« Previous Entries

Most important accounting records for a small business in Canada

Saturday, November 30th, 2019

As a Canadian entrepreneur, you must keep accurate financial records of all activities for your company for six years. Along with your financial statements (balance sheet, income statement, and cash flow forecast), you’re required to keep records for all the individual accounts that make up those statements. What accounting records do I need to keep? […]

How to figure out your small business’ start-up costs

Saturday, November 23rd, 2019

The first type of cost you have to estimate are your start-up expenses, the one-time expenses you need to incur before you make your first sale. Start-up expenses are onetime capital (big money) expenses and monthly operating expenses. One-time capital costs might include purchase of initial inventory, purchase of equipment or furniture, improvements to your physical space, development of a website and deposits and fees.

Understanding cash flow in a small business

Saturday, June 8th, 2019

Why is it important to understand flows of cash as they move through your small business? Even if you don’t think you have a head for numbers, not keeping an eye on your cash needs is one of the quickest routes to business failure. Here are some key things for every small business owner to […]

What is the break-even point?

Saturday, May 4th, 2019

The break-even point is a critical number for every small business. Yet, many Canadian entrepreneurs don’t know the point at which sales will translate into profit. Let’s break down the break-even analysis and help you easily understand how it’s calculated. Why is break-even important? The break-even point is critical for entrepreneurs, because any money coming […]

What’s the most important entrepreneurship skill?

Saturday, April 27th, 2019

Our small business training was created after surveying 200 uber-successful Canadian entrepreneurs. These entrepreneurs were asked what business skills they believed made the difference between success and failure for them. Today, we’re sharing some of the most vital skills entrepreneurs need to know, and which ones GoForth entrepreneurs were surprised they didn’t know. Branding This […]

« Previous Entries