 After graduating from Westervelt College with Honours in Business Accounting, Payroll, and Executive Administration, Nicole Derbyshire started Nyxluna Business Services in 2022 and began working as a subcontractor bookkeeper in June of 2022 for a local Aylmer business, Lambert Cook CPA. Nicole got to work, getting clients books sorted, and along the way gained a wonderful mentor and supporter in Lambert. “I have always loved accounting and related services,” Nicole said with a smile. “I always received very high marks for those courses in school, and I find it’s something that comes easily to me. I just see numbers differently.” Encouraged by her mentor, education, and experience, Nyxluna Business Services began to accept clients in June of 2024.
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 Why Every Small Business Owner Should Start with a Minimum Viable Income
For many aspiring entrepreneurs, launching a business is fueled by passion, purpose, and the dream of independence. But somewhere between that dream and sustainability lies a crucial but often overlooked concept: the Minimum Viable Income (MVI). Just as a Minimum Viable Product (MVP) helps test and validate a product idea with minimal resources, Minimum Viable Income is the baseline monthly income a business owner needs to cover personal and essential business expenses. Understanding and building toward your MVI early on is a strategic move that can determine whether your business survives—and thrives.  Starting a small business is an exciting adventure full of potential, challenges, and plenty of room for creativity. But while the journey can feel like a rollercoaster, there are certain strategies that can help you navigate the ups and downs while keeping your energy high and your stress low. Let’s dive into 10 fun and practical tips that will help you build a successful business
 Starting a small business is a huge leap, and one of the most crucial factors that can determine your success is whether there’s real demand for what you’re offering. After all, no matter how passionate or skilled you are, if there’s no market for your product or service, it can be challenging to thrive. Proof of demand is the foundation that validates your business idea and gives you the confidence to move forward.
But how do you prove demand for your product or service before launching? Here are several ways to validate demand for your small business:  Running your own business as a sole proprietor is exciting, but tax season can feel overwhelming—especially if you’re handling everything on your own. The good news? With a little organization and the right knowledge, you can confidently manage your tax obligations and even find ways to save money.
Whether you’re just starting out or looking to refine your tax strategy, this guide will help you understand the essentials of taxes as a sole proprietor so you can focus on growing your business. |