High inflation, elevated interest rates, and a fall in consumer demand are causing concern for business owners. Research from the Bank of Canada shows business leader confidence has declined to it’s lowest level since 2020, and more businesses are experiencing low sales.
The right planning can help you weather the challenges brought on by economic uncertainty 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.
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Take our Business Resilience Assessment
In an uncertain economic environment, resiliency is a key attribute for successful, sustainable businesses. This assessment explores five key business areas and helps you identify priorities for improvement.
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 retirementWorkforce management and labour challenges
Return To TopWhy are employees leaving your organization and what can you do about it? Explore solutions such as retention strategies, employee share ownership plans, and more.
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Identifying and understanding bias in your organization
Everyone has biases, but digging deeper to assess where they exist and how they impact your workplace can boost effectiveness and innovation.
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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.
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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.
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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.
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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.
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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.
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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.
Managing finances and reducing your costs
Return To TopAre inflation and high interest rates cutting into your profit margins? Discover our suggestions to manage your finances and reduce your costs.
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Exploring the landscape: The pros and cons of alternative financing sources for your business
Alternative financing opportunities can provide significant benefits for Canadian business owners, but they’re not without their risks. Whether you’re looking for flexibility in repayment or to diversify your funding sources, there are several options available to help meet your unique needs.
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Six tips for managing your cash flow
Struggling with cash flow management? These six tips could help your business navigate economic uncertainty with confidence.
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Three practical strategies that can help increase profit margins in your business
Has your bottom line taken a hit? These strategies could help you improve your profit margin.
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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.
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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.
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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.
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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.
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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
Return To TopHow 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.
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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.
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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.
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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.
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Federal and Provincial Budget Highlights
Learn about the latest government announcements and understand what they mean for your business.
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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.
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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.
Integrating technology
Return To TopConsidering investing in technology to boost the performance of your business? Streamline your business processes and increase efficiency with our technology integration suggestions.
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Protecting yourself against fraud is a matter of good business practice
It’s difficult to keep up with all the products and services required to defend against fraud. But security solutions all have one thing in common. When it comes to safeguarding your company, good business practices will always be your best protection.
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What’s next for businesses now that CDAP has ended?
The federal government has announced that the Boost Your Business Technology grant is fully subscribed and will no longer accept new applications. MNP Digital remains committed to supporting Canadian small businesses with their digital transformation goals.
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Executive real tech talk: How the right partner can help you choose the best technology solution for your business
A partner can save you from spending thousands of dollars on solutions that don’t fit your goals. But how do you find the right partner for your organization?
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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.
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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.
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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.
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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
Return To TopAre you considering transferring the ownership of your business? Our guidance and expertise can help simplify the complex succession process.
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What Canada’s aging population could mean for your succession plan
The unexpected impacts on your business, and its sale, as Canada’s population continues to get older.
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Maximizing the multiple: How savvy business owners get top dollar for their business
Discover how successful entrepreneurs Tim and Jamie made a tax-efficient exit from their manufacturing company with the help of MNP’s Succession Services team.
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Thinking of selling your company or practice? Here are the advantages and disadvantages of each option
Get a clearer understanding of the four most common options for selling your business or professional practice — and which might be best suited to your goals.
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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.
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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.
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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.
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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.
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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.
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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 the senior vice president and national leader of our private enterprise team and is based out of 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).