Canadian retailers are facing an uphill battle as they fight for market share in a competitive and changing industry. With continued store closures across Canada, retailers are urged to find ways to get in the game – or risk disappearing. Phil Lichtsztral, Partner at Richter Retail Consulting Services, discusses some of the causes and cures of the current retail landscape. Continue Reading
Growing your business and navigating stalls
This insightful three part video series, presented by First West Capital and featuring Alan Oishi, Shirlaws Group, explains how business owners and entrepreneurs can navigate predictable stall points when growing your business.
Part 1: Identify the black holes of a growing business
Entrepreneurs often use the words ‘capability’, ‘competency’ and ‘competitive advantage’ to describe their businesses. These definitions, however, are frequently misunderstood. Having a competitive advantage is more than having core competencies. This is why Amazon trades at over 170 times earnings while the average gas station can be purchased for three times cash flow. It’s important to clarify these concepts, which can provide a framework to help you identify and nurture your business’ competitive advantages. Continue Reading
For small to medium-size businesses, hiring a new employee represents a significant commitment of time and money. The right employee, whether for an entry level position or an executive management role, can increase productivity, improve company culture and ultimately grow the bottom line. Continue Reading
In January 2017, Alberta joins B.C., Ontario and Quebec’s efforts to reduce carbon emissions with the introduction of its carbon levy (tax). In addition, the Canadian government recently announced a national carbon price starting in 2018 at $10 per tonne, increasing annually to $50 by 2022. As Canada moves towards a common policy over the next few years, the implications for Canadian businesses will be felt as companies adjust to the costs associated with their carbon footprint.
Knowing the role your business plays in reducing its carbon footprint, and understanding the cost implications early on, will make the transition to the carbon levy easier.Continue Reading