This is the Simple Secret Weapon That Will Take Your Business to the Next Level

This post is sponsored by RBC.

An increasing number of millennials are forgoing traditional corporate paths and starting their own companies.

You may even be one of them (and good for you).

If you are, you know that being a business owner means that you wear many hats – from sales and operations, to finance and HR. Juggling it all, in addition to your own life, is a challenge, to say the least. It’s even more of a challenge to make the time to actually grow your business.


And if your business isn’t growing, neither is your pay cheque.

So, the golden question is: how do you grow your business?

Well, we’ve recently discovered a host of tools for busy entrepreneurs on-the-go – whether you’re working remotely at a café or closing deals on the elliptical – that will help to both manage the daily operations of your business and to grow it. We’re talking about RBC’s Online & Mobile Banking for Business.

This gem of a tool will help you grow and manage the cash flow of your company. RBC allows you to review account activity, pay bills, transfer funds, and even file government remittances such as GST all in one place. Seriously.


The thing is, few people know these affordable and foolproof tools are so easily available.

“While almost everyone today is used to doing their personal banking online, we would say that a good number of businesses tend not to be quite as quick at adopting electronic banking,” says Neil McLaughlin, Executive Vice President, Business Financial Services, RBC.

“Beyond just logging on and looking at your bank statement to track your cash flow, many business owners do not know how many tools they have available to them with just a few clicks of a mouse or taps on a smartphone.”

When it comes to managing your business, it’s all at your fingertips.

Payroll and Money Transfer:

Many people don’t know that they can do payroll remittances directly via RBC’s Online Banking for Business. When it comes to the transfer of funds, RBC’s Online Banking for Business enables you to transfer funds to anyone holding an account with a Canadian financial institution through an Interac e-Transfer.

The system makes it simple to make electronic payments to employees, vendors and others at any financial institution in Canada using the Pay Employees and Vendors service. You can also pay bills, electronically including telephone, utility, and property taxes.


Expand Across Canadian Borders:
If you’re in the market to expand your business beyond Canadian borders, RBC’s US Business Deposit Account and US Business Credit Card is a great option for business owners to manage their foreign exchange needs in a cost effective way. It enables you to view Canadian and US business accounts on one page to check balances and transactions for Canadian and/or US dollar accounts and business credit card accounts, and also allows you to transfer funds between them.

Free Mentorship and Advice:
Speaking of doing business overseas, you may want to take advantage of the free advice offered by the local business advisor at your branch. They can help you choose the right approach to doing business internationally like managing foreign exchange fluctuations.  And if you need cash flow advice or ideas on ways to reach new clients, RBC business advisors will ask the right questions to get to know you and your business and help you prepare for growth.  As your trusted advisor, they can also help you service the payment needs of your customers. Things like allowing your customers to choose between debit, credit or cash to help you make the sale on the spot.

“You can look at your bank advisor like an accountant; a mentor who can help the business owner pause and reflect on where their business is going and where they want to take it online,” says McLaughlin. “We want to help our client realize their vision and provide advice and solutions that will help the business owner get there.”

File Taxes:
One of the most useful features of RBC’s Online Banking for Business is the Online Tax Filing Service, which allows you to file taxes and make GST/HST payments and payroll source deduction remittances 24 hours a day, seven days a week (and yes, we know this could have come in handy for many business owners over the past month).


We told you it was convenient. Not to mention, it couldn’t be easier to use. The navigation and financial tools are virtually foolproof.

“Taking advantage of online banking tools already at your fingertips can really help you to expand,” says McLaughlin. “It simplifies your day-to-day financial operations so you can focus on growing your business.”

So, what are you waiting for?

If you aren’t taking advantage of all the offerings of your online banking, you should. The best time to grow your business is now – in real time. All you need is an Internet connection and a phone or computer to make your business’ next major move.

You’re welcome.