Earlier this week (November 25, 2014) in Ottawa, Minister of State (Finance), Kevin Sorenson, underscored the Government of Canada’s commitment to strengthening Canadians’ financial literacy. The recent news release from the Federal Government highlights a study by Intuit Canada that found a lack of financial literacy skills as a major barrier affecting the success of entrepreneurs. Minister Sorenson has been leading the development of a national strategy for financial literacy that draws upon broad-based consultations from across the country. The complete national strategy for financial literacy will be released in 2015.
Financial literacy, budgeting and good money management are key to building successful, prosperous businesses. I commend Start-up Canada, Chartered Professional Accountants of Canada and Intuit Canada for collaborating to help educate Canadians on how to effectively run a business and manage their finances. When young entrepreneurs have the tools they need to start a business and thrive, our entire economy benefits.” –Kevin Sorenson, Minister of State (Finance)
Financial Consumer Agency of Canada (FCAC) Offers Tools, Advice for Responsible Financial Management
Whether you are a business owner or consumer, the Financial Consumer Agency of Canada offers information, advice, and tools to help you improve your financial literacy and spend within your budget. From informational articles and videos to credit card tools, mortgage calculators, and budgeting tools FCAC offers resources to help guide responsible financial decisions of Canadians.
Free Government Funding Information and Financial Advice for Entrepreneurs and Start-ups
It is no surprise that cash flow is one of the biggest financial obstacles to success for both start-ups and established firms alike. Surviving the first five years is tough, nevermind sustainably growing a business. But imagine the positive impacts of being able to benefit from wage subsidies that cover 50% of the salary of your next employee.
Download a Free Canadian Government Funding Eligibility Checklist
In honour of Financial Literacy Month 2014, Mentor Works would like to remind entrepreneurs and early-stage start-ups that tapping into government funding for hiring and business expansion is a great way to improve cash-flow during a critical stage of your business’ growth. Download a free government funding eligibility checklist for start-ups to learn more about what you need to do in order to become eligible for the majority of funding programs available.