There’s nothing like an impending crisis to force Canadian entrepreneurs to become more creative in their business dealings, explore new markets and generally seek new ways to become even more innovative. Our slowly-escalating trade conflict with the United States is just such a moment in time when many business owners will begin to re-think their […]
In today’s business environment, leaders are encouraged to speak in a transparent, honest way to their employees, customers, partners, suppliers, shareholders and any other party that may be somehow connected to their organization. Some even take the opportunity to speak of their failures just as readily they discuss their successes. From Facebook executive Sheryl Sandberg […]
It’s a nightmare scenario for any organization whose brand or operational structure is largely built around the expertise and industry standing of a charismatic owner or leader: that individual’s sudden, untimely passing. Fiat Chrysler (FCA) was forced to deal with just such a crisis in recent weeks when longtime CEO and turnaround wizard Sergio Marchionne […]
When U.S. President Donald Trump imposed tariffs on Canadian steel and aluminum in June, executives in those industries recoiled at the potential fallout, and warned of pending job and revenue losses. Economists promptly cautioned that the ripple effect wouldn’t be contained to those two sectors. Indeed, entire supply chains could face widespread disruption as the […]
Family-owned businesses are a key driving force behind the success of the Canadian economy. As an accounting firm that works almost exclusively with entrepreneurs, we see this widespread reality playing out almost every day. Indeed, we’ve worked with dozens of family-run corporations, many in their second or third generations, that have enjoyed sustained financial success […]
The New Year rang in a minimum wage increase for Ontarians, as well as a double-double firestorm of controversy as many small and medium-sized businesses—particularly restaurant franchisees, who have borne the full brunt of the increase—took swift action to protect their bottom lines. With the passage in the fall of Bill 148, The Fair Workplaces, […]
A new Canada Revenue Agency (CRA) directive is about to make it much harder for entrepreneurs to correct legitimate tax errors without significant repercussions. The CRA recently proposed changes to the Voluntary Disclosure Program (VDP), an initiative that allows taxpayers to correct mistakes or oversights on their Canadian tax returns, or make new submissions, for […]
It’s the entrepreneur’s dream—come up with an idea, develop a business plan, start building out a product or service, then take it to market and experience rapid year-over-year growth. But in almost every case, fast growth comes with strategic business challenges. Some of them are so daunting they can push a company off the rails […]
The sliding Canadian dollar has left most business owners in a tough spot. While exporters likely have—or soon will—enjoy an increase in demand for their products thanks to the lower loonie, any entrepreneur that imports goods or services is surely experiencing significant bottom-line pain as a result of our currency’s tumble, one that doesn’t show […]
As the summer winds down, we’ve been treated to the usual mix of sun, warm weather and, hopefully for most of us, a week or two of vacation. We’ve also witnessed a rather unusual event—a competitive Toronto Blue Jays team that, at least according to the current divisional standings, is on pace to make the […]
Copyright KRP LLP 2020
KRP LLP is a proud member of Russell Bedford International – a global network of independent professional services firms