As a business owner you know you are required to track all the financial transactions that flow through
your business. So why then do so many owners scramble in March and April getting their books together
for tax season? The answer is simple. You are passionate and great at the product or service you offer
but for many that is not an accounting business. Here are some tips and tricks to help you avoid the tax
season scramble.

1. Why record your transactions
If the only reason you are tracking is to be able to file your tax return, you may find that you don’t have
the motivation to track regularly. A more motivating reason why you want to keep good records is so
you can make business decisions. Do you need to increase the price you charge? Do you have
unnecessary expenses that are making you unprofitable? It is difficult to answer these without good
financial tracking.

2. What transactions to record
When it comes to recording your business dealings, ALL transactions need to be recorded. This includes
cash transactions, e-transfer transactions and business expenses you personally purchase for your
business.

3. Where to record your transaction
For many businesses starting out, a simple excel sheet tracking all of your sales and expenses is enough
to get started. If you do choose to invest in an accounting system, make sure you understand how to use
it. There is nothing worse than paying for a system, using it wrong and ending up in a bigger mess.

4. When to record your transaction
It is recommended to record your transactions as close to the time of the transaction as possible. For
some it may not be practical to record each time you make a sale or a purchase. However, getting
yourself into a weekly habit of recording all the transactions for the week can be a huge benefit. You can
likely remember your transactions for the past week (or quickly figure out what that charge was for).
Also recording on a weekly basis for many business owners can take less than an hour of time.

5. Talk to an Expert
Are you aware of all the things you can claim as an expense in your business? This is a common problem
area. Often times business owners get advice from friends and family about what expenses they are able
to claim. When it comes to tax time, Canada Revenue Agency might not agree that the advice is correct.
Please remember that every business is different and as a result there may not be a one size fits all
approach when it comes to your expenses
​
Tracking your business expenses may not be the thing that brings you joy. However, ensuring you are
properly tracking, with the right tools and on a consistent basis might just be the reason why you can
continue the business that is bringing you joy!

Jennifer Hare, CPA
Jennifer is a Financial Coach who has a big passion for helping people feel more safe and secure in their financial situation. Contact her at jenniferharecpa@gmail.com or on Facebook or Instagram 

Market and Festival Season is in full swing! As you plan and prepare to participate in a show with your small business, are you putting your best foot forward to create an inviting shopping experience for your potential customers?

Whether this is your first or seventh market season, there are always ways to improve the customer experience to create greater success for yourself. Check out these simple ways to maximize your market experience.

Select events that fit your demographic. 

• The first step to having a successful show is choosing the right opportunities! Consider the demographic for the event. Does it fit your target market or open you up to a qualified group of potential customers adjacent to your demographic? Sometimes it's worth trying a new event to see the fit. Still, often there is historical data available that you can use to determine if the event is a good fit for your goals. Consider if other vendors are selling similar products - this can allow you to stand out or blend in, depending on how you approach it!

Engage with your current audience ahead of the event!

• Let your followers and fans know where you will be by promoting the event on your social media channels and through your email list. Relying solely on event organizers for traffic to your stall isn't good enough marketing for you. Organizers are working hard to draw folks out to the event. Still, a few shares from you will help bring people right to you while expanding the overall impact on the event. If organizers share profiles of vendors, share information with them to provide timely features and reshare their posts! 

Have a clear and eye-catching display to attract customers. Use props, signage, and lighting accent your stall.

• Make it easy to spot your booth from a distance! You don't want folk wandering around a park unable to spot you - adequate signage and well-merchandised products go a long way to draw people in from a distance.

Have a visually appealing and organized setup to make it easy for customers to browse.

• Laying product out flat in one layer isn't eye-catching from a distance, and it often means the best stuff is overlooked. You may notice folks just walking on by. Add height and layers to your display using boxes or crates, hang up clothing items and use the ground when it makes sense. 
• If you are in a tent, arrange tables around the front edges of the canopy so shoppers don't have to enter the tent, as that can deter folks and make them feel trapped inside - especially if there are multiple shoppers. 

Ensure your products high quality, unique, and priced appropriately. Research your competition to stay competitive.

• Being competitive and copying are not the same thing. If you are inspired by another business, work to differentiate yourself from the competition and be unique in your offerings. Share what makes you unique and different without bashing other similar companies - that only reflects poorly on you.

Engage with customers and be knowledgeable about your products. Answer questions and offer suggestions.

• Being approachable goes a long way. We often don't realize how standoffish it appears to be sitting down or distracted when selling at an event. Stand up, put your phone away, smile and say hi!

Bring business cards or flyers to promote your products and encourage repeat business.

• Not everyone is going to purchase onsite, but they may want to follow up at a later date. Having business cards available and a sign with a QR code to find your social media or sign up for your email list is a great way to keep the conversation going, which could lead to a purchase later.

Accept various payment options to accommodate all customers, including cash,  and mobile payment methods.

• With the accessibility of systems like Square, it's easier than ever to offer flexibility in payment type. Many folks only carry a little cash now, which can limit what they might otherwise purchase. 

Offer promotions or discounts to incentivize customers to make a purchase. 

• Show sales are a great way to encourage that on-the-spot shopping. Think BOGO, a percentage off, or a specific item on sale as a show special.

Keep your space clean and well-stocked throughout the day.

• Don't leave snack wrappers lying around; keep any extra product on hand but tucked away to restock as necessary. If there are elements of your setup you don't need throughout the event, return them to your vehicle to maintain a clear and usable space for yourself and your customers. 

Consider offering samples or demos of your products to allow customers to try them before they buy.

• This also offers an excuse to engage with potential customers and start a conversation. It can be a conversation about how they are enjoying the event, their favourite element so far, etc. It doesn't always need to revolve around your products - make the discussion revolve around your customer -you might learn something about them and be able to make an excellent recommendation for a product you have!​

Follow up with customers after the market to thank them for their business and encourage them to visit your online store or future market events.

• A personal thank you, and an invitation to return to another upcoming event or to shop your online store with a unique code or discount can go a long way to building a longer-lasting relationship with a customer.

Have Fun!

• If you are having fun, your customers will have fun too.

In the world of cooking, spices are the key to transforming a dish from ordinary to extraordinary. When it comes to finding the best quality organic, gluten-free, and vegan spices in Southwestern Ontario, there's one name that stands out: Pepper Tree Spice Co. This local spice company has been revolutionizing the culinary experience since its inception in 2010, and its founder, Deb Kussmann, has made it her mission to make good food accessible for everyone to enjoy.
 
 The Pepper Tree Spice Co. journey began when Deb finished her business degree and noticed a significant gap in the market for high-quality organic, gluten-free, and vegan spices. With her passion for cooking and a strong belief in the power of good food, she set out to fill this void. Deb started small, selling her handcrafted spice blends at the Western Fair Farmers Market, where she quickly gained a loyal following of food enthusiasts.
 
 Word of mouth spread, and Pepper Tree Spice Co.'s growth was swift. With a dedicated customer base, Deb knew it was time to establish a permanent presence. She built a beautiful storefront in the charming village of Port Stanley, Ontario, where locals and visitors could immerse themselves in the world of spices.
  Pepper Tree Spice Co. continues beyond offering an extensive range of spices. They understand that cooking is not just about the ingredients but the experience. To further enhance their customers' culinary journey, Pepper Tree Spice Co. has introduced an array of new BBQ accessories and sets designed to elevate outdoor cooking to new heights, just in time for Father's Day!

  Pepper Tree Spice Co. recently hired Olivia Healey as the Resident Chef and Culinary Coordinator to ensure that their customers get the most out of their spices and cooking endeavours. Olivia's expertise and creativity perfectly complement Deb's vision of accessible cooking. Together, they are organizing Supper Club Cooking Classes hosted in Pepper Tree Spice's Co.'s kitchen, which exudes the warmth and charm of a beautiful home kitchen. This intimate and inclusive environment welcomes food enthusiasts of all skill levels to learn, share, and connect with others who share their passion for food.

  Pepper Tree Spice is committed to supporting people with diverse cooking needs, making their culinary experiences genuinely memorable. In addition to the Supper Club Cooking Classes, they also host Supper Club Kids cooking events for kids, nurturing a love for cooking from an early age. This summer, they are set to launch their cooking day camps, where children can explore different culinary themes like "Lil' Italy," "Ahoy Matey," "Mexican Fiesta," and more. For more information or to register, click here.

  Pepper Tree Spice Co. recently started hosting a Cook Book Exchange for those who love food beyond the kitchen. This unique gathering allows participants to bring their favourite recipe books, exchange recipes and books, savour delicious appetizers prepared by resident chef Olivia, and engage in meaningful conversations with fellow food lovers. It's a perfect opportunity to forge new friendships and expand your culinary horizons.

  Pepper Tree Spice Co.'s commitment to inclusivity, passion for good food, and dedication to enhancing culinary experiences sets them apart in the Southwestern Ontario culinary scene. With their ever-growing range of spices, innovative events, and warm, welcoming environment, they have created a space where everyone can find something to support their cooking needs, create lasting memories, and form connections far beyond the kitchen. Pepper Tree Spice is not just a spice company; it's a culinary community that brings people together through the love of food. 

I am sure you, like most people, have had an idea, interest, or passion that you thought would be a good business but have been baffled about what to do next.
First, know that the team at the Elgin/St. Thomas Small Business Enterprise Centre is here to help you in your early exploration of entrepreneurship or at any point along the journey. Don’t hesitate to reach out.
While no two businesses are the same, here are a few general steps to help you get started. 

1. Start with $5

Sometimes we have perfect shiny business empire ideas in our mind complete with staff, commercial space, and lots of zeros in our banks. But you can only jump from where you are today to that perfect shiny version of your business if you are already sitting on a bunch of zeroes in your bank account! 
Be willing to put in the work to get there. 

Many local businesses, including Purely Wicked and Abby Mae's Gluten Free Bakery, have launched their business first as a vendor at the Horton Farmers' Market before hiring staff and opening storefront locations.

Ask yourself the following questions; how can you start this business with $5? What is the minimum viable business you can create? Can you start selling to family and friends from your home? Can you try selling through Instagram or Facebook? 

Reducing the risk, and investment, by starting from where you (and with what you already have) is vital. It will allow you to test out the market, see if you enjoy doing it, and learn about your customers and the local market in which you operate.

1. No Sales, No Money.

The difference between an idea and a business is $1 in sales. People often get stuck setting prices and asking for the sale. Pick one item to sell to start. 

There are better long-term strategies than being the cheapest. Set a price based on one or more of the following factors: (1) what it is worth, (2) what it costs to make, or (3) what your competition charges.

Ask someone to buy it. Make a sale. Repeat.

So many people are passionate about what they do, and they get all choked up about charging money for it. Money is not bad, and money is what makes the thing you create sustainable. Plus, making money feels good! 

1. Stop talking to yourself about it!

I always say 95% of small business happens in the owner's head. Get out of your head and get out of your way. Our minds will tell us stories about how it won't work, how our mother will disapprove, and so on. 
Guess what? You are not special. Everyone has these thoughts.

To be an entrepreneur means taking a (social) risk and putting yourself out there before you have everything figured out. Talking to people about what you do is the only way to learn more, build a group of people invested in supporting your business, and connect to the resources you don't currently have. 

Saying out loud what you want to create is the first step to bringing it to life. You must talk to people about it and get their ideas, knowledge, connections, and excitement. 
And it's something you can do today. 

1. Take Action

Action-takers are money-makers. Start before it's perfect - before it's ready and before you talk yourself out of it. 
Post it on Facebook. Send your Superfans an email update of what you have in the works. Reach out to someone with whom you'd like to collaborate. Build a prototype.

Telling people about what you are doing in any way is marketing because people can only buy from you if they know your business exists. 

Be wary of time wasters such as perfecting a logo or a website or feeling like you need more tools to start. You will only learn what you need by working with engaged or potential customers. 
 
Final thoughts
There are many right ways to run a business, don't cling to what you or others think you should do. Build the company that works for you and is possible from where you are. 
This journey is not for the faint of heart. You must be willing to put in the work and be consistent. Money doesn't grow on trees; it takes time to build a business. 

Professional Business advisors are available for free through the Elgin/ St. Thomas Small Business Centre. Contact us at smallbiz@stthomas.ca to set up a call about your business. 

This article was originally published in Hometown St. Thomas, March 2023 - Click here for the full issue

What is SBEC anyway?
Acronyms, am I right? We all use them when we are on the inside like it's no big deal - but when you are unfamiliar with an industry or organization, and they come up, it is easy to become overwhelmed or tune things out and miss out on valuable support.
 
So let's bring you into the conversation about who we are and what we do at your local Small Business Enterprise Centre or SBEC. Our team of Small Business Advisors serves the small business curious of St. Thomas and Elgin County throughout all phases of business, from discovery and planning to launch and growth.
 
Operating as part of the St. Thomas Economic Development Corporation, our services are available at no cost through the added support of Elgin County and the Province of Ontario. Our organization is part of a Province-wide network of small business centres allowing us to connect you with more resources and learning opportunities to grow your business.
 
In addition to one-on-one or group consultations, our team offers business plan guidance, training sessions and seminars, access to local connections, grant programs for young entrepreneurs and those starting out, and community events to support building strong network connections.
 
The Horton Farmers' Market operation is also a part of how we support the local community of small business owners. While the market is essential to our greater community for many reasons, to our small business owners, the market can act as a great launching point. Several local small businesses have taken off from there and now have storefronts. The Horton Farmers' Market is a producer-based Farmers' Market that draws vendors from a maximum distance of 60km from its location at 10 Manitoba St.
 
Another unique way we support the community is through GROW, an accelerator program offering no-cost space to small businesses considering expansion into a physical location. The Caboose at Jumbo is an option to be a three-month stepping stone between home-based and storefront. Or the opportunity to give it a try at a low-risk point.
 
If you are in business or looking to get in business and located in St. Thomas or Elgin County, contact our team of passionate small business advisors. They are always excited to meet new folks, celebrate your wins and assist with navigating the inevitable tough spots. Reach out before you need a listening ear or practical advice. Connect with us on social media and stay tuned for exciting announcements, celebrations of local businesses, and the incredible events ahead.

This article was originally featured in Hometown St. Thomas - March 2023 - enjoy the full edition here

Talbot St. has worn a lot of styles - from dirt to brick, to pavement featuring streetcar tracks to ultimately what we have now! The time has come for the work to continue improving both the street and what lies beneath. As our City continues to grow and evolve so must the infrastructure!

Phase three of the Talbot St. Reconstruction continues the work that was completed in the West End in 2018 and will bring the section of Downtown from Mary St. to Ross Street up to the standard set in the west end with incredible railway-themed touches, increased parking, and upgraded light standards - in addition to the necessary work to the replacement of Sewers, Watermain, Utilities below.

During construction, sections of the road will need to be closed to vehicular traffic from March to October to complete the work safely and in a timely manner. Construction will be phased and include tight schedule deadlines and financial penalties to ensure it is completed quickly. Pedestrian access will generally be maintained with minor disruptions. The construction will be completed in two stages beginning in March with an expected completion in October.

For more information regarding this project, full details and plans are available on the City of St. Thomas Website.

For our small business community that calls Talbot St. home, this project is, on the one hand, very welcome. There is an excellent understanding that this is essential work that needs to happen, and better if it is planned than an infrastructure failure. The finished streetscape will also be an incredible upgrade with a fresh look to accent the historic downtown area. However, there is also some genuine and reasonable concern that the construction will impact visitation to their businesses. And that's valid too.


The great words of a classic film, "If you build it, they will come," raises a great argument with the caveat that folks need to KNOW that something has been built so they CAN come. And this is the principle we are going to touch on here. Because yes - your foot traffic is likely to be impacted. So what can you do about it?

Keep your customers in the loop about what to expect.

• Your shop will maintain access through the front door for most construction
• Share a map of parking lot locations - there are LOTS of lots in Downtown St. Thomas, and provide fun sights to see along the way (other shops, murals). Railway City Tourism has Mural guides, local walking tour maps and more available.
• Post alternate access points and sign them well in advance of the days that you will not have access to your front door. (perhaps have it as an option during the entire construction period)
• If you feel better having the back door locked for whatever reason, consider adding an inexpensive bell to "ring for service."
• Share updates on the construction process through your social media. 
• Get your website up to date and offer shopping online. Many of you may have transitioned to an online model during the unmentionable time - this strategy is still a good one!

​​Stay Positive with your customers, but also be authentic.

• Customers don't come to your place of business to hear you complain. Full stop. There are ways to be optimistic about a situation while being true to it. 
• Make a list of positives about the end product to get you through the dust and noise, and keep it by your register. Did I mention extra parking and gorgeous benches? New crosswalks?

Give your customers a reason to visit.

• Do something fun in-store - offer a unique activity, customer appreciation event, or a sale - get creative and have fun with it. A back door sidewalk sale with your neighbours?
• Participate in events the Downtown Development Board might offer.
• Promote events that other downtown businesses are offering.

​
Keep communication up

• Use your socials and email lists to your advantage - it's why you have them!
• Businesses that maintain solid communication plans throughout the construction will inevitably be impacted less and recover more quickly than those who choose to disengage.
• Attend Downtown Development Board meetings and subscribe to their newsletter for updates.

​
Make new friends

• Make friends with the construction contractors and crew. Some days, you may want to sabotage their jackhammers. But they're often your most reliable source of information, and knowing that your friends are just out there doing their jobs might make the process easier to swallow.
• Make friends with other business owners downtown, visit them, and share about their businesses! 

Don't ignore your financials.

• Now may be a good time to review with your advisors and adjust projections that didn't consider the planned construction.
• If you don't already have a contingency fund, a plan to sock one away would be good.

This is an incomplete list - there will be more ideas that surface over the coming months - the key is to remember that you aren't alone, and your neighbours will be experiencing at least one of the same external factors that you are - lean on one another and lean on us too.