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3 Pieces of Advice OptionsSwing Inc. Wants to Share With Fellow Fin-Ed Entrepreneurs

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Starting any type of business and seeing it grow and survive is hard. Entrepreneurs go into their ventures prepared to see them fail, even though they always have to give their all to stop that from happening. Saying that it’s a gamble would take it too far, but entrepreneurship is nevertheless a risky business.

Still, there are plenty of resources entrepreneurs can use to boost their business’s chances of succeeding. Experiences from their fellow enterprises who have been there, done that, and lived to tell the tale are invaluable.

For entrepreneurs looking to start a financial education company, here are three pieces of advice from the founders of OptionsSwing, the fin-ed company that’s the darling of Instagram users.

Now Is the Best Time to Start

It could be argued that there’s never a better time than right now to get started on a substantial project. In this case, however, the “now” refers to an extremely specific time in the history of the world: the COVID-19 pandemic.

The full effects of the pandemic cannot be known while it’s still ongoing. It will probably take years and years after the world brings it under control until anyone will be able to even assess how much damage and suffering this virus has caused.

Some effects, however, are painfully obvious right now. One of them is that people are becoming either unemployed or underemployed. A number of them have been turning to the stock market in the hopes they’ll be able to use it as an additional revenue stream. Starting a digital subscription business at a time like that is great, but so is sharing the knowledge that can help people stay afloat.

Be Proactive With Tech Investments

In many cases, waiting for something to happen and then reacting to it is the best way to deal with challenges. When there are too many unknowns ahead, trying to cover them all can become impossible, impractical, or simply too distracting from whatever’s going on in the here and now.

Investing in expanding one’s problem-solving capacity is a whole different beast, though. Tech is a great example of it; investing in it early on means that entrepreneurs won’t have to scramble for resources when they desperately need them. The tech will be there, allowing them to focus on the problem they’re having.

Tech might be the most obvious example for laying the groundwork for future problem-solving capabilities, but the same advice can be extrapolated further. Investing in any resource that’s especially useful in critical times is a good use of money.

Trust People to Do Good Work

While it’s possible to see many one-person operations in the world of business, when it comes to scaling and growing, “the more, the merrier” is the correct motto. Talent procurement in startups is a big deal because, often enough, the quality of the talent has to compensate for the lack of resources.

Even entrepreneurs who believe in their singular vision and don’t want anyone to meddle with their ideas could use help now and again. Delegating work to other people and believing that they’ll do a good job might prove to be necessary for the business’s survival. At the very least, it will be a great way for the controlling entrepreneurs to learn to relax, better handle the uncertainty of someone else’s work, and build healthier relationships with the people around them. It’s a win on all fronts.

To keep up with OptionsSwing, follow them on Instagram at @optionsswing.

Rosario is from New York and has worked with leading companies like Microsoft as a copy-writer in the past. Now he spends his time writing for readers of BigtimeDaily.com

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Business

Why Multi-Province Payroll Compliance Is the Hidden Challenge Canadian SMBs Face and How Folks Solves It

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Photo courtesy of: Folks

Byline: Shem Albert

Running payroll in Canada can feel like crossing a country stitched from many different fabrics. Each province weaves its own pattern of tax rules, leave policies, and benefit requirements, creating a landscape where a single misstep can ripple through every paycheck. For small and mid-sized businesses, the challenge often remains hidden until growth pushes hiring beyond provincial borders or brings remote workers into the fold. What seems like a routine back-office task quickly becomes a test of accuracy, timing, and local knowledge. This is the gap that Folks set out to close, offering a way for employers to navigate Canada’s regulatory patchwork without slowing their momentum.

Provincial Rules Add Complexity

Canada’s payroll environment varies sharply by province. Federal rules set the foundation, but provincial tax rates, deductions, statutory leave entitlements, and benefit premiums add layers of complexity that employers must monitor carefully. Small and mid-sized businesses with staff across provinces or remote employees face different tax tables, reporting deadlines, and leave calculations that directly affect pay accuracy and remittance schedules.

Folks built its payroll module to address these differences. The platform calculates the correct provincial tax rates and deductions for each employee, applying updates automatically so employers avoid misapplied withholdings or late filings. Multi-location tax management allows a company with workers in Ontario, Quebec, or several other provinces to process payroll without creating separate accounts for each jurisdiction. Bilingual functionality in English and French and secure Canadian data hosting support compliance while keeping employee records accessible across language and regional boundaries.

Unified Records Improve Accuracy

Payroll errors often stem from mismatched employee data. Changes in pay rates, banking details, or benefits eligibility may not align between HR and finance systems, creating incorrect deductions or delayed payments. Smaller teams juggling separate platforms spend valuable hours reconciling information instead of focusing on strategic work.

Folks resolves these issues by combining HR and payroll in one platform. Updates to wages, hours, or tax information entered on the HR side flow directly into payroll without re-entry. This single, verified record strengthens the accuracy of every payroll run and ensures employees receive the correct pay and deductions. By removing the need for repetitive administrative work, HR staff can redirect their time to tasks that support growth and employee engagement.

Automation Keeps Provinces in Step

Each province sets its own requirements for holiday pay, pay frequency, and statutory benefits, making manual calculations both time-consuming and error-prone. Businesses that expand or hire remote employees must keep pace with shifting provincial regulations or risk penalties and audit issues.

Folks address these demands with automation designed for Canada’s regulatory landscape. Pay statements, deduction calculations, and custom pay schedules follow the applicable provincial rules without extra configuration. The system’s automated updates mean that a company hiring staff in British Columbia or Quebec can meet local payroll standards without adding new layers of setup or monitoring. Employers gain the ability to expand into new regions while maintaining accurate, on-time pay.

Reporting Strengthens Compliance

Changing tax rates and reporting requirements require ongoing attention from HR and finance teams. Companies that rely on disconnected systems risk missing a provincial update or submitting incorrect remittances, which can lead to fines and interest charges.

Folks provides detailed reporting tools that compile payroll, deductions, and benefits information across all locations. Employers can generate clear remittance and deduction summaries, simplifying the process of meeting provincial filing requirements. For organizations that want additional guidance, Folks also offers a payroll management service that brings in-house specialists to assist with configuration, compliance, and regular updates. These reporting features help companies stay audit-ready and avoid costly compliance gaps.

Scalable Payroll for Expanding Businesses

Many small businesses begin in a single province, where local tax and payroll demands can be learned over time. Growth into new provinces or the decision to hire remote staff adds a level of complexity that manual processes cannot handle efficiently. Errors multiply, compliance risks rise, and payroll teams spend more time correcting mistakes than supporting expansion plans.

Folks provides payroll that scales with company growth. Provincial tax logic, automated deductions, bilingual support, and secure Canadian data storage are built directly into the platform. By maintaining an accurate employee record and applying province-specific rules automatically, the system allows Canadian SMBs to expand with fewer administrative surprises and more predictable payroll operations. Companies gain the stability of compliant payroll across provinces while controlling the time and costs that typically accompany multi-jurisdiction growth.

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