8 Top Notch Information Resources for Small Businesses

As a small business owner, business blogger and service provider to other small business, I’m always looking for resources that will help me improve my own business, and provide insight into the latest developments, innovations, tools and guidance on financial and tax matters.  Over time, I have bookmarked a list of the resources that I visit frequently:

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15 Canadian Small Business Facts and Figures

 

Canada is a nation of small businesses.  In fact the vast majority of business in Canada are technically defined as small businesses i.e. less than 100 employees.  Industry Canada keeps track of the facts and figures as they relate to small businesses, some of the more interesting ones are enumerated below:
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New Revenue Quebec Requirements for Mandatory Billing/SRMs in Restaurants

To combat perceived tax evasion in the restaurant sector, Revenue Quebec(MRQ) has implemented a new program which requires all businesses in the restaurant sector to comply with certain rules, most notably the installation of a Sales Recording Module (SRM), that has been selected by the MRQ.  To compensate for the costs of installing the system, Revenue Quebec is (kindly?)offering a subsidy, the amount of which is dependent on the date of the installation.  Below are some of the key details relating to the program:
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Noteworthy - Sept 19.2010: All About Tax

CRA Targets Tax Shelters:

The CRA is auditing "gifting tax shelters" ,which mainly target middle income earners.  It seems that the tax shelters have been falsifying charitable donation amounts eg. a donation of $30 will turn into a donation receipt of $100 resulting in a tax credit up to $45.   It is estimated that 170,000 taxpayers will be assessed for about $2.5 Billion.

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Small Business Jobs and Credit Bill: Key Provisions

The US senate passed the Small Business Jobs and Credit Act, introduced on May 13, 2010, by a vote of 62 to 38.  The vote included the support of two republicans - George Voinovich of Ohio and George LeMieux of Florida.  The bill will go back to the House of Representatives where democrats are hoping it will be approved without delay.  Some of the key provisions of the bill are as follows:

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Small Business Confidence Declines in August

According to CFIB's Business Barometer® Index , small business confidence for August fell for the third consecutive month to 64.9 last month, down from 65.7 in July.  The 2010 peak was reached in March when the index was at 69.9.  An index result that exceeds 50 indicates that owners expect their business to grow in the following year.  The figure is significantly higher that it was at the end of 2008, when it was below 40.
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