Equipment leasing – things you always wanted to know

Have you ever wondered about what is involved in leasing (or financing) equipment?  I chatted with Danilo (Dan) Terra of Leasex Financial this morning and we covered lots of ground.  Dan is quite optimistic about the current economy here in Alberta and is excited to see the growth that is happening with his clients.  Having been an ex-banker Dan has been able to become a specialist in equipment leasing and financing and he shares his opinions, thoughts and advice on our Google Hangout.

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Is your balance sheet a junk drawer or garage?

I chatted this morning with Calgary based consultant and CA, Brad Celmainis about small business finance.  Brad is an accountant with a great personality who thrives on helping small businesses.  In addition to being somewhat of an Instagram celebrity (click here for his account) Brad specializes as a contract CFO and/or controller.  We chatted about some basic finance topics that every small business owner should consider including why a balance sheet is so important to review on a regular basis and clean-up as necessary.  Brad drew a comparison based on his experience that many business owners treat a balance sheet like a junk drawer or a garage – lots of items in there but no one really knows what they are.

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Do you really need an investor for your business?

I had a great meeting with a new contact yesterday who was seeking some financing for her business.  When asked what the funds were for she advised that the money would be used for marketing.  Her business has already had a small measure of success and has accumulated a few hundred interested prospects and a handful of customers.  Her reason for wanting to spend money on marketing the business was to try and drive more people to the front door of her business.  I have heard different versions of this story from many entrepreneurs and businesses including Bridge Capital who has had outside investors.

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