What is a Tariff?

A tariff is a tax applied to goods and services as they cross national borders. There are two types of tariffs: import tariffs, which are charged on goods entering a country, and export tariffs, which are charged on goods leaving that country. Tariffs are set by governments and are paid by importers or exporters, depending on the type. Tariff amounts can be fixed, applying a set fee per unit, or variable, based on the item’s value (ad valorem). Governments use tariffs to generate revenue, regulate foreign trade, protect domestic industries, or support national interests as an extension of foreign policy.

Don't let Amazon steal your customers this holiday season. Large corporations offer inexpensive or free shipping, low-cost products, and shopping convenience that small businesses simply cannot compete with. But there’s no need to! Instead of trying to match Temu's pricing or Amazon's swift delivery this holiday season, small businesses here in Alberta can captivate customers with their unique strengths. Read on for six advantages your small business has over big-box stores…

Christmas is undoubtedly the most profitable time of year for small businesses in Alberta, with the final quarter typically seeing a spike in orders and larger purchases. Yet, the chaos of the shopping frenzy can easily leave business owners feeling overwhelmed, or lost in the crowd. Preparation is the key to truly making the most of this bustling period. With the right strategies in place, you can navigate the holiday rush and ensure the well-being of both your business and yourself!

What is A/B Testing?

Picture this: you have two versions of a webpage, an email, or a call-to-action button, and you’re curious which one your audience prefers. A/B testing is the way to find out! This method compares two versions (Version A and Version B) of any user experience to see which one performs better. Whether it’s your website, an email newsletter, or a product design, A/B testing can help you discover which version drives more engagement, clicks, or sales.

You don’t need to be a marketing whiz to use push and pull marketing effectively for your small business. Let's break down what push-pull marketing is and how you can make it work for you.

In today's bustling marketplace, where choices abound and competition is fierce, understanding consumer behaviour is crucial to the success of small businesses. It's not just about selling a product or service; it's about connecting with people on a deeper level, fulfilling their needs, and winning their loyalty. Simon Sinek, a thought leader in business, aptly stated, “If you don’t understand people, you don’t understand business.” So, let's uncover the secrets of human behaviour and how they can drive business growth.

Cost-Volume-Profit (CVP) analysis is a valuable tool for small business owners. It empowers them to make informed decisions about pricing, production levels, and overall profitability. In this article, we break down CVP analysis in simple terms, explain its relevance to your business, and provide practical insights on how to apply it effectively.

In the realm of entrepreneurship, ambition often outpaces available resources. As your business grows, you may need capital to expand operations, invest in marketing endeavours, or hire new staff. In such moments, small business grants can offer a pathway to growth without the burden of added debt or relinquishing equity.

Introduction

As a small business owner in rural Alberta, you know finding ways to cut costs without compromising quality or efficiency is crucial to long-term success. Whether you are a seasoned entrepreneur or just starting your small business journey, it is important to have a budget and stick to it. Now that the new year has begun, it is the perfect time to refine budgeting strategies and explore innovative ways to minimize business costs. Let’s delve into the business budgeting process and check out some practical ways small businesses can keep their costs down in 2024.

Capital assets, dividends, gross profit margin, floating liabilities, working capital… When it comes to owning and running a small business, there are many financial terms involved. It can be overwhelming! Like most small business owners, you probably find it more satisfying to create products and connect with customers than to worry about finances. However, understanding key financial terms is crucial for the success of your business.