Blog

Archives

Tips for first-time business owners

Not every new young entrepreneur has the luxury of having a mentor to help guide him or her on their first business venture. So finding guidance is up to them and it usually requires a great deal of research. Even if a new entrepreneur can find a mentor, he or she still needs to do research and learn about the market they are about to enter. It is not uncommon for first time entrepreneurs to want to jump at every opportunity that passes in front of them. They start off with one business idea and along comes a distraction, or they think they can handle more than one business idea at the same time. The problem is that they lose focus on their first business and their productivity eventually suffers. Choosing the right business is important. But choosing a business to start because it is the ...

Office space versus a virtual office: Which is best for you?

There is no reason not to have an upscale professional business address. But you do not necessarily need to have a physical office at that particular location. Sometimes a physical office space is important to your business, but what if it is not? Let’s talk about the best options for your small business. There are a range of business address options to choose from, including traditional raw office space, serviced office space and virtual offices. But which one is the most flexible and cost-efficient fit for your small business? Many small businesses owners and entrepreneurs may not have the financial capacity to lease traditional physical office space and pay for the infrastructure that type of space requires. The cost of office furniture, telephone systems and other office equipmen...

Advantages of Live Seminars Over Virtual Seminars

As we have written about (along with many others who have likely giving you small business advice), one of the best new ways of talking to customers and potential clients is by doing seminars and webinars. But what are the advantages of having live seminars over virtual/online seminars and training sessions? Having the choice available for attendees is key. First, having your attendees in the same room as you are gives you the chance to truly interact with them. But it also provides more networking opportunities for your attendees with others. People are more likely to network more closely with others in person rather than online. We are, after all, social creatures. When you have people coming to your seminar or training session, you have a greater opportunity to gather more information a...

How to Gain Trust for Your E-Commerce Business

Far too often, small business owners jump to the conclusion that the reason for a lost sale is their price point. What they often fail to realize is that the online customer abandons the cart because there is a trust issue with the site. Unless you have a long-term relationship with a customer or you also run a brick-and-mortar store that the customer has seen or been in, it can sometimes be hard to build that trust for a customer to make a purchase. You have to remember that mega online sites like Amazon did not gain the trust of customers the first day they opened. They had to have a plan to build trust. Unlike a physical location, customers who come to your online store do not have the experience of touching or feeling what they may be purchasing. It is not only your brand that customer...

What is Canada Day?

We have been recently publishing information for Americans looking to expand their businesses into Canada. On a recent prospect call, a U.S.-based business asked why we would be un-staffed on July 1. The simple answer would have been that it’s Canada’s version of the 4th of July, but we wanted to expand on the answer here. Canada Day is the national day of Canada, a federal statutory holiday celebrating the anniversary of the July 1, 1867, enactment of the Constitution Act, 1867 (back then it was called the British North America Act of 1867), which united three British colonies into a single country called Canada. Originally, the holiday was called Dominion Day, but it was renamed in 1982, when the Canada Act was passed. Canada Day observances take place throughout Canada as we...

Virtual Office Solutions for Opening a Canadian Branch Office

The two most common ways in which foreigners register to operate their businesses in Canada are through the registration of a Canadian branch or the incorporation of a Canadian subsidiary. When a foreign company is looking to expand its business into other markets, it usually just opens a branch office to test the waters – because the cost of registering a branch office with the government is less expensive than potential legal fees involved with incorporating a subsidiary. Having only a branch office allows foreign companies an easier exit from Canada if they do not see the results they were expecting in their expansion. Often companies looking to open a branch office in Canada will look to set up office space at a serviced office business centre where they are not tied to a long-term lea...

U.S. start-ups should begin international expansion in Canada

Often when we think about start-ups, we think of technology start-ups. But in reality, every business that is starting out is a “start-up” – so it is not just technology companies we are referring to.  It is any company in the early stages of growth. Every successful start-up reaches a point where all the advantages of being first to market with little competition are gone. Many start-ups will look to international expansion to maintain a rate of growth that maximizes resources that become redundant, without new accounts to service or more products to make for new customers. Many start-ups are overlooking Canada, preferring larger emerging markets. But start-ups in particular should be looking at Canada for the following reasons: Logistics enables the leveraging of U.S. assets ...

June is Bike Month

June is Bike Month, a celebration of cycling in the Greater Toronto Area with hundreds of community events scheduled – including rides, races, tours, festivals and more. Bicycle commuting is becoming more popular in Toronto. In fact, many of our office tenants cycle to work or leave the office by bicycle – and we want to encourage more people to do the same. There are plenty of dedicated bicycle lanes downtown, but none as spectacular as the Queens Quay portion of the Martin Goodman Trail. This trail leads you right to the front doors of 1 Yonge Street. There are plenty of bicycle racks on the Yonge Street (west) side of the Toronto Star Building and a few on the Queens Quay (south) side of the building. There are even people in the building who have collapsible folding bikes that they tak...

Why a Business Centre is the Best Solution for Opening a Canadian Branch Office

Opening a branch office or other corporate or legal Canadian business type in Canada is much like starting your business all over again! You have an expansion plan; researched the best business “entity” for your business and decided upon whether to have a virtual office from your home or rent office space, warehouse or storefront. Then you have to set up a legal entity to do business under and to carry out setting up the business. All of these activities will require a Canadian address. Without a Canadian address, you are in bureaucratic ‘quicksand.’ The Virtual Office Options There is not much to consider when deciding whether a P.O. Box is appropriate over a virtual address because a P.O. Box is not a legal address for the purposes of incorporation or almost any l...

Summer hours: Do they work for your company and your employees?

Most companies want to keep employees happy during the summer months, without losing productive hours from those same employees. One solution that many companies have found is offering workers the flexibility of having an early finish on Fridays. Workers either come in an hour early or stay an hour later 4 days a week, so they can work a 4-hour day on Fridays. The concept of having flexible summer hours sounds great in theory, but it does not work for every business model. For companies who are heavily contacted during regular business hours for sales and customer service calls, closing the office early on a Friday afternoon might not be an option. However, as much as you warn customers of early closings on Fridays, they still expect to have their calls answered when the need help at 4:45 ...

Skip to toolbar