The 5 most common pricing strategies | BDC.ca
Cost-plus pricing. Calculate your costs and add a mark-up. Competitive pricing. Set a price based on what the competition charges. Price skimming. Set a high price and lower it as the market evolves. Penetration pricing. Set a low price to enter a …
Business continuity plan (BCP) in 8 steps, with templates - BDC
Step 1: Establish an emergency preparedness team. Assign a team the responsibility for emergency preparedness. Select a few managers or an existing committee to take charge of the project. It’s advisable to assign one person to lead the planning process.
How to choose the right structure for your business - BDC
Here’s a summary of the pros and cons of the three business structures. Sole proprietorship. Partnership. Corporation. Legal status. Does not exist as a separate legal entity. Proprietorship = ownership. Does not exist as a separate legal entity. Partnership = partners as owners.
4 types of financial ratios to assess your business performance
Debt-to-equity ratio. The debt-to-equity ratio measures how much you are using debt to finance your business relative to equity. High ratios indicate the company relies heavily on debt. While lower ratios point to a healthier reliance on debt, although it can sometimes point to an overly prudent approach to investing.
Business valuation: What's your company worth? | BDC.ca
Determining a company’s value is a complex process—part science, part art. Complicating matters is the fact that many entrepreneurs have an overly optimistic view of how much their business is worth. Here are five things you need to know when determining the value of your company. 1. Differing expectations can cause conflict.
How to write a business plan | BDC.ca
4. Financials. Include a cash flow forecast, usually broken down on a monthly basis and presented as a spreadsheet. Also add your financial statements (balance sheet, income statement, cash flow statement and statement of retained earnings). And if you’re a new business, list start-up costs.
What is an entrepreneur? | BDC.ca
Here’s what it takes to become an entrepreneur. An entrepreneur is someone who starts or owns a business. Whether it’s in farming, retail, manufacturing or in the service sector, entrepreneurs are businesspeople who find their success by taking risks. In their pursuits, they often become disruptors in established industries.
What is ESG and what does it mean for your business? - BDC
ESG stands for environmental, social, and (corporate) governance. It is a set of practices and metrics used to evaluate a company beyond its financial performance. In other words, ESG practices and metrics offer a way to measure a company’s health and stability beyond what may be deduced from the numbers on its balance sheet.
What is a letter of credit? | BDC.ca
A tool for minimizing risk in international trade. A letter of credit is essentially a financial contract between a bank, a bank's customer and a beneficiary. Generally issued by an importer’s bank, the letter of credit guarantees the beneficiary will be paid once the conditions of the letter of credit have been met.
How to measure your carbon footprint | BDC.ca
A carbon footprint is the total amount of greenhouse gases an organization contributes to the atmosphere. Seven greenhouse gases covered by the Kyoto Protocol are typically measured, including carbon dioxide (CO 2), methane and nitrous oxide. A company’s carbon footprint is measured in tonnes of carbon dioxide equivalent (CO 2 e).