As an entrepreneur, it's extremely important to know where you stand in regards to revenues and spending on a consistent basis. Otherwise, you will have no idea what areas of the business need more funding and what ones need to cut down on their daily purchases.
This can be very tricky because all too often entrepreneurs forget finance plays a big part when trying to build something from the ground up.
It is pivotal that they remain focused on monitoring cash flow, especially in the beginning stages of business.
Keep your eyes wide open when dealing with money matters as they never stop mattering.
Are you a small businesses and not-for-profit organizations that enrolled in the CEBA (Canada Emergency Business Account) program?
The deadline for repayment of CEBA (Canada Emergency Business Account) program has been extended.
The new deadline for businesses to repay interest-free loans has been extended from December 31, 2022, to December 31, 2023. The program offered interest-free loans of up to $60,000 to small businesses and not-for-profits organizations during COVID pandemic.
Repaying the balance of the loan on or before December 31 2023 would result in loan forgiveness of up to $20,000.
Outstanding loans would be converted to 2 yr term loans with 5% interest per year starting January 1, 2024, with the loans fully due by December 31, 2025.
For more information, please visit CEBA website: https://ceba-cuec.ca/
