly business plan updates: https://www.entrepreneur.com/article/159552

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Check out the information on the three key financial statements within the Financials Moving Forward Section:
- Balance Sheets: https://cfnoresources.ethoscmg.com/topic/balance-sheet/
- IncomeStatements: https://cfnoresources.ethoscmg.com/topic/income-statement/
- Cash Flow Statement: https://cfnoresources.ethoscmg.com/topic/cash-flow-statement/
This article from accounting software creator FreshBooks will get you started on the principles of budgeting your small business: https://www.freshbooks.com/blog/the-5-step-plan-to-creating-a-balanced-business-budget
This guide from online bookkeeping service Bench has advice on and templates for budgets for different types of businesses: https://bench.co/blog/accounting/business-budget/

Resources:

Resources:

Resources:

- - - - The Business Development Bank of Canada’s website allows you to apply for advisory services: https://www.bdc.ca/en/consulting

Resources:

- - - - Additional information on cash flow, grants, and loans is available on [THIS LMS WEBSITE]: [LINK]

Resources:

- - - - The Government of Canada website has information and guidelines on hiring and managing employees: https://www.canada.ca/en/services/business/hire.html
        
        For more hiring and management resources, check out the Business Development Bank of Canada website: https://www.bdc.ca/en/articles-tools/employees

Resources:

- - - - For a discussion of how to seek out an accountant, see [OUR LMS WEBSITE]: [LINK].
        
        The Canadian Revenue Agency’s website has information on business tax write-offs: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/business-expenses.html
        
        The Business Development Bank of Canada also has resources on the subject: https://www.bdc.ca/en/articles-tools/money-finance/manage-finances/tax-deductible-expenses

Resources:

- - - - This article from online accounting service Avalon further elaborates on the differences between salary and dividends: https://www.avalonaccounting.ca/blog/2018/3/28/salary-vs-dividends
        
        Business advice website The Balance also discusses the pros and cons of salary and dividends in this article: https://www.thebalancesmb.com/salary-or-dividends-how-do-i-pay-myself-2948231
        
        Also from The Balance, this article references two ways of income splitting through your small business: https://www.thebalancesmb.com/pay-less-canadian-income-tax-with-income-splitting-2947329

Resources

This video from online bookkeeping service Bench discusses the basics of cash flow statements: https://www.youtube.com/watch?v=wROrC2sHd8k
This article from Harvard Business School teaches how to read a cash flow statement: https://online.hbs.edu/blog/post/how-to-read-a-cash-flow-statement

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