March 20, 2020
Support Small Business During COVID-19 Pandemic

Who employs Canadians?
When we hear ‘Small Business’, we do not think BIG but we should. In Canada ‘Small Business’ is not small at all- in fact ‘Small Business’ is the ‘Big Business’; here are some Canadian ‘Small Business’ Stats:
- Comprise almost 98% of all Canadian businesses
- Employ over 8 million Canadians
- Employ 70% of the total private-sector labour force
WHAT IMPACT DOES COVID-19 HAVE ON SMALL BUSINESS AND THE ECONOMY?
Let’s take a look at the most common financial concerns for a small business in the midst of COVID-19:
- Employees. A 5% change in employment across all Canadian small businesses would see 400,000 individuals unemployed or roughly 35% of the current number unemployed (1.1 MM) pre COVID- 9. With small businesses closing, reducing hours, and shifting more to online retail, in order to survive, we could see a dramatic increase in unemployment that will have a lasting effect on our economy.
- Where does a business do business? If a business has an office, retail location, or other tenant leases they will likely be obligated to continue to pay lease expenses no matter how bad the COVID-19 pandemic. The discussion between tenants and landlords needs to be transparent; self-awareness by tenants and client awareness by landlords will make for collaborative long-term solutions. Put in simpler terms collaboration could be the difference between a tenant or no tenant for landlords.
- Liquidity. Think inventory, accounts payable and accounts receivable. How quickly can you convert a product, service, or obligation to cash or defer to preserve cash? Are you going to get paid by your customers and can you pay your suppliers on terms agreed upon? The ability to get liquid (get to cash) has implications for every business when sales slow down materially- in today's environment, it can be the difference between being able to maintain employees, cover operating costs, or even whether a business survives or not.
WHAT CAN WE DO TO SUPPORT SMALL BUSINESSES?
Below are a couple of ways we can support the major contributors to our economy, please add to this article on additional ways we can help small businesses through the COVID-19 environment.
- Ask the small businesses you frequent what you can do for them. Many will have a plan in place or an alternative way they will operate.
- Be an advocate. Promote your favorite small business, why do you like it, a story about the entrepreneurs/employees, leave reviews, promote on social media. Advertising expenses will be cut, do your part and take on a bit of the responsibility.
- If a store is still operating online or offline buy a bit more than you usually do if you are going to buy the goods anyway in the future.
- Gift Cards. As liquidity is a concern broadly across the small business this helps immensely with getting through the immediate period.
In a time where social distancing is paramount, it is vital we act as a community to support Canadian small businesses. Our community is www.buyertise.com- a community that supports small businesses that are looking to sell their business, business brokers, and those interested in buying a business.
PLEASE provide your thoughts on additional ways we can SUPPORT SMALL BUSINESS.
December 09, 2019
The Greta Effect and Environmental Responsibility > How it Impacts your business sale

In no time in recent history has the discussion about 'climate change' been so prevalent. This is a bold statement but look no further than google trends and type in ‘climate change’ and the following is the result. The purpose...
September 29, 2019
To Sell or Not to Sell

How to factor in all the risks in timing the selling of your business David was never known as someone who had trouble making decisions, but here he was, swinging in the breeze like a wind chime about whether or...
September 23, 2019
How to Finance the Business You Want to Buy

You may have made it past all the other checkpoints, but if you’re unable to secure financing for the business you want to buy, your journey ends there. In my article, How to Choose One Business Over Another, we looked at...
July 15, 2019
3 key items to think about when you are selling your business

So often in thinking about selling a business we think about the ‘Process of Selling a Business’, ‘Am I ready’, or ‘Do I have the right Broker’. It is easy to lose sight of a couple of key items in...
July 15, 2019
An Example of the Sales Process of Selling a Business

There are various approaches to selling a business and the following will provide one framework that is typical. The purpose is to help potential sellers understand the process and to assist in the questions you may have as they begin...
July 15, 2019
Considerations when choosing a Business Broker (how should I select)

Business Brokers are looking for ‘qualified sellers’- those whose business is in good order, financially sound, and in demand by prospective buyers. At the same time potential sellers should also look to ‘qualify’ business brokers or agents. Here are a...
July 15, 2019
Sellers Discretionary Earnings >>> What is it and how do I calculate?

You have likely heard about Sellers Discretionary Earnings (SDE) but what is it? In practical terms think of SDE as the following: What does a business owner take home or how much ‘benefit’ and income do they make on an...
July 15, 2019
Sell your Business by Yourself or with a Business Broker/Professional

Should you use a business broker or agent to sell your business. The following ten questions will provide some perspective if you should be thinking about ‘going it alone’ or working with a professional to represent your business for sale;...
July 15, 2019
Selling my Business – How do I start?

You’ve decided that you want to sell your business. You may not know when you want to sell it or how you’re going to sell it but you want to begin the process of understanding how do I sell my...