Financial Management Archives - Empowered Business Coaching

The British Columbia “Health Tax” a Blessing in Disguise

The new “Health Tax announced in the reading of the 2018 BC provincial budget made it clear that the NDP/Green government wants to transfer the burden of the health care system onto the backs of BC businesses. The $500K payroll exemption excludes micro businesses from the new tax burden. However, based on an average annual […]

Solving the Profitability Epidemic in Surrey

There is a profitability epidemic lurking amongst manufacturing and trades businesses in Vancouver and the surrounding area. Although a large number of businesses are flourishing I have had the opportunity to meet with dozens of business owners of well established businesses who employ five to fifty people that struggle to break even. In many cases […]

8 Key Factors Dictate the Value of Your Business

I have met with over 100 business owners in Surrey, Langley, Delta and Richmond the past few years. I am thoroughly inspired by the hard work, dedication and quality of products and services businesses in this community produces. Many make a good living. However, despite their hard work and success running a profitable business there […]

3 Steps To Increase Profits by $50,000 in One Year

One of the biggest frustrations many business owners have particularly in the Manufacturing, Trades & Technology Sectors are lost profits due to underselling their products and services. I had a conversation with a Contractor in Surrey last month. He felt that he had to discount his prices to ensure he got the job. I asked […]

Stop Using “Beer Case” Metrics to Run Your Business

Many business owners anxiously await the release of their financial statements so they can see how they are doing. At best the financials are reviewed monthly but more often than not they are reviewed on an annual basis. Measure Business Performance So how do these owners measure business performance in the meantime? They use the […]

Powerful businessman holding sections of huge chain over white background

The Profitability Epidemic

There is a profitability epidemic lurking amongst manufacturing and trades businesses. Although a large number of businesses in these sectors are flourishing there are many well established businesses that employ five to fifty people who struggle to break even. In many cases the owner earns the same as their employees and works over seventy hours […]

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