Tanya Hilts: Winner of the 2025 Great Companies International Women Entrepreneur Award

Name: Tanya Hilts

Business Name: Cloud Business Services inc.

Location: Belleville , Canada

Category: Accounting & Bookkeeping Services

Website: www.cloudbusinessservices.ca

Social Media: https://www.linkedin.com/in/cloudbusinessservices/

Company Detail:

Cloud Business Services Inc. specializes in bookkeeping services, focusing on providing comprehensive financial record-keeping and reporting for small to medium-sized businesses. The organization ensures that all transactions are accurately recorded, financial statements are prepared in compliance with Canadian accounting standards, and assists in financial analysis to support business decisions.

Its service offerings include but are not limited to:

• General Bookkeeping - Routine recording of transactions, reconciliation of accounts, and management of payroll and accounts receivable/payable.

• Financial Reporting - Preparation of balance sheets, income statements, and cash flow statements, giving businesses a clear view of their financial health.

• Tax Preparation - Assistance with the preparation and filing of tax returns, ensuring compliance with tax regulations.

• Consultation - Providing strategic advice to optimize business operations and enhance profitability based on financial data.

The firm prides itself on its commitment to accuracy, reliability, and integrity, offering personalized services tailored to meet the unique needs of each client.

Unique Selling Proposition or Competitive Advantage:

What sets Cloud Business Services Inc. apart and attracts clients over competitors are a few key differentiators:

• Expertise and Recognition: With years of experience, multiple industry awards, and recognition as leaders in the field, the firm offers a level of expertise that is trusted and proven. This includes specific recognitions like being a finalist in Intuit's International Firm of the Future and consistently being ranked among the top 100 ProAdvisors by Insightful Accountant.

• Customized Service: Services are tailored to each client’s specific needs. Unlike one-size-fits-all solutions, the firm understands the unique aspects of small businesses and provides personalized advice and services that directly impact clients' bottom lines.

• Advanced Technology Utilization: The firm leverages the latest bookkeeping and accounting software and integrates cutting-edge technologies to provide efficient and accurate services. This includes app stacking and using AI tools to enhance productivity and insights.

• Strong Industry Focus: With a niche focus on small businesses, the firm brings a deep understanding of their challenges and opportunities. This specialization allows it to provide more relevant and impactful solutions compared to generalist providers.

• Values and Relationship: Cloud Business Services Inc. is built on the foundation of mutual respect and shared values with its clients. The firm values long-term relationships, which translates into more personalized service and understanding of each client's evolving needs.

These elements combined make the services not just a transactional experience but a strategic partnership that helps small businesses grow and manage their finances more effectively.

Challenges Faced During the Journey:

Overcoming challenges has been a significant part of the journey to establish a successful bookkeeping practice. Some of the key obstacles navigated include:

• Economic Fluctuations: Adapting to economic changes and ensuring business continuity during downturns, such as the COVID-19 pandemic, required strategic adjustments in service offerings and client communication strategies.

• Technology Adaptation: Keeping up with rapid technological advancements in bookkeeping and accounting software was challenging but necessary. Time and resources were invested in training and upgrading systems to stay competitive and offer top-notch services.

• Client Education: One of the persistent challenges has been educating clients about the importance of bookkeeping and ongoing financial oversight. This has been tackled by providing educational resources and workshops to demonstrate the value of informed financial decision-making.

• Hiring and Training: Finding and retaining the right talent, especially for managing specialized bookkeeping needs that align with Canadian accounting standards, required refining hiring processes and offering continuous professional development opportunities.

• Regulatory Compliance: Staying compliant with ever-changing tax laws and financial regulations is crucial. This has meant maintaining a proactive approach to regulatory changes and ensuring both the team and clients are always informed.

• Market Competition: Differentiating in a crowded market involved clearly defining unique value propositions, such as expertise, award-winning service, and commitment to small business success, which has helped attract and retain clients.

These challenges have taught valuable lessons in resilience, adaptability, and the importance of staying client-focused, allowing continued growth and refinement of services.

Advice for Women Entrepreneurs:

• Believe in Yourself: Confidence is crucial. Trust in abilities, and remember that self-doubt is normal. Overcome it by continually challenging oneself and stepping outside comfort zones.

• Build a Strong Network: Surround yourself with supportive mentors, peers, and professionals who can provide advice, feedback, and encouragement. Networking is not just about receiving; it’s also about giving back and helping others along their journey.

• Embrace Failure: View failures as stepping stones to success. Each setback is a learning opportunity and a chance to improve. The path to success is rarely linear, so resilience is key.

• Stay Educated and Informed: Keep up with industry trends, advancements in technology, and business management strategies. Lifelong learning helps adapt and innovate in a constantly changing market.

• Prioritize Work-Life Balance: While entrepreneurship can consume a lot of time, it’s important to take care of health and maintain relationships. A well-rounded life supports sustained success and prevents burnout.

• Define Your Values and Vision: Know what you stand for and where you want to go. This clarity guides decisions and helps stay focused, especially during challenging times.

• Advocate for Yourself and Others: Don’t be afraid to speak up for what you need, whether it’s negotiating contracts or promoting a business. Also, support other women and underrepresented groups in the industry as part of building an inclusive business culture.

These pieces of advice are not just theoretical; they are practical steps that have helped many women navigate the complexities of entrepreneurship. Every entrepreneurial journey is unique, and what works for one may not work for another, but the key is to keep moving forward, learning, and evolving.