A Growing Trend: How Startups Can Compete With Larger Corporations - Canadanewsmedia
Connect with us

Business

A Growing Trend: How Startups Can Compete With Larger Corporations

Published

on

Larger Corporations

There are now more startups than ever before but not all of them are succeeding. One of the biggest reasons for a startup’s failure is having to compete with too many big corporations. If you are coming into a landscape that is already pretty saturated, making a profit can be a lot harder.

Fortunately, it isn’t impossible. With the right strategies and tools, you can bring yourself up to the same level without having to invest nearly as much money. These are the tactics that you should begin arming yourself with:

Find Your Niche

If you try to sell something that a dozen or more other companies are selling, you can be certain of failure. When you find yourself in a flooded sector, consider how you can set yourself apart from the competition. One of the easiest ways to do this would be to identify unsolved problems that your potential clients may be having.

Once you have done this, you will be able to market your product or service in a way that directly relates to the issue at hand. Since your organisation will be offering a solution that no one else has, you will immediately become a lot more interesting to your future customer base.

Be Smart with Your Capital

Larger corporations often have a lot more capital at their disposal. This isn’t a luxury that new companies have. This is why it is quite so important for you to be careful with the money that you do have. If you waste it on frivolous things, then you might just end up blowing through it rather quickly.

To avoid doing this, you should always budget properly. For instance, consider the case of virtual versus physical office. If you only have a few employees, then it doesn’t make much sense to rent out an office space. Instead, having people work remotely, from home could end up saving you quite a bit of money.

It’s All about Connections

One of your biggest obstacles as a start-up is the lack of connections within the industry. Thus, this is one of the first things to change about your situation as well. Wherever you go, try to find people that you can make connections with. These don’t always have to big clients – the smaller people can really help you out as well.

Make an Impression

Just because you are a smaller company doesn’t mean that you have to always act like one. Remember, it is important to manage how clients or potential clients view your start-up. Therefore, it pays to make a good and memorable impression. For example, when scheduling meetings with important people, make sure to rent boardroom in Toronto.

This will allow you to host the meeting in a large and professional space. Therefore, your clients will not care that they are not meeting at your office. Instead, they will be impressed by how you were able to set up such an excellent meeting spot.

These are the top ways that any start-up can take on and overcome even the largest of competitors. Thus, these are points that you should certainly consider.

Continue Reading

Business

All passengers safe as Montreal-bound Air Transat flight makes emergency stop in Paris

Published

on

By

More than 300 passengers resumed their journey to Montreal Sunday after their Air Transat flight from Italy had to make an emergency landing in France.

The airline says flight TS571 took off from Venice Saturday but had to make an emergency stop at Paris-Charles de Gaulle airport due to a technical problem with a floor heating panel.

Spokeswoman Debbie Cabana says the landing went smoothly and the health of the passengers was not compromised.

The 310 passengers spent the night in Paris and departed for Montreal Sunday morning in a different aircraft.

Cabana says the passengers will be eligible for compensation.

Let’s block ads! (Why?)

Source link

Continue Reading

Business

2 Stocks to Help You Canadians Retire Wealthy

Published

on

By

Young Canadian investors are facing retirement challenges.

Why?

Finding a good full-time job right out of college or university is not as easy as it was 20 years ago, as companies are less willing to spend the time and money to train people and prefer to hire more workers on contract. The gig economy has also expanded, meaning that more people are effectively self-employed, with no benefits.

When a full-time opportunity emerges, the benefits can vary significantly. Defined-benefit pension plans are becoming rare, and while defined-contribution plans can be generous, they shift risk from the company to the employee, as the payouts on retirement depend on the performance of the fund.

This is forcing Canadians to take more control of their retirement planning.

One popular strategy is to own top dividend stocks inside a self-directed RRSP and use the distributions to buy additional shares. Over time, the compounding process can create a substantial retirement fund and you can use the contributions to reduce your taxable income today.

Let’s take a look at two stocks that might be interesting RRSP picks right now.

Nutrien

Nutrien is the planet’s largest supplier of potash. It’s also a leading provider of nitrogen and phosphate. These commodities are all essential crop nutrients used by farmers to improve food production on their land.

Wholesale potash orders are negotiated each year with countries worldwide. China and India often set the bar for prices based on the agreements they secure with Nutrien’s marketing company Canpotex, and its competitors. Potash prices have improved in the past two years after experiencing an extended downturn.

Demand and global shipments are increasing, a trend that’s expected to continue as the world population is forecast to grow nearly 30% in the next 30 years.

Nutrien also has a retail division that sells seed and crop protection products to farmers. The business is growing through strategic acquisitions and Nutrien is investing in the development of digital solutions to help its customers manage their overall operations.

The fertilizer market undergo through periods of volatility, as has occurred in 2019 with record rainfall during the U.S. planting season affecting orders, but the long-term outlook for Nutrien is positive.

The company raised the dividend twice in the past year and the stock appears oversold today. Investors who buy now can pick up a 3.7% yield.

Bank of Nova Scotia

Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) has invested billions of dollars over the past decade to build a large business in Latin America.

The primary focus is on the Pacific Alliance countries of Mexico, Chile, Peru, and Colombia. The trade bloc allows the free movement of capital, goods, and labour among the members and provides an opportunity for Bank of Nova Scotia to capture business from both companies and consumers.

Firms that enter new markets require cash management services and Bank of Nova Scotia’s presence in all four of the core Pacific Alliance countries should give it an advantage. In addition, demand for loans and investment products will expand with the growing middle class.

Bank of Nova Scotia recently raised its dividend. The current payout provides a yield of 4.75%.

Is one more attractive?

Nutrien and Bank of Nova Scotia should both be solid buy-and-hold picks for a self-directed RRSP.

If you only buy one, I would probably make Nutrien the first choice right now. The stock appears oversold and the market might be underestimating the company’s potential to generate significant free cash flow when prices increase.

This tiny TSX stock could be the next Shopify

One little-known Canadian IPO has doubled in value in a matter of months, and renowned Canadian stock picker Iain Butler sees a potential millionaire-maker in waiting…

Because he thinks this fast-growing company looks a lot like Shopify, a stock Iain officially recommended 3 years ago – before it skyrocketed by 1,211%!

Iain and his team just published a detailed report on this tiny TSX stock. Find out how you can access the NEXT Shopify today!


Fool contributor Andrew Walker owns shares of Nutrien. Nutrien and Bank of Nova Scotia are recommendations of Stock Advisor Canada.

Let’s block ads! (Why?)

Source link

Continue Reading

Business

Street checks banned in Nova Scotia

Published

on

By

Nova Scotia’s justice minister says he will permanently ban street checks after a legal opinion co-authored by a former top judge found the Halifax police practice, which disproportionately targeted black males, is illegal.

“The decision that I’ve come to, based on a number of contributing factors, is we will move to make the moratorium to a permanent ban on street checks,” Justice Minister Mark Furey said Friday.

“It’s reasonable that any Nova Scotian is treated with respect and professionalism.”

Furey’s announcement comes after Michael MacDonald, a former chief justice of the Nova Scotia Court of Appeal, and Jennifer Taylor, a research lawyer, analyzed the controversial police practice of logging information about people they interacted with or observed.

They wrote in a review released Friday that street checks are not reasonably necessary for police to execute their duties.

“We have concluded that the common law does not empower the police to conduct street checks, because they are not reasonably necessary. They are therefore illegal,” the review says.

The practice came under the spotlight because of a CBC News investigation. That triggered a formal review by criminologist Scot Wortley that revealed black people were street checked at a rate six times higher than white people in Halifax.

‘Interfere with individual liberty’

The Nova Scotia Human Rights Commission called on MacDonald to offer a legal opinion on street checks, which are different from another controversial practice known as carding.

Friday’s report says street checks are when an officer interacts with or observes someone, and then records personal or identifying information into a database.

“The Wortley report confirms that street checks interfere with individual liberty, and disproportionately affect Black Nova Scotians,” wrote MacDonald and Taylor.

They say street checks are not authorized under the Nova Scotia Police Act, and they also put an individual’s privacy rights in question.

Their review says under the Charter of Rights and Freedoms, Canadians have the right to simply walk down the street or spend time in public spaces anonymously. When police document those moments, they’re no longer private.

In April, Furey ordered a moratorium on random street checks.

“We are not aware of the police having any difficulty executing their duties during this time, without the ability to record street checks,” wrote MacDonald and Taylor.

‘Nobody believed us’

MacDonald and Taylor say police still have other tools available, including the ability to gather information at traffic stops or police inquiries into suspicious activity.

“If the police are legitimately concerned for someone’s personal health or safety, that would be an appropriate reason to stop them and ask some questions.”

For Lake Echo resident DeRico Symonds, who organized a large march against street checks in March, the announcement is “a huge win” that’s long overdue.

“The black community was saying, ‘This affected us.’ Nobody believed us. Then it took another white male to validate that,” he said, noting both MacDonald and Wortley are white.

“That it took this amount of effort is absolutely disappointing,” he said. “If folks don’t get their driveway shoveled in Halifax, it’s an uproar, it’s immediate action.”

‘Larger systemic issue’

Symonds intentionally put the hood of his jacket up while doing an interview with CBC News to pay homage to those who have been the target of street checks for wearing a hood.

“We have to look at the larger systemic issue,” he said of ongoing racism.

It’s a comment mirrored by the justice minister.

Furey said since the April moratorium, he’s had many meetings with members of the African-Nova Scotian community. Youth, in particular, are passionate about making change, he said.

“This is about systemic racism in Nova Scotia. We’ll have another continued discussion around that.”

Furey said Friday he will immediately tell police in the Halifax Regional Municipality that the ban is now permanent.

“I anticipate we’ll have continued co-operation,” he said of Halifax Regional Police and RCMP. “Street checks based on race are unacceptable.”

Furey said he hasn’t actually read the report, and was basing his comments on two briefings about its contents. He said he will spend the weekend reading the 92-page review himself.

Let’s block ads! (Why?)

Source link

Continue Reading

Arts29 mins ago

A rare glance inside Winnipeg Art Gallery's Inuit Art Centre – CBC.ca

Science30 mins ago

Fireball over Japan part of larger asteroid that might one day hit Earth – Newshub

Science38 mins ago

Asteroid alert: Astronomer spots a 'potentially hazardous' 990m rock flying towards Earth – Express.co.uk

Arts2 hours ago

Nelson sensei using martial arts to help Rwandan trauma survivors – Nelson Star

Politics4 hours ago

Dragged into U.S. politics, Ukraine’s real challenge is ending a conflict sparked by Russia-backed separatists

Science5 hours ago

Christina Koch and Jessica Meir Execute First All-Woman Spacewalk – Science Times

Science8 hours ago

NASA discovers new risk factor for deadly quake-caused mudslides – The Weather Network

Science9 hours ago

The Orionid meteor shower to peak over Canada tomorrow night | News – Daily Hive

Science10 hours ago

Asteroid horror: NASA panic as space rock half size of Ben Nevis on dangerous Earth-orbit – Express.co.uk

Science10 hours ago

One of these is a deadly viper. The other is a harmless toad. Can you tell the difference? – Science Magazine

Science11 hours ago

This image shows the aftermath of two galaxies colliding – The Loop

Science14 hours ago

Feeding off-world colonies: Leeks and tomatoes can be grown in Martian soil – Digital Trends

Arts15 hours ago

Discover over 500 artists at Vancouver's Eastside Culture Crawl – Vancouver Courier

Business15 hours ago

All passengers safe as Montreal-bound Air Transat flight makes emergency stop in Paris

Economy15 hours ago

EU incoming economy chief calls for less restrictive budget policies

Trending