NEWS

red wall with black letters tax man

10 Red Flags that will get you Audited

Feb 8, 2021

Susan Ward from Small Business Info has an informative article on the 10 Red Flags  that will get the attention of CRA.  These are great tips for entrepreneurs and business owners to follow.  It is so important to not get flagged by the CRA. If you follow these practises you can have peace of mind that you are making the right decisions for your business.

As Susan says, would really stroll through a farmer’s field waving a red flag around, trusting that the bull was asleep?

If you’re self-employed, this is exactly what you’re doing every time you file your Canadian income tax – except that when it comes to the Canada Revenue Agency (CRA), the bull is always awake and it’s really, really easy to get its attention.

Some of the red flags are:

Discrepancies in your revenue, deducting large business expenses, claiming the home office deduction, claiming 100% business use of a vehicle and showing recurring losses.  Read about those flags here

Because the CRA scrutinizes the tax returns of small businesses especially closely, Canadians who are self-employed always have a higher risk of being audited than those who are employed by others.

And while there’s no sure-fire way to avoid a CRA audit, you can cut down the odds by avoiding known audit triggers.

If you want to decrease the chances of your small business being audited by the CRA, avoid these 10 Red Flags.

 

BACD has a workshop with the CRA on business expenses and taxes on February 11th. 2021

Register for the CRA Workshop

 

 

Digital Main Street -deadline extended!!

Nov 27, 2020

The deadline for the Digital Main Street Grant program has been extended to December 15. 2020

WORKSHOP: Dec 4. 2020 9:30am How to apply for the grant

As part of our mandate to help Durham businesses impacted by COVID-19, the BACD is pleased to facilitate the Digital Main Street program. Digital Main Street is a government-based initiative to help business owners expand their digital presence. Through this partnership, we are offering a number of FREE digital services to business over 1 year in operation.

Some of the resources available include:

  • Setting up a Google My Business profile
  • SEO (search engine optimization)
  • Website design recommendations
  • Social media strategies and tools
  • Digital marketing strategies
  • E-commerce setup
  • Email marketing

Please contact us via email at Jamiedss@bacd.ca or orzaladss@bacd.catoday to find out how we can help you to improve your digital footprint and market your business online.

The Business Advisory Centre Durham (BACD) is one of 3 organizations managing the Shop Here and Digital Main Street program in Durham Region.

The Whitby BIA manages their members and the Clarington Board of Trade is managing the Municipality of Clarington businesses. If you are part of the Whitby BIA or in the Municipality of Clarington, please contact them directly.

Highlights: Do It In Durham 2020 – the virtual edition

Nov 26, 2020

Thank you to everyone who joined us Do It In Durham Entrepreneurship Week 2020 – online!

2020 has been a year that no one thought could ever happen. It has challenged people and businesses in so many ways. It has challenged us to think about different ways to do business that would not have been part of the business model or way of doing business in the past. It has also brought many creative and innovative ways to the forefront for many.

This year, we embrace change and challenge through our themes of Digital Tools, Digital Marketing, Business Mindset and Exploring New Markets.

Enjoy, learn, share and connect with us here at BACD – we are here to support you in anyway that we can!

Thank you to our sponsors & partners – we could not have done this without you.


**Monday** started with over 50 people listening to Chair John Henry as he opened the week and shared about the growth of our Region. Simon Gill, Director of Economic Development and Tourism gave a fantastic presentation on the Region, Economic Development and supports for business, we finished with Brandon Pickard, Tourism Manager debuting #ShopDurhamRegion and #SupportLocal.

As business owners and consumers, we have a choice as to where we invest our dollars. Supporting local make sense. Watch the opening

Laura Beauparlant of LabCreative Inc. ran a fantastic workshop on It’s All About Chemistry – Why Brands Success or Fail. Watch event

Colleen Imrie of The Nooks Canada highlighted their Maker Series – another marketplace for local maker businesses. Watch event


**Tuesday**

Women’s Entrepreneurship Going Global  Screen shot of women entrepreneurs
Information, support and resources available for Women entrepreneurs and how to start exporting services and products.  A BIG thank you to guest speakers Karima (KC) Goundiam and Melissa Malcolm who shared their personal experiences. Watch event

 

Reimagine, Recover, Relaunch Panel
Local small business owners on how they overcame the challenges of COVID19 and adapted to the ‘new normal.’ Thank you, Uchechi Ezurike-Bosse, the wonderful moderator for the event and the guest speakers: Frantastic Events, All or Nothing Brewhouse & Distillery, Full Tilt Cycle Durham, and The Maker’s Hub. Wow, so many great pieces of wisdom shared tonight. Watch event


**Wednesday**

Your Virtual Storefront – Shaun Bernstein, The Write Stuff
A robust web presence is integral to being found online. Everyone searches online. Watch event

Speak with Apology to Overthrow Imposter SyndromeGreg Frankson, VoiceShare
Watch as Greg guides the audience to live into the reality of who they are and what they can contribute. Watch event

Sell more of your Current Products & Services with OnlineSamantha King, Fempire Builders
Online courses bring in cash! Learn the nuts and bolts of creating an online course. Watch event

1855 Whitby: Masterclass Our right to Access

Thank you to Chantal Kreviazuk for her beautiful performance.


**Thursday**

Cyber Security for the Business Soul, Darnley Greson JR, DarnIT
S steps to protect your business “online” in this new digital age of working remotely. Watch event

20 Content Ideas for the Holidays – Orzala Quddusi, Make It Happen Online
Creative ideas on how content allows your business to stand out and be unique. Watch event

People Purpose Planet – Social Enterprise ChatJay Fisher, FastStart Durham College. Social enterprises are on the rise! Businesses can solve a social problem and be socially responsible.  Watch event


**Friday**

Developing Effective Business Systems, Judith Tait
Working ON your business, rather than IN it. Creating the time and money freedom they desire. Watch event

Avery Swartz, See you on the Internet
Superbly simple steps to improve your digital marketing both globally and locally. Watch event


There were 49 events!

The presenters of Do It In Durham volunteer their time and expertise. THANK YOU for making our business community what it is!

Introduction to Exporting: New Market Opportunities and Resources to Help You.
A very informative session presented by Daiana Villarreal and Ryan Convery| Ministry of Economic Development, Job Creation, and Trade Download pdf

Raising Capital through Angel Investors – Kristen Marumoto, Spark Angel Network

How To Get Clients and Customers With Google – Brandon Quan, Champions of SEO
This session was packed full of information to help businesses improve their digital assets’ SEO.

How to Get Found on Google Search and MapsM. Yalçın Parmaksız

What’s Brewing – Oshawa Chamber of Commerce

Heart of Networking Events

Buying Journey of Your Digital Customer – Ameya Juvekar,  Scaleup42.com

Selling on the Spot Marketplace. Website

Brilliant Catalyst 2nd Anniversary Event Ontario Tech University Website

The Side Hustle Starter Kit, Jeff Mitchell – The Makers Collective
Register for the next Side Hustle Starter Kit session: Register now

Spark Centre Startup Grind In Conversation with the inspirational Anthony Lue

Business Booster Shot: A Panel event hosted by the UNG-Uxbridge Networking Group, led by Annie Hardock.

Do It In Durham Unwind Wrap Up Event – a small group of passionate people joined us for the final hurrah.. it was a long week, made longer by sitting in front of a computer all day – thank you for showing up and celebrating. We had such a fun time chatting and laughing together. Business does not always need to be serious.

 

Ontario Supporting Small Businesses with Financial Advice and Training

Nov 19, 2020

Investment to provide new online resources to help entrepreneurs during COVID-19

NEWS RELEASE

November 19, 2020
Economic Development, Job Creation and Trade

The Ontario government is investing over $2.2 million through the Ontario Together Fund to provide small businesses with free, tailored financial advice and online training to help them make informed financial decisions and navigate the unprecedented economic circumstances brought on by the COVID-19 pandemic.

When included alongside the 2020 Ontario Budget, Ontario’s Action Plan: Protect, Support, Recover and the Main Street Recovery Plan, these supports are part of a comprehensive package of proposed legislation, funding programs, and services and resources to help small businesses when and where they need it the most.

“Many small businesses across the province are being hit hard by COVID-19, and our government is doing everything it can to help them get back on their feet and recover, not just today, but every step of the way,” said Minister Fedeli. “By providing these entrepreneurs with financial advice and training we can arm them with the information they need to remain viable and contribute to Ontario’s economic recovery.”

Ontario is providing $2,040,000 to support Ontario’s 47 Small Business Enterprise Centres (SBEC) led by the Business Advisory Centre Durham to create a new Small Business COVID-19 Recovery Network. This network will enhance the capacity of all SBECs across the province to expand their services, supporting businesses across the province.

The project will also build one central portal where businesses can access digital tools and training, connect with mentors and industry experts, and get information on government programs to help them navigate COVID-19 and beyond. Through this network, up to 75,000 small businesses in Ontario can be reached.

The government is also providing $131,000 for Chartered Professional Accountants of Canada to develop and deliver a four-part COVID-19-specific financial literacy tool kit for small businesses. Key components of the project include podcasts, webinars and online booklets that will focus on pandemic recovery, cash management, managing risks, and information on small business tax.

Ontario is also providing $51,000 for Financial Advisors Association of Canada, a non-profit association of financial advisors, to provide pro-bono professional financial advice for small companies through its online platform, Advocis Connect. With the government’s support, the association will connect small businesses with financial advisors for free advice on the current financial state of their business, how to pivot the business to manage the current economic emergency, and guidance for applying to federal and provincial government support programs.

“Small businesses are the backbone of Ontario’s economy and they are making extraordinary sacrifices to keep their employees safe, their customers confident and their communities strong during these toughest times,” said Minister Sarkaria. “These new programs build on our government’s commitment to be in the corner of small businesses and previous actions including our Main Street Recovery Plan, our $60 million personal protective equipment grant program and helping small businesses build their e-commerce presence, among others.”

The Ontario government also launched applications for eligible businesses to apply for the Main Street Relief Grant and temporary property tax and energy cost rebates through a single, online application portal. Many businesses should expect to receive their grants or rebate payments within a few weeks of finalizing and submitting their completed application. The Main Street Relief Grant is available to small businesses with two to nine employees in retail, accommodations and food services, repair and maintenance, and personal and laundry services to help cover personal protective equipment costs.

red wall with black letters tax man

10 Red Flags that will get you Audited

Feb 8, 2021

Susan Ward from Small Business Info has an informative article on the 10 Red Flags  that will get the attention of CRA.  These are great tips for entrepreneurs and business owners to follow.  It is so important to not get flagged by the CRA. If you follow these practises you can have peace of mind that you are making the right decisions for your business.

As Susan says, would really stroll through a farmer’s field waving a red flag around, trusting that the bull was asleep?

If you’re self-employed, this is exactly what you’re doing every time you file your Canadian income tax – except that when it comes to the Canada Revenue Agency (CRA), the bull is always awake and it’s really, really easy to get its attention.

Some of the red flags are:

Discrepancies in your revenue, deducting large business expenses, claiming the home office deduction, claiming 100% business use of a vehicle and showing recurring losses.  Read about those flags here

Because the CRA scrutinizes the tax returns of small businesses especially closely, Canadians who are self-employed always have a higher risk of being audited than those who are employed by others.

And while there’s no sure-fire way to avoid a CRA audit, you can cut down the odds by avoiding known audit triggers.

If you want to decrease the chances of your small business being audited by the CRA, avoid these 10 Red Flags.

 

BACD has a workshop with the CRA on business expenses and taxes on February 11th. 2021

Register for the CRA Workshop

 

 

Digital Main Street -deadline extended!!

Nov 27, 2020

The deadline for the Digital Main Street Grant program has been extended to December 15. 2020

WORKSHOP: Dec 4. 2020 9:30am How to apply for the grant

As part of our mandate to help Durham businesses impacted by COVID-19, the BACD is pleased to facilitate the Digital Main Street program. Digital Main Street is a government-based initiative to help business owners expand their digital presence. Through this partnership, we are offering a number of FREE digital services to business over 1 year in operation.

Some of the resources available include:

  • Setting up a Google My Business profile
  • SEO (search engine optimization)
  • Website design recommendations
  • Social media strategies and tools
  • Digital marketing strategies
  • E-commerce setup
  • Email marketing

Please contact us via email at Jamiedss@bacd.ca or orzaladss@bacd.catoday to find out how we can help you to improve your digital footprint and market your business online.

The Business Advisory Centre Durham (BACD) is one of 3 organizations managing the Shop Here and Digital Main Street program in Durham Region.

The Whitby BIA manages their members and the Clarington Board of Trade is managing the Municipality of Clarington businesses. If you are part of the Whitby BIA or in the Municipality of Clarington, please contact them directly.

Highlights: Do It In Durham 2020 – the virtual edition

Nov 26, 2020

Thank you to everyone who joined us Do It In Durham Entrepreneurship Week 2020 – online!

2020 has been a year that no one thought could ever happen. It has challenged people and businesses in so many ways. It has challenged us to think about different ways to do business that would not have been part of the business model or way of doing business in the past. It has also brought many creative and innovative ways to the forefront for many.

This year, we embrace change and challenge through our themes of Digital Tools, Digital Marketing, Business Mindset and Exploring New Markets.

Enjoy, learn, share and connect with us here at BACD – we are here to support you in anyway that we can!

Thank you to our sponsors & partners – we could not have done this without you.


**Monday** started with over 50 people listening to Chair John Henry as he opened the week and shared about the growth of our Region. Simon Gill, Director of Economic Development and Tourism gave a fantastic presentation on the Region, Economic Development and supports for business, we finished with Brandon Pickard, Tourism Manager debuting #ShopDurhamRegion and #SupportLocal.

As business owners and consumers, we have a choice as to where we invest our dollars. Supporting local make sense. Watch the opening

Laura Beauparlant of LabCreative Inc. ran a fantastic workshop on It’s All About Chemistry – Why Brands Success or Fail. Watch event

Colleen Imrie of The Nooks Canada highlighted their Maker Series – another marketplace for local maker businesses. Watch event


**Tuesday**

Women’s Entrepreneurship Going Global  Screen shot of women entrepreneurs
Information, support and resources available for Women entrepreneurs and how to start exporting services and products.  A BIG thank you to guest speakers Karima (KC) Goundiam and Melissa Malcolm who shared their personal experiences. Watch event

 

Reimagine, Recover, Relaunch Panel
Local small business owners on how they overcame the challenges of COVID19 and adapted to the ‘new normal.’ Thank you, Uchechi Ezurike-Bosse, the wonderful moderator for the event and the guest speakers: Frantastic Events, All or Nothing Brewhouse & Distillery, Full Tilt Cycle Durham, and The Maker’s Hub. Wow, so many great pieces of wisdom shared tonight. Watch event


**Wednesday**

Your Virtual Storefront – Shaun Bernstein, The Write Stuff
A robust web presence is integral to being found online. Everyone searches online. Watch event

Speak with Apology to Overthrow Imposter SyndromeGreg Frankson, VoiceShare
Watch as Greg guides the audience to live into the reality of who they are and what they can contribute. Watch event

Sell more of your Current Products & Services with OnlineSamantha King, Fempire Builders
Online courses bring in cash! Learn the nuts and bolts of creating an online course. Watch event

1855 Whitby: Masterclass Our right to Access

Thank you to Chantal Kreviazuk for her beautiful performance.


**Thursday**

Cyber Security for the Business Soul, Darnley Greson JR, DarnIT
S steps to protect your business “online” in this new digital age of working remotely. Watch event

20 Content Ideas for the Holidays – Orzala Quddusi, Make It Happen Online
Creative ideas on how content allows your business to stand out and be unique. Watch event

People Purpose Planet – Social Enterprise ChatJay Fisher, FastStart Durham College. Social enterprises are on the rise! Businesses can solve a social problem and be socially responsible.  Watch event


**Friday**

Developing Effective Business Systems, Judith Tait
Working ON your business, rather than IN it. Creating the time and money freedom they desire. Watch event

Avery Swartz, See you on the Internet
Superbly simple steps to improve your digital marketing both globally and locally. Watch event


There were 49 events!

The presenters of Do It In Durham volunteer their time and expertise. THANK YOU for making our business community what it is!

Introduction to Exporting: New Market Opportunities and Resources to Help You.
A very informative session presented by Daiana Villarreal and Ryan Convery| Ministry of Economic Development, Job Creation, and Trade Download pdf

Raising Capital through Angel Investors – Kristen Marumoto, Spark Angel Network

How To Get Clients and Customers With Google – Brandon Quan, Champions of SEO
This session was packed full of information to help businesses improve their digital assets’ SEO.

How to Get Found on Google Search and MapsM. Yalçın Parmaksız

What’s Brewing – Oshawa Chamber of Commerce

Heart of Networking Events

Buying Journey of Your Digital Customer – Ameya Juvekar,  Scaleup42.com

Selling on the Spot Marketplace. Website

Brilliant Catalyst 2nd Anniversary Event Ontario Tech University Website

The Side Hustle Starter Kit, Jeff Mitchell – The Makers Collective
Register for the next Side Hustle Starter Kit session: Register now

Spark Centre Startup Grind In Conversation with the inspirational Anthony Lue

Business Booster Shot: A Panel event hosted by the UNG-Uxbridge Networking Group, led by Annie Hardock.

Do It In Durham Unwind Wrap Up Event – a small group of passionate people joined us for the final hurrah.. it was a long week, made longer by sitting in front of a computer all day – thank you for showing up and celebrating. We had such a fun time chatting and laughing together. Business does not always need to be serious.

 

Ontario Supporting Small Businesses with Financial Advice and Training

Nov 19, 2020

Investment to provide new online resources to help entrepreneurs during COVID-19

NEWS RELEASE

November 19, 2020
Economic Development, Job Creation and Trade

The Ontario government is investing over $2.2 million through the Ontario Together Fund to provide small businesses with free, tailored financial advice and online training to help them make informed financial decisions and navigate the unprecedented economic circumstances brought on by the COVID-19 pandemic.

When included alongside the 2020 Ontario Budget, Ontario’s Action Plan: Protect, Support, Recover and the Main Street Recovery Plan, these supports are part of a comprehensive package of proposed legislation, funding programs, and services and resources to help small businesses when and where they need it the most.

“Many small businesses across the province are being hit hard by COVID-19, and our government is doing everything it can to help them get back on their feet and recover, not just today, but every step of the way,” said Minister Fedeli. “By providing these entrepreneurs with financial advice and training we can arm them with the information they need to remain viable and contribute to Ontario’s economic recovery.”

Ontario is providing $2,040,000 to support Ontario’s 47 Small Business Enterprise Centres (SBEC) led by the Business Advisory Centre Durham to create a new Small Business COVID-19 Recovery Network. This network will enhance the capacity of all SBECs across the province to expand their services, supporting businesses across the province.

The project will also build one central portal where businesses can access digital tools and training, connect with mentors and industry experts, and get information on government programs to help them navigate COVID-19 and beyond. Through this network, up to 75,000 small businesses in Ontario can be reached.

The government is also providing $131,000 for Chartered Professional Accountants of Canada to develop and deliver a four-part COVID-19-specific financial literacy tool kit for small businesses. Key components of the project include podcasts, webinars and online booklets that will focus on pandemic recovery, cash management, managing risks, and information on small business tax.

Ontario is also providing $51,000 for Financial Advisors Association of Canada, a non-profit association of financial advisors, to provide pro-bono professional financial advice for small companies through its online platform, Advocis Connect. With the government’s support, the association will connect small businesses with financial advisors for free advice on the current financial state of their business, how to pivot the business to manage the current economic emergency, and guidance for applying to federal and provincial government support programs.

“Small businesses are the backbone of Ontario’s economy and they are making extraordinary sacrifices to keep their employees safe, their customers confident and their communities strong during these toughest times,” said Minister Sarkaria. “These new programs build on our government’s commitment to be in the corner of small businesses and previous actions including our Main Street Recovery Plan, our $60 million personal protective equipment grant program and helping small businesses build their e-commerce presence, among others.”

The Ontario government also launched applications for eligible businesses to apply for the Main Street Relief Grant and temporary property tax and energy cost rebates through a single, online application portal. Many businesses should expect to receive their grants or rebate payments within a few weeks of finalizing and submitting their completed application. The Main Street Relief Grant is available to small businesses with two to nine employees in retail, accommodations and food services, repair and maintenance, and personal and laundry services to help cover personal protective equipment costs.