Blog – What is next for Small to Medium-Size Businesses in Canada – September 2021 1. CFIB recovery - https://www.canadianmanufacturing.com/federal-election-2021/congrats-to-new-government-mps-now-lets-get-to-work-cfib-says-273393/ 2. All levels of government need to address issues with their fiscal management cycle - https://www.slideshare.net/paulyoungcga/canada-public-sector-government-what-is-next 3. Addressing issues with small to medium-size businesses - https://www.guelphmercury.com/news-story/10481346-canada-s-business-associations-have-some-advice-for-the-new-parliament/ 4. Better policies that encourage business investment - https://www.theepochtimes.com/canadas-lag-in-business-investment-foreshadows-lower-worker-incomes-report_4004660.html 5. Addressing issues with housing through better government policies - https://economics.td.com/ca-housing-starts 6. Addressing issues with innovation - https://www.theglobeandmail.com/business/commentary/article-canada-needs-a-real-innovation-strategy-now/ 7. Adoption of digital - https://www.forbes.com/sites/boblegters/2021/09/15/small-businesses-search-for-cash-begins-and-ends-with-fintech/?sh=12c354acd142 8. New normal - https://torontosun.com/news/provincial/passport-panic-sets-in-as-businesses-braces-for-a-new-policing-role 9. Household debt - https://mnpdebt.ca/en/resources/mnp-consumer-debt-index 10. Climate Change - https://www.pentictonherald.ca/news/national_news/article_301c55db-e661-5da9-ac91-da4c40ef5526.html There should be no clusters. All Universities and Colleges should receive grants base on # of students (F/T and P/T) Training Credits Refining stock market capitalization Streamlining of taxes and regulations. https://www.slideshare.net/paulyoungcga/path-to-innovation-for-canada-244663371

1. WHAT IS
NEXT FOR
SMALL TO
MEDIUM SIZE
BUSINESSES -
CANADA
Paul Young CPA CGA
September 22, 2021

2. PAUL YOUNG - BIO
• CPA, CGA
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
Youtube - https://www.youtube.com/user/youngercga1968/videos

3. AGENDA
• New compilation standard
• GDP Growth / July 2021
• Top technologies for 2021
• Top Risks
• Supply chain disruption
• Sales Tax and taxation compliance
• Skills Gaps
• Debt
• Pandemic Recovery
• Summary

4. NEW COMPILATION STANDARD
Source - https://www.cpacanada.ca/en/business-and-accounting-resources/audit-and-assurance/standards-
other-than-cas/publications/new-compilation-standard-guidance-resources
Blog - New standard on compilation engagements: What does it mean for tax work -
https://www.linkedin.com/pulse/blog-new-accounting-reporting-standard-compilation-what-paul-young

5. GDP GROWTH / JULY2021
Source - Scotiabank

6. GDP
FORECAST
forecast_20210723.p
df

7. TOP TECHNOLOGIES FOR 2021
Source - https://www.simplilearn.com/top-technology-trends-and-jobs-article
1. AI and Machine Learning
2. Robotic Process Automation
3. Edge Computing
4. Quantum Computing
5. Virtual and Augmented Reality
6. Blockchain
7. Internet of Things (IoT)
8. 5G
9. Cybersecurity
Blog - Brands are redefining customer experience by adopting a
digital-first approach - https://www.linkedin.com/pulse/blog-
brands-redefining-customer-experience-adopting-paul-young
My work on small to medium-size businesses adoption of
technology
https://ibm.box.com/s/gddg93fwok0zx36ew41vpynz827qprvw
My work on fintech
https://ibm.box.com/s/qgrelz31w3i7qwdq5jn489odhj9keuh4

8. TOP RISKS FOR 2021
Source - https://globalcompliancenews.com/top-10-op-risks-2021-11032021/
More needs to be done to mitigate these geopolitical events.
https://www.slideshare.net/paulyoungcga/how-to-better-manage-
geopolitical-events
Blog - CFOs reporting greater optimism, appetite for risks – Survey -
https://www.linkedin.com/pulse/blog-cfos-reporting-greater-optimism-
appetite-risks-paul-young/?published=t
Blog – Fraud Risk in the Digital Age -
https://www.linkedin.com/pulse/blog-fraud-risk-digital-age-paul-
young/?published=t
There is a movement by IASB to standardized sustainable reporting.
Here is my work on data, AI, and Platform can play a key role when it
comes to reshaping risk policies for both the public and private sectors.
https://www.slideshare.net/paulyoungcga/why-there-needs-to-be-
audited-reports-of-crisis-emergency-management-policies-and-
procedures

9. SUPPLY CHAIN DISRUPTION
Source - https://supplychaingamechanger.com/top-10-global-supply-chain-risks/
How can the world mitigate risks with supply chain?
https://www.linkedin.com/pulse/world-going-see-more-
supply-chain-disruption-due-events-paul-
young/?published=t
Blog - 6 Ways Leading Organizations Are Revitalizing Their
Supply Chain - https://www.linkedin.com/pulse/blog-6-
ways-leading-organizations-revitalizing-supply-paul-
young/?published=t
Blog - Data Is Driving Decision Making in the Supply Chain
- https://www.linkedin.com/pulse/blog-data-driving-
decision-making-supply-chain-paul-young/?published=t
Blog - America Needs a Manufacturing Strategy -
https://www.linkedin.com/pulse/blog-america-needs-
manufacturing-strategy-paul-young/?published=t’

10. TOP SALES TAX COMPLIANCE ISSUES
Source -
https://www.avalara.com/us/en/learn/whitepapers/sales-
and-use-tax-audits-in-2021.html or
https://paddle.com/blog/global-sales-taxes-for-software-
companies-what-you-need-to-know-to-sell-
internationally/
• Online sales tax collection -
https://www.cpapracticeadvisor.com/sal
es-tax-
compliance/news/21215366/retailers-
still-challenged-by-wayfair-and-
marketplace-sales-tax-laws
• Lack of sales tax certificates (exemption)
• Self-assessing sales tax for personal use
items
• Complexity of sales tax filings
Great work by Accounting Today to provide an overview of
how technology is being embraced as part of the external audit
cycle for financial statement filing.
Blog – A new eye on audit quality using Data and AI -
https://www.linkedin.com/pulse/blog-new-eye-audit-quality-
using-data-ai-paul-young/?published=t

11. SKILLS GAPS
Blog – Digital Skills and Labor Shortages are the #1 issue facing Businesses
Canadian businesses are struggling to find workers with digital skills as the pandemic continues to
accelerate technology adoption and automation, a new survey has found.
The KPMG business outlook poll released on Aug. 31 found the inability to find and retain talent was
identified as the No. 1 threat to the growth prospects of businesses across the country.
Nearly 80 per cent of businesses polled said the pandemic changed the way they work, and they now
need more workers with IT skills.
Source - https://www.canadianmanufacturing.com/manufacturing/digital-skills-shortage-lack-of-skilled-labour-
no-1-issue-for-businesses-according-to-kpmg-poll-272778/
My work:
https://www.slideshare.net/paulyoungcga/human-capital-what-is-next-for-education-and-training-249991913

12. DEBT
Source -
https://www.canadianmanufact
uring.com/financing/small-
businesses-continue-to-
struggle-with-debt-cfib-says-
272750/

13. 2021 – POST
ELECTION –
CFIB
Source -
https://www.canadianmanufact
uring.com/federal-election-
2021/congrats-to-new-
government-mps-now-lets-
get-to-work-cfib-says-273393/

14. HOW TO ADDRESS PRODUCTIVITY
ISSUES
• The federal government needs to re-think it’s job cluster approach to innovation. There needs to better support for small to
medium-size businesses as part of supporting taking ideas from incubation to market. This means all post-secondary schools
should be incubation centers.
• Canada has struggle with productivity issues for better part of 30 years. More needs to be done to address areas like tax and
regulatory reforms or building of resilient supply chain within Canada or addressing issues with innovations or better
programs/policies that support the circular economy or addressing the skills gaps or changes to capital cost allowances.
• All levels of government need to work together as part of protecting the environment as part of growing the economy in a
sustainable way.
• 2016 https://www.slideshare.net/paulyoungcga/2016-november-2016-gdp-gross-domestic-product-canada
• 2018 https://www.slideshare.net/paulyoungcga/gdp-canada-the-real-truth
• Competitiveness - https://www.slideshare.net/paulyoungcga/how-to-improve-canada-global-competitiveness-250054392
• Jan/21 – GDP https://www.slideshare.net/paulyoungcga/gdp-analysis-and-commentary-canadajanuary-2021

15. SUMMARY
• I have written many articles on the challenges faced by small to medium
size businesses -
https://ibm.box.com/s/gddg93fwok0zx36ew41vpynz827qprvw
• Stay open plans - https://www.newswire.ca/news-releases/no-more-
lockdowns-small-firms-urge-provinces-to-adopt-stay-open-plans-with-
new-petition-804699379.html
• Tax cheats - https://financialpost.com/executive/c-suite/did-justin-
trudeau-unfairly-smear-small-business-owners-as-tax-dodgers
• No mentioned that key minister has a tax issue -
https://www.blacklocks.ca/guilbeault-didnt-pay-taxes/ Did @s_guilbeault get
special treatment by CRA? https://www.slideshare.net/paulyoungcga/how-to-fix-
the-goverance-model-for-the-public-sector-government-249941842
• Capital Investment - https://www.fraserinstitute.org/studies/an-
international-comparison-of-capital-expenditures
• My work on GDP - Despite all the deficits the economy continues to face
major headways for the rest of 2021. It goes to show Canadians that
economies do not grow from the heart as @JustinTrudeau predicted a few
years ago! https://www.slideshare.net/paulyoungcga/gdp-canada-
analysis-and-commentary-june-2021