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The Perfect Storm for Fraud

The Perfect Storm for Fraud

Gregory Clarke on September 2, 2020 in Assurance & Advisory

Since the start of the pandemic in March 2020, many companies are operating in a different manner and environment than their historical norm. Our new normal consists of businesses that quickly moved from an office environment to home office work stations with employee discussions using new tools like Zoom to facilitate a connection to the outside world. Companies had to change quickly to … Continued

AI and Your Business

Gregory Clarke on August 27, 2020 in Advice for Business Owners

Artificial Intelligence, commonly referred to as AI, has become a focus of technological development in recent years. These programs appear in our daily lives with the ability to ask our assistants, like Siri or Alexa, to do several things for us. The use of AI in business is on the rise as companies embrace the … Continued

How to Increase Your Profitability

Gregory Clarke on August 9, 2017 in Uncategorized

If you’re looking for ways to increase your profitability, focus your attention on the four profit determining factors: Price How much you charge a customer for a product/service will obviously drive profitability. An increase in price may result in less sales but the resulting positive effect to gross margin may offset the lower volumes to … Continued

Tax-Free Savings Account Contribution Limit 2016

Gregory Clarke on December 11, 2015 in Tax

Over the years, many Canadians have opened a Tax-Free Savings Account or “TFSA” to take advantage of the significant tax benefit of those plans. TFSA’s started in 2009 and allowed Canadians who were 18 years of age or older to contribute funds to the TFSA. Any investment income earned on the funds in the TFSA … Continued

The Pros of Processes and Procedures

Gregory Clarke on August 18, 2015 in Advice for Business Owners

Einstein defined insanity as doing the same thing over and over but expecting a different result. In business, repetition of processes with the purpose of achieving the same result is the desired outcome. Standard results are valued as a predictor of success over random results achieved through inconsistent practices. Properly thought out and executed processes … Continued

Five Reasons Auto Dealers Should Have a Personal Financial Plan - Part 2 Manage Assets

Gregory Clarke on October 16, 2014 in Advice for Business Owners

Today we reveal the second reason why developing a comprehensive financial strategy is important to an auto dealer’s long-term financial success. Manage Assets After the plan has been developed, the portfolio needs to be managed.  Recognizing that there are a multitude of great online brokerage systems, investing the time to research and monitor investments is … Continued

5 Reasons Auto Dealers Should Have a Personal Financial Plan - Part 1 Secure Your Future

Gregory Clarke on October 8, 2014 in Advice for Business Owners

Most auto dealers would agree that personal financial planning is important but too often multiple priorities and the daily pressures of the business distract from developing a comprehensive strategy. Over the next five weeks, read through why financial planning is important and then see if you are ready to get started. Secure Your Future As … Continued

What Happens When Your Business Accepts an Investor?

Gregory Clarke on July 30, 2014 in Advice for Business Owners

What happens to your business when you accept an investor is dependent on the type of investment and the investor. Investments can take different forms: Debt or loan – this is similar to bank financing where the company records the liability and pays interest on the loan amount. If you have bank covenants, then you … Continued

Be Careful When it Comes to Your Online Content

Gregory Clarke on September 11, 2013 in Advice for Business Owners

When you leave in the morning, you always lock your front door. We lock our cars and we secure our businesses. Our hard assets are physically secure and we have property insurance in case a break and enter occurs. This is standard practice and gives us peace of mind, but what about your online content? … Continued