{"id":57400,"date":"2023-03-03T16:20:00","date_gmt":"2023-03-03T16:20:00","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/5-things-businesses-should-consider-in-a-higher-interest-rate-environment\/"},"modified":"2024-09-04T09:47:19","modified_gmt":"2024-09-04T13:47:19","slug":"5-things-businesses-should-consider-in-a-higher-interest-rate-environment","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-planning\/5-things-businesses-should-consider-in-a-higher-interest-rate-environment\/","title":{"rendered":"5 Things Businesses Should Consider in a Higher Interest Rate Environment"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/commercial-insights\/\">\n\t\t\t\t\t\t\t<span>Commercial Insights<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">5 Things Businesses Should Consider in a Higher Interest Rate Environment<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Diane Amato<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-03-03T113452.898-1.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Women business owner working in her craft business\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-03-03T113452.898-1.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-03-03T113452.898-1.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-03-03T113452.898-1.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=5 Things Businesses Should Consider in a Higher Interest Rate Environment &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-planning\/5-things-businesses-should-consider-in-a-higher-interest-rate-environment\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-planning\/5-things-businesses-should-consider-in-a-higher-interest-rate-environment\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published March 3, 2023 \u2022 5 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>Today&#8217;s interest rate environment is a game-changer for many businesses \u2014 on many levels. For highly leveraged businesses, the increased cost of borrowing may put a perceptible squeeze on the operating budget. For those with investable assets, there&#8217;s an opportunity for growth.<\/p>\n\n\n\n<p>Here are five ways to weather the downside of higher rates and take advantage of the upside where you can find it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Re-think your savings strategy<\/h2>\n\n\n\n<p>While many business owners parked excess cash in their business bank account to help ride out the pandemic, additional funds may have a better home today. Years of low interest rates have delivered minimal growth for GIC investors; but, as rates have risen, more competitive GIC rates offered by financial institutions mean more attractive returns for a safe, fixed-rate investment.<\/p>\n\n\n\n<p>If you accumulate funds from recent sales and contracts, consider a savings strategy with flexible terms \u2014 whether your goal is to earn interest while the funds are sitting in your account in the short term or to actively shore up your savings for future capital equipment or anticipated expenses in the mid- to long-term,&#8221; advises Joanne Ironside, Senior Relationship Manager Business Markets at RBC.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Focus on what you can control<\/h2>\n\n\n\n<p>You can&#8217;t control interest rates \u2014 and trying to predict them isn&#8217;t viable either. So, if higher rates are eating into your bottom line, it&#8217;s a good idea to try to offset them with lower expenses elsewhere in your business. Here are a few ways to find savings:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Reduce your fixed and variable costs.<\/strong> Consider if there are ways to downsize your office space, optimize your inventory or negotiate terms with your suppliers that can boost your cash flow.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Read <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/5-tips-to-help-find-hidden-savings-and-offset-rising-business-costs\/\" data-dig-id=\"LP-11300-3e28bc35\" data-dig-label=\"&nbsp;5 Tips to Help Find Hidden Savings and Offset Rising Business Costs\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">5 Tips to Help Find Hidden Savings and Offset Rising Business Costs<\/a>&nbsp;for more ways to help maintain profit margins in today\u2019s environment.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Assess your business credit cards and loans.<\/strong> Try to save on interest costs by paying your balances on time. At the same time, find ways to maximize your business card&#8217;s potential by using rewards points for business essentials.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Utilize tax credits and non-repayable government grants<\/strong>. \u2018Free money\u2019 can also come through value-added partnerships and no-cost resources available to business owners online.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Related story:&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/grow-your-business\/5-ways-grants-can-help-grow-your-business-in-2024\/\" data-dig-id=\"LP-11300-ac63af2c\" data-dig-label=\"5 Ways Grants Can Help Grow Your Business in 2024\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">5 Ways Grants Can Help Grow Your Business in 2024<\/a>.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The Canada Digital Adoption Program (CDAP) offers two grants to help owners leverage technology to get online, reach more customers, operate more efficiently, and propel their businesses forward.&nbsp;<a href=\"https:\/\/discover.rbcroyalbank.com\/what-business-owners-need-to-know-before-applying-for-the-new-canada-digital-adoption-program-cdap\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/what-business-owners-need-to-know-before-applying-for-the-new-canada-digital-adoption-program-cdap\/\" data-dig-id=\"LP-11300-59d5f13e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Learn more\" class=\"rbc-link-format\">Learn more<\/a><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">3. Understand the pros and cons of fixed and variable rates<\/h2>\n\n\n\n<p>When you&#8217;re borrowing for your business \u2014 a commercial mortgage, a term loan or a line of credit \u2014 you&#8217;ll want to understand the type of rate you&#8217;re signing off on and what the implications are for your business.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>While fixed rate loans generally have higher posted rates, they offer the certainty of a known payment, regardless of whether rates rise further.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Variable rate loans, meanwhile, will become more expensive to service when interest rates go up \u2014 and business owners who have been carrying variable rate debt are feeling the impact of the rate hikes over the past year.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>While one of these rate types isn&#8217;t \u201cbetter&#8221; than the other, there may be a clear option for your business. It&#8217;s worth creating different scenarios based on different rate environments to determine how your cash flow may be affected.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<ul class=\"wp-block-rbc-list\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Watch the&nbsp;<a href=\"https:\/\/discover.rbcroyalbank.com\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\" data-dig-id=\"LP-11300-a538a2de\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC Small Business Talks webinar\" class=\"rbc-link-format\">RBC Small Business Talks webinar<\/a>&nbsp;to learn how to incorporate scenario planning into your business plan.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>In the meantime, take a moment to ask yourself a few questions as you assess your borrowing solutions:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Can I afford higher payments on a variable rate loan\/mortgage if rates rise again?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Am I comfortable with the risk that comes with a variable rate product?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Am I expecting consistent revenue over the near-term? (If so, a fixed rate loan may offer revenue stability.)<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Interest rate implications will likely be highest where you do business, as rent or mortgage is typically a business owner&#8217;s biggest expense. If you&#8217;re weighing your options to rent or buy commercial real estate, RBC&#8217;s <a href=\"https:\/\/discover.rbcroyalbank.com\/should-you-rent-or-buy-commercial-real-estate-5-questions-for-business-owners-to-ask-themselves\/\" target=\"_blank\" rel=\"noopener\"><\/a><a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/should-you-rent-or-buy-commercial-real-estate-5-questions-for-business-owners-to-ask-themselves\/\" data-dig-id=\"LP-11300-7e302f94\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Should you Rent or Buy Commercial Real Estate? 5 Questions for Business Owners to Ask Themselves\" class=\"rbc-link-format\">Should you Rent or Buy Commercial Real Estate? 5 Questions for Business Owners to Ask Themselves<\/a> can help you decide what&#8217;s best for your business.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. Create an emergency fund<\/h2>\n\n\n\n<p>Business owners are acutely aware that external factors completely out of their control can affect their bottom line. Hence the importance of creating an emergency fund for the future. Aim to save at least three months&#8217; coverage of your fixed costs. If possible, set aside a six-month runway.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<ul class=\"wp-block-rbc-list\">\n<li class=\"wp-block-rbc-list-item\">\n<p>For more ways to future-proof your business during difficult economic times, read&nbsp;<a href=\"https:\/\/discover.rbcroyalbank.com\/5-steps-to-strengthen-your-business-during-a-downward-economic-cycle\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/5-steps-to-strengthen-your-business-during-a-downward-economic-cycle\/\" data-dig-id=\"LP-11300-70ad295e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"5 Steps to Strengthen Your Business During a Downward Economic Cycle\" class=\"rbc-link-format\">5 Steps to Strengthen Your Business During a Downward Economic Cycle<\/a>.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">5. Build an opportunities fund<\/h2>\n\n\n\n<p>Once you&#8217;ve established an emergency fund and your expenses accounted for, try to set aside a cash reserve for opportunities, however small that might be. Remember, even the pandemic offered unique opportunities for business owners who found creative ways to build their businesses and meet customer needs. Being prepared to act on new ideas can help your business weather tougher times.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The Bottom Line<\/h3>\n\n\n\n<p>Higher interest rates have made borrowing more expensive for business owners, but they also offer the potential for savings growth (and a reason to look at operating expenses closely). Knowing the impact of rates on your business and understanding the options and opportunities available can help keep your business financially healthy.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-65e1c6f1-79ed-4925-a5c9-3f720d925777\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=5 Things Businesses Should Consider in a Higher Interest Rate Environment &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-planning\/5-things-businesses-should-consider-in-a-higher-interest-rate-environment\/\">\n        <img 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\t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-1f1ef018-bc2f-4499-8847-53a2cbc9aaf3\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/commercial-insights\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Commercial Insights<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Entrepreneur<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/ideas-and-insights\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Ideas and Insights<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"767\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1173116341.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"cargo ship at shipping dock\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1173116341.jpg 1440w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1173116341.jpg?resize=300,225 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1173116341.jpg?resize=768,575 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1173116341.jpg?resize=1024,767 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/grow-your-business\/\">\n\t\t\t\t\t\tGrow Your Business\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a 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wp-post-image\" alt=\"warehouse workers in meeting\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1459657569.jpg 2120w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1459657569.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1459657569.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1459657569.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1459657569.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/iStock-1459657569.jpg?resize=2048,1366 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/grow-your-business\/\">\n\t\t\t\t\t\tGrow Your Business\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/grow-your-business\/6-strategic-advantages-canadian-businesses\/\" class=\"card-title h4 mar-t-0\">Before you Sign Anything: 6 International Market Entry Strategies Every Canadian Business Needs to Know<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"680\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Tax-Season-Image.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Man and woman sitting in cafeteria discussing finance for the month. Stressed couple looking at bills sitting in restaurant wearing uniform apron.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Tax-Season-Image.jpg 2125w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Tax-Season-Image.jpg?resize=300,199 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Tax-Season-Image.jpg?resize=768,510 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Tax-Season-Image.jpg?resize=1024,680 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Tax-Season-Image.jpg?resize=1536,1020 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/02\/Tax-Season-Image.jpg?resize=2048,1360 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-planning\/\">\n\t\t\t\t\t\tBusiness Planning\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-planning\/avoid-tax-season-stress\/\" class=\"card-title h4 mar-t-0\">Get Ahead of Tax Season: 5 Proactive Steps for Business Owners<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-65e1c6f1-79ed-4925-a5c9-3f720d925777 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-65e1c6f1-79ed-4925-a5c9-3f720d925777 {\n\t\t\theight: 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