During the month of November, financial services organizations throughout Canada participate in Financial Literacy Month. Advocis, the Financial Advisors Association of Canada, has created this website to help Canadians and their families achieve their financial goals.
5 Financial Indicators Every Entrepreneur Should Monitor
Proper financial management is crucial because it allows you to make timely, well-informed decisions in response to changing conditions.
You should review your indicators every month. You want to compare your company’s performance to objectives set out at the beginning of the year, based on a long-term strategic plan. You then adjust as necessary throughout the year to accomplish the objectives.
5 key indicators
- Growth – Are your sales and profits increasing or decreasing year-over-year? Is there a trend?
- Profitability – Is your business making enough profit compared to other similar companies?
- Liquidity – Can the company meet its short-term obligations?
- Leverage – Is the company taking advantage or financing to operate and grow?
- Activity – Are you managing the assets of the company effectively?
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Healthy Workplace Month
October was healthy workplace month across Canada – an initiative that encourages employers to promote healthy workplace practices throughout the year. Now that you have stacks of Halloween candy to get through, we thought we would share some healthy workplace resources.
How to Foster a Healthy Workplace
A healthy workplace is one that cares about the physical and psychological health and safety of its employees and establishes systems and programs to achieve and maintain exemplary health.
A healthy workplace consists of four elements, one of which is mental health.
In any given year, one in five Canadians will personally experience mental illness or a mental health issue, but five in five people – that’s all of us – have mental health. That’s why it’s in an employer’s best interest to support heir workers’ mental health where they can.
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How one company is embedding mental health into its culture
For over 177 years, Freybe Gourmet Foods has been producing handcrafted, European-style meats focused on great flavours and quality ingredients. The Vancouver-based company has been family-owned and operated for six generations. As a family business, Freybe cares deeply about its employees – and in fact treats them like family. It’s that mentality that led them to explore ways that they could support the mental health of their employees.
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The Canadian Mental Health Association has a wealth of information for workplaces and individuals. Including Not Myself Today.
The impact of workplace change on employee mental health is huge. Feelings of stress, anxiety and depression are on the rise. The Canadian Mental Health Association (CMHA) research with UBC found that 41% of people in Canada reported a decline in their mental health since the onset of the pandemic.
If you are looking to support the mental health of your employees, CMHA’s Not Myself Today workplace mental health program can help.
Not Myself Today is a social enterprise of CMHA that provides advocacy and resources that help to prevent mental health problems and illness, support recovery and resilience, and enable all Canadians to flourish and thrive.
If you would like to discuss these topics in greater detail or have any questions, please reach out to a member of your Arbutus Financial Team.