Mikel Arteta hails "landmark" Champions League win but Arsenal dealt injury concernA BCIT graduate from Richmond was awarded BCIT’s 2024 Outstanding Student Leadership award. Sally Poon, a 2023 graduate of the Computer Systems Technology program, was recognized for her leadership and community involvement during her time at BCIT. Although she wasn’t able to attend the awards ceremony on Nov. 14, Poon said she was surprised and honoured to receive the award. Poon, who grew up in Steveston, served as treasurer and director of communications for Women in Computing, a student-run club promoting the representation of women in the technology sector. This was one of her most meaningful initiatives, helping to break down barriers for women in tech. Starting off with computing in a predominantly male-dominated course at UBC was intimidating, as Poon doubted her knowledge compared to her peers. “I felt very intimidated, and I wanted to be a part of the process of demystifying this ‘oh, it can be very scary to be a woman in the field’,” said Poon. “ I think it's improved a lot now. I think just building that sense of community where people feel safe; that was very important to me.” Poon was also the co-president of the computing club, where she developed a coaching program for students and organized a hackathon event. Reaching the position of chair of the downtown campus’ student association, some of her other significant initiatives range from organizing a panel at the institute’s Tech Collider, an event space on campus, to a de-stressing event for students. “BCIT is known for very rigorous programs, because everything’s very condensed to get students ready for the working field,” said Poon. “But I think we stopped to remember to give some time for ourselves, to zoom back in... take a breather; and that can actually make us a lot more productive.” Now working as a software engineer with Okta, a San-Francisco based software development company, Poon gave some advice to those wanting to take on leadership positions – go for it and give it a try. “No one's going to shake their head at you for giving something a try,” she said. “If you are going to reach out and participate, I think it's really well worth it.” “The people that you meet along the way with the same mindset are always going to be fantastic people that you can keep in your life.” Got an opinion on this story or any others in Richmond? Send us a letter or email your thoughts or story tips to [email protected] . To stay updated on Richmond news, sign up for our daily headline newsletter . Words missing in article? Your adblocker might be preventing hyperlinked text from appearing.
Key Takeaways In 2023, a survey looked at Nevada business owners and the biggest challenges they faced. Entrepreneurs listed problems like adapting to inflation, finding new customers and managing cash flow. The problems varied somewhat, but all of them centered around money difficulties. The reality is that small businesses tend to face more financial challenges since they have fewer resources than larger companies. It's easy to make mistakes, especially toward the end of the year when things are busy. Let's look at six common end-of-year financial mistakes entrepreneurs make and how you can avoid these issues. Related: 6 Financial Mistakes Small Businesses Make All the Time 1. Not monitoring your finances regularly Many entrepreneurs make the mistake of not monitoring their business finances regularly. They may delegate this responsibility to someone else and have little insight into how the company is doing. Working with financial professionals is a good thing, but you need to have some understanding of your company's finances. Failing to monitor your finances can leave your business more vulnerable to cash flow issues and fraud. It'll also be harder to make informed decisions about hiring and long-term investments. To avoid this mistake, review your financial statements regularly and stay on top of metrics like your cash flow, working capital and net profit margin. 2. Not planning for taxes Tax season comes once a year, but if you're a small business owner, you should be planning for taxes all year round. Adequate tax preparation will make tax season much less stressful and help you avoid unnecessary fines and penalties. According to the IRS , one of the biggest mistakes many businesses make is underpaying their quarterly estimated payments. If you underpay throughout the year, you may get hit with a penalty. It's a good idea to work with an accountant who can let you know how much you owe quarterly. Another common mistake businesses make is failing to separate their business and personal expenses . Doing this can cause you to miss out on deductions and can generally just become a huge headache when it comes time to file your taxes. Make sure you have a separate bank account and credit card for all business expenses. The right accounting software allows you to track and categorize these expenses and will automatically generate financial statements for you. 3. Not accounting for end-of-year expenses When you're doing your financial forecasting, it's important to account for one-off, end-of-year expenses. For example, you may need to pay for a holiday party and Christmas bonuses for your employees. Your business may need to purchase additional inventory to account for the increased demand from customers. You may also want to invest in an end-of-the-year marketing push. Because these expenses fall outside of your normal financial planning, it's easy to underestimate the impact they'll have on your budget. Plus, bonuses and marketing campaigns tend to be variable costs, making them harder to plan for. You can anticipate these costs by reviewing your company's expenses from the previous year or two. Related: 9 Must-Do End of Year Tasks for All Business Owners 4. Avoiding all debt Many people grew up learning that debt is a bad thing and should be avoided at all costs. And in your personal life, that's probably true in many cases. But as a business owner, debt can be a tool you can strategically use to grow the business. For example, a small business loan or line of credit can allow you to purchase inventory or make a major investment in your business. Just make sure the purchase fits with your long-term business goals and that you have a plan for paying it back. 5. Neglecting inventory management If your business sells products, inventory management will be key to your financial success. Having too much or too little inventory can lead to cash flow problems, lost sales and customer churn. Inventory management issues usually happen because businesses are relying on spreadsheets or manual tracking and don't have real-time insights into their inventory. The best way to solve this problem is by using inventory management software. The right software allows you to make data-driven decisions and save money by eliminating excessive stock levels. It can also make it easier to negotiate with suppliers and meet fulfillment orders. 6. Going into the new year without a financial plan If you want your business to continue to grow, you need a plan and specific goals on how you'll achieve that plan. The end of the year is a great time to sit down, review the previous calendar year and come up with a financial plan for the year ahead. Review your balance sheet, income statement and cash flow statement to spot any financial trends in your business. Make sure your accounts receivable are up-to-date, and review your vendor contracts. It's also a good idea to review your insurance policies to ensure your coverage is keeping pace with your business's growth. Related: Avoid These 10 Mistakes Entrepreneurs Make With Money Once you understand where your business is at, you can begin planning for the new year. There are no guarantees in business, but adequate financial planning is the best way to ensure your business has the resources to meet its goals.Kylian Mbappe’s spot-kick woe goes on as Real Madrid lose at Athletic Bilbao
Saquon Barkley is the NFL's version of Shohei Ohtani: AnalysisInvesting your annual $7,000 Tax-Free Savings Account (TFSA) contribution limit is one of the smartest financial decisions you can make. Deciding how to allocate it effectively is key to building wealth over time. With no taxes on the growth or withdrawals, a TFSA offers the perfect opportunity to grow your investments without worrying about the taxman. Let’s dive into why a mix of solid , exchange-traded funds (ETF), and blue-chip performers like ( ) makes sense, especially given RY’s impressive earnings performance. Options to choose The first rule of investing in your TFSA is diversification. Spreading your investment across multiple assets helps manage risk and creates stability. Think of your portfolio as a team. Each player has a role, and together, they can win the financial game even if one teammate falters. This approach not only reduces risks but also takes advantage of different sectors’ potential growth. Now, when it comes to Canadian blue-chip stocks, Royal Bank of Canada is often a standout. RBC stock is Canada’s largest bank by market capitalization—a position it’s held for years due to its strong financial performance and diversified operations. From personal and commercial banking to wealth management, insurance, and capital markets, RBC stock has its hands in almost every aspect of finance. This diversification is a major strength because it ensures the bank’s earnings aren’t overly dependent on one business segment. Speaking of earnings, let’s look at RBC’s recent results, which continue to solidify its reputation as a top-tier investment. In its latest quarterly earnings report (Q4 2024), RBC stock posted a 17.7% increase in adjusted net income, reaching a whopping $4.44 billion. This stellar growth was driven in part by its acquisition of HSBC’s Canadian operations earlier this year. This brought in 780,000 new clients and significantly expanded its mortgage and corporate loan portfolios. The integration of HSBC’s operations is already proving to be a game-changer, adding both scale and revenue to RBC’s core business. Considerations Looking ahead, RBC stock is positioned for continued growth. Its strategic acquisitions, strong balance sheet, and diversified revenue streams provide a solid foundation. trailing annual dividend yield of 3.15% and forward yield of 3.23% are especially appealing for TFSA investors seeking reliable income. With a payout ratio of just under 49%, RBC stock maintains ample room to continue rewarding shareholders while reinvesting in growth. For your TFSA, allocating a portion of your $7,000 to RBC stock could be a winning move. Its consistent performance, strong dividend history, and growth potential make it an anchor for any portfolio. Pairing RBC with a low-cost ETF would add diversification. Another advantage of choosing RBC stock for your TFSA is its resilience in uncertain markets. Over the past year, its stock has risen significantly, with a 52-week range between $123.44 and $179.86, nearing its high again after a brief dip. This performance demonstrates investor confidence and RBC stock’s ability to thrive even when economic headwinds arise. It’s not just a safe choice. It’s a smart one. Bottom line The TFSA is a financial powerhouse when used wisely. By investing in blue-chip giants like RBC stock alongside diversified ETFs, you create a balanced portfolio that generates income, capital gains, and peace of mind. Whether you’re saving for retirement, a big purchase, or simply growing your wealth, your TFSA contribution limit is an opportunity you shouldn’t pass up. With RBC stock’s strong fundamentals, robust dividends, and future outlook, it’s a perfect place to start.