Connect with us

Business

A Clear Vision Makes The Arduous Journey Easier And Less Stressful – Says Rahul Saggu

mm

Published

on

The path to success in business and life is filled with so many hurdles and trials. We are faced with situations that test us, wanting us to prove ourselves in the battle of life.

When these hurdles come at us, do we give up or stay strong? How do we continue moving even when there is no strength to keep moving? Do we change course or stay on course?

Rahul Saggu is the COO of ModernDay Cannabis, equipped with years of experience in mortgage and commercial lending. Rahul lost his father when he was 24, and forced to go through most of his adulthood with his father. Rahul says that whenever tough situations hit him, he asks himself, ‘what would my father have done in this situation?”

Young entrepreneurs are faced with tough situations that make them question the validity of their business ideas. The statistics show  – quite unflatteringly – that many businesses end a few years after they are started.

‘While the statistics don’t look encouraging, there are lessons young entrepreneurs can learn from these failures: Have a clear vision with the right team around you; it helps make the journey less tiring,” Rahul advises.

Does it mean that those businesses that failed were visionless? 

No, they were not visionless. Maybe some were, but others had a vision. However, the problem was that many of these businesses lost sight of the vision of the business and lost steam along the way. The idea wasn’t solid, the team wasn’t good enough, financial projections were not looking good etc. There are a myriad of reasons why businesses fail. 

However, to stay afloat in the ever-competitive business world, Rahul feels that entrepreneurs need to keep the vision before them and be able to solve a big problem. A company’s vision is more than the ‘vision statement’; it is why an entrepreneur started the business. A vision encompasses the company’s core values and ethos.

Because of the hurdles that will come to every business, every successful venture must have a vision board. A vision board is a board where the enterprise’s visions are clearly stated and defined—the vision board highlights where the company seeks to get to in the future.  

Regularly checking the vision board strengthens an entrepreneur to keep pushing amidst high and rough storms. The vision is the internal motivation that continues to buoy the entrepreneur.

Rahul says that his father’s lessons on hard work were interlaced with thoughts and visions on staying with the vision. Rahul works out everyday and is always looking to expand his businesses and get into new ventures that align with his vision/goals.

To follow Rahul Saggu‘s journey and get first-hand info, click his covers on Instagram, LinkedIn and Facebook today!

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

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

mm

Published

on

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.

Continue Reading

Trending