Rely on advisors and experts Government programs such as loans and wage subsidies are complex and constantly changing, noted Brandy Svendson, CEO and co-founder of Be the Change Group Inc., a global health consulting firm in Vancouver.
The thresholds have changed though so she suggested small business owners check the programs again to see if they now qualify.
Ms. Kaye noted the government support programs don’t apply to many small businesses because they use contractors instead of having people on the payroll, or revenues haven’t declined enough.
The Globe and Mail hosted a webcast on June 23 to provide small business owners with finance strategies.
Consider tax strategies Small businesses owners who have experienced a drop in the value of the company might consider an estate freeze, said Jamie Golombek, managing director of tax and estate planning with CIBC.
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