While U.S. was hit by a recession and Europe was under severe debt, Canada’s economy grew by 3.1% last year, 9th largest in the world. The ranking was based on 11 factors such as property rights, innovation, technology, corruption and so on. It compared 134 countries. Canada is among the top 5 in investor protection… Read more »
Posts By: Update Team
From India with Money
Average household income of Canadian immigrants from India is $95,000 which is 14% more than average income of Canadians. The expenditure for Indians who have immigrated to Canada since 2006 have increased by 46%, compared to an average of 19% increase in the expenditure of Canadians. An average of 56% immigrants from India own new… Read more »
Canadian Business owners put their companies at risk by ignoring need for succession plan
As mentioned by the head of Business Transition Planning of CIBC, Sean Foran, small and medium businesses contributes $600 billion to Canadian GDP. With an average age of 60 years for Canadian small and medium business owners, and with almost two third Canadians employed by these owners, it is important for business owners to have… Read more »
How to build a cross-Canada sales force
Enjo Canada Cleaning Inc. is a Toronto based firm that offers chemical free cleaning products and sells its products through home parties like Tupperware and Mar Kay Inc. Its present sales force of 350 consultants are targeting to a sale of $4 million this year with 85% of its sales concentrated in Ontario. In its… Read more »
Benefits of working from home
According to a survey by Workopolis, people believe they are more productive when they work from home and businesses believe they are able to retain employees longer by offering them flexible options to work from home. It is felt that working from home helps employees to maintain their work life balance and also save time… Read more »
Establishing a new business
Sean Fahey, an MBA from Florida Atlantic University, wanted to be self-employed. During his MBA he started a retail store of belt buckles, which he eventually expanded to 13 stores in the U.S. and Canada. However, his business was severely hit by recession, and in 2009, he was forced to shut down his business. While… Read more »
Groupon’s new strategy to increase customer loyalty
Groupon is a firm that offers discounts to its customers by offering millions of deals on everything (meals, manicures etc.) through distribution of its coupons. Groupon’s daily deals are very popular, have the easiest reward programs and focuses on increasing customer loyalty. However, despite its increasing popularity Groupon hasn’t been profitable and instead, it has… Read more »
New Generation Entrepreneurs
The 2011 N.C. Governor’s Entrepreneurship summit was a two day event held to promote entrepreneurship in North Carolina. One of the panels was hosted by Donna Fenn, who is the author of the book “Upstarts”. The book speaks about the rise in entrepreneurs born between 1977—mid nineties (called Generation Y). The rise in role models… Read more »
Using social media to promote your business
Due to the rise in internet and digitalization, the revenues of the music industry had fallen from $15bn in 2000 to $10bn in 2007. While music industry was being hardly hit by the internet, Troy Carter took Lady Gaga in his talent agency “Coalition Media”. He knew he could make her a huge star like… Read more »
RIM loses $3 billion in one day
On the back of dismal second quarter results, in which RIM reported that its profit dropped 58 per cent to US$329 million and its revenue fell 15 per cent to US$4.2 billion, the Toronto Stock Exchange and NASDAQ saw massive selling of the RIM stock. On Friday alone, RIM lost $3 billion in its stock… Read more »