Tech Innovations that’ll Help You Grow Your Business Faster

Tech Innovations that’ll Help You Grow Your Business Faster


The technology is rapidly evolving with the new innovations that are taking place every year. It moves so quickly that you may get left behind if you are not connected with technology. Since the beginning of the 21st century, technology started changing more rapidly, causing many businesses to end. While bringing revolutions in many sectors, it also makes the business sectors more competitive than ever before. Many businesses even suffer from various drawbacks due to the lack of tech awareness.

This is why it becomes essential for a business to leverage technology for rapid business growth. You need to invest in website development to enter into the digital world. Despite this, many hosting companies like Bluehost hosting, host break, Hesitator, offers diverse hosting packages to support the business. This helps you launch your site effectively. But the main question is how you can grow your business faster through technology?

Following are the latest tech innovations that bring your business growth and help you to generate more leads.

Tech Innovations to Grow Your Business Faster

Many businesses experience a massive shift with the help of technology within the past 5 years. From the local taxi business to the hotels, and retailers, technology transforms the businesses entirely. While tech innovations also introduce new sectors such as ecommerce business. Therefore, to ensure that you stay with the world, you need to adopt the technology to grow your business faster. But how?

To adopt the technology, it is essential to know the ROI you get from the investments. Also, you need to analyze your current business performance. This will help you to compare before & after results. But what are the latest tech innovations? Let’s discuss below.

Artificial Intelligence

It won’t be wrong in saying AI as a common tech innovation used in everyday life. From smart apps to mobile devices, people are using artificial intelligence in their daily life. Therefore, the growing interest in every industry makes artificial intelligence an essential aspect of a business. This tech innovation can help you grow your business faster through the ability to emulate human intelligence, and perform the task much faster as compared to humans.

Therefore, by using AI in your day-to-day business operations, you can easily solve various challenges, including increased sales.

Automated Chabot’s

Automated catboats completely change the way business used to operate digitally. It provides a more convenient way to communicate with website visitors. Often, business sites lack in responding to customer queries. This ultimately affects business growth and sales. Therefore, catboats resolve the issue by answering the questions instantly.

So by adopting automated catboats, it becomes easy to grow your business faster. Through the automated catboats, every site can offer a better user experience.

IoT

IoT or internet of things revolutionizes the digital industry. Now, things can communicate with human & with each other without hassles. You can experience the IoT in most digital products. For instance, your sports watch that tells you how long you have been running. This is the power of IoT that is not limited to user experience.

But also, this tech innovation helps businesses to grow faster. You can easily automate your office space, or manage time employees spend over the internet. This ultimately enables businesses to be more productive that eventually helps them to grow.

Things to Consider When Buying or Selling a Business In Canada

Things to Consider When Buying or Selling a Business In Canada


If you are buying a new business or selling an existing one in Canada, it’s important to know that the process will involve more than just signing the dotted line. Not only must all the fine print be read and carefully considered, there are a number of other areas that will need to be attended to as well.

During the course of the buying and selling procedure, details will have to be negotiated and agreed upon between the buyer and seller that involve such areas as liability and tax implications.

Selling Shares

One of the most important decisions a business seller must make is whether to sell his or her shares or not. On many levels, it is advisable to sell them because there are definite monetary benefits to doing so.

Tax Advantage of Lifetime Capital Gains Exemption

Taxation (or the lack of it) plays a huge role in selling a business. Based on Capital Gains Exemption on Proceeds of Sales of Shares, a seller has a clear advantage to sell shares of a small business because IF a vendor is a Canadian Controlled Private Corporation (CCPC) in which more than 90% of the business income is Active Business Income (ABI), in accordance to the Lifetime Capital Gains Exemption (LCGE) of Qualified Small Business Share (QSBS), each person involved is able to claim an exemption of up to $866,912.00.

How it Works

How the capital gains exemption works is relatively simple as long as you fully understand it. Otherwise, you risk losing the exemption all together. If you sell qualifying business shares for under $866,912.00, you don’t pay taxes on the income received. Otherwise, you will pay taxes on all proceeds over the $866,912.00.

When it comes to selling a business in Canada, the Lifetime Capital Gains Exemption is the one and only tax exemption available.

The Catch

Every year, a score of business sellers pass up the incredible Lifetime Capital Gains Exemption without even knowing it because they are not aware that it exists. The LCGE is one of many tax planning and tax savings tools that are utilized by business law experts in Vancouver. While taking advantage of the tax break is not difficult, it does involve figuring out if your business qualifies or not, among other steps. It’s imperative to turn to a business law expert for guidance.

Corporate Law of Limited Liability Tax Advantage

Selling shares has another definite advantage which is to get out from under the liability that comes with holding shares. As long as the shares belong to the seller, so does the risk. When shares are sold, the liability is transferred as well.

Buyers Should Purchase Assets

Typically, buyers shy away from purchasing shares because they are interested in the assets of the company versus the shares. Shares come with liability and are more about the bones of the company in the marketplace rather than the current status of the business.

When a buyer only wants the assets of the business, such as the physical inventory, equipment, fixtures, trademarks and other intellectual property, and products, the business exists in a different form when purchased. It is then dumped into a new business vehicle that is owned by the buyer. The process is called an asset transfer or asset purchase. This type of business deal does not involve the liability of the business that was present prior to the purchase.

Game Changer

Just about the time you learn the rules of buying and selling a business, you may learn that everything has flipped around. That’s true because every deal that transpires in buying and selling a business is unique. The carryforward of asset depreciation being nearly NIL due to the Undepreciated Capital Cost of the assets is one reason a situation might change. Or, a seller may not wish to sell the business assets in order to prevent a recapture. Non-competition clauses and a myriad of other complicated issues may also play a role in the purchase and selling of a business.

The wisest move a buyer or a seller of a business in Canada can make is to secure the counsel of a Vancouver expert in business law to help ensure the transaction is a winning one.