The Procedure
The first item to deal with is Good Governance which comes in three parts. The first part of this is Financial Governance, in order that the money that comes in, goes to the good of your business.
The second item is to make sure you your Good Governance is of a Strategic nature. It means that you have a good plan and that you re-visit it regularly to update it.
If your goal is to do something that has never been done before, then you should make sure that it can be done. That it is a reachable goal or project.
The third goal of good governance is Generative. This means that your company’s directors should have the ability to move beyond a simple strategic plan to something a bit more innovative.
You and your organization have to push themselves and the group. Even being strategic does not make you innovative and brave enough to try something new. The market and people change over time and you should challenge your company to change as well.
a)We have the ability to create websites and host them on major international server farms.
b)We can select or curate groups of products and make them attractive to today’s customers.
c)We can identify demographic groups and create ads that will be attractive to them.
d)We can search out the e-mail addresses, by Postal Code on Google.
With respect to training a work staff, as part of our management team, we have a certified instructor in Job Instruction Training (i.e., how to train anybody in anything, in 15 minute modules.)
But as time changes we will need more than employees doing just routine tasks. They will have to be innovative and creative to allow these businesses to succeed and prosper into the future. The Own Your Future management system can attract more qualified people, reduce turnover, and increase productivity. It can bring out the best from even employees that are resistant to change.
Why Small Business Works
Small and medium-sized enterprises (SMEs) play a major role in the Canadian economy: 99% of businesses in Canada have fewer than 500 employees and they employ 64 percent of workers in the private sector.
These businesses face many challenges with one being access to financing. Government guarantees or tax reductions solve this problem and should go towards small businesses, because they generate a positive economic impact. In fact these guarantees should spur economic growth and create wealth.
In 1776, Adam Smith wrote a book about ‘Approbation’ and commerce called ‘The Wealth of Nations’. In this book, he said the way to create wealth was to add ‘value’ to something.
This would not include the organizations that that just promote health and the environment.
One study indicated that the government considered four key dependent variables: salary, employment, revenues, and profits.
The CSBFP (loaning money to small businesses) has been said to have an impact on growth slightly above of 10% with respect to salaries and employment.
One other note is that the small businesses have a high level of profit that is amost 10% of gross revenues.
This is very good for the Provincial Government asthe Gross Domestic Product of NS was $36.5 billion in 2020.
Statistically speaking the support of each small rural business could increase to a maximum of $391 million in additional GDP to Nova Scotia. Breaking this down in a simple way, that is the equivalent of ($391,000,000 / $85,000 = ) 4,600 more jobs paying $85,000 per year.
The fact that actual small businesses were not as profitable as larger employers may be because of economies of scale. However, the small businesses achieved only 10% less revenue than the larger businesses on a per employee basis.This is good news for Nova Scotia and good news for the small rural communities in Nova Scotia.
We have been in contact with 3 communities in Nova Scotia and they have expressed enthusiastic interest in our proceedure. The set up costs for one business will require an investment of $40,000, however the net proft from that investment will eventually realize looks like this:
Annual Potential Profit Summary
a) Amazon Affiliate Marketing activities $ 47,400.00
b) Kickstarter Campaigns $ 57,851.75
c) Sales on Amazon and e-Bay $ 128,000.00
d) Sales to Large Retail Accounts $1,911,600.00
e) Sales to Smaller Retail Outlets $ 316,800.00
TOTAL $2,461,651.75
