Top 3 reasons start-ups fail and how to avoid them

The start of a business is an exciting time. You’ve got a great idea for a business and are enthusiastic to get started. It’s important to plan ahead to give your business the best chances for success. Planning ahead means anticipating challenges and developing ways to successfully address them, so they don’t upend your start-up. Here are three reasons why start-ups fail and ways you can avoid them Lack of…  Read more

4 Ways Small Start-ups Can Take On Established Competitors

Starting a business means you’ll be in competition with other companies that already exist. It’s actually a good thing if you have competition to go up against. Competition pushes you to be innovative. It also means there’s an established market for your goods or services. The key to benefitting from competition is knowing how to effectively take on competitors so your company earns a profit. Here are some ways to…  Read more

COVID-19 UPDATE – JANUARY 2022

Due to the Omicron variant, effective January 2022, our office is closed to the public, and all client meetings will be conducted over the phone or through Zoom. The situation will be re-evaluated in February 2022. Tax documents can be emailed to tax@accountantsonmain.ca, or can be dropped off in a bin in the front foyer of the office. In this time of uncertainty, the safety and well-being of our clients,…  Read more

5 Ways to Recover After a Financial Setback

You started your business with plans of earning a living and being successful, but an unfortunate fact of business life is that companies suffer financial hardships. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are negatively affected and it’s up to you to lead the recovery. Here are 5 steps you can take to help your business recover after…  Read more

Cash Flow Advice for Small Businesses

Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management is a major concern for them. Cash flow refers to the movement of money into…  Read more

Change to Your Corporate Year End Report

If your corporation ends on or after December 14, 2021, you need to meet a new accounting standard called the Canadian Standard on Related Services (CSRS) 4200. Why the change? It has been 33 years since the standard has been revised. These new Compilation Engagements are designed to ensure you are fully accountable for your financial information and reporting. Also, to ensure the accounting world is standardized with tighter rules.…  Read more

4 Things to Consider Before Expanding Your Service Offerings

If you’re looking to grow your business, you might consider expanding your service offerings. Adding additional services is a good way to increase your profitability, diversify your income and expand your market. But there are important things to consider before adding to your income streams. Here are 4 important things to keep in mind when you consider adding to your services. 1. Does the expansion complement your business? The best…  Read more

Thank you to all of our clients!

We want to extend a warm and heartfelt thank you to all of our wonderful clients. Knowing that you appreciate everything we do means the world to us. Wishing all of you the very best this holiday season!  Read more

4 Tips for Encouraging Repeat Customers

There’s a lot of data supporting the idea that it’s less costly, easier and more efficient to encourage repeat customers than bring in new ones. Among the stats Hubspot lists are that a 5% increase in customer retention is responsible for more than 25% increase in profit; repeat customers are 9 times more likely to convert than first-time visitors; and a 2% increase in customer retention has a similar impact…  Read more

4 Benefits to Hiring a Bookkeeper for Your Business

Bookkeepers can be highly beneficial for businesses of any size. They offer expertise and insight into areas that you may not have experience in. They can also take some tasks off your to-do list, freeing up your time and energy to focus on other matters. Here are 4 benefits to hiring bookkeepers to help you manage your business. Expertise A bookkeeper is an expert at managing, sorting and recording your…  Read more

Happy Holidays from the AoM Team!

Happy Holidays from the Accountants on Main team! We hope your holidays will be filled with joy and laughter through the New Year. Thank you for your continued support and partnership. We look forward to working with you in the years to come. Please note that our office will be closed for the holidays from the end of day on Thursday, December 23, 2021 and will re-open at 9:00 AM…  Read more

4 Reasons Your Business Should Consider Digital Receipts

Receipts are vital to successfully running a business. You need receipts to track your purchases and expenses. Your clients need receipts for their tax purposes and to manage their finances. Paper receipts have been around a long time, so many people are used to them and may even be resistant to moving away from them. Thanks to technology, paper receipts are becoming more a thing of the past. There are…  Read more

How Much Cash Does My Business Need?

Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. There is no single factor that determines how much cash every business needs to have on hand. Somewhere between 3-6 months of operating expenses is…  Read more

Thank you!

Thank you to our wonderful client for the beautiful gift box. Such a lovely and thoughtful gesture!  Read more

Lest We Forget

This November, Accountants on Main remembers and honors every individual whom has served our country. Lest we forget.  Read more

4 Ideas to Manage Customer Wait Times Without Hiring More People

Balancing customer experience against your budget is a difficult task. You need the right amount of staff working to keep customers happy, but not so many people that workers are standing around looking for things to do. If your customers have long wait times, that’s good news for you initially—it means your business is popular. The bad news is customers won’t wait around forever for you to fix your time…  Read more

Happy Halloween from Accountants on Main!

Happy Halloween from the Accountants on Main team! We wish you a safe & fun spooky season! Also, be sure to vote for our Halloween window displays by commenting on the Downtown Georgetown post below.  Read more

3 Tips for Working Smarter and Gaining Personal Time

You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time. Too many business owners think they must keep working harder—taking on more responsibilities and working longer hours—to be successful. It makes sense, because you’re responsible for your business, but that route leads to work overload and…  Read more

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