This post is written by Shayne Dueck, Partner and National Leader, Client Accounting and Bookkeeping Services at MNP.

MNP is one of Canada’s largest national accounting, tax and business consulting firms. Shayne works with small to medium-sized owner-managed businesses, delivering customized advice and solutions to help them achieve their goals. Based in Saskatoon, Shayne has a passion for bringing efficiencies to business processes to assist owners with getting the most out of their time and resources.

Many business owners navigating recovery from COVID-19 and the ensuing dynamic economy are looking for ways to maximize cash flow. Our team recently launched ease, which can use Xero’s cloud-accounting platform to provide always-on accounting and bookkeeping services so businesses can transform real-time financial information into real-world business insights. 

For Canadian businesses looking to drive their business forward by optimizing cash flow, here are three key cash flow benefits you’ll gain from

Every business owner loves when the economy is thriving because they are more likely to perform better. As long as the business model is relatively healthy, the opportunity for success in every business is limitless. Unfortunately, downturns in the economy happen every so often and businesses must be prepared to weather the storm otherwise everything could be lost. Regardless of which industry you are in, every business is affected when an economic downturn occurs. Luckily, there are certain things every business owner can do to mitigate economic risks and keep the business open or even thriving during uncertain times.

1. Create Digital Products/Services

It’s no secret the digital economy is thriving and is going to do so for the foreseeable future. By moving products online, your business is much more likely to succeed because you aren’t limited to local customers. Take for an example a business that sells handcrafted wooden

The posts in this series have been drawn from Xero’s Stronger and smarter: a small business handbook. Designed to help small businesses determine which steps to take next, this practical guide uncovers the 10 trends shaping the future – so you can come back stronger and smarter than ever.

If ever we doubted the power of the internet, the pandemic has confirmed it once and for all. Not only have we seen an increasing number of people looking online in search of accurate information, but they’re also embracing the convenience and comfort of online shopping as never before. 

While this was already a growing trend, having an online presence has become essential for all businesses. 

Matching your customer expectations

Now is the time to ramp up your online presence and give your customers the ultra-helpful information they seek. Things like having products on hand and immediately available, easy online

Our last four episodes screened yesterday. Learn about the future of open banking, brush up on your cyber security skills, or discover how to support your clients in our ‘new normal’ – whatever that looks like. And if you’re in the United Kingdom or South Africa, don’t miss your final regional episode on the next chapter for fintech.

After you’ve read the highlights below for Thursday 17th September, register or log in to ensure you’re getting the full episode experience.

Open banking: Flexibility and choice for customers

In this episode, Xero’s Executive Communications Manager, Penny Ydgren joined Global Head of Financial Partnerships, Edward Berks, and Deloitte’s FinTech and Financial Services Innovation Leader, Louise Brett. Together they explored what an open data world looks like for accountants, bookkeepers and small businesses, and what we can expect from open banking over the next few years.

A simple approach to your data safety

According to IRC Sales Solutions, only 2% of sales are made during the first point of contact. This means businesses stand to lose potentially 98% of their sales leads if they do not follow up.

The success of any sales rests on how well we seal deals. Success in sales means increasing the number of signups with both new and old customers thus positively affecting the business’ bottom line. The key to this is a strong follow-up plan to get prospects on board. 

As the number of follow up on sales leads increase, so do the chances of a successful sale according to IRC Sales Solution. As such, only 3% of prospects will sign up on the second contact and 5% will say yes on the third try. Surprisingly enough, 80% will buy-in into the sales pitch after the fifth or twelfth contact. This highlights the importance of f

Yesterday’s episodes were packed full of practical tips and steps you can take to keep your small business resilient and your wellbeing in check. If you missed out on yesterday’s offering for Xero On Air, relive the action by checking out the highlights for Wednesday 16th September below, then register or log in to enjoy the episodes in full.

Perspective and resilience

When you can’t change the conditions, you can still change your mindset. In this episode, motivational coach and mentor Ben Crowe explained the importance of perspective and resilience in our own personal search for happiness and confidence. 

Popular App Stack for Practice Success

Catch this episode to hear about popular apps that advisors can use to transform their practices and add even more value to their client services. Our EGM of Ecosystem, Nick Houldsworth, also outlined the features of the Xero app marketplace that help you find the