Canada Free Trade agreement with Europe takes effect today!

by Dane King on 09/21/17

Great news for the Canadian economy! Great job Mr. Prime Minister!


WSIB New Rate Framework

by Dane King on 09/21/17

WSIB introduces the new Rate Framework, a new WSIB premium rate setting model which may change your WSIB premium remittance:


Clients pay your fees online with PayPal

by Dane King on 09/15/17

Clients, pay your Stratking fees online using Paypal. Click "Buy Now" on our website and fill out the rest

Recommendation for a Venture Loan based purely on strength of the business plan

by Dane King on 09/13/17

My dream of government funding to new businesses based on the strength of the business plan – Venture Loan

By Dane King, CPA, CMA, FMA, DiPM, MCIM

Chartered Professional Accountant and Business Advisor

Stratking Accounting and Tax Professional Corporation


Governments worldwide always talk of the importance of the small business sector for job growth; however when it comes to placing the money where the mouth is, many countries often fall short.

The lending formula is often complicated and involves financial intermediaries who charge high premiums to approve government funded loans.

The objectives of the banks to make a profit then make government money to help small businesses grow even more difficult to get. A and B+ clients who may be able to get funding using their own resources, are easier approved by the Banks and get the money than bright underprivileged entrepreneurs from low income areas or new immigrants willing to start their own business than go work for somebody else.

I would like to recommend that the Canadian government supports the growth of small businesses in Canada purely on the strength of the business plan, which is evaluated by a government agency separate from the mainstream banking system.

In my years as an Accountant and Marketing Consultant I have seen many entrepreneurs have great ideas, strong business concepts, excellent academic backgrounds and past experience, but do not have the capital to get the dream of their new business off the ground. They may also be declined by the Banks based on their tough lending criteria.

On the other hand, we have heard stories of parents, friends and relatives digging in their pockets to give some seed capital to a loved one who have a great idea, when the banks and the government fail to support that entrepreneur with a business loan or business credit line.

I would like to see the government do the same for deserving Canadian citizens even if they do not have good credit or any collateral.

Here are the simple criteria I would suggest the funding to be based on for a “Venture Loan”:

Strength of the business plan based on:

1.     Business concept

2.     Relevant educational background of the applicant

3.     Past industry experience

4.     Leadership skills of applicant

5.     Likelihood of success of the marketing plan

6.     Demand for the product or service

7.     Potential of business to generate new jobs in Canada

8.     Financial feasibility

9.     Demonstration of innovation and creativity

Loan maximum amount of $500,000 to be repaid in 10 years.  This will be a loan pegged to the prime lending rate in effect at the time of the loan. Applicants will sign a standard loan agreement of course, should they be approved. It will finance operating capital and fixed assets expenses.

There will be a standard business plan template to be used by all applicants to level the playing field.

Each of the criteria above will be rated on a point system between 1 -10 (10 being excellent).

Applicants business plans getting an overall 70% rating and above will receive the “Venture Loan” applied for to the maximum of $500,000.

Simple like that! This will make it easier for more people to get funding to start their businesses in Canada.

This is a starting point for discussion. I am sure there will be many with better ideas than myself who can improve upon my suggestion.

I think many people would like to start their own businesses and if they had the start-up money, they would jump right into it.

This suggestion will ensure that dreams come through!


Dane King is the Principal Accountant and Business Advisor with Stratking Accounting and Tax Professional Corporation, the full service accounting firm based in Richmond Hill, Ontario, proudly serving professionals, professional services and financial services firms.

Dane is a Chartered Professional Accountant (CPA), Certified Management Accountant (CMA), Chartered Global Management Accountant (CGMA), Chartered Marketer, Financial Management Advisor (FMA) and Member of the Chartered Institute of Marketing (MCIM). He is a former Lecturer in Accounting and Professor Taxation, Marketing and Retirement Planning.

For over 23 years Dane has been helping businesses grow their profits, reduce taxes and improve the efficiency of their operations and helping individuals grow their wealth.

He can be reached at 1-888-865-3870 ext. 101 or email service@stratkingaccountingandtax.com.





General Accounting Services for New medical practitioners

by Dane King on 09/11/17

New medical practitioners, call Stratking Accounting and Tax at 1-888-865-3870 for accounting and tax services

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