Small Business Advice. October is “Small Business Month” in Canada. The focus on small business is sponsored and organized by the Business Development Bank of Canada (BDC), with events bringing together entrepreneurs (and those who want to be) at conferences, workshops, luncheons and trade fairs.
Small and medium-sized businesses are the cornerstone of the Canadian economy. They account for 99.9% of all Canadian companies and employ close to 90% of private sector workers. The BDC believes
this contribution deserves to be celebrated. They also believe entrepreneurs need support in building successful, innovative businesses.
For 36 years, the Business Development Bank of Canada has organized “BDC Small Business Week,” during this special month, in recognition of the contributions and achievements of Canada’s entrepreneurs. This year, “BDC Small Business Week” takes place October 18 to 24 under the theme: KNOCK DOWN BARRIERS. DARE TO GROW.
Daring to grow is never an easy task. Inevitably, there are barriers that need to be knocked down as entrepreneurs navigate the path to success. Confronting challenges is essential if they want to play in today’s competitive global environment. It is not only about having the will, but also about having the tools and resources to do so, both financial and non-financial.
The BDC operates under a mission to help businesses grow and succeed through flexible financing, business consulting and venture capital. They focus on small and medium-sized enterprises and provides
many articles on their site, www.BDC.ca, such as the one printed here.
At Biz X magazine we always want to provide content to help you succeed in business too! We hope the
following article below gives you some good business advice on managing your finances.
How To Improve Your Cash Flow Management
Cash flow management can be one of the most complex challenges facing a business owner.
That’s because it takes place on several levels at once – everything from accounts receivable and payable to inventory and expense control, to even bigger questions about your business model.
“Good cash flow management starts with making financial projections and then closely monitoring your actual financial results,” says Sophie Gauthier, Director, Business Restructuring Unit at the Business
Development Bank of Canada (BDC).