Free Webinar: Fraud, Cyber Security and the Cloud: What your business needs to know

To celebrate Fraud Awareness Month 2017, CFIB has teamed up with Microsoft Canada to bring CFIB members and guests a free webinar. In this webinar, hosted by David Ludiciani, Product Marketing Manager, Microsoft Canada, we will explore 3 areas of cyber security: 

Part 1: Security Check-Up You hear more every day about cyber hacks and cyber attacks. But what are they, and what risk does your company face? To start off, we’ll show you why you need to think about security regardless of the size of your business.

Part 2: Demystifying Common Threats From phishing to malware, we’ll cover a variety of threats and the changing environment of cyber attacks. The threat landscape today is complex and creative, and the more knowledgeable you are, the better you can protect your most important assets.

Part 3: How the Cloud can Help Secure Small Business Adopting cloud software can transform how you do business, but it also carries more complexity and risk. In order to adapt to changing technology, start your transformation by thinking about security.

Join us for this free 30 minute presentation followed with a 15 minute Q&A session.

Space is limited so register today for your preferred date by clicking a link below.

Fraud, Cyber Security and the Cloud, what your business needs to know
March 14, 2017 @ 1pm EST

Fraud, Cyber Security and the Cloud, what your business needs to know
March 16, 2017 @ 1pm EST


Crossing the Digital Divide: How Policy Makers Can Help Entrepreneurs Grow Online

Last Friday, I posed the question, are Gen X entrepreneurs missing the mark on social media? The stats I presented, based on CFIB’s latest research, Embracing technology in a digital age, appear to show that there certainly is a digital divide. Age of business, however is not the only factor. Larger rather than smaller firms seem to more eagerly embrace technologies that they believe will keep them competitive and agile.

Believe it or not, according to CFIB research, 34% of small business owners are still not using any kind of social media at all, and only 48% of those whose business has been running for 10 years or more view the ubiquitous technology as important to their operations.

While this might seem like a Gen Xer’s stubborn refusal to more fully engage with the digital world, there are some practical reasons for this apprehension. According to the survey, more established small businesses simply can’t prioritize social media on account of it being too time-consuming, too costly and too difficult to keep up with and fully understand.

With that in mind, here are a few ideas the Canadian Federation of Independent Business recommends policy makers think about implementing to help these older firms connect with the next generation of entrepreneurs:

  1. Make it easier to adopt digital technologies by encouraging the development of simple, cost effective, “off-the-shelf” digital tools for small businesses: CFIB already offers its members such services for web development (Bark Builder) and email marketing (CyberImpact) at discounted prices.
  2. Introduce a “Digital Technology Deduction”: Allow claims up to $100,000 per year spent on new equipment or technology, in the year of purchase.
  3. Reintroduce a 100 per cent Capital Cost Allowance (CCA) rate for technology purchases: This would spur new investments in new digital technologies and help drive innovation.
  4. Improve competitive options for high speed/wireless services: Require incumbents to provide competitors with wholesale access to Ethernet lines at fair prices, or allow foreign providers to access rural markets.
  5. Create an “innovations lens”: When implementing new regulations, policies and taxes, ensure these do not negatively impact a firm’s ability to innovate or adopt new technologies.
  6. Consider creating a website of digital tools to enhance digital literacy: Government could take the lead on creating a website that contains a database of tech guides and tools to develop digital skills that would help SMEs deal with daunting technology tasks quickly and easily.

By carrying through on some or all of these ideas, the government can help a generation of business owners who didn’t grow up with a smartphone in their hands, but are still a vibrant part of the entrepreneurial community, overcome their concerns and begin to see the massive benefits derived from creating an effective and indelible presence on social media.

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john-cropped

John Studd

With over 15 years of experience in communications, John has spent most of his career in Europe and Asia working with a long list of clients on a large number of projects. He particularly likes working on behalf of small- and medium-sized enterprises in his present role as Media Writer for the Canadian Federation Independent Business (CFIB). He’s also been a small business person himself, establishing a rather successful translation company in Prague that in its heyday employed three teams of translators.


Enterprise Toronto – 2017 Small Business Money Forum

enterprisetoronto-logoLooking for ways to fund your business? Want to understand how to get access to credit? Interested in understanding market conditions so that you can build your customer base? Join TD and the City of Toronto for a full-day session focused on helping small and medium-sized businesses get connected to financial resources to help them grow and succeed.

There are three great keynotes, including:

  • What I’ve learned from Bootstrapping over 18 Years: 3 Key Points – Sol Orwell, Examine.com
  • Canada’s #1 Crowdfunding Campaign of All Time! – Dan Blumer, CEO, Revol Technologies
  • These Aren’t My Pants – Ilana Ben-Ari, CEO, Twenty One Toys

Plus a range of tactical breakout sessions and a funding marketplace.

Event Details:

Date:               Tuesday March 7, 2017
Time:               9:30 a.m. to 3:30 pm
Location:        Toronto City Hall, 100 Queen St. W. 3rd Floor, Council Chambers
Cost:                Early Bird: $15 Regular Tickets: $25

Get 50% off registration – https://goo.gl/bwhuVn

 


The importance of small business accounting advice

We are now on our fifth edition of the multi-part series on the topic of tasks you should be adding to your “start up to do list”. In past weeks we have discussed starting your small business checklistorganizing your startup, are you sure you need to hire now?, and when do you need a lawyer?

Thank you for joining us on today’s topic: Accounting advice.

I’ve had a few experiences with a number of entrepreneurs that have trustingly replaced their accountants with a “manage yourself” software. While we will not discourage you from exploring this option, always remember that the live assistance of an expert can go a long way.

In the past, common concerns or complaints with software was related to upgrades, updates and even customer support. I have heard from a variety of entrepreneurs with questions such as: does the software calculate public holidays, does it identify when a holiday is coming up?  Does this software automatically update when there are changes in taxes or source deductions? And how can I manually change the percentage of tax?

Accounting advice helps you with:

  • Learning which business entity is best for you
  • How to get paid from your own business
  • Filing your taxes; with correct documentation and on time
  • Understanding what is considered a business expense
  • A Revenue Canada Audit

Understanding the health of your business is primarily your responsibility, the entrepreneur. Not to mention that the Canada Revenue Agency also holds you responsible for collecting and remitting GST/HST and payroll taxes. So it is in your best interest to understand how to do this properly, also to know what factors impact the growth of your business. A bonus is hiring an accountant that is familiar with your particular industry.

Our business resource department is here to help you navigate the complexities of running your business, however, we recognize that professional accounting advice is crucial for the survival of your business. The assistance of an accountant is very important especially because you wish to start your business on right track.

Our members are able to contact their regional CFIB business counselor when they may not be sure if it is an accounting question. Rest assured, if we can help we will by providing you information, research or support.

So to set you on the right track, here is your weekly checklist. Remember to share your checklist with your social media entrepreneur community by using: #MyStartUp and #SmallBizChecklist

☐ Do you need to register for GST or HST? Click here for explanation.
☐ Have you hired an accountant to help you through the taxes of running a small business?
Check if there is someone local that can help: Shop Small Biz – your local business directory.
☐ Have you considered which banking service you will require? Also read our “How to get a better deal at bank
☐ Considering grants and financing?
☐ Considering using some of your revenue as donations?

If you have been in business less than two years, you qualify to sign up as a member through our My StartUp portal. If you have been in business for more than two years, please click here to obtain further information from our CFIB website on how you sign up today!

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CesarCesar Gomez-Garcia has been with the Canadian Federation of Independent Business for six years. His current role at the CFIB is helping members with their questions on compliance. These questions can range from employment standards to health and safety, as well as complicated red tape situations that small businesses face. His passion is reading and writing about entrepreneurship. Learn more about Cesar via LinkedIn and follow him on Twitter @josuegomezg.


Entrepreneurs: Are your personal shopping habits spilling into your business?

I recently moved to another neighbourhood. As excited as I was about the move, the daunting task of packing put a damper on my good spirits. In what only proved to elevate the mood kill, I realized something alarming. I have a serious candle problem.

After going from room to room collecting an armload or two of various wax balls, pillars and jars, I placed them on the coffee table next to a stack of packing paper and an empty box. Once I had all of my candles on the table, I counted them out slowly, slightly alarmed at the growing collection. Hmm, twenty candles, that’s not too bad, right? Then I realized I’d only gathered all the candles from the first floor.

We all have our little quirks when it comes to collections, be it candles, refrigerator magnets, or, in the case of my husband, tacky shot glasses. But what happens when our impulse or slightly obsessive purchases spill over into our business?

As a college student, I worked at the book store on campus. Our manager/buyer had a slight obsession with writing instruments, especially pens. We had a huge double-sided, multi level shelf that ran the length of the first section of the book store parallel to the checkouts, shaping the line for our customers during busy periods. One side of this shelf was filled to overflowing with highlighters, mechanical pencils, every other type of pencil you can imagine, as well as those plastic encased eraser sticks. The other side of the shelf? Yep, you guessed it. Pens. A wall of every kind of pen you could possibly think of.

Obviously, demand did not keep up with supply. Each week, staff would go through boxes of pens and highlighters, checking to see if the ink had run dry. I could spend an hour or more scribbling on scrap paper, tossing useless pens into a cardboard box. And as our manager continued to bring in new shipments, we would look for older to pens to discount, always at less than cost. The discounted products would be thrown haphazardly into bins at the front of the store, as close to the entrance as possible. Not only was this a huge waste of money in terms of dollars spent on merchandise and man hours, but also in terms of opportunity lost.

Imagine how much the book store could’ve earned if the shelf had been lined with a variety of merchandise that would contribute to the impulse purchase decisions while people were bored in line. And those same old bargain bins filled with the same old stuff every time a customer walked in? I always wondered why we wouldn’t place newer stock that would entice students to come in to the book store when they weren’t in the need for a new text book.

The manager of the book store was not bad at her job. Other areas were organized and profitable, and she ran a tight ship. She simply let her personal shopping preferences cloud her judgment in this particular instance. As entrepreneurs, we’re definitely not immune to allowing our personal habits spill into our business habits. But it’s important to recognize when it is happening and what the implications might be.

So this week, why not look for clues or signs that this might be happening to you: Is your office overloaded with company branded thumb tacks or other quirky merchandise that never seems to make it into the hands of your customers? Are your business cards made out of stainless steel even though metal has no connection to what you actually do? Do you only have one employee, perhaps a summer intern, who you welcome with a basket full of company branded merchandise? If so, it’s possible that you’re letting your love of style and/or your logo creep into your marketing budget.

And if your back room is filled with spiffy new binders even though your business is pretty much paperless or you spent your entire lighting budget on a chandelier, you may be letting your personal preferences get in the way of making money.

Once you’ve recognized a problem area, do the math. Add up how much have you spent in terms of dollars and man hours. Determine how you could have spent that money to help your business grow. Just don’t beat yourself up about it. You might not be able to recoup your cost but you’ve learned a valuable lesson and you’ve already figured out how to tighten up your budget. Congrats!

Did you know that CFIB members and CFIB’s My Startup program members can call professional business counsellors as often as they like for free business advice? This is just one of the benefits to joining our non-profit business association! Learn more about joining CFIB’s community of 109,000 independent business owners today.

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darciaDarcia Armstrong is a marketing communications professional with an entrepreneurial spirit. With over a decade’s worth of progressive experience managing marketing initiatives for startups and seasoned business owners, Darcia focuses on promoting the interests of small business. She loves serving small- and medium-sized enterprises in her role as Digital Marketing Manager for the Canadian Federation Independent Business (CFIB) and CFIB’s My Startup Program.

CFIB is a non-profit organization that supports, promotes and advocates on behalf of Canada’s entrepreneurial landscape. With over 109,000 members across Canada from every sector of the economy, CFIB offers access to powerful advocacy, sound business advice and assistance, and major savings and benefits.

 


Are Gen X entrepreneurs missing the mark on social media?

We hear a lot about the generational divide when it comes to digital technologies. As it turns out, this digital divide is not just a feature of individual relationships anymore. The same gap can be seen in how young and old businesses relate to the public, and each other.

Like my millennial nieces and nephews rolling their eyes at their Gen-X uncle’s stubborn ignorance of the intricacies of Tinder dating, younger businesses are far more digitally-savvy than their older counterparts as well.

Whereas I’m a proud denizen of Gen-X slackerdom prone to dismissing earnest new applications ironically (yet still ready to adopt them if convenient), the younger members of my family see nothing strange in marketing themselves in multiple ways on various platforms, collecting ‘likes’ and mutual swipes as obsessively as I used to collect vinyl records. And while I am aware that there are a few hipsters out there who might be interested in my dusty old LP collection, I think it’s fair to say that my nieces and nephews could have found a market for those old albums long ago.

Young business, like those young men and women in my family, seem to have the edge when it comes to fully embracing digital technologies. But don’t take my word for it! This is but one of the take-aways from a new survey put out by the Canadian Federation of Independent Business (CFIB) that’s sure to light a spark in the minds of Canada’s budding young entrepreneurs.

According to the survey, Embracing technology in a digital age, businesses less than 5 years old are more likely to think of social media as integral to their start-up, with 72% thinking of it as an important part of their business model from the get go, whereas only 48% of firms that have been around for 10 years or more feel the same.

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This could partially be explained by the fact that younger firms are extremely focused on marketing their business and are more familiar with social media tools and their benefits, whereas older businesses may be more established and already have a strong client base, and therefore do not feel the need to publicize their activities quite as much.

Like the common refrain that the youth of today spend far too much time, money and mental energy on their phones checking Facebook, Twitter and the like, some of the barriers to digital adoption, according to older firms, is that they find these digital tools too time-consuming, too costly and (surprise, surprise – for us ‘old timers’ anyway) too difficult to understand.

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Millennials view technology as a critical part of their life and work. They are constantly “on,” and connected. They tend to embrace new technologies for socializing and working, and adapt quickly. By contrast, Gen X’ers mainly use technology for purposes of convenience, such as online banking and shopping. This same disconnect regarding the purpose and use of new technologies can be applied to younger and older firms respectively.

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Not all differences can be chalked up to age though. One interesting item from the survey that goes beyond that particular divide is the type of social networking sites certain businesses use. Businesses that deal directly with consumers, such as retailers and those in hospitality or recreation, are much more likely to be using Facebook, Twitter and Instagram. Alternatively, businesses that primarily deal with other businesses, such as those in finance, insurance and professional services, are much more likely to use LinkedIn.

figure4

Size matters too. Larger companies of 50 employees or more make use of social media platforms like Twitter more than smaller businesses with less than five employees (see chart). This may be due to the fact that larger businesses have the capacity to hire younger, more linked in social media experts, if needed, to set up and manage these accounts compared to a smaller business that may find it difficult to access such resources and therefore may choose to focus on just one social media platform if they choose to engage in social media at all.

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As the study reveals, 34% of respondents are not using social media at all, and while this figure has been trending downward for many years now, it shows that there’s still more that can be done to assist older, smaller firms in adopting the technologies that will keep them competitive, agile and safe from the collective eye-rolls of the younger crowd.

Join us Friday when we outline some of actions CFIB recommends policy makers take to help older, smaller firms connect with the next generation of entrepreneurs, such as providing simple, cost-effective, “off-the-shelf” digital tools for small business, creating a website of such tools to enhance digital literacy and introducing a “digital technology deduction” so a business can write-off their investment in the year of purchase.

____________________________

john-cropped

John Studd

With over 15 years of experience in communications, John has spent most of his career in Europe and Asia working with a long list of clients on a large number of projects. He particularly likes working on behalf of small- and medium-sized enterprises in his present role as Media Writer for the Canadian Federation Independent Business (CFIB). He’s also been a small business person himself, establishing a rather successful translation company in Prague that in its heyday employed three teams of translators.

 


CFIB members can now enjoy Mastercard’s BIG BUSINESS rates!

I am very proud to announce an agreement directly with Mastercard to allow CFIB members to benefit from special rates previously reserved for individual merchants with over $3 billion in transactions. This goes into effect starting April 3rd, 2017. This deal represents a 12.5% savings from Mastercard’s base “electronic” rate, and as much as 22% savings on some premium cards.  The result will be millions in collective savings exclusively for CFIB members, helping your bottom line.

If you are a CFIB member already on our plan with Chase Paymentech, the rate reduction will be automatic. If not, click on our CFIB Mastercard page to learn more, including how to access this important new benefit. Also, please let your fellow small and medium-sized business owners know that they can get these great rates too if they become a member of CFIB.  They can inquire about membership at cfib.ca/join or, if they have been in business for two years or less, they can check out CFIB’s My Startup program for new businesses.

After years of member action, research and media attention on the high cost of credit card fees, CFIB members have achieved many important victories. But we’ve never stopped in our advocacy for additional reductions. This is another great example of what can happen when thousands of independent business owners stand together.

Congratulations!

Dan Kelly, CFIB President

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Business to Business (B2B) Contracts – When do you need a lawyer?

Welcome to the fourth edition of the multi-part series on the topic of tasks you should be adding to your “start up to do list”. In past weeks we have discussed starting your small business checklistorganizing your startup, Are you sure you need to hire now?, and now our latest edition: Do you need a lawyer.

Every entrepreneur understands intrinsically – or learns very quickly – that a business is not an island. That is to say, a business cannot exist without interactions with outside parties in some form or another.

For example, a major part of running your business is receiving products/services from other businesses that will help in your daily operations. These interactions shouldn’t be taken lightly or handled in an informal manner.

While CFIB business counsellors do not offer legal advice, we are able to help set the stage for entering into what could be considered legal contracts. In fact, we previously published an article, Signing contracts and leases: how to avoid liability, here are some highlights:

A contract is a legal document; be sure you understand what you are signing, as it could be very costly to get out of and may even involve litigation.

  • Do not accept any verbal changes.  Make sure all changes are written into the contract.
  • If you are not sure what your obligations are, get a lawyer to review the contract and advise you of any concerns.
  • Check the contract for automatic renewal dates and be aware if you have to provide notice of cancellation.  Some contracts require up to a year’s notice, in writing, should you wish to cancel.
  •  Look for clauses that allow increases in pricing without written notice.
  •  Check the term of the contract and make sure there is an option to cancel without penalty.
  • Report any unscrupulous practices to the Competition Bureau at 1 800-348-5358 or online.

Do not feel pressured to sign on the dotted line on the spot. Take all precautions and due diligence to review and consult with your legal advisors, especially when you have to provide your banking or credit card information.

Our Business Counsellors hear of countless situations that could have been avoided if the above recommendations were followed. Remember, any business that presents a great deal should also provide you sufficient time for you to review agreements.

Your checklist of the week should also include the following very important topics:

☐ Be aware of the legal issues for small business
Seek legal advice to ensure you select the right business entity
☐ Do you know enough about Trademarks and Patents?
☐ Keep informed of possible fraud attacks to your business
☐ Tips for leasing commercial property

More often than not, we get excited to start our business venture and simply hope for the best. We want you to have the best.

When in doubt, contact a CFIB small business Business Counsellors. We can offer specific advice and even let you know if and when legal counsel is required.

If you have been in business less than two years, you qualify to sign up as a member through our MyStartUp.ca portal. If you have been in business for more than two years, please click here to obtain further information from our CFIB website on how you sign up today!

Share our blog with your entrepreneurial community using: #MyStartUp #SmallBizChecklist

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CesarCesar Gomez-Garcia has been with the Canadian Federation of Independent Business for six years. His current role at the CFIB is helping members with their questions on compliance. These questions can range from employment standards to health and safety, as well as complicated red tape situations that small businesses face. His passion is reading and writing about entrepreneurship. Learn more about Cesar via LinkedIn and follow him on Twitter @josuegomezg.


Tips and tools to help manage your family business

Family Day is being observed this year on February 20, 2017 (February 13, 2017 for British Columbia). In honor of the countless family owned businesses across Canada, we wanted to provide our My Startup family with few tools to get your family business off the ground.

It is good business practice to create a code of conduct to ensure that everyone understands the expected behavior towards each other and customers.

A Code of Conduct is set of rules/norms that are established for family members/employees to comply with. It is expected that everyone would have a full commitment to conduct business in a professional and respectable manner and strive to create a trust-worthy authentic environment.

A Code of Conduct will support the dos/don’ts on how your company culture will unfold the business vision, mission and objectives. The Code of Culture speaks to:

  • Commitment and expectations of those considered to be managers
  • Commitment and expectations of employee behaviors
  • What is considered to be respectable and professional behavior
  • What unethical behaviors are not tolerated
  • Company Policies and Procedures

Family being the closest to us by relationship, setting professional boundaries can ensure that your communication is both respectable and effective, documentation is effective and avoids confusion.

Setting the right company culture from the start is a win-win situation for all individuals working at your business. Regardless of your size of business, it is a tool that sets the level of excellence you are expecting from all your staff.

As a CFIB member and a CFIB My Startup member, you have access to a Code of Conduct template by using your membership ID and password here.

Have you considered structuring your team using the RACI method?

Recently, in completing my Business Analysis program, I became familiar with a business tool I believe can help small business. It’s called the RACI matrix and it is a method to understand the different roles in a team and to ensure everyone is aware of their own responsibilities. Understanding the roles given to each individual will reduce any risk of incomplete work.

RACI is an acronym for Responsible, Accountable, Consulted and Informed. In your next meeting with your family members, consider categorizing your family in the following categories and decide who is:

  • Responsible: Individual tasked to complete a task.
  • Accountable: One who ensures tasks are completed.
  • Consulted: A subject matter expert that is called for advice.
  • Informed: An individual that requires continual updates on progress.

While this matrix is a tool often used for projects and has elaborate methodology, having these assigned roles will maximize your chances at starting a successful venture.

Often times when you’re starting a family business, “the all hands on deck” approach may get confusing and that can lead to a loss of time, resources and duplicate work in some cases – even worse no work gets accomplished as no real accountability can be measured.

Each individual assigned to your business, needs to have clear, consistent, and achievable tasks.

Do you have a clear direction for your business?

After you have developed your team, consider the following: using the GRPI method to further understand if your team has all the necessary tools to complete the tasks you need for your business operations.

GRPI is an acronym for Goals, Roles, Processes, and Interpersonal and it’s used to assess the effectiveness of your team.

Goals: Have all goals been communicated clearly.
Roles: Using the RACI method, do you have clear roles assigned.
Interpersonal: How the team communicates with one another, especially with respect and trust.

The above factors are straight forward. For this reason let’s take some time to provide further details on Processes.

Processes: What are the steps that need to be taken to complete tasks, projects, etc.

Your business requires constant goals and tasks, and accomplishing each to keep the business alive. A process can take shape in many different forms and can be communicated in the following methods:

  • Establishing a channel of communication (Email, Skype, Phone etc.)
  • Specific time for meetings (daily, weekly etc.)
  • Creating a procedure manual that has clear instructions
  • Identifying what resources are available for all staff
  • Everyone should be encouraged to provide feedback on improving any of the above

Just like the RACI methodology, the GRPI has further layers that can be researched online to help you with your startup.

These tools are used for projects, however your startup can be seen as a project – as you plan, review, and monitor and execute your plans for your product/services.

Do you have a specific tool/methodology that has helped your business? Tweet us at #MyStartUp

Remember, as a CFIB or My Startup member you have access to our EI Family blog, number of webinars to help you manage your startup and access to our Business Counsellors.

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CesarCesar Gomez-Garcia has been with the Canadian Federation of Independent Business for six years. His current role at the CFIB is helping members with their questions on compliance. These questions can range from employment standards to health and safety, as well as complicated red tape situations that small businesses face. His passion is reading and writing about entrepreneurship. Learn more about Cesar via LinkedIn and follow him on Twitter @josuegomezg.


Are you sure you need to hire now?

Welcome to the third edition of a multi-part series on the topic of tasks you should be adding to your “start up to do list”. In past weeks we have discussed starting your small business checklist and organizing your startup. Let’s continue with the next part “Are you sure you need to hire now?”.

You may be at that stage you need to hire employee, are you ready?

I came across a business owner within my network that wanted to hire an employee as an assistant, because they felt that was the right and reasonable step. Unfortunately, hiring your first employee may not be the walk in the park that you’re hoping for.

Word to the wise: You must truly understand your business situation if you are at a stage that you need and can afford to hire an employee. Employees are not hired when you are more than capable of handling the work load on your own. Employees are hired when you need support the handling of multiple tasks and can benefit the business in providing someone experience, upgrade skills and empower the employee’s career.

Often times, we may believe that hiring employee is a sign of growth, however there are major responsibilities that come along with this stage in business. Especially understanding that you, the employer, are providing wages that in turn will be used for mortgage/rent, family care, and/or savings for employee’s future. Be conscious that it is your time to hire.

Here are few heads up:

  • When your employee earns wages, you must pay your employee consistently on a pay period you have selected. Failure to pay or in consistent manner can result in claims under your provincial Ministry of Labour.
  • More than just wages, you the employer must be prepared to compensate employees for vacation pay, public holiday pay and/or termination according to your provincial obligations.
  • You must submit sources deductions (Employment Insurance, Income Tax and Canadian Pension Plan) to the Canada Revenue Agency, regardless if your business has made a profit – no delays or excuses.

Having documentation is must:

Having proper documentation is crucial when dealing with employees. Job Descriptions are particularly important as they set the expected performance, the standard or level of satisfaction of a job, and contain clear instructions.

Often time, I hear from small business owners that they do not think they need a job description for two reasons;

  1. They are too small.
  2. All employees do the same job.

That may be the case, however you can’t expect a specific outcome or behavior if it has not been properly documented and explained to employee.

A moment to reflect:

Make a proper assessment of your situation, ask yourself:

  • Am I in a position to handle my work load on my own?
  • Do I have sufficient knowledge of the ministries that protect employees?
  • Do I have sufficient resources to provide necessary training?
  • Can I trust that someone else will have access to my place of business?
  • Do I have enough cash flow to justify hiring employee?

We have created the following checklist to ensure you are on the right track.

This week’s topic is: hiring employees

☐ Have you registered your payroll account through the Canada Revenue Agency?
☐ Have you learned rules, regulations and considerations when hiring employee?
☐ Do you need a job description? Click here.
☐ Do you need to create an internal employment manual?
☐ Do you have a business counsellor?

Remember, my entrepreneur friend, you are not alone. Become a member today by signing up at MyStartUp.ca and speak to your regional business counsellor for further information, insight and direction.

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CesarCesar Gomez-Garcia has been with the Canadian Federation of Independent Business for six years. His current role at the CFIB is helping members with their questions on compliance. These questions can range from employment standards to health and safety, as well as complicated red tape situations that small businesses face. His passion is reading and writing about entrepreneurship. Learn more about Cesar via LinkedIn and follow him on Twitter @josuegomezg.