It takes an idea and a lot of courage to enter the world of small business. Melissa Hyslop of Malarkey Kids, creator of the Munch Mitt, sits down with us to tell her story. She shares both the challenges and triumphs of being an entrepreneur, and what the future holds for her.
We're going to continue exploring the impending tsunami of family business wealth transfer in Canada, focusing this week's episode on starting the conversation surrounding transition and continuity.
Over the last few months, small business has been thrust into the spotlight. Many of the tax changes that are being proposed by the federal government will have a direct impact on how family businesses plan for the future, and the eventual transition of their business. Globally, we are on the cusp of the largest intergenerational wealth transfer that has ever taken place. Over the next 15 years, the Boomers are set to enter retirement. This event will have a tremendous impact on the scope of business, both financially as well as the emotional factors that will come into play.
This week's episode deals with the proposed changes to income tax that will directly affect small business in Canada. The Finance Minister unveiled these changes at a press conference on July 18, 2017. There is currently a 75 day review period in place where submissions can be made. At IWM, our focus is on helping business owners protect the wealth their business creates. We've invited experts from both the legal and accounting sector, and the Federal Director of the Canadian Taxpayers Federation to weigh in on how these changes will directly impact business and incorporated professionals.
A building's foundation is the insfrastructure, although possibly invisible to the eye, that determines how stable and steadfast it will be.
Different construction projects require their own unique foundation, specific to the structure constructed. Privately owned and operated businesses need their own unique underpinnings to keep the enterprise strong and viable for the long term. Join our conversation this week with a local constractor who explains the basis of foundations, and Phil compares the framework to a variety of businesses.
As businesses mature and succeed, decisions need to be made regarding the most effective way to grow the wealth that is accumulating in the corporation. This week Phil discusses the difference between active and passive business income, and how they are impacted by corporate and personal tax rates.
In this week's episode, Phil decides to run away and join the circus! Not entirely true, but any entrepreneur will tell you that running a business can often feel like an acrobat on a highwire. We'll explore the challenges that can cause you to lose your footing, and how to protect yourself if you fall.
Welcome to this edition of our podcast, where we’re going to talk about 6 questions to help you, as a business owner, select a financial advisory relationship.
So we can start with why, asking the question
Why is it so challenging to find a financial advisor that’s a fit for you, the owner operator of a small to medium enterprise?
Welcome to the introductory episode of our podcast series, "Getting a Round Tuit, Advanced Financial Planning for Business Owners". This podcast will focus on addressing the questions around planning that are common to entrepreneurs operating an owner managed business.