October 2024 Poll

Yes, 100% so many clients and people within my circle, will say: I have been thinking about opening a business do you have a few minutes to talk about this? As a tax specialists, I have this opportunity to help new business owners from the very start with the best tax direction, what accounts are required with CRA, a budget, business name and registration, organization, and paperwork mountain that they will soon encounter. Many clients come to me after the fact, of setting up their business,  and receipts are missing, or their prior tax preparer never asked questions, and or they were not explained tax advise that would help them. They have a dream and “wing it” which means they travel down the learning road a little longer. We need our small business owners,  new and established and to work with them on the best tax outcome. Tax Busters offers small business set up and tax filing, and as a small business in my community this has become very magnetic.  I spend a great deal of my time on how can I help the small business owner, they all have patterns of behavior so it is an opportunity to help find solutions to patterns, so they are less stressed, more successful and this builds community strength.
Many clients will say, I have a small business but it is only $8000 a year or $23,000 a year. I look at them with pride on how this additional income coming in has many benefits not only to supplement their income, develop ang grow their talent, but they offer a service, and a need in our community, and this is the big picture how we all benefit from the success of our small business owners. 

By Ann Laurin on October 27, 2024

Being interested in starting THE business is different from actually doing that. The cost of establishing and marketing is high and if you add to this the legal bureaucracy and cost of running it the realty looks blurry.

By krystyna on October 23, 2024

I am in the minority here. I absolutely disagree. I feel the general consensus is that entrepreneurs work too hard for too little with the added bonus of having to deal with CRA. I am a serial entrepreneur and my children will never work for themselves. It is true that many are seeking a side hustle or ways to make a little extra money to keep up with inflation, but there has got to be a bit more before this is a business.

By Holly Atwood on October 16, 2024

Yes.  As tax and business consultant, I am receiving more request from Canadians who already have a full-time job, to want to supplement their income with their own business.    Usually it is in the same area of expertise that they are currently working in.  The idea that I am hearing is that those clients eventually want to go on their own, without having an employer to contend with, and of course want to have more liberty and pursue opportunities that better suit their wants and needs.

On another note:  many clients also want to start their own business to supplement their current employment income which no longer is capable to provide them with the lifestyle they were accustom to prior to the significant increases in the cost of living we are currently witnessing.    Starting their own business (most want a home-based business) can help alleviate the current financial stress they are experiencing these days and can be a doorway to better living.

By Gaetan Ladouceur on October 16, 2024

I believe that people think this is a good idea to make money, however
in order to make money you must work very hard, and sometimes long hours.

By SUSAN Y MACKIE on October 09, 2024

I think that more people are looking to supplement their incomes due to the higher living costs.

By Tammy Machan on October 03, 2024

Yes I think there are more people who want to start a business. somehow we need to get the message out that it is not just as simple as having limited capital and signing up for an accounting software.

By Sandra Gibbs on October 02, 2024

I think that more Canadians are thinking about starting their own business because there is an issue securing regular employment.  If one cannot find a job, then try to create one.  Also, younger adults are rejecting the traditional format of work weeks and hours, etc., and believe they can better manage home/ work responsibilities if they are the boss.  Sadly, a lot of these folks do not have the expertise to run a company and may run into difficulties. That’s where I come in :)

By Robert on October 02, 2024