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Business Resiliency Playbook

Your guide to navigating through uncertain times.

High inflation, rising interest rates, and a labour shortage are squeezing Canadian business owners. Research from the Bank of Canada shows business leader confidence is at its lowest since 2020, and more businesses are expecting sales to decline as the threat of an economic downturn looms on the horizon.

The right planning can help you weather the challenges brought on by a recession to achieve success. Our Business Resiliency Playbook is here to offer you actionable ideas on how to navigate a turbulent economy with confidence and protect your business.

What challenges matter most to your business?

Finding new talent for my organization Retaining my top team members Managing my finances Reducing my costs Optimizing my tax savings Adopting new technology Selling or transitioning my business Planning my retirement

Workforce management and labour challenges

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Why are employees leaving your organization and what can you do about it? Explore solutions such as retention strategies, employee share ownership plans, and more.

  • Building on a firm foundation: How effective retention strategies set the stage for success

    Discover why investing in employee retention is crucial to your success, and how to go about building your organization’s unique retention strategy.

  • Rebuilding your organization’s culture in a post-COVID society

    What does it take to rebuild all-important corporate cultures in a post-pandemic environment? There are opportunities to redesign a more intelligent, productive, and fulfilling workplace for all – if it’s done with intent.

  • Using culture as a tool to build and maintain a strong workforce

    To ensure you have the right team supporting you through economic hardship, invest in creating a positive culture that fosters their wellness and productivity.

  • What’s driving the labour shortage for Canadian business

    Understanding the “what” and the “why” behind the labour shortage in Canada can lead business owners to broaden their thinking on how to manage it.

  • Recruiting and retaining your key talent: How can profit and equity sharing help you protect and grow your business?

    Attend the Business Owner Series webinar to learn how profit-sharing plans can help you reach your business goals and deliver the best possible benefits to your employees.

  • How recruitment and retention practices can shape your organization, for better or worse

    Embracing Equity, Diversity, and Inclusion (EDI) in the workplace can make all the difference when hiring, and keeping, talented people.

Managing finances and reducing your costs

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Are inflation and high interest rates cutting into your profit margins? Discover our suggestions to manage your finances and reduce your costs.

  • Six tips for managing your cash flow

    Struggling with cash flow management? These six tips could help your business navigate economic uncertainty with confidence.

  • Three practical strategies that can help increase profit margins in your business

    Has your bottom line taken a hit over the last year? These strategies could help you improve your profit margin.

  • How to prepare your construction business for a recession – your guide to surviving and thriving through uncertainty

    Headlines are being dominated by talks of a recession. Find out what your construction business can do to prepare for any challenges ahead.

  • Why do you need a Forward Contract for your business?

    In a volatile global market, your manufacturing business can hedge against exchange rate fluctuations and improve bottom line.

  • Residential Real Estate: How to manage your rising costs

    No silver bullet strategy will completely erase the impacts of inflation and interest rate hikes, but discipline and innovation can help your real estate company weather the storm.

  • A professional’s guide to coping with high inflation

    Owners of professional practices need to weather the storm of inflation, but their approach will, by necessity, look different from most traditional businesses.

  • Warehouse and inventory management: Your competitive advantage

    Warehousing space in Canada is an increasingly hot commodity. Here’s how you can make the most of the space you have.

  • How building a resiliency strategy can help your business weather periods of economic hardship

    A resiliency plan can help your business remain competitive as growth stagnates across all industries and interest rates continue to rise.

Optimize your tax strategy

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How can you build a strategy to reduce the tax that you owe and free up more of your cash flow? Explore our tax planning strategies to help your business weather the impact of a recession.

  • Underused Housing Tax Act

    The latest on the Underused Housing Tax and the unanticipated impact of filing requirements on Canadian private corporations, partnerships and trusts.

  • How to ensure your assessment is accurate to maximize your property tax savings

    Property tax errors happen all the time, and many organizations may not realize just how much they’re overpaying.

  • Federal and Provincial Budget Highlights

    Learn about the latest government announcements and understand what they mean for your business.

  • How to optimize your tax planning during an economic downturn

    How can tax planning help your business weather an economic downturn? These tips from our Tax Services team can help mitigate the risks you may be facing.

     

  • New Québec tax measures announced - including harmonization with recent federal tax changes

    Read MNP’s summary of the adjustments to the Québec tax system announced on June 27, 2023.

  • Tax planning for private company owner-managers

    With recent federal tax changes, owner-managers of Canadian private corporations should consider these planning options to navigate the legislative changes effectively.

Integrating technology

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Considering investing in technology to boost the performance of your business? Streamline your business processes and increase efficiency with our technology integration suggestions.

  • How can the Canada Digital Adoption Program improve your sales and marketing efforts?

    In this series of articles, we’ll investigate some of your biggest digital transformation opportunities, starting with strategies and applications to enhance your customer relationships.

  • Accelerate Your Digital Transformation with CDAP: A Shortcut to Success

    Join us to discover how technology is changing the business landscape in Canada.

  • Six IT mistakes SMBs make and how to fix them

    The persistent rise in technological innovations over the last few years, especially since the global pandemic, has clearly shown that technology can act as a significant driver in nearly every business, regardless of its size.

  • How a strong organizational culture is critical for the success of new technology

    A strong organizational culture can support the change management required to implement new technology. Discover our best practices to achieve success.

  • Planning for increased cyber risks in an age of digital transformation

    As organizations adopt more and more technology, they need to be aware of the risks and threats that come along with the change. Our whitepaper outlines four key challenges and strategies for overcoming them.

  • Thinking about digital transformation? These five questions will show you where to start

    Wondering where to begin digital transformation in your food and beverage business? These five questions will help point yourself in the right direction.

Exploring your business exit options

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Are you considering transferring the ownership of your business? Our guidance and expertise can help simplify the complex succession process.

  • Succeeding at Family Business Succession Planning

    Communication, governance, grooming and fair vs. equal are important principals to keep in mind when developing a succession plan.

  • Selling your business during economic uncertainty

    While recession fears have prompted some to alter their succession plans, maintaining a proper perspective will ultimately lead you to sell your business at the right time, for the right reasons.

  • What to know if you’re creating an employee stock option plan

    An employee stock option plan is mutually beneficial to you and your employees, but it must be properly designed and implemented to help both parties achieve their goals.

  • When, why and how to sell your business to a private equity firm

    Partnering with private equity groups can bring unique opportunities and is an option worth exploring when considering a transition of your business. A partnership can enable business owners to build value over the transition period, maintain control of the business, and continue to drive its growth.

  • Plan ahead to protect your family and business from unexpected events

    Having a clear succession plan in place is essential to protect both your business and your family in the event of an unplanned emergency.

  • Get on track to transition

    MNP is pleased to invite you to our marquee annual seminar for business owners: On Track to Transition.

Contact us

Glenn Fraser CPA, CA, MBA

Senior Vice President, Private Enterprise

Glenn is a member of MNP’s Private Enterprise team in Toronto. Glenn brings more than 25 years of experience to his role proactively serving privately held and owner-managed businesses in a variety of industries. In addition to assurance and tax compliance, he helps clients with business strategy, financing, tax strategy, and succession planning.

Prior to his current role, Glenn was the Vice President and National Leader of MNP’s Food and Beverage and Cannabis team. Glenn was also a member of the Firm’s Board of Directors from 2015 to 2022. 

Glenn is an active community volunteer with a long history of board appointments with several charities, including Childhood Cancer Canada, where he served as board chair for more than a decade. 

Glenn earned a Master of Business Administration (MBA) from York University. He is a Chartered Professional Accountant (CPA), qualifying as a Chartered Accountant (CA).