By Phyllis Mak, RIC Centre’s Communications Intern
BDO Canada, a Canadian Chartered Accountant Firm with over 90 years of history and locations all over the country, has entered into a partnership with the RIC Centre to help develop programs and further support for startup entrepreneurs. Jamie Barron, Technology and Life Sciences Partner at BDO Canada, tells us what we can anticipate from BDO’s new partnership with the RIC Centre.
“BDO will be taking a partnering role and working with the RIC Centre to develop programming that will be impactful to RIC Centre clients,” reveals Jamie. “We’ll be there as financial advisors, working alongside RIC Centre to provide companies with access to the expertise we have developed based on years of our own experience with technology and life-science companies.”
BDO will be helping startup businesses and new entrepreneurs tackle essential business aspects such as grants, incentives, corporate tax structuring, founder structuring, accounting and financial reporting, and global business growth. They provide services in assurance and accounting, tax, and advisory to each client’s industry and unique business.
“We’re here to help these innovative entrepreneurs optimize opportunities for themselves and their companies wherever possible,” adds Jamie.
Jamie identifies some of the things BDO will be helping new entrepreneurs address in their business such as how to set their business up, how to maintain good financial health, and how to manage business, cash flow, and position themselves for growth. Additionally, BDO offers a wide variety of insights and tips on how to avoid common tax and accounting pitfalls that can cause compliance problems or make it more difficult to raise capital. For example, common mistakes made when filing SR&ED claims can delay rebates for months, or even have them denied entirely.
“We’re here to help companies avoid those types of pitfalls,” says Jamie. “We work with the founders to anticipate areas of potential challenge or opportunity in order to position them for the best possible outcomes”.
With their broad range of clients and expertise in a variety of technology and life science sectors across Canada and globally, BDO’s presence at RIC Centre workshops, such as the bi-monthly Startup Boot Camp, can provide much-needed advice and guidance for new businesses. This marks an important collaboration between RIC Centre and BDO.
“It’s not just us telling people what to do,” reveals Jamie. “We’re here to work with the RIC Centre and their EIR’s in a collaborative way, in order to provide these innovative businesses with expertise, insights and programs which have the most impact.”
As an innovation hub in the Peel Region, the RIC Centre is dedicated to helping innovative startup businesses connect with the resources and experts that will help them expand and grow their company. The partnership with BDO will certainly help many new entrepreneurs find their footing in the fast-paced industry.
The technology and life science space is extremely important to us at BDO,” explains Jamie. “We have a full time team of experienced professionals who are dedicated to serving tech companies, and we’re here to make that investment in RIC Centre’s clients.”
“We really are excited to be working with RIC Centre,” says Jamie. “The team at BDO shares the same passion with the people at the RIC Centre— it’s an exciting space and we’re thrilled to be moving this partnership forward together.”
The RIC Centre is looking forwards to working with BDO in 2017! Are you looking for expert advice on your business startup? Interested in specific mentorship and assistance for your company? Sign up for RIC Centre’s March Startup Boot Camp today and see how our advisors can help you out!