Sage survey finds more than half of Canadian entrepreneurs moving from business idea to operation in under six months
RICHMOND--Sage North America has released a new survey on small business, a move timed with the release of Sage One--Canadian Edition, an online accounting and invoicing solution.
The survey, conducted in December 2013 and polling more than 500 Canadian small business owners, found that more than half of new Canadian start-ups went from business idea to launch in less than six months. The report also found that two-thirds of respondents were able to pay themselves in the first year, while approximately 30 per cent were hiring employees within the first two years of operation.
"These findings highlight how quickly Canadian entrepreneurs are bringing ideas to market and selling their products and services to customers," said Nancy Harris, Sage senior vice president and general manager, Canada. "It is crucial that small business owners prepare themselves for growth as early as possible. Sage One--Canadian Edition is an online solution that not only allows start-ups and small business owners to be more efficient and save time, but also to stay organized and on top of their business from anywhere, any time."
Sage One is targeted at small businesses owners -- sole proprietors, contractors, service-based businesses, and new and established businesses -- looking for an easy-to-use solution that helps them invoice their customers and get paid quickly. It also provides small business owners with a complete picture of their business: income, expenses and the status of their cash flow. In addition to key features, such as the ability to create quotes and invoices, easily accept online payments from customers, and manage projects and tasks from one dashboard, the Canadian version of Sage One is fully English-French bilingual and will seamlessly track GST/HST and PST/QST on sales and purchases.
The launch of Sage One in Canada comes at a time when many Canadian small business owners need it most, according to the newly released 2014 Sage State of the Canadian Start-Up Survey.
Bruce Croxon of CBC's Dragons' Den has been on the pulse of Canadian entrepreneurs and start-ups for many years. For Croxon, one of the key factors involved in preparing a business for success includes changing the way it operates on a daily basis.
"I hear from Canadian entrepreneurs nearly every day and there is certainly no shortage of great ideas coming from our start-up community," said Croxon. "To truly prepare for success, growing small businesses need to start thinking and acting with the disciplines of a big business. This means keeping track of the state of their business and using data to support the decisions they make on a daily basis."
With Sage One, small business owners can easily create and send customized professional invoices, track income and expenses, pull in bank and credit card transactions straight from their bank, and, ultimately, better serve and gain the trust of their customer base.
Sage One was developed based on feedback from customers and accountants on what they wanted in a web-based accounting and invoicing solution. As customer needs evolve, Sage One will evolve with them and deliver the features that best support Canadian small business' growth.
Sage One is available from Sage at SageOne.ca for $24 per month. The monthly subscription also includes online and phone support.
Sage One Accountant Edition
Launching in conjunction with Sage One is its extension: Sage One Accountant Edition. This is an online solution that allows accountants to view client financial data in real time and is the first online accountant-focused solution from the Sage Accountant Solutions business.
Sage Accountant Solutions is a new business for Sage, focused on creating accountant-focused solutions, education and other resources through dedicated sales, marketing, product management and R&D teams, enabling accountants to better serve their clients.
Sage One Accountant Edition links accountants seamlessly to their Sage One clients with one logon to Sage One. With access to client financial data, accountants will have the opportunity to develop deeper, more meaningful relationships with their clients, providing the proactive business advice that fuels small business growth. Sage One Accountant Edition is offered to accountants at no charge.
Be One with Sage One
The recent Sage Small Business Advertising(1) survey found that 86 per cent of Canadian small businesses stated that attracting new customers is important to their company. To celebrate the launch of Sage One in Canada and to assist in getting new customers, Sage is providing Canadian small businesses the opportunity to win $5,000 in Google AdWords advertising through the Sage Be One Contest. Entrants can also help someone in their small business network win their own $5,000 Google AdWords package by referring them to enter the contest. If the referrer wins, so does his or her contact.(2) Those interested in entering the contest should visit: http://go.na.sage.com/BeOneContestCA. The winning business will be picked at random.
The Sage Be One Contest will run from February 10 through March 7, 2014, with the winners announced on the Sage Facebook page, facebook.com/Sage on March 10.
Sage conducted the Sage State of the Canadian Start-up survey in December 2013 among 500 Canadian small business owners, split evenly between start-up and established entrepreneurs. The margin of error is +/- 4% with a confidence level of 95 per cent.
We provide small and medium-sized organizations with a range of easy-to-use, secure, and efficient business management software and services -- from accounting and payroll to enterprise resource planning, customer relationship management, and payments. Our customers receive continuous advice and support through our global network of local experts to help them solve their business problems, giving them the confidence to achieve their business ambitions. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and entered the FTSE 100 in 1999. Sage has over 6 million customers and more than 12,700 employees in 24 countries covering the UK & Ireland, mainland Europe, North America, South Africa, Australia, Asia, and Brazil.