September 2013

When you apply for a loan for your small business, your personal credit rating often plays a role in whether or not you are able to obtain financing. Your credit report tells a story about how well you’ve managed credit. You can obtain a free copy of your credit report from one of the two main credit bureaus in Canada, Equifax or TransUnion.

Here are some tips on how to maintain or improve your credit score.

1. Pay bills on time: Ideally, you should pay your bills in full and on time. If you can’t make the full payment, then at least pay the minimum amount by the due date.

Entrepreneurship is exhilarating! Entrepreneurs are confident, optimistic passionate and determined self-starters. Yet, working solo can be very challenging.

Entrepreneurs, freshly picked or well-seasoned, can benefit from working with a mentor who can play a major role in their continued personal and professional development. Here are six reasons why mentors are important to your business success.

Inspiration:
Mentorship is a relationship of learning that develops over time, toggling between the past (experiences and knowledge) and the future (visioning and strategic thinking). The importance of celebrating wins and learning from mistakes grounds the basis for this relationship.

In today’s competitive business world, it’s essential for entrepreneurs to use more technology and to learn to use it better.

Technology can not only boost sales, increase productivity and improve management control but also provide an essential platform for business innovation of all kinds, including the development of new products and services.

Yet, Canadian businesses invest just 60% per employee in this area compared with their U.S. peers. The good news is that it has never been easier for smaller businesses to make the most of technology.

I have learned in my two years of attending the WEConnect/Women’s Business Enterprise National Council (WBENC) conference that it’s easy to spot those who have done a lot of networking and handshaking and those who have not.

There is always the lure of landing that big contract with that big corporation that will propel your business to another level. However, these opportunities evolve from networking and building relationships.