Encouraging Spring Growth for your Business

Spring is a time of new beginnings and growth.  Much like a garden, your business can benefit from a little bit of extra care this time of year.  I encourage you to sit down and take a good look at your business. It does not matter if you are an independent business or a business with 50 employees, it's important to know your business inside and out.  Here are a few things to keep in mind while tending to your business: 

Your business taxes – Taxes are on the top of people’s minds during the spring, as the income tax deadline just passed on May 1.  Now that that rush is over, this is a great time to sit down and make sure that everything for your business is in order with Canada Revenue Agency.  If you are a new business, review the CRA Checklist for new small businesses »

Your Staff – People are one of your most important assets.  Making sure that you have enough staff is crucial to your business running well, especially if your business experiences increases in seasonal traffic.  For example, many restaurants and stores hire seasonal staff in the summer months to help keep up with the busier time of year.  If you have noticed trends around when you are busiest, perhaps this is an opportunity to hire seasonal staff.

Staying organized – As a business owner, you are juggling multiple priorities.  Staying organized will make it easier to stay on top of everything, resulting in an even better run business.  By keeping organized you will also be able to prioritize things that add the most value to your business.

Inventory – If you are an inventory or stock based business, it is important to know how much product to have on hand at any given time.  Much like when you are planning a garden, you want to make sure that your products have space to be seen, without crowding each other.  Alternatively, you also do not want the shelves to be empty. Evaluate past seasons to help you decide what you need.

Your space – The coming of spring helps shed new light on things.  Use this opportunity to evaluate your space with fresh eyes.  Leasing space is often priced by square footage, make sure that you are using your space in the most efficient way possible.  If you feel like things could be improved, try re-arranging the space.  If that does not help, perhaps it is time for a move.  Depending on your situation, it could be time to weigh your options between leasing and owning. Read about the pros and cons of each »

The spring is an excellent time to make sure that your business is running as smoothly as possible.  If you have any questions about any of the things here or other ways to maximize business, email us at info@cua.com.

Revised Jul. 20, 2021

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