Small business owners face a pay predicament: salary or dividend?

When Daniel Cowan incorporated his holiday lighting business, , he had a decision to make about how he wanted to pay himself – as an employee or a shareholder. As an employee, Mr. Cowan would take a salary and have to contribute to the Canada Pension Plan (CPP) as both an employer and an employee, at a cost of up to about $5,000 a year. He would also develop room to contribute to a registered retirement savings plan (RRSP), which is tax deductible. As a shareholder, Read more [...]
4 Comments Categories: Small Business

Vinyl revival: Canadian company reinvents the record pressing plant

The hype around the 21st-century vinyl revival is starting to sound like a broken record. Music sales revenues have plummeted for more than a decade, but every year since 2011, stories have cropped up about the 30, 50 or sometimes 80 per cent year-over-year growth in vinyl sales. The spectacular rebirth of the LP, however, has come with unexpected growing pains. New record-pressing machines haven’t been manufactured for decades, forcing new manufacturers to dredge Read more [...]
10 Comments Categories: Small Business

Meetings aren’t a waste of time if you know how to run them properly

I used to detest going to meetings. I considered them a massive waste of time, so I avoided them as much as possible. When I became self-employed, I kept this mindset of avoiding meetings. Over time, I saw a pattern emerge. I had become overwhelmed and lacked clarity in where I wanted to go with my work. To resolve this problem, I started to have meetings with myself. Once a week, I would have a simple 30-minute meeting going over different aspects of my business. Read more [...]
7 Comments Categories: Small Business

Vancouver’s BroadbandTV making major waves in online video world

Fast-growing, Vancouver-based BroadbandTV is emerging into one of the most dominant online video purveyors in the world. The 10-year-old company said Thursday it is now the largest “multiplatform network” in the world, boasting 319 million unique video viewers on desktop computers in December, according to comScore data, vaulting past previous leader Maker Studios Inc., a unit of Walt Disney Co. The company said viewership increased 219 per cent year over year, Read more [...]
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How startups can create a culture of inclusiveness

As a young female in a leadership position at a successful tech startup, who also happens to be visibly religious, I know a thing or two about representing minorities in the workplace. After years of hearing and reading about the lack of diversity in startups and personally encountering what seem like isolated incidents, I’ve noticed a very real pattern of exclusivity. Here are a few things I’ve learned during my career at several Toronto startups on building a workplace Read more [...]
4 Comments Categories: Small Business

Entrepreneurs: Give up trying to break into Toronto

I’m an advocate for growth and expansion, but I feel it’s time to address a common misbelief I hear from a lot of small businesses across Canada that are dreaming of going to Toronto, all for the purpose of trying to “get in.” If you ask these companies, they would tell you that is where the opportunity is to expand their business and that once they are in Toronto, they will get even more business because “that’s the way it works there.” None of this Read more [...]
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In photos: Ontario winery touts grape with a lowly reputation

Brothers' goal is to persuade restaurants to serve vidal   Brothers Greg and Yannick Wertsch are the owners of Between the Lines Winery, a six-year-old enterprise in Niagara-on-the-Lake, Ont., that produces and sells wines from a retail store in the family barn as well as through a wine club and in restaurants. One of their specialities is vidal grapes, the variety used most often in Ontario to make icewine. (Glenn Lowson For The Globe and Read more [...]
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Ontario brothers giving ‘cheap, garbage-y’ wine a makeover

Each week, we seek expert advice to help a small or medium-sized business overcome a key issue. Consumers can be a fickle lot – except when they’re hanging on stubbornly to long-held beliefs. This tendency has presented something of a challenge to Yannick and Greg Wertsch, brothers and owners of , a six-year-old enterprise in Niagara-on-the-Lake, Ont., that produces and sells wines from a retail store in the family barn as well as through a wine club and in restaurants. Read more [...]
4 Comments Categories: Small Business