Consider this scenario: A customer asks your company to manufacture a part according to certain specifications, which were outlined in a contract. He needs to add the part to his product and ship it to his customers by a set deadline. Your company creates the part, but due to an error that occurs during the…
For many businesses, entering a new market is a risky, time consuming, costly, and stressful endeavor. While businesses that already export can benefit from previous experience, existing processes, and internal know-how when entering a new market, there are still many risks in export expansion. Risk is amplified for businesses entering their first export market. While…
The Government of Canada has awarded the Canadian Hemp Trade Alliance (CHTA) with Canadian government grants. The investment will be used to develop grading standards to ensure Canadian hemp products are known globally for their high quality. This will allow the Canadian hemp industry to become more competitive, pursue new market opportunities, and create sustainable…
Exporting is one of the most important growth strategies used by businesses across Canada. Nearly 73,000 Canadian small and medium-sized businesses (SMEs) leverage new markets and opportunities outside of the country by exporting goods or services. This, however, only accounted for 11.8% of SMEs in Canada signaling that there is reluctance among Canadian businesses to…
Disclaimer: The views and opinions expressed in the following article are those of the guest author and do not necessarily represent or reflect Mentor Works Ltd. If you don’t know the rules of the game, how can you expect to compete fairly and win? Let’s not kid ourselves, exporting is a very competitive game, played…
In business, cash is king. Understanding how to manage your cash flow properly will save you from undue stress and ensure that you’re paid for your products or services. Meticulous cash flow management is one of the most important elements to running a strong, successful business. Cash is needed to complete new projects, pay employees,…
While I am not a certified human resources professional, I have had several opportunities throughout my career to screen, interview, and hire employees. I hired my first employee in 1991 and have gone through the process of finding the ‘right’ candidate several times since then. Although my background is geared towards science, research and development,…
2015 showed Canadian business owners and executives that uncertainty is the new ‘normal’ for operating a firm. With major shakeups in the Canadian economy, federal government, and international business factors, nothing can be taken for granted, and businesses must be willing to go beyond expectations to stay alive. Having reported major trends affecting business during…
This summer I had the privilege of walking Glen Abbey Golf Course in Oakville, Ontario during the final round of the Canadian Open golf tournament. My second time being on the course, I was immediately taken back by the stunning landscape, the peaceful chirp of birds, and being surrounded by some of the best golfers…
Having spent 15 years in the insurance industry before moving into the government grant funding space, I’d like to offer former colleagues some support and help those of us outside the industry, understand insurance. In very general terms, insurance is a very big branch of contract law. That contract was decided upon before something happened…