It is not uncommon for small businesses to share their frustrations with their accountant concerning the growth of their business. Very often an experienced accountant can offer a lot of good tax planning advice to help companies move in the right direction. For example, these financial experts can often discern when it would be more of a tax advantage to incorporate a business that has been operating as a proprietorship in the past.
Another common problem that is often surfaced is when a company reaches a crossroad in their business where they need to make some decisions about expansion. The business has outgrown its current situation but not to the point where it produces enough capital for re-investment. Accounting clients will often ask if there is any type of government assistance.
Often this comes under the umbrella of research and development and is a specialty of its own. R & D almost seemed like it was reserved for only the very big corporations, and in many ways still is. However, the government is also looking at the small to medium businesses in a new light. They are beginning to see that perhaps with the right help and guidance these companies have a lot to offer the Canadian economy.
Trying to find the right place within the Government to get the right answers can be new impossible. This too may be changing as now there is a new program in place called the Concierge Service. What you will find here is that you can actually talk to people “in the know” who are aware of what exactly is available by way of assistance programs for different levels of business. Communication can be by online, through phone inquiries and even in person consultations.
If you pay a visit to the concierge site you will find it easy to navigate, and a wide range of programs that are available to businesses depending on their size and need. There is a lot of information to be found here. It may appear a little overwhelming and intimidating at first, but go beyond this apprehension and take a look at each of the programs that are being offered carefully.
If you find something that seems to relate to your business then at least pursue it by contacting the concierge. You will find lots of contact information on the site.
In the meantime make sure that you keep an open line of communication with your business accountant as there are many sectors of your business that this professional can be of great assistance with.
