Managing a Successful Business in Canada

Janet Arnett is the former campus manager of adult education at Ontario’s Georgian College. She is the author of Antiques and Collectibles: Starting Small, The Grange at Knock, and 673 Ways to Save Money.

The word “small” is missing from the title but definitely not from
the text or intent of this work. Successful small business management,
according to Tony Fattal, involves concentrating on core business, tight
budget control, good administrative practices, and managed growth.

The emphasis is on the components of financial management: budgets,
profit-and-loss statements, balance sheets, accounts receivable,
cash-flow forecasting, income statements, pricing, depreciation, and
cost allocation. Explanations and examples of these business essentials
dominate the work, with lesser billing given to such side issues as
working with consultants, ISO9000, marketing, and hiring and firing
staff.

Although probably light reading for accountants, for the rest of us
this is heavy going. It is dense with facts, and explanations are often
skimpy. The few attempts at realism through scenarios ring false, more
of a diversion than clarification. There are lots of other books that do
a better job of explaining small business financial considerations.