True grit

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RYAN   By Guest Blogger Ryan Lewenza
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Starting and growing a successful business is hard and takes a tremendous amount of time, stress, capital and pure grit and determination (some luck also helps). This is why roughly 40% of new businesses fail in the first five years and 60% in the first 10 years. Tack on a pandemic and lockdowns and it’s been near impossible for small businesses to thrive or for many, continue to operate. Sure Amazon and Shopify are killing it but they don’t exist in our local streets and community.

This is why 58,000 businesses shut down in Canada last year and according to the Canadian Federation of Independent Business, one in six, or 181,000 businesses are seriously considering closing over the next year, in large part due to the pandemic.

So it’s hard to survive and grow in normal years, just imagine how hard it is for the local restaurant, dry cleaner or bakery shop right now. This is why we need to support our local businesses, now more than ever and why today’s blog is to provide some tips on how to start a new business.

First, before anything else, you need to develop a detailed business plan and map out all the different steps required to successfully launch a business. The business plan should include things like defining what the company does (service or product), how the business will generate revenues, management structure and staffing, financing options, and an operating plan. The business plan can help provide a roadmap for opening a business and it will be needed when seeking outside financial support.

Second, once you have the business plan in place you now need to secure financing/startup funds. A great idea is nothing without capital.

There are four main sources for financing startups – personal investment, family, friends and outside investors, bank loans and government grants and financing.

The most common form of startup financing is through personal investments of cash and collateral. While this is important, you’ll want to include other financing options like government or bank loans to: 1) limit the amount of personal funds invested and therefore risk, and 2) use outside financing to broaden your financing sources and diversify the risk.

One area we stress to our clients looking at opening their own business is to consider utilizing small business loans from the government, through crown corps like the Business Development Bank of Canada (BDC).

The BDC is an arm of the Canadian Federal government and provides loans and various support to small and medium sized companies. The BDC provides small business loans of up to $100,000 and up to $250,000 for start-up financing for companies that have been open for at least 12 months and have revenues. This is a good place to start when looking for capital.

With your business plan in place, now you need to determine the right corporate structure for the business. The two main business structures are incorporating or creating a sole proprietorship. The main advantages of incorporating are generally lower tax rates, income splitting (getting harder to do) and taking advantage of the Lifetime Capital Gains Exemption (LCGE), which allows the sheltering of some gains ($866,912) when selling a company at a capital gain.

But incorporating comes with a lot higher costs like higher legal fees to initially draft the incorporation documents and the ongoing accounting and legal fees. So some small business are better off as a sole proprietorship, which is easy to set up, allows you to deduct expenses from the business income and is less costly in accounting and legal fees. Generally it make sense to look at incorporating when revenues are in the hundreds of thousands.

Finally, you need to develop your online marketing profile and implement a payment processing system. Even if it’s a brick and motor business, you still need an online presence through a website or social media platforms. The first thing people do now is search in Google so you should be doing everything you can to highlight this. You also need to get a profile on important business review sites such as Google My Business, Yelp, and Open table.

So in this vein of supporting local business I want to take a second to give a shout out to my long-time barber and now good friend, Donnie, who took the big leap by going into business for himself by opening his new barber shop, Kingston Barber Shop, which is in the beaches in Toronto.

Donnie emigrated here from Iran, worked his butt off and created a great life for him and his family. It’s people like him and the thousands and thousands of other small businesses that we need to be supporting during this crappy pandemic.

So go out this long weekend and support a local business like my friend Donnie. You’ll feel better after you do.

Ryan Lewenza, CFA, CMT is a Partner and Portfolio Manager with Turner Investments, and a Senior Vice President, Private Client Group, of Raymond James Ltd.

 

99 comments ↓

#1 Dharma Bum on 07.31.21 at 10:37 am

Would anyone in their right mind start a business in this country after witnessing what a dictatorial government can unilaterally do to ruin you without any thought or plan whatsoever?
If I were a small business owner and had to experience the unlawful communist style mandated shutdown that ruined the livelihood of my family I would be screaming for the blood and heads of the barbaric incompetent pseudo-leaders that ruined our businesses and our economy. These dunderheads should all be publicly hung. Extra thick rope for Dougie.
By the way, would anyone trust the guy in the picture to cut THEIR hair????

#2 COVID Barber on 07.31.21 at 10:42 am

Ryan, why are you trying to undercut my business?

I’ve been waiting for Garth to confirm his next appointment since January. Tell him I can still come to Lunenburg and do a complete family haircut for under $24,000. I’ll throw in a free cut for Sinan (won’t take very long) and Doug as well.

#3 Don Guillermo on 07.31.21 at 11:13 am

Ryan, love your support for Donnie. These are great Immigration success stories. I have a similar story about my Lebanese barber Omar. He came to Alberta over 40 years ago and started working in the oil sand camps as a bull cook – not a fun or glamorous job. He worked for years staying on camp even during his rotation off time in order to save money to start a new life. When he had his savings he brought his new bride to Calgary from Lebanon, put a down payment on a house and started up his barber business. Today Omar is happily retired and his son Nodem successfully runs the business and raises a family. I have good chats with Nodem these days about politics. He’s a also a great Albertan (no F-150, no cowboy hat, no dingle balls) but sadly an Oilers fan ☹. I love these stories.

https://www.omarsbarbershopyyc.com/

#4 Joseph R. on 07.31.21 at 11:23 am

Dharma Bum on 07.31.21 at 10:37 am
Would anyone in their right mind start a business in this country after witnessing what a dictatorial government can unilaterally do to ruin you without any thought or plan whatsoever?

————————————————————

Which national government did not introduce a lockdown law?

Sweden, the libertarian’s sexy last year’s fling, introduced their own lockdown law during the second wave:

https://www.bloomberg.com/news/articles/2021-01-08/sweden-plans-to-use-new-lockdown-law-soon-prime-minister-says

BTW, Sweden is more “socialistic” than Trudeau’s government will ever be. If you prefer capitalism, stay here.

Can you inform everyone on the board which country do you want to move to?

#5 Keith on 07.31.21 at 11:28 am

Congratulations Donnie! You represent so much that is good about Canada, and the new citizens who are here to build and grow our country. Best wishes for success.

#6 crowdedelevatorfartz on 07.31.21 at 11:29 am

Good Luck Donnie!

I’m glad to see someone else in Canada flies a Canadian Flag and to hell with the politically correct.

Great topic Ryan.
You left out one other thing in starting a business which has been the bane of my , and many other small businesses in the past several years.
Workers.
There are NO YOUNG WORKERS willing to get their hands dirty.
And with the govt handing out free cash like its water…..
I cringe at Trudeau and his elitist intellectual snobs and their socialist ideas of Universal Basic Income ( insert big Butz here).
They have crushed the work ethic in this country with this handouts.
UBI will be the “boot in the face forever” (as Orwell so eloquently put it) for small businesses.

#7 Don Guillermo on 07.31.21 at 11:33 am

#128 Sail Away on 07.31.21 at 9:36 am

A question: the grizzlies that now live on VI near Woss and Campbell River- native, natural expansion, or invasive?

https://globalnews.ca/video/2964714/grizzly-bears-appear-for-the-first-time-on-vancouver-island
*************************************

Everybody’s trying to get on that damn island. Must be senior bears

#8 Oakville Rocks! on 07.31.21 at 11:33 am

Great post Ryan.

Canada is a great place to start & run a business, all things considered.

Good luck to Donnie.

#9 Yukon Elvis on 07.31.21 at 11:33 am

Smoking Man is a barber now ?

#10 stuck by a lake on 07.31.21 at 11:37 am

Ya. Maybe government shouldn’t have shut down small businesses and let the Walmarts Costco’s and homedespots stay open. Because it’s safer to send everyone to form lines and pack the big box stores rather than allowing smaller places to stay open with less traffic. The incompetence of government never ceases to amaze you.

#11 crowdedelevatorfartz on 07.31.21 at 11:38 am

@#124 David Greene
“I have a quick RE question. I know someone who recently sold his house. The buyer was a realtor. I was kind of shocked when he told me that the buyer would get his half of the commission, even though he only brought himself to the table as a buyer.”

+++

Why are you asking Garth’s opinion?
Send a detailed email stating the property, the people involved, etc to the Real Estate board, the media, the govt….
Then sit back and watch the tree shake and how many apples drop.

#12 SW on 07.31.21 at 11:41 am

Good article!
I have acquaintances in my small town that are investing in new businesses, one did so in November last year.
I think they’ll make it.
And the BDC seem to have good reps around here. A lot of local businesses appreciate their advice and assistance.

As for the first comments, oh dear. People, get a grip. Just cos you can abuse the host’s patience doesn’t mean you should.

#13 crowdedelevatorfartz on 07.31.21 at 11:49 am

Yesterdays Financial Post

https://financialpost.com/executive/executive-summary/posthaste-canadian-businesses-say-they-cant-find-employees-because-applicants-are-lacking-these-crucial-skills

“Applicants are lacking soft skills”

Dependability ( yes you are expected to show up ON TIME EVERY DAY)

Flexability ( yes you may have to occasionally go to other jobsites to work rather than just one to improve your position)

Willingness to Learn ( self explanatory… sadly lacking with obstinate workers expecting constant praise and rewards for a “Good job” half done)

#14 Habitt on 07.31.21 at 12:12 pm

Thanks Ryan will do. I worked for small business people my entire working life. Was treated fairly and was always amazed at the work ethic. Little wonder most of us want nothing to do with it lol

#15 Sail Away on 07.31.21 at 12:16 pm

#7 Don Guillermo on 07.31.21 at 11:33 am
#128 Sail Away on 07.31.21 at 9:36 am

A question: the grizzlies that now live on VI near Woss and Campbell River- native, natural expansion, or invasive?

https://globalnews.ca/video/2964714/grizzly-bears-appear-for-the-first-time-on-vancouver-island

———-

Everybody’s trying to get on that damn island. Must be senior bears

———-

At 32,000 sq. km, VI is larger than Haiti, Israel, Belize, and Vermont. Plan 8 hours to drive from Swartz Bay ferry to Port Hardy.

Huge long-term potential.

#16 Ponzius Pilatus on 07.31.21 at 12:36 pm

Most of the Barbers here in the beautiful Lower Mainland are immigrants from the Middle East.
Hardworking, family oriented, very social.
But don’t mention Israel when sitting it the chair.
I’m not sure how the make a living cutting hair.
There’s a barber at every corner.
Mine charges 14 bucks for a 20 minute, very nice haircut.
Senior rate.
I always leave 20, and still feel it’s not enough.

#17 Don Guillermo on 07.31.21 at 12:47 pm

#15 Sail Away on 07.31.21 at 12:16 pm
#7 Don Guillermo on 07.31.21 at 11:33 am
#128 Sail Away on 07.31.21 at 9:36 am

A question: the grizzlies that now live on VI near Woss and Campbell River- native, natural expansion, or invasive?

https://globalnews.ca/video/2964714/grizzly-bears-appear-for-the-first-time-on-vancouver-island

———-

Everybody’s trying to get on that damn island. Must be senior bears

———-

At 32,000 sq. km, VI is larger than Haiti, Israel, Belize, and Vermont. Plan 8 hours to drive from Swartz Bay ferry to Port Hardy.

Huge long-term potential.

******************************

Have done the drive a few times. Lot’s of potential for more seniors —

#18 crowdedelevatorfartz on 07.31.21 at 12:48 pm

@#15 Sail Away
“Plan 8 hours to drive from Swartz Bay ferry to Port Hardy.”
++++

Ah yes Port Hardy.

Drove my motorcycle up there in 1983 to visit a friend.
The drive from Nanaimo to Campbell River on the old island highway was a painful “stop and crawl” experience to be avoided today at all cost.
I “pinned the throttle” in the Nimpkish Valley to see how fast that brand new CB900F could go……the speedo numbers maxed out at 155mph and it was about 10mph past that in the blank zone…. I was passing vehicles like they were motionless….insanity…but fun.

Got to Hardy in about 4 hours….just in time for supper.

#19 Ponzius Pilatus on 07.31.21 at 12:48 pm

#13 crowdedelevatorfartz on 07.31.21 at 11:49 am
Yesterdays Financial Post

https://financialpost.com/executive/executive-summary/posthaste-canadian-businesses-say-they-cant-find-employees-because-applicants-are-lacking-these-crucial-skills

“Applicants are lacking soft skills”

Dependability ( yes you are expected to show up ON TIME EVERY DAY)

Flexability ( yes you may have to occasionally go to other jobsites to work rather than just one to improve your position)

Willingness to Learn ( self explanatory… sadly lacking with obstinate workers expecting constant praise and rewards for a “Good job” half done)
——————————-
It’s good
#13 crowdedelevatorfartz on 07.31.21 at 11:49 am
Yesterdays Financial Post

https://financialpost.com/executive/executive-summary/posthaste-canadian-businesses-say-they-cant-find-employees-because-applicants-are-lacking-these-crucial-skills

“Applicants are lacking soft skills”

Dependability ( yes you are expected to show up ON TIME EVERY DAY)

Flexability ( yes you may have to occasionally go to other jobsites to work rather than just one to improve your position)

Willingness to Learn ( self explanatory… sadly lacking with obstinate workers expecting constant praise and rewards for a “Good job” half done)
—————————-
You ever ask yourself if your lack of soft skill is the problem, not your workers attitude.
The authoritarian style of managing is not working anymore, just ask any hockey coach.

#20 DON on 07.31.21 at 12:55 pm

#111 Upenuff on 07.30.21 at 10:19 pm
#106 Don
Hey did u hear they replaced a section of up and down ladders on the West Coast Trail with a 113 meter suspension bridge over Logan Creek. Making the trail a little easier.
____________________________________________

Old news, so now, so many ebikes on Whistler hardcore trails, (where regular semi pro riders bust a lung) to get up too and are now bumping into out of shape weekend warriors causing delicate trails to erode….. progress, hey pass that over here, I always eat when I’m depressed!
Upenuff

*****************

I had the same thought about making the West Coast Trail easier. I was Mountain biking in Whistler…I know what you mean. But making it up under your own power is much more rewarding. As for the trail …u still have to walk it.

#21 Brian Ripley on 07.31.21 at 1:00 pm

I have recently sold my real estate website and hobby blog http://www.chpc.biz/ after 16 years of trying to decipher various markets. Family matters are pressing and my time is going to be devoted elsewhere. I have updated all my charts with the June data.

The most recent updates are:

JUL 31 History & Readings – Pandemic Update 17th Reading – Global Deaths Up 7% M/M
JUL 20 Debt+GDP+FDI+NetTrade – Monthly Net Trade has been negative for 81% of last 12.5 yrs
JUL 20 Canadian Housing Starts ​- Alberta starts peaked in 2006 and are now 46% below that.
JUL 20 Employment & Unemployment Rates Provincial Changes Over 4 Decades – Alberta Outlier
JUL 20 History & Readings – Reader supplied Elliot Wave Analysis of the Toronto Housing Market

Many thanks to you Garth for your generosity.
Cheers, Brian

#22 Dr V on 07.31.21 at 1:13 pm

15 SA

“A question: the grizzlies that now live on VI near Woss and Campbell River- native, natural expansion, or invasive?”

I’ll go with natural expansion, though you could argue that man’s hand in climate change, resource extraction
and conservation measures potentially created
conditions for their migration.

Saw black bears almost daily on the north island when
I last worked there over 30 years ago. Did work on the mid-coast in the heart of grizzly territory for a spell, saw signs, but never confirmed if we met one – had a couple of “unknown” encounters in thick bush though

https://www.hakaimagazine.com/features/where-now-grizzly-bear/

#23 I'm Alright Jack on 07.31.21 at 1:15 pm

#128 Sail Away on July 30
Interesting that Grizzlies are invading the Island. Like the biologist says, probably brought on by a lack of salmon or other food on the mainland (certainly quite the swim – they wouldn’t do this for pleasure). Thanks for the link. I live in a place with both blacks and grizzlies and I don’t particularly like running into either.

If they do gain a hold on the Island it should be interesting for both the humans and other critters, like the deer and black bears. (And sorry for my ‘tone’ last night’s comment – a little fermented grape juice influenced.)

#24 Small_Biz_Ontario on 07.31.21 at 1:15 pm

It is worth mentioning the real guts of the business plan is the cash flow statement. Predicting cash flow is challenging but it affects all your other decisions. There is a reason a lot of businesses start in a garage rather than renting a $5,000 a month space immediately upon start up.

#25 DON on 07.31.21 at 1:36 pm

#129 Dharma Bum on 07.31.21 at 11:12 am
This particular bubble might be pricked soon, bet there are endless balloons behind it ready to be reinflated immediately.
As far as Canada is concerned there is no super appealing city to live in other that Toronto or Vancouver…

*************
We haven’t even dealt with the consequences from our current bubbles. Every Generation needs their own set of bubbles pricking to realize it can happen to them as well. From the ashes of these bubbles no doubt more will come. But we haven’t even dealt with the consequences of our current bubbles.

I thought that about big cities when I was younger…now I prefer smaller communities. The traffic in Vancouver and Toronto alone is enough to make me stay away.

#26 crowdedelevatorfartz on 07.31.21 at 1:43 pm

“Million could be evicted” starting Sunday August 1st…
just as the Delta virus starts to ramp up…..
Biden’s hands are tied due to a stalemate in Congress.

Hollywood couldn’t invent such inept political stupidity.

https://www.burnabynow.com/coronavirus-covid-19-national-news/the-latest-us-eviction-moratorium-ends-amid-virus-surge-4184296

#27 JMM on 07.31.21 at 1:44 pm

“Here’s what Canada’s business leaders think about heading back to the office”, CBC, July 31st.

Let’s see the closing sentence:

“If an employer cannot accommodate his workforce in 2021, for sure, [they] will see departures, people leaving the company.”

Music to my ears.

#28 Screwby do! on 07.31.21 at 2:06 pm

#127 Sheesh on 07.31.21 at 9:02 am
#121 “I thought people got the vaccine so that they didn’t have to concern themselves with being exposed to the virus.”

——————

You thought wrong. It’s to end the pandemic, which would be of benefit to everyone.

___________________________________

Funny though…. I just asked eight people why they got their COVID vaccine. Surprisingly (to you, i guess ), not one said it was “to end the pandemic.” I suggest you try the same experiment. Let me know what response you get.

That being said, every new COVID death will bring you closer to your goal of “ending the pandemic” as the only people left will be those that are vaccinated. If someone chooses not to take a vaccine, its their decision and they must deal with the outcome, good or bad….just as someone decides to smoke cigarettes. In fact, the moment people realize that only those that are unvaccinated are dying, you will see a huge uptick.

#29 BlogDog123 on 07.31.21 at 2:14 pm

The entrepreneurial spirit of the local barber shop is the exact opposite of T2 and his misfit crew of liberals…

Can we have someone as PM and finance minister who actually has accounting/management experience? Someone who is used to “making payroll”, making tough choices, budgeting… working with money they have, not just burdening future generations with debt…

Nope, instead we get someone with nice hair, $400B of new debt in a year or so, no plan to pay it off past 2070, spendthrift sunny ways to slosh spending to the next woke cause.

Who pays for all this foolery?
https://youtu.be/q3D8670smTI?t=16

#30 Ryan Lewenza on 07.31.21 at 2:15 pm

Keith “ Congratulations Donnie! You represent so much that is good about Canada, and the new citizens who are here to build and grow our country. Best wishes for success.”

Love this! I’m incredibly proud and grateful to live in Canada and it’s people like Donnie who help make this country one of the best places in the world to live. Living in Toronto you really get to see how multicultural Canada is and to me what really makes Canada so special. – Ryan L

#31 crowdedelevatorfartz on 07.31.21 at 2:17 pm

My my my.
The conspiracy theories for the assassination of Haiti’s President get more bizarre by the day.

A former Supreme Court Judge is implicated and has dissappeared.

Any chance she’ll pop up in Canada and request asylum?
In Canada’s current political anti racist, anti colonialist anti everything UN Rights agenda…..

It would take decades, if ever, to rid ourselves of her.

#32 crowdedelevatorfartz on 07.31.21 at 2:17 pm

https://nationalpost.com/news/world/haiti-police-say-former-supreme-court-judge-suspect-in-presidents-killing

#33 Nefarious Ned on 07.31.21 at 2:20 pm

I must have been sleeping under a rock for the past decade. I thought all that was required nowadays to start a business was a one or two syllable company name, a cool looking company logo, some mention of blockchain and ESG, an inept/inexperienced/greedy millennial CEO, and of course a huge stock options package for all of the CEO’s friends that would inevitably be hired before the IPO!

#34 BillyBob on 07.31.21 at 2:31 pm

#15 Sail Away on 07.31.21 at 12:16 pm

Plan 8 hours to drive from Swartz Bay ferry to Port Hardy.

Huge long-term potential.

—————————————————————-

Also plan 8 hours wait at Swartz Bay or any ferry terminal on/off the Island.

And budget a cost higher than a flight to Toronto if you’re taking a vehicle.

I’m sure it will get better in the future though with all that anticipated growth and the superbly competent, well-compensated management at BC Ferries.

#35 Cheese on 07.31.21 at 2:58 pm

Anyone need a dedicated, versatile, and eager employee in Ottawa? I enjoy actively learning new skills and working with people. I have a very broad skillset and enjoy studying STEM subjects, particularly engineering, physiology and medicine.

I can also operate a lathe…its been a while, but I can pick things up again quickly.

#36 Yukon Elvis on 07.31.21 at 3:04 pm

#29 BlogDog123 on 07.31.21 at 2:14 pm
The entrepreneurial spirit of the local barber shop is the exact opposite of T2 and his misfit crew of liberals…

Can we have someone as PM and finance minister who actually has accounting/management experience? Someone who is used to “making payroll”, making tough choices, budgeting… working with money they have, not just burdening future generations with debt…

Nope, instead we get someone with nice hair, $400B of new debt in a year or so, no plan to pay it off past 2070, spendthrift sunny ways to slosh spending to the next woke cause.

Who pays for all this foolery?
https://youtu.be/q3D8670smTI?t=16
++++++++++++++++++++++++
Those people have not been born yet.

#37 the Jaguar on 07.31.21 at 3:05 pm

@#21 Brian Ripley on 07.31.21 at 1:00 pm

Thanks, Brian for your contributions. You posted some really great stuff. Hope you will still be a regular contributor with comments.

#38 Jason on 07.31.21 at 3:24 pm

Would there be any differences with respect to liability in sole proprietorship vs incorporating? Ie would the business owner have more risk personally in one vs the other in the event someone tried to sue the business/owner? Or would only the assets of the company be at risk in either case? I realize you’d probably get some form of business insurance in both cases, just curious about any potential personal risk in either case.

It is a myth that incorporation shields a sole owner from liability. But accountants love the fees. – Garth

#39 Parksville Prankster on 07.31.21 at 3:36 pm

Some other considerations:

Who are your competitors?
How will you differentiate your services from them?
What is your cost of customer acquisition?
What are you marketing plans?
What is your cash flow plan for the next couple of years?
How do you plan to scale the business?
What is your velocity of capital?
What is the return on your capital?
What barriers to entry have you created that make your business difficult to duplicate?

To Summarize: don’t invest in businesses that don’t address needs; don’t trade time for money; don’t operate on a small scale; don’t relinquish control; don’t let the startup be an event instead of a process.

#40 Ponzius Pilatus on 07.31.21 at 3:51 pm

#26 crowdedelevatorfartz on 07.31.21 at 1:43 pm
“Million could be evicted” starting Sunday August 1st…
just as the Delta virus starts to ramp up…..
Biden’s hands are tied due to a stalemate in Congress.

Hollywood couldn’t invent such inept political stupidity.

https://www.burnabynow.com/coronavirus-covid-19-national-news/the-latest-us-eviction-moratorium-ends-amid-virus-surge-4184296
——————
So government helping struggling workers with CERB is bad.
But government helping struggling renters avoid evictions is good.
Make up your mind.

#41 Tarot Card on 07.31.21 at 3:51 pm

Thanks for the blog Garth
Thanks for the post Ryan
Could not agree more about starting your own business
I have noticed over my lifetime that immigrants make some of the best business people.
I have also seen throughout my life the best way to start a business is out of your home. Low overhead !
There are many examples but Lee Valley tools out of Ottawa demonstrates tremendous success after starting in his basement.
Here on paradise island in the pacific I have seen lots of people turn hobbies into businesses, everything from crafts to soap making.
My neighbour across the street has a private hair cutting business out of their home.
I wanted my own business all my life and ended up with a small home base business by sure fluke. And it’s perfect I work when I want and for whom. And no not reading tarot cards. Even though I have several friends that have businesses of tarot!

In conclusion, follow your dream nothing is stopping you!

No whales today but rain after 40 plus days of sunshine.

Have a great long weekend everyone!

#42 DON on 07.31.21 at 3:56 pm

They have been tracking the odd Grizzley bear near Telegrath Cove on the Island. Global obviously didn’t fact check.

Look at the map a chain of Islands to the mainland.

Apparently they can swim.

#43 Islanddave on 07.31.21 at 3:58 pm

There has been intermittent grizzly bear activity up around sayward and nimpkish for as long as I can remember, have personally seen one in the rock Bay Area and another in the sayward valley back in the eighties. My admittedly anecdotal take on the situation is they tend to be young bears swimming over from the mainland and they tend to swim back again at some point.
Are things changing… well it does seem like most things
are changeable these days.
I guess we’ll know in time

#44 Overheardyou on 07.31.21 at 3:59 pm

Any tips on starting a technology startup? Which structure should one pick and when? There will not be revenue for at least a few months while the product is being developed.

Also what if you onboard employees or co founders? Can stock options/equity be issued via a sole proprietorship?

Thank you in advance!

#45 crowdedelevatorfartz on 07.31.21 at 4:07 pm

@#19 Psychoanalyst Ponzie’s pedantic prevarications.

“You ever ask yourself if your lack of soft skill is the problem, not your workers attitude.”

+++++

It’s not just me and my “lack of soft skills”.
Foremen or Safety Officers I know on the jobsites…. Yelling at young workers texting as they walk under a crane lifting a load or standing texting as they block a dump truck that is backing up…oblivious to the dangers….
Yelling at them gets an immediate complaint to HR about “bullying”.

It will be interesting to see the conclusions of the Coroner after the Kelowna Crane collapse that just killed 5 young people.
One of them was texting and sending photos from the crane mere minutes before the collapse…..Think his mind was elsewhere other than his job?

No Ponzie the problem goes much much deeper.
Parents telling their kids “Good Job” for the past 20 years when they fail miserably at something or, giving “Participation Prizes/ribbons” just for showing up at athletic events has created an entire generation of kids who expect praise for doing a half assed job or nothing.

Zero accountability, zero repercussions, zero incentive to try harder…

I pay top dollar for my tradesmen and we give out company performance/profit sharing bonuses annually.
Some of the guys got 10 k bonuses this year on top of their 125k annual wages.

Time will tell who’s right and who’s wrong.
Just dont bitch and moan when you call for an estimate from a tradesman and the grubby, old, man who shows up and gives you a price that is through the roof because….there’s no one else qualified…….

#46 Flop... on 07.31.21 at 4:08 pm

Hi, unsuccessful immigrant here!

Talking about services and immigration, just got a letter in the mail the other day that our long-term Indo-Canadian tax accountants are retiring, and we need to find someone else to do our taxes next year.

In recent years our Chinese-Canadian dentist retired, Mrs Flop’s Chinese-Canadian family doctor retired and my Chinese-Canadian hairdressers building is up for sale, and she is talking about pulling the pin for retirement when that sale goes through.

Got many years of great service from these people, it’s a shame you lose their experience in retirement, but you wish them well and rest easy with the knowledge that they contributed to society in a meaningful manner since their migration.

Message for the guy at the Vietnamese Sandwich shop, please don’t retire, yet.

It’s my healthiest meal of the week…

M47BC

#47 macduff on 07.31.21 at 4:08 pm

After acquiring an MBA, I had a franchise business. I came to realize how challenging it is to have a business, even more so if the business isn’t some sort of franchise. My father had the dream of having an import business; I’m glad he didn’t follow through as I don’t think it would have survived. Business acumen is sparse among those whose dream it is to have their own brick and mortar business, and it doesn’t take much for the profitability to dip below zero in any given year, regardless of whether there is a pandemic. Trust me, this is a dream you may wish to put on hold.

#48 crowdedelevatorfartz on 07.31.21 at 4:15 pm

@#40 Ponzie’s Perplexed Predicament
“So government helping struggling workers with CERB is bad.
But government helping struggling renters avoid evictions is good.
Make up your mind.”

+++

Well, one involves the govt handing out free money which cost the govt billions…..the other involves the govt temporarily banning evictions which may cost landlords if the rent isnt paid….

I’ll let your razor sharp accounting skills determine which one will affect the average taxpayer in the decades to come.

A difficult decision for a pugnacious pedant I’m sure, but I think you have the skills.

#49 CJohnC on 07.31.21 at 4:19 pm

#21 Brian Ridley

Congratulations on the sale of your site. Your factual insights and comments have always been great. Wishing you continued success in the future.

Don’t be a stranger to this comments section, your opinions are always valued.

#50 Ponzius Pilatus on 07.31.21 at 4:21 pm

#29 BlogDog123 on 07.31.21 at 2:14 pm
The entrepreneurial spirit of the local barber shop is the exact opposite of T2 and his misfit crew of liberals…

Can we have someone as PM and finance minister who actually has accounting/management experience? Someone who is used to “making payroll”, making tough choices, budgeting… working with money they have, not just burdening future generations with debt…
————–
I’ve mentioned that quite often.
But here we go again.
The outgoing chancellor of Germany, Angela Merkel was leader of the 4th largest economy in the World.
She was voted in for 3 consecutive terms, and probably would have won again had she run again in this fall’s election.
She, like most leaders of the Western World incurred large deficits to fight the virus, and prop up the economy.
Let’s check what her qualifications are to run a large country successfully:
She has a PHD in Quantum Chemisty!
And she has the charisma of a lamp post.
Churchill was perfect for his time, but the voters did not think he had the skills to to-rebuild the country after the war.
Leaders come from all backgrounds, and have all kinds of skill sets.
I believe that running a country is a little bit more complicated than running am barber shop.
With all due respect to Donnie.
Personally, I think we had enough Lawyers and Economists as PMs in the past.

#51 Sheesh on 07.31.21 at 4:50 pm

#28 Screwby do! on 07.31.21 at 2:06 pm

Didja ask anyone under 40?

#52 Ponzius Pilatus on 07.31.21 at 4:54 pm

#47 macduff on 07.31.21 at 4:08 pm
After acquiring an MBA, I had a franchise business. I came to realize how challenging it is to have a business, even more so if the business isn’t some sort of franchise. My father had the dream of having an import business; I’m glad he didn’t follow through as I don’t think it would have survived. Business acumen is sparse among those whose dream it is to have their own brick and mortar business, and it doesn’t take much for the profitability to dip below zero in any given year, regardless of whether there is a pandemic. Trust me, this is a dream you may wish to put on hold.
————-
Unfortunately, I have to agree with you.
In the past, I did some accounting and business work for some smaller companies.
Most of them were on the verge of bankcruptcy and I did the work pro Bono (not the U2 guy) as my fees would have put them over the edge.
To make a long story short, many of them had no clue what they were doing.
I just leave it here. You can take the horse to the water, but you can’t make it drink.
For wannabe entrepreneurs, I suggest you watch Dragons Den.
Yeah, on the good old, reliable CBC.
Passion and work ethic is not enough if nobody wants your service/product.

#53 crowdedelevatorfartz on 07.31.21 at 5:00 pm

@#50 Perturbed Ponzies Paradigm. Political Perfection.
Re Angela Merkel…
” Let’s check what her qualifications are to run a large country successfully:
She has a PHD in Quantum Chemisty!
And she has the charisma of a lamp post.”

++++

You forgot one thing Ponzie…..she also has a brain…..unlike our vapid, vacuous, venal, video virtuoso ….Trudeau

#54 R on 07.31.21 at 5:12 pm

Most of China’s politicians are engineers. This may explain their longer term thinking and stratigic infastructure building . Just putting it out there.

#55 Sail Away on 07.31.21 at 5:17 pm

Re: grizzlies

Southeast Alaska has three big islands (Admiralty, Baranof and Chichagof) with lots of grizzlies, no wolves, and because of the lack of wolves, lots of deer.

We would hunt a week in August or September on one of them every year to stock the freezer, either boating over and anchoring in a bay, or floatplaning to shore. Early season most deer were in the alpine, so required a 5-6 hr hike up with camping gear and camp would be set up at treeline so food could be hung. First order of business was always a young deer for camp food.

The animal life in these alpines was like the Serengeti. From a good vantage, sometimes there would be 50 deer in sight at any time. Most griz were on the beaches for salmon but some were always around and would be on a gutpile within hours. They’ve used the same paths so long that sets of bear ‘stairs’ are worn inches deep in solid rock on the ridgelines.

So many animals. Spoils you for hunting that actually requires searching.

#56 Trudi Woods on 07.31.21 at 5:32 pm

That’s very good advice for those wishing to start a small business…there are so many cynics these days…if the naysayers were on social media after the 2nd world War never mind the dirty thirties or the Spanish Flu we most likely wouldn’t even have a country called Canada …I’ve met so many young people who started a business during this challenging time who just got on with it not knowing where it would go…to them it’s just what it is…

#57 Diamond Dog on 07.31.21 at 5:46 pm

Liked your post today Ryan, keep stacking ’em up.

#58 IHCTD9 on 07.31.21 at 5:55 pm

#45 crowdedelevatorfartz on 07.31.21 at 4:07 pm
@#19 Psychoanalyst Ponzie’s pedantic prevarications.

“You ever ask yourself if your lack of soft skill is the problem, not your workers attitude.”

+++++

It’s not just me and my “lack of soft skills”.
Foremen or Safety Officers I know on the jobsites…. Yelling at young workers texting as they walk under a crane lifting a load or standing texting as they block a dump truck that is backing up…oblivious to the dangers….
Yelling at them gets an immediate complaint to HR about “bullying”.

It will be interesting to see the conclusions of the Coroner after the Kelowna Crane collapse that just killed 5 young people.
One of them was texting and sending photos from the crane mere minutes before the collapse…..Think his mind was elsewhere other than his job?

No Ponzie the problem goes much much deeper.
Parents telling their kids “Good Job” for the past 20 years when they fail miserably at something or, giving “Participation Prizes/ribbons” just for showing up at athletic events has created an entire generation of kids who expect praise for doing a half assed job or nothing.

Zero accountability, zero repercussions, zero incentive to try harder…

I pay top dollar for my tradesmen and we give out company performance/profit sharing bonuses annually.
Some of the guys got 10 k bonuses this year on top of their 125k annual wages.

Time will tell who’s right and who’s wrong.
Just dont bitch and moan when you call for an estimate from a tradesman and the grubby, old, man who shows up and gives you a price that is through the roof because….there’s no one else qualified…
————

Yep. It’s affecting entire companies. A couple weeks ago, I was handed a job for work on a very high profile pc of Canadian architecture- without having to quote it. Blank PO. The customer didn’t trust any of their other suppliers to do the job. Same happened years back on an extremely high profile pc of US architecture. It’s not rare to still get a job even though we were well high of the lowest bidder.

You need good talent, and those guys who demonstrate it cost a lot. It’s not worth getting murdered by the WSIB and MOL because of an accident, or losing customers and getting sued due to product failure because of simple incompetence or negligence.

Trades are only going to cost more in the future, no one’s interested in sweating anymore. I’m going to enjoy watching it happen too.

#59 Nonplused on 07.31.21 at 6:38 pm

Ryan, what about franchisees? I think any time you buy locally, even if it is not a franchise but a big chain like Canadian Tire / Marks / Sport Chek, it is not as good as doing business with local business persons but at least some of the money stays in the community supporting wages. Even the local Subway is likely a franchise so even though the corporation skims up to 10% of revenue, the franchisee and his/her employees see some benefit.

Companies like Amazon of course employ local drivers and warehouse staff, but they have reduced their local footprint as much as is currently possible.

#60 Ponzius Pilatus on 07.31.21 at 6:58 pm

[email protected]
I agree with you on the points of lack of safety and commitment.
That’s why we need an apprentice system like in Germany and Austria.
In your first years, you learn discipline, get the lunch for the journeymen and Masters, clean the shop etc.
You get paid very little.
It is a privilege to work for certain companies.
You learn accounting, economics and math.
In essence, you train to open your own company later on.
This is a quantum leap from what we’re doing.

#61 Nonplused on 07.31.21 at 6:59 pm

PS, not to virtue signal, but I got my second jab today. The family is now fully vaccinated.

I tried to make an online booking with the pharmacy we went to for the first jab but the online booking was not to be found. Instead was a banner saying “now accepting walk-ins for covid-19 vaccinations”. So we just drove over. There was nobody there. We went straight to the desk, filled out the forms, and were out of there in 15 minutes for 3 people.

So, two points on this:

First, vaccine uptake is definitely waning. If you want one now, you can get one now. No booking out 3 weeks. Just walk in. What this means for achieving the percent vax Garth has often mentioned I don’t know, but if you want a vax it is no problem. Not like when they first came out and you had to wait for your age group and book weeks in advance.

I always said I wasn’t going to rush to try and be at the front of the line, and I didn’t. But there is no line and no excuse anymore.

Second, and this is more to Ryan’s post today, the pharmacy we went to is a small franchise located in a doctor’s office, but the pharmacist is the owner/operator of the franchise. He’s always there. He administered the jabs and did all the paperwork. I think therefore he qualifies as “local”, even though it is a franchise.

#62 Melanie Doyle on 07.31.21 at 7:10 pm

Apple, Google, Facebook, Amazon, Uber, Salesforce, return to work schedule:

https://www.instagram.com/p/CR1-AoXl7AM/?utm_source=ig_web_copy_link&fbclid=IwAR38gMfVSeeoiSujMMvVd4cPtWk15b83IcayG015QC3H1FuO957GH3EX05E

#63 Dave C on 07.31.21 at 8:50 pm

Starting a business in Canada is futile. Nothing but taxes and high operating costs. Trudeau’s carbon taxes etc

#64 Ryan Lewenza on 07.31.21 at 9:11 pm

Nonplused “ Ryan, what about franchisees? I think any time you buy locally, even if it is not a franchise but a big chain like Canadian Tire / Marks / Sport Chek, it is not as good as doing business with local business persons but at least some of the money stays in the community supporting wages. Even the local Subway is likely a franchise so even though the corporation skims up to 10% of revenue, the franchisee and his/her employees see some benefit.”

Franchises are still a local business in my view so no issues there. My preference is always for mom and pop shops but I’ll grab a coffee from Tim Hortons or an assorted sub from Mr Sub from time to time. The point is to shop at and support local shops in your community as much as you can. – Ryan L

#65 Sail Away on 07.31.21 at 10:06 pm

#58 IHCTD9 on 07.31.21 at 5:55 pm
#45 crowdedelevatorfartz on 07.31.21 at 4:07 pm

Just dont bitch and moan when you call for an estimate from a tradesman and the grubby, old, man who shows up and gives you a price that is through the roof because….there’s no one else qualified…

———

Yep. It’s affecting entire companies. A couple weeks ago, I was handed a job for work on a very high profile pc of Canadian architecture- without having to quote it. Blank PO. The customer didn’t trust any of their other suppliers to do the job. Same happened years back on an extremely high profile pc of US architecture. It’s not rare to still get a job even though we were well high of the lowest bidder.

You need good talent, and those guys who demonstrate it cost a lot.

———

Exactly. The above is the secret sauce: do good work, gain a reputation for it, and the majority of marketing will be done by word of mouth.

In my company, about 90% of contracts now come from sole-source work with existing clients. They know the product they can expect. The fee proposal is still required, but almost an afterthought.

We spend essentially nothing on actual marketing, but offer scholarships, pro-bono work, summer student positions and strong support to the local university’s engineering program.

#66 Stone on 07.31.21 at 10:41 pm

#52 Ponzius Pilatus on 07.31.21 at 4:54 pm
#47 macduff on 07.31.21 at 4:08 pm
After acquiring an MBA, I had a franchise business. I came to realize how challenging it is to have a business, even more so if the business isn’t some sort of franchise. My father had the dream of having an import business; I’m glad he didn’t follow through as I don’t think it would have survived. Business acumen is sparse among those whose dream it is to have their own brick and mortar business, and it doesn’t take much for the profitability to dip below zero in any given year, regardless of whether there is a pandemic. Trust me, this is a dream you may wish to put on hold.
————-
Unfortunately, I have to agree with you.
In the past, I did some accounting and business work for some smaller companies.
Most of them were on the verge of bankcruptcy and I did the work pro Bono (not the U2 guy) as my fees would have put them over the edge.
To make a long story short, many of them had no clue what they were doing.
I just leave it here. You can take the horse to the water, but you can’t make it drink.
For wannabe entrepreneurs, I suggest you watch Dragons Den.
Yeah, on the good old, reliable CBC.
Passion and work ethic is not enough if nobody wants your service/product.

———

Former commercial banker here. I will agree wholeheartedly with the above comments. In retail banking, 90% of people are approved for their financing. In commercial banking, 90% are turned down. Why? No experience and no skin in the game. Dreamers without a clue what they’re getting into for the most part. I would tell them, you want the loan, give me your house as collateral. Their response, No Way! I’m not going to risk my house! My response back was, if you don’t believe in your company enough to provide us with collateral, why should we believe in you? Come back when you’re serious.

The best part was when I suggested they go and work for someone running a similar business to gain experience, they’d laugh at me and say, what do you know, you’re just a banker. This is a surefire winner.

Sure buddy. Sure.

#67 IHCTD9 on 08.01.21 at 1:35 am

#65 Sail Away on 07.31.21 at 10:06 pm
#58 IHCTD9 on 07.31.21 at 5:55 pm

Exactly. The above is the secret sauce: do good work, gain a reputation for it, and the majority of marketing will be done by word of mouth.

In my company, about 90% of contracts now come from sole-source work with existing clients. They know the product they can expect. The fee proposal is still required, but almost an afterthought.
—— —-

That has become my #1 lesson in sales, get that good rep with your good customers. When I started out, I cold-called the hell out of everyone, and eventually built up a big customer base. As the years rolled on, I logically culled the heard. Late payers, headache producers, price-only job awarders – all got “regrets” for most of their their rfq’s.

My customer base shrank, but my sales numbers and profitability grew. I’ve only got a handful now, but we work hard for them, we almost always make shop rate, and they pay on time – every time. 75+ % of my customers quote using our numbers, and don’t shop our price if they get the project, they just send the PO. These are the guys you want to work for.

Unsurprisingly, these are tough jobs. Risk factor is high, and it’s where your reputation brings home the bacon. If you’ve got the talent, you can do this work – but you’ve got to pay for it. Experienced and professional tradesmen IMHO, translates directly into profits. No one ever put a pile-o-cash into the bank account by fighting to be the low-bid.

#68 What the ? on 08.01.21 at 1:50 am

Our family does our own hair now and it looks great so no more barbers. Also no more restaurants for us, we use meal kits now. Also WFH so we save on gas. We are saving thousands of dollars now thanks to Covid.

#69 TurnerNation on 08.01.21 at 2:51 am

Who, or what, is now Non-Essential.

https://www.ukcolumn.org/article/the-not-so-great-carbon-reset
“To this end, on November the 9th 2020, Sunak announced that the UK intended to issue its sovereign green bond. The UK government stated that they would be making TCFD disclosures mandatory for all businesses, to encourage investment in new technologies “like stablecoins and Central Bank Digital Currencies.” The UK government stated:

The UK will become the first country in the world to make Task Force on Climate-related Financial Disclosures (TCFD) aligned disclosures fully mandatory across the economy by 2025 … The UK will also implement a green taxonomy – a common framework for determining which activities can be defined as environmentally sustainable.”

#70 Nonplused on 08.01.21 at 2:53 am

#64 Ryan Lewenza on 07.31.21 at 9:11 pm
Nonplused “ Ryan, what about franchisees? I think any time you buy locally, even if it is not a franchise but a big chain like Canadian Tire / Marks / Sport Chek, it is not as good as doing business with local business persons but at least some of the money stays in the community supporting wages. Even the local Subway is likely a franchise so even though the corporation skims up to 10% of revenue, the franchisee and his/her employees see some benefit.”

Franchises are still a local business in my view so no issues there. My preference is always for mom and pop shops but I’ll grab a coffee from Tim Hortons or an assorted sub from Mr Sub from time to time. The point is to shop at and support local shops in your community as much as you can. – Ryan L

—————————————

So the hierarchy is:

Mom & pop shops
Locally run businesses even if mid to large sized
Franchises
Chains with a local footprint and employees
And lastly Amazon when you need something you just can’t get locally.

Unfortunately the last one (Amazon) is increasingly occupying a larger and larger space. Two things I bought recently on Amazon: A plumbing endoscope and a tube for a snow thrower tire. These are not things people buy very often, and sourcing them locally is difficult even in the big city. Should I drive all the way across town spending $12 on gas to hopefully find an in stock specialty tube for $24, or have Amazon deliver it in 2 days for $12, free shipping if you have prime?

Of course I could get a local small engine shop to fix the tire for $60-$80, but it still takes 3 days because they are ordering the tube on Amazon too. And I either have to bring them the wheel or the whole snow thrower. The wheel is easy enough. The whole snow thrower not so much.

#71 Canada's a leftist toilet on 08.01.21 at 5:14 am

The main reason so many SME fail is egregious taxation. The triple net lease is a stinking albatross around every business’ neck. Never mind govt loans ..try five year tax waivers? Look at Vancouver’s criminal tax regime that taxes businesses on an artificial zoning of what could be not what is. Taxation and Socialism keeps people poor and helps no one succeed.

#72 Steve french on 08.01.21 at 7:58 am

Showing a Canadian flag?

“How dare he?!”

Hasn’t he heard?

The Maple Leaf is a brutal symbol of oppression, genocide, colonial violence, death and destruction.

Quick– somebody cancel that hard working Canadian immigrant.

He must have done something wrong in his life.

“Show me the man and I’ll show you the crime”

– Lavrentiy Beria, Chief of the People’s Commissariat for Internal Affairs (NKVD), Soviet Union

#73 Shawn Allen on 08.01.21 at 8:07 am

Still showing True Grit at age 90

Forgive me for posting a link to my 90-year-old Dad’s Motel and Restaurant business. He worked daily on the property all this past year (and winter) moving earth and rocks by hand to smooth out a new walking trail. The municipality said don’t use machinery in this sensitive wooded area. He has built this property up since he started it in 1965. Despite working elsewhere full time many hours were spent physically building up this place ever since. (He did retire – that is drop back to one job a long time ago). The business came through COVID quite well only because of adequate capital on hand. Ryan is certainly right on the importance of capital.

This is in Cape Breton Nova Scotia.

Visit for a nice stay and or meal and feel inspired by a 90 year old working harder than probably at least 90% of us blog readers.

https://clansmanmotel.com/home/

Here’s to true grit!

#74 Ryan Lewenza on 08.01.21 at 8:26 am

What the f? “ Our family does our own hair now and it looks great so no more barbers. Also no more restaurants for us, we use meal kits now. Also WFH so we save on gas. We are saving thousands of dollars now thanks to Covid.”

From the savings on haircuts and gas, you should take the fam out for a meal at a nice local restaurant. The restaurant/staff will appreciate it and it will be a nice night out for the family. Win/win. It’s great to save money but you also need to live and enjoy life! – Ryan L

#75 Shawn Allen on 08.01.21 at 8:26 am

High leases a problem? Or opportunity?

#71 Canada’s a leftist toilet on 08.01.21 at 5:14 am said:
The triple net lease is a stinking albatross around every business’ neck.

******************************
Interesting. In reading the financial reports of the likes of RioCan I have been struck by how most of the costs and risks flow through to tenants.

I can’t do anything about it. But if someone is making good cash on RioCan from those leases I feel like it might as well be me. Is that unethical? If you can’t beat ’em, join ’em? Me or you owning shares in RioCan has zero effect on the tenants since someone WILL own those shares. Part of a D and B portfolio…

#76 Mike on 08.01.21 at 8:38 am

As always, love the blog. But with all due respect, the most important benefit of incorporating is that the business becomes a separate legal entity so that the owner’s assets can’t be touched and he\she generally can’t be sued for actions of the company. Unless you are running a lemonade stand, incorporate.

That is incorrect. If someone sues a business rest assured they will also name the owner. Case law shows entrepreneurs cannot escape liability with a corp they alone, or with family members, control. – Garth

#77 crowdedelevatorfartz on 08.01.21 at 10:14 am

@#60 Ponzie
“In your first years, you learn discipline, get the lunch for the journeymen and Masters, clean the shop etc.
You get paid very little.
It is a privilege to work for certain companies.
You learn accounting, economics and math.
In essence, you train to open your own company later on.
This is a quantum leap from what we’re doing.”

++++

Sadly.
Those days are long gone.
The little darlings of today will sneer at you if you even suggest they might actually sweep the filthy shop floor.
Most dont last a week.
The rare one lasts a month.
At the end of a job I pulled a pile of extension cords out of the van and started to lay them out to neatly coil back up.
As I started to wrap one up I ask a 20 year old kid that was standing there watching me….. to help coil up the cords.
“Whats coil mean?”
I look at him in disbelief as I was wrapping the cord in an untangled circle.
“Wrap them up in a neat bundle like this.”
He struggled and fumbled and eventually ended up with a cord that was a tangled mess.
Worse than before.
“Like this?” he asked proudly.
“No, unravel it, stretch it out, and do it again.”
You would have thought I had kicked him in the goolies.
And that kid was getting paid $25/hr

There is a huge reset coming and these kids will look back at the good old days when they were paid well for doing as little as possible.

#78 Rational Human Being on 08.01.21 at 10:19 am

Not sure what Dharma Bum is on about… Obviously this person just isn’t smart enough to start a business themselves and decides to take their tiny baby rage out on other’s success. Especially that last comment… personal attack on the business owner for no reason? No dharma in life I guess… just a bum sitting at the computer….

#79 Steven Rowlandson on 08.01.21 at 10:19 am

Ryan since when do the powers that be really want small businesses? For government these grubby little entities need to be policed and taxed and as soon as regulations and taxes become too onerous the romantic businessmen or tradesmen cheat for a while and go out of business and start up under a different name or disappear altogether. As for big business they view mom and pop operations as potential or real competition and therefore a sin. Something to be disposed of via various forms of legal action or reform and may be a buy out. Small business is for many just a means of making income without having an employer. Some actually try to grow the business into some thing bigger and at that point they need their own bureaucracy to deal with other bureaucracies. Some times that works and some times it does not. The vaccination campaign and lockdowns will undermine and destroy a lot of small businesses through market disruptions , imposed consumption of capital during lock downs and the death of business people and skilled workers due to the vaccines causing massive production of the spike proteins resulting in blood clot, prion and auto immune related disorders.
Nasty stuff indeed… In the age of tyrants in ancient Greece according to C.S. Lewis one tyrant demonstrated how he ruled. He went into a grain field and lopped off the heads of grain that grew higher than the rest and none were greater than the tyrant. The lesson for the other tyrants was obvious. The bulk of the people were to be kept all equal ,all nobodies, poor and enslaved while the elites reigned supreme with no real competition save themselves. Today we are creeping up on that state of affairs slowly and surely just like a snake hunts a mouse. The snake will be fed because the mouse for the most part has no idea that he is on the menu.

#80 TurnerNation on 08.01.21 at 10:27 am

For our health. And free advertising too.

https://finance.yahoo.com/news/pfizer-moderna-raises-prices-covid-114025030.html
Aug 1 (Reuters) – Pfizer Inc and Moderna Inc has raised the prices of its COVID-19 vaccine in the latest European Union supply contracts, The Financial Times reported https://on.ft.com/3j8mbTb on Sunday.

The new price for the Pfizer shot was 19.50 euros ($23.15)against 15.50 euros previously, the newspaper said citing to the portions of the contracts seen.

#81 Dr V on 08.01.21 at 10:53 am

My barber is prettier than Ryan’s barber.

#82 Dr V on 08.01.21 at 10:59 am

“Case law shows entrepreneurs cannot escape liability with a corp they alone, or with family members, control. – Garth”

Exactly As advised by every banker, insurer and lawyer I have dealt with.

#83 crowdedelevatorfartz on 08.01.21 at 11:10 am

Well.
Must be an election pending.
The Liberals just appointed 5 new Senators.

https://lop.parl.ca/sites/ParlInfo/default/en_CA/People/Salaries

$161,000 per year…until they retire at 75

And dont forget they have staff, offices, planes, hotels, etc etc etc
They are allowed $160,000 per year for office expenses(staff, etc)
$22,000 per year “hard ship” allowance if they live 20kms from downtown Ottawa (Remember Mike Duffy)
Free VIA Rail Pass for them and their families.
Free Air Canada flights for business related travel.
On and on and on.

And then there are the juicy pensions …..oh those juicy pensions…after 6 looong hard years at the trough rubber stamping votes…..people need to take the rest of their life off to “recover” from the stress of 6 years of wok.
Senators “qualify” for a full pension after 6 years.

Pensions are at a minimum of $100,000 per year.

5 more senators at the trough.

Thank Trudeau and the Liberals for perpetuating a disgusting, wasteful, venal, obscenity that is the unelected, bloated, billion dollar baby… the Canadian Senate.

Remember this at election time.

#84 crowdedelevatorfartz on 08.01.21 at 11:18 am

@#73 Shawn Allen.

Shameless plug for Pop’s Clansman Motel aside.

Do the hiking trails run from the environmental zone down to the Tar Ponds Park?

P.S.
The University of Simon Fraser just changed the name of their football team from “Clansmen”….apparently it’s too racist for the intellectually, and historically bereft emancipated politically correct that cant spell.
Klansman( Southern U.S. racists) vs Clansman ( Scottish families)

#85 Saul on 08.01.21 at 12:04 pm

I would say globalism for years has been a lockdown+pandemic by at least 5 times. Add the NDP, Liberals everywhere from BC, Ontario etc. provincial and now federally they are destroying small businesses. I would say they want less small businesses so they have to work and be dependent on government and corporations more and more. Most corporations are not capitalists but corportists.

#86 Damifino on 08.01.21 at 12:17 pm

#84 crowdedelevatorfartz

The University of Simon Fraser just changed the name of their football team from “Clansmen”….apparently it’s too racist for the intellectually, and historically bereft emancipated politically correct that cant spell
——————————–

In this particular case, I though it was a smart move. The team sometimes plays in the Southern USA. They got tired of explaining the origins of their name to the locals. In that neck of the woods, it the means same thing no matter how you spell it.

#87 Sail Away on 08.01.21 at 12:52 pm

#76 Mike on 08.01.21 at 8:38 am

As always, love the blog. But with all due respect, the most important benefit of incorporating is that the business becomes a separate legal entity so that the owner’s assets can’t be touched and he\she generally can’t be sued for actions of the company. Unless you are running a lemonade stand, incorporate.

‘That is incorrect. If someone sues a business rest assured they will also name the owner. Case law shows entrepreneurs cannot escape liability with a corp they alone, or with family members, control. – Garth’

———-

Yep. There are also people and companies who sue for profit. It is critical when considering new clients to look into their history. If a laundry list of legal actions shows up, well, we’ll probably have too much work on the books, but might suggest they try [nemesis].

#88 Sail Away on 08.01.21 at 1:15 pm

Watch repair. Attention to detail and competence:

https://mobile.twitter.com/AdilNajam/status/1406464401868218374

#89 crowdedelevatorfartz on 08.01.21 at 1:22 pm

What was we were saying about Kelowna the other day…..

Its like Surrey only on a Lake….

https://theprovince.com/news/crime/two-men-injured-following-targeted-shooting-in-kelowna

Nothing like a gang related shooting to emphasize the similarities….

#90 salonist on 08.01.21 at 1:31 pm

a business plan is ok
knowing people in the right places helps
having a unique skill set will set you apart
a good shoe shine box, will make you a robust dollar anywhere

mr bill
i knew him from bay st toronto
immaculately dressed
groomed
we are waiting for the elevator and all get on
i stand back
cause, on the journey up or down
mr bill, standing there, unassuming,face forward
without a sound, the elevator is engulfed in the most foul odor
once i had entered the elevator

#91 crowdedelevatorfartz on 08.01.21 at 1:34 pm

@#86 Damfino
The team sometimes plays in the Southern USA. They got tired of explaining the origins of their name to the locals. In that neck of the woods, it the means same thing no matter how you spell it.”

+++

True enough considering that most University students in the Southern U.S. couldnt find Canada on a blank map even if you offered them $1000 cash

#92 Clean up aisle #87 on 08.01.21 at 2:09 pm

Garth, apparently a sicko got through your moderating.

Now deleted, thank you. – Garth

#93 crowdedelevatorfartz on 08.01.21 at 2:29 pm

While I’m noticing Single Family homes that are For Sale sitting for months…..

I’ve spotted two home on my commute that had “Sold” signs put up over the for sale….. and then several weeks later…taken down and the “For Sale” sign is back up.

Financing falling through or second thoughts?

#94 espressobob on 08.01.21 at 3:31 pm

As one who’s been self employed for decades, all I can say is, you don’t own your own business as much as it owns you.

#95 Planetgoofy on 08.01.21 at 5:00 pm

Ryan,
These type of people (Donnie) take risks and that’s what made this nation GREAT and it is the back bone of what we are…or were.
The government operates exactly the opposite way.
ie no accountability what so ever for anything…AND their Endless money that is created from thin air. They dont care its not their ass…
Never ending raises, expense accounts ect ect. lip service BS on everything.
So I’ve owned a few business’s and had great successes because of the industries I was in. (telco network building cell phones was one)
If you fail in your biz you get booted to the street. No dental, medical, paid holidays, sick days, on and on… ya wonder why I have no respect for the pigs at the trough…
Gov = parasites and have you EVER seen a politician jailed for a conflict or theft??! NEVER
I’ve personally shut down one biz and just run my rentals now.
Make less = pay less tax….Got plenty to live off of.
Use everything possible as a biz expense….
Shout out to ALL entrepreneurs that MADE this country!!
NOT The gov (parasites) never end ending tax hikes and inflation thanks to OUT OF CONTROL SPENDING.

#96 Planetgoofy on 08.01.21 at 5:12 pm

People in general have no clue to the world they live in.
All governments lie and about everything…its all about the next 4 years….
As a tech / engineer and a mechanic for 30 years….
Here a smart guy. Know the hand your playing into.
https://edwardsnowden.substack.com/p/ns-oh-god-how-is-this-legal

#97 Planetgoofy on 08.01.21 at 5:25 pm

Crazy guy says. “the budget will balance is self” lol
Can yo IMAGINE if a small business person had the ignorance of a stupid guy like T2? You would be bankrupt in a month.

#98 Mike on 08.01.21 at 7:06 pm

No Garth, it is not incorrect. Piercing the corporate veil and reaching the shareholder as you are referring to would be possible only in rare situations such as where the shareholder has used to Corp for a fraudulent or improper purpose (most business owners aren’t doing that). You can certainly name the shareholder when you sue the Corp but that doesn’t mean it will work. In the ordinary course the owner is therefore “generally” protected. That’s law school first year stuff. It’s great you are trying to educate people on basic law for starting a business though.

#99 Billy Buoy on 08.02.21 at 12:38 pm

Really looks like Interest rates are going UP soon? LOL.

Starting PRINTING CB’S to SAVE THIS LIE.

Market meet cliff….