The Government of Canada provides analysis and detailed information on economic indicators using the most recent data from Statistics Canada on the website, www.ic.gc.ca/eic/site/sis-sic.nsf/eng/home. This website can help small to medium sized businesses understand the dynamics of their industries. Users can focus on a single industry over time or compare one industry against another.
Data is segregated based on the North American Industry Classification System (NAICS) code. Within each specific NAICS code is detailed financial performance data. Such data includes, for example, average gross margins, detailed breakdowns of expenses (e.g. repairs and maintenance, labour, professional and business fees) as a percentage of revenues, and certain financial ratios (e.g. current ratio, return on total assets).
Consider using this site to compare your costs as a percentage of revenues to other Canadian companies in your industry.
*** As published in the 2016 Fourth Quarter edition of Tax, Tips & Traps***
Making your Canada Revenue Agency (CRA) payments online is convenient and easy. Payments may be made by: online banking, debit card or credit card.
Visit: Canada.ca/payments for more information.
Did you know the Vancouver Public Library offers free classes?
“This May and June take a free online course offered through VPL: Marketing Your Business on the Internet. In addition to the 6 week online course, meet up with fellow students four times to share ideas and work on projects. For more information and registration see our online events calendar: http://ow.ly/wvBP4”
Check it out!