Is AI a Game Changer for Small Businesses?
In April 2024, the Liberal Government announced the launch of two programs to grow Canada’s AI ecosystem. As part of a $2.4 billion package of AI-focused initiatives announced in Budget 2024, there will be $300 million earmarked for small and medium sized enterprises (SMEs). First, $200 million will be made available to bring new AI […]
Bench Accounting’s Cautionary Tale
For a startup, an institutional market of investors exists for companies that are looking to hit home runs seeking explosive revenue growth and quick exits. However, the trade-off is often loss of control over the business. The collapse of Vancouver’s Bench Accounting at the end of last year is a cautionary tale about the consequences […]
The Devastating Impact of Trump’s Tariffs on Canadian Small Businesses
On Friday, January 31, President Donald Trump confirmed tariffs on Mexico, Canada and China to start that weekend, implementing a 25% blanket tariff on Canadian goods coming across the border, except for oil, which will be taxed at 10%. Business owners across the country cancelled their weekend plans and scrambled to figure out next steps […]
The Resiliency of Entrepreneurs in the Wake of COVID
In early March, we realized a seismic shift was hitting the business world like never before. In the wake of the pandemic, our clients’ tone changed from a rosy expansionary outlook to one of uncertainty and survival. By mid March, after two capital raising engagements cancelled, we came to the realization that traditional capital raising […]
How a Door to Door Sales Job Changed My Life
As a teenager with minimal work experience, opportunities for summer jobs were slim. I ended up taking up a job that required no prior work experience or education: door to door sales. I joined a company called Red Rocket at Yonge and Bloor where we were sent out to various territories to sell $5-10 knick knacks including […]
Do you feel like you’re getting screwed by your accountant?
In the last few months, quite universally, almost every new potential client I have spoken to is not happy with their accounting. On the one hand, there are businesses that have decided to hire bookkeepers. While their $20-30 / hr fee is attractive, they typically do not know how to book complex transactions that require capitalization, foreign […]
2019 Vistance Recap & Happy Holidays
Dear Friends, Family and Colleagues, As 2019 comes to a close, we would like to take a moment to reflect on the last year. In April, we began a rebranding exercise completely revamping our corporate name, logo, and website, working with Imprint Marketing. At this point, I did not know what to expect and questioned whether we […]
Entrepreneurs Are from Mars, Accountants Are from Venus
Ask a business owner how they feel about their accountant, and you’ll often hear the same things: Ask accountants what they think about working in companies and you often hear the same things: What is really going on here? Are accountants and entrepreneurs from two different planets? Well not necessarily, but it is easy to […]
Hitting the Reset Button
In order to provide guidance on future business strategy, we thought we would take some time today to look back at what happened when the pandemic first broke out in March 2020. As a financial consultant, we provide our clients general best practices on review of the internal business. However, admittedly, when a company is […]
The Pitfalls of Expanding Your Business Too Quickly
What CEO doesn’t love growth? Every entrepreneur has a dream of launching multiple products into multiple jurisdictions, expanding their empire to new heights. However, I have witnessed more instances of chaotic growth leading to losses vs. responsible and sustainable growth. While there is something to be said about moving quickly and capitalizing on a market opportunity before it […]
