Strong financial skills are key to running a successful business—yet many entrepreneurs feel uncertain when it comes to their numbers. This article from BDC highlights why improving your financial literacy can lead to better decisions, greater confidence, and long-term growth.

In this article, you’ll discover:

• The importance of financial literacy for Canadian business owners
• Common financial challenges entrepreneurs face
• Tips and tools to build your financial knowledge
• How understanding your finances supports smarter business decisions

Whether you’re just starting out or looking to strengthen your financial foundation, this article is a valuable read.

The post Entrepreneurs and Financial Literacy: The Situation in Canada appeared first on WeBC.

As a woman entrepreneur in manufacturing, you pour your heart and soul into creating exceptional products. But are you pricing them for true profitability? Don’t leave money on the table. Our free guide, “Pricing for Small Manufacturers,” demystifies pricing strategies, helping you confidently set prices that reflect your value and secure your business’s future. Download it now and take control of your bottom line.

Key Learnings

• Calculate Your True Costs: Learn how to accurately account for materials, labor, and overhead.
• Understand Your Market: Identify your target audience and analyze competitor pricing.
• Implement Effective Pricing Strategies: Discover proven methods like cost-plus, value-based, and competitive pricing.
• Set Profitable Price Points: Determine the optimal price to maximize your margins.
• Avoid Common Pricing Mistakes: Prevent underselling and ensure sustainable growth.

Download the guide and start maximizing your profits today!

The post Pricing For Small Manufacturers appeared first on WeBC.

Are you a woman entrepreneur running a small retail business seeking clarity in your pricing strategy? This insightful guide provides 52 key questions designed to navigate the complexities of retail pricing, from understanding markup and crafting a strategic approach to making necessary adjustments. This resource empowers you to make confident pricing decisions, whether you’re launching a new store or refining your existing pricing policy.

Why this guide is invaluable:

• For New Retailers: Gain essential insights and navigate initial pricing decisions with clarity.
• For Established Businesses: Periodically review and optimize your pricing strategy to ensure continued profitability and growth.
• Comprehensive Coverage: Explore every aspect of pricing, from calculating markup to implementing effective pricing strategies.
• Strategic Questioning: Gain clarity and confidence in your pricing decisions through targeted probing.

Download the guide with 52 essential pricing questions and take control of your retail profits today!

The post Pricing For Small Retailers appeared first on WeBC.

Choosing accounting software isn’t just about features – it’s about finding a tool that fits the way your business works. Whether you’re just getting started or growing fast, your accounting system plays a key role in managing cash flow, staying compliant, and making confident decisions.

This practical guide is designed for Canadian entrepreneurs and their bookkeepers. It walks you through the key considerations, helps you assess your needs, and compares leading software options so you can make an informed, future-ready choice.

What You’ll Learn

• How to assess your business’s accounting needs
• What key features to look for in a software program
• Budget and deployment options to consider
• How to evaluate tools with your accountant or bookkeeper
• A checklist to guide your decision
• A list of popular Canadian software options

Who This Resource Is For

• Entrepreneurs starting or growing a business
• Bookkeepers supporting small and medium-sized companies
• Nonprofits, freelancers, or incorporated professionals
• Anyone looking to switch accounting software with confidence

Take the guesswork out of choosing accounting software. Download the guide to understand key considerations when evaluating your options.

The post Choosing Your Accounting Software Program appeared first on WeBC.

Starting or growing a business takes more than a great idea, it also takes capital. Whether you’re launching a new venture, expanding operations, or managing cash flow, understanding your financing options is critical to making informed decisions.

This free downloadable guide from WeBC provides a comprehensive overview of business financing options available to women entrepreneurs in British Columbia.

What You’ll Find Inside

• Types of Business Financing: Learn the differences between debt financing, equity investment, and alternative funding sources.
• Preparing to Apply: Discover what lenders and investors look for, and how to strengthen your financing proposal.
• Funding Directory: Access a curated list of financial institutions, loan programs, grants, and investment resources.
• Financial Planning Tips: Explore guidance on building your budget, forecasting, and managing risk.

Who Should Use This Guide?

• Women exploring entrepreneurship for the first time
• Business owners looking to scale or pivot
• Anyone seeking clarity on how to finance a business in today’s market

Important Note: This guide is not an exhaustive list of funding options. It is designed to help you get started, but we strongly encourage you to conduct your own research and seek professional advice to determine the best financing path for your business needs.

Gain the confidence and clarity you need with our free on-demand SMART course, “Financial Fitness: Keep Your Business Financially Healthy“. This practical course will help you understand your numbers, make informed financial decisions, and strengthen your business for long-term success! Learn more >>>

The post Financing your Business appeared first on WeBC.

Profit isn’t just about how much money you make—it’s about what you keep. Whether you’re just starting out or looking to fine-tune your operations, this fillable PDF resource will help you take a closer look at the factors that influence your bottom line.

What You’ll Learn

• The difference between revenue, profit, and cash flow
• How to break down your business expenses and find cost-saving opportunities
• Practical ways to increase sales without overspending
• How to set realistic, profit-focused goals
• Action steps you can take today to improve your margins

Why This Matters

Improving profitability doesn’t always mean working harder—it means working smarter. By completing this worksheet, you’ll gain insight into the key drivers of profit in your business and identify where small changes can lead to big results.

Who It’s For

This guide is designed for entrepreneurs and small business owners who want to:

• Better understand their business finances
• Make informed decisions with confidence
• Create a more sustainable and profitable operation

The post How to Improve the Profitability of Your Business appeared first on WeBC.

Take control of your business finances with our ready-to-use Excel template for income statements and balance sheets. Easily track revenues vs. expenses and assets vs. liabilities to gain a clear view of your financial health.

Want to go further?

Gain the confidence and clarity you need with our free on-demand SMART course, “Financial Fitness: Keep Your Business Financially Healthy“. This practical course will help you understand your numbers, make informed financial decisions, and strengthen your business for long-term success! Learn more >>>

Questions?

Our Client Services team is ready to guide you every step of the way.

The post Income Statement and Balance Sheet Templates appeared first on WeBC.

Grants come in many forms – from tax credits to incentives and project funding. Yet, finding the right ones for your business can be confusing, and the application process can be time consuming.

In September 2024, WeBC partnered with Pocketed to give an overview of the grant landscape and help you understand where to invest your time to access ‘free’ money.

In this session recording, you’ll learn:

• How to navigate the funding landscape and leverage opportunities for your business projects.
• The distinction between fundable and non-fundable activities.
• How to determine your company’s eligibility for funding and identify the most suitable program opportunities.

Facilitator: Cathy Burrell, WeBC Client Service Coordinator

Panelist: Brianna Blaney, CEO & Co-Founder of Pocketed

The post Demystifying Grants for Small Businesses appeared first on WeBC.

“Financial Fitness” is part of our SMART Program series, so you you can work through the content on your own schedule on our On-Demand Learning Platform. The course is designed to help you understand key concepts, work through interactive case studies and complete activities that apply the learning to your own business.

About the Course

When your business is financially healthy, many other aspects of your business become stronger. You can feel more confident making decisions, applying for funding opportunities, or hiring new staff to free up your time.

This self-paced module, created by WeBC, contains the tools, tips, and resources you need to help you feel in control of your finances, achieve your goals, and set your business up for success!

This interactive on-demand learning module includes three chapters:

• Chapter 1 | Understanding Your Finances
• Chapter 2 | Your Business Finances
• Chapter 3 | Financial Management

This course will be available in English and French.

Thanks to funding from the Government of Canada’s Women Entrepreneurship Strategy, this program is currently free!

Learn more >>>

The post Financial Fitness: Free On-Demand Course appeared first on WeBC.

If you tend to default to building your business with your own savings, you’re not alone. According to a recent study by Women’s Enterprise Organizations of Canada (WEOC), 88% of women entrepreneurs feel confident managing their business finances, yet 78% hate owing money and 62% take pride in building their business without external sources of money.

There are times when it makes sense to self-fund your business, and there are times when it makes sense to leverage other peoples’ money.

Our Senior Director of Loans & Advisory Services, Melanie Rupp, will explore these different scenarios and answer common financing questions such as:

• What is the cost of using my own money to grow my business?
• Is it less risky to use my own money?
• Do I need to go into debt to grow my business?
• How do I know which funding sources are right for my own business?

Join us to learn how to match your business needs with the right kind of funding!

Facilitator: Melanie Rupp, Senior Director of Loans & Advisory Services, WeBC

The post Self-Fund Your Business or Use Other People’s Money? appeared first on WeBC.

Find the Support You Need to Grow Your Business 

Navigating business challenges and pursuing opportunities can feel overwhelming, but the right support can make all the difference. Whether you’re looking for funding, tax credits, expert advice, or resources to expand your business, Canada’s Innovation Hub has you covered.

The Business Benefits Finder is a powerful tool designed to help you uncover the grants, funding, services, and resources your business may be eligible for. By answering a few simple questions, the tool searches for tailored opportunities that align with your needs.

The more questions you answer, the more personalized and accurate your results will be—helping you find the support that drives your business forward.

Explore a wide range of options, including:

• Grants and funding to fuel your projects
• Loans and capital investments to scale operations
• Tax credits to optimize your resources
• Wage subsidies and interns to strengthen your team
• Expert advice to guide your strategy
• Collaboration opportunities with partners and researchers

Start by selecting your main business goals, and discover tailored solutions designed to help you innovate, grow, and thrive.

Use the Business Benefit Finder to discover programs catered to your business’s unique needs and goals.

The post Business Benefit Finder appeared first on WeBC.

What Can You Claim?

You can deduct a portion of your home expenses that directly relate to your business activities, including:

• Utilities (e.g., heat, electricity, water)
• Maintenance and repairs
• Rent or property taxes
• Home insurance
• Mortgage interest (for homeowners)
• Internet and phone costs

Eligibility Criteria

To qualify, your home must be your principal place of business, or you must regularly use a specific area of your home exclusively for meeting clients, customers, or patients.

How to Calculate Expenses

• Determine the percentage of your home used for business by comparing the area used for work to the total area of your home.
• Apply this percentage to your eligible expenses to calculate the deductible amount.

Important Notes

• You cannot deduct expenses that are purely personal in nature.
• The deduction is limited to the income earned from your business. Excess expenses can be carried forward to future years.
• Always check the Canada Revenue Agency (CRA) for updated regulations to ensure your claims comply with the latest tax rules.

NOTE: To ensure compliance with tax regulations and maximize your deductions, it’s recommended to consult with a qualified accountant or tax professional. They can provide tailored guidance specific to your business and financial situation.

The post Claiming Business-Use-of-Home Expenses appeared first on WeBC.