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BIT#1 Weekly News Round Up and What to know
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Preventing Your Business from Financial Uncertainty
With a lot of financial challenges across the globe, the economic conditions are very uncertain. According to the RBC survey, financial uncertainty has become a new norm for many Canadian citizens with the rise in inflation, bank rates, changing tax norms, etc.
The increasing cost of living is the primary concern for Canadians, as indicated by the poll. Approximately 77 percent of those surveyed express their inability to save as much as they desire, and nearly half of the respondents report experiencing the highest levels of financial stress they've ever encountered.
This can be a huge challenge for small businesses as they are susceptible to big changes, even a small macro change in the economy. Hence, financial planning is essential for such businesses. One way to be prepared for such uncertainties would be to hire a business coach or a certified CPA with vast knowledge of the Canadian market. You book us now and leave your Accounting to us for a better future.
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News Digest & Trends
Microsoft closes $69 bn acquisition of Activision Blizzard
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After a lengthy regulatory review and discussion, Microsoft has closed its largest purchase. It was put through a hefty regulatory review and has been approved by a US district judge. Activision is a gaming company that has created games like Call of Duty, Crash Bandicoot, Diablo, Overwatch and StarCraft. The Gaming industry seems to be more and more lucrative. Any wannabe entrepreneur looking to refine their gaming skills?
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Business Trends
In this section, we will talk about the latest trends and developments in the finance and business sector in Canada.
Canada might be facing peak inflation in the upcoming months amid low growth. What does this mean for you and your business. Have you made any plans/adjustments to your forecast. Long-term Canadian GDP growth is expected to stabilize at around 1.7% annually. Business investment is anticipated to surpass the long-term trend throughout the forecast horizon. As inflationary pressures subside in the medium term, the Bank of Canada is projected to have the opportunity to reduce its policy rate to a neutral rate of 2.25% by 2025.
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Business Blog Bytes
There are many entrepreneurs in Canada who have just started out in business or need some guidance while exploring the market. We regularly post updates on our website. You can check out these blogs for a better understanding:
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1. Starting a new business in Canada
This blog discusses the process of starting a business in Canada, providing a step-by-step guide for entrepreneurs. In this blog, you’ll learn about economic stability, low corporate tax rates, geographic advantage, skilled workforce, etc. We have also covered how to start your business in Canada in 12 simple steps including a registration process, market research tips and developing a business plan.
2. How to plan your business growth?
Every business has to grow to stay relevant and competitive but what growth means to one company can mean something completely different to another. Business growth is a stage where an organization experiences unprecedented and sustained increases in market reach and profit avenues. Read this blog and find out how can you take your business to success!
That’s all for this edition of our newsletter!
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BHTAX CPA
203-312 Commissioners Rd W, London Ontario, Canada
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