Accounting Services for Small Businesses in Canada

The Washington Post just published a fun comic about Daryl Ching, and the summer job that changed his life: 🚪 door-to-door sales. It wasn’t glamorous. At 18, Daryl pushed around a cart full of useless products no one wanted. He faced one thing more than anything else: rejection. Every single day, rejection after rejection; sometimes very rude and vulgar. But this isn’t a story about sales. It’s a story about resilience. That summer job turned out to be the most valuable work experience of his life, not because of what he sold (though he did sell a lot), but because of what he learned. The door to door sales job drastically shifted his mindset, and was instrumental in building the kind of courage and confidence that shapes entrepreneurs and leaders. As Daryl puts it, those lessons still guide how he runs his business today.

How can Mark Carney regain the confidence of Canadian small business owners? Wealth Professional Canada Magazine explores this pressing question, and who better to weigh in on this than Daryl Ching? In the article, Daryl offers his insight into the economic challenges small businesses are facing, and he assesses how Carney’s proposed policies stack up. Click the link below for a thoughtful analysis on what it will take to restore confidence in Canada’s entrepreneurial backbone.

Today is election day in Canada. BNN Bloomberg TV is covering the election from many angles, but when it comes to the subject matter of how this election will affect small businesses, who better to talk about this than Daryl Ching? He sits down with Andy Bell and breaks down the 5 things small businesses are focused on, from a new government and gives his 2 cents on which party is more likely to deliver in each of the 5 things.

With Trump implementing 50% tariffs for Canadian steel and aluminum, BNN Bloomberg TV called Daryl Ching back to the studio, to continue their previous discussion about the importance of opening free trade between provinces in Canada. It can no longer be assumed that Canadian companies have access to the US market. It is a matter of survival to ensure we have a borderless market in Canada if we want to avoid the catastrophe of mass business failure across the country.

Trump's tariffs continues to be a huge concern for all Canadians, but Daryl Ching shows up as a guest on BNN Bloomberg's THE CLOSE to state his case that maybe in the long run...Trump's tariffs could be a blessing in disguise. His tariffs just may present a major opportunity for Canada: making our country an even better place to do business by eliminating interprovincial trade barriers. Trump has unintentionally sparked a wave of unprecedented patriotism, and Canadians are eager to buy Canadian. This could be better for Canada's economy than what we initially thought. Click the link for Daryl's commentary.

For a startup, an institutional market of investors exists for companies that are looking to hit home runs, seeking explosive revenue growth and quick exits. However, the trade-off is often loss of control over the business. Daryl has written an opinion piece for the GLOBE AND MAIL, examining the collapse of Vancouver's Bench Accounting, which had raised more than US$100-million and serviced 11,000 small businesses. What went wrong? What lessons should we learn about the consequences of taking large equity investments from institutional investors, whose goals are misaligned with the founder’s vision. This article is a cautionary tale about the hidden risks of institutional funding and, more importantly, how companies can protect themselves.

Daryl Ching is the special guest on THE CLOSE on BNN BLOOMBERG TV, to provide his insight on the changes to capital gains tax and how it could impact new businesses starting up.

With the big news of Justin Trudeau stepping down, and Parliament shutting down until March 24, how will that affect individuals and businesses? BNN Bloomberg TV needed some answers, and they invited Daryl Ching as a guest on THE CLOSE to provide his insight on the situation.

With Justin Trudeau announcing his resignation, and Parliament shutting down until March 24, what does this mean for small businesses, heading into tax season? Daryl Ching wrote an opinion piece for the Globe and Mail about the effects of Prorogation.

Daryl Ching was a guest on THE CLOSE on BNN Bloomberg TV, where he's interviewed by Andrew Bell, to provide his insights on the GST Holiday and painted a picture of the impact it is likely to have on businesses across Canada.

Daryl Ching of Vistance Capital shares his opinion with the The Globe and Mail about Justin Trudeau's half baked idea on the temporary two month GST/HST holiday ahead of the holiday season. It is likely the federal government did not consult businesses on this policy as turning off sales tax is not as easy as flicking a switch, especially if they have multiple product lines. Companies will be spending the next month figuring out how to implement this policy rather than focusing on their core business, and some may decide not to participate at all.

Vistance shared its insights with Daniel Johnson at BNN Bloomberg on what the Bank of Canada's recent 50 bps rate cut means for small businesses. The rate has decreased by 1.25% from its peak bringing down the cost of borrowing to more viable levels for small businesses, hopefully a trend that will continue to pre-COVID levels. In other great news, the Liberal government is setting aside $2.4 billion in its upcoming budget to build capacity in artificial intelligence, Prime Minister Justin Trudeau announced. $300 million will be earmarked for small businesses looking to adopt AI. We will be keeping a close eye on this and advising our clients as soon as more information comes out.

Vistance Capital has provided its insights to the The Globe and Mail through this commentary piece. Due to the backlash the federal government received from their capital gains announcement back in April, Freeland has announced in an increase in the lifetime capital gains exemption from $1MM to $1.25MM, and raised the 33% inclusion rate limit to $2MM by 2029. While this is a step in the right direction, this does not go far enough and the new rules remain a deterrent for new entrepreneurs to set up in Canada and a deterrent for existing business owners to stay in the country.