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Helping Small Businesses Grow in 2022

December 16, 2021
Helping Small Businesses Grow in 2022

The past couple years have been trying for small businesses across Canada. We see the challenges that you’ve faced with nation-wide lockdowns, border closures, soaring inflation rates, and supply-chain disruptions, making it increasingly difficult to keep your business afloat.

We’re here, we’re listening, and we’ve got you. That’s why we are constantly adapting to better serve your needs. Having been in the Canadian financial services since 2006, we’ve been listening and learning for over a decade to help you face the challenges, surprises, and opportunities that arise, every day.

As we cross over into 2022 it is important to reflect on the hurdles that businesses like yours have worked so hard to overcome, but also remember to celebrate your resilience and drive in the face of a global pandemic.

“Small business owners are women, members of the LGBTQ+ community, black, indigenous Canadians, etc., and more than ever they have demonstrated resilience. They are the lifeblood of our neighbourhoods and communities- they are the visionaries who will define tomorrow. They are doers, and as such, they fall 6 times but stand back up 7. Today more than ever, Thinking Capital is laser-focused on continuing to support and nurture their success every time they fall and get back up. We’ve got you and we’re in your corner for 2022 and beyond.” says our Vice President of Marketing, Marc Fuentes.

We understand the dedication and determination it takes to chase after your dream, and we are proud to be a part of it.

As the year comes to an end, now is the time to begin making a plan for maintaining and growing your business in the future. To support you in developing your plan we have come up with some tips to promote your growth.

  1. Invest in digital marketing 

The world is becoming increasingly digitally-driven. To stay ahead of the competition, it is important to invest in your digital marketing efforts that you can measure, to target your audience at a local level. Due to the pandemic, many storefronts were forced to shut their doors and transition to an e-commerce platform. This has significantly changed the dynamic of businesses, and in turn their marketing strategies. Entrepreneurs are going to have to adjust and be open to new tactics they may not have tried before. 

 

  1. Invest in cybersecurity

Since the pandemic forced businesses to close their storefronts and move online, the threat of cyber-attacks has significantly increased. In order to keep you and your customers information and data secure, it is crucial to invest in cybersecurity. 

For more information on the importance of cybersecurity check out this video by the Insurance Bureau of Canada https://www.youtube.com/watch?v=70_KDoAFyyk.

 

  1. Establish a cash reserve

As the global COVID-19 pandemic has proven, it is crucial for businesses to keep a cash reserve. The reserve holds funds that can be used in emergency situations or when unexpected costs arise. Having the foresight to plan ahead and develop a cash reserve will provide your business with some leeway if unanticipated circumstances ensue. For more information on cash reserves check out our glossary here https://learn.arioplatform.com/en/articles/5627275-cash-reserves.

 

With the new year comes new opportunities and we want to help you take advantage of each and every one. We pride ourselves on being the fuel that drives small businesses forward. If you haven’t already taken advantage of our free Cash Flow Advisor (CFA) tool then be sure to do so now so you can start 2022 with better cash flow insights. Check it out here https://www.thinkingcapital.ca/cash-flow-advisor 

We wish you the best of luck putting these tips to use and growing your business in the new year, and we can’t wait to keep serving you.


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