You have been working hard and your small business is now making money….now what? You will probably want to be re-investing money into your business to help it grow - but remember - you also need to pay yourself!
In the romantic comedy classic “You’ve Got Mail”, Tom Hanks’ character owns a book selling superstore that puts Meg Ryan’s small bookshop out of business. In response he says “It wasn’t …personal” and implies it was just business. Meg Ryan’s character responds “All that means is it wasn’t personal to you. But it was personal to me…….Whatever else anything is, it ought to begin by being personal.”
Small business drives the Canadian economy. December 2012 Industry Canada statistics indicate there were 1.1 Million businesses in Canada. Seventy five percent of these businesses (830,000) had less than 10 employees. Eighty seven percent had less than 20 employees. Based on our experiences building our own businesses and observing and helping clients build theirs, we have outlined 5 keys to small business success.