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January 25, 2018

Financial Consultants and How they can Help Businesses

How Utilizing Services of a Financial Consultant Can Prove to be Helpful for a Business?

A financial consultant plays a valuable role when you are planning to grow your business and can provide valuable guidance which will help you grow your business. In this context, we will look at few of the important tasks a financial consultant can help you with and assist you with moving on the right path. So, let us delve into the details in the following sections.

Role of Financial Consultant in Business Success

When You Want to Open an Office in a Different Province

financial consultantBefore you move ahead with your plans of opening an office in a different province, it will be important for you to understand all associated regulations and adhere to them. 

This is where the role of a financial consultant becomes important since the person will have a thorough knowledge of all the regulations and as such, will be able to guide you properly on steps you should take.  For instance, before you can open an office in another province, you will have to complete registration which is known as extraprovincial business registration in the new jurisdiction. 

Another method to utilize will be of incorporating federally but even then it will be necessary to register in all the provinces where you want to do business. 

A financial consultant is fully aware of these regulations and will be able to help you successfully complete the registration process as well as the process for incorporating your business federally (in case, you decide to do so).

When You Want to Launch a Website

You will not require any special licenses or permits for starting a website but, there is certainly some legislation related to how the website is to be operated. A financial consultant will help you follow those legislations. For instance, in case your website will collect sensitive data from customers then your site will have to follow the international as well as Canadian privacy laws. 

In Canada, it will be necessary to follow the rules laid out in the Personal Information Protection and Electronic Documents Act (PIPEDA) and your financial consultant will be the right person to help you understand as well as adhere to these laws.

In similar fashion, if the aim of your website is to send emails as part of the marketing campaign then you will have to strictly follow anti-spam regulations. Likewise, it will be important to stick to rules laid out in COPPA (Children's Online Privacy Protection Act) which governs the manner in which data can be collected from small children.

When You Want to Create a Franchise Model

It is quite likely that you will feel interested in utilizing your business idea for creating a franchise model.  This model can, in turn, be sold to interested parties. However, it is worth mentioning here that there are specific regulations that are to be followed when you want to create a franchise model and in addition to it, there are tax rules that you need to remain aware of.  A financial consultant can provide you right information so that you can decide whether creating such model will be right for you or not.

Conclusion

To conclude we will say that service of a financial consultant can be helpful for you in several ways and help your business flourish.