Category Archives: Regulations & Legal

All the details on how to ensure that you are following the government requirements, legal regulations, and overcoming ethical dilemmas.

Non-Disclosure Agreements And You!

A cartoon man and woman hold up a sign that says "Non-Disclosure Agreement!"

Using Non-Disclosure Agreements (NDA) is a smart move for any small business owner. As you run your business, you’ll work with a variety of people in a variety of contexts, and you may have to share confidential information with them.  You’ll want assurance that the other party won’t share that information with anyone else.  Situations where this concern arises include ones where:

  1. Your employees have access to company secrets, intellectual property, future strategic plans, customer pricing, and many other pieces of information that you don’t wish to have shared.
  2. You’ve shared financial information and future plans with business partners or investors.
  3. You’ve given an accounting firm your financial information, including the debt and equity information, so that they can do your taxes.
  4. You’ve shared information with suppliers on pricing or marketing tactics to be a good strategic partner.
  5. Anyone else with whom you share information with that you want to keep from public knowledge. 

Consider using non-disclosure agreements any time you’re sharing confidential information, especially if keeping that information secret is crucial to your success – if your baking tastes better because you use an ingredient that no one else does, or your product lasts longer because you use a manufacturing technique that no one else has thought of, you don’t want that secret getting out so that other people can also start benefiting from what makes you superior in your market! 

Learn More About Non-Disclosure Agreements and Download a Template 

Thanks to Cobalt Lawyers  and ClauseHound. The information provided may not be relevant to your jurisdiction, this information is not a substitute for obtaining legal counsel, nor does it create a lawyer-client relationship with you, the reader.

Have you checked out our webinars yet? Head to our webinar channel and check them out! Tell us which one you like the best!

Succession Planning for Small Business

Succession planning is all about planning your exit strategy and maximizing the value that the small business owner receives for their effort (which often amounts to years and decades of work).

It also protects the small business owner, family, and the business from any risk.

Learn the process and your options in 20 minutes!

Contact the Expert
Mike Hook
[email protected]

Writing a Small Business Contract

Small business owners need to know how to protect themselves. A contract is not designed for when the two parties agree, but for any potential time when they don’t agree. That is the key!

In this 25 minute video we focus on sales and vendor contracts, but contract best practices in general. What are some of the clauses and what should be paid attention to? The specific clauses that we walk through are;

1. Parties of a contract
2. Description of the product or scope of services
3. Fees and charges
4. Tax responsibility
5. Rejection or acceptance of the product
6. Warranty period and exclusions
7. Payment terms, due date, interest rates
8. Customer promises
9. Vendor promises
10. Limitation of liability
11. Indemnities
12. Dispute resolution mechanism

Contact the Expert

If you have more questions and need more specifics, please contact Rajah Lehal directly!
[email protected]

Crowdfunding in Canada

Crowdfunding is one of the new up and coming ways to finance your business. If we look at the international market place, there is $3-5 billion dollars that has been raised in crowdfunding efforts.
 
This is through over 300 portals internationally with 45 of them available to Canadians. Traditionally crowdfunding works by donation or reward.
 
The latest and greatest is that crowdfunding will soon be available in Canada to raise equity. This is going to make raising equity less expensive to do and easier to do.
 
Now is the time to prepare your business for this new opportunity. Learn how in this 20 minute video.
 

 
Contact the Expert
 
Mike Hook
e:  [email protected]
www.intrepidlaw.ca
@MikeHookLaw
 
 

Small Business 101: Making Your Dream a Reality

Starting up your own business is not as hard as you think.
 
This video walks through the critical logistical steps you need to be taking to get started.
 
1. How to select and check your business name?
2. Business location
3. Sole proprietorship vs. corporation
4. Registering for HST, Payroll, WSIB
5. Protecting your intellectual property
6. Taking your business online
7. Get Started!
 

 
Contact the Expert
 
www.bdc-canada.com
 
 

What’s Your Business Worth?

Business valuation is critical for all small business owners as there is a high probability that you will be needing to evaluate how much your business is worth due to needing a loan, going through a divorce, or selling your business either voluntarily or involuntarily.

 

When it comes down to it, the value of your business is the price that someone is actually willing to pay you for it. But if you are trying to put a dollar value on your business without this step or before this step, there are some things to consider;

 

1. Net tangible assets
2. Identifiable intangibles
3. Goodwill (transitioned and non transitioned)
4. Redundant assets

 

If you are selling your business, there are some great ways to increase the value of your small business. And there are some specific value drivers to be aware of.

 

If you are buying a business, there are some specific details you should be looking for and specific circumstances where you may buy a small business for a lesser amount.

 

Watch this video for all of the details.

 

 

Contact The Expert

 

Fabyelle Chevalier, CPA, CA
Manager – Financial Advisory Services
BDO Canada LLP
Direct: 705 726 6331 ext. 8523
[email protected]

 

Like the Presentation? Valuation Presentation

The HST Lowdown

Taxation is a tricky world for most entrepreneurs. How to get started? What tax should you be charging? How does this change by province or country? How and when to remit taxes? What types of rebates are available?

Taxation can be a scary topic, but it is inevitable. So it is better to understand what is required upfront.

What will you learn in this video?
– When to register for HST
– How to do it
– Methods of filing
– Filing periods
– The process of filing and how to do it
– A list of issues that you may encounter and tactics to overcome them

Additional Links

How To Register
Business Registration Online (BRO): http://www.cra-arc.gc.ca/tx/bsnss/tpcs/bn-ne/bro-ide/
Phone CRA Business Line: 1-800-959-5525

Other Resources

Goods and services tax/harmonized sales tax (GST/HST): http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/menu-eng.html

Business Registration Online (BRO): http://www.cra-arc.gc.ca/tx/bsnss/tpcs/bn-ne/bro-ide/

RC4022    General Information for GST/HST Registrants: http://www.cra-arc.gc.ca/E/pub/gp/rc4022/rc4022-e.html

My Business Account: http://www.cra-arc.gc.ca/mybusinessaccount

 

Expert Contact Information

Ross A. Libbey, CPA, CA
Off: 905-436-6663
Email: [email protected]

Top 7 Legal Concerns of a Small Business

Find out from Denise Robertson, from Mills and Mills LLP, what the top legal concerns are and how to prioritize your legal dollars to protect yourself from the most amount of risk. Tons of details and lots to think about all wrapped up in 30 minutes.

 

What to expect?

Find out what the top 7 legal concerns are
Discover tons of little details to be aware of

 

What are the top 7 legal concerns?

#1 – Business Structures
#2 – Working with Others
#3 – Contracts and Written Agreements
#4 – Protection of Intellectual Property
#5 – Premises
#6 – General Liability
#7 – Estate Planning

 

Find out more in the video!

 

 

Contact our subject matter expert at:
Denise Robertson
[email protected]

Small Business Tax Preparation

2012 is over and now it is time to wrap up your year end.  It is better to get this done sooner rather than later, but it is always so easy to procrastinate.

Spend 40 minutes on some best practices to wrap up last year quickly, and set yourself up for success in 2013.

Presented by BDO Accounting in Barrie, Ontario (contact information below video).

 

 

Tim Taylor, CPA, CA, MBA, CFP

Partner, BDO Canada LLP

[email protected]

705-726-6331

 

Marc Graham, CGA

Senior Manager, BDO Canada LLP

[email protected]

705-726-6331

 

Small Business Accounting, Bookkeeping, & Financial Basics That Save Money (CANADA)

Keeping up with your taxes and bookkeeping can feel like a full-time job. Especially in the first few years when the learning curve is steep on what to do and what you shouldn’t do in regards to your paperwork.

Jeff Dessau, a Chartered Accountant with over 25 years experience in Canada, goes through what is critical to saving money as an entrepreneur.

 

Want to learn more?  Contact the subject matter expert;

 

Jeff Dessau

[email protected]