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.

Creating a new business is an exciting endeavor filled with passion and dreams. However, financial and legal factors play a crucial role in making dreams a reality. One essential step in starting a business is identifying your start-up costs. By understanding and estimating these expenses, you can establish a solid foundation for your business. In this blog post, we will explore the process of estimating start-up costs and provide you with a roadmap to guide you through this crucial aspect of business planning.

The Business Plan

The past few years have brought about significant changes in Alberta's economy and the global economy as a whole. These changes have had a profound impact on small businesses, with shifts in customer bases and evolving best practices. To navigate this dynamic landscape, businesses need an up-to-date business plan.

Market Research can give you insight into the needs and interests of your customer base, the market trends in your industry, and how your own business is perceived. It can even help you discover who your clients are and define your target market. For many business owners, market research provides vital information for decision-making. A well-informed decision can mean the difference between making decisions that benefit your business and making poor decisions that may hurt it. Because you need to stay up-to-date with an ever-changing business environment and the constantly evolving needs and interests of your customers, market research should be ongoing. 

If you own a small business, you know how important it is to stand out in the crowd and be noticed by your potential customers. However, one critical question you must ask yourself is "Who ARE my customers?"

It's fundamental to business strategy, yet easy to overlook: defining your target market.

There is a lot to consider when thinking of starting your own business. It can be overwhelming and you probably have a lot of questions. Our Business Start-up Guide will walk you through the steps and considerations of building your dream business.

Writing a business plan is one of the first steps you should take when starting a business. A business plan will help you define and legitimatize your ideas. It will help you get organized so that you can quickly see success. However, Business Plans aren't just for startups.